2 on a red background for 2 reasons not to start a podcast

2 Reasons You Shouldn’t Start a Podcast

There are a lot of reasons to start a podcast. You can reach a new audience, share your expertise, and build relationships with listeners. However, there are actually two very good reasons why you should not start one. In this blog post, we will outline these reasons and suggest what you can do instead to grow your business.

Reason # 1: To make money or sales quickly.

If you’re looking to make quick money or drive short term sales for your business a podcast is not right for you. It takes time to build an audience, and even longer to generate revenue. There are many opportunities or options to monetize in podcasting but none of them are easy. Instead of focusing on quick money or quick sales, focus on how you can build trust with your audience and a develop a deep, long term relationship with your potential customers. But know podcasting is a long game and it takes time to build an engaged following.

Reason # 2: Because a celebrity or influencer is “killin’ it” aka very successful in a particular category, topic or format.

Starting a podcast because you think you can replicate or get some of the success a celebrity or an influencer is experiencing is a recipe for unmet expectations. You will likely be disappointed with the podcast’s performance and ultimately quit because before you’ve started you’ve locked yourself into a comparison loop. measuring and comparing yourself to what they do or are able to achieve. 

Instead of starting a podcast a podcast based on the success of a celebrity or influencer, do your research and look for opportunities where your expertise or interests intersect with that of your target audience and create the content that they want. To have an engage audience you need to create a podcast that puts the audience first by creating content that they want to hear and you can deliver.

The takeaway

There are good reasons to start a podcast but making quick money, quick sales or copying celebrities are not good reasons to start a podcast. Instead, focus on creating content that is valuable to your target audience and provides them with information or entertainment they can’t find elsewhere.

Interested in starting a podcast? Check out this 30 minute mini course.

the number 5 on a green background for 5 reasons starting a podcast is still a good idea

5 Reasons Starting a Podcast is Still a Good Idea

The world of podcasting is constantly evolving. Just a few years ago, it was considered a medium for hobbyists and amateurs. But in recent years, the landscape has changed dramatically, and podcasts have become one of the most popular forms of content on the internet.

If you’re reading this, then you’re considering starting a podcast and may still be on the fence about starting a podcast.  Maybe you’re thinking,

“Is it really time to start a podcast? Why should I start a podcast now? The market is saturated, there’s no new topic to explore.”

But you’re probably thinking of it anyway because despite what you may have heard, podcasting is still a viable option for businesses, entrepreneurs and individuals who want to share their message with the world. In this article, I will share 5 reasons why starting a podcast is still a good idea.

5 Reasons

Reason # 1: The barrier to entry is low.

Podcasts may be everywhere and more media companies, corporations and celebrities maybe getting into the industry but the barrier to entry is still low. Compared to other forms of content such as video, starting a podcast doesn’t require much investment on equipment. You’ll need a microphone, some accessories, recording software, editing software and an internet connection. You can start out with a very basic setup and grow your podcasting gear over time.

Reason # 2: Connect with Customers and Clients

One of the most important reasons to start a podcast is that it gives you a way to connect with customers, clients and prospects in an intimate way. The trick here is not to make your podcast an hour long infomercial about your company, products and services. People listen to podcasts that are interesting and create value, they don’t want to be constantly sold to.

Reason # 3: Tell stories important to your community. 

Podcasting is a great way to create content for underserved communities, shed light on issues affecting a community.  You can also use podcasting as a way to amplify the work of people in your community. In my case I started my podcast, because back on 2015 there were many podcast talking about the experience of Caribbean immigrants.

man on a train with headphones around his neck

Reason #4: It’s a great form of creative outlet.

I’ve learned that many successful entrepreneurs and business owners have a creative outlet that allows them to process their thoughts, share ideas connect with others on their show and feel fulfilled.  Podcasting is a great format if you want to build an audience while sharing your journey and message in an authentic way.

Reason #5: It’s a great way to learn and help others learn.

As a podcast host, I’ve learned a lot from my guests who are experts on various topics or just by them sharing their life stories. I’ve also had people reach out to me and tell me that they were able to take an action or apply something they learned from my show. 

The takeaway

People are fascinated with stories. Since the beginning of time, humans have been sharing their experiences and stories with others. By starting a podcast you can tell stories that your audience will find fascinating and educational at the same time. Whatever the reason you choose to start a podcast, make sure that you connect with the audience first to validate your idea. Yes, there are millions of Americans who listen to podcasts each month and that number is steadily increasing. However the key is to remember people listens to and tell others about shows they can relate to, find interesting and shows they love.

erested in starting a podcast? Check out this 30 minute mini course.

free podcast mini course

Mini Course: Introduction to Podcasting

Are you curious about podcasting?

Do you want to know more about what it is, how to get started and what the industry looks like? If so, then this mini course is for you! In this mini online course, we will provide an introduction to podcasting that will help clear up some common misconceptions and give you a better understanding of what is involved in starting your own show as well as an overview of the industry.

I hear it all the time from people interested in starting a podcast – “There are so many articles that give you so many options and information. It would be great to get some honest feedback about starting a podcast because it’s hard to take it all in.” Another frequent comment I hear is “I wish I had known this [insert whatever challenge] before starting my podcast.” Oftentimes the information people are looking for is even simpler than which equipment to choose or how to record. It’s along the lines of “what are the start-up costs?” ; “can I really make money, how?” or “what other things should I think about before starting a podcast?”

The Podcast Starter Mini Course

So, I decided to put together a mini course which will help address some of the common challenges and misconceptions about starting a podcast.

The Podcast Starter mini course is designed for people who are interested in starting their own show, but may be unsure of where to start or what is involved. The goal is not to give you all the answers, but rather provide you with enough information so that you can make an informed decision about whether or not podcasting is right for you.

The first chapter in this mini course is all about understanding what podcasts are and why they’re becoming increasingly popular. It will also give an overview of the industry, including some statistics. The mini course wraps up with dispelling some common misconceptions and give you a better understanding of what is involved in starting and running your own show.

Also included in the course is the Podcast Prerequisite Worksheet. This worksheet is designed to help you think through your motivations and goals for starting a podcast. It will also help you to identify any areas of podcasting that you may need further research on.

This mini course, won’t be teaching you how to record, edit your show or publish a podcast. It is meant to be only an introduction and brief overview.

Sign up for the course

The Podcast Starter Mini Course is perfect for anyone who wants to start a podcast but isn’t sure where to begin. It’s also great for those who want to learn more about the industry before making their first episode. You don’t need any prior knowledge or experience to take the course.

If you’re curious about starting a podcast but want to know more before taking the plunge, this mini course is for you! It only takes about 30 minutes to complete.

mobile phone with money Podcast Monetization options but not easy on Breadfruit media

Podcast Monetization: Many options none easy

Monetize my podcast

Monetizing is something a lot of podcasters discuss…ok almost every podcaster discusses this at some point. There are two main types of monetization, direct and indirect.

  1. Direct – needs the podcast to generate revenue. Examples include: ads, donations, merch (podcast branded).
  2. Indirect – may be complementary to the podcast but can stand on its own to generate revenue. Examples include: lifestyle merch (not podcast branded), services.

So yes, it is true that when it comes to monetization in podcasting there are many paths, but easy is a myth.  This article outlines some of my experiences with direct and indirect monetization. 

1st attempt

I’ve tried different things to monetize Carry On Friends, my blog and podcast. So when I decided to try monetization my first attempt was at the lowest hanging fruit – affiliate marketing. Affiliate Marketing is a type of advertising model where a company compensates third party publishers for generating traffic or leads for their brand’s products or services. The traffic is tracked using specific affiliate links. I followed the prominent advice and promoted products that I care about and use. By doing this, it’s said to build trust with the audience because it’s more believable.

I decided to promote Lynda.com now LinkedIn Learning and Audible, 2 products I used a lot back then and still  use a lot to this day.  If you go back to some early episodes of the podcast, you can hear me promoting my affiliate links for Lynda.com in episode 31 or Audible in episode 30. 

I didn’t get any commissions from promoting those links. And while I included the links in the show notes or blog posts, I had stopped doing the “on air” mentions. 

2nd attempt

I’ve also spent time sending pitches to potential sponsors. I’ll admit that in the 7 year life span of Carry On Friends. I haven’t sent a ton of pitches, it’s definitely less than 30. To date, I’ve only had 2 sponsors and only 1 of those were from the pitches I sent. 

When I first started selling merch on COF in 2015 I thought it was gonna be easier or better than affiliate ads. I started with a journal and expanded to t-shirts. I got a few sales but not anywhere I expected to get between December 2015 to June 2017. 

Then 2 unrelated things changed the trajectory of the merch I sold. Early 2017, I had a guest on my podcast who launched a t-shirt business while she was in college. Then a few months later, I did a podcast series with a guest on developing, cultivating and launching your idea/products. It was during that interview series that I realized why the merch was not doing well. So I reached out to the guest I had previously on the podcast and partnered with them to sell my merch. They handled the shipping, customer service and marketing. I would also focus on marketing, promotion and the designs or creation of new products.  Within months my sales increased and surpassed what I tried to do on my own and I’ve never looked back. 

Lessons learnt

I learned that because I am a podcaster and wasn’t in the t-shirt selling business or the merch business at the time; I didn’t have the expertise or bandwidth needed to market and sell the volume of merchandise that would generate revenue. By partnering with an expert and focusing on what I could do well (continuing to podcast and promote the merch) – I found success.  And over the years my skills and expertise on the merch side has grown.

My experience with monetizing the merch taught me a few things. These lessons learnt from my first attempt at selling merch on my own is applicable to other areas of monetizing in podcast. 

There’s a myth or assumption that making money from podcasts is passive. People will come to you or you can be offered ads or want to sponsor your show, or whatever other expectation exists. The truth is monetizing is an active process. The mindset shift is that if you want to monetize your podcast, you must sell, you must become a sales person. 

  1. You must become a sales person, whether you like it or not. 
  2. To generate revenue from ads, affiliate links, merch etc. you must sell/promote and do it regularly. I mean Repeatedly. It cannot be occasional. Even asking for donation it is a repeated ask. To get ads you have to sell ads. Even for platforms like Podcorn, where you can browse the ad opportunities you still have to actively pitch.
  3. Be prepared for a lot of “No’s” or silence. 
  4. Even for merch you need to promote and sell.
  5. Experiment starting small or with one thing. Too many options create inertia and the audience/buyer doesn’t buy. 

Conclusion

Most podcasters don’t like to sell and don’t want to become sales people. This is one of the main reasons podcasters join podcast networks. Podcast networks find ads for shows and podcasters get paid. A potential trade off for being part of a network is a lack of ownership of your show. 

Monetizing your podcast requires commitment, effort and putting yourself out there to ask/sell. It requires trying different things. If you’re looking out in the podcast landscape and seeing others’ success, just know you’re looking at many variables. Some people have the networks that help them to connect with sponsors. Others have the business/sales experience to sell. Some shows are in a niche where sponsors really want to get to the audience, and so forth and so forth. 

The key is testing what works best for you and your audience.