How to Monetize Your Podcast w/ John Lee Dumas

Lesson Info

How to Monetize Your Podcast w/ John Lee Dumas

I'm gonna bring in a guest and his name is john lee dumas and here he is john the man what's up brother you have great lighting you looking you're looking incredible and we've got a room full of inspired podcast creators and learners and we've got, uh, tons of people online who are excited about this specific topic I'm going to do some interviewing of you personally for a little bit and then we'll have some some guests here to ask you some questions well um but I want to ask you first how's it going number one luis whenever I can be in the same room is even virtually it's a good day brother so we're going to hang out on sunday at thrive in vegas and we get to hang out today as well so I says to say, uh, thanks for having me on thanks, man. So first question um went, how did you start your podcast? Did you start it with the positioning of I'm going to monetize this one day and you positioned it to be monetized or did you started saying I'm just going to create a great podcast and see wh...

at happens? Soto answer that question very succinctly I lost eo fire from the cold by albert einstein which was trying to become a person of success but a person of value because I had been trying to be successful for years half a decade I had failed at every one of those ventures so I launched your fire with the sole focus in the sole goal to provide free, valuable and comm assistant content daily and I knew I was going to want to monetize at some point down the road I didn't have a timeline on that I you know was probably thinking at least six to twelve months down the road before I even thought about it it ended up being nine months so right in the middle of the time I had the idea for the podcast when I actually started to monetize because I let my audience get to that tipping points and then my audience actually told me when the time was right to monetize with their questions with their comments and just with this size it that you'll fire had grown stale so nine months and when you started making your first dollar right yes, how much how many interviews have you done and how much money and time did you spend until you made that first dollar one hundred and eighty five interview about twenty two thousand dollars? Wow okay, so I see that you put a lot of time and energy into it first to get started and he wasn't making anything until he invested twenty two thousand dollars in one hundred and how many episodes um a lot of your time in a full year almost so so should people do you think people should position their podcast and could they start making money in the first couple weeks if they're beginners or is it more realistic that it's going to take six to twelve months until you start making a few bucks there's a few things and I can definitely answer that question directly number one two thousand twelve was a different time in a different landscape for podcasting in two thousand fifteen iss there just wasn't anything out there for podcasters tto learn that's why I had to invest so heavily in our mutual friend's jamie tardy louis mentor me one on one I'd invest heavily in cliff ramos grass podcast mastermind which no longer exists but that was what I had to do because there wasn't other things out there you know now there's free courses you know now there's communities that you conjoined that aren't that expensive, which which really would have brought that twenty two grands you know, down to like two to five thousand dollars or would have been exponentially dropped so there's a lot more options out there today you can get going ah lot with a lot less of an investment and that's just the reality that's really exciting for people now number two podcasting has really grown as well when I launched there's wasn't really that many people doing it that consistently or really professionally was kind of more of a side gig now it's out there you know you have cereal, you have people like tim farriss andrew was house who have launched podcast and it's really making a name for themselves and for podcasting in general so people are really giving a lot more credibility to this and now sponsors that never existed before I heard you mention the mineral a few minutes ago I was there first business podcast they ever took on. They had like ten yeah when they were there called the mineral they had ten comedy podcast they brought me on as your first test cases a business podcast back in twenty thirteen early two thousand thirteen and now I get their news letters and they have thousands of sponsors on that sponsor podcast in hundreds and hundreds of killer shows on their ship on the roll so there are more opportunities and monetize now this more legitimacy now in the first couple weeks is a new podcaster unlikely you want to build your niche, carve out that industry that you're really gonna dominate, build the audience or right way and then you can look to monetize again based off of that free, valuable, inconsistent concept that you're creating now sponsorships are great and give a breakdown for how you're monetizing your podcast today let's talk about how you did it the first year with sponsorships and where its transition teo today from all the different revenue streams okay, so I have five major revenue streams and I'll talk about those and they're in ascending order which means right now they're my lowest and will grow up to the highest and it's actually a pretty similar timeline as well from my earliest is my now leased and my highest is now my most recent so we'll get into that yeah so it's it's done a complete flip flop which will make sense is that kind of get into it but number one was mentoring one on one coaching because when you have a podcast and you are talking with credibility an authority in that niche in that area people are gonna look to you and they're going to say, wow, this person ate knows they're talking about b they're going to say hey, this person by association like when I first had my show louis and you came on and I tim fares on a step goaded on I was guilty in a good way by association right people they're like oh john's having conversations with these great movers and shakers I wantto have conversation with movement sugars in my industry you know, whatever that might date so they're going to say okay, this person guilty by association again in a good way so mentoring for me me being that coach one on one was the first way that I ever started to monetize now now that's the lowest way right now it's actually zero dollars because I no longer mentor one on one I just don't have the time I you know use my time and other scaleable immoral eh? Bridgeable manners much like you lewis I know I was one of your last mentees I'm you know, always very honored about that because it was such an incredible experience to be men toward by you and that's what I did for two years for other podcast was in fact cole hatter the guy that's throwing thrive this weekend was my mentee s o I coached him and now he's throwing conferences with robert her shit back of sharks so you love to see that process so that was number five for me and that was generating about eight thousand dollars every single month excited for mentees paying me two thousand dollars every single month so that was a great income stream going forward for almost two years straight and for a lot of coaches who are, you know, half the room here that's live here put their hand up that they coach that's a great way to start to start making good money by offering strategy sessions or coaching calls or mentee programs right that's a great way to start even if it's your first few months to get coaching clients would you say absolutely and again for that reason because you are building a no like and trust with your audience they're tuning in and they're hearing maybe a different guest every day but they're hearing your voice every day you are building that authority with them and so when they had that question they're going to come to you because you're the person they know like trust exactly. Okay, so what's the second the second one, number two and this something both you and I also have experienced and pretty extensively lewis and that's creating a membership mask you mind because when you are a podcast host, not only are your listeners gonna want more access to you the individual they want more access to your v I p list because they know the people that listen to yo fire the ones that are my fire nation faithful they know that those are the top of the top the creme de la creme of potential master my partners and as you know general says you're the average of the five people spend the most time with they want to spend the most time with the thie elite of fire nation of yo fire so we created over two, years ago it's actually two and a half years ago now fire nation elite which is our membership mastermind where I said, hey guys, you want more access to me, you're more access to the other firenation elite people that are taking action investing in themselves they're not going to waste your time. Come check out fire nation elite dot com this is what we d'oh you get calls with me would you hang out somewhere on a facebook group, x y z and that has been a five figure per month revenue generator for me for the last two and a half years. So again, five figures every single month recurring revenue, the dream of an entrepreneur that m r was that monthly recurring revenue. Louis, you have the school of greatness. You crush it with that, you know, you have a great membership master. Mind you going my access to you to people that are part of school of greatness. That's an amazing way for you to start monetizing your podcast. I love it. Yeah. Uh, it's also cool because he's like the raving fans, the ones that appreciate it the most and the ones that are probably good bye you're live events or other courses that you have. So I think it's important to create that if you want to spend that time. S o what's number three number three's actually become one of my favorites and it's really catching up the number two right now in a fast way, much faster than I expected, and I'll tell you why affiliates now affiliates I want you to picture when you're on your show and you're like oh yeah we're talking about like starting a website so goto bloo host dot com you know early lead pages is great for slash speeches weapon are often like when you're saying these kind of things people want to know okay, we're right on these resource is so what I've always done from day one to say hey fire nation like these other resource is that I recommend you know, lead pages blue hosts all these different great companies that we currently use and I'm like listen if you want to go to hell fire dot com slash re sources I have affiliate legs there so that if you do purchase that products through that link I'm actually going to get a cut of that I'm gonna get a commission from that purchase not cost you anything more and all get a slice of that pie but I'm even going to make it a better reason for you then you know besides you saying thank you for me you know recommending this to you I also create video tutorials lewis or I said hey, if you go through my blue host lang for my lead pages like I've created a twenty minute video to toy that shows you how I use these products and services they give you the kickstart so gives him that extra reason to go to my resource is paige and used that resource and you know we consistently you know I mean you can look back over our income reports we published every single month and you're fired dot com slash income but we do anywhere from fifteen to twenty to twenty five thousand dollars a month on affiliate income alone but that has not been the reason why has become my favorite revenue resource. This is why this has even got even better than just kind of recommending prakit services now I've been doing this and this is troubled the income that we have for affiliates I for instance a few weeks back had russell bronson on yo fire we talked about creating funnels and why click funnels was great and I released the episode out of monday and the rustle through a special webinar a joint venture webinar and affiliate webinar thatyou can interchange those terms joint venture webinar affiliate webinar they mean the same thing we threw a joint venture webinar for fire nation on leah's exclusive you know I got a few hundred people on a number of people purchased on that webinar alone I generated just my portion of that weapon are driving people into click funnels which is a gray gray product seventy four thousand dollars on that one live webinar because I told my audience, hey, this is in your fire episode with russell and he drops and value bonds I say if you guys want some actual training, I'm talking like a webinar training ross is going to do an hour and a half training on wednesday come join, you know, thousands signed up three hundred showed up and one hundred twenty five, baht, so that was just like a great process for us number one for free value to my audience being my podcast have the free training that wednesday for fire nation and then the people that wanted to actually jump into that we're able to do so and get a great deal for I did the exact same thing with ray edwards this week for his coffee writing academy course, and I want to be doing the next day the same thing next week with nathan barry for convert kit, his email cr m so it's really cool how you can now say, hey, I can strategically bring on entrepreneurs that I love that have value to bring on the actual episode and not at on the episode and during the end say hey called action fire nation three training free webinar this coming was there thursday if you want to come, you know you're gonna get a gift for showing up, you're gonna get tons of value on the webinar and some of you might actually want to purchase this product service community whatever in my day and that, you know has brought our affiliate revenue up to like sixty, seventy, eighty and as you see, we're just that one weber russell we did over seventy four thousand dollars and again that was my size, so we did double that an actual overall revenue how many people do say signed up for the the weapon our or the report so the after numbers were nine hundred eighty nine signed up for the live trading about three hundred twelve showed up, which is very, very consistent numbers you get about thirty three percent, you know, somewhere between twenty five and thirty five and then from there we actually did have a pretty high standard rate with on the actual live webinar and like the two or three they fall up sequence we'd actually now running one hundred thirty seven people into cliques funnels which is a one time nine, ninety seven and fifty percent affiliate of that so I was getting five hundred dollars per conversion. Amazing, yeah it's crazy that the podcast is that what's built this and the cool thing I don't get in the next two uh, points in a second, but john started out with zero email this zero following before he launches podcast no well, I know what you mean just started the website the same day you maybe had like thirty, twitter followers uh he was essentially unknown in the world of anything online entrepeneur stuff he didn't even have anything s o let me talk about the twitter account real quick so I signed my mother up for a twitter account so I could have one follower when I lost she still has she's falling one person is she a there you go there you go but here's a guy that you know essentially created this all from nothing didn't have a following and was able to build these multiple revenue streams which is incredible so what's the fourth one I think I have an idea what it is well that's, your fourth is sponsorships and this has been great for a ton of reasons number one it has been incredibly steady. One great thing amongst many great things of doing a daily show is guess what? I have daily opportunities for sponsors so when some people have, you know weekly shows that's killer that's great but there's four of us owes per month those air force sponsorship opportunities for eo fire actually have thirty episodes one month on average, I do two sponsors per episode so there's sixty potential sponsorship spots for my prion mineral packages and I'll break those down in a second plus an additional thirty sponsorship spots for what's called the cultural package, so I sell my prion minerals as a package together it's a fifteen seconds spotted the beginning in a sixty second spot in the middle, so one sponsor has to buy those as a package of prion a mineral and so I have two sponsors, so I have to priest in two minutes and then one sponsor is buying a thirty second out roll so on almost every eo on every eo fire up so we have to present two minutes I mean, we're sold out in the two thousand sixteen those but on most of our episodes now because we're so oversold and really just popular with sponsors, we also have a lot of our troll lt's as well, so we're typically generating right now anywhere between three and a half to four and a half thousand dollars per episode, which is great for a podcast host toe wake up in the morning no that my show went live at three thirty a m and that show has already generated over four thousand dollars in revenue for me from those sponsorships pretty sweet four grand a day it's not bad for just sponsorships just monstrous and that's the second highest paying thing that you get so what's number one number one and it's actually not there's not even a close second to this for overall revenue generated to date in those are products, so the biggest thing that you can do as a podcast host is deliver free, valuable, inconsistent contents I've said it before I'll say it again if you institute those three ingredients free valuable, inconsistent and consistent does not have to be daily, my friends, it doesn't. It could be twice a week. It could be three times a week, like I know lewis is doing. A lot of it can be once a week. It could be twice a month, but it has to be insisting you build up a fan base in a listener base that nose like an trust you. So if you deliver free, valuable, inconsistent content, you will build an audience. And from that audience, you ask them the question, what are you struggling with? And that's the easy part, lewis, this you just listen, and they tell you their pain points there obstacles or challenges their struggles, and then you create the solution and that solution give me in the form of a product of a service, whatever that might be. And two great examples of what we've created. I listen to my audience. They said, jon, how do I create grown monetize my own podcast? I mean, louis, you know, you are my mentor, and I we had a great relationship, and you taught me everything I know about webinars and so much more. But when it came time for podcasting, like you came to me with some questions, because, you know, I had really built up that knowledge based had a lot of experience and you know I was able to the same thing with tim farriss there's been a huge honor to be to share that and so more people kept coming to me and I said, well, light ball why don't I create the community for people that want to learn how to create, grow and monetize their podcast? So we launched podcasters paradise and that is now over a community of over twenty, six hundred podcasters who have all come together and join broadcasters paradise who are all in it to support two guy to help each other obvious there's tutorials we do monthly webinars accountability partisan so much more and those over two hundred two thousand six hundred members who have joined podcasters paradise have resulted in over three point three million dollars in revenue to date and louis it's not even two years old yet wow, so courses is what I'm hearing is the number one by far and monetizing your podcast creating the solutions for the problems the challenges that people are having that are listening on a daily basis now is it number one by far many more than double of the number two are well with sponsorships were consistently generating well over one hundred thousand dollars a month, so we're well into seven figures of revenue with sponsorships so sponsorships is probably a decent second place no it's probably you know sponsorships is probably around one point five and then it's a big drop off you know affiliates which with the method I just share with everybody is really starting to make some noise I mean we might breaks six figures for the first time ever an affiliate revenue this month with lewis and robin are and now raise webinar that we're doing in a couple of hours we have planned so that's really exciting okay don't you love how he's just like a one hundred thousand a month sponsorships nobody deal but this is, you know, three years some for three years you've been around now right in eleven hundred fifty nine episodes yes oh this is like the hardest working man in podcasting in the world no one comes close to a second place um and that's you know you work that hard you're gonna get results like that and john is one of most strategic guys that I know about positioning himself, positioning his podcast from the very beginning and how did you know he went out saying I'm gonna do it every single day podcast because no one's doing that remember what I said earlier that sally hogshead said different is better than better and he's he's been completely consistent with it for three years has there been a day you've missed? I've never missed a day ever and because you know to make sure I don't I'm always at least two months ahead I mean I am you know right now when I interview somebody next week like that interview's going to be scheduled to go live in late december so I'm there like I have already kept that buffer ahead which should be exciting to people like you don't have to be doing this every single day you khun interview in bulk I do eight interview every single tuesday you know, I heard you talking about how michael hyatt schedules involved and actually records in bulk and that's so huge and so true and guys different is better than better because I was bad I was a bad podcast host go back and listen to the first time I interviewed lewis again my my show was successful because people like lewis where my guests who were already amazing at being interviewed and they just had great value so I was able to kind of you know, just hobble along as the host and just kind of giving them you know, the basketball st louis please go score like a thousand points because you know, I can't do anything so I was able to keep the show going getting a little bit better every single time I interviewed somebody learning from the best and just doing that thing and that so I was just different too broad to be I was bad in different it was definitely not better it took time but but you are a mutant and your property like a madman and you so I want to have I want to open up questions the second I ask you a few more questions if you were just starting out right now within two thousand say your god has launched in january two thousand sixteen you're getting your strategy together, you're thinking about the topic you're thinking about what you want to do, whether it's interview our co host all these different things. What would your strategy be going into two thousand sixteen on how you'd want to monetize on brand new podcast two thousand fifteen sorry two thousand twelve when I launched I was the on ly podcast that was interviewing entrepreneurs on a daily basis, and that was what was new? That was what was different that's what created some buzz that wass a new niche that was a unique and a very valuable podcast just because of those reasons that doesn't exist, you know now coming up fast for almost four years later in two thousand sixteen, which we're talking about for january now if I was going to be starting from scratch in january, I would sit down and I would really, really struggle to come up with an idea and my struggle I just mean think really hard because you need to differentiate yourself more so now than ever and so there's so many party guests out there, but there's so many more podcast listeners, so there's pros and cons guts so many more listeners out there, apple carplay is in the dashboard of every car, you know, now, every single person that you know, you know, has an iphone, a computer pocket. They could just listen to whatever they wanted for g streaming it's everywhere. Now, you know, serial blew up two nations obama going to marc maron's garage I mean, these things have put podcasting on the map and it's here to stay so there's, so many more listeners, but now you seem to be very strategic, but how do I get my piece of the pie? So he'll fire launching with the same skills that I had in two thousand twelve in two thousand sixteen would fail because it was a bad party casos didn't have any experience your skills, it would have failed in two thousand sixteen because I didn't. I wouldn't have had time to get good to keep going, so I would I would sit down, I would say, what is my you v d that unique value distinguish er that is going to make me difference, then podcast that are currently out there and now for unique with theo fire that will was the daily that was why you need this what was my you know value that I was providing? Well, I had guests like, you know, louis tell seth gordon stem fairs who had value to give you know, what was my distinguish er when my distinguished was I had had the same exact form out of my show and I still have it to this day because it works. I asked my guest to share their worst moment their lesson learned there ah ha moment how they turned into a success the lightning round these haven't changed cause they work, so that was my distinguish er that was my unique value distinguish all three across the board and I would sit down and say, hey, what is a niche the people aren't willing to get into because they feel like it's too niche and I love the phrase lewis so many people these days, especially millennials, they go one mile wide and one inch deep and what does that mean? They don't make any impressions with anything it's just going one inch deep so much noise out there you as a potential podcaster need to say, I'm going to go one inch wide in one mile deep I'm going to go so far down that I'm actually gonna be a little nervous there's not enough people to listen to this podcast to start, but because you're willing to go down to that level you are going to dominate that next you're going to go onto facebook and linked in and jeep google plus and find groups that have people that should be listening to your podcast cause it's so unique and so specific to them like you know, fishermen in northwest canada whatever that might big find those groups get out there because now you have the on ly podcast in that niche and that's where you start just getting that little mo mentum going where people start saying, man, this podcast is made for me you get some listeners your numbers are huge but they're there and it's consistent and they're telling their friends about and it's growing and then you can start to expand down is he okay now it's gonna be for all of canada? Okay, now I'm going to go into, you know, fishing in brazil and use continue to expand out before you know it, you have the podcast and maybe you want to start at the beginning just you know, the the podcast about fishing in the world but you can't start there you have to start in that one niche get that moment um get those first you raving fans and then you can prove the concept in expanse I love this I want to open it up for questions for people who are watching online and also let's start with the audience louis you know specifically, I know when I gave my creative talk a little while ago here we have the same gentlemen in the audience that was there for me. Mr nathan pearce is in the house in this guy started a microbrewery podcast so I'd love to know how that niches worked out and if he's expanded from that, that could be a really good set away from this question pressures on john thanks for teaching the class here. I learned a lot I don't know if you could see my face where they look at that I can actually you're just a minute the way so I'll see it in about a minute. All right, cool. So yeah, it was very helpful. All the information I learned in the podcasting one o one class I believe is called dean your buddy class podcasting one o one search for in the creative live catalogues and you guys I still get affiliate revenues just in the next income report you guys go ahead and jump on it so I basically the reason I came today is because I'm building on all the information you taught me in that class and the main thing I wanted to learn was how tow monetize in a greater way the microbrewer podcast so as faras going a mile wide, I'm about an inch wide and right trying to go deeper all the time because my whole thing is how to start a brewery and I don't know how to start a berry that's kind of like my shtick is I'm learning how to start a brewery and this is the podcast is one way that I'm learning how to do that so I'm just gonna take your advice and associate with people who you know, the movers and shakers in the industry and try to establish myself more and, um try to think we'll just where I'm going is I'm learning a lot of good stuff. So many questions don't question for job this nathan specifically go out and find, you know, the most active facebook groups that are public that are thriving that are engaging on lengthen on google plus they're there right now like, go find those groups and that you know that are just talking about, you know, newest techniques of brewing our, you know, breweries, top secret, whatever it might be like you concert for those keywords in any of those social media platforms. Then you join those community and you just kind of maybe you work for a couple days and see how the conversation's flowing, but then you start engaging, start asking questions, you start giving support guidance, you start answering questions, you start being a person of value, maybe you reach out to the actual leader of that group the group creator who knows you know, like the god of that group and say, hey, this is an amazing group, I'd love to have you on my microbrewery podcast talk about how you create it, it's a great community, have them on your show, and then when that interview goes live, you better believe that that person is going to be sharing that interview with the entire group is your avatar is your perfect listeners right there? You're going to learn about conferences, you could potentially go, teo, virtually and in person, you know, that's what meetup dot meetup, dot com is great foreigners, always these in person conference is going on right around the corner that we don't even know about just because we don't go there and just say, I'm interested in brewery or, you know, and brewing and beer and whatever, and then you're gonna get notified and, you know, maybe start taking trips up and down the coast it's actually engaged in some of these things and be in the industry, be there, be present, okay, that's, something that I haven't done well in the past stuff. Do you have any questions specific for where you're at now and where you where you're trying to head for john? Well, I think where I've been lacking in the past is just actually, monetizing I was like, I'm I'd ever expected to get into this podcasting thing, but I was like, well, the guy who started microbrewers and going to do it, and you, moore and I hear john lee dumas is making thirty thousand dollars a month on sponsorships, but now I realize, oh, well, if you want to make money, you actually have to sell something, so I'm starting teo find the affiliates in the beer niche and whatnot and just be, like, as far as a question for john, because you brought up getting in the way facebook groups, and I've had some unsuccessful with people just feeling like I was being too spammy, yeah, and that's why? I always stressed the fact you have to establish yourself as a person of value for a significant amount of time and by significant, I mean, you know, thirty days, forty five days, if you get in there every single day and just for five minutes, you will immediately become one of the most active members in those groups just that five minutes a day, but every single day, and if you just ask questions and answer questions and just provoked, provide support and guidance as you see it, you will quickly saw being that guy that just joined, sort of, spanning and saying oh, this is nathan like he's one of us and then when it comes time for you to say oh louis, that was a great question actually, you know, talked about this in my podcast episode twelve and loose big oh dude, what happened? Where's the link to that boom you drop it in the next thing you know, not just lewis but everybody who has that same question because there you're all part of the same community will be all about that and maybe finding out about it for the first time organically after they already know like and trust you because you're a person of value and that I really want to end by saying, you know, how many times have you asked your avatar's you're perfect listeners when you found them the question what are you struggling with? I've asked him a few times my audience doesn't seem to be incredibly active if I just blast out to my email less, which is up to about twelve hunt just past twelve hundred recently I might get a few responses I don't know is that I'm asking that question them one's last time you sent an email to you listen said hey does anybody have ten two minutes to talk? Go to my website fill out a schedule once form I want to talk to you for ten minutes you have a few questions to ask you and just start having one on one conversations it was brad feld you know the founder of y combinator the said do things that don't scale and he is you know mr silicon valley you have to start by doing things that don't scare what's interesting you say that I was just talking to chase whose ceo of creative live earlier for launch he's like one of the things I do every week is I called ten customers from creative live every week and asked them about their experience spends a lot of ten fifteen minutes talking each one ask them questions about did you enjoy the class where did you enjoy about it how can we make it a better experience for you and he's getting one on one information john um from the people that are his customers where a lot of times we don't do that so and that's why chase's chase because yeah exactly where um you know what I want to make a point thanks for talking again and sharing that nathan I wanna make a point about some of you washing online or here might think man this is a lot of frickin work to get in there and comment and all these groups for thirty days and take all this time but I'm telling you unless you have credibility or authority or influence or you're famous or people know who you are you've got to get them to know who you are and that's gonna take time and energy and work it's just not there's no quick like it's just gonna convert into money right away unless you have that credibility so this is going to take time and energy I mean, I spent two years on linked in essentially doing this one by one with people until I felt like I had the credibility to make some money after a couple years of six hours a day hard work so it's gonna take time that's for sure to build that credibility if you have nothing is what I'm saying um any other questions from online chris or here that you want to ask john now is the time to ask it well I'll get one more in here this one was from paddington bear who's been watching all day hi john and this this question comes from huntington and says john, you've got a strategic mine and I was wondering and you looking at the podcasting marketplace where do you see the emerging pockets of opportunity? For example podcast in different countries or gender specifics? Just some pockets that could be a good good directions to move in if you're just starting a podcast now what people really need to realize and great question party ten hello is podcasting allows youto leverage massive directories just like amazon was the best thing that could ever happen to a budding author that can now circumnavigate traditional publishing and just get their content out there it's both good and bad like now they're able to get their excuse me content out there but now there's a lot more stuff out there and that's how podcasting is you can just like you can publish on kindle tomorrow if you want if you want teo, you can publish a podcast tomorrow like it's there's not a huge barrier but what's amazing is number one very few people are doing it well you'll hear the numbers thrown around a lot like there are two hundred thousand podcast out there which by the way is the drop in the bucket compared to blog's and youtube channels still tiny but ninety three percent of podcast don't go past episode seven so just take away from the two hundred thousand ninety three percent of them cause only seven percent are currently active currently producing content and are still relevant to you so there's even a tinier number than most people realize of actual podcasts are creating consistent content so that's really important now one emerging pocket that I'm seeing and I think this is something that luis is going to be potentially taking advantage of. I know that with my upcoming book launch I am really going to taking advantage of this is that itunes has five hundred twenty five million active members forty five million people are using their search part every single day three hundred fifteen million people are on on their on their iphones every single day with access to the podcast happened itune store in general, if your not leveraging that matt asif community like, what are you doing? So authors are going to be a huge emerging pocket they're going to come on, they're going to say it's going to be kind of the hard court history model if anybody's familiar with dan carlin, where author is going to come on, we're going to release an audio chapter on their podcast to get people to find out about it toe listen to enjoy and then they're gonna release chapter two and they're going to take chapter one away, and then they'll release chapter three and take chapter two away, and they're going to just keep, you know, getting going and there'll be some people that listen to the whole book for free and guess what that is, ok, because if they love it, they'll tell their friends about it and their friends will then have to go on by the book because, you know, on lee, chapter seven is available now and they'll listen to it. It sounds great, you have to start leveraging and for authors that's going to be a great opportunity to start seeing a ton of people putting chapters of their book. Onto itunes we should get because we have the full capabilities of snatching it back and putting something else out there maybe we'll just be a twenty five percent of each chapter and then I will go for whatever it might be there's a lot of opportunity to do that and it's something that I'm going to be doing with the freedom journal coming out this january that's brilliant I thanks for getting that tape I haven't thought about really reading a chapter but I think that might be something ideo um questions in the in the house I think we're good to wrap things up we're going around waken move along to our final slides but thank you john you lead you must thank you for coming on makes you guys go follow him he's got a great podcast on piers on fire free podcast course dot com and it's hell fire dot com right eo fire dot com cause entrepreneurs hard to spell and guys if you're at all interested in podcasting mike completely free course is free podcast course dot com go sign up fifteen days you'll know how to create girl monetize your own podcast there you go thanks john for coming I appreciate it man you're awesome was that helpful to see that to get that kind of inside look of yeah, they was like oh yeah he has a very strategic mind marianne it's like he keeps methodically did his work put in this time and just laid out everything yeah just wonderful he's been every day episode every day for like three years now it's crazy right lot of work but he's doing this you know almost full time so but the payoff is big you know what's a hundred thousand dollars a month of sponsorships alone it's not bad lifestyle right? But one thing I thought was interesting at seven percent roughly that's like restaurants or like five percent maybe seven percent I guess seven percent of the podcast of the some hundred thousand eight hundred thousand right are attractive yeah active thought that's like a restaurant success rate is like what roughly five is good for the first year or something or whatever yeah yeah interesting um was going to say about this one of the things that's cool about you know john and I are podcasts are typically in the top one hundred on itunes and when you're consistent that rate at a high level for that long you'll stay in that top on the ranking and you'll continue to find more people our top three hundred ranking or top ten ranking for your specific category so it's all about being consistent over time um I want to cover the last few slides we have any questions for dio was that helpful was yes well I don't know if you're about to cover this but is I'm gonna make is there any? I don't know how much weight shall we put into the new and noteworthy category of itunes and getting in there? Because I know in some some forums that's, that's like the big thing, and then after that, I don't know what the goals would be either. Yeah, I mean, we should ask that when john was on here, but you know that first eight weeks is crucial. That's the window. You could be in the new noteworthy it's definitely important. Oh, rankin there. So you're gonna throw everything you can for eight weeks to get that ranking and being the new noteworthy so that new people could discover you and you can get a bear following right away. And then hopefully you keep that following after those first eight weeks. You know, itunes wants to support newer podcast, and so they offered that program but it's your job to be consistent, to put out multiple episodes to really build it up. So you get more download numbers and give yourself more rankings, higher ratings, more traffic and helping that time. Are you in the first eight weeks right now, I am I could double up because I've got a couple in the hopper you might do that, thanks. Yes, but what happens when you're after that eight weeks like you're saying what's the next goal what's the next plan I mean, the way I mean there's to try to get in the top ten of your category and stay in that category I mean, this the next goal is whatever you want it to be, you know, for me, it's, just like I look at download numbers was like, okay, I started out maybe a twenty five thousand downloads a month in the first couple months, how can I get two thirty thousand, like, each month was like, how can I increase it? And so I wouldn't just go off of the numbers and see the downloads and then I would also look at rankings on I soon and be like, okay, how do we get in the top ten of my category? How to get the top five how I stay there because sometimes I drop out in the top three of my category. So it's just whatever you want to create for yourself any type of game you know, for me the download numbers is kind of the king if we're trying to monetize and grow, you're looking for more down low numbers mama yeah, a two part question one how much time do you block out and like an average day week month to do everything you're doing with school of greatness as faras the podcast section of it and to any kind of rituals usually do to keep yourself in a peak state when you're going into you know the interviews how much time I'm doing twelve episodes a month three a week right now is the right twelve month and it depends my goal is to try to bash them is often as I can, but since I'm doing so many things things is an entrepreneur I'll try to do a couple interviews at a time the following week or I'd like to be two three weeks ahead of schedule but right now in the middle of so much was happening it's like if I can be you know this week sometimes like you know it's thursday recorded for tomorrow today but I also have interviews set up for the next two weeks on monday and wednesdays so it kind of depends I tried to bash inasmuch as I can but john's like the pro at that you know, eight and one day he does he only does one day where records the rest of time is promoting marketing, scheduling things like that rigid rituals to get a peek state I just take a moment try to take one moment minute to breathe and set my intention for what I want to create in this episode sometimes I'm scrambling in the last minute for meaning the meeting, the meeting to work with my team and then I do an interview and so I've got so much on my mind, and I know that if I'm not present that I'm not going to create a great episode, so I try to take a minute to breathe. I'll sit by myself for a minute in the room by myself, and I just asked myself what I want to create in this next forty five minutes, I just stay focused on that. Would you recommend simon launched my podcast yet? And I mean, I just heard, you know, john says he's just ate every tuesday. Would you recommend getting a bunch of episodes recorded and ready and then just having that with launch for that new note I would otherwise you're constantly recording to try to get it out. If you're to be consistent again, consistency is the key, and if you're always scrambling last minute to put out an episode, then it may not be as producers well, may not be a thoughtful you may just say, I just need to get it done something to put it out there so I would pre record, you know, five to ten of them and have some time to set him out in the first few weeks and then keep staying ahead that'd be the way to go.

Class Description

Lessons

1. Class Introduction
2. LIVE Podcast Demo
3. Is a Podcast Right for You?
4. Getting Started: Make Your Podcast Standout
5. Choose Your Format
6. Purchase the Right Equipment
7. Q&A Basics of Podcasting Startup
8. Find The Right Guests for Interviews
9. Crafting a Great Interview
10. Editing an Episode with Christine Baird
11. Podcast Challenge Feedback
12. Social Media Promotion Strategies
13. Develop Relationships with Your Guest
14. Ways to Promote & Distribute Your Podcast
15. Using Videos for Promotion
16. Affiliate Commissions & Sponsorships
17. Promoting Your Own Products
18. How to Monetize Your Podcast w/ John Lee Dumas
19. Get Creative with Monetizing