How to Start a Podcast in 2021 - Setup, Strategy, Monetization & Fans

here we go three two one hey what's up my name is pat flynn i'm in podcasting for over a decade now and in this video you're gonna learn all about podcasting we're gonna go deep into it we're gonna talk about why podcasting pros and cons how to get started what I wish I had done differently and over the years it's been a an amazing experience I've been podcasting for like I said a decade I have five different podcast right now I've recorded over 1,500 episodes of those podcasts and I've asked over 65 million downloads if you happen to be one of the listeners of smart passive income or ask Pat which are my two main shows thank you so much I appreciate you but today is all about you and learning everything we can about podcasting and how to do it and how to learn the right way and where I want to start is actually with why podcasting podcasting is a really interesting medium it's much different than the other mediums that are out there today you think about blogging you think about YouTube you think about social media these are great platforms that have been around for a while but guess what podcasting has been around for a while too but what's really interesting about podcasting is that it's audio only because it's audio only certain and really amazing things can happen number one in my most favorite thing about podcasting is the relationship you can build with the people who are listening it's just a different consumption experience and I want you to think about and if you're watching this live right now in a chat let me know where do you listen to podcast over 53% of the population is listening to podcasts now and it's growing more and more and in fact people's listening behavior is really interesting because you're not listening for just five minutes at a time or 10 minutes at a time most people on average are listening for 30 minutes or more why it's because of where we are and what we're doing when we're listening to podcast in moments like that we can't consume video we can't consume blogs but we can consume audio passively but actively listen it what's really cool as a podcast creator you know at this point I create a podcast and it's getting blasted out to hundreds of thousands of people every single month which is amazing but to the listener it feels just like a one-on-one conversation it's a very intimate way to scale your business and in fact even if it's not for a business even if just for a hobby it doesn't matter if you have a big niche or you're just starting out and you're starting from scratch or you have a biz and you want it to scale Podcast can be a great thing to include in your repertoire and it can be your primary mode of content creation to which it is for a lot of people in fact many people's livelihoods and their entire career is based on their podcast which is really cool now a podcast is not a business platform it is a means by which you can build a business on it is a platform to attract an audience it's a platform to build superfans it's a platform to have advertisers be attracted so that you can perhaps use that as a business model but I prefer collecting email addresses and then sending people recommendations for tools and resources software coaching program other etc items that are helpful to them whether they're my own in which case I'm making more profit or affiliate marketing where I'm sharing that profit but offering things that likely I cannot create myself and we'll talk about monetization a little bit more but podcasting is so much fun and plus the ease of creation is really great so let's talk a little bit about pros and cons here to further this discussion here about podcasting I think there are some really interesting pros and some cons that we definitely need to pay attention to because it is not the best platform depending on certain things so we're gonna go pro con pro con we've talked about a couple of those pros already the way for you to build an amazing relationship with your audience however a con is the ability to find that audience it's a lot harder for you to have the possibility to grow faster on a podcast for a few reasons number one there just happens to be less podcast right versus the number of people who are consuming or podcast listeners is less than there are people watching YouTube or on the internet searching for things on Google and then personally finding your blog or your website right so there's less podcast listeners and in addition to that there is the ability for you to not have your face be seen like on a video but your voice does a very very good job of helping you be found and actually build out an amazing relationship right this is far beyond blogging where it's just text only there's just something about the voice and I think this is why there's far less podcast because it's a little bit harder to get over that hump but we do know that there are over 500 million blogs out there 500 million active blocks which is just insane right there's so many yet more blogs are starting all the time there's about thirty to forty million active YouTube channels which is a ton but we just crossed on April 20th 20 21 million podcast so although there are less podcast listeners a pro is there's less podcast to compete with and in fact it is those who are starting now who are reaping the rewards and it's it's just still the Wild West out there it's a lot of fun it's easier to create than a lot of these other things but you can also fight through the competition much faster too because like I said they're just much less and now with some really interesting things happening the world of podcasting like I don't know if you've recently heard Joe Rogan's show recently got bought out by Spotify and it's gonna be exclusive on Spotify this isn't this is unheard of to have a platform pay this much money for a podcast specifically but for exclusivity with something that only has a million other podcasts right versus a YouTube channel or a blog or a big brand or a big company with some software this is content this is huge news and it's such good news because what's gonna happen is more and more people are going to be listening to podcasts and what's great is on average people are listening to 7 to 10 different shows so you don't have to compete with other shows that are out there you can complement a person's playlist and add to it and I love when celebrities and big news in the podcasting space happens because I always see more and more listeners come my way cuz that's the cool thing about this platform it's really simple to find you once people know how to find you analytics are not good though this is a big con in the podcasting space analytics are not great and you only have essentially what you have in your hosting provider as far as download numbers where those downloads are coming from the device that they're downloading on and that's essentially yet Apple podcasting Google podcast manager which are other tools that can help you they only show the data from people listening on Apple or Google respectively however you do get a little bit more insight on the consumption behavior of individual episodes you can actually see in episodes where people are dropping off and things like that so there's a lot of just things that are happening in the podcasting space and I would imagine that hopefully in a year's time from now which is why getting in now would be great because you can have your foot planted and as more and more people are coming in you know it's taking the same sort of progress as blogging once what once had write and blogging it very much feels like that it's now starting to get mainstream and you're gonna see a lot more people flocking to it but as always like with blogging like with YouTube the cream rises to the top so hopefully in today's episode here on the income stream you'll be able to understand exactly what you can do to stand out now there's different types of podcasts there are shows that are interview shows right this is very popular where a person is a host and they bring on guests and that's really great for a number of reasons number one you can essentially tap into somebody else's mind and capture that in a moment that you can then share with others so although you might be an authority or an expert on something you don't necessarily have to be to be able to provide really good information in fact for one of my podcasts called food trucker school yes I had a business once about helping people start a food truck did I have a food truck myself no I did not but I became and I played the role of expert curator and that's what's a really amazing thing about podcasting you can curate in a really amazing way where I brought on food truck owners and ask them questions to help teach others to and as a byproduct of that I became an expert in the food truck space and I knew how to start a food truck if I wanted to and I packaged all that information in fact the podcast still continues to get three to four thousand downloads a month now and yes it's very niche and it's much smaller than my other shows but imagine four thousand people a month checking out that podcast and I've recently sold that business and we had products and it was making a few thousand dollars a month but we sold it and it was really great experiment and that was a lot of fun and the other thing that this shows you is that podcasting is sort of like a stage it's a stage but it's digital and it's a stage that's much easier for people to get to in a day and age where we can't go to events and we can't meet people in person a podcast in my opinion is the next best thing in terms of the sort of long-form content that you might receive when you're at a conference and on stage so highly highly recommend it interviews are also great for the ability for you to connect with the person on the other end every time I have an interview with somebody I'm having at least a 30 minute conversation with somebody and you cannot help but build a relationship with that person especially if you vibe right especially if you have a great chap in many cases a podcaster who I invite in the show will invite me on their podcast too we'll talk about podcast growth later but that's definitely a smart strategy to get on other people's podcasts whether you have a podcast or not Seth Godin recently said that podcasting is the new blogging if that's the case well then guest podcasting is the new guest blogging a great way to grow your show but like I said you can build a relationship and build friendships with the people who come on your show and in fact I have a number of students who take my course power up podcasting when I ask them why did you take this course they said well I wanted to start a podcast because I just wanted to connect with industry leaders and the by the secondary aspect was you know growing the show and getting listeners they just wanted to use the platform as an asset to build relationships let me know in the chat if you're watching live right now if you have built relationships with people who you've interviewed on your show if you happen to have a podcast - I can name a number of people who I've got to know as a result of the podcast I got to know Tim Ferriss I invited him on my show when one of his for our books came out and he was more than happy to do it if I just asked him for time the pick is bright and he definitely would have said no he was so busy but because I had an asset where I can show off his book and I could bring him on and you know feed people his way he was definitely you know there was a possibility of him saying yes and he definitely said yes now I did fanboy a little bit when I interviewed him on my show in episode 51 of the podcast you can go listen to that if you want so smartpassiveincome.com session 51 but I made the mistake of fanboying a little bit for about five minutes up front before actually getting into the content I connected with and became amazing friends with chalene johnson Sean Stephenson from the model health show Chris Ducker who's now one of my best friends we connected via a podcast and Gary Vaynerchuk Gary Vaynerchuk the probably most busiest man in the world I was able to connect with him funny story I connected with his assistant he was coming out with a book he's like yeah we can get him on your show but you only have 15 minutes and I was like whoa my episodes are only about an hour so I'd love to have him on for longer and they're like no 15 minutes is good but even though it was just 15 minutes we connected I became friends with him and now we connect with each other every once in a while and in fact we are both on the board of pencils of promise which helps build schools around the world which is really cool and really fun so connections man connections go a very long way and then you can build Authority through association through the people that you interview on your show really really amazing things can happen now there's other types of podcasts again we're talking about types of podcasts now there's arsh there are shows that are more solo shows where it's just one person and they are the hosts of every show and they're delivering the content their storytelling and even though you might be mentioning other people it's essentially your voice the whole time and a good example of this is Chris Kuehl about who has the startup podcast or not the startup podcast side hustle podcast right and he wrote the book $100 startup there's all these podcasts that have very similar names right there's Nick lopers the side hustle show and a few others too but just let me turn off my notifications here authority through association yes indeed thank you Jim and I appreciate that so solo shows are great because you don't have to worry about scheduling which is one of the hard things about doing a interview show and it can be very intimidating to talk to other people but I would highly recommend trying to do some interviews org or maybe even don't consider an interview perhaps have that person come on as a co-host you can start with your friends make it easy on yourself and that's how it gets started then you can branch out to other people who you reach out to cold a solo show however does an amazing job of positioning you as an authority however it is significantly harder to create because you have to talk by yourself for however long and you have to keep it interesting you have to keep it going now the beauty of podcasting is that it's recorded ahead of time so you can sort of record a bit stop catch your breath think about the next portion continue recording and keep going and when you swish everything together at the end you have this beautiful show right and you are painted as an authority a little bit more research goes into it however interview shows aren't as hard or aren't as easy as they sound yes you have to ask the right questions but you have to ask the right questions you have to stay and keep that person engaged you have to pull out that great information and try to get stories to come out storytelling by the way is what podcasting I feel is meant for no matter if you're doing solo shows or interview shows or a mix of both like me try to pull out the stories as much as possible you have a lot more time to work with in a podcast so you can get a lot deeper and emotional with the content that you are creating even if you happen to be creating an episode that's like a list post like top 5 strategies for Facebook as in 2020 I would still tell stories that lead into those tips just a basic list post well that can be done on a blog that can be done in a video very simply but a podcast where you can go a little bit deeper you can get people to connect more you can have more context related to the lessons that you're teaching and again you can position yourself as an authority and people can build a relationship with you so there are other podcasts that are you know and essentially if you just go into your podcast subscription service whatever you use for podcasting and listening you'll find a lot of different mixes of different kinds of podcasts there's definitely the more NPR style podcast which are essentially like more journalistic type podcasts which do so amazing things like adding background noise background music and just creating essentially an episode that feels very very produced now mind you they have multitudes of members of teams so they are able to do that and do it much simply much more simply I'm not good at grammar right now but there that it's much easier for them to produce because they have a whole team to do that but you can't add a little bit of flavor onto your show by adding background noise background music by playing with the dynamic dynamics of your voice asking really good questions telling more stories so yeah there's a lot of different kinds of episodes now what works for you is gonna be different than what works for me but I would experiment I would definitely and highly recommend if you were thinking of going solo only try to do a couple interviews every once in a while or have a co-host come on and make it special it doesn't have to be every single time but the most important thing is that with your podcast you try to remain consistent no matter what it is you can't experiment with different episodes in fact pattern interrupts are really important in podcasting too maybe every episode is an interview show and you just happen to do a solo show one day and make a big deal about that where it's just you and you just paint yourself it's this Authority about a new topic that you're talking about and then you can see how people react you can see what people like what people don't like and I would advise that you listen to other podcasts too to see what style you like so you can adopt it yourself don't copy other people but see and get inspired by others and adopt it to your own show - next let's talk about what I would do if I were to start over because having done this for now ten years there's many different things that I would do differently if I were to start over today in fact at number one you kind of realize that when I started it took a long time December 2008 is when I committed to starting a podcast so this was over 12 years ago or about 12 years ago and I wanted to start a podcast because it was a podcast that changed my life in fact it was called internet business mastery and it was one single interview that I heard on that show that changed my life and it was an interview with a man named Cornelius Fichtner who was teaching people how to pass the project management exam the p.m. exam and I was listening to that soon after I got laid off and that's what inspired me to create a website to help people pass the lead exam in the architecture world led and that just changed everything for me so I have internet business mastery and Jeremy and Jason the - host of those shows who to thank for and it's just was life-changing so I always knew I wanted to start a podcast because a podcast changed my life so I bought all this equipment in 2008 and I even posted a podcast or I even posted actually you want to listen to it you want to listen to the very first audio file that I posted online I think I could find it here live on the on the on the stream so I'm gonna go to YouTube right now because I have it here and I want to play it for you I want to share with you just how ridiculous this first audio file wasn't again this was in 2008 so I'm gonna go to my video channel here let's see you can watch follow along audio recording let's see if it's it yeah there we go my first audio recording is about a minute length so I'm gonna play this for you and you can you can hear what it sounds like [Music] well what happened there I lost it can you guys hear it did it go away let's try this again one more time I don't know what the rock music is wor that is just I don't know hey everybody this is Pat from the smart passive income blog thanks for taking the time to listen to this I think that's so awesome that you know you guys are helping me out figure out all this new podcasting stuff I'm actually just bought a whole bunch of podcasting equipment for myself because I mean I listen to a lot of podcast so I figured hey why not do one so I mean really I really don't know what I'm gonna talk about yet so I just wanted to get familiar with all the equipment that I have right now and uh what it's like to post something online and hear what people think about it so I mean you tell me should I give up on podcasting now because my voice sucks so bad or no should I talk a little deeper or I know I have really have no idea so again just thank you so much for taking the time to listen to me keep coming back to the website I got tons of information coming up in the new year and let's make 2009 a great year for all of us let's make it let's make it the most profitable year we've ever had and you know I'll try my best to help you get there so again good luck with everything happy holidays and this is Pat Flynn from the smart passive income blog signing off peace that was 12 years ago and that is very cringy to me I had good equipment right so I sounded okay but you could probably hear the tone of my voice it just was not very confident and in fact that was my 10th time recording that before putting it out there it was something that was very afraid to do in fact I just was not confident but I put it out there and that was December of 2008 my first episode came out in July of 2010 after that recording I waited a whole year and a half to get started because I was so afraid I was afraid of what people would say about my voice I was afraid I was just gonna be wasting my time I was much more comfortable blogging and every time I tried to start I would find some excuse to go back to blogging because that was my security blanket and hopefully you can see that I've improved a little bit in terms of communication over time I now have recorded over 1,500 podcast episodes 65 million downloads if I were to start over I would have just I would have just put it out there much sooner my first episode even even in July came out I had three different recordings of it I recorded it once it was terrible absolutely absolutely trash all right so I thought second time I recorded I in fact wrote every single word I literally scripted it out word-for-word I read it and I almost put myself to sleep in the third time I said okay I have a decision to make here this already took like two days to do and I have nothing to show for it I either have to just hit record and go and be a B be terrible at it and as I said yesterday in the YouTube tutorial much like that you have to be a disaster before you become the master and so I was just like you know what I'm just gonna put it out there hums and pauses and awkwardness and all and I put it out there and now a decade later I only wish I started sooner so I plead with you if you've had an inkling of a thought of starting a show definitely start your show if you have a show and you've been holding back even maybe not very consistent and you're worried about it a little bit and you don't think it's a it's worth your time please put it out there put it out there your audience is looking for you and waiting for you especially now this is the best time more than ever to get started with the show don't wait on this you're going to regret it like I did now there's some other things that I did when I started my show that I wish I'd done differently number one I wish I had studied storytelling sooner and I wish I'd studied being a great interview sooner I did both of those things and when I started learning more about storytelling and structure and interviews and asking follow-up questions and how to remain curious during a podcast episode and how to ask deeper questions that probably other podcasters aren't willing to ask that's when I started to see really good results because the content spoke for itself and with podcasting what's really interesting is that word of mouth is a big strategy when you create stuff that's worth talking about people are gonna talk about it and people will go listen because it's free there's no there's no barrier other than hey let me show you how to find that episode and so I only wish I started learning about those things sooner another thing I wish I did look for differently was thinking that I had to do every bit of the process myself forever now I'm very thankful that I did everything myself at the start I think it's important and I teach this in my course to try everything yourself including editing and all the all the components of podcasting but podcasting can gets to be a drag and in fact you'll find that there is a honeymoon period in the world of podcasting and there's something called pod fade honeymoon period in the beginning it might last two to three months where you're really excited you're stoked it you're okay with getting up there and editing and spending five hours per episode to put it up there and it's great but then as soon as you hit publish you got to do it again and there's a lot of strategies that I teach in my course about batch processing and getting ahead on your calendar which I definitely recommend you do however there's this thing called pod fate where after a certain period of time you just get tired of it you kind of want to try something different more exciting it starts to feel like a chore again and that's not good because then your show will die and you haven't even given it time to get to the point where it can reach critical mass and start to grow exponentially without you having to do anything and that takes time to get there it takes absolute time to get there so doing it all yourself all the time can be hard however there's a lot of people especially now a lot of companies people support agencies who will help you create your show from everything from editing your podcast to booking your guests on your show to doing your show notes to publishing on your on your website to marketing to advertising and there's so many things that didn't or that weren't available when I started so now's the perfect time you literally don't have excuse any excuse not to do this but I would recommend after a certain a period of time when you're ready and you know you're committed to doing this find different ways that you could start handing it off to others it took me six years to get comfortable with having somebody else touch my show and in fact it started with a secondary podcast that I had asked pat and in 2014 when I finally got comfortable having somebody else create that show for me I started my world opened up for me I started to become so much more productive and started to turn into a machine that was almost running on its own and I'm at a point now where I can record an interview with somebody on squad cast to do interviews although you can use Skype and zoom in other free platforms like that but I love squad cast big shout out to them I can record that interview I can put that interview file into Dropbox done that's literally all I have to do I know because we've planned ahead of time with a title that episodes gonna be where it's gonna be posted when it's gonna be posted it's all handled by my other team members so yeah it's pretty crazy let's see a patient's life says so true hired someone when I started to pod fade in and made a huge difference with consistently absolutely April says for those of you who are struggling with coming up with content for lives or podcasts just do a deep dive an article and other people in your niche put your spin on the work of others yes or you might have a blog or a youtube channel and there's stuff that's popular there too you can put your own spin or voice into it in a podcast I talk a lot about the same things on all these different platforms sometimes people will only want to have it in a audio format other times people will want to go and listen to it everywhere or watch it or read it and consume as much from you as possible so let's talk about first steps your first step is definitely to understand well what it is that you want to create a show about it's definitely important to nail what your show is about and who is it for and nailing that niche because when you can understand who it's for you can better understand what kind of content to create like April is just saying in fact I would recommend figuring out what all the questions are that people have about that topic I would do a deep dive like I talked about in my course smart from scratch when you create your Markram have to understand what is out there in that space what are people looking for what's popular what are the trends and if you have a blog or an audience already you can utilize that audience you can ask them questions about what they would like to see on your show or who they would like to see on your show when you ask your audience first especially on a public platform like social media that becomes great proof for you to take to somebody who you want to have on your show and go hey my audience would love to have you on my podcast how might I how might we make this work but just starting out you know like I would nail the title of your show first because that makes it real I think Seth Godin once said that when you name something it becomes more real even if it's not created yet just feels real this is why I like classified things have names like Project Falcon right or whatever and so I think that naming your show and then being able to describe it to others can help you paint a visualization of what it is that you want this to become it also helps influence what you want to talk about who you might want to have a guest on the show and all those sorts of things now really important obviously at the start is you need to get ready to record and you need some equipment so I want to do a quick shout out to a company that sent me a microphone in a minute here and I want to talk about it a little bit because there's been a lot of debate about microphones and like I always want to make things as easy as possible for you I mean you can spend I mean this microphone here which is the Heil Pierre 40 this is a $300 microphone and it's attached to a $200 box which is attached to my computer and it includes $15 cords right like they're like XLR microphone cords that's a lot and my job is to reduce a barrier for you as much as possible so I recommend starting with a USB microphone and there's a number of different USB microphones that are great out there and in fact that's all you need you just need to plug it in and that's literally all the recording equipment that you need however you can obviously make it a little bit better by having a boom arm to go into it this is the boom arm that allows me to keep it off my desk and move it around wherever I want I also have something here that you can see it's called a windscreen this allows for the wind from my words to not enter the microphone which would degrade the audio quality but there's a couple microphones that I've recommended for years this is the ATR 2100 by Audio Technica this is a great USB mic as you can see underneath it there is a USB connection and an XLR connection so if you had some of those fancier things you can actually pop that in here too however this mic has been discontinued unfortunately now there's the ATR 2100 X which is more expensive but it's USB see it's a little bit more powerful I've reviewed it on the channel here before and it's a great microphone however it isn't about the hundred dollar price range the mic that I've been recommending lately is the Samson q2u the Samson q2u microphone is the microphone that we've been giving away here on the stream for so many weeks in a row now which is great and it's very comparable in fact a lot of people prefer it over the audio technica and the accessories that come with it like the stand and other things go really well and go a long way too however a lot of these microphones are now sold out however there is a microphone that I want to share with you that was sent to me from a company called Harman it's the AKG Lyra in fact I have it right here and this is a great all-around microphone this is not necessarily sponsored but they did send this to me so I just want to be upfront with you I'm gonna unbox this really quick we're not gonna spend too long on this but I just wanted to give him a shout out because I sent this to me but this is a great microphone because it allows you to do some really amazing things a little bit more control than what you have on the USB microphones like I just talked about what's really cool is you can actually use this to interview somebody in person and you can have a person on the other end of the table it can actually capture sound on one side of the mic and on the other side of the mic it also has a really nice crisp sound it has the ability for you to not necessarily have it right in front of your face so if you're doing a lot of life streaming and stuff and this is the microphone right here and this is a beautiful microphone too and it just came out so there's a lot of them likely available unlike the Samson in the ATR which are just like flying off the shelves but for live streams and YouTube this this will work and for podcasting especially if it has that feel of like a radio microphone I don't know if you can see this but it has it has a really cool feel and it allows you to adjust things like microphone patterns and the gain right on here and you can mute it and you can change it and there's in fact underneath you'll see it's a USBC connection you can tap in your headphones there too it also is an audio output but look at this thing like this looks legit and it doesn't have to necessarily be right in front of your face but like I said you can turn it this way and you can have somebody on this side and somebody on this side it'll capture them both really really great so thank you a kg and Harmon for this mic I'm not gonna plug it in right now because we're gonna keep going here with the content but a good option for you that I haven't talked about before and I'm excited to play around with this I'm gonna do a full demo video later on and I think because it's USB see you can also connect it to your iPads if you want to do some live streaming and some podcasting on your iPad which is really cool so that's really that's really awesome thank you to Harman cool so let's keep going here first steps definitely first steps is to determine what your contents gonna be about so this is a this is a huge thing I often teach my students try to come up with 25 different podcast episodes and/or guests you don't have to nail the title right away but just see if you can come up with that much content so that way you're not just struggling from day one alright like oh my gosh you have to create another episode what's it going to be about you want to know these things ahead of time and I think that will take you a very very long way it'll also validate that this is something that you can do I know a lot of people who get started with podcasting they're like okay let's do this and then it's like okay I'm three episodes in what am I going to record I have no idea if you plan ahead of time it'll validate whether or not you can come up with a content and that's where I would start it'll also help you get excited about moving forward too so we talked about a little bit about equipment in software that's something that's really important as well in terms of software that I'd recommend to record into I would highly recommend checking out either GarageBand if you're on a Mac or audacity if you are on a PC and these are both free in fact you might have access to GarageBand already which would be really neat but if you wanted to check out a tutorial how to record a podcast on GarageBand look at that number one Pat Flynn hundred eighty-two thousand views that's what I would recommend if you want to learn these sort of ins and outs of editing it's not very difficult in fact it's basically the same in all these programs you don't have to get super fancy with it and literally with a lot of these programs it's you record your audio either on the outside like in an interview and then you drag and drop it in and it pops in there and you can remove the parts that you don't want you can move things together you can make things louder softer you can add layers like music and other parts to it too and and that works really well and if you'd like to do audacity how does it how to record a podcast on audacity look at that two hundred eighty nine thousand views people like audacity even it's good for mac as well if you're not a fan of GarageBand my first software was GarageBand I use GarageBand for five years and it worked just fine and you export it as an mp3 and then you pop it into your hosting provider I'll talk about that in just a minute now if you'd like to capture interviews there's a couple programs that you're probably very familiar with you can record on zoom although the quality is gonna be a little bit less Skype is a little bit better and it has built-in recording into it as well however it does get compressed a little bit and it's good enough but if you want the Premal audio quality I'd recommend checking out a company called squad cast if you go to smart passive income that coms slash squad cast that is my affiliate link that'll take you to a tool that is really interesting because it records locally on both ends and then it allows you to download it in the highest and most premium quality even though it's done on the Internet what I love about this is it helps you schedule a podcast with your guests too and full disclosure I'm an advisor for the company I love this company so much I actually asked to come on as an advisor and they're absolutely amazing and they're doing some great things to make the guest interview experience even better from the green room to just what it's like to just send the link to somebody to come on they don't have to download anything unlike Skype or zoom which is really cool so smartpassiveincome.com slash squad cast now in addition to that you're also going to need a host when you export your files from these pro from these programs you have an mp3 file you want to actually put them on somewhere where people can then start to download them because the way that podcasting works is not like YouTube where you publish of it you publish a video by uploading it to youtube in then everybody who's subscribed gets to it it doesn't work like that in fact what happens is you have to upload your file to a podcast host I prefer buzzsprout but there's many other ones that are out there that are great to Lipson and a lot of people like anchor I'm not a big fan of anchor cuz it's free and you know you lack a little bit of control there but it's great too but I prefer buzzsprout and in fact if you go through my affiliate link smartpassiveincome.com slash buzzsprout you'll get 33% more time added to your plan and what buzzsprout does is it allows you to get on all those different platforms like Spotify Google Apple podcasts with literally just a single click of a button and what that does is it gives you the ability for you to take that RSS feed and this is where the technicalities of podcasting still is a little bit more difficult for some but you upload all your mp3 files to your host they give you what's called an RSS feed and then you give that to Apple you only have to do that once and every time you come out with a new show Apple goes hey you know Jamie came out with a new show okay let's blast it to everybody who's subscribed there people are subscribed to podcasts on all different kinds of platforms you only need to upload your podcast to one spot and that's your podcast host and I recommend buzzsprout for sure ok let's dive into a lot more about how to grow your show and we mentioned a little bit earlier that probably the best way to grow your show is to get on other people's podcasts right this is very similar to how blogging work back in the day as far as growing your blog get mentioned on other people's blogs comment on other people's blogs and make sure you include your URL there so that when people see the comment they can click over to yours - which is less popular today and definitely not possible in podcasting but being a guest on another person's show works better than anything and here's why because listening to a podcast still has a lot of friction if you say for example like the most amount of friction is if you were trying to get a cold person who doesn't know who you are to subscribe to your show right imagine you're running book ads for example and you're trying to get more podcast listeners on Facebook well people aren't on Facebook to subscribe and listen to podcast you're gonna interrupt them number one so you have to really have an eye-catching image and add and and copy you have to convince a person to then open up their podcast app or to click to open up the app so then get excited about the show so hopefully have a great description and a title that's compelling and then click Play and then if they like it then they'll subscribe there's so much friction there's so many steps as opposed to if you're in a guest on another person's show the person listening to the podcast is already open with their podcast app they can just find your podcast from there plus you're getting endorsed by somebody who they've already earn trust with so that just goes I mean that should just be your number one strategy to do now I'm gonna teach you another strategy here that I've taught my students and a lot of my students have done this alone and I'm gonna describe it for you in fact I have a video on YouTube about this that let's see Pat Flynn traffic building strategy in case you want to get a little bit more honed in on this but this is the video here hey what if I could tell you that you can grow your blog YouTube or podcast following by just simply asking one simple question what is that question and yeah what is that question well that's the strategy that's the video Pat Flynn traffic building strategy and the strategy is essentially to crowdsource from other people who have audiences in fact let's just even take Facebook groups for example imagine this you you ask owners of Facebook groups one question you can get access to those owners and admins without even having to join those groups or LinkedIn or any other members that membership platforms that are out there consider asking those people like let's say I am let's say I'm you know an artist and I teach other people you know oil painting right I don't but let's just take that as an example I'm gonna go to these different groups on Facebook that do oil painting I'm gonna go to their admins I'm gonna ask them one question what's one thing you wish you knew before you start at oil painting or what's your favorite oil painting canvas combo I don't know if that's a thing or what is your favorite types of artwork to to paint right whatever the one question is I want to ask the leaders of these groups the same question in my podcast episode I'm going to take all these answers and put them in there so now imagine a podcast episode that has 10 answers from 10 different groups number one people are very likely to jump on the chance to be featured on your show it feels very much like a radio show opportunity where yeah you're getting exposure number two the chances of them sharing this in those groups is very very high because guess what you've done you've allowed them to use your asset your podcast as a platform for them to look like a hero in fact that's it that's essentially what you're doing they're able to see themselves even more of as a leader and are going to recommend your show because they're going to be able to put it out there and show that they are sort of you know the authority that you're giving them you're giving them the ability for them to share and look good in front of their people and that's an amazing thing and that's strategy alone I know some students who have used literally from scratch no connections whatsoever that strategy alone which I teach a little bit more in detail in my course but in that video as well that will help you to to grow to tens of thousands of downloads per month like literally just that strategy alone works extremely well so the question can be what's one thing you wish you knew in fact I did this to launch food trucker and if actually you go to Google I did the same question to launch food tracker how to start a food truck literally like the most popular question in this space so I'm gonna scroll down and you'll see look at that food trucker number three this is the business that I started myself that I recently sold but look how many comments are on this 2533 this this is not just because it's a great way for you to connect to other food truck owners but it's a massively valuable like imagine somebody trying to be brand new starting with you know art oil painting right they want to know from these other oil painter artists like what to do and what not to do like what's a big mistake that you made right I've done this several times before to if you look up let's see 15 entrepreneurs smart passive income here I did the same thing on this podcast 15 entrepreneurs speak out what I wish I'd known before starting my own business here the different pot here the different different authorities that I asked to come on and they were it's very simple for them to do and in fact the way that I actually recommend you do this is go hey by the way thank you I'd love to have you answer this question instead of just scheduling something and having it be an inconvenience go to speak pipe comm slash Pat Flynn speak pipe is a great place where you can just literally hit record and guess what it comes back as an mp3 file that I can drop into that file so we're getting a little bit more advanced now by crowdsourcing using tools like speak pipe to collect people's voices without having to schedule and record anything it does recording for you and again like I said it could take you a very very long way in creating a really amazing high authority very valuable episode to help you grow your show now again another great way to grow your show is to just focus on how much you can offer value so that in exchange you can get people to share word of mouth word of mouth is still a big and I know it's it's a little bit more difficult because we aren't there at the watercooler when people are talking about your show however you as you've might have found with other shows that you perhaps listen to like the Joe Rogan show when there's something newsworthy and noteworthy that happens on the show you share it with others right now I'm not saying you have to invite Elon Musk to smoke a joint or something to get the news but in your space in your niche what would be the equivalent of something that's newsworthy let's let's let's go both let's go bake let's try to invite somebody who perhaps is even a little bit controversial or somebody who has just the most amazing story that is worth sharing with somebody after a person listen to the show I always envision how can I imagine a person who listens to this episode that I'm about to record how can I envision them getting so excited about telling other people about this and in fact I'll call to action to do that you can go a very long way to now if you have an email list or a blog or another platform already obviously sharing your show there can help out a lot but I prefer to get on other people's platforms by the strategy of being a guest on another person's show or this crowdsourcing traffic strategy to get on other people's groups by having them share the show because if you went in there yourself and shared it guess what you're gonna be spam even if it's a very helpful episode but those two strategies alone can take you a very long way in growing your show for sure cool alright next let's talk about to finish up here and by the way if you want to get a little bit deeper on this I do have some information and some stuff to share with you over at path line comm slash podcasting Pat Flynn accomplished podcasting more information there if you want to go a little bit deeper and in fact if you're watching this live that is actually a webinar that I'll be doing today goes a little bit more deeper into some of this stuff for you but hopefully you're getting some value from today we're having a lot of fun and let's talk about how you make money with your podcast I think there is a and by the way thank you Brian who's like dude aha moments there's a lot of aha moments and things like this and I hope that you're having some yourself if you were in the chat right now let us know what your biggest aha moment is so far from what we're talking about today and I'll take some questions after I finish talking about monetization so how can you make money with your show the most popular way to make money with your podcast is advertising and sponsorships however it's not the easiest thing to get started with and I actually wouldn't recommend it and remember every time you mention another thing that's somebody going ok well I'm gonna go there instead of going deeper into what you have so advertising is not always the answer especially if you have your own products to sell you can double dip though you can't have advertisers and sponsors on your show and mention your own stuff too so it's worth exploring however it's a lot more complicated there's a lot more friction involved you have to communicate with these other companies and I would start with companies that you perhaps use or you have experience with and I would also start with companies that you know are also out there on the other podcast sponsoring already however the barrier to entry is much higher they're gonna want to see listeners and the way that podcasting advertising works is it's based on a CPM model which is cost per Mille or cost per 1,000 downloads and on average you get about 18 to $50 CPM and depends on the company and what it is that you have to offer you can also include other things like hey if you sponsor the show you also get access to my email list and space on the website in our show notes etc so you can add and increase the income from there but if you have like 10,000 downloads per episode right 10 times let's say $20 CPM so you're gonna make $100 per episode right if you have $10,000 so it may not be worth your time considering there's other mechanisms that could be much more profitable for you the number-one and easiest way to make money from your podcasts in my opinion is affiliate marketing affiliate marketing is recommending another person or another company's product to your audience and when a person on the other end actually go through your link which is what tracks that you are making the sale for them and actually follows through and makes a purchase you get a commission and you get a share now it starts on the low end from 1 to 8% on Amazon if you're an Amazon associate and you're mentioning products it's pretty low but if you're gonna be mentioning in that product anyway in a process or in teaching people something well you might as well make a little bit of money from it too and you can do that right from episode 1 in fact I consider that like planting seeds and although you might have very few listeners upfront I have a lot of people who now even after 10 years go back and they listen to episode number 1 in fact episode number 1 of my podcast still gets a thousand plus downloads every single week now which is pretty amazing and so the things that you mentioned early on can work for you later that's the beauty of podcasting it can be very evergreen these things people want to listen to over time it's much like a television show or radio show that people want to continue to listen to again and again and again now selling other people's products is a little bit more difficult than selling your own because it's not your own product right and this is where affiliate marketing is also a little bit of a struggle for people because a lot of people take advantage of how easy it is to do and in fact that's why it's been given a bad name you find a product with a high commission and you Ram it down your audience's throat until they can't just do anything else but buy it and that's not the approach you want to take in fact you want to make sure that the products you recommend are in alignment with who it is that your audience is and what they need and when the product aligns perfectly it's almost just a natural sell you don't even have to sell it's just a natural part of the conversation one thing that you can do with your podcasts however to take this a step further is you could invite the founder of the podcast or the founder of that tool on your show so if I look up on Google here Pat Flynn Nathan berry podcast you're gonna find that I interviewed Nathan berry in episode 240 for this one podcast episode loan because we mentioned convertkit he's the founder of convertkit which is an email service provider but I didn't invite him on the show to talk about convertkit and why it was awesome and why people should switch to it or start with it we talked about his story we about how he bootstrap this company from scratch right that's really what it was about and through that you heard stories about why convertkit is the way it is the decisions that he made starting this business and the struggles and the way that he almost gave up and the advice that he got along the way you can't help but build a relationship with Nathan while listening to this show even though I'm the host and as a result of that when people are considering convertkit over other email service providers they'll either remember this episode in the conversation that I had with Nathan they'll get excited about it or I can point people toward this episode so that people can earn trust with Nathan and the company and convertkit and then be more likely to actually follow through that one episode alone is accounted for over fifty thousand dollars in recurring income it's not fifty thousand dollars a month but over the course of the years that that episode has come out that's totaled over fifty thousand dollars because when a person gets in to convertkit with a thirty percent commission even at the low rate it's adding up over time and as long as a person stays in they continue to pay me convertkit continues to pay me and that's at no extra cost to those people so use your podcast to invite the founder or perhaps even a user of that product on to talk about that product and the experience and the story behind it and it can go a very very long way another way to monetize your podcast is obviously to sell your own stuff and I know a lot of people who mention their products on their show and they almost kind of treat their product as a sponsor hey this was sponsored by power at podcasting my own course that I want you to get into because it's gonna help you start a podcast and get listeners on day one but I would much rather you use your podcast in this format if I go to smartpassiveincome.com slash session 285 no is it 285 let's see 275 excuse me so here's a podcast episode I did real stories from three three brand-new podcasters this episode came out the first week power podcasting launched publicly I invited three of my beta students on who had succeeded with my course that was a way for us to test and validate it but also collecting these stories and then showcasing their stories on the podcast here this episode accounted for over a hundred and fifty thousand dollars worth of online course sales of our powerup podcasting because I was able to use this asset that we're talking about here a podcast as a platform to showcase the heroes that we created from our course so this is a story brand this is painting your audience as the hero of the story you are not the hero you're the Luke Skywalker or you you're the Yoda right you're making little yet little Luke Skywalker's but you are the Yoda you're the guide right so I positioned myself as the guide here but I didn't have these people come on and go hey tell me why power up podcasting is awesome no no you don't want to do it that way I positioned these people who were again students of my course as tell me why you started a podcast tell me what the challenges that you had were and the objections for example dr. B who is a woman over 60 years old who started a podcast and her show is about ADHD and living with ADHD and what to do and all that stuff she's amazing she came on and she said I just struggled so much I didn't know that I you know I didn't think that I could do it because of the technology I'm just very dumb when it comes to those things but Pat do your course was able to make it make it easy and I was able to do it Thank You Pat like it wouldn't have happened without you it becomes the most amazing testimonial that's not forced because you're talking about the before-and-after picture for them in fact she tells this beautiful story of now not believing that she could do it to now having a map in front of her computer that every time she gets a new podcast listener she puts a pin up in a different country that she's in and I asked her live on the show there how many countries she's in and she's like I'm in 33 countries helping people who were dealing with ADHD and I'm like that is amazing I have another person on the show who talks about how she had an offline business and then took it online with a podcast and has now since just tripled her income and just different examples of different kinds of people so that's what I want you to do with your podcast use it as a platform not just to interview a listers in your show but also as a way for you to interview the heroes that you are creating with your work the Luke Skywalker's in your audience again very story of ran link and that's what I recommend you do so I'm gonna spend about two or three minutes here answering a few questions because Wow how did we get to the top of the hour but if you are in here live let me know if you happen to let me know what was the most helpful part of this tutorial here for you we talked about a lot of things obviously we have to go a little bit deeper to actually start making things happen I recommend you check out Pat Flynn calm flash podcasting I have a about in two hours excuse me three hours we're gonna be going live with a webinar and you will have another chance to ask some questions if you watch the replay that'll take you to some place where I can help you further later on but a lot of great stuff here today and if you're watching the replay let me know you made it to the end as well I much very much appreciate you for that - like I said while we talked about a lot of things already how is it the hour over already amazing I love the map thing that's cool thank you yeah dr. B's awesome hundred twenty three likes we're doing great today I love little Skywalker's and I want to be Yoda don't tell Pat Flynn stormtrooper behind him no yep but I have the Mandalorian with me - I have the Mandalorian if in case you didn't see that would you post unedited recording if and only if I could mention up front that it was sort of raw and recorded perhaps it was because it was unedited and recorded live somewhere right or I just didn't have a chance to edit it in which case well it might come across as well maybe I'm just being a little bit lazy but I would definitely recommend editing your show as much as possible but don't edit every little thing in fact I know a lot of people who just don't get started because they want to edit out every pause every um every breath and don't do that like I would just force yourself to put it out there it's gonna be bad be a disaster first before you start to become the master it takes some time but put it out there in the way that you can put it out there because every day that you don't have your podcast up and running is a day that you don't and are losing the opportunity to have the ability to actually build a relationship with somebody and have people become your fan because really that's what eventually happens you have fans and I don't know if you could see this behind me here but there is a wall back there there's the wheel the pathline wheel but there's a wall back there of thank-you notes and these are thinking notes from my audience 99% of them come from people who listen to the show they mentioned the podcast they don't mention my blog they don't even mention my youtube channel they mention the podcast because of the relationship but like I said you can build with your listeners on the show question how do people find your affiliate links do you point your listeners to your website you can either point your people to your website and say hey go to this go to the show notes page click on the link there or you have a really nice affiliate link where it's easy to remember and that's a really big thing that you have to do on your podcast you really have to make sure that if you're giving a call to action that it's easy right if it was affiliate link it would be like hey go to smart pesum convertkit comm slash equals question mark four to a B Q equals slash and it would just be like what verse says hey go to smartpassiveincome.com slash convertkit simple enough i use a wordpress plugin called pretty links I just use the free version the lite version to do that and it works extremely well cool question with the purchase of Joe Rogan's what does Spotify future plans will they compete with YouTube I'm I'm thinking they might become the YouTube of podcasting which is really interesting because of the video component especially but also they want to just own audio they want to own audio and right now they still use RSS feeds although I know now that with the purchase of anchor you could perhaps have it in a way where you're sort of uploading instead which is really interesting and I just think they're gonna be continuing to grow and build their podcasting base because they want to own podcasting much like how they own a lot of the music and Apple has just been doing nothing they've been sitting on podcasting and not doing anything not connecting advertisers not helping podcasters out for years and only finally they're starting to make some movement but Spotify is killing them and so it's gonna be really interesting to see where the future of podcasting is as a result of these tools and stuff another great morning with Pat Flynn learning so much great information value bombs daily thank you so much appreciate that Susan says can I do a podcast without using a webcam for remote interview Skype and zoom makes me feel that I have to have on it no you can do audio only in fact most of my skype and Zune calls when I'm recording for a podcast previously before I went to squad cast was just audio only and you can just position it as as such up front just hey it'll be audio only you won't we need to be on camera that'll make the person on the other end feel more comfortable too however I know a lot of people who like to turn on the camera even though they're not gonna use the video because they like to have that interaction there's a you know some people sense feel that there's a little bit more of a vibe there you can have like visual cues to help understand who goes next and what whatnot but I prefer to have you know audio only personally this is gold Thank You Pat Flynn you're welcome Jennifer I appreciate you thank you for the great episode today you're welcome Cheryl question how would you recommend most effectively to use audiograms to promote your podcast so audiogram is essentially taking clips and pieces of your show repurposing it and putting it onto social media into stories on Instagram into your Instagram feed into YouTube or Facebook or Twitter and repurposing is great however I know a lot of people who take more time repurposing their stuff and actually creating the thing and in fact it could take up a lot of time time that you might be able to better use marketing your show making connections getting out there and engaging with your audience so I think that if you're gonna do it try it see how you can make it simple for yourself there's a lot of tools like repurpose stuff io or WAV with two V's Co that can allow you to take the audio files put them up there it can be very expensive and there could be very little ROI because guess what when you share it it's likely gonna be people who have already found you who are already listening to your podcast you see that I prefer to spend more time marketing and getting yourself out there and other people's shows and focusing your efforts on that to grow your show faster and then have your podcast do the work for you alright I'm gonna answer one more question cool I love gold subscribe and comment cool does any advices if I switch to another host the show is still available I just have to move episodes there right yeah in fact if you are somewhere else in fact a bus press really cool because you can one-click essentially change things over and then essentially you just have to tell Apple where the new our RSS feed is and when it wants to you know when it's ready to do that essentially just switches over so essentially you have your podcasts on host number one and then you're gonna set up on host number two you just get all your episodes on on host number two as if like it's ready and then you just tell Apple Spotify Google like hey we're switching over to this house and boom everything switches over and then the old thing just doesn't even get seen anymore it's not red anymore it's the brand-new RSS feed and that's how you go anyway we're gonna talk more about podcasting later this afternoon paplu comm slash podcasting if you want to go deeper I'll also be sharing more about my course power of podcasting there as well and we're gonna have some fun so hey everybody thank you so much for today today was a really amazing a great introduction to podcasting I'll also link for the replay viewers in the description eventually later on when I get to it today some more tutorials and stuff here that are for free here on the YouTube as well I have one of the number one podcasting tutorial video series on YouTube that will take you a little bit more into detail however I'd love to help you get more listeners and market show - so if you want to check that out Pathan comm / podcasting and I love you help you out there team flame you're amazing thank you so much no giveaways today just a lot of great information this is me helping you out and hopefully you can help me out by giving me a thumbs up subscribe to the channel if you haven't already and coming back tomorrow 8 a.m. Pacific 11:00 a.m. Eastern tomorrow we're gonna talk all about blogging blogging has changed significantly since the 1990s however it's still very valuable we're gonna talk about the ins and outs the do's and don'ts of blogging and we're gonna have some fun so 11:00 a.m. Pacific or excuse me 8 a.m. Pacific 11:00 a.m. Eastern tomorrow that's at Pat fluent calm / the income stream hope hopefully I'll see you there thanks so much peace out and as always team Flint for the win you're the best to help you achieve your dream all our we keep it clean this income streams it's the kind of show governmental but they believe in spies with new people quietly income stream with that plan rich up everybody today thank you so much for your time and attention and put yourself out there like I said took me a year and a half to get start with a podcast like oh you wish I get it sooner and I hope they can get up and running because you have people out there who want to listen to you we're gonna love y'all take care you

Channel: Pat Flynn

Views: 191,471

Keywords: the income stream, pat flynn, smart passive income, how to make money online, pat flynn live show, pat flynn's morning stream, pat flynn's live stream, live show with pat flynn, pat flynns morning stream, pat flynns live stream, how to start a podcast, how to start a podcast in 2020, start a podcast, beginners guide to starting a podcast, starting a podcast, podcasting 101, beginner podcasting, all about podcasting, podcasting made simple, podcasting made easy

Id: 969weYOWZ4E

Length: 60min 15sec (3615 seconds)

Published: Wed May 27 2020