At Podcast Movement Evolution in LA people kept pitching me, and in a matter of seconds, I was able to tell if this person understood the podcasting market or not. Most did not.
TWO TYPES OF PODCAST BUSINESSES
My friend Paul Colligan from the Podcast Partnership said, "There are two types of podcast companies. One that cares about podcasting, and the other that just wants some of that sweet, sweet podcast money."
YOU NEED TO SOLVE A PROBLEM
If you want to make money with a podcast, you need to solve a problem. So that can be a product or service, but it can also be that you solve the problem of providing information that is not available anywhere else.
THE TING ABOUT THREE YEARS
I do need to clarify that I've said it takes three years to build an audience, and that is when people I interviewed for my book Profit From Your Podcast started making notable income.However, it's not the three years that enable them to make money. It is the quality of the content. Don't keep making episodes thinking, "If I can just make it 36 months I can retire." There is some luck and timing involved.
NETFLIX CANCELS SHOWS
Why do I think that? Netflix cancels shows. They know everything about us. They know our likes and dislikes, and yet they make shows that we don't watch and get canceled. Why? Maybe it was bad timing or good old luck of the right person finding it and telling two friends...
So if you want to make money, you need to solve a problem. Think about everything you buy. Be it clothes, food, netflix, etc it all solves a problem.