Let’s talk about creating your plan to make money and profit with your podcast. What would it mean to you to generate some profit from your podcast?

You could be looking to make this a business and career. You might want your podcast to be your side hustle. Maybe you are just looking to make a few dollars to cover the costs of this crazy hobby.

Whatever the goal, you need a plan. You cannot succeed unless you know what the destination of success looks like and then develop a plan to get there.

There are four steps to creating your plan to profit from your show. And then there is some special sauce that can make it incredibly powerful.

THE AUTHOR

I was on a coaching call with a client the other night. He is an author. Doesn’t that sound impressive? We worked together to refine his plan and get him closer to doing this full-time.

When I tell you he is an author, I actually mean he self-published a book. The book is available on Amazon, and anyone can buy it. It looks a lot like every other book on Amazon, especially when you buy it on Kindle.

It has never been easier and cheaper to self-publish. The book gives him big credibility.

However, the book shouldn’t be the way to profit. It is took difficult to sell enough books to make a living.

That is where we started on his plan.

We talk about this show being a way for you to learn how to transform your information into entertainment so we can turn your podcast into powerful, profitable relationships.

People do business with those they know, like and trust. The content I give you each week is designed to move your listeners along that continuum.

We want your listeners to first become aware of you. Then they decide they like you. Finally, they trust you enough to do business with you.

Those three elements are part of the process to developing a business around your show. Attract an audience. Create a relationship with them. Turn that relationship into a trusting friendship and help them solve their problems.

We fold those steps into your plan to generating money with your show. Without a plan, you could end up anywhere. A plan helps you focus on the destination.

4 STEPS

There are four steps in creating your money plan and generating a profit. First, build your audience. Second, create a relationship with that audience.

Next, build a framework to move your audience from casual observer to consumer of your content to client. Finally, offer to sell them something they want and need in order to solve their problems.

AUDIENCE

The first step in the path is your audience. You need to define your ideal target listener.

We talked about the benefit of creating a target listener in various episodes.

When you are hyper-focused on one, single individual, you can define exactly what they want, need and desire. You can articulate their hopes, dreams and fears. You will know exactly what they need and are willing to pay for.

Focus on a single person makes your content much more relevant. You can frame it from their perspective. Your focus allows you to speak their language in their terms.

When you know everything about your target listener, you will know exactly where to find them. That makes your marketing easier and cheaper.

You won’t need to fish in the ocean. You can look for your ideal fish right in the middle of their school. It will be easy to see where they are all congregating.

When the message is laser focused, the conversion rate is much higher. The message is relevant to a greater share of the audience. Your content means more.

Define who do you help, what do you help them do and why.

My “who” is podcasters.

My “what” is transforming information into entertainment. Making their content more engaging.

My “why” is all about growing a business. It is to help podcasters create powerful, profitable relationships. I want to help them make money by creating engagement with their audience.

RELATIONSHIP

That relationship is the second step in your profit path.

Once you gain attention by knowing exactly whom you are targeting, you then need to begin the relationship. Begin helping her.

How will you attract your target audience other than with your podcast? How will they begin to know things about you?

People get to know you by the things you share. Tell them what you believe and value. This will happen through the stories you tell on your podcast, on social media, in your e-mail and various other ways you connect with your audience.

FRAMEWORK

Now that your audience knows a little about you, they want to see what you have to offer. She wants to know how you can help her achieve her goals.

What could you offer your audience for free to help them solve their problems and overcome their struggles?

Create a lead magnet that you can offer your listener in exchange for her name and e-mail address. This will allow you to begin sharing even more information with her.

Your lead magnet should be short and easy to consume. It should also solve one specific problem.

Examples of great lead magnets are worksheets, checklists, top 10 lists, a list of resources and case a study.

Help her solve a problem that she knows she has. This begins to create goodwill and strengthen your relationship.

PRODUCT OR SERVICE

Now that you have created a relationship with your listener, it is time to offer her even more help. This is a chance to go a little deeper with you.

How can you turn what you have to offer into a product or service?

As you try to create this product or service, look for two things.

Find your lead magnets that are getting the most traction. If they are getting downloaded a lot, this is a sign that your listeners want more of that.

You should also see what your audience is asking. If there are frequent questions, that is another sign. If you are asked the same question three or four times, there is a good chance you could turn that into a product or service.

SPECIAL SAUCE

As you have developing these four steps, there is one thing you can do to make it easier to succeed. The special sauce is focus.

When you focus on one thing, it makes it much easier to accomplish that thing. Focus prevent a bunch of projects that are half way complete.

Start one lead magnet. Promote it for a while to see if it gets any traction. Center your content around that topic. Focus.

Once you have determined whether or not that lead magnet has any potential, you can then start a second.

Offer one product or service until you determine if it a viable product.

Focus will help you reach your goals much faster.

Do you need help with your podcast? E-mail me any time at Coach@PodcastTalentCoach.com. Let’s see what we can do.

You can find my podcast and other tools to help you create great content at www.PodcastTalentCoach.com.

Let’s turn your information into engaging entertainment.