The Million Dollar Podcast: Everything You Need to Know About Building a Podcast and Getting Rich from it

So, you want to build a podcast and from what it looks like you want to make a million dollars while you're at it. Well, I will show you how this is done. Now what I am telling you here isn't just in theory, this is what I have already done and continue to do every single day. When I started my first radio talk show on Money 105.5 FM in Sacramento, California, I already had maybe fifteen years of experience recording and producing music, so I had a thorough understanding of the equipment and software needed to build a quality talk show. I also had maybe ten years of sales experience, another tool vital for the success of my radio talk show business.

Here I am saying radio instead of podcast. Why is this? Is this because I'm an old-timer having been around the block a few times? That definitely has something to do with it, but the reality is, both are the essentially same thing. If you asked me when I got into this business if I was building podcasts, I would have been offended and pissed off because "radio" people consider podcasts as toys and built by amateurs. Radio was traditionally for big leaguers who are professionals. The reality however is that podcasts are NOW the new norm and radio is becoming obsolete.

According to experts, 70% of Americans now favour podcasts over conventional radio. Why is this? Well, the answer is simple. For radio, you have to tune-in at the specific time that the show comes on or you'll miss the show. If your reception is spotty, then you'll miss the show. If your phone rings and you have to turn down the radio, you'll miss the show. And, it's very expensive to build and air radio talk shows, sometimes costing thousands of dollars per week. And something that you may or may not have thought about is that you have to meet station and FCC guidelines. Some stations will allow some things that other stations may not. For instance, the stations I'm on don't allow cannabis or alcohol related products. That takes away from a lot of revenue I could be making.

So, why are podcast the new norm? It's simple. You can access the shows anytime, anywhere, any way you want to. They are available how you want them, when you want them, where you want them and you can start, stop, rewind, and listen again whenever and however you want. How is that not awesome? OK. Let's talk about how to make this happen.