How I Make $1.2 Million A Year From This Podcast | E94
TLDRIn this podcast, the host Stephen Bartlett shares an in-depth look at the creation and success of his podcast, 'The Diary of a CEO'. He discusses the challenges and triumphs of building a podcast, offering practical advice on consistency, quality, and monetization. Bartlett emphasizes the importance of authenticity in sponsorships and the profound impact of podcasting on both the audience and the host. He also reflects on the unexpected personal and professional benefits of podcasting, including deepening self-awareness and forming meaningful connections with guests.
Takeaways
- 🎙️ Starting a podcast requires passion and consistency, as it may not be financially rewarding initially.
- 💡 The host's first podcast was a simple experiment with no script, no plan, and no team.
- 📈 Consistency in podcast publishing led to significant audience growth and compounding effects.
- 👥 Inviting diverse guests expanded the podcast's reach and provided new learning opportunities for both the host and the audience.
- 🎯 Maintaining high quality standards sometimes led to deleting episodes that did not meet the host's expectations.
- 💰 Podcasting can be lucrative by directly partnering with brands that align with the host's values and audience interests.
- 🤝 The podcast format fosters deep connections with guests, leading to meaningful friendships and networking opportunities.
- 📚 Keeping a diary and reflecting on experiences can enhance personal growth and self-awareness.
- 💬 Developing communication and presentation skills through podcasting can be beneficial in the modern social media era.
- 🚀 Future plans for the podcast include taking it to another level with better production, higher-profile guests, and live events.
- 🌟 The host's ultimate goal is to continue producing high-quality, impactful content that resonates with the audience.
Q & A
What was the initial setup for the podcast?
-The initial setup involved a 90-pound microphone purchased from Apple, plugged into a laptop, with the host speaking into the microphone under a duvet in the quietest part of the house at 3 am.
How did the podcast grow in terms of audience?
-The podcast audience grew significantly when the host became consistent in publishing episodes every Monday, leading to compounding growth and eventually becoming the most listened to business podcast in Europe.
What was the host's approach to monetizing the podcast?
-The host cut out the middleman and directly approached five companies he genuinely used and loved, pitching them with his ambitious plans for the podcast, leading to sponsorships that covered the production costs and more.
How does the host ensure the quality of the podcast?
-The host maintains a high standard of quality by only publishing episodes that meet his standards. He has deleted episodes that he felt did not provide enough value or were not engaging enough, prioritizing the trust and expectations of his audience.
What is the host's team composition for producing the podcast?
-The team consists of eight people, including a producer, a podcast booker, a PR manager, video producers, a social media manager, a manager for sponsor and brand deals, and a personal assistant.
How much revenue does the podcast generate?
-The podcast is expected to generate over 1.2 million dollars in a year, which is just over 100,000 dollars per month.
What unexpected benefits did the host gain from starting the podcast?
-The host gained self-awareness, improved communication and presentation skills, and formed potentially lifelong friendships with the guests due to the deep and vulnerable conversations they had on the podcast.
Why did the host choose podcasting as a medium?
-The host chose podcasting for its ability to communicate ideas, tell stories, and connect with an audience on a deeper level compared to other forms of content like viral videos, which often lack depth and memorability.
How does the host plan to take the podcast to the next level?
-The host plans to expand the podcast by continuing to improve the production quality, securing even better guests, and touring with 'The Diary of a CEO Live' across the UK, after selling out Manchester's Albert Hall.
What advice does the host have for others interested in starting a podcast?
-The host advises on the importance of consistency, reaching new audiences, maintaining high quality standards, and finding authentic sponsorships or monetization strategies that align with one's values and the podcast's mission.
How does the host describe the impact of podcasting on his life?
-The host describes the impact as transformative, as it has expanded his professional network, improved his self-awareness, and provided him with a platform to connect deeply with a variety of inspiring individuals.
Outlines
🎤 The Journey of a Podcast
The speaker shares the origins and growth of their podcast, highlighting the challenges and successes along the way. Initially started with humble beginnings using a simple microphone and no team, the podcast evolved into a highly successful venture with a dedicated team and significant financial returns. The speaker emphasizes the importance of consistency, quality, and authenticity in building a successful podcast, and shares their strategy for monetizing the platform through direct sponsorship deals with companies they genuinely use and support.
🚀 Consistency and Growth Strategies
This paragraph discusses the critical role of consistency in podcast growth and the broader aspects of professional life. The speaker shares their initial lack of consistency and the negative impact it had on audience growth. They also talk about the strategy of inviting guests to the podcast, which not only helped in expanding the audience but also enriched the content by introducing diverse perspectives and stories. The speaker emphasizes the importance of reaching new audiences and maintaining a predictable schedule for listeners.
💡 Balancing Quality and Consistency
The speaker delves into the balance between maintaining quality content while ensuring consistency in podcast production. They share their commitment to high standards, even to the point of deleting episodes that did not meet their quality expectations. The speaker's dedication to delivering valuable conversations to the audience is highlighted, as well as their willingness to be honest and transparent with both guests and listeners. This approach has fostered a strong sense of trust and loyalty among the podcast's audience.
💰 Monetizing the Podcast
In this section, the speaker outlines the financial aspects of podcasting, sharing their journey from initial costs to significant revenue generation. They discuss the decision to invest in high-quality production equipment and the formation of a dedicated team to produce the podcast. The speaker also reveals their innovative approach to sponsorship, bypassing traditional podcast advertising companies and negotiating directly with brands they personally use and believe in. This strategy has led to lucrative partnerships and a substantial income for the podcast.
🌟 The Power of Authenticity and Personal Growth
The speaker reflects on the personal benefits of podcasting, beyond financial success. They discuss how the medium allows for deep connections with the audience and guests, leading to meaningful conversations and lasting friendships. The process of preparing for episodes has also contributed to the speaker's self-awareness and personal growth. Additionally, the speaker shares how podcasting has honed their communication and presentation skills, which are valuable in the modern social media era.
🎉 Future Plans and the Podcasting Impact
The speaker concludes by sharing their future plans for the podcast, including expanding to live events and continuing to enhance production quality. They express a desire to maintain consistency and improve their skills, while also planning to tour their live event across the UK. The speaker reiterates the profound impact that podcasting has had on their life, from personal growth to expanding their professional and social networks. They end on a note of gratitude and enthusiasm for the journey ahead.
Mindmap
Keywords
💡Podcast
💡Consistency
💡Monetization
💡Authenticity
💡Personal Brand
💡Content Creation
💡Guest Engagement
💡Professional Growth
💡Networking
💡Personal Reflection
Highlights
The podcast started as an experiment with no script, plan, or team, and has grown to become one of the most listened to business podcasts in Europe.
Consistency is key to the podcast's growth, as the audience expanded significantly when episodes were published predictably every Monday.
Incorporating guests into the podcast not only helped grow the audience but also saved time and provided more enjoyment for the host.
The podcast's growth exploded by 10 times when consistency was achieved, demonstrating the power of a reliable content schedule.
The host's high standard for quality has led to the deletion of several podcast episodes that did not meet the desired value for the audience.
The podcast has become a multi-million dollar business, proving that podcasting can be a lucrative venture with the right approach.
Cutting out the middleman and directly approaching brands that the host genuinely uses has been a successful monetization strategy.
Authenticity in sponsorship is crucial, and the host has built strong relationships with sponsors based on trust and genuine use of their products.
Podcasting allows for deep connections with the audience, unlike other forms of content that may have high reach but little impact.
The host's experience with podcasting has led to personal growth, improved self-awareness, and the development of important communication skills.
Podcasts have the unique ability to communicate ideas and tell stories in a way that resonates with listeners on a profound level.
The podcast has expanded the host's professional network and led to the formation of meaningful friendships with guests.
The host's future plans for the podcast include taking it to another level with better guests, improved production, and continued consistency.
The podcast's success serves as an example that anyone can start their own podcast and potentially make enough money to live off, even without a full production studio.
The host emphasizes the importance of consistency, quality, and authenticity in podcasting, as well as the value of connecting with guests and the audience on a deeper level.
The host's approach to podcasting, including the decision to video the podcast and launch a YouTube channel, has contributed to the podcast's rapid growth and success.