The podcast industry is at its peak. Everyone you know is listening to podcasts, a lot of people and brands are starting their own podcasts, and it makes you wonder… Should you start a podcast? Are you too late to join the bandwagon now and is it even worth it?
Reasons You Should Start a Podcast
- Convenient and accessible to consume
Podcasts are extremely accessible and readily available. That’s part of why it’s so popular. Anyone with internet access and a phone or computer can listen to a podcast. It’s also convenient as people can consume your content while driving, commuting, doing chores and other mundane activities. They keep the mind productive in digesting information even as they’re physically occupied.
- Grow your audience and reach
If you publish your podcast on popular streaming platforms like Spotify and iTunes, you’re making it freely available to thousands of people. This means thousands of potential listeners who might like what they hear and become loyal audience. Those who regularly listen to your podcast do so because they enjoy your style and content, and will most likely recommend it to friends. This will help you grow your audience.
- Allows you to connect with experts in your industry
If like most business podcasts you’re planning to invite and interview guests, you’re in for an excellent networking opportunity. Not only are you helping these experts share their story to an audience, you’re actually building your own professional relationship with them.
- Establish trust and authority
Podcast is a great way to be intimate with your audience, especially if you embrace the conversational tone and address them familiarly. Using your real voice also makes it more personal and helps you knit a closer relationship with them.
Moreover, sharing helpful and valuable content will help you gain authority in your industry. As you consistently give your audience good advice, your reputation will develop as a reliable source of authority.
Reasons You Should Not Start a Podcast
- It’s not that easy
Do you think all it takes to start and run a successful podcast is to record your conversation with someone and post it on the internet? If you do, you’re about to be disappointed. There are so many variables to a good podcast, most of which are not as simple as you might guess.
It takes time to plan your content and topics, record, edit, the knowledge to edit and good hosting practices. Like other media production, making podcasts have its own challenges that you must overcome.
- You probably can’t make a living off it
Since podcasts began to skyrocket a few years ago, many people have started their own show. Only a select few, however, actually make a living out of it. The starting cost will be more than your podcast make for months, even years. You might start making some money after a long time of consistent content, but
If you want to make a podcast just to make money, you’re more likely to be disappointed.
- It can be expensive
The cost for creating a podcast can add up quickly. That is, if you want to produce professional content. You need all the gears and the proper software to record your episodes, including microphones, audio recording and editing software. You might even want to rent a recording studio. Add to that the cost of website and podcast hosting, as well as various marketing tools.
- It takes time to grow
Yes, it’s possible to grow a loyal following, make good money and be successful through podcast. No, it won’t happen overnight. Like any other business, your podcast will take time to grow. For a lucky few, it takes only a few months. But for most, they don’t see tangible results until after years of producing high-quality and consistent content.
These reasons are not meant to discourage you and stop you from starting a podcast. It’s just to make sure that you’ve considered all aspects, positive and negative, before making a commitment.
For more inspiration or just recommendations, here are some podcasts that every entrepreneur should listen to:
Top 5 Best Podcasts for Entrepreneurs
- GaryVee Audio Experience
Gary Vee is one of those rising figures in the entrepreneurship world, especially among millennials and social media users. An entrepreneur, investor, vlogger and public speaker, he’s the guy to listen to if you are interested in personal branding, side hustle, grinding or just looking for some excellent motivation.
- This Week in Startups
This podcast is hosted by angel investor Jason Calacanis, who invites a different expert guest each week and share the most up-to-date insights about tech companies and investing. This is great if you want to start a company or just looking for improvement and growth strategies.
- How I Built This
Guy Raz takes us on a deep-dive, narrative journey behind some of the world’s most successful and famous companies. This podcast is inspiring as well as insightful to the ups and downs that an entrepreneur will most likely go through.
- A Conversation with Yasa Singgih (Indonesian)
Moving on to Indonesian podcasts, Yasa Singgih is a young entrepreneur who shares various business-related and personal development content on his show. He feature mostly young guests to speak on topics like meditation, building a business, financial freedom and is an advocate of the ‘giving value to others’ belief.
- Increase Sales by Presenting Choices
- Meet New People
- Understand That Failure Is Part of Success
- Eat, sleep and spend in moderation.
- Fully Determined
- The Real Boss (Indonesian)
Last but not least, we have Michael Ginarto’s podcast, a multi-millionaire and serial entrepreneur. His guests include founders of venture capitals, Sour Sally and other top Indonesian figures to uncover the best-kept secrets of making it in business.
So, do you think starting a podcast is right for you?
Of course, podcast is not the only way to grow your business or personal brand. In fact, if your goal is to grow your business, there might other more effective ways to do so. This website and Michael’s podcast have some helpful advice for that. You can even contact Michael Ginarto for a personalized consulting session!