Let's talk - podcast update!

0:00We are interrupting your regular scheduled programming with some breaking news. Damon take it away

0:09Thanks for that Damon take it away This guy's had a pay rise Tixie Run's a show now So yeah The breaking news Which is exciting for me anyway Is that I have bought the podcast And you got a pay rise That's more important realistically And you know how I got the pay rise Because I listened to that episode On how to get a pay rise Yeah a lot of tips And I got a pay rise No, I'll tell you how you got a pay rise. I took a pay cut. I now don't get paid to be here and you got the money instead. Appreciate you. You're a good friend. Yeah, and Will remortgages his house. So yeah, speaking of Will. Big Will.

0:43Yeah, Will is who I brought the podcast with and I think we should probably get him in here to have a chat really. Get Will over here. Get a dictionary out because he's a lot shorter than me. But Will, it is your time to shine. Goodbye diversity on the podcast. Welcome, Big Will. I'm not sure why a dictionary will help him get taller, but fair enough. Hello, mate. Hello, mate. hello this feels good this does feel good feels better than that that guy anyway for the record i am shorter than t but taller than damo this malicious rumor keeps persisting doesn't it keeps persisting that that photo was edited where this all comes from no photoshop no where this where this all comes from is our profile picture which is on the purple background i'm significantly smaller than to main and it makes no sense because i'm not you've got some subsidence or whatever it's called in this house and there's clearly a floorboard that sits like a good foot lower than the rest i mean you can see that is literally a photo you can see how tall are you shout out it's a lie well i'm six three um so it's quite amusing all the guests we get on here about five foot three yeah deborah was like inch high yeah but anyway will what the hell have we done i honestly don't know but basically we've we've decided to to buy the podcast yeah there was so the context for this is that about a couple of years ago myself and our producer ruth who's in the background um we were working for a podcast company called kindling media and we wanted to make a show about personal finance i slid into damo's dms he liked what he saw and this is this is where we ended up but a few months ago there was an opportunity to buy the podcast so we decided rashly to to back ourselves so you know why why did we buy it yeah i think there's i think there's a couple of different reasons i think you know when you're building something you want to own the thing because then you can control what you're building we don't know what would have happened with the podcast whether we could have kept making it or if we could have done it in the ways that we wanted to so we wanted that control and then the other thing is you know this is a personal finance show uh we wanted to be shareholders in the business that we were building so that we could hopefully get value for ourselves yeah so from my perspective a podcast is an expensive thing to put together there's a lot of people in this room there's four people behind the camera that you can't see now one is to main obviously um when you approach me i wanted a podcast but i didn't want to be one of these kind of zoom podcasts because I just thought the I want in the room conversations but I knew that that would be expensive and I wouldn't be able to do that myself so that's why we did it and that meant that I had a percentage share of the podcast and I was paid per episode I was like a host long term though like you say for me it makes more sense to own the thing that is me because it gives me more control it gives me the ability to decide how we monetize it in line with my values, which, you know, is the same as the main channel.

3:46And secondly, this is probably the most fun I have in terms of like my day to day things that I do, my job, if you will. So I wanted to keep that going. And there was a question mark about how the podcast would keep going if we didn't buy it and in what format and who would be controlling that and what, you know, what direction that would go in. I wanted everyone in this room to be still in this room and not to have someone else come in and dictate who was in the room. Yeah, exactly. And I think we've got as well like a bigger vision for what we want to do within personal finance, helping people in the UK make these big decisions.

4:22The new company, by the way, is called Most, getmost.co.uk. It was going to be called Cabbage at one point. This guy wanted to call it Cabbage. I'm still pro-Cabbage. No, he was like, it's this generation's apple. I was like, cabbage is not this generation's apple. Yeah, you were saying we'd have keynotes where I'd come on stage and be throwing cabbage leaves out. Exactly, we'd be like, you know, cabbage, just flinging shards, leaves of cabbage. No, no, can you imagine? I think we found out that was a Pete Diddy song though, so we would have got cancer quite a chance. I didn't even know that. I just, cabbage is a terrible name.

4:58It's a terrible name. It was one of those where we thought it was a great idea until we shared it publicly. Yeah, no. Yeah, I thought it was a terrible idea from the moment you told it me. But yeah, anyway, we decided on most. And just explain what most is, because obviously it's a little bit confusing. There's Making Money, the podcast, which will be as is, more episodes. We're looking to put out continuous episodes rather than taking breaks in between seasons, free content across all major platforms. But what's most in that relationship? So Making Money will be the podcast that most is buying from Kindling Media, our previous company.

5:37And at most, we'll do various things to basically help UK people make better financial decisions, financial education, coaching, etc. And the podcast is a key part of that. You know, we always want to be offering free content that really helps people out. There'll be other things that we offer on top through most. So you're going to see some tests over the coming months. If you've got ideas, we want to hear them. But we're going to test you being able to book in to speak with a financial advisor, but in a coaching capacity. We're going into businesses to provide financial education, but paid for by the company, not, you know, like the end consumer.

6:15And there are various other things that we want to try out because free content is really helpful, but it also only goes so far. We can see people's questions coming in that we can't really answer because this podcast is very one-to-many. So we want to try to figure out other ways that we can help people on top of the podcast and it will all be housed within most. Yeah, and the thing about personal finance content is the people who seek it out have almost got to be seeking it out. I mean, sorry, the people who watch it have got to be seeking it out. They're kind of people who are looking for finance content.

6:47The B2B angle gets us in front of people that may never seek out that information, but really benefit. So that's quite good for me in the sense of the company pays for it, but the end user who benefits gets that information for free, essentially. And schools as well. We want to see if we, there's lots of ideas that we've got, but, you know, if we can get into some schools, I mean, that's probably a much longer term thing. But I think there's all sorts of ways that we can help people because I was amazed by what a mug I was with money until we started doing this podcast. Maybe I did it just for me, but then I have remortgaged the house to buy the podcast.

7:22Still a mug. Could be the worst personal finance decision I ever met. It's like full circle of we film it in your house. You've now remortgaged the house to pay for the podcast. You need a blue plaque one day, doesn't it? Or something because you put up this house is literally it's like the third host, isn't it? Exactly. You know, it is everything to the podcast because this is your house for context. Yeah. So so this is this is my home, which my wife is beautifully designed. This isn't my wife, sadly. Yeah. But yeah, it's quite with interest rates surging. I thought that the wider thing to do would be to borrow.

7:59Borrow a load of money to buy a podcast that films in your house and then give all that money to Tomein and a pay rise. I'm paying interest on T's fees. Yeah, and also you're not getting paid anymore because you were an employee. Me neither of us are getting paid. No, no. You're being paid. No, no. A terrible fine. We are making no money. Yeah, yeah. T's getting the most. Yeah, he is. He is. Some of my friends said with Moish, we call it almost. Almost. yeah that's funny yeah how do almost how do people get in touch especially for the b2b stuff yeah so just email me will at getmost.co.uk it doesn't matter what position you are in the company it'd be great to chat see if we can help you and your colleagues um get better with money yeah well i'm really excited mate it feels good which is how i make these decisions and i think I invest inside of an eye, so I do my sip, but I also think it's really important to invest in yourself.

8:55And I say that to people, and hopefully this embodies that, of this is me backing our ability to generate value. Yeah, I think so. I remember you saying that. That has been your biggest learning from doing this podcast, is you need to back yourself. So it's terrifying. I mean, I've got to say, I keep waking up early, early wondering where the cash is going to come from and everything like this. But also, I think you've got to have belief. And one of the things that you've learned from doing this as well is that if you are, you know, like a shareholder in a business, that is one way that you can make a lot of money.

9:28You can also lose a lot. Yeah. But you'll see. We hope we look back on this video in a few years time and it seems like a no brainer. Yeah. Yeah. And I think we will. It is scary, but I think all the things that lead to growth are a little bit kind of scary and on the edge of your comfort zone, aren't they? So, you know, at least I won't lose my house if it all goes wrong. my proverbial nuts are on the line should we get tea back because it's getting a bit awkward yeah