MBA2314 Is it Too Late to Start a Podcast? + Free Ride Friday

0:09Heyo! Welcome to the$100RMBA show, your regular business workout with our practical business lessons for the real world. I'm your host, your coach, your teacher, Omar Zinhome. I'm also the co-founder of Webinar Ninja, an independent software company. I started with my co-founder back in 2014. And today is Free Ride Friday. If you want to run a free ride to one of our programs, like our 100R MBA program, helping you become a better entrepreneur, just leave us an Apple Podcast rating and review, and you enter our weekly random draw we call Free Ride Friday. Listen in on Friday like today. We announce that this week's winner a little bit later in the episode.

0:42In today's episode, you will learn, is it too late to start a podcast? I get asked this question a ton. I started my podcast back in 2014 and every year I get asked this question. Well, I'm going to definitively answer it in today's episode. I'll share with you why podcasting in particular is easier to become successful. I'll also share some of the challenges you're going to face today that I didn't have to face back in the day, but also some of the benefits that I didn't have when I launched. So let's get into it. Let's get down to business. This episode of the$100 MBA show is brought to you by This Is Small Business, an original podcast from Amazon.

1:20It's all about what it takes to be a successful small business owner today. I've listened to a whole bunch of episodes from season two that's out now. And what I love about it is that they provide useful, practical information that you can use every day in your business. They deliver short episodes on topics like how to attract investors, how to manufacture your own product, and the pros and cons of a business partnership. Go ahead, subscribe, and listen to This Is Small Business wherever you get your podcasts. Again, it's called This Is Small Business. So is it too late to start a podcast? Here's the short answer.

1:56No. Is it harder to start a podcast today? I would also say no, because there's a lot of things that you have that I didn't have when I started in 2014, like a bigger audience. When I started this podcast, The$100 MBA Show, I couldn't actually say I have a podcast because most people didn't know what a podcast was. In fact, the statistic back in 2014 is that one in four people know what a podcast is. So I only had access to 25 % of the population, while today, so many people at least know what a podcast is and have easy access to a podcast player. Funny story, when I was trying to market the podcast, I actually didn't say it's a podcast.

2:41You just say daily business lessons, and then I would later on give them a link to show them where they can find it and subscribe to the podcast. I realized that by saying podcast, it kind of turned people off because they didn't know what it was. But today, podcasts are ubiquitous. Everybody knows who they are. It's super simple. So you have that going for you. Next, you have so many resources today on how to start, grow, produce a podcast easily. You're going to find hundreds and hundreds and hundreds of videos on YouTube, amazing articles, courses, books. There was nothing out there for us.

3:11I had to figure it out the hard way. I had to ask questions from other podcasters through trial and error. Also, there was not a lot of ways to listen to podcasts. Most podcast listeners back in the day when I started would have to be on an Apple device because iTunes was the main way to listen to podcasts. But if you're on an Apple device, there's a very low chance that you have access to a podcast player or know how to listen to podcasts. Now with Spotify and TuneIn and Amazon and iHeartRadio, there's so many ways for people to access podcasts. So much easier to grow. Now, yes, there are more podcasts out there now.

3:50It's crowded and there's a lot more people publishing podcasts every day. But I'm going to say it's just about even, given all the innovation and resources you have. Now, the other reason why I encourage people to start podcasts is because podcasting is one of those mediums that is still not as overcrowded or highly competitive as other forms of media, whether it's blogging or starting a YouTube channel. The reason why is because it's a little bit more difficult to publish a podcast than it is for you to publish a video on your YouTube channel or to publish a blog post. There's a few steps involved and it's a little less well-known how to do it.

4:30But once you figure it out, it's super simple. And there's tons of software now that allow you to kind of just start a podcast on a weekend, whether it's Simplecast or Transistor or Acast. There's all these different platforms you can use to publish and launch a podcast easily. But most people don't want to go through the work of figuring it out, recording, editing, and then publishing. It's not as sexy as YouTube. And therefore, a lot of people don't do it, which is good for you because it's less of a red ocean. It's more of a blue ocean, less competitive and easier for you to stand out if you're good at what you do.

5:01Now, having said that, that leads me to my next point. Because podcasting is becoming so popular and people know about podcasts and listen to podcasts, your standard of quality has to be high, okay? You have to have a bare minimum level of great audio quality. This is especially true if you have an interview podcast because you got to make sure the person you're interviewing is using great equipment as well. They can't be recording while they're in the car or in the airport or sitting on their patio. Sorry, that just doesn't make for a great audio experience. Some of the best podcasters that have interview shows that I know actually insist that all their guests have a quality mic.

5:42They actually send them a link to a mic they have to buy before they start the podcast or start recording the podcast episode. This ensures at least a level of quality. Of course, the space they're in matters a lot. Make sure they're in a quiet space to ensure that the quality of the whole episode is great. You just can't edit out bad audio without distorting it to a point where it doesn't sound so great. The best thing to do is to just capture the audio with a great mic in a quiet space. Quality has to be up. My other tip is to make sure you're adding unique value to your genre, to your category.

6:18Make sure you're adding something that is not being offered right now. That way you can stand out and create a niche for your podcast. For example, this podcast, when I started, there were no business lesson type podcasts. Most podcasts in business was interviews or there were discussions. They weren't short form business lessons. Now, there are tons of similar kinds of podcasts like mine. I'm not upset. I knew that was going to happen. That's flattering. But at the same time, I got a head start because I carved out a niche. So no, it's not too late. The best time was yesterday. The next best time is today.

6:55So get started so you can start getting some trashing and get better at podcasting. This episode of The$100 MBA Show is brought to you by This Is Small Business, an original podcast from Amazon. It's all about what it takes to be a successful small business owner today. I listened to a whole bunch of episodes. One of my favorite topics was the pros and cons of a business partnership. Having a co-founder, working with somebody else. I was attracted to this episode because I have a co-founder, Nicole Baldino. And boy, did they hit it on the nail. If you're thinking about having a partner or maybe you're wondering if the partnership you're in right now is all right and worth it, then you're going to love this episode.

7:35Listen, nobody builds anything great alone. Partnerships can be incredibly powerful, but they have their challenges. Learn more on This Is Small Business. The episodes are short, they're practical, they're useful, and it's a really great production. Season two is out right now, so go ahead and listen to This Is Small Business right now. Again, it's called This Is Small Business. In my opinion, when it comes to podcasting, it's still very early days. It's only been around or been mainstream for about a decade. Compare that to radio or TV or any other technology. There's a lot of opportunity and innovation in the future.

8:12So I would get started if you're thinking about starting a podcast. If you want to learn more about starting a podcast, we have dedicated episodes, lessons on that topic. Just go to 100mba.net slash show and search the word podcast in the search area up top. And you'll see all the episodes that relate to starting a podcast. Thanks so much for listening to The$100 MBA Show. If you love what you hear, make sure you hit subscribe, hit follow on your favorite podcast app. Today's episode is not over, though. It's Free Ride Friday. Let's see who won this week's free ride. And the winner is WZacks4.

8:46That's the handle on Apple Podcasts. WZacks4 says, great actual takeaways, five stars. The$100 MBA Show is a game changer for me. Really like the short format, makes it super easy. Each episode is only like 10 minutes. Well, thank you, WZacks4. Or your mission is to email me over at omar at 100mba.net so I can hook you up with a lifetime membership to the$100 MBA, helping you improve as an entrepreneur 100 % guaranteed. Before I go, I want to leave you with this. I chose podcasting because I love podcasting as a medium. I'm a big listener of podcasts, but I also love producing the podcast. This is why I'm able to do this for eight years.

9:22I love it. I get to teach. I get to share my experiences. I get to improve as a communicator. I get to give back to people that are going through the same journey I did and help them get through that journey a little bit easier. So make sure you love it because you got to commit to it to make it work. Thanks so much for listening and I'll check you in Monday's episode. I'll see you then. Take care.

9:57Thank you.