Everyone has dreams of living the fabulous life. Producing and prospering by doing what you love, but how? This podcast and post will give you case study and detailed instruction on turning your hobby into a money making biz!
Episode 003 by Cole Johnson
Written by Michelle Price-Johnson- michellepricejohnson.com
This quick resource will help you diagnose your passion, give you a spreadsheet to how much money you need to make to pay your bills, and how much income is needed before you can take the leap into Podcasting for Profit!
Becoming a fulltime Solopreneur has changed my life completely! I have been in broadcasting for radio and TV most of my life, and work as a consultant to some amazing organizations. Now, I take the amazing information that helps multi-billion dollar companies, and help individuals who want to launch their dreams of earning money doing what they love. I earn a great living, and have helped my husband start his awesome podcast COLE SPORTZ that is earning him an amazing salary as well.
Honestly, I love what I do!
I know many other people who have successfully turned in their 9-5 commutes for work anywhere pursuits (yes that rhymed).
Starting your own podcast can lead to many positives including the freedom to become a full-time podcaster/ online solopreneur.
Trust me, it is possible!
In 2006 I left a 6 figure job with one of the nation’s top broadcasting companies to start my own company. I was in Washington,DC, single and looking at houses with price tags that I couldn’t believe. I knew I wanted to invest in homeownership, but I didn’t want to invest $400K for a townhome in a city that I didn’t know if I wanted to call home. I knew that I loved Nashville, and could by a house twice as big, for half the cost, while enjoying a great life and awesome music industry. So, I hatched an escape plan, executed the details, and made my great escape to working for myself. It didn’t happen overnight (my goal was 1 year, but it only took 9 months), but it did happen. Just before I quit my job, I actually had night sweats because I was so afraid, but I did it anyway. The rest is history! Here is me in NYC where I recently won a Leadership Award from the Wall Street Journal.
I did it, and you can too. I’m sharing the formula that I used, and I know that it can help you too!
Note: Get the FREE TRAINING 6 Things That You Should Be Doing Right Now, to Generate More Audience Growth, Engagement And Revenue.
In order to start your own business, you will invest tons of time, heart, money and other resources in it. Before you start, you should really be clear about THE WHY. Are you doing this because you hate your job, or because you have always wanted to help people with your product/service?
You should launch into a business, just as an escape from an old one. Without the passion, purpose and ability to get your podcast done, your dreams could be over before they start. Think about THE WHY, and write it down. Make sure that your WHY will withstand long hours, working an extra job in order to get your savings built up, time away from friends and family, and be powerful enough to overcome doubt .
Answer this question: The reason that I want to start my own podcast is because …..
Pre Quit Day
This is where you list the ways that you will accomplish your quit day. A few things to consider are:
- How much money do you need monthly? Have at least 6 months worth saved for household expenses.
- How much are your startup costs? Have that as cash on hand. (do not include your household savings)
- When do you want to leave your job
- How much money do you want to save in an emergency fund
- How much money does your business need to make in order to meet your needs/savings?
- Why do you want to podcast?
- Do you have the personality to connect with other people?
- How do you plan to monetize your podcast to make the $$$
- And much, much more.
These questions can seem tough, but they really help you understand if podcasting is right for you, and if this is the time for you to Step out into being a Solopreneur. Even if the questions scare you, don’t let the answers stop you. Take the time to dig deep. Don’t forget, it’s not all or nothing! You can start and grow your podcast part-time while you still keep your job. Podcast for Profit Academy is a great resource to answer those questions and help you get your audience and revenue maximized.
Now that you have your pre-quit day goals, this is where you become 007. The task, if you except it, is to create a plan that will help you accomplish your HOW. Once you quit, HOW will you make your podcast a success?
Can you answer these questions right now?
- What is the Title and Mission of your Podcast?
- Who is Your Core Audience?
- How do you reach them?
- What kind of income do they have available for your products, services?
- What kinds of products should you create? What should they cost?
- How much money should you spend each month on your podcast? For how long? When do you expect to break even?
- What will be your main income generating sources?
- How many sales do you need to make to make your income goal?
BEFORE you leave your job, or spend zillions of dollars on this venture, make sure you can answer these questions.
Podcast For Profit Academy will help you and answer all of those questions, plus the ones that you don’t even know to ask.
Ready to make your big move? Earlier I told you about how I planned for 9 months before I had my quit day. I was single, scared, having night sweats, and hoping that I didn’t kill my future. I did the right things, and not only did I survive, I THRIVED! You can too. Get as much information as possible, connect with other people who can help, and learn as much as possible. I believe in you!
Note: Now that you have a plan, sign up for the Podcast for Profit Academy FREE TRAINING – Getting your Podcast Money Ready by clicking here, or filling out the form below.
GETTING YOUR PODCAST MONEY READY [FREE TRAINING]
Top Actions of the Most Successful Podcasters and Billion Dollar Media Companies: 6 Things That You Should Start Doing Right Now, to Generate More Audience Growth, Engagement And Revenue.
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