Podcasting is a lucrative career that can earn you serious bucks. There are several ways you can win as a podcaster that the income many podcasters generate here is enough for to quit their day jobs and become a full-time podcaster.
On the flipside, there are also those that tried podcasting full-time that ended up having to swallow their pride and go back to having a day job because they weren’t making any money.
If you’re seriously considering about becoming a full-time podcaster, here are some things that you need to take some time to ponder on so that you don’t end up getting frustrated and disappointed.
Podcasting, full-time or otherwise, requires a great deal of investment in time, effort, and resources. And just like any business, there will be a lot of challenges you’ll have to go through first before you start reaping the rewards.
That's why it's crucial that you have a clear and substantial understanding of why you want to do this. Your “why” is what’s going to push you and keep you motivated to press on during the tough and challenging times.
Are you looking at launching a podcasting business just so you got a ticket out of a job you hate? If so, I'm going to tell you now that you're not to last. You need to have a profound reason to give you the grit you need to do podcasting full-time.
Another critical thing to consider before quitting your day job to become a full-time podcaster is to know whether you got the means to be able to keep yourself and your podcasting business afloat while you’re building it.
Here are some questions to ask yourself:
If you’ve answered “NO” to even just one of these questions, you need to hold off from quitting your job and diving into doing podcasting full-time.
This was the case with podcaster and entrepreneur Michelle Price-Johnson. In a podcast interview with Cole Johnson, she pointed out that she only decided quit her 6-figure day job after getting enough clients in her business for her to earn more than what she was making in her day job.
Like every business, you need to have a clear and solid game plan for your podcasting business, especially if you’re going to do this full-time.
Start creating your business plan by determining who is the core audience for your podcast. One of the biggest mistakes that podcasters do is that they tend to be very general about it. Michelle Price-Johnson recommends to narrow down your core audience to a specific genre.
I personally suggest to take it one step further to narrow it down to just one person. Marketers call this a persona--a semi-fictional description of who it is you want to target that’s based on data. Don't only limit yourself with the demographics.
Instead, create a story behind your persona complete with all the different problems and challenges they're currently facing. That way, you don't only have a more precise idea who you're trying to reach out to, but also have a better understanding of what kind of product or service you can offer as a solution.
Once you got those in place, you also need to plot out how you’re going to market your podcast and your business. Far too often, many podcasters spend too much time on producing podcasts that they hardly give any time to other equally important aspects of running a business like marketing and management. Creating a plan will make sure that you provide all parts of the business equal attention.
Becoming a full-time podcaster can be a life-changing decision. Just remember that it can go both ways. Done at the right time and the right way, podcasting full-time can become a fruitful career. But if you rush into it, you can end up getting burned. Prepare a solid foundation for your podcasting career even while you're still employed by keeping in mind the guidelines I've just shared. That way, the transition will be smooth once you decide that it's time to make that shift.
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