How to Start a Podcast and Make Money – Simple Steps to Follow
If you’ve been stumbling up and down the hills of pages on Google looking for a less competitive and smart way to generate passive income online, you most definitely have come across podcasting. Based on a study in May 2020, the number of podcasters alive is estimated to be roughly 900, 000. That is a whole lesser competition compared to combating over 300 million blogs as a blogger. So to speak, it’s reasonable to dive in now to learn how to start a podcast and make money. Right?
Before taking you through the step-by-step process of starting your own podcast Show right away, here are some facts you need to know about podcasting.
Ten 2020 Podcast Statistics And Facts You Should Know
- You can start a podcast with as low as $100
- The average podcaster earns a minimum of $7, 273 per month
- There are more than 10 ways to monetize your podcast
- Over 90 millions of Americans listen to podcasts every month
- Podcasting is fun but time-consuming and passion-ignited
- There are 16 million “avid podcast listeners” in the USA
- A podcast listener subscribes weekly to an average of 6 shows
- Podcast listeners are affluent, loyal, and educated
- Comedy, education, and news are the most popular podcasting genre
- 49% of listenings are done at home, the rest is done in transit, office, and other places
Interesting, isn’t it? Here’s what podcasting is really about and how it works.
What Is A Podcast And How Does It Work?
A podcast is a system that combines the technology of blogging and audio recording to give the general public a wild card entry into radio broadcasting. With a podcast, you’re running a radio station that is free from government regulations such as the Federal Commission of Communication’s broadcasting decency regulations. The idea was developed from the ground up by Dave Winer and Adam Curry in 2004 by writing a program that enables the automatic download of internet radio broadcasts on iPods.
But how does the podcast works? With the combination of MP3 technology and the power of blogging, a podcast function by creating a bank of audio contents that may be in series or episodes and it allows web users to pull out and download those contents on their iPods, Android phones, iPhones, and computers. These audio contents are either loaded up unto an RSS feed on the podcast blog to be made available to subscribers or audio players like Apple Podcasts or Pocket Casts can be used.
So how do you start your own podcast and start making money off of it consistently?
How To Start A Podcast Right Now; A Complete Step By Step Guide
Here is an overview of the entire process below.
Stage 1; Planning
- Choose a genre and a focus-topic
- Choose a name and a show format
Stage 2; Preparation
- Design a cover art
- Create an intro and an outro music
- Cash in on a mike and decide your guests
Stage 3; Recording And Editing
- Choose a software (free or paid)
- Set up the needed podcast instruments
Stage 4; Launch
- Choose a podcast host
- Upload your first series
- Submit to iTunes
- Market and promote yourself
- Design a website/Develop an App
- Make transcriptions
- Create show notes and embed your episodes
That may look like a lot but it’s far way easier than you think. Let’s get started. First thing first…
STAGE 1: Planning
This is the bedrock and the foundation of your podcast upon which every other brick is laid. The first step is choosing a genre and a topic-focus.
How To Choose A Podcast Genre And Topic
- Pick a niche that sparks your passion
- Make sure it’s a less competitive genre
- Ensure that the niche suits your lifestyle
- Find out the number of people who listen to that genre
- Focus on a topic that is intriguing, entertaining, educating, and inspiring
Here are some types of podcast genres you can choose from.
How To Choose The Right Name
- Choose a name that represents your niche (eg; Sportshub for a sports podcast)
- A short, sweet name that is easy to memorize and remember (eg; EduPod is better than TheEducationalistsPodStation)
- The name should be unique and trademarked
How To Choose The Right Podcast Format
Want to choose the best format for podcasts? Whether you’re going for an educational podcast format or a conversational podcast format, here are the formats you can choose from.
- Co-Host; recording with a friend, a sort of partnership
- Solo; doing it all alone
- Interview shows; taking guests on-board now and then
- Mix And Match; switching up the 3 aforementioned formats
STAGE 2: Preparation
The first step here is designing your cover art. Though you may generate a free cover art online or hire a designer, here’s how to do it yourself.
How To Create A Stunning Podcast Cover Art
- Get ideas from the hundreds of cover art templates online
- Sketch your design idea on a notepad
- Choose the best cover art design software/application
- Decide on a podcast graphics package
- Get your cover art dimension right
- Communicate your podcast message through your cover art
- Use high-quality images
- Showcase the logo of your brand
- Use words carefully in the right font and size
How To Create a Podcast Intro And Outro That Attracts Listeners
Other than using a podcast intro generator or outsourcing your podcast intro music, here’s how to go about doing the work yourself.
- Create and edit a podcast outro music and a podcast intro music with Garageband
- Drop your show name, episode title, and episode number
- Introduce yourself and your guests
- Drop your tagline, network ID (if you’re a part of a network), and name of sponsors
- Include a disclaimer
What Equipment Do I Need To Do Podcasting?
If you have an iPhone and want to start podcasting with a $100 budget, you don’t need the list below. Just download the best podcasting app for iPhone and Android. My recommendations are; OverCast, Castro, Apple Podcast, Breaker, Castbox, and Spotify. Otherwise, here is the list of the needed podcast equipment packages.
- The Best Microphone For Podcasting
- A Suspension Boom For Yor Mike
- Amplifiers or PA systems
- Podcasting Headphones
- A Mixer or an audio interface
- A Pop Filter
- A Computer or A Laptop
- A Skype or Zoom Account For Interviews
- ID3 Editor To Tag Your Podcasts
- A Podcast Hosting Account On Either; Libsyn, SoundCloud, Blubrry.
How To Find The Best Podcast Guest
You don’t necessarily need to spend a ton on a podcast guest service as most podcasters do. So how do podcasts get guests? By interviewing people that are looking for exposure and promotion. Here’s how you can use the latter.
- Build your first guest list from friends and people you know
- Get connections by attending industry events
- Linkup with upcoming authors of new books and music on Amazon
- Meet young artists on iTunes
- Connect with bloggers in your industry
- Show them the benefits and takeaways
STAGE 3: Recording And Editing
This precedes the final stage. And it is broken down in two parts below.
Choose The Best Recording and Editing Software for Podcasting
- Make sure that the software is compatible with Windows and Mac
- Examples of podcasting software include; Garageband, Hindenburg Journalist, and Logic Pro
Set Up Your Studio Equipment
Whether you have a home studio or you’re squeezing into a tiny space in your bedroom, here’s what to do.
- Install your software unto your computer
- Set up your amplifier and mics with your audio interface or mixer
- Connect your headphone with your computer
- You’re set
STAGE 4: Launch
The first of the last steps is…
Choose The Best Podcast Hosting Platform
Some of my recommendations are;
- Smart Podcast Player
Upload Your First Series; this is quite straightforward, right?
Create An iTunes Account And Submit Your First Series
At The Bottomline, Market Your Brand.
10 Ways To Monetize Your Podcast
- Advertise and sell your own products
- Sell a service
- Cash in on affiliate income
- Sell yourself as a podcaster
- Create and sell eBooks
- Donations, crowdfunding, and Patreon
- Sell merchandise and start creating an email list using ConvertKit for free
- Create courses
- One-on-one coaching
- Create premium contents and sponsorships
Top 10 Podcasts (Genre)
- Code Switch (News)
- 1619 (News)
- The Daily (Daily News)
- The Joe Rogan Experience (Comedy)
- Crime Junkie (True Crime)
- The Ben Shapiro Show (News)
- It Was Simple: The Betty Broderick Murders (True Crime)
- Up First (Daily News)
- Call Her Daddy (Comedy)
- Pod Save the People (Politics)
Right now you are all set and ready to start a podcast and make money. You may use the comment box for more guidance.