The podcast industry is exploding. Here’s how that can help you grow your business.
Podcasts are one of the most powerful tools for growing your business. Whether you listen to them out on your daily walk or run a podcast that generates advertising revenue for you, they’re a great way to stay connected to the small business community and add to your professional knowledge.
State of the podcast industry
There’s some debate about who started the first podcast, but they first took hold in the early 2000s. They’ve grown like wildfire ever since. Today, podcast listeners in the U.S. are expected to exceed 150 million by 2024, according to Statista.
So which podcasts should you listen to? Many small business owners gravitate to either inspiring business podcasts or industry-specific ones. You can type keywords into the search engine Listen Notes to find the latest podcasts on subjects that interest you. For instance, if you’re looking to learn about social media, you might type that phrase into the search.
Podcasts to check out
If you’re looking for ideas on which podcasts to listen to, here are some recommendations for small business owners:
The Tim Ferriss Show
There’s a reason this perennially popular podcast is often #1 on Apple Podcasts. Tim Ferriss, author of “The 4-Hour Workweek,” has attracted a long list of high-profile business leaders – Mark Andreessen, Ray Dalio and Peter Thiel to name a few – with his long-form deep dives into the methods world-class performers use to achieve their goals.
Conversations with Joan
If you need a jolt of inspiration, tune into veteran broadcast journalist Joan Hermann’s interviews with business leaders and wellness experts, among others. An entrepreneur herself, she offers inspiring content about how to cultivate a positive attitude that helps you achieve big results. Recent guests include Jen Sincero, Gretchen Rubin, Jean Chatzky and Bernie Siegel.
So Money with Farnoosh Toorabi
If your relationship with money needs a tune-up, entrepreneur Farnoosh Toorabi will help you move forward. Recent guests include “Money Hackers” author Daniel Simon, NextAdvisor editor Adam Auriemma and “I Will Teach You To Be Rich” author Ramit Sethi.
If you’re looking to escape the 9 to 5, host Paula Pant is an ideal guide. She does a deep dive into topics like the financial benefits of optimism, overcoming what you learned in childhood about money and breaking the bad habits that are holding you back.
The Creative Penn
If you’re looking to make a living from your creative passion, author Joanna Penn offers practical tips and inspiration for monetizing your talents in this popular podcast.
How to start your own podcast as a business owner
Starting a podcast as a business owner can help you raise your profile and bring you into contact with guests who can become important members of your professional network. However, it requires an investment of time and money for equipment, so it’s important to do your homework ahead of time to see if it’s right for you.
There are many programs to teach you how to run a podcast. One good place to start is with Udemy’s free, highly rated course How to Start a Podcast. Buzzsprout also offers a free course by the same name.
Once you’ve taken one or two courses, you’ll have a good sense of whether you’re interested enough in doing the legwork to start a podcast. Although you can outsource some aspects of a podcast, like production, you will still need to devote time to planning and hosting it, so it’s important to consider that. Some business owners are better off doing self-marketing through social media.
If you decide to invest in paid promotion for your podcast, some business credit cards reward you for ad spending. One example is the American Express® Business Gold Card, which offers up to $300 in statement credits on eligible U.S. advertising and U.S. shipping purchases. And several business cards offer rewards on everyday spending, which could help you earn cash back or points when you buy audio equipment.
Podcasts can be a valuable tool for anyone who wants to learn about entrepreneurship or raise the profile of their business. However, before you start a podcast, it’s important to understand the time it will require, so you can get the most out of your efforts.