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[00:00:00.240 --> 00:00:05.200] Does it ever feel like you're a marketing professional just speaking into the void?
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[00:00:30.240 --> 00:00:35.120] You walk in tired and hungry, one bad dinner away from losing it.
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[00:01:02.640 --> 00:01:09.200] And the reason why your podcast isn't making money is you think your podcast needs to promote every skill and passion that you have.
[00:01:09.200 --> 00:01:13.280] Now you're starting to throw everything, oh, Nikayla, but I do this, and Nikayla, I do that.
[00:01:13.280 --> 00:01:14.960] No, no, no, no, no.
[00:01:14.960 --> 00:01:18.720] Your podcast is not about you.
[00:01:19.360 --> 00:01:28.080] You're listening to Side Hustle Pro, the podcast that teaches you to build and grow your side hustle from passion project to profitable business.
[00:01:28.080 --> 00:01:30.960] And I'm your host, Nikayla Matthews Okome.
[00:01:30.960 --> 00:01:32.960] So let's get started.
[00:01:33.600 --> 00:01:34.240] Hey, friends.
[00:01:34.240 --> 00:01:36.400] Hey, welcome, welcome back to the show.
[00:01:36.400 --> 00:01:44.320] Today's episode is another solo episode with me, your host, Nikayla, and I am going to be talking about something that is near and dear to my heart.
[00:01:44.320 --> 00:01:48.400] And that's the topic of podcast monetization.
[00:01:48.400 --> 00:01:53.680] Specifically, I want to talk about why your podcast is not making money and what you should do about it.
[00:01:53.680 --> 00:01:54.800] So, some background on me.
[00:01:54.800 --> 00:02:00.920] If this is your first time listening or seeing me over here on the YouTube streets, I am Nikayla Matthews-Okome.
[00:01:59.920 --> 00:02:05.640] I am the host of the Side Hustle Pro podcast, which is a top business and entrepreneurship podcast.
[00:02:05.960 --> 00:02:08.120] I started it in 2016.
[00:02:08.120 --> 00:02:16.200] I was able to scale my revenue and quit my full-time job by December 2017 to become a full-time podcaster.
[00:02:16.200 --> 00:02:17.960] And I've been doing that ever since.
[00:02:17.960 --> 00:02:27.960] My main revenue streams are both brand partnerships and sponsorships, as well as selling my own courses and having my own VIP programs and one-on-one coaching.
[00:02:27.960 --> 00:02:30.760] So, there you have it in a nutshell, right?
[00:02:30.760 --> 00:02:33.240] Now, let's talk about why you're not making money.
[00:02:33.240 --> 00:02:39.800] So, first of all, what I really want to focus on today is I'll share what's not happening and then what you can do to fix it.
[00:02:39.800 --> 00:02:47.880] So, I hope that doesn't come off too negative, but I just want you to know that you really have to face directly what you're not doing correctly in order to fix it.
[00:02:47.880 --> 00:02:50.440] So, that's the approach that we're taking today.
[00:02:50.440 --> 00:02:58.600] So, first things first, one of the main things that is preventing you from making money is the setup phase of your podcast.
[00:02:58.600 --> 00:03:02.360] The setup phase for your podcast is so very important.
[00:03:02.360 --> 00:03:10.920] You can't make money down the line if your content isn't good, if the overall premise of your show isn't good, if you don't know who you're talking to.
[00:03:10.920 --> 00:03:13.640] All these things need to be squared away first.
[00:03:13.640 --> 00:03:15.480] So, let's start with the fundamentals.
[00:03:15.480 --> 00:03:25.720] So, number one, the reason why your podcast is not making money is because you think your podcast needs to showcase every topic under the sun you want to talk about.
[00:03:25.720 --> 00:03:28.120] Your podcast is not a catch-all.
[00:03:28.120 --> 00:03:29.560] Repeat after me.
[00:03:29.560 --> 00:03:35.320] I coach so many students inside of my program podcast moguls or in my one-on-one Cle IP coaching.
[00:03:35.320 --> 00:03:41.000] And the thing that takes us the most time to narrow down is what they want to talk about.
[00:03:41.000 --> 00:03:44.800] And it's because we feel like, oh my God, we're multi-passionate.
[00:03:44.600 --> 00:03:45.600] We could talk about this.
[00:03:44.680 --> 00:03:47.040] We could talk about that.
[00:03:47.040 --> 00:03:50.480] How in the world am I going to narrow it down on my podcast?
[00:03:44.840 --> 00:03:52.320] Your podcast is not your everything.
[00:03:52.640 --> 00:03:53.120] Okay.
[00:03:53.120 --> 00:03:54.880] You can be good at several things.
[00:03:54.880 --> 00:03:58.160] You can have different kinds of life experiences.
[00:03:58.160 --> 00:04:00.320] but that's not going to be branded well.
[00:04:00.320 --> 00:04:01.920] That's not going to be marketable.
[00:04:01.920 --> 00:04:02.320] Okay.
[00:04:02.320 --> 00:04:03.520] I'm Nikayla.
[00:04:03.520 --> 00:04:05.040] I am a side hustler.
[00:04:05.040 --> 00:04:06.080] I'm a mom.
[00:04:06.080 --> 00:04:10.960] I'm someone who loves hair and lifestyle, creating content around that.
[00:04:10.960 --> 00:04:18.960] If I try to make a podcast about all those things, entrepreneurship plus motherhood, plus lifestyle and hair content, that's doing too much.
[00:04:18.960 --> 00:04:22.480] I have to have different channels to address all the different things.
[00:04:22.480 --> 00:04:28.640] Now, if I really wanted to do it, I could probably find some unifying thread that would make it doable.
[00:04:28.640 --> 00:04:33.200] But the people who you see doing things like that are people who had an audience already, right?
[00:04:33.200 --> 00:04:35.280] They're a personality who people love.
[00:04:35.280 --> 00:04:43.440] And so they will come along with you if you want to create a channel or a podcast that touches on all these facets of your life.
[00:04:43.440 --> 00:04:45.120] But it's very rare.
[00:04:45.120 --> 00:04:50.000] So don't look at podcasts that seem like they're all over the place and try to model that.
[00:04:50.000 --> 00:04:54.960] That's not going to work from you if you're starting from scratch, if you're building your audience from scratch.
[00:04:54.960 --> 00:04:59.840] You have got to guide people to what it is that your show is about.
[00:04:59.840 --> 00:05:02.560] But before we even get there, you've got to guide yourself.
[00:05:02.560 --> 00:05:09.120] You've got to guide yourself and hone in on the question that I ask the most of my podcast moguls.
[00:05:09.120 --> 00:05:11.040] What do you want to be known for?
[00:05:11.040 --> 00:05:12.560] What do you want to be known for?
[00:05:12.560 --> 00:05:15.280] Because before you get paid, you have to be known for something, right?
[00:05:15.280 --> 00:05:28.640] So people will pay me to do a sponsorship about business-related products or even a product that people who are listening to my show, because I know my audience will likely buy, even if it's a lifestyle product, because I know my audience.
[00:05:28.640 --> 00:05:34.760] But if I am all over the place, they won't come calling because they need to know.
[00:05:34.760 --> 00:05:35.960] what I'm known for.
[00:05:35.960 --> 00:05:38.920] And before they can know what I'm known for, I determined that.
[00:05:38.920 --> 00:05:45.640] I determined that I wanted to be someone who was known for entrepreneurship, side hustling, and marketing-based content.
[00:05:45.640 --> 00:05:49.880] So when I say marketing, it's social media marketing about building your business presence online.
[00:05:49.880 --> 00:05:51.800] So it's not just any kind of marketing.
[00:05:51.800 --> 00:05:56.360] So I became clear about what I wanted to do and what my verticals are.
[00:05:56.360 --> 00:05:58.280] And then I went out to the world.
[00:05:58.280 --> 00:06:01.800] So similarly, you have to do that before you can get paid.
[00:06:06.920 --> 00:06:08.600] In line with that is number two.
[00:06:08.600 --> 00:06:15.160] And the reason why your podcast isn't making money is you think your podcast needs to promote every skill and passion that you have.
[00:06:15.160 --> 00:06:24.600] So this is another one that I work to hone in and help people to hone in when I coach them is, okay, so let's decide that you want to be known for a few things.
[00:06:24.600 --> 00:06:28.760] Now you're starting to throw everything, oh, Nikayla, but I do this and Nikayla, I do that.
[00:06:28.760 --> 00:06:30.200] No, no, no, no, no.
[00:06:30.520 --> 00:06:33.560] Your podcast is not even about you.
[00:06:33.560 --> 00:06:35.560] Okay, we're going to get to that in a second.
[00:06:35.560 --> 00:06:38.600] Your podcast is not about you.
[00:06:38.600 --> 00:06:39.720] Did you know that?
[00:06:39.720 --> 00:06:44.840] So a lot of people start podcasts with very selfish intentions.
[00:06:44.840 --> 00:06:47.160] And that's the reason why you're not making money.
[00:06:47.160 --> 00:06:58.120] You can't make money if you decided to start a self-serving platform that you think people will just flock to because you want to podcast to promote yourself and sell your things.
[00:06:58.120 --> 00:07:04.440] Nobody's sitting around like, oh, I can't wait to hear what Nikayla's doing and what she's selling me today.
[00:07:04.440 --> 00:07:05.800] Like, that's not what they're thinking.
[00:07:05.800 --> 00:07:06.520] They want to learn.
[00:07:06.520 --> 00:07:08.520] I want to know how Nikayla runs her business.
[00:07:08.520 --> 00:07:11.800] I want to know how this guest got to be where they are.
[00:07:11.800 --> 00:07:17.760] And in the process of that, if you want to suggest something that can help me with my business, sure, I'll consider it.
[00:07:17.760 --> 00:07:26.640] Like, if I'm going to share with you the fact that I've been doing this podcast via video for the last three years and I use this platform called Riverside FM.
[00:07:26.640 --> 00:07:33.200] And if you want to podcast and do a video podcast for the low and not have to get studio time, you can use Riverside too.
[00:07:33.200 --> 00:07:37.120] And you could use my code Hustle Pro and get 10% off any plan.
[00:07:37.120 --> 00:07:41.920] I could tell you that, and I would be very much for real and not even trying to promote anything.
[00:07:41.920 --> 00:07:48.800] Yes, it's my affiliate link, but also it's Real Deal Holyfield, what works for me and what has allowed my podcast to scale to 10 million downloads.
[00:07:48.800 --> 00:07:50.000] So that makes sense.
[00:07:50.000 --> 00:07:51.120] You understand what I'm saying?
[00:07:51.120 --> 00:07:54.000] It doesn't make sense to say I am an attorney.
[00:07:54.000 --> 00:08:00.240] I want to sell my attorney packages and also my different templates for this and this and that.
[00:08:00.240 --> 00:08:04.080] So I am going to start a podcast all about me and what I do.
[00:08:04.080 --> 00:08:09.680] And yes, I'll discuss different things, but mainly I'm only thinking through the lens of how to promote my business.
[00:08:09.680 --> 00:08:12.320] Boring.
[00:08:12.320 --> 00:08:13.440] Boring.
[00:08:13.440 --> 00:08:16.560] Let's talk about topics that people care about.
[00:08:16.560 --> 00:08:19.760] Let's talk about story-based content.
[00:08:19.760 --> 00:08:24.800] At the end of the day, people pop in a podcast in their ear or they watch a podcast for entertainment.
[00:08:24.800 --> 00:08:27.600] And you think about podcasting, you should think about it.
[00:08:27.600 --> 00:08:30.960] First of all, it's media and think about it like any other medium.
[00:08:30.960 --> 00:08:36.240] When I pop on something on TV, on Netflix, I'm popping it on for a reason.
[00:08:36.240 --> 00:08:44.800] I either want to laugh, cry, be, you know, scared under my covers, or just learn something like through a documentary, right?
[00:08:44.800 --> 00:08:46.240] Or something about business.
[00:08:46.240 --> 00:08:50.960] So, if you think about these different things that people want to do, that's why you should be starting your podcast.
[00:08:50.960 --> 00:08:56.880] And if your business weaves into that organically, the rest will take care of itself.
[00:08:56.880 --> 00:08:59.280] But it's about who you want to talk to.
[00:08:59.280 --> 00:09:00.600] So, let's get into the who.
[00:09:01.720 --> 00:09:09.320] You can't make money if you're more focused on what you want to talk about and the brand you want to build than what your audience wants to hear.
[00:09:09.640 --> 00:09:11.880] Your audience is who matters.
[00:09:11.880 --> 00:09:13.960] Your audience is how you grow your show.
[00:09:13.960 --> 00:09:17.560] Understanding who would listen to this and why do they want to listen to this?
[00:09:17.560 --> 00:09:19.400] And what does that person need?
[00:09:19.400 --> 00:09:24.760] Your podcast exists purely and sincerely to serve that need.
[00:09:24.760 --> 00:09:36.280] And when I use the language serve, sometimes people get a little confused because you're like, well, when I listen and I just kiki and laugh with some of my favorite shows, they're not serving me.
[00:09:36.280 --> 00:09:37.800] They're just entertaining me.
[00:09:37.800 --> 00:09:39.800] Yes, that is service.
[00:09:39.800 --> 00:09:41.080] Yes, that is service.
[00:09:41.080 --> 00:09:41.720] Why?
[00:09:41.720 --> 00:09:43.880] Because life is hard enough.
[00:09:43.880 --> 00:09:46.760] We need moments of pure laughter.
[00:09:46.760 --> 00:10:02.280] And so that podcast that's just humorous or just lifestyle, pure like veg out, gossip, whatever it is, it's serving the need of giving you stress relief, giving you a moment of joy away from all the seriousness in life.
[00:10:02.600 --> 00:10:06.040] And so that is the same way you have to approach your podcast.
[00:10:06.040 --> 00:10:15.640] So those podcasts that are lifestyle-based or comedy or humor-based, now they're able to make money because they've tapped into what their audience needs.
[00:10:15.640 --> 00:10:17.640] They said, we're going to make a show about XYZ.
[00:10:17.800 --> 00:10:20.200] These are the topics that we're going to cover on the show.
[00:10:20.200 --> 00:10:34.360] We're going to focus on lifestyle as it relates to adulting or motherhood or corporate America while black or just figuring out all these different aspects of life, whether it's finance, health, dating.
[00:10:34.360 --> 00:10:46.000] Once they have told their audience what it's about, they've then given their audience the opportunity to opt in and say, oh, when I need my fix about health and fitness, I'm going to check out that episode and that show.
[00:10:44.840 --> 00:10:51.840] When I need my fix about business and building my funnels and getting my side hustle up and running, I'm gonna go to this show.
[00:10:52.160 --> 00:10:59.120] And once you've let your audience know what they can come to you for, when they're in the mood for that, they're gonna come to you for that.
[00:10:59.120 --> 00:11:09.440] And again, you make money because you're able to then serve your audience with what they need in that context, whether it's a sponsored read or whether it's a service you're then going to provide.
[00:11:09.440 --> 00:11:12.720] Maybe it's a wellness retreat, maybe it's a writing retreat.
[00:11:12.720 --> 00:11:20.640] My podcast mogul student, Lori Tharps, she talks about in her episode on this show, we did a student spotlight for podcast moguls.
[00:11:20.640 --> 00:11:35.920] And she talks about the fact that once she really honed in on the fact that her audience were writers, fellow writers, BIPOC writers who were trying to figure out this world and how to make money, because you know what they always have the cliche of starving artists.
[00:11:35.920 --> 00:11:39.280] Like it's not easy to be a writer and to figure out how do I actually make money.
[00:11:39.280 --> 00:11:44.080] And she's written tons of books and ghosts written tons of books and she knows how to make money.
[00:11:44.080 --> 00:11:45.360] So she said, you know what?
[00:11:45.360 --> 00:11:48.800] Not only do I enjoy talking about this, but I also want to help people.
[00:11:48.800 --> 00:12:02.640] So now, boom, you have awesome content that people are opting to listen to because these writers, her audience, they want to become better writers and they want to become better business-minded writers.
[00:12:02.640 --> 00:12:09.120] And she is able to also sell services like her retreat that's actually helping them.
[00:12:09.120 --> 00:12:16.720] So many times people they hear the word sell and that's why I use it so frequently, especially in this episode, and they get weirded out by selling.
[00:12:16.720 --> 00:12:19.760] Everybody needs to sell in order to make money.
[00:12:19.760 --> 00:12:21.440] Selling is not a bad thing.
[00:12:21.440 --> 00:12:31.320] Selling people false promises or selling people things they don't need is a bad thing, but selling people something that they want or need is a good thing.
[00:12:36.680 --> 00:12:42.120] So now let's get into the next thing that might be hindering you from making money.
[00:12:42.120 --> 00:12:44.360] And that is, you don't have a content plan.
[00:12:44.360 --> 00:12:45.240] You're just winging it.
[00:12:45.240 --> 00:12:46.200] You're just out here.
[00:12:46.200 --> 00:12:48.760] You said, I got the vibes to start this podcast.
[00:12:48.760 --> 00:12:50.760] And every week you're inspired by something else.
[00:12:50.760 --> 00:12:51.960] Oh, maybe I should talk about that.
[00:12:51.960 --> 00:12:53.640] Oh, maybe I should talk about this.
[00:12:53.640 --> 00:12:59.400] You have not sat down and thought through what your episodes will be for the rest of this year into next year.
[00:12:59.400 --> 00:13:05.080] I like to map out, even if it changes, what a full year of episodes could look like.
[00:13:05.080 --> 00:13:11.640] And if I can't get to a full year, then what the next six months of episodes would be called and what topics would I want to focus on.
[00:13:11.640 --> 00:13:26.360] And once you do that, that is your blueprint, your guide for helping you navigate who you reach out to, what you outline, the things that you research to bring information back to your listeners.
[00:13:26.360 --> 00:13:28.280] You can't just be out here winging it.
[00:13:28.280 --> 00:13:38.360] So winging it with your podcast is akin to, have you ever seen how much fitness content we get inundated with on social media?
[00:13:38.360 --> 00:13:43.240] And if you aren't careful, you're like, oh, I'll do that workout today.
[00:13:43.240 --> 00:13:44.840] Ooh, that one looks cool for abs.
[00:13:44.840 --> 00:13:46.840] Let me do that ab workout tomorrow.
[00:13:46.840 --> 00:13:53.000] And because you're dibbling and dabbling and you didn't take the time to even see, okay, what's this person's program?
[00:13:53.000 --> 00:13:55.880] I know I can't spot reduce any area of fat.
[00:13:56.040 --> 00:13:58.120] So why am I dibbling and dabbling?
[00:13:58.120 --> 00:14:01.800] I need to truly say, all right, this is the program I want to do.
[00:14:01.800 --> 00:14:06.760] I want to focus on strength training, or I want to focus on cardiovascular, whatever it is.
[00:14:06.760 --> 00:14:13.880] You have to spend at least 21 days or even more than that focused on a program.
[00:14:13.880 --> 00:14:15.520] You can't just dibble and dabble.
[00:14:13.960 --> 00:14:22.400] Similarly, with podcasting, you can't just dibble and dabble in your content because it will be unfocused and it will look unfocused.
[00:14:22.720 --> 00:14:34.480] And what will happen is someone may tune into an episode, but then they'll click over to your full show overview with all your episodes and they'll be like, This was a cool episode, but this podcast is not really for me.
[00:14:34.480 --> 00:14:38.000] One week, she's talking about investing Bitcoin.
[00:14:38.000 --> 00:14:39.760] The next week, she's talking about motherhood.
[00:14:39.760 --> 00:14:42.080] The next week, she's talking about influencing.
[00:14:42.080 --> 00:14:43.600] It's just all over the place.
[00:14:43.600 --> 00:14:49.840] So, I might every once in a while dibble and dabble, but I'm not going to be a subscriber because I don't think this is for me.
[00:14:49.840 --> 00:14:51.360] I don't know what the show is about.
[00:14:51.360 --> 00:15:06.560] You want people to not only listen to your episodes when they come across it, but also go over to the overview of your show, immediately understand, immediately see themselves, and then say, Oh, I want to subscribe because I want to make sure I'm notified when the next episode drops.
[00:15:06.560 --> 00:15:10.800] So, that's what happens when you have a clear content plan.
[00:15:10.800 --> 00:15:13.040] So, you see what I'm saying with these fundamentals?
[00:15:13.040 --> 00:15:19.200] These are fundamental things that podcasters overlook, and then they get further down the line.
[00:15:19.200 --> 00:15:22.240] They're a year in, six months into making content.
[00:15:22.240 --> 00:15:30.080] And because all these things were not optimized and built strategically, they're wondering, Hey, why am I not making money?
[00:15:30.080 --> 00:15:34.800] You're not making money because people don't know what your show is about, who it's for, or what you do.
[00:15:34.800 --> 00:15:39.120] And so, why would brands pay you, or why would people pay you, right?
[00:15:44.480 --> 00:15:49.520] Now, let's talk about the last four things that prevent you from making money.
[00:15:49.520 --> 00:15:54.960] So, number five is you're not marketing your episodes well enough.
[00:15:55.280 --> 00:16:03.800] Marketing is exhaustive, you should feel spent, you should spend time sitting and thinking through your marketing plan.
[00:15:59.840 --> 00:16:06.760] It's not just putting up a quick graphic, hey, new episode.
[00:16:06.920 --> 00:16:12.200] It's not just sending a quick email, it's an overall cohesive plan.
[00:16:12.200 --> 00:16:23.400] So, you need to market your episodes well enough so that your show can grow, your listener base can grow, your regular downloads can grow if you hope to monetize your episode based on downloads.
[00:16:23.400 --> 00:16:25.640] But we'll get to that in a second.
[00:16:25.640 --> 00:16:33.960] And in addition to not marketing your episodes well enough, you are not marketing your episodes consistently enough.
[00:16:33.960 --> 00:16:35.720] Oh, this is gonna rustle some feathers.
[00:16:35.720 --> 00:16:36.360] Is it Russell?
[00:16:36.360 --> 00:16:36.680] I don't know.
[00:16:36.680 --> 00:16:41.160] Sometimes I get my words mixed up, but it's not just one post, friends.
[00:16:42.680 --> 00:16:44.520] It's not just one post.
[00:16:44.520 --> 00:16:51.160] So, when you see me just posting one or two posts for an episode, that's based on bandwidth.
[00:16:51.160 --> 00:16:55.560] But that's not how I started out and grew Side Hustle Pro to 10 million downloads.
[00:16:55.560 --> 00:17:08.040] I grew Side Hustle Pro to 10 million downloads by making sure you could not come across my social media profiles without knowing that Nikayla has a podcast called Side Hustle Pro, and this was the last person she just interviewed.
[00:17:08.040 --> 00:17:16.520] Every single time an episode drops, you have to treat it like it's the first week, like you're launching your podcast.
[00:17:16.520 --> 00:17:21.960] I'm talking about you get real estate on every single social media platform that makes sense for your audience.
[00:17:21.960 --> 00:17:25.640] I'm not telling you to go on Pinterest or threads if that's not for you.
[00:17:25.640 --> 00:17:26.600] Don't stretch yourself.
[00:17:26.600 --> 00:17:36.760] But the main one, the core powerful social media platforms that are still thriving: yes, Facebook, yes, LinkedIn, yes, Instagram, yes, Twitter, yes, TikTok.
[00:17:36.760 --> 00:17:37.520] All right.
[00:17:37.520 --> 00:17:40.200] Make sure that you have real estate on these platforms.
[00:17:40.200 --> 00:17:52.320] And with LinkedIn, it could be just your personal, you don't have to set up a brand page, and then every single time an episode drops, you are posting in a story-based format, a rundown of what that episode is about.
[00:17:52.320 --> 00:17:58.320] If you're doing the video component, which I assume most of you are these days, especially when Riverside makes it that easy, right?
[00:17:58.320 --> 00:18:02.000] So if you're doing that, then you are taking a snippet of your episode.
[00:18:02.000 --> 00:18:03.760] With Riverside, you can do magic clips.
[00:18:03.760 --> 00:18:05.520] So it clips it for you, all right?
[00:18:05.520 --> 00:18:10.000] Or you can do the time codes yourself and say, hey, I want this clip from this part to this part.
[00:18:10.000 --> 00:18:16.240] Make it a reel, post it on TikTok, post it on Facebook, post it on LinkedIn, post it on Twitter.
[00:18:16.240 --> 00:18:18.640] And then also start building up your email list.
[00:18:18.640 --> 00:18:19.840] So start with your network.
[00:18:19.840 --> 00:18:21.440] Say, hey, I'm launching this podcast.
[00:18:21.440 --> 00:18:23.200] Do you want to opt in to get alerts?
[00:18:23.200 --> 00:18:23.760] Cool.
[00:18:23.760 --> 00:18:26.720] Have them sign up to get notified every time you drop.
[00:18:26.720 --> 00:18:34.560] If you're intimidated by email lists, start by doing it manually and then build up, get yourself comfortable with using an email platform such as ConvertKit.
[00:18:34.560 --> 00:18:35.840] That's the one I use.
[00:18:35.840 --> 00:18:37.360] Or you can use MailChimp.
[00:18:37.360 --> 00:18:39.360] You can use any email platform, right?
[00:18:39.680 --> 00:18:43.120] And every time an email drops, send it out to your list.
[00:18:43.120 --> 00:18:43.760] Okay.
[00:18:43.760 --> 00:18:44.800] Send it out to your list.
[00:18:44.800 --> 00:18:46.720] Oh, by the way, use YouTube shorts as well.
[00:18:46.720 --> 00:18:49.120] I don't utilize it enough, but that's about to change.
[00:18:49.120 --> 00:18:52.560] So you need to market consistently and exhaustively.
[00:18:52.560 --> 00:18:57.600] Marketing is not just about the post itself, but it's about amplification of the post.
[00:18:57.600 --> 00:18:59.360] It's continued amplification.
[00:18:59.360 --> 00:19:07.840] It's thinking about it as almost marketing until you're blue in the face because even though you think you're annoying people, they're not seeing your posts.
[00:19:07.840 --> 00:19:09.920] Most people, they're not on LinkedIn every day.
[00:19:09.920 --> 00:19:11.120] They're not on Instagram every day.
[00:19:11.120 --> 00:19:15.360] And when they are on it, they're seeing Instagram is now prioritizing your favorites again.
[00:19:15.360 --> 00:19:17.520] So they're seeing the people they engage with the most.
[00:19:17.520 --> 00:19:21.440] So you have to do a little more legwork to make sure you're getting in front of people.
[00:19:21.440 --> 00:19:23.920] So you have to market consistently.
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[00:20:08.040 --> 00:20:14.040] Invite your team, clients, and contractors without ever worrying about added fees.
[00:20:14.040 --> 00:20:18.360] But Sweet Dash isn't just about software, it's about community.
[00:20:18.360 --> 00:20:22.520] Their roadmap is powered by user feedback and live support sessions.
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[00:20:40.120 --> 00:20:44.520] You can try it free at sweet-com slash sidehustle.
[00:20:44.520 --> 00:20:51.480] That's S-U-I-T-E-D-A-S-H.com backslash sidehustle, all one word.
[00:20:51.480 --> 00:20:57.880] Sweet Dash, one login, one platform, one monthly payment, unlimited potential.
[00:20:57.880 --> 00:21:02.520] If you've shopped online, chances are you've bought from a business powered by Shopify.
[00:21:02.520 --> 00:21:05.640] You know, that purple shop pay button you see at checkout?
[00:21:05.640 --> 00:21:09.560] The one that makes buying so incredibly easy-that's Shopify.
[00:21:09.560 --> 00:21:16.640] And there's a reason so many businesses sell with it because Shopify makes it incredibly easy to start and run your business.
[00:21:14.840 --> 00:21:25.120] Shopify is the commerce platform behind 10% of all e-commerce in the U.S., from household names like Mattel and Gymshark to brands just getting started.
[00:21:25.120 --> 00:21:33.680] Shopify gives you that leg up from day one with hundreds of beautiful ready-to-go templates to express your brand style and forget about the code.
[00:21:33.680 --> 00:21:39.200] Tackle all those important tasks in one place, from inventory to payments to analytics and more.
[00:21:39.200 --> 00:21:44.320] And spread your brand name with built-in marketing and email tools to find and keep new customers.
[00:21:44.320 --> 00:21:50.080] And did I mention that iconic purple shop pay button that's used by millions of businesses around the world?
[00:21:50.080 --> 00:21:54.000] It's why Shopify has the best converting checkout on the planet.
[00:21:54.000 --> 00:21:56.080] Your customers already love it.
[00:21:56.080 --> 00:22:00.640] If you want to see less carts being abandoned, it's time for you to head over to Shopify.
[00:22:00.640 --> 00:22:07.280] Sign up for your $1 per month trial and start selling today at shopify.com/slash hustlepro.
[00:22:07.280 --> 00:22:09.760] Go to shopify.com/slash hustlepro.
[00:22:09.760 --> 00:22:20.560] Shopify.com/slash hustle pro and then let's get into the actual money piece of this.
[00:22:20.560 --> 00:22:28.400] And I'll go back and make sure that I shared tips as well because I know I was talking about the problem, but I want to also make sure you know and understand how to fix it.
[00:22:28.400 --> 00:22:36.320] So, number seven is you're only focusing on traditional podcast sponsorships and not thinking outside the box.
[00:22:36.640 --> 00:22:51.360] What I mean by traditional podcast sponsorship is that typically I would say definitely before the top of this year, when there was a big iOS shift that really tanks a lot of people's downloads, I talked about this in my episode about relaunching Podcast Mooguls 2.0.
[00:22:51.680 --> 00:22:54.480] So, there was a big shakeup in the podcast industry.
[00:22:54.480 --> 00:23:05.080] And so, now I honestly, I am not focused on download-based sponsorships alone because that is a losing game because you don't have enough control in that.
[00:23:05.400 --> 00:23:11.000] You need to focus on what you can control, which is multi-channel sponsorships.
[00:23:11.000 --> 00:23:27.800] So if you have less downloads and you've done all the fundamental steps that I talked about and you still have lower downloads, so lower meaning like maybe you have under a thousand per episode, you know, just like not thousands and thousands of downloads each and every month, you can do a couple things.
[00:23:27.800 --> 00:23:32.840] You need to be thinking about packaging, packaging, and then pitching.
[00:23:32.840 --> 00:23:42.680] So packaging, what you can provide a sponsor, you can provide maybe Instagram, a TikTok, and then an email, a dedicated email, right?
[00:23:42.680 --> 00:23:47.560] Or you can bring someone on as your launch sponsor if you haven't launched yet.
[00:23:47.560 --> 00:23:51.480] Or you can have someone opt in to be a premiere.
[00:23:51.480 --> 00:23:55.880] You can have packages as far as platinum, silver, gold sponsorship, what have you.
[00:23:55.880 --> 00:24:02.200] Offer them a really good bulk deal, kind of like a wholesale deal of all your episodes.
[00:24:02.200 --> 00:24:11.480] But this is something that you have to be really serious about podcasting to do because you have to make sure that you are definitely going to hit all the episodes that you promised them in this package.
[00:24:11.480 --> 00:24:18.360] But if you think outside the box, you think of different ways to get paid on the sponsorship side.
[00:24:18.360 --> 00:24:24.360] And then also you can think about different ways to sell services or sell products.
[00:24:24.360 --> 00:24:28.920] So you know how we talked about what you want to be known for.
[00:24:28.920 --> 00:24:37.400] Now that you want to be known for that thing, how can you take what you know and offer it as a service?
[00:24:37.400 --> 00:24:39.240] So, back to my example of Lori.
[00:24:39.240 --> 00:24:41.160] Lori started out by one.
[00:24:41.160 --> 00:24:44.200] She wanted to first and foremost quit her job.
[00:24:44.200 --> 00:24:47.600] She was a tenured professor in Philadelphia, I believe.
[00:24:47.840 --> 00:24:55.040] Tenured professor just got tired of that kind of track and said, I really want to move to Spain with my family.
[00:24:55.040 --> 00:24:56.000] What would that look like?
[00:24:56.000 --> 00:25:03.520] You know, paying off debt, saving, and being able to support myself in this totally new country.
[00:25:03.520 --> 00:25:06.560] So, she then started to think of revenue streams.
[00:25:06.720 --> 00:25:15.840] She's already has a revenue stream as a ghostwriter and as a writer, but how could she opt that even more and have the podcast pay for itself?
[00:25:15.840 --> 00:25:19.760] Well, there are people who are listening to the podcast who want to do what she has done.
[00:25:19.760 --> 00:25:22.560] So, it's like, okay, why don't I teach you how to do that?
[00:25:22.560 --> 00:25:28.240] And some of you guys, you might not want to do a course, you might not want to do these traditional things.
[00:25:28.560 --> 00:25:29.440] That's okay.
[00:25:29.440 --> 00:25:31.280] Think about what would feel good for you.
[00:25:31.280 --> 00:25:41.920] Would a weekend getting together in a small group feel good for you to just like have people come, you download to them everything you know, and they leave feeling like, Yes, I got everything.
[00:25:41.920 --> 00:25:43.760] Um, sometimes I think about that, right?
[00:25:43.760 --> 00:25:48.080] I really like for people to get everything they want out of me.
[00:25:48.080 --> 00:25:55.200] So, you come with your questions, make sure you know what you really want from me before we have coaching, and then you come and I will tell you it all.
[00:25:55.600 --> 00:25:57.600] You want to know my numbers, you want to know what I said when I paid?
[00:25:57.600 --> 00:25:59.280] She's like, Sure, here you go, here you go.
[00:25:59.280 --> 00:26:01.120] I want you to be happy, right?
[00:26:01.120 --> 00:26:10.960] So, I could charge, I do charge for that in my coaching, but I could do a weekend and have you know a cohort session come just for a weekend so I don't have to put that together in a new course or something.
[00:26:10.960 --> 00:26:12.320] Think about what feels good for you.
[00:26:12.320 --> 00:26:21.760] So, what feels good for Lori is inviting people to beautiful Spain, countryside, having activities, and then we get down to business.
[00:26:21.760 --> 00:26:30.840] And by the way, I interviewed Lori on the show, and then one podcast mogul that I have in the program who also listens to the show.
[00:26:29.840 --> 00:26:35.800] And then one of my great good friends from business school both went to the retreat.
[00:26:36.120 --> 00:26:37.720] So isn't that amazing?
[00:26:37.720 --> 00:26:43.160] Like, I'm so happy that I can share something with people that they want.
[00:26:43.160 --> 00:26:52.360] But also, when you get clear on what you want to be known for, it's easier for you to tell people what you do and what you're known for.
[00:26:52.360 --> 00:26:54.680] And then it's easy for you to be paid.
[00:26:54.680 --> 00:26:58.680] So, because Lori got so clear, she had been in podcast moguls for a few years.
[00:26:58.680 --> 00:27:01.160] She started with a completely different podcast.
[00:27:01.160 --> 00:27:02.680] It was not targeted.
[00:27:02.680 --> 00:27:04.600] It was called My American Melting Pot.
[00:27:04.600 --> 00:27:06.680] You don't know what it is from the name.
[00:27:06.680 --> 00:27:07.800] You don't know what it's about.
[00:27:07.800 --> 00:27:09.000] You don't know who it's for.
[00:27:09.000 --> 00:27:11.960] You think maybe it's about history or immigration.
[00:27:11.960 --> 00:27:13.000] I don't know, right?
[00:27:13.160 --> 00:27:21.960] Once she got clear and she relaunched a completely different podcast, the Read, Write, Create podcast, then I'm like, Of course, I want to talk to you.
[00:27:21.960 --> 00:27:23.240] Of course, I want you on the show.
[00:27:23.240 --> 00:27:25.400] It makes so much sense to me what you do now.
[00:27:25.400 --> 00:27:27.160] I love how you side hustled.
[00:27:27.160 --> 00:27:32.120] I was able to quit your job, move to Spain, and now you do this all because of your podcast.
[00:27:32.120 --> 00:27:38.280] And because she's clear, she makes money because she told people what she does on the show and they wanted to pay her.
[00:27:38.280 --> 00:27:42.040] They reached out, they hit that link, they signed up for her retreat.
[00:27:42.040 --> 00:27:43.640] That's what you got to do as well.
[00:27:43.640 --> 00:27:46.200] There are many ways to make money podcasting.
[00:27:46.200 --> 00:27:58.760] You can sell merch, you can have a Patreon or some kind of private community where you provide people with extra knowledge or behind the scenes or just bonus content and also other bonuses for a fee.
[00:27:58.760 --> 00:28:05.640] You can sell your own books, you can sell your own courses, you can do retreats, you can do trainings.
[00:28:05.640 --> 00:28:07.720] As I'm saying these things, what excites you?
[00:28:07.720 --> 00:28:08.520] Think about that.
[00:28:08.520 --> 00:28:12.440] And then let's work and get you towards that.
[00:28:12.440 --> 00:28:13.160] All right.
[00:28:19.040 --> 00:28:29.120] And then the last thing, tip number eight, why you're not making money podcasting is you're not making something that people want to pay you for.
[00:28:29.760 --> 00:28:30.800] Don't get mad at me.
[00:28:30.800 --> 00:28:32.640] I'm just telling you why you're not making money.
[00:28:32.640 --> 00:28:33.280] Okay.
[00:28:33.920 --> 00:28:38.480] If you made something and nobody is buying it, then they don't want to pay you for that.
[00:28:38.480 --> 00:28:40.720] Let's go back to the drawing board.
[00:28:40.720 --> 00:28:45.200] Sometimes we overlook what we're good at because we take it for granted.
[00:28:45.200 --> 00:28:53.040] And so now here you are being inauthentic by putting something out in the universe and saying, hey, you can get such and such from me.
[00:28:53.040 --> 00:28:56.880] And people are like, actually, I want to know how you do that thing.
[00:28:57.200 --> 00:28:58.480] I want to know how you do that.
[00:28:58.480 --> 00:28:59.280] Teach me that.
[00:28:59.280 --> 00:29:00.560] I'll pay you for that.
[00:29:00.560 --> 00:29:02.960] And that's kind of similar to what happened to me.
[00:29:02.960 --> 00:29:07.520] I tested out many revenue streams when I started Side House of Pro podcasts.
[00:29:07.520 --> 00:29:12.160] And the thing that I kept getting questions about were podcast questions.
[00:29:12.480 --> 00:29:14.320] How did you launch your podcast?
[00:29:14.320 --> 00:29:15.520] How did you market your podcast?
[00:29:15.600 --> 00:29:17.120] How did you grow your podcast so fast?
[00:29:17.120 --> 00:29:18.720] How did you quit your job to podcast?
[00:29:18.720 --> 00:29:20.160] All these questions kept coming my way.
[00:29:20.160 --> 00:29:21.280] And I said, you know what?
[00:29:21.280 --> 00:29:24.400] I am just going to create a course and break it all down.
[00:29:24.400 --> 00:29:25.520] And so that's what I did.
[00:29:25.520 --> 00:29:28.160] And that's how podcast moguls came to be.
[00:29:28.160 --> 00:29:35.200] So I've had people say, hey, you know, you're Sidehouse of Pro, you promote your podcast Mogul's course.
[00:29:35.200 --> 00:29:41.040] And the Podcast Mogul's course came so organically from my audience.
[00:29:41.040 --> 00:29:43.760] It's not something I set out to do initially.
[00:29:43.760 --> 00:29:48.240] So that just goes to show you what comes from knowing your audience and listening to your audience.
[00:29:48.240 --> 00:29:52.880] Now, I'm not saying everyone that listens to SciHus of Pro wants to start a podcast.
[00:29:52.880 --> 00:29:54.880] By no means am I saying that.
[00:29:54.880 --> 00:29:59.280] However, it's important to tap into the needs that your audience has.
[00:29:59.280 --> 00:30:07.080] So I can serve different needs, especially while I'm figuring out what I want to create to help people in a particular space.
[00:30:07.080 --> 00:30:13.800] So I am still deciding how I want to package my side hustle knowledge, right?
[00:30:13.800 --> 00:30:15.160] Do I want to do another course?
[00:30:15.160 --> 00:30:16.040] Do I want to do a book?
[00:30:16.040 --> 00:30:17.480] Do I want to do retreats?
[00:30:17.480 --> 00:30:18.280] What have you?
[00:30:18.280 --> 00:30:21.640] I'm still working that out, you know, just to be transparent.
[00:30:21.640 --> 00:30:25.240] And as I learn what I want to do, I will share it with you guys.
[00:30:25.240 --> 00:30:33.000] But it's going to make sense because I'm going to listen to my audience and I'm going to take feedback and it's going to be based on what you need.
[00:30:33.000 --> 00:30:36.200] And so that is what you need to do as well.
[00:30:36.200 --> 00:30:46.440] So in order to replace your full-time income and become a professional podcaster like I've done, here are the four things you need to do in sum.
[00:30:46.440 --> 00:30:49.800] Number one, get clear on who your audience is.
[00:30:49.800 --> 00:30:53.160] Number two, get clear on what your audience wants.
[00:30:53.160 --> 00:30:55.160] Step three, create what they want.
[00:30:55.160 --> 00:30:57.640] And four, charge for it.
[00:30:57.640 --> 00:30:59.800] In order to do this, you can do a couple things.
[00:30:59.800 --> 00:31:03.320] You can do calls, which I encourage students to do inside of Podcast Moguls.
[00:31:03.480 --> 00:31:15.240] You could do a survey, reach out to people who are listening, do a call to action right inside of your podcast episodes or in your dedicated emails on social, wherever, and get some information.
[00:31:15.240 --> 00:31:16.120] Get information.
[00:31:16.120 --> 00:31:17.560] Ask people why do they listen?
[00:31:17.800 --> 00:31:19.400] What do they hope to learn from you?
[00:31:19.400 --> 00:31:20.760] What would they want to learn from you?
[00:31:20.760 --> 00:31:22.200] What did they want to buy from you?
[00:31:22.200 --> 00:31:24.520] Sometimes we rack our brain trying to figure things out.
[00:31:24.520 --> 00:31:26.280] And all you have to do is ask.
[00:31:26.280 --> 00:31:28.120] There are people who are willing to tell you.
[00:31:28.120 --> 00:31:29.880] All you have to do is ask.
[00:31:30.200 --> 00:31:35.160] The nuance with this, though, is make sure that you're not too easily swayed.
[00:31:35.160 --> 00:31:38.840] Take information and look for the trends.
[00:31:38.840 --> 00:31:44.360] If you talk to 10 people and one person randomly says, well, I think you're doing this wrong and blah, blah, blah.
[00:31:44.360 --> 00:31:47.360] Don't get too carried away with one person's opinion.
[00:31:47.360 --> 00:31:58.000] Look for trends because people's opinions, they are based in fact sometimes, but most of all, they're just based from their lens and their lived experience.
[00:31:58.000 --> 00:32:06.080] So you have to be careful to collect data, but look for trends, not individual opinions that send you down a rabbit hole in one way.
[00:32:06.080 --> 00:32:10.880] If someone's like, well, you're doing it all wrong and your show, that happens to some of my students as well.
[00:32:10.880 --> 00:32:14.560] Like someone's like, well, your show is too long.
[00:32:15.200 --> 00:32:20.880] And it's like, you might not be my core listener because the people, when I look at my stats, they're listening through this much.
[00:32:20.880 --> 00:32:25.120] Or when I do a short episode, they're letting me know, hey, why is this episode so short?
[00:32:25.120 --> 00:32:29.840] So make sure that you are not just switching up your whole game plan because of one person.
[00:32:29.840 --> 00:32:34.560] So now let's quickly recap again why your podcast isn't making money and how to fix it.
[00:32:34.560 --> 00:32:37.040] Let me go through each step and what you should do to fix it.
[00:32:37.040 --> 00:32:41.600] Number one, you think your podcast needs to showcase every topic under the sun you want to talk about?
[00:32:41.600 --> 00:32:41.840] No.
[00:32:41.840 --> 00:32:47.040] Number one, get clear on the main topic that you want your podcast to be about.
[00:32:47.040 --> 00:32:50.960] Number two, you think your podcast needs to promote every skill and passion you have.
[00:32:50.960 --> 00:32:54.960] Again, get clear on which skill and passions you want to promote.
[00:32:54.960 --> 00:33:00.720] Number three, you're more focused on what you want to talk about and the brand you want to build and what your audience wants to hear.
[00:33:00.720 --> 00:33:04.960] Instead of doing that, get clear on who your audience is and what they want to hear and what they need.
[00:33:04.960 --> 00:33:07.920] Your podcast is in service to them, not to you.
[00:33:08.240 --> 00:33:10.160] Number four, you don't have a content plan.
[00:33:10.160 --> 00:33:11.280] You're just winging it.
[00:33:11.280 --> 00:33:14.400] Sit down, write out your content for the year.
[00:33:14.400 --> 00:33:19.440] Make sure that you are thinking through what your podcast is going to be about, what you're going to cover.
[00:33:19.440 --> 00:33:22.880] Number five, you're not marketing your episodes well enough.
[00:33:22.880 --> 00:33:26.080] Make sure that you are marketing your episodes.
[00:33:26.080 --> 00:33:30.000] And number five, you're not marketing your episodes consistently enough.
[00:33:30.200 --> 00:33:40.120] Make sure that you are marketing your episodes each and every time across all platforms and you're treating every episode like it is the first episode.
[00:33:40.120 --> 00:33:44.680] Number seven, you're only focusing on traditional podcast sponsorships and not thinking outside the box.
[00:33:44.680 --> 00:33:47.400] Think about packages, think about different things you can do.
[00:33:47.400 --> 00:33:53.560] Podcast monetization, it's still a very, very young area, and there's room for creativity.
[00:33:53.560 --> 00:33:54.360] There are no rules.
[00:33:54.360 --> 00:33:58.200] It truly is still the wild, wild west, and things change all the time.
[00:33:58.200 --> 00:34:00.760] So you have to be willing to be flexible and adapt.
[00:34:00.760 --> 00:34:04.520] And then, number eight, you're not making something people want to pay for.
[00:34:04.520 --> 00:34:10.200] Re-evaluate how you're trying to make money and then revisit who your audience is and what they want to pay for.
[00:34:10.200 --> 00:34:15.640] So get clear on who your audience is, get clear on what your audience wants, create what they want, and charge for it.
[00:34:15.640 --> 00:34:24.040] So I'm teaching you how to make money from your podcast without a lot of downloads or a big audience in my next live class happening on July 18th.
[00:34:24.040 --> 00:34:29.800] Register at sidehustlepro.co/slash class and we can get even more into the details.
[00:34:29.800 --> 00:34:33.240] So I'll see you then and I'll talk to you next week.
[00:34:34.840 --> 00:34:37.880] Hey guys, thanks for listening to Side Hustle Pro.
[00:34:37.880 --> 00:34:42.600] If you like the show, be sure to subscribe, rate, and review on Apple Podcasts.
[00:34:42.600 --> 00:34:46.040] It helps other side hustlers just like you to find the show.
[00:34:46.360 --> 00:34:51.000] And if you want to hear more from me, you can follow me on Instagram at SideHustle Pro.
[00:34:51.000 --> 00:34:58.040] Plus, sign up for my six-foot Saturday newsletter at sidehustlepro.co slash newsletter.
[00:34:58.040 --> 00:35:05.480] When you sign up, you will receive weekly nuggets from me, including what I'm up to, personal lessons, and my business tip of the week.
[00:35:05.480 --> 00:35:10.200] Again, that's sidehustlepro.co/slash newsletter to sign up.
[00:35:10.200 --> 00:35:11.880] Talk to you soon.
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Prompt 2: Key Takeaways

Now please extract the key takeaways from the transcript content I provided.

Extract the most important key takeaways from this part of the conversation. Use a single sentence statement (the key takeaway) rather than milquetoast descriptions like "the hosts discuss...". 

Limit the key takeaways to a maximum of 3. The key takeaways should be insightful and knowledge-additive. 

IMPORTANT: Return ONLY valid JSON, no explanations or markdown. Ensure:
- All strings are properly quoted and escaped
- No trailing commas
- All braces and brackets are balanced
Format: {"key_takeaways": ["takeaway 1", "takeaway 2"]}

Prompt 3: Segments

Now identify 2-4 distinct topical segments from this part of the conversation.

For each segment, identify:
- Descriptive title (3-6 words)  
- START timestamp when this topic begins (HH:MM:SS format)
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Most important Key takeaway from that segment. Key takeaway must be specific and knowledge-additive.
- Brief summary of the discussion

IMPORTANT: The timestamp should mark when the topic/segment STARTS, not a range. Look for topic transitions and conversation shifts.

Return ONLY valid JSON. Ensure all strings are properly quoted, no trailing commas:
{
  "segments": [
    {
      "segment_title": "Topic Discussion", 
      "timestamp": "01:15:30",
      "key_takeaway": "main point from this segment",
      "segment_summary": "brief description of what was discussed"
    }
  ]
}

Timestamp format: HH:MM:SS (e.g., 00:05:30, 01:22:45) marking the START of each segment.

Prompt 4: Media Mentions

Now scan the transcript content I provided for ACTUAL mentions of specific media titles:

Find explicit mentions of:
- Books (with specific titles)
- Movies (with specific titles)  
- TV Shows (with specific titles)
- Music/Songs (with specific titles)

DO NOT include:
- Websites, URLs, or web services
- Other podcasts or podcast names

IMPORTANT: 
- Only include items explicitly mentioned by name. Do not invent titles.
- Valid categories are: "Book", "Movie", "TV Show", "Music"
- Include the exact phrase where each item was mentioned
- Find the nearest proximate timestamp where it appears in the conversation
- THE TIMESTAMP OF THE MEDIA MENTION IS IMPORTANT - DO NOT INVENT TIMESTAMPS AND DO NOT MISATTRIBUTE TIMESTAMPS
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Timestamps are given as ranges, e.g. 01:13:42.520 --> 01:13:46.720. Use the EARLIER of the 2 timestamps in the range.

Return ONLY valid JSON. Ensure all strings are properly quoted and escaped, no trailing commas:
{
  "media_mentions": [
    {
      "title": "Exact Title as Mentioned",
      "category": "Book",
      "author_artist": "N/A",
      "context": "Brief context of why it was mentioned",
      "context_phrase": "The exact sentence or phrase where it was mentioned",
      "timestamp": "estimated time like 01:15:30"
    }
  ]
}

If no media is mentioned, return: {"media_mentions": []}

Full Transcript

[00:00:00.240 --> 00:00:05.200] Does it ever feel like you're a marketing professional just speaking into the void?
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[00:00:28.640 --> 00:00:30.240] Terms and conditions apply.
[00:00:30.240 --> 00:00:35.120] You walk in tired and hungry, one bad dinner away from losing it.
[00:00:35.120 --> 00:00:36.480] You don't like to cook.
[00:00:36.480 --> 00:00:37.920] You don't want more takeout.
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[00:00:57.840 --> 00:01:01.040] Visit blueapron.com/slash terms for more.
[00:01:02.640 --> 00:01:09.200] And the reason why your podcast isn't making money is you think your podcast needs to promote every skill and passion that you have.
[00:01:09.200 --> 00:01:13.280] Now you're starting to throw everything, oh, Nikayla, but I do this, and Nikayla, I do that.
[00:01:13.280 --> 00:01:14.960] No, no, no, no, no.
[00:01:14.960 --> 00:01:18.720] Your podcast is not about you.
[00:01:19.360 --> 00:01:28.080] You're listening to Side Hustle Pro, the podcast that teaches you to build and grow your side hustle from passion project to profitable business.
[00:01:28.080 --> 00:01:30.960] And I'm your host, Nikayla Matthews Okome.
[00:01:30.960 --> 00:01:32.960] So let's get started.
[00:01:33.600 --> 00:01:34.240] Hey, friends.
[00:01:34.240 --> 00:01:36.400] Hey, welcome, welcome back to the show.
[00:01:36.400 --> 00:01:44.320] Today's episode is another solo episode with me, your host, Nikayla, and I am going to be talking about something that is near and dear to my heart.
[00:01:44.320 --> 00:01:48.400] And that's the topic of podcast monetization.
[00:01:48.400 --> 00:01:53.680] Specifically, I want to talk about why your podcast is not making money and what you should do about it.
[00:01:53.680 --> 00:01:54.800] So, some background on me.
[00:01:54.800 --> 00:02:00.920] If this is your first time listening or seeing me over here on the YouTube streets, I am Nikayla Matthews-Okome.
[00:01:59.920 --> 00:02:05.640] I am the host of the Side Hustle Pro podcast, which is a top business and entrepreneurship podcast.
[00:02:05.960 --> 00:02:08.120] I started it in 2016.
[00:02:08.120 --> 00:02:16.200] I was able to scale my revenue and quit my full-time job by December 2017 to become a full-time podcaster.
[00:02:16.200 --> 00:02:17.960] And I've been doing that ever since.
[00:02:17.960 --> 00:02:27.960] My main revenue streams are both brand partnerships and sponsorships, as well as selling my own courses and having my own VIP programs and one-on-one coaching.
[00:02:27.960 --> 00:02:30.760] So, there you have it in a nutshell, right?
[00:02:30.760 --> 00:02:33.240] Now, let's talk about why you're not making money.
[00:02:33.240 --> 00:02:39.800] So, first of all, what I really want to focus on today is I'll share what's not happening and then what you can do to fix it.
[00:02:39.800 --> 00:02:47.880] So, I hope that doesn't come off too negative, but I just want you to know that you really have to face directly what you're not doing correctly in order to fix it.
[00:02:47.880 --> 00:02:50.440] So, that's the approach that we're taking today.
[00:02:50.440 --> 00:02:58.600] So, first things first, one of the main things that is preventing you from making money is the setup phase of your podcast.
[00:02:58.600 --> 00:03:02.360] The setup phase for your podcast is so very important.
[00:03:02.360 --> 00:03:10.920] You can't make money down the line if your content isn't good, if the overall premise of your show isn't good, if you don't know who you're talking to.
[00:03:10.920 --> 00:03:13.640] All these things need to be squared away first.
[00:03:13.640 --> 00:03:15.480] So, let's start with the fundamentals.
[00:03:15.480 --> 00:03:25.720] So, number one, the reason why your podcast is not making money is because you think your podcast needs to showcase every topic under the sun you want to talk about.
[00:03:25.720 --> 00:03:28.120] Your podcast is not a catch-all.
[00:03:28.120 --> 00:03:29.560] Repeat after me.
[00:03:29.560 --> 00:03:35.320] I coach so many students inside of my program podcast moguls or in my one-on-one Cle IP coaching.
[00:03:35.320 --> 00:03:41.000] And the thing that takes us the most time to narrow down is what they want to talk about.
[00:03:41.000 --> 00:03:44.800] And it's because we feel like, oh my God, we're multi-passionate.
[00:03:44.600 --> 00:03:45.600] We could talk about this.
[00:03:44.680 --> 00:03:47.040] We could talk about that.
[00:03:47.040 --> 00:03:50.480] How in the world am I going to narrow it down on my podcast?
[00:03:44.840 --> 00:03:52.320] Your podcast is not your everything.
[00:03:52.640 --> 00:03:53.120] Okay.
[00:03:53.120 --> 00:03:54.880] You can be good at several things.
[00:03:54.880 --> 00:03:58.160] You can have different kinds of life experiences.
[00:03:58.160 --> 00:04:00.320] but that's not going to be branded well.
[00:04:00.320 --> 00:04:01.920] That's not going to be marketable.
[00:04:01.920 --> 00:04:02.320] Okay.
[00:04:02.320 --> 00:04:03.520] I'm Nikayla.
[00:04:03.520 --> 00:04:05.040] I am a side hustler.
[00:04:05.040 --> 00:04:06.080] I'm a mom.
[00:04:06.080 --> 00:04:10.960] I'm someone who loves hair and lifestyle, creating content around that.
[00:04:10.960 --> 00:04:18.960] If I try to make a podcast about all those things, entrepreneurship plus motherhood, plus lifestyle and hair content, that's doing too much.
[00:04:18.960 --> 00:04:22.480] I have to have different channels to address all the different things.
[00:04:22.480 --> 00:04:28.640] Now, if I really wanted to do it, I could probably find some unifying thread that would make it doable.
[00:04:28.640 --> 00:04:33.200] But the people who you see doing things like that are people who had an audience already, right?
[00:04:33.200 --> 00:04:35.280] They're a personality who people love.
[00:04:35.280 --> 00:04:43.440] And so they will come along with you if you want to create a channel or a podcast that touches on all these facets of your life.
[00:04:43.440 --> 00:04:45.120] But it's very rare.
[00:04:45.120 --> 00:04:50.000] So don't look at podcasts that seem like they're all over the place and try to model that.
[00:04:50.000 --> 00:04:54.960] That's not going to work from you if you're starting from scratch, if you're building your audience from scratch.
[00:04:54.960 --> 00:04:59.840] You have got to guide people to what it is that your show is about.
[00:04:59.840 --> 00:05:02.560] But before we even get there, you've got to guide yourself.
[00:05:02.560 --> 00:05:09.120] You've got to guide yourself and hone in on the question that I ask the most of my podcast moguls.
[00:05:09.120 --> 00:05:11.040] What do you want to be known for?
[00:05:11.040 --> 00:05:12.560] What do you want to be known for?
[00:05:12.560 --> 00:05:15.280] Because before you get paid, you have to be known for something, right?
[00:05:15.280 --> 00:05:28.640] So people will pay me to do a sponsorship about business-related products or even a product that people who are listening to my show, because I know my audience will likely buy, even if it's a lifestyle product, because I know my audience.
[00:05:28.640 --> 00:05:34.760] But if I am all over the place, they won't come calling because they need to know.
[00:05:34.760 --> 00:05:35.960] what I'm known for.
[00:05:35.960 --> 00:05:38.920] And before they can know what I'm known for, I determined that.
[00:05:38.920 --> 00:05:45.640] I determined that I wanted to be someone who was known for entrepreneurship, side hustling, and marketing-based content.
[00:05:45.640 --> 00:05:49.880] So when I say marketing, it's social media marketing about building your business presence online.
[00:05:49.880 --> 00:05:51.800] So it's not just any kind of marketing.
[00:05:51.800 --> 00:05:56.360] So I became clear about what I wanted to do and what my verticals are.
[00:05:56.360 --> 00:05:58.280] And then I went out to the world.
[00:05:58.280 --> 00:06:01.800] So similarly, you have to do that before you can get paid.
[00:06:06.920 --> 00:06:08.600] In line with that is number two.
[00:06:08.600 --> 00:06:15.160] And the reason why your podcast isn't making money is you think your podcast needs to promote every skill and passion that you have.
[00:06:15.160 --> 00:06:24.600] So this is another one that I work to hone in and help people to hone in when I coach them is, okay, so let's decide that you want to be known for a few things.
[00:06:24.600 --> 00:06:28.760] Now you're starting to throw everything, oh, Nikayla, but I do this and Nikayla, I do that.
[00:06:28.760 --> 00:06:30.200] No, no, no, no, no.
[00:06:30.520 --> 00:06:33.560] Your podcast is not even about you.
[00:06:33.560 --> 00:06:35.560] Okay, we're going to get to that in a second.
[00:06:35.560 --> 00:06:38.600] Your podcast is not about you.
[00:06:38.600 --> 00:06:39.720] Did you know that?
[00:06:39.720 --> 00:06:44.840] So a lot of people start podcasts with very selfish intentions.
[00:06:44.840 --> 00:06:47.160] And that's the reason why you're not making money.
[00:06:47.160 --> 00:06:58.120] You can't make money if you decided to start a self-serving platform that you think people will just flock to because you want to podcast to promote yourself and sell your things.
[00:06:58.120 --> 00:07:04.440] Nobody's sitting around like, oh, I can't wait to hear what Nikayla's doing and what she's selling me today.
[00:07:04.440 --> 00:07:05.800] Like, that's not what they're thinking.
[00:07:05.800 --> 00:07:06.520] They want to learn.
[00:07:06.520 --> 00:07:08.520] I want to know how Nikayla runs her business.
[00:07:08.520 --> 00:07:11.800] I want to know how this guest got to be where they are.
[00:07:11.800 --> 00:07:17.760] And in the process of that, if you want to suggest something that can help me with my business, sure, I'll consider it.
[00:07:17.760 --> 00:07:26.640] Like, if I'm going to share with you the fact that I've been doing this podcast via video for the last three years and I use this platform called Riverside FM.
[00:07:26.640 --> 00:07:33.200] And if you want to podcast and do a video podcast for the low and not have to get studio time, you can use Riverside too.
[00:07:33.200 --> 00:07:37.120] And you could use my code Hustle Pro and get 10% off any plan.
[00:07:37.120 --> 00:07:41.920] I could tell you that, and I would be very much for real and not even trying to promote anything.
[00:07:41.920 --> 00:07:48.800] Yes, it's my affiliate link, but also it's Real Deal Holyfield, what works for me and what has allowed my podcast to scale to 10 million downloads.
[00:07:48.800 --> 00:07:50.000] So that makes sense.
[00:07:50.000 --> 00:07:51.120] You understand what I'm saying?
[00:07:51.120 --> 00:07:54.000] It doesn't make sense to say I am an attorney.
[00:07:54.000 --> 00:08:00.240] I want to sell my attorney packages and also my different templates for this and this and that.
[00:08:00.240 --> 00:08:04.080] So I am going to start a podcast all about me and what I do.
[00:08:04.080 --> 00:08:09.680] And yes, I'll discuss different things, but mainly I'm only thinking through the lens of how to promote my business.
[00:08:09.680 --> 00:08:12.320] Boring.
[00:08:12.320 --> 00:08:13.440] Boring.
[00:08:13.440 --> 00:08:16.560] Let's talk about topics that people care about.
[00:08:16.560 --> 00:08:19.760] Let's talk about story-based content.
[00:08:19.760 --> 00:08:24.800] At the end of the day, people pop in a podcast in their ear or they watch a podcast for entertainment.
[00:08:24.800 --> 00:08:27.600] And you think about podcasting, you should think about it.
[00:08:27.600 --> 00:08:30.960] First of all, it's media and think about it like any other medium.
[00:08:30.960 --> 00:08:36.240] When I pop on something on TV, on Netflix, I'm popping it on for a reason.
[00:08:36.240 --> 00:08:44.800] I either want to laugh, cry, be, you know, scared under my covers, or just learn something like through a documentary, right?
[00:08:44.800 --> 00:08:46.240] Or something about business.
[00:08:46.240 --> 00:08:50.960] So, if you think about these different things that people want to do, that's why you should be starting your podcast.
[00:08:50.960 --> 00:08:56.880] And if your business weaves into that organically, the rest will take care of itself.
[00:08:56.880 --> 00:08:59.280] But it's about who you want to talk to.
[00:08:59.280 --> 00:09:00.600] So, let's get into the who.
[00:09:01.720 --> 00:09:09.320] You can't make money if you're more focused on what you want to talk about and the brand you want to build than what your audience wants to hear.
[00:09:09.640 --> 00:09:11.880] Your audience is who matters.
[00:09:11.880 --> 00:09:13.960] Your audience is how you grow your show.
[00:09:13.960 --> 00:09:17.560] Understanding who would listen to this and why do they want to listen to this?
[00:09:17.560 --> 00:09:19.400] And what does that person need?
[00:09:19.400 --> 00:09:24.760] Your podcast exists purely and sincerely to serve that need.
[00:09:24.760 --> 00:09:36.280] And when I use the language serve, sometimes people get a little confused because you're like, well, when I listen and I just kiki and laugh with some of my favorite shows, they're not serving me.
[00:09:36.280 --> 00:09:37.800] They're just entertaining me.
[00:09:37.800 --> 00:09:39.800] Yes, that is service.
[00:09:39.800 --> 00:09:41.080] Yes, that is service.
[00:09:41.080 --> 00:09:41.720] Why?
[00:09:41.720 --> 00:09:43.880] Because life is hard enough.
[00:09:43.880 --> 00:09:46.760] We need moments of pure laughter.
[00:09:46.760 --> 00:10:02.280] And so that podcast that's just humorous or just lifestyle, pure like veg out, gossip, whatever it is, it's serving the need of giving you stress relief, giving you a moment of joy away from all the seriousness in life.
[00:10:02.600 --> 00:10:06.040] And so that is the same way you have to approach your podcast.
[00:10:06.040 --> 00:10:15.640] So those podcasts that are lifestyle-based or comedy or humor-based, now they're able to make money because they've tapped into what their audience needs.
[00:10:15.640 --> 00:10:17.640] They said, we're going to make a show about XYZ.
[00:10:17.800 --> 00:10:20.200] These are the topics that we're going to cover on the show.
[00:10:20.200 --> 00:10:34.360] We're going to focus on lifestyle as it relates to adulting or motherhood or corporate America while black or just figuring out all these different aspects of life, whether it's finance, health, dating.
[00:10:34.360 --> 00:10:46.000] Once they have told their audience what it's about, they've then given their audience the opportunity to opt in and say, oh, when I need my fix about health and fitness, I'm going to check out that episode and that show.
[00:10:44.840 --> 00:10:51.840] When I need my fix about business and building my funnels and getting my side hustle up and running, I'm gonna go to this show.
[00:10:52.160 --> 00:10:59.120] And once you've let your audience know what they can come to you for, when they're in the mood for that, they're gonna come to you for that.
[00:10:59.120 --> 00:11:09.440] And again, you make money because you're able to then serve your audience with what they need in that context, whether it's a sponsored read or whether it's a service you're then going to provide.
[00:11:09.440 --> 00:11:12.720] Maybe it's a wellness retreat, maybe it's a writing retreat.
[00:11:12.720 --> 00:11:20.640] My podcast mogul student, Lori Tharps, she talks about in her episode on this show, we did a student spotlight for podcast moguls.
[00:11:20.640 --> 00:11:35.920] And she talks about the fact that once she really honed in on the fact that her audience were writers, fellow writers, BIPOC writers who were trying to figure out this world and how to make money, because you know what they always have the cliche of starving artists.
[00:11:35.920 --> 00:11:39.280] Like it's not easy to be a writer and to figure out how do I actually make money.
[00:11:39.280 --> 00:11:44.080] And she's written tons of books and ghosts written tons of books and she knows how to make money.
[00:11:44.080 --> 00:11:45.360] So she said, you know what?
[00:11:45.360 --> 00:11:48.800] Not only do I enjoy talking about this, but I also want to help people.
[00:11:48.800 --> 00:12:02.640] So now, boom, you have awesome content that people are opting to listen to because these writers, her audience, they want to become better writers and they want to become better business-minded writers.
[00:12:02.640 --> 00:12:09.120] And she is able to also sell services like her retreat that's actually helping them.
[00:12:09.120 --> 00:12:16.720] So many times people they hear the word sell and that's why I use it so frequently, especially in this episode, and they get weirded out by selling.
[00:12:16.720 --> 00:12:19.760] Everybody needs to sell in order to make money.
[00:12:19.760 --> 00:12:21.440] Selling is not a bad thing.
[00:12:21.440 --> 00:12:31.320] Selling people false promises or selling people things they don't need is a bad thing, but selling people something that they want or need is a good thing.
[00:12:36.680 --> 00:12:42.120] So now let's get into the next thing that might be hindering you from making money.
[00:12:42.120 --> 00:12:44.360] And that is, you don't have a content plan.
[00:12:44.360 --> 00:12:45.240] You're just winging it.
[00:12:45.240 --> 00:12:46.200] You're just out here.
[00:12:46.200 --> 00:12:48.760] You said, I got the vibes to start this podcast.
[00:12:48.760 --> 00:12:50.760] And every week you're inspired by something else.
[00:12:50.760 --> 00:12:51.960] Oh, maybe I should talk about that.
[00:12:51.960 --> 00:12:53.640] Oh, maybe I should talk about this.
[00:12:53.640 --> 00:12:59.400] You have not sat down and thought through what your episodes will be for the rest of this year into next year.
[00:12:59.400 --> 00:13:05.080] I like to map out, even if it changes, what a full year of episodes could look like.
[00:13:05.080 --> 00:13:11.640] And if I can't get to a full year, then what the next six months of episodes would be called and what topics would I want to focus on.
[00:13:11.640 --> 00:13:26.360] And once you do that, that is your blueprint, your guide for helping you navigate who you reach out to, what you outline, the things that you research to bring information back to your listeners.
[00:13:26.360 --> 00:13:28.280] You can't just be out here winging it.
[00:13:28.280 --> 00:13:38.360] So winging it with your podcast is akin to, have you ever seen how much fitness content we get inundated with on social media?
[00:13:38.360 --> 00:13:43.240] And if you aren't careful, you're like, oh, I'll do that workout today.
[00:13:43.240 --> 00:13:44.840] Ooh, that one looks cool for abs.
[00:13:44.840 --> 00:13:46.840] Let me do that ab workout tomorrow.
[00:13:46.840 --> 00:13:53.000] And because you're dibbling and dabbling and you didn't take the time to even see, okay, what's this person's program?
[00:13:53.000 --> 00:13:55.880] I know I can't spot reduce any area of fat.
[00:13:56.040 --> 00:13:58.120] So why am I dibbling and dabbling?
[00:13:58.120 --> 00:14:01.800] I need to truly say, all right, this is the program I want to do.
[00:14:01.800 --> 00:14:06.760] I want to focus on strength training, or I want to focus on cardiovascular, whatever it is.
[00:14:06.760 --> 00:14:13.880] You have to spend at least 21 days or even more than that focused on a program.
[00:14:13.880 --> 00:14:15.520] You can't just dibble and dabble.
[00:14:13.960 --> 00:14:22.400] Similarly, with podcasting, you can't just dibble and dabble in your content because it will be unfocused and it will look unfocused.
[00:14:22.720 --> 00:14:34.480] And what will happen is someone may tune into an episode, but then they'll click over to your full show overview with all your episodes and they'll be like, This was a cool episode, but this podcast is not really for me.
[00:14:34.480 --> 00:14:38.000] One week, she's talking about investing Bitcoin.
[00:14:38.000 --> 00:14:39.760] The next week, she's talking about motherhood.
[00:14:39.760 --> 00:14:42.080] The next week, she's talking about influencing.
[00:14:42.080 --> 00:14:43.600] It's just all over the place.
[00:14:43.600 --> 00:14:49.840] So, I might every once in a while dibble and dabble, but I'm not going to be a subscriber because I don't think this is for me.
[00:14:49.840 --> 00:14:51.360] I don't know what the show is about.
[00:14:51.360 --> 00:15:06.560] You want people to not only listen to your episodes when they come across it, but also go over to the overview of your show, immediately understand, immediately see themselves, and then say, Oh, I want to subscribe because I want to make sure I'm notified when the next episode drops.
[00:15:06.560 --> 00:15:10.800] So, that's what happens when you have a clear content plan.
[00:15:10.800 --> 00:15:13.040] So, you see what I'm saying with these fundamentals?
[00:15:13.040 --> 00:15:19.200] These are fundamental things that podcasters overlook, and then they get further down the line.
[00:15:19.200 --> 00:15:22.240] They're a year in, six months into making content.
[00:15:22.240 --> 00:15:30.080] And because all these things were not optimized and built strategically, they're wondering, Hey, why am I not making money?
[00:15:30.080 --> 00:15:34.800] You're not making money because people don't know what your show is about, who it's for, or what you do.
[00:15:34.800 --> 00:15:39.120] And so, why would brands pay you, or why would people pay you, right?
[00:15:44.480 --> 00:15:49.520] Now, let's talk about the last four things that prevent you from making money.
[00:15:49.520 --> 00:15:54.960] So, number five is you're not marketing your episodes well enough.
[00:15:55.280 --> 00:16:03.800] Marketing is exhaustive, you should feel spent, you should spend time sitting and thinking through your marketing plan.
[00:15:59.840 --> 00:16:06.760] It's not just putting up a quick graphic, hey, new episode.
[00:16:06.920 --> 00:16:12.200] It's not just sending a quick email, it's an overall cohesive plan.
[00:16:12.200 --> 00:16:23.400] So, you need to market your episodes well enough so that your show can grow, your listener base can grow, your regular downloads can grow if you hope to monetize your episode based on downloads.
[00:16:23.400 --> 00:16:25.640] But we'll get to that in a second.
[00:16:25.640 --> 00:16:33.960] And in addition to not marketing your episodes well enough, you are not marketing your episodes consistently enough.
[00:16:33.960 --> 00:16:35.720] Oh, this is gonna rustle some feathers.
[00:16:35.720 --> 00:16:36.360] Is it Russell?
[00:16:36.360 --> 00:16:36.680] I don't know.
[00:16:36.680 --> 00:16:41.160] Sometimes I get my words mixed up, but it's not just one post, friends.
[00:16:42.680 --> 00:16:44.520] It's not just one post.
[00:16:44.520 --> 00:16:51.160] So, when you see me just posting one or two posts for an episode, that's based on bandwidth.
[00:16:51.160 --> 00:16:55.560] But that's not how I started out and grew Side Hustle Pro to 10 million downloads.
[00:16:55.560 --> 00:17:08.040] I grew Side Hustle Pro to 10 million downloads by making sure you could not come across my social media profiles without knowing that Nikayla has a podcast called Side Hustle Pro, and this was the last person she just interviewed.
[00:17:08.040 --> 00:17:16.520] Every single time an episode drops, you have to treat it like it's the first week, like you're launching your podcast.
[00:17:16.520 --> 00:17:21.960] I'm talking about you get real estate on every single social media platform that makes sense for your audience.
[00:17:21.960 --> 00:17:25.640] I'm not telling you to go on Pinterest or threads if that's not for you.
[00:17:25.640 --> 00:17:26.600] Don't stretch yourself.
[00:17:26.600 --> 00:17:36.760] But the main one, the core powerful social media platforms that are still thriving: yes, Facebook, yes, LinkedIn, yes, Instagram, yes, Twitter, yes, TikTok.
[00:17:36.760 --> 00:17:37.520] All right.
[00:17:37.520 --> 00:17:40.200] Make sure that you have real estate on these platforms.
[00:17:40.200 --> 00:17:52.320] And with LinkedIn, it could be just your personal, you don't have to set up a brand page, and then every single time an episode drops, you are posting in a story-based format, a rundown of what that episode is about.
[00:17:52.320 --> 00:17:58.320] If you're doing the video component, which I assume most of you are these days, especially when Riverside makes it that easy, right?
[00:17:58.320 --> 00:18:02.000] So if you're doing that, then you are taking a snippet of your episode.
[00:18:02.000 --> 00:18:03.760] With Riverside, you can do magic clips.
[00:18:03.760 --> 00:18:05.520] So it clips it for you, all right?
[00:18:05.520 --> 00:18:10.000] Or you can do the time codes yourself and say, hey, I want this clip from this part to this part.
[00:18:10.000 --> 00:18:16.240] Make it a reel, post it on TikTok, post it on Facebook, post it on LinkedIn, post it on Twitter.
[00:18:16.240 --> 00:18:18.640] And then also start building up your email list.
[00:18:18.640 --> 00:18:19.840] So start with your network.
[00:18:19.840 --> 00:18:21.440] Say, hey, I'm launching this podcast.
[00:18:21.440 --> 00:18:23.200] Do you want to opt in to get alerts?
[00:18:23.200 --> 00:18:23.760] Cool.
[00:18:23.760 --> 00:18:26.720] Have them sign up to get notified every time you drop.
[00:18:26.720 --> 00:18:34.560] If you're intimidated by email lists, start by doing it manually and then build up, get yourself comfortable with using an email platform such as ConvertKit.
[00:18:34.560 --> 00:18:35.840] That's the one I use.
[00:18:35.840 --> 00:18:37.360] Or you can use MailChimp.
[00:18:37.360 --> 00:18:39.360] You can use any email platform, right?
[00:18:39.680 --> 00:18:43.120] And every time an email drops, send it out to your list.
[00:18:43.120 --> 00:18:43.760] Okay.
[00:18:43.760 --> 00:18:44.800] Send it out to your list.
[00:18:44.800 --> 00:18:46.720] Oh, by the way, use YouTube shorts as well.
[00:18:46.720 --> 00:18:49.120] I don't utilize it enough, but that's about to change.
[00:18:49.120 --> 00:18:52.560] So you need to market consistently and exhaustively.
[00:18:52.560 --> 00:18:57.600] Marketing is not just about the post itself, but it's about amplification of the post.
[00:18:57.600 --> 00:18:59.360] It's continued amplification.
[00:18:59.360 --> 00:19:07.840] It's thinking about it as almost marketing until you're blue in the face because even though you think you're annoying people, they're not seeing your posts.
[00:19:07.840 --> 00:19:09.920] Most people, they're not on LinkedIn every day.
[00:19:09.920 --> 00:19:11.120] They're not on Instagram every day.
[00:19:11.120 --> 00:19:15.360] And when they are on it, they're seeing Instagram is now prioritizing your favorites again.
[00:19:15.360 --> 00:19:17.520] So they're seeing the people they engage with the most.
[00:19:17.520 --> 00:19:21.440] So you have to do a little more legwork to make sure you're getting in front of people.
[00:19:21.440 --> 00:19:23.920] So you have to market consistently.
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[00:19:34.840 --> 00:19:50.520] Say goodbye to Tech Tool Overload and hello to a single unified system that handles CRM, proposals, scheduling, contracts, invoicing, subscriptions, project management, client portals, file sharing, marketing, and more, all in one place.
[00:19:50.520 --> 00:19:58.360] With Sweet Dash, you'll enjoy one consolidated platform to streamline your business, saving you time, money, and sanity.
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[00:20:04.680 --> 00:20:08.040] And the real kicker, unlimited users and clients.
[00:20:08.040 --> 00:20:14.040] Invite your team, clients, and contractors without ever worrying about added fees.
[00:20:14.040 --> 00:20:18.360] But Sweet Dash isn't just about software, it's about community.
[00:20:18.360 --> 00:20:22.520] Their roadmap is powered by user feedback and live support sessions.
[00:20:22.520 --> 00:20:25.800] In short, you're never alone on your journey to success.
[00:20:25.800 --> 00:20:40.120] Sweet Dash has earned the business of tens of thousands of companies and collected over a thousand five-star reviews on Captera and G2, proving itself as the trusted platform to help your business grow and succeed.
[00:20:40.120 --> 00:20:44.520] You can try it free at sweet-com slash sidehustle.
[00:20:44.520 --> 00:20:51.480] That's S-U-I-T-E-D-A-S-H.com backslash sidehustle, all one word.
[00:20:51.480 --> 00:20:57.880] Sweet Dash, one login, one platform, one monthly payment, unlimited potential.
[00:20:57.880 --> 00:21:02.520] If you've shopped online, chances are you've bought from a business powered by Shopify.
[00:21:02.520 --> 00:21:05.640] You know, that purple shop pay button you see at checkout?
[00:21:05.640 --> 00:21:09.560] The one that makes buying so incredibly easy-that's Shopify.
[00:21:09.560 --> 00:21:16.640] And there's a reason so many businesses sell with it because Shopify makes it incredibly easy to start and run your business.
[00:21:14.840 --> 00:21:25.120] Shopify is the commerce platform behind 10% of all e-commerce in the U.S., from household names like Mattel and Gymshark to brands just getting started.
[00:21:25.120 --> 00:21:33.680] Shopify gives you that leg up from day one with hundreds of beautiful ready-to-go templates to express your brand style and forget about the code.
[00:21:33.680 --> 00:21:39.200] Tackle all those important tasks in one place, from inventory to payments to analytics and more.
[00:21:39.200 --> 00:21:44.320] And spread your brand name with built-in marketing and email tools to find and keep new customers.
[00:21:44.320 --> 00:21:50.080] And did I mention that iconic purple shop pay button that's used by millions of businesses around the world?
[00:21:50.080 --> 00:21:54.000] It's why Shopify has the best converting checkout on the planet.
[00:21:54.000 --> 00:21:56.080] Your customers already love it.
[00:21:56.080 --> 00:22:00.640] If you want to see less carts being abandoned, it's time for you to head over to Shopify.
[00:22:00.640 --> 00:22:07.280] Sign up for your $1 per month trial and start selling today at shopify.com/slash hustlepro.
[00:22:07.280 --> 00:22:09.760] Go to shopify.com/slash hustlepro.
[00:22:09.760 --> 00:22:20.560] Shopify.com/slash hustle pro and then let's get into the actual money piece of this.
[00:22:20.560 --> 00:22:28.400] And I'll go back and make sure that I shared tips as well because I know I was talking about the problem, but I want to also make sure you know and understand how to fix it.
[00:22:28.400 --> 00:22:36.320] So, number seven is you're only focusing on traditional podcast sponsorships and not thinking outside the box.
[00:22:36.640 --> 00:22:51.360] What I mean by traditional podcast sponsorship is that typically I would say definitely before the top of this year, when there was a big iOS shift that really tanks a lot of people's downloads, I talked about this in my episode about relaunching Podcast Mooguls 2.0.
[00:22:51.680 --> 00:22:54.480] So, there was a big shakeup in the podcast industry.
[00:22:54.480 --> 00:23:05.080] And so, now I honestly, I am not focused on download-based sponsorships alone because that is a losing game because you don't have enough control in that.
[00:23:05.400 --> 00:23:11.000] You need to focus on what you can control, which is multi-channel sponsorships.
[00:23:11.000 --> 00:23:27.800] So if you have less downloads and you've done all the fundamental steps that I talked about and you still have lower downloads, so lower meaning like maybe you have under a thousand per episode, you know, just like not thousands and thousands of downloads each and every month, you can do a couple things.
[00:23:27.800 --> 00:23:32.840] You need to be thinking about packaging, packaging, and then pitching.
[00:23:32.840 --> 00:23:42.680] So packaging, what you can provide a sponsor, you can provide maybe Instagram, a TikTok, and then an email, a dedicated email, right?
[00:23:42.680 --> 00:23:47.560] Or you can bring someone on as your launch sponsor if you haven't launched yet.
[00:23:47.560 --> 00:23:51.480] Or you can have someone opt in to be a premiere.
[00:23:51.480 --> 00:23:55.880] You can have packages as far as platinum, silver, gold sponsorship, what have you.
[00:23:55.880 --> 00:24:02.200] Offer them a really good bulk deal, kind of like a wholesale deal of all your episodes.
[00:24:02.200 --> 00:24:11.480] But this is something that you have to be really serious about podcasting to do because you have to make sure that you are definitely going to hit all the episodes that you promised them in this package.
[00:24:11.480 --> 00:24:18.360] But if you think outside the box, you think of different ways to get paid on the sponsorship side.
[00:24:18.360 --> 00:24:24.360] And then also you can think about different ways to sell services or sell products.
[00:24:24.360 --> 00:24:28.920] So you know how we talked about what you want to be known for.
[00:24:28.920 --> 00:24:37.400] Now that you want to be known for that thing, how can you take what you know and offer it as a service?
[00:24:37.400 --> 00:24:39.240] So, back to my example of Lori.
[00:24:39.240 --> 00:24:41.160] Lori started out by one.
[00:24:41.160 --> 00:24:44.200] She wanted to first and foremost quit her job.
[00:24:44.200 --> 00:24:47.600] She was a tenured professor in Philadelphia, I believe.
[00:24:47.840 --> 00:24:55.040] Tenured professor just got tired of that kind of track and said, I really want to move to Spain with my family.
[00:24:55.040 --> 00:24:56.000] What would that look like?
[00:24:56.000 --> 00:25:03.520] You know, paying off debt, saving, and being able to support myself in this totally new country.
[00:25:03.520 --> 00:25:06.560] So, she then started to think of revenue streams.
[00:25:06.720 --> 00:25:15.840] She's already has a revenue stream as a ghostwriter and as a writer, but how could she opt that even more and have the podcast pay for itself?
[00:25:15.840 --> 00:25:19.760] Well, there are people who are listening to the podcast who want to do what she has done.
[00:25:19.760 --> 00:25:22.560] So, it's like, okay, why don't I teach you how to do that?
[00:25:22.560 --> 00:25:28.240] And some of you guys, you might not want to do a course, you might not want to do these traditional things.
[00:25:28.560 --> 00:25:29.440] That's okay.
[00:25:29.440 --> 00:25:31.280] Think about what would feel good for you.
[00:25:31.280 --> 00:25:41.920] Would a weekend getting together in a small group feel good for you to just like have people come, you download to them everything you know, and they leave feeling like, Yes, I got everything.
[00:25:41.920 --> 00:25:43.760] Um, sometimes I think about that, right?
[00:25:43.760 --> 00:25:48.080] I really like for people to get everything they want out of me.
[00:25:48.080 --> 00:25:55.200] So, you come with your questions, make sure you know what you really want from me before we have coaching, and then you come and I will tell you it all.
[00:25:55.600 --> 00:25:57.600] You want to know my numbers, you want to know what I said when I paid?
[00:25:57.600 --> 00:25:59.280] She's like, Sure, here you go, here you go.
[00:25:59.280 --> 00:26:01.120] I want you to be happy, right?
[00:26:01.120 --> 00:26:10.960] So, I could charge, I do charge for that in my coaching, but I could do a weekend and have you know a cohort session come just for a weekend so I don't have to put that together in a new course or something.
[00:26:10.960 --> 00:26:12.320] Think about what feels good for you.
[00:26:12.320 --> 00:26:21.760] So, what feels good for Lori is inviting people to beautiful Spain, countryside, having activities, and then we get down to business.
[00:26:21.760 --> 00:26:30.840] And by the way, I interviewed Lori on the show, and then one podcast mogul that I have in the program who also listens to the show.
[00:26:29.840 --> 00:26:35.800] And then one of my great good friends from business school both went to the retreat.
[00:26:36.120 --> 00:26:37.720] So isn't that amazing?
[00:26:37.720 --> 00:26:43.160] Like, I'm so happy that I can share something with people that they want.
[00:26:43.160 --> 00:26:52.360] But also, when you get clear on what you want to be known for, it's easier for you to tell people what you do and what you're known for.
[00:26:52.360 --> 00:26:54.680] And then it's easy for you to be paid.
[00:26:54.680 --> 00:26:58.680] So, because Lori got so clear, she had been in podcast moguls for a few years.
[00:26:58.680 --> 00:27:01.160] She started with a completely different podcast.
[00:27:01.160 --> 00:27:02.680] It was not targeted.
[00:27:02.680 --> 00:27:04.600] It was called My American Melting Pot.
[00:27:04.600 --> 00:27:06.680] You don't know what it is from the name.
[00:27:06.680 --> 00:27:07.800] You don't know what it's about.
[00:27:07.800 --> 00:27:09.000] You don't know who it's for.
[00:27:09.000 --> 00:27:11.960] You think maybe it's about history or immigration.
[00:27:11.960 --> 00:27:13.000] I don't know, right?
[00:27:13.160 --> 00:27:21.960] Once she got clear and she relaunched a completely different podcast, the Read, Write, Create podcast, then I'm like, Of course, I want to talk to you.
[00:27:21.960 --> 00:27:23.240] Of course, I want you on the show.
[00:27:23.240 --> 00:27:25.400] It makes so much sense to me what you do now.
[00:27:25.400 --> 00:27:27.160] I love how you side hustled.
[00:27:27.160 --> 00:27:32.120] I was able to quit your job, move to Spain, and now you do this all because of your podcast.
[00:27:32.120 --> 00:27:38.280] And because she's clear, she makes money because she told people what she does on the show and they wanted to pay her.
[00:27:38.280 --> 00:27:42.040] They reached out, they hit that link, they signed up for her retreat.
[00:27:42.040 --> 00:27:43.640] That's what you got to do as well.
[00:27:43.640 --> 00:27:46.200] There are many ways to make money podcasting.
[00:27:46.200 --> 00:27:58.760] You can sell merch, you can have a Patreon or some kind of private community where you provide people with extra knowledge or behind the scenes or just bonus content and also other bonuses for a fee.
[00:27:58.760 --> 00:28:05.640] You can sell your own books, you can sell your own courses, you can do retreats, you can do trainings.
[00:28:05.640 --> 00:28:07.720] As I'm saying these things, what excites you?
[00:28:07.720 --> 00:28:08.520] Think about that.
[00:28:08.520 --> 00:28:12.440] And then let's work and get you towards that.
[00:28:12.440 --> 00:28:13.160] All right.
[00:28:19.040 --> 00:28:29.120] And then the last thing, tip number eight, why you're not making money podcasting is you're not making something that people want to pay you for.
[00:28:29.760 --> 00:28:30.800] Don't get mad at me.
[00:28:30.800 --> 00:28:32.640] I'm just telling you why you're not making money.
[00:28:32.640 --> 00:28:33.280] Okay.
[00:28:33.920 --> 00:28:38.480] If you made something and nobody is buying it, then they don't want to pay you for that.
[00:28:38.480 --> 00:28:40.720] Let's go back to the drawing board.
[00:28:40.720 --> 00:28:45.200] Sometimes we overlook what we're good at because we take it for granted.
[00:28:45.200 --> 00:28:53.040] And so now here you are being inauthentic by putting something out in the universe and saying, hey, you can get such and such from me.
[00:28:53.040 --> 00:28:56.880] And people are like, actually, I want to know how you do that thing.
[00:28:57.200 --> 00:28:58.480] I want to know how you do that.
[00:28:58.480 --> 00:28:59.280] Teach me that.
[00:28:59.280 --> 00:29:00.560] I'll pay you for that.
[00:29:00.560 --> 00:29:02.960] And that's kind of similar to what happened to me.
[00:29:02.960 --> 00:29:07.520] I tested out many revenue streams when I started Side House of Pro podcasts.
[00:29:07.520 --> 00:29:12.160] And the thing that I kept getting questions about were podcast questions.
[00:29:12.480 --> 00:29:14.320] How did you launch your podcast?
[00:29:14.320 --> 00:29:15.520] How did you market your podcast?
[00:29:15.600 --> 00:29:17.120] How did you grow your podcast so fast?
[00:29:17.120 --> 00:29:18.720] How did you quit your job to podcast?
[00:29:18.720 --> 00:29:20.160] All these questions kept coming my way.
[00:29:20.160 --> 00:29:21.280] And I said, you know what?
[00:29:21.280 --> 00:29:24.400] I am just going to create a course and break it all down.
[00:29:24.400 --> 00:29:25.520] And so that's what I did.
[00:29:25.520 --> 00:29:28.160] And that's how podcast moguls came to be.
[00:29:28.160 --> 00:29:35.200] So I've had people say, hey, you know, you're Sidehouse of Pro, you promote your podcast Mogul's course.
[00:29:35.200 --> 00:29:41.040] And the Podcast Mogul's course came so organically from my audience.
[00:29:41.040 --> 00:29:43.760] It's not something I set out to do initially.
[00:29:43.760 --> 00:29:48.240] So that just goes to show you what comes from knowing your audience and listening to your audience.
[00:29:48.240 --> 00:29:52.880] Now, I'm not saying everyone that listens to SciHus of Pro wants to start a podcast.
[00:29:52.880 --> 00:29:54.880] By no means am I saying that.
[00:29:54.880 --> 00:29:59.280] However, it's important to tap into the needs that your audience has.
[00:29:59.280 --> 00:30:07.080] So I can serve different needs, especially while I'm figuring out what I want to create to help people in a particular space.
[00:30:07.080 --> 00:30:13.800] So I am still deciding how I want to package my side hustle knowledge, right?
[00:30:13.800 --> 00:30:15.160] Do I want to do another course?
[00:30:15.160 --> 00:30:16.040] Do I want to do a book?
[00:30:16.040 --> 00:30:17.480] Do I want to do retreats?
[00:30:17.480 --> 00:30:18.280] What have you?
[00:30:18.280 --> 00:30:21.640] I'm still working that out, you know, just to be transparent.
[00:30:21.640 --> 00:30:25.240] And as I learn what I want to do, I will share it with you guys.
[00:30:25.240 --> 00:30:33.000] But it's going to make sense because I'm going to listen to my audience and I'm going to take feedback and it's going to be based on what you need.
[00:30:33.000 --> 00:30:36.200] And so that is what you need to do as well.
[00:30:36.200 --> 00:30:46.440] So in order to replace your full-time income and become a professional podcaster like I've done, here are the four things you need to do in sum.
[00:30:46.440 --> 00:30:49.800] Number one, get clear on who your audience is.
[00:30:49.800 --> 00:30:53.160] Number two, get clear on what your audience wants.
[00:30:53.160 --> 00:30:55.160] Step three, create what they want.
[00:30:55.160 --> 00:30:57.640] And four, charge for it.
[00:30:57.640 --> 00:30:59.800] In order to do this, you can do a couple things.
[00:30:59.800 --> 00:31:03.320] You can do calls, which I encourage students to do inside of Podcast Moguls.
[00:31:03.480 --> 00:31:15.240] You could do a survey, reach out to people who are listening, do a call to action right inside of your podcast episodes or in your dedicated emails on social, wherever, and get some information.
[00:31:15.240 --> 00:31:16.120] Get information.
[00:31:16.120 --> 00:31:17.560] Ask people why do they listen?
[00:31:17.800 --> 00:31:19.400] What do they hope to learn from you?
[00:31:19.400 --> 00:31:20.760] What would they want to learn from you?
[00:31:20.760 --> 00:31:22.200] What did they want to buy from you?
[00:31:22.200 --> 00:31:24.520] Sometimes we rack our brain trying to figure things out.
[00:31:24.520 --> 00:31:26.280] And all you have to do is ask.
[00:31:26.280 --> 00:31:28.120] There are people who are willing to tell you.
[00:31:28.120 --> 00:31:29.880] All you have to do is ask.
[00:31:30.200 --> 00:31:35.160] The nuance with this, though, is make sure that you're not too easily swayed.
[00:31:35.160 --> 00:31:38.840] Take information and look for the trends.
[00:31:38.840 --> 00:31:44.360] If you talk to 10 people and one person randomly says, well, I think you're doing this wrong and blah, blah, blah.
[00:31:44.360 --> 00:31:47.360] Don't get too carried away with one person's opinion.
[00:31:47.360 --> 00:31:58.000] Look for trends because people's opinions, they are based in fact sometimes, but most of all, they're just based from their lens and their lived experience.
[00:31:58.000 --> 00:32:06.080] So you have to be careful to collect data, but look for trends, not individual opinions that send you down a rabbit hole in one way.
[00:32:06.080 --> 00:32:10.880] If someone's like, well, you're doing it all wrong and your show, that happens to some of my students as well.
[00:32:10.880 --> 00:32:14.560] Like someone's like, well, your show is too long.
[00:32:15.200 --> 00:32:20.880] And it's like, you might not be my core listener because the people, when I look at my stats, they're listening through this much.
[00:32:20.880 --> 00:32:25.120] Or when I do a short episode, they're letting me know, hey, why is this episode so short?
[00:32:25.120 --> 00:32:29.840] So make sure that you are not just switching up your whole game plan because of one person.
[00:32:29.840 --> 00:32:34.560] So now let's quickly recap again why your podcast isn't making money and how to fix it.
[00:32:34.560 --> 00:32:37.040] Let me go through each step and what you should do to fix it.
[00:32:37.040 --> 00:32:41.600] Number one, you think your podcast needs to showcase every topic under the sun you want to talk about?
[00:32:41.600 --> 00:32:41.840] No.
[00:32:41.840 --> 00:32:47.040] Number one, get clear on the main topic that you want your podcast to be about.
[00:32:47.040 --> 00:32:50.960] Number two, you think your podcast needs to promote every skill and passion you have.
[00:32:50.960 --> 00:32:54.960] Again, get clear on which skill and passions you want to promote.
[00:32:54.960 --> 00:33:00.720] Number three, you're more focused on what you want to talk about and the brand you want to build and what your audience wants to hear.
[00:33:00.720 --> 00:33:04.960] Instead of doing that, get clear on who your audience is and what they want to hear and what they need.
[00:33:04.960 --> 00:33:07.920] Your podcast is in service to them, not to you.
[00:33:08.240 --> 00:33:10.160] Number four, you don't have a content plan.
[00:33:10.160 --> 00:33:11.280] You're just winging it.
[00:33:11.280 --> 00:33:14.400] Sit down, write out your content for the year.
[00:33:14.400 --> 00:33:19.440] Make sure that you are thinking through what your podcast is going to be about, what you're going to cover.
[00:33:19.440 --> 00:33:22.880] Number five, you're not marketing your episodes well enough.
[00:33:22.880 --> 00:33:26.080] Make sure that you are marketing your episodes.
[00:33:26.080 --> 00:33:30.000] And number five, you're not marketing your episodes consistently enough.
[00:33:30.200 --> 00:33:40.120] Make sure that you are marketing your episodes each and every time across all platforms and you're treating every episode like it is the first episode.
[00:33:40.120 --> 00:33:44.680] Number seven, you're only focusing on traditional podcast sponsorships and not thinking outside the box.
[00:33:44.680 --> 00:33:47.400] Think about packages, think about different things you can do.
[00:33:47.400 --> 00:33:53.560] Podcast monetization, it's still a very, very young area, and there's room for creativity.
[00:33:53.560 --> 00:33:54.360] There are no rules.
[00:33:54.360 --> 00:33:58.200] It truly is still the wild, wild west, and things change all the time.
[00:33:58.200 --> 00:34:00.760] So you have to be willing to be flexible and adapt.
[00:34:00.760 --> 00:34:04.520] And then, number eight, you're not making something people want to pay for.
[00:34:04.520 --> 00:34:10.200] Re-evaluate how you're trying to make money and then revisit who your audience is and what they want to pay for.
[00:34:10.200 --> 00:34:15.640] So get clear on who your audience is, get clear on what your audience wants, create what they want, and charge for it.
[00:34:15.640 --> 00:34:24.040] So I'm teaching you how to make money from your podcast without a lot of downloads or a big audience in my next live class happening on July 18th.
[00:34:24.040 --> 00:34:29.800] Register at sidehustlepro.co/slash class and we can get even more into the details.
[00:34:29.800 --> 00:34:33.240] So I'll see you then and I'll talk to you next week.
[00:34:34.840 --> 00:34:37.880] Hey guys, thanks for listening to Side Hustle Pro.
[00:34:37.880 --> 00:34:42.600] If you like the show, be sure to subscribe, rate, and review on Apple Podcasts.
[00:34:42.600 --> 00:34:46.040] It helps other side hustlers just like you to find the show.
[00:34:46.360 --> 00:34:51.000] And if you want to hear more from me, you can follow me on Instagram at SideHustle Pro.
[00:34:51.000 --> 00:34:58.040] Plus, sign up for my six-foot Saturday newsletter at sidehustlepro.co slash newsletter.
[00:34:58.040 --> 00:35:05.480] When you sign up, you will receive weekly nuggets from me, including what I'm up to, personal lessons, and my business tip of the week.
[00:35:05.480 --> 00:35:10.200] Again, that's sidehustlepro.co/slash newsletter to sign up.
[00:35:10.200 --> 00:35:11.880] Talk to you soon.
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