My Podcast Just Made Money!

Last Update: February 04, 2020

So I started my podcast in January 2019.

And I only joined Wealthy Affiliate and started my website in September 2018!

I genuinely had no idea podcasts could actually make money when I started it (a bit like when I started a "blog" at the end of 2017... although it wasn't really a blog it was just me writing crap on a free wordpress site) am I allowed to write "crap"?... I've just done it twice now so I hope so!

Why Did I Start a Podcast?

The reason I started is kind of selfish to be honest...

I wanted to chat to some people that were making money online... but I didn't want to pay them hundreds of dollars for an hour of their time.

So I put on my big boy pants and pretended that I knew what I was doing and jumped so far out of my comfort zone that I couldn't even see it any more.

(yeah that's me with my very "fancy podcast studio"... #mybedroom)

What's the podcast about?

The first person I had a chat with had earnt $1 million in 5 years from random side hustles and had retired at age 30 living off index funds.

He had got bored after a couple of years of doing anything he wanted and decided to write a book called financial freedom (he was like actually retired not "work on an online business" retired)

It was so cool to chat to him and pick his brains but it must ha

ve been so bad as a podcast!!

Since then, I hope it's got better and I've chatted to:

  • 2 guys who made $240k in their last month from affiliate marketing... their website is dollarsprout. com FYI
  • A blogger who lives on a sailboat and makes over $1 million a year
  • A couple that quit their jobs and went all in with a health and fitness blog to make $100k in one year (they now make $100k + a month)
  • A couple that found a chair in the trash and "flipped" it into $500,000 in one year
  • And more 6 figure online bussiness owners than I can count

Everyone on the podcast is "living life on their own terms".

They are all completely normal people who are living life outside of the "9 to 5" or who are working towards getting there (mainly making money online)

And I find out how they did it, their best tips, what their struggles were and what they would tell themselves if they could go back in time before they started this.

Reality

It may sound cool, and I have certainly learnt soooo much from this... but the reality is that this takes time to do and hasn't really provide any "direct" monetary reward.

In hindsight, it's probably not the best thing to do in your first 4 months of trying a whole new online business out.

But then the other day someone reached out to me and offered me some real money if I could give them a shout out. It was a legit company that fits in line with what Make Time Online is about, so it made sense and...

I'm an insant millionaire!

Well, not quite but it's better than a slap in the face.

I've never even thought about monetising the podcast to be honest but I know some people make serious money from them if they get a good sponsor to work with. Food for thought for the future I guess!

What I've learnt...

Money aside, the stuff I have learnt from doing the podcast is unreal.

Not just from speaking to people and getting the odd free course chucked at me, but it's made me realise how important this whole online journey is to connect with real people.

After all that's the whole point of any business... helping real people and connecting with real people.

Online businesses are no different.

Who is your online business helping?

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EdwinBernard Premium
Your bravado in walking the talk turned out like a lot of fun for you. What a brilliant idea to connect with successful entrepreneurs.

You should write a book on the conversations you had with them, one chapter per person. And share lessons learned with your readers.

Congrats on your earnings. Your reputation precedes you now.;

Way to go Michael.

Edwin
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CassiOfTroy Premium
That is a terrific idea, Edwin!
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mikebeatty Premium
Thanks Edwin, great idea!! I'll add it to the ever growing list but I love it!

How are you doing?
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mikebeatty Premium
100%
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RosellaK Premium
What a great idea, Edwin!
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heidiph1 Premium
That is awesome your podcast is making money!

I have actually listened to several different podcasts from your channel recently. I've been focusing on figuring out Pinterest, so I've been going through your podcasts from last December. I have learned a ton from them! So thank you for doing what you are doing and getting great people on to share their knowledge and experience!

Heidi :)
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mikebeatty Premium
Thanks so much, Heidi! I see that more and more people are listening to them, but it's always nice to actually find out what people like and who they are ;)

Kate Ahl came on recently and shared some insight into the recent updates including how much people should be pinning each day etc.

No 1 Tip... Your pin designs are the most important thing! Quality over quantity all day!
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heidiph1 Premium
I'll make sure I listen to the one with Kate Ahl! It really has been so helpful. I have used Pinterest for years, but not for marketing. It's a whole new ball game!

I'll definitely keep that tip in mind, it makes a lot of sense that people only look at each pin for a second or two and decide whether or not to read any further.

I'll share the podcasts as I go, I think they are great resources for all of us!
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heidiph1 Premium
On a side note, I also like how you ask each person about one thing they would change if they could go back and start with the things they know now.

I used that tactic at a work dinner with my husband tonight, talking to a guy that has been with his company for 15 years. He provided some great insight!

Thanks again!
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mikebeatty Premium
Amazing! I'm so glad they are helpful. That's just made my day :)

If there's ever a topic/ anyone you'd like to hear from then let me know. Equally, if there's anything you would change I'm all ears to feedback... sometimes the "constructive" stuff is needed ;)
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EricaCrystal Premium
Congrats Mike!

You should set up a Patreon account for your listeners next. I know others don't make that much from Patreon, but it will all help:)

I am a Patron to 3 different podcasts as a thank you. For each I pay about $3 each month, and can stop anytime. The cool thing with Patreon, is you get to give your Patrons special bonuses, as an incentive for subcribing.

Good Luck!
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mikebeatty Premium
Wow, I have never heard of that either! Thanks for sharing
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Ropesa Premium
Wow! I am not familiar with podcasts but I am intrigued.

Perhaps something for me to learn in the future. Congratulations 🎉🍾🎈🎊 on your first check from your podcast. I didn’t even know that people do make money with podcasts.

I thought they we used to promote something like a book or a course.
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mikebeatty Premium
Thanks Rose!

Yeah, I think different people use them for different reasons like building a brand/ promoting other stuff they do/ paid directly by sponsors.

As I say the only reason I started was to try and get a chat with some of these unicorns ;)

Turns out I really enjoy it and hopefully, it's helpful to some people!
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CordeliaN Premium
I loved this Mike, you had me totally absorbed. I am so greedy to hear about how these normal people have made a success (made it big) online. Phenomenal and how brilliant you had the courage to talk to these entrepreneurs when you were so new.
Congrats on your PayPal fee.....you are on the way Mike 👍
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mikebeatty Premium
Haha! Thanks Cordelia, I haven't even proofread it so I'm sure there's a ton of mistakes.

I'm working off a new motto currently...
"done is better than perfect"

Thanks for your kind words
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