Make an Extra $30,000 a Year with a Podcast
Hello. Tim here.
I hope you had an amazing Thanksgiving.
Sponsored
This week's issue is sponsored by Acumbamail.
1. How I'll Make an Extra $30,000 a Year from my Podcast
Since Ethan and I started the podcast, we have been growing in downloads every month.
This last month, we hit just over 30,000 downloads.
That puts us in the top 1% of podcasts. That's a good start, but we want MOOAARRR!
Ready to Monetize
Ethan and I agree that we are not willing to compromise the quality of the show for ads. How many times have you been listening to a podcast, and then suddenly an ad comes on about shaving your balls? and about man-scaping?
No thanks.
What's most important to us is that we take our time and insist on finding the right partners. Regardless, here is our plan.
The Tim Ferris Model
What Tim does so well is he combines all of his media into one ad network.
For instance, when you advertise with him, you get an ad on his podcast, you get an ad in his blog, and you get an ad in his newsletter.
We will do the same thing. This way, it's consistent with maximum value to our sponsors.
The Numbers
Ethan and I plan to charge a $25 CPM.
With 30,000 downloads a month, this means we can charge $750 an episode.
30,000 / 1000 = 30 CMP. 30 CPM X $25 = $750.
But, it gets better, because we are now recording and publishing 2 episodes per week, which means we double the exposure of the show. So the revenue doubles as well.
$750 X 2 = $1500
$1500 a week X 52.14 weeks in a year = $78,210 gross yearly revenue.
Assuming that I spend $18,000 a year in production costs such as editing and management, that means there will be $60,000 in net profit for Ethan and I to split.
$60,000 / 2 = $30,000 a year into my bank account.
I hope you continue to follow the journey. I'm going to document the entire thing on my blog.
2. Bored Elon Musk: How to Build a Business as a Fake Person
In this episode, I sit down with the Twitter avatar, (@boredelonmusk). This is a different type of interview, because BoredElonMusk is not a real person, at least not in the way you think.
He goes by the nickname of Bored, and in this interview, he gives me a behind the scenes breakdown of his digital gaming business and how he uses Twitter and humor to grow his business.
Click here to listen on iTunes and click here to listen on Spotify.
3. Success and Loneliness
November 19th 2022
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This is an important read.
Most of my writing focusing on wealth creation, as I feel that generating wealth for yourself should be one of your highest priorities.
But even I forget about the potential downfalls.
In your road to success, it's imperative that you remember WHY you're working so hard to create wealth for yourself.
What's the point of being rich and alone?
Click here to read the full thread written by Sahil Bloom.
Sponsored
4. AppSumo & Acumbamail
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Trying to keep up with all the new marketing fads can feel like you’re an old dog struggling to learn new tricks. (FYI, there’s a reason that's not a category at the National Dog Show).
Luckily, good ol’ reliable email campaigns are still the top marketing channel with the highest ROI. Plus, you don't have to be a pro at multiple applications to send out captivating emails, create customized landing pages, and track campaign analytics.
5. Two Opposing Ideas Can Both be True
When I first started building my business, I thought I had to stick to a certain idea or philosophy, and every idea that went against my beliefs was WRONG!
Now I know better.
Open-mindedness is key. Click here to watch the video.
6. Move to Mexico?
Last week, I wrote about the Texas Triangle, and how manufacturing is one of the biggest entrepreneurial opportunities of the decade.
It's a complicated scenario, but one of the reasons why Texas is so primed to dominate manufacturing is because of Mexico. Our relationship with Mexico is as such that we will be able to create the labor force and the skillset to compensate for the workers needed.
What's interesting is the relationship is interdependent. American tech workers and entrepreneurs are flocking to Mexico as well.
I think I will create a series on the American / Mexican opportunity, because there is so much to unpack and I can't possibly fit it all into a weekly segment.
For this week, let this chart sink in.
7. How to Turn One Idea into a Content Series
Whether you’re a beginner blogger or a seasoned pro, at some point you’ll want (or need) to write a content series.
Once you’ve persuaded people to keep reading your content, you have to keep … producing content.
So, do content creators ever get to take a break?
Absolutely … if you know how to prepare and schedule multiple pieces of content in advance.
Then you can keep your audience satisfied while you take the necessary down time that will allow you to recharge your creativity.
8. The Cost of Improvement
John Danaher is a world renowned Jiu Jitsu coach as well as a deep thinker and philosopher. This bit on The Lex Friedman podcast is critical to understand.
Click here to watch the video.
9. I'm Thinking About Buying This Company
Check out PlzDM.Me.
What do you think?
Hit reply and let me know.
I will be talking about it in detail on today's pod.
10. Final Thought - "It's All About Owning Assets."
I bought the rights to the Copyblogger Podcast. I am now the owner of the RSS feed, the website, and all the intellectual property, minus the Copyblogger trademark, which is still owned by Copyblogger Media.
Why did I do it?
Because it's an asset.
Never forget the secret to wealth.
As I write my newsletter each week, I love to add bits of advice, philosophy, social media news, and even personal opinions. But, I must never forget the main idea of my brand and my newsletter.
That idea is simple.
If you want to get wealthy, you need to own assets.
When it comes to making money, this is really the only lesson you need to understand. People who dedicate their focus and attention on asset acquisition will always be more wealthy than people who focus on hard work. There are skills to learn when building a business, of course. But there are so many areas where we all waste time and energy trying to get better at things that really don't matter.
This is why I don't believe in being a "creator", because creators are always trying to grab a piece of someone else's pie, rather than owning a pie of their own.
To put it more simply.
As asset is anything that puts money in your bank account. This could be a business, a rental property, the right to a trademark, a piece of Intellectual Property, or even ownership of media or code.
You won't get rich selling your time, you can only get rich by owning assets.
Now look, for some of you, this doesn't matter. Not everyone is motivated by money, which is fine.
But all of us need to work, so while you're working, you might as well be investing in your future at the same time.
The greatest investment you can make is an investment in an asset that will pay you across time.
Love you guys.
Talk to you next week.
Tim