3 Ways Entrepreneurs Can Use Podcasts to Grow Their Business

How can entrepreneurs use podcasts to grow their business? In this blog, we will learn how podcasts can be used as a tool for validation, growth, and metrics. We will also learn how to create a Minimum Viable Podcast (MVP) and how to use metrics to benchmark success.

Why is it important for entrepreneurs to use podcasts to grow their business?

Podcasts can be a great way for entrepreneurs to grow their business. By creating or appearing on a podcast, entrepreneurs can reach a new audience and build their brand. Podcasts can also be a great way to connect with other entrepreneurs and business leaders. By appearing on a podcast, entrepreneurs can position themselves as experts in their field and build relationships with potential customers and partners.

Here are the steps you need to follow:
1. Create a Minimum Viable Podcast
2. Focus on the Right Metrics
3. Grow Your Show Through Your Community

1. Create a Minimum Viable Podcast
The first step to creating a Minimum Viable Podcast is to validate your idea. You want to make sure that people are actually interested in what you're talking about, and that you're able to keep their attention. You can do this by collecting feedback from your audience, either through verbal feedback or data. Look at metrics like retention, not just downloads, to see if people are actually sticking with your podcast. If you're able to keep a good portion of your audience from start to finish, then you know you're on the right track. Once you've validated your idea, you can start to build out your podcast.

The next step is to start building out your podcast. You'll need to determine what format your podcast will take, how often you'll release new episodes, and what kind of equipment you'll need. You can also start to put together a list of potential guests and topics. Once you have a good foundation, you can start recording and editing your episodes. If you want your podcast to be successful, you need to promote it. You can promote your podcast through social media, your website, or by emailing potential listeners. You can also submit your podcast to directories like iTunes and Stitcher. The more people that know about your podcast, the more likely you are to get new listeners.

Creating a Minimum Viable Podcast is a great way to get started in the world of podcasting. By following these steps, you can ensure that you have a successful podcast that people will actually want to listen to.

2. Focus on the Right Metrics
The second step to creating a successful podcast is to focus on the right metrics. Not all podcasts are created equal, so it's important to tailor your metrics to your specific show. For example, if your goal is to pay it forward and inspire others, then you should focus on metrics like how many people you're able to reach and how many strangers are messaging you to say that your show has helped them in some way. On the other hand, if your goal is to be one of the best in your category, then you should focus on metrics like your position in

If your goal is to be one of the best in your category, then you should focus on metrics like your position in iTunes' Top 100 Podcasts list and the number of five-star reviews you're receiving. In either case, it's important to have a clear idea of what you want to achieve with your podcast before you start measuring your success.

3. Grow Your Show Through Your Community
After you've created your MVP and gathered feedback, it's time to start thinking about monetization. This can be done in a number of ways, but the most important thing is to make sure you're providing value to your listeners. One way to do this is to find sponsors that align with your brand and audience. You can also create paid content or membership tiers that offer exclusive content or access to special events. The key is to make sure you're providing something of value that people are willing to pay for. If you can do this, you'll be well on your way to sustaining your podcast long-term.

Another way to monetize your podcast is through advertising. You can work with companies to sponsor your show, or you can sell advertising space directly to businesses. The key is to find companies that are a good fit for your audience and that will offer a high quality product or service. You don't want to cheapen your brand by aligning with companies that your listeners don't respect or that offer a subpar product.

Finally, you can also generate revenue by selling products or services related to your podcast. This could be anything from t-shirts to online courses. If you have a loyal and engaged audience, they will likely be interested in purchasing products that you endorse. This is a great way to monetize your podcast without having to rely on sponsors or advertising.

Podcasts can be a great way for entrepreneurs to validate, grow, and measure their business. By following these three steps, you can create a successful podcast that will help you achieve your business goals.