How to Build Sustainable Streams of Income With an Online Show

Move over, P.T. Barnum. Make way, Sarah Bernhardt. Today, anyone can make an income being a headliner thanks to the upsurge in popularity of the humble online podcast.

Though podcasting has been around for more than 20 years, it’s only recently begun to take off. Just how big is the podcast scene? Spotify boasts no fewer than five million titles. Apple Podcasts promises millions as well. And those are just two of the many places to find podcasts to whet your appetite.

Here’s the thing, though: You aren’t relegated to just listening to podcasts. Thanks to the low barrier to entry, you can work your way to the top of the podcasting charts and start earning an online income. Plenty of podcasters with significant followings have hit the big time. Had you heard of Karen Kilgariff and Georgia Hardstark before 2016? Maybe not — the duo’s rise to fame was on the spectacular success of their My Favorite Murder podcast.

In other words, your next side hustle might be behind a shiny new microphone setup. And the hustle could net you a pretty penny. Although not every podcaster gains traction with listeners, many do. If you’re able to monetize your popularity, you can enjoy a sustainable online income stream. Who wouldn’t want an extra few hundreds (or thousands) flowing into your account every month?

What’s the catch? Only that you have to put some measures into place to increase your chances of doing well. You can’t just set up a podcast and hope all goes well. Planning is essential, starting with seven of the biggest podcasting must-dos and must-haves.

1. Name and claim your topic area

Every solid, memorable podcast focuses on a particular subject matter. It doesn’t matter what the subject is — politics, sports, midwifery. Anything goes. You just have to bring some interest and passion to your show.

This is very important and shouldn’t be trivialized. Unless you care about something deeply, don’t make it the core focus of your podcast. You need to be able to create multiple episodes, after all. Therefore, write down what interests you and try not to hold back.

Once you have a bulky list of potential things to discuss on your podcast, start labeling them. Which are most intriguing to you? Which would offer the most opportunities for tangential topics? Are there any that would be easy to get guests for? Eventually, you’ll hit upon something that makes sense — and maybe be a bit provocative like some top podcasters.

2. Research similar podcasts

Guess what? You can’t come up with a great podcast title yet. Sure, you’ve figured out your preferred topic. However, you don’t want to enter a red sea with lots of competition. In order to drive an online income from it, you want your topic to be differentiated in some way. The best way to do that is to know what other podcasts are out there.

Spend a couple of weeks listening to podcast shows with subjects related to the one(s) you’ve chosen. Take notes on what you’re hearing. What’s the show’s format? How do they present the topic area? Hopefully, you’ll realize that there are a few gaps that you can leverage.

For example, let’s say that you want to talk about dogs. That’s a broad subject. Accordingly, you narrow it down to dogs representing larger breeds. But wait: After conducting some research, you see that you’re still not going to stand out with a large dog breed show. Unless, of course, your podcast features some aspect of large dog breeds that few other podcasters are discussing. Maybe it’s end-of-life considerations or training for older large-breed pooches. The objective is to present a fresh spin on your subject.

3. Publish on the right platform

You can go many publishing routes when you’re a podcaster. However, you won’t make as much money if you’re not on a platform that’s going to help you. Not all platforms are built the same, particularly if you’re hosting a podcast to augment your income. Your job is to find one that makes the process as streamlined as possible.

Take ShowPlatform, for example. The site features 35 modules set up to assist with everything from managing guests to building a website. (More on advertising later, by the way.) By investing in an all-in-one platform, you’re making life simpler. You’re also taking the guesswork out of trying to turn on a podcasting income stream.

Ideally, look for software with a free trial period. Even if you don’t actually upload and publish your first podcast during the trial, you’ll have time to investigate. Learn the software ins and outs so you can quickly get your podcast up and running every time.

4. Buy decent equipment

Forget about having to outfit a room in your house with soundproof flooring and walls. And toss the notion that you’ll go broke buying podcasting equipment. Just go for middle-of-the-road tools that you won’t be paying off for months on your credit card. As long as you have a somewhat insulated room — yes, walk-in closets count — you’ll sound decent.

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