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Podcast Monetization: 9 Ways to Make Money Podcasting - YouTube
Channel: Pat Flynn
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so you're thinking of starting a podcast
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or maybe you already have one great well
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how do you make money from that podcast
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well very popular way to make money from
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your podcast is through advertising but
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it's not the only way to do it now
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advertising is great you have an
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audience and you have advertisers you
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marry the two and you can get paid for
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that and that's fantastic there's a lot
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of people out there who are doing
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podcasts and making a lot of great money
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in that way a great friend of mine Sean
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Stephenson from the model health show is
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an example who's doing advertising right
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making it sound very organic and his
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shows because he also uses those same
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products and because of that I trust him
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in his recommendations and I get those
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products too it works advertising is not
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always a great strategy because for one
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maybe they'd heard those ads enough and
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they're gonna scroll through hit in that
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15-second button just to get through
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that part or perhaps those products
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don't even align with your audience in
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which case they might not even listen to
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your show so what do you do how many
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other ways are there to make money from
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your podcasts other than advertising and
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sponsorship well in this video I'm going
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to share nine different examples with
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you with real life examples from
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real-life podcasters stick around number
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one digital products digital products
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are products that are electronic and
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they can be distributed in a very very
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scalable way online which is the benefit
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there are a lot of examples of this for
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example ebooks or music software online
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courses those kinds of things one
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example is the fantasy footballers
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podcast hosted by Andy Jason and Mike
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they sell a digital product called the
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ultimate draft kit which they offer to
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their listeners and it allows a person
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to download all the best projections and
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stats and top players for their upcoming
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football draft I probably should have
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got that this year because I didn't do
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so well you buy it gets delivered to you
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via email which is really cool so
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hands-off but also what's really cool is
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they have to do one of these every year
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which allows for even more purchases
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down the road another example is from my
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good friend Rick mulready from Rick
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mulready calm and the host of the art of
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paid traffic podcast he tells a number
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of courses related to how to do facebook
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advertising so if you have a business
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you want to scale or get in front of a
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new audience
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he has courses to help you do that which
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are digital products number two physical
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products for example the physical
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products from the Jocko podcast it's
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hosted by Jocko willing who is a retired
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Navy SEAL and through his podcast he
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actually sells a number of things such
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as merchandise with his podcast name on
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it like t-shirts but in addition to that
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other things that help improve a person
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physically such as
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I'll make a threes and T's and those
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sorts of things now another example in
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this category is the bad dice podcast
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with Ben Curry on this podcast which is
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geared toward war hammer and the war
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hammer gaming community he sells a
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product that is called scenery dice I
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have no idea what that is but it sounds
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a little dicey
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number three affiliate products what our
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affiliate products well instead of
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selling your own products that you spend
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the time and money to create you can
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actually sell other people's products
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and through those recommendations you
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can earn a commission affiliate
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marketing has been one most profitable
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ways that I've been able to generate an
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income online it's great especially when
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you're just starting out because you
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don't need to spend the time to create
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those products and a lot of the stuff is
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already there in the market that you can
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sell and recommend to your audience now
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there's a lot of rules and things that
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kind of go into that so make sure to
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check out the links below in the
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description which relate to some other
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content that can help you relate to
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affiliate marketing if you want to learn
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more about that now it's really cool as
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a podcaster you can do a few things for
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example if you are selling and
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recommending another person's product
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invite that person on your show have
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them talk about how they built that
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product have them build a relationship
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with your listeners that way the sell is
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not even to feel like a sell at all it
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just becomes a natural progression after
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listening to the episode a good example
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of this is when I interviewed the
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founder and creator of convertkit an
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email service provider that I use and
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recommend and full disclosure I'm also
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an advisor for the company now but I
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interviewed Nathan I talked about his
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origin story about how he created this
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product and I did see a noticeable bump
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in affiliate sales for convertkit after
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that episode came out and I still
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referenced it today
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number 4 coaching now the beauty of a
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podcast is that through your voice
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you're able to build a relationship with
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those who are listening on the other end
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and if you offer coaching services
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you're more likely to convert that
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person because they kind of already know
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you they know what kinds of things you
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have to offer what your vibe is like and
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if you offer any coaching services and
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they like you well it's gonna be a good
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fit for example Ben Greenfield from the
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Ben Greenfield fitness podcast on this
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podcast where Ben talks about things
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like digestion biohacking lifestyle
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nutrition recovery all kinds of things
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related to our health he also shares
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that he has a fitness and coaching
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program because you get to know Ben on
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his show and you like what he has to say
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well if you need the coaching you're
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more likely to actually work with him
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fitness coaches lifestyle coaches
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financial coaches coaches of all kinds
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can benefit from having a podcast and if
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you
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actually just offer your services on
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your show you can actually see some
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conversions number five similar because
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it's kind of a service let's talk about
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consulting so instead of coaching a
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person and helping them through some
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tough times or you know helping them
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wrap their brain around something
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perhaps you're actually offering a
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service to accomplish something for
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example Rob and Kari from the Disney
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travel secrets podcast Rob and Kari are
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actually two students of mine in my
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power a podcasting course and the
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podcast is great because it allows them
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to again build a relationship with their
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listeners but also it helps their
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listeners want to work with them to help
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fulfill their Disney dreams with
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building their dream vacation and
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seriously if you want to know the
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secrets related to Disney and how to
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have a great vacation definitely check
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out Disney travel secrets with Rodham
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Karim number six selling your own books
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now yes this does crossover with a lot
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of what we've already talked about books
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can be digital obviously books can lead
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to consulting gigs and coaching gigs but
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more importantly the sale of the book
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itself in happen as a result of your
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podcast what's cool too is you could
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actually as you are writing your book
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use your podcast to help people
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understand that this book is coming out
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to create buzz for it to show people to
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progress as you then build buzz to that
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launch date there are a lot of examples
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of authors utilizing podcast to help
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sell their books as well so a lot of
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examples of people being a guest on
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other people shows to sell their books
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but one person I want to highlight is
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how Elrod who wrote the miracle morning
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in his podcast achieve your goals for
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one it helps people discover his book
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who discovered his podcast first and it
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also helps people who discover his book
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first find his podcast and build an even
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deeper relationship with him two there
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are no hard sales in his podcast which
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is great it just becomes a natural part
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of the conversation because that's what
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he's known for his book miracle morning
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and the tens of thousands of lives that
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he's changed number seven public
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speaking a podcast is an amazing digital
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stage that allows you to launch yourself
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into a potential physical stage I've
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actually been recruited myself to speak
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on stage as a result of my podcast which
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is really cool too if it comes a part of
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your offering the fact that you
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mentioned hey guys you can actually have
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me on stage too if you want well you can
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be like Marc Maron from the WTF podcast
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I've personally seen Marc on stage
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before at different events I've been at
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and he's awesome he's so funny and
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what's really cool he's super
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down-to-earth too now I don't know how
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much he makes from these speaking
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opportunities again as a result of his
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podcast but I would care to guess that
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it's in the five figure range somewhere
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maybe and that's a pretty lucrative day
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so if you want to start public speaking
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you already have a podcast Walt
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mentioned that you do that every once in
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a while maybe you do an episode related
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to some events that you've been to in
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fact that yeah this is something you
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want to do that alone can help plant
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that seed for people to come to you and
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say hey you want to speak at my stage
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number eight putting on your own events
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when you build your tribe with your
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podcast which can and will happen if you
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give it enough time they will want to
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meet each other and you as well and you
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can create some amazing events as a
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result of the tribe that you build the
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way a person consumes the podcast is is
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very much like how a person consumes a
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show they become a fan of the show and
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they want to get more involved with that
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show and one particular show that
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actually had a podcast to go along with
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it is the Walker stalker podcast a fan
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show that was dedicated to the show
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Walking Dead on AMC I actually featured
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the two hosts of the Walker stalker
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podcast on my show in episode 247 of the
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smart passive income podcast and their
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story is amazing as a result of starting
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their podcast again just a fan podcast
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between two guys who love The Walking
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Dead they were able to get some of the
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celebrities onto their podcast and as a
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result of that they were able to start
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putting on conventions not just little
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events with you know a few hundred
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people but literally tens of thousands
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of people come out now and they have
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multiple events every single year the
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big event is in Atlanta where the film
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is where the show is filmed and tens of
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thousands of people show up all the
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celebrities come out people line up to
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get autographs I know because guess what
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I've been to these events before too
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with my wife here's a picture of me with
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a couple of the stars from the show this
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is the characters Darrell and Meegan
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from The Walking Dead and it was just
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such a cool experience to go and hang
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out with the crew there but anyway to go
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back to the story here podcasting can be
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a great way to build a community bring
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them together in an event like fashion
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just like Eric and James did with the
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Walker stalker con number 9 patreon
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patreon is a service tool application
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this thing that exists it's pretty
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awesome because what it does is it
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allows your fans to pledge to yes they
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want to support you for the work that
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you do so just imagine you have a
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podcast and you say hey guys if you want
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to support the show just pledge one
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dollar per episode we come out with one
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Episode a week that's all you got to do
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so think about that one episode per week
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four episodes a month four dollars
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times a thousand times ten thousand
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times however many listeners you have
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who are a fan of what you do you can see
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this can scale and be quite profitable
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to take for example the hosts of the
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daily tech news show a podcast hosted by
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Tom Merritt which has nearly 5000
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backers which total twenty thousand
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dollars plus a month just through his
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fans I also interview both jack conte
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and Tom Mara on episode 188 of the smart
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passive income podcast links below now
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if you choose to set up an account with
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patreon you know there's gonna be some
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people in your audience already likely
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who will be huge fans who will just
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support you anyway without any further
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incentive needed now it's best practice
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to have some other bonuses and other
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items that are unlocked when a person
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becomes a patreon so just think about
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what those things might be before you
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get involved with setting up an account
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so those are nine ways to generate an
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income in addition to advertising and
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sponsorships so if you feel you're stuck
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in the advertising and sponsorship wheel
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or perhaps you want to get involved with
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making money on your podcast but just
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don't want to go down that route or
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maybe even don't have enough people who
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are following you or big enough audience
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well guess what you have a great
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opportunity to potentially make even
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more money through these other methods
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and hey if you like this video thank you
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so much I appreciate it click on the
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like button and also share this I think
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a lot of people would also love to know
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how to generate an income through their
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podcast - and by the way if you haven't
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yet gotten started with a podcast make
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sure to check out how to start a podcast
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com that's my free how to start a
[604]
podcast in three days a mini course
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we'll just walk you through the process
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in just three days house start a podcast
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calm again thank you so much for
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watching this video and before you go
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leave a comment really quick I'd love to
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know what podcasts you're listening to
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so leave a comment below I'm interested
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to find out thanks so much and we'll see
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you the next video
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