Podcasting Your Way Through The Coming Recession [Episode 259]
It's not a question of if but when the next big economic downturn hits and it's a certainty that podcasting will be impacted acted when it does so here four things you need to do right now to survive the next crash. Hello and welcome to another podcast pontificate with me. Yvo Tara I- podcasts. At my way right through that two thousand thousand eight financial crisis yet but don't think I'm some sort of financial genius. I'm also the Moron that bought a gigantic house. I couldn't afford at the height. Light the mortgage bubble so no economic advice coming from me because clearly. I can barely balance my checkbook as anyone balancing checkbooks anymore evolved no the topics I want to get into a surviving the coming recession for your podcast have more to do with positioning positioning yourself. Now before it hits Oh and by the way. I'm not predicting this hits next week next month. Now that not prediction not a prediction. Just simply the ability to look backwards and say every ten years or so we get into recession. So there's going to be one coming and it's going to have some big implications so again. Don't take advice for money from me but you know we're going to focus on things different than money. I mean clearly. Clearly if your podcasting casting efforts right now are propped up by money from other people sponsors advertisers patrons the Big v C dollars if that's your situation and you couldn't podcast without those monies. Well you know. ECCONOMIC downturns are problematic for you and I get it so and I'm not here to offer advice about that other than you know just like any good financial the plan would tell you you might WanNa have some money in reserve. If you're living hand to mouth with your podcast efforts and you just have the funds that come in each month and let you do the next month. Well that's kind of problem. You Might WanNa put some money in reserve so that you can do it for a few more months when and if these troubles do actually hit but again I'm not here to offer Advice in the financial sort I m instead here to offer advice practically things that you can do to prepare yourself afford the coming crashing. There are four things I want you to think about and make sure you were doing number one diversify your content kinda similar supposed to diversify your financial portfolio diversify your content diversify the content content that you make one if your eggs are all in one basket one podcast. You're doing diversify that content. They do other things. Do I mean make other podcasts. Yet probably do mean make other podcast. You can probably do that. Relatively let's illustrate for. Do you know how to make one man. I'm doing a show four times. The show that puts episodes out four times a week. I have other podcasting projects. You you likely Cantu the reason to diversify your podcasting. Content is well the reason you've diversified portfolio when the recession comes. It's going to hit different shows. Disproportionately it will not be. Even though the more different things you are doing in podcasting testing whether that's hosting your own show or that's doing some work for other people or offering some strategic services. Whatever diversify the content you produce so that you you can have a better chance that one or more of those won't be as negatively impacted when the recession hits number to diversify no not diversify differentiate? Your content. I don't know if you've looked but there are a lot of podcasts. Out there now doing the exact same thing in almost the exact same style with the only difference is the person claiming to be the host when the recession recession hits. A lot of those are going to go away. A lot of those differentiated by those undifferentiated shows at all seem alike are going to drop away. Oy Now on the surface that sounds like a good thing because if instead of three thousand one hundred fifty. Two entrepreneur interview shows there are suddenly seven. It's a big big drop Yvo although you might and yours one of the seven that survives you might think great more chance of that show being there. I totally get that but also understand and something that differentiating your content is for the new wave of listeners. That will be coming into the world of podcast listening. When the recession happens it happened in two thousand eight? We had a huge wave of new listeners. Come who were turning podcast to do. Because they had free time on their hands number one and number two they were using as a learning service. So I want you to start thinking about the content you can create. That is different different than what you're doing right now. That other people are doing. That might be supportive of that new wave of people who turned to podcast for alternate information Russian. A new way of doing things learning whatever it may be differentiate your content so a it might survive that calling but also that you are making it attractive to New People doing new things with this new way. That's going to bring a new opportunity. Gobi new things to talk about. I promise you that third thank understand your stack. That's the stack of how the whole process is done. If you're relying on other people like my clients relying on me to do your podcasting remember when the recession hits one or more of them will likely be impacted to the point where they're not doing anymore and if one of the cogs in your machine one of the links in your chain pick. Your metaphor isn't available. Thanks to that recession and the impact. It's made what are you going to do. Can you quickly recover from that. Can you plug another thing into the chain. Can you be the chain gene. That link that cog for awhile until someone else comes along the only way you'll know that is by digging in and understanding your stack. How the whole thing comes together again? You don't need to know necessarily how to do everything but you need to understand all the processes for when you know the bad things happen and the final tip I have for you is start. Networking now network with other podcasters network with other podcast hosting companies network with other businesses. That are in your same Sich in your same industry. Do whatever you can to start networking now one one of the biggest takeaways from the two thousand eight recession one of the biggest regrets. I guess from the two thousand eight recession with these people who got hit completely unaware and didn't have their network built and they had the started over from scratch without access to their work email anymore without that Rolodex that they left on their desk. We had rolodexes in two thousand eight. Yeah totally so start building that network. Now Start Making connections. Get Out of your podcasting broadcasting bubble that you have created for yourself and make sure you've got lifelines out to other people because who knows what might happen. They might get hit. I I need your help. You might get hit. I need their help. You might all act as an early warning system to say. Hey things are happening when you to react to this quickly so that we're not negatively impacted or we limit the risk as much as we possibly can begin your networking now and remember. It's not a question of if the next recessions is coming sequester question of win. I'm not here to predict it. I'm not here to say it's coming next week. I'm just saying that if you want to survive the next recession you want a podcast your way through it. Those four tips will help you get there now three things if you could quickly I'll let you go one. Go to buy me a coffee dot com slash. Ebo Tara so I can start patting my. Oh No no no it helps me keep the show going because I know people care enough about it to support the program financially. Even if it's a couple of bucks a month simple also rate this podcast dot com slash pod pont. Thanks to the people that have been using that I love it. It's a cool system. It's the easiest way arrate any show rate this one at rate this podcast dot com slash pod pot. And finally. If you're in business and you need help with your podcast or wondering. What a recession it does to your podcasting efforts well let me come in and talk to folks and find out what we can do about that get in touch with me? Yvo At podcast launch DOT WPRO or go to simpler media dot pro to see a list of the services. We're currently offering clients off on Friday so have a great weekend. I will be back back here on Monday with another podcast quantifications cheers.