I was a straight “D” student in High School. My 1.7 grade point average was barely enough for them to shove a diploma in my hand and kick me out.
On the other hand, my wife got straight “A's.” She was an honor student and went on to get her degree at a fine private college. As wild as it may seem, we both feel the school system failed.
In my case, I think the system wasn't right for me. I wasn't challenged, so I wasn't interested. For my wife, it was the opposite. She learned that she only needed to memorize the work long enough to take the test and pass. Neither one of us feel like we got much out of school.
In school we're taught that passing is good and failing is bad. There's a huge problem with this. When you pass it means you're doing everything right and there's no need to change. When you fail it means you need to make an adjustment so you can get things right. That's why the only meaningful learning happens when you fail.
Today I'll share some of my biggest podcasting lessons. My hope is that you learn from my mistakes and avoid these failures.
In this article:
- Have you ever heard of Podfade?
- Who do you answer to?
- Don't be a rudderless ship
Have you ever heard of Podfade?
In his blockbuster book, E-Myth, author Michael E. Gerber talks about the drive we have to quit our jobs and create our own business. We watch our bosses work and think to ourselves, “I can do it better.” Then we strike out on our own completely unprepared. We end up unhappy, underpaid, and out of business within a few years. Why? Because we never let go of the idea that we can do it better.
I see this all the time in podcasting. Instead of getting the right team, people buy a course, grab some free software, and think they're ready to go. They don't realize how unprepared they are. Most people burn out before their 10th episode. This phenomenon is so common there's even a name for it – PodFade.
Being unprepared is one of the biggest reasons podcast fail. But it's not the only one. Let's take a look at the second culprit in podcast failures.
Who do you answer to?
One of the biggest problems with podcast is the lack of feedback. Think about it. You're sitting by yourself, talking into a mic, pouring your heart out, and you get no reactions. How do you know if your words are resonating? How do you know if anyone is listening? At first, you'll have no idea. That's why it's so easy to quit.
The cure is simpler than you think. You need some accountability. There are a couple of ways to do this. One way is to hire a team to help you. If you hire a good team, they'll make you stick to a schedule and have deadlines for you. But what if you don't have a budget for a team yet?
The next best thing is to have a co-host or a partner. If you're a person of high integrity you won't want to let your partner down. Once you book your recording sessions and you know they're counting on you, you'll show up. How do I know? Because all the podcasts I've done with partners have been my most successful. Check this out:
- Making Agents Rich with Daring Persinger: 193 episodes
- Ben Settle Show 1 & 2: 125 and 100 episodes
- Off The Chain with Doberman Dan: 233 episodes
Compare those numbers to the shows I did on my own with no accountability:
If we look at the numbers above we could estimate we're 3x more likely to fail at podcasting if we don't have some sort of accountability in place. Now let's look at the last major reason podcasts fail.
Don't be a rudderless ship
Great American motivational speaker, Earl Nightingale said, “A man without a goal is like a rudderless ship drifting at sea. You'll spin in circles without ever getting anywhere.” It's the same in podcasting. If you we have no direction and we don't know where we're going, we'll spin in circles too.
One of the biggest reasons podcasts fail is because the hosts has no measurable goals for their show. That's why we need to know what we want our show to do for us before we record a single word. We covered a lot today, why don't we have a quick review.
The top 3 reasons podcasts fail
There are many reasons podcasts fail, in this article we covered the top 3. When we are unprepared, it's easy for “Podfade” to take hold of us. If we want to increase our chances of having a successful podcast, it's important to have some accountability. Whether it's a co-host, or your team, someone needs to keep you motivated to deliver. Last, a podcast with no purpose is like a rudderless ship at sea. It will go nowhere. Before you record a single word, know exactly what you want your podcast to do for you.
Schools teach us failure is bad. Albert Einstein says, “Failure is success in progress.” Hopefully this article has helped you avoid some of the most common podcast failures.
If you're properly prepared you can reap big profits in podcasting. I recorded short training highlighting 3 ways you can profit from podcasting. Listen to it now at https://thepodcastfactory.com/dwp-030/.
When you're ready to start your podcast and you want the right team in your corner, we should talk. I'll show you how you can lean on our team to get dependable results with your podcast. I'll show you how it works on a short 30 minute call. Book a time that works for you at https://thepodcastfactory.com/start/