It’s hard to believe the Mr. Thrive Media brand officially opened its doors in October of 2020. Some days it feels like we’ve been honing our craft for years beyond the few that it’s been. Other days, with new ideas coming up and consistent learning opportunities, it feels as though it’s been less than the blink of an eye.
In looking back on the company, we realized it’s time to celebrate our two-and-a-half-year anniversary. We’ve reached a point that not every small business has the fortune to reach. Of course, it hasn’t been due solely to luck. We’ve put in work these past years to see growth and room for even further advancement in the next few years.
The fact of the matter is, approximately 20% of small businesses fail within the first two years. Of the businesses that make it beyond that marker, approximately 45% fail within the first five years. We’re proud and thrilled to have made it two and a half years, and we’re looking forward to what the future of five years with the company may bring.
On October 24th, 2022, we celebrated our two-and-a-half year anniversary. If you’re reading this later on, then know that we’re still celebrating every moment that Mr. Thrive Media is a business you’re turning to for media, podcasting, and marketing support.
The Mr. Thrive Media story so far, as you’re about to read it, is about the business, but it’s also about my journey as an entrepreneur. First person isn’t our usual perspective on the Mr. Thrive blog, but for this story, it’s the perspective we’ll use.
The Mr. Thrive Media Story So Far
Like many startup businesses, my company was conceptualized in the confines of my room. In a small 8×12 flat in Reseda, CA, the idea of turning my hobby and replicating it for businesses was becoming a reality. For the first time ever, before my shift at Dave and Busters in Hollywood, I was seriously considering this drastic pivot.
You see, before anything related to Mr. Thrive Media existed, I was a sound mixer in the film industry. I worked on just about every Los Angeles studio, hustling my way down the 405 and then back through the grueling rush hour traffic of Los Angeles. This routine didn’t include the middle-of-nowhere shoots that took place in the sweltering heat of the Mojave Desert.
This intensive lifestyle was a great launch pad for my contribution to the entertainment and audio world. In that time I met countless eccentric personalities filled with passion and dedication. I found them to be the most interesting figures of my life despite having worked with Gordon Ramsey, Terry Crews, Howie Mandel, and more. So I began to interview my co-workers.
Launching Mr. Thrive Media
My father, Joel Volk, saw the potential in my hobby. One day, he met with me for lunch and pitched the idea of me producing his podcast, saying that businesses like his need shows just the same.
For the first time ever, the idea of a podcast being utilized for marketing and branding purposes became a reality. At first glance, I didn’t see how this was possible. 3.5 years later, writing this blog, I laugh at the naivety of a 23-year-old Chaz.
With a little convincing, I agreed to produce his podcast. When I finally decided to launch this as a business, he agreed to pay me back by coaching my business into something lucrative.
We began by discussing how to structure, brand, and prospect. He guided me through the steps it took to network effectively. He created the introductions needed while I started working to figure out how to make a podcast something impactful and helpful to a business.
How can we make an audio-format listenable and engaging? How can we generate lead generation from an episode? How can we expand on mailing lists? How can we spread brand awareness?
The Mr. Thrive Brand
And what about our very own brand? What could we emulate in our visuals and messaging to help businesses understand that we amplify (literally) their visuals and branding?
For me, the common theme of these questions resided with the idea of starting anew. We needed a visual that was calming and like dawn. Then we needed a symbol. The symbol of a cartoon microphone was too basic.
But my roots in audio were individual to my own experience. I took the symbol of the omnidirectional setting, which looks like an 8, and flipped it into an infinity.
Together these themes were meant to communicate, “We’re starting new with you to create forward-thinking content that helps your business be modern.” Another way to say that is “Mr. Thrive Media is a young multi-media agency positioned to bring a progressive level of communication and marketing to brands,” which is our mission statement.
Mr. Thrive Media Business Growth
Today, we carry out that very mission statement by catering to multiple businesses across the world. No two plans are the same. In fact, our white-gloved approach to marketing and podcasting has shown us just how diverse marketing and podcasting needs are across a range of businesses.
We’re looking forward to continuing to work with our mission statement as our goal. With that goal, we can help more businesses, brands, and types of podcasts forge their own paths. Of course, we’ll learn more about the Mr. Thrive Media brand and business as we go.
Frequently Asked Questions About Small Businesses and the Podcast Industry
As a business and service provider, the Mr. Thrive Media brand covers a lot of ground in what we’ve done with clients and what we’ve discovered about businesses. The combination of a small business and a podcast business means we’ve had a lot of learning opportunities. We’ve grown from each opportunity.
These frequently asked questions are just the tip of the iceberg with what you can learn about small businesses and the podcast industry. There’s always more to learn. If you’re looking to start your own business, you want to work with Mr. Thrive, or you’re simply curious to learn more, our answers to these questions are your jumping-off point.
Why Do Most Small Businesses Fail?
Some of the most common reasons small businesses fail include:
– A lack of capital or funding
– Unsuited management
– A poor business model and plan
– Unsuccessful marketing campaigns
Every business will experience one or more of these situations at some point. To avoid letting them become a problem, learn from these failed situations. A failure is only a negative experience if you go through it and don’t learn anything from it.
How Big Is the Podcasting Industry?
According to Acumen Research and Consulting, the global podcasting market was valued at $13,785 million in 2021. It’s estimated that the industry will reach a value of $153,071 by 2030. The large podcast boom of 2020 may have slowed down, but new podcasts are still springing up every week.
The truly remarkable part of the podcast industry, from a business and listener standpoint, is that you can make a podcast on any subject. If you can talk about it, you can podcast it. If you can find a unique idea, you can craft a successful podcast business.
Is Podcasting Profitable?
Podcasting has the potential to be very profitable. However, it’s not a guarantee. We’ll start this answer by talking about how podcasts can be profitable. Profits can come from sponsorships, sales of premium or private content, affiliate links and sales, and sales of merchandise and other products.
Podcasts can also make money based on where they’re shared online. From YouTube to Twitch, there are options for monetization on different platforms.
Overall, there are podcasts making approximately $50,000 in a month, and some that make a few hundred thousand per episode. There are undoubtedly others that pull in around $50,000 a year. It’s impossible to say how much you’ll make. If you take the right steps, however, you’ll discover how much you can make.
What Makes Small Businesses Successful?
Successful small businesses have several common traits, including:
– Customer satisfaction as a forefront of business planning
– Investments in marketing and advertising campaigns that reach the right audience
– Social media and website strategies focused on driving traffic to the business
– Cost-cutting capabilities
– Software support to limit costs
– Hiring the right employees
Of course, those are the tangible factors that go into a successful small business. Beyond those, to be successful, a small business needs a drive behind it. Whether that’s passion for the business or a future goal, a small business owner needs to have a reason behind their desire for success.
What Are Three Advantages of Small Businesses?
There are many advantages of having a small business. Three of the most rewarding and ever-present are:
1. Independence as your own boss.
2. Room for growth and learning opportunities.
3. Flexibility for customer and business needs.
These three are the core reasons why starting a small business can be so rewarding beyond the financial aspects. A small business gives you the space to find your own business goals and make a difference in your industry. The flexibility of what a small business can do and be gives you consistent room to move upward.
Mr. Thrive Media: Branding and Beyond
We’re looking forward to the next two and a half years and beyond here at Mr. Thrive Media. As we grow our brand, we’d love to share our expertise, as well as our vocal talent, marketing experts, and podcast-producing pros, with you and your business. Whether you’re just starting out, or you’re reaching milestones of your own, reach out today and learn what Mr. Thrive Media can do for you.