Peanut butter and jelly
Good books and rainy days
Popcorn and movie marathons
When you think of one, the other isn’t far behind. Startups with podcasts are a mix of two highly lucrative, highly attainable business plans. A spectacular 67% of podcast listeners fall between the ages of 18 and 44 (according to Small Biz Genius). Startups that incorporate a podcast into their business plan are more likely to reach that core age range.
Features of Startup Businesses
Startup businesses share some common features with podcasts that boost the potential benefits between the two. Those commonalities are:
These features come together to create the startup culture anyone who has worked at a startup is familiar with. The growth-mindset energy behind startup businesses breeds the perfect energy for a successful podcast. Podcasts thrive on new ideas, consistent energy, and innovative plans to move forward.
10 Advantages of Podcasting for Startups
There’s no doubt about it, a startup business will see direct benefits from including a podcast in the business plan. The question is, what are those benefits? If you’re going to put startup investment funds towards a new venture, you’ve got to know why it’s a good idea.
These 10 advantages of podcasting for startups will show you why your startup should have a podcast. Of course, these advantages apply to any business with a podcast. They are, however, particularly suited to startups. The beginning of a business is the best time to start building habits with these benefits in mind.
10. Low Overhead Costs
The benefit of low overhead costs is one of the most direct financial reasons to start a podcast. Overhead costs are defined as regular business costs that don’t have a direct correlation with the production of a product or service. With that definition, it’s possible to have a podcast with virtually no overhead costs.
The main cost of a podcast comes in the purchase of podcast recording and production materials. Those material costs are typically a one-time cost, and they directly relate to the podcast product. If you’re careful with planning, you could build a podcast with almost no overhead costs, and that’s great for your business budget.
The ability to repurpose a product is key to moving a startup business forward. A podcast fits the bill of content that can be repurposed into blog posts, campaign ideas, and potential product ideas. It all depends on what you talk about on your podcast, and how you drive your business with it.
To plan for repurposing from the beginning, build your podcast with future content and projects in mind. This will also lean into building your brand with your podcast content. Overall, everything on your podcast should have the potential to take your business even further.
8. Easy Accessibility
One crucial step of a startup is to make your business and content accessible to as many potential audience members and customers as possible. The more people you can engage with, the bigger your company will become in the long run.
A podcast is one of the most accessible business features, because all it takes is a willing ear. Listeners can become fans of your business through tuning in on their drive to work or listening as they relax on the weekend. Your podcast can become integrated in their lives with minimal effort on their part.
The convenience aspect of pairing a podcast with your startup is all about the work it will take for you. The things you need to start a podcast are all convenient to get. Of course, working with a podcast production company like Mr. Thrive increases the convenience, to make a podcast an even easier part of your startup to-do list.
The most difficult part of creating a podcast is the initial decision you make in finding a topic. When you’re starting a podcast with your business, however, even that decision becomes easier, because your topic will be in line with your business.
6. Feedback Potential
When you’re venturing into a startup business, one of the most important underrated success factors is feedback from your goal audience and customers. Every great business plan has room for growth. Getting feedback from your customers is one of the best ways you can find unexpected areas for improvement.
A podcast where you encourage listeners to comment, email you, or call in is a great way to invite that feedback. The conversational setting of a podcast leads to an open conversation with your listeners. With that, you could end up with feedback and growth you wouldn’t have found otherwise.
5. Brand Authority Boosts
Increasing brand authority is vital for any business, but it’s especially important for startup businesses. When you can show that your business and brand is an authoritative voice on your chosen subject, you’ll gain loyal listeners and customers. An authoritative brand is a brand that people will put their faith in.
Opening up your community with a podcast is a key way of increasing brand authority. It shows that you’re both sharing information and open to a conversation. Bringing your audience into the conversation and demonstrating both your authority and openness will keep your listeners engaged and draw in a new audience.
4. Building Community
Building up the community around your startup business and podcast is tied to other benefits on this list. However, it holds a singular spot because of how important it is. The best businesses all have a key community that remains active with every facet of the business. When you open up your business with a podcast, you’ll be opening up a greater possibility of a lasting community.
Some of the best ways to build a community around your business involve inviting the audience to actively engage with the podcast. Whether this means comments, calls, or bringing listeners on as guests, it’ll actively build your community for those listeners and all your audience members.
3. Branding Potential
Anything with the potential to build your startup brand is a vital step for brand growth. A podcast is a creative way to craft your ideal brand. From advertising to recurring phrases to social media marketing, every piece of your podcast has the potential to add to your business brand.
To fully take advantage of this benefit, be sure to have a brand plan before you jump into your podcast. If you’re still deciding on brand specifics, the Mr. Thrive team can offer advice on key marketing plans to shape your brand identity.
2. Traffic Growth Potential
Growing your startup business is dependent on your ability to get more people interested in your business. With so many people listening to podcasts these days, the traffic you can bring to your business through a thriving podcast has no limit.
Of course, traffic growth is only half the battle. As you’re building an audience, make sure you’re putting just as much effort into growing the product or service you’re offering. Once your traffic is there, the solid foundation of your startup will keep that traffic and draw in even more.
1. Additional Revenue
Let’s be honest, increased revenue is one of the main goals of every startup business. If you can find ways to make more money, you will. A podcast can be both a way to draw in business, and a profit source in and of itself.
You can monetize your podcast through sponsorships, paid content, or affiliate advertisements. You can also lean on the Mr. Thrive team for monetization support. Our premier podcast production plan will set your podcast up for monetization, to make it an active component of your startup business profits plan.
Frequently Asked Questions About Startups with Podcasts
When you’re venturing into a startup business, or growing your startup with a podcast, there’s always more information to learn. Our answers to these frequently asked questions will help you along the way of learning about podcasting, and about general business best-practices. Whether you’re building your business plan or bulking up a current business, these answers are for you.
Why Should Entrepreneurs Start a Podcast?
Entrepreneurs should start a podcast because so many of the values inherently found in the work of entrepreneurs are also found in podcast businesses. Innovation, brand awareness, and unlimited potential are among the shared values that will give entrepreneurs a leg up in the world of podcasts.
How Do Podcasts Benefit Businesses?
Podcasts benefit businesses by adding to potential revenue streams, traffic growth opportunities, community building, and business ideas. A podcast is an extension of the business, and it can be a stream of additional revenue and business growth. Ultimately, the power of a podcast for a business lies in the ability to bring in business and opportunities.
Do I Need an LLC to Start a Podcast?
Technically you don’t need an LLC to start a podcast, but it’s not a bad idea to start an LLC for a podcast. The benefits of an LLC are personal protection in the case of legal issues, as well as tax benefits. Before you decide to get an LLC for your podcast, consider those benefits and your podcast goals. An LLC could be the right idea for you.
Startups and Podcasts: Start Up Your Podcast for Business Success
The world of businesses and entrepreneurs is multifaceted, that’s for sure. Podcasts are a shared feature of those intertwined worlds, and the pairing was a match made in heaven. As part of your startup, a podcast helps you find and maintain your audience, build your brand, and add revenue to your financial plan.
Mr. Thrive can help you along the way as your build your podcast to fit your brand. Our agency of vocal talent, marketing experts, and podcast-producing pros can take your podcast from an idea to a profitable business plan. Contact us today to get started.