Is a Podcast a Bad Idea?
I'm 57 minutes deep into an hour-long consulting call when the question I’ve been waiting for is finally asked:
“So I’ve been thinking about the podcast again. And while I want to do it, I just talked to a [a big name in the podcast game], and he says I shouldn’t do one. The field is too big.
Is doing a podcast a bad idea?”
I was waiting for the question because the podcast was something we had discussed repeatedly, but my client had yet to take action.
Today was "A Day." As in action. But in order to help her remove her hesitancy, I had to make something very clear.
I paused for a moment, and said 5 words that ended up making all the difference.
You’re asking the wrong question.
The Broken Formula: Opportunity ≠ Success
Back in 2005 I considered leaving my career in psychology to become a writer. At the time I was living in Denver and I needed guidance by someone walking the walk. I contacted every, and finally was able to set up a phone meeting with one of the biggest sports columnists in the area.
His advice: Writers don’t make any money. It’s a dying field. Stay away.
And that’s what I did…for another 18 months.
Finally I decided that I didn’t care what limitations existed. Suddenly it didn't matter if newspapers were dying, or if the average journalist made $40,000. I went for it for one simple reason:
I knew I could be great.
Not just good and not because of talent. Writing was the type of profession I was willing to pour 100,000 hours of blood, sweet, and red-ink-stained tears. And as much as learning how to write and edit continues to be the biggest ego-killer known to mankind, I love it.
Today, some might argue I’m good at it, too. No one can debate that I’ve made a living off of it, and one that pays me significantly more than $40,000 per year.
The lesson was don’t go where the money or opportunity exists.
Instead, find what you can do relentless, passionately, and better than anyone else. That's when happiness, fulfillment, and the money will find you.
And if there’s competition? Who cares. Competition is everywhere. You won't find a field where it's easy to succeed. You have to earn it.
Is Your Business Out of Position?
So about that Podcast?
Much of what we offer in consulting is not only building smarter business plans but also strategically aligning opportunities and increasing the likelihood of success.
My job is much like that of a football coach: I’m not here to assess talent. Skill is diluted because so many people possess it. But finding the perfect position for someone requires more thinking and increases the likelihood of creating something special.
A running back might be the most athletically gifted player on a football field. But what happens if you took that talent and placed it on the offensive line? That incredible talent wouldn’t look quite so good.
The same can be said for your business.
If you’re not a writer, why are you spending so much time writing?
If you’re not good on camera, why are you doing video?
If the quality of what you do isn’t incredible that’s all that matters.
So when it comes to a podcast, the question isn’t, “Is there competition?”
It’s, “How incredible could you make the show?” What would make it different? What would make it better?
Sometimes the best way to beat the competitive set is to simply do what they do, but better.
Other times it’s to develop a “blue ocean strategy;” find a way to eliminate all competition by creating your own new category or style within a saturated vertical.
That’s where success occurs.
Don’t search for a low hanging fruit. Find something that you can grow that will taste and look better than anything else in the garden.