- Ep 398: The Art of Making Deals & Profitable Podcasting with Josh Wilson Elzie D. Flenard III 30:18
Ever wondered how podcasting can be a catalyst for strategic alliances and profitable relationships? Join Elzie Flenard in this enlightening episode with fellow podcaster, author, and commercial real estate capital advisor, Josh Wilson.
A devoted family man and seasoned entrepreneur, Josh unveils his secrets to monetizing relationships and leveraging podcasts for impactful partnerships. With a track record of 10 successful podcasts and iTunes chart-toppers, Josh shares game-changing insights. Shift your focus from vanity metrics to creating connections that fuel revenue and drive success.
Tune in to discover the power of podcasting in building communities, setting clear goals, and amplifying your strengths. Learn how Josh transformed podcasts into revenue-generating ventures and overcame challenges on his path.
09:39 – So, I stopped worrying about the audience. I focused on a community of people. All you need is about 100 people that you serve. And then I would use guests and work with guests to help them in their business, and then I’d introduce them to my community, and then I’d put deals together. And now I’m getting paid from all these different resources. And I get to do what I love to do, is meet people, hear their story, share my testimony about God and about my life, share things about business and help support other people, invest in things. That’s all I do all day. And now I build those programs through my PR firm. And I work with people like you who could do the work much better than me, right? So strategic relationships, strategic alliances, that’s the difference of the podcasting.
13:44 – You always have to try things. You always have to test out new models. And we tried things that I had to give money back, and I said, “Hey, we tried to run this campaign that required me to do this, and I failed. Here’s your money back, and I’m sorry.” So, I think as we’re doing this, some of the skill sets that are transferable is like, focus on your strengths. Focus where you’re good. Focus on the things that drive you. And if you’re just doing this to get an audience, go dance in a bunny suit or something like that. You’ll get likes and comments from there, and hopefully, you make money spinning signs or dancing like that. But if you’re in this game, the podcast game, to grow your business, to make an impact, which you could do both, which I love talking about that, then stop going after those kind of things. Focus on your strengths. Focus on a deliverable. Interview someone that you want to do a deal with. And have something, a very clear path, for them to engage with you.
16:06 – This is a small world. The podcast world is a small world even though there’s millions of podcasters or whatever. I don’t want to be known as a guy who doesn’t show up, doesn’t admit that he’s wrong. I’ve had people that I’ve had to return money back, and they go, “Hey, cool. Let me know when you’re on to the next one,” because I built trust. Maybe that was a $6,000 gig. Next time I bring $10,000, they’ll be careful, but they’ll be open to it. Like, they even said, “Hey, when you’re ready for the next one, let us know.” I built trust, and I try to do that, and I’ve made mistakes, and I try to make them right, but I’m always Moving forward. So, other actionable things, have a plan, try to create a plan. That’s hard for me. So, the process of writing it out, hiring a consultant, having them take a look at it. Have them take a look at your processes and your deliverables. A lot of times, for a visionary, if you just go through that process, you’ll go, “That can make me money,” but I don’t want to do that, so then scrap it.
26:17 – This is where I think, when you’re in your sweet spot, you’re doing what you love for the people that you love, and it’s sustaining you and your family, that’s when I know that I’m in my jam. So, it’s like you can do mission while still making money. That’s kind of like my model. The mission is in the margin. You got to be profitable, or you can’t just hand out money you don’t have. So, why not do something that does both good and good for a cause you believe in. I like leveraging them together. And on the selfish side of it, I was getting help. People were helping me, and it was helping my audience at the same time. So, I love the mission side of media as well.
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