23- Focus on business goals with your podcast

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From a recent podcast episode by Evo Terra in his show called Podcast Pontifications, we discuss the idea that for many podcasters, their podcast is their business — monetization is king, and revenue streams are important.

Starting a podcast can be exciting. It may energize an entrepreneur or startup, because it could become “the shiny new object.”

Many entrepreneurs or startups may be distracted (especially at the beginning) from focusing their tasks and drive to go toward their business goals. They may end up confusing business goals with podcasting or podcast statistics and goals. But these new podcasters cannot lose focus on their business goals of the entrepreneurship or startup.

As you will hear in this audio episode, we will try to have the small business owner focus on the business goals with the podcast.

Recently, Evo Terra, podcaster for PodcastPontifications.com, gave a four-part mini-series on FOCUS. In one specific episode, he narrowed the topic to: “Focus On Business Goals With Your Podcast.”

The discussion was NOT about podcasting; rather, it was about business goals for the entrepreneur, and NOT to lose the focus on them just because you have a podcast. Instead, it drove the idea that the podcast could assist in your business goals within your focus for success.

Now, Evo Terra has been one of the earliest podcasters in the podosphere. He has been a co-author of two of the first books on podcasting: Podcasting for Dummies and Expert Podcasting Practices for Dummies.

He has also been an entrepreneur with startups and businesses in the high-tech field, as well as podcasting. He sometimes had the nickname of The Disrupter, for he tended to be an experimenter and try different modes of operation to success. But he could still put a focus on monetization of a podcast and looking to meeting and exceeding his business goals.

In his brief audio episode in his podcast show, Podcast Pontifications, Evo has the entrepreneur-turned-podcaster ask himself several questions that drill into the business aspect of the startup, and not the podcast.

Distractions can be many, especially if the entrepreneur is having while podcasting. The focus can usually turn to distractions, such as downloads, subscribers, ratings, reviews, etc. But as Evo states:

“Downloads and increased listener rate of your podcast are NOT BUSINESS OUTCOME. They are tactical outputs. And while very important to success, THEY ARE NOT BUSINESS GOALS.”

As Evo states, focusing on the outcomes of your business (which your podcast actually serves, and NOT vice-versa) requires things in your podcast like supporting results, such as:

Increase retention and acquisition rates
lower operating costs or increase revenues
measurable cultural change

Notice that it is NOT about tracking downloads or feedback from social media. These metrics are tactical outputs. They are not business goals or business outcomes.

Evo continues with the business jargon that should hit the entrepreneur right between the eyes: “But if you really are treating your podcast as a part of your business, you have a fiduciary (another unsexy word) responsibility with your business (or yourself, if you are the business) to treat it as such.”

The small business owner should ask “How will the actual podcast help to support our business goals?” Achieving the outcomes and goals for the company should be the focus. And you should treat the podcast as a tool or supporting element (like a marketing tactic) that can help drive revenues or achieve another business goal which you consider a KSF (Key success factor).

So, while podcasts and the statistics which many use as an indicator for growth may become a temporary distraction, the entrepreneur should ALWAYS remember that a podcast is one of the team members — it is NOT the final goal. It is merely a tool in your toolbox to use on the road to achieving business goals.