The Hidden Advantages of Building a Podcast Audience

E11: Podcasting has seen continued growth year over year and it looks like the growth is here to stay. I'm here to tell you my top 5 reasons for why everybody should consider having a podcast whether that's for your own business or for your own personal brand.***TOPICS:Podcast Growth Statistics (1:26)Since 2006, there's been a steady rise of Americans who have listened to a podcast in the past. It's grown so much that big media companies are now spending a lot of money to produce podcast-only shows. Most Important Factor for Podcast Success (3:39)The most important factor in your podcast's success is consistency. And what’s the secret sauce for consistency? You genuinely have to enjoy the art of podcasting.Your Own Audience (5:47)Podcasting is owned media. Just like how you own all the email subscriber data if you have a newsletter, podcasting is similar in that it's a platform-agnostic medium that will live in perpetuity. This is very different from platforms like Twitter, Facebook, Instagram, TikTok, and YouTube.Paid vs. Earned vs. Owned Media (6:58)At the top of the funnel, you have paid media. Next level down from paid media is earned media. Earned media is essentially any online word of mouth. Owned media is any online property that you control and is unique to your own brand.Leaving Behind Legacy (9:24)An RSS podcast feed cannot be taken down unless you decide to take it down yourself. First Class Founders will continue to evolve as I evolve as an entrepreneur. I love being able to share my journey and thoughts with an audience in real time.Media Leverage (10:55)There are four types of leverage: Labor, Capital, Media, and Code. Someone can listen to this exact episode tomorrow, or in 10 years. Over time, this exact episode can be listened to over and over again.Monetary Potential (13:02)Subscription-based podcasting can be a great business. There's very little overhead. There's no physical inventory. There's no growing labor cost and infrastructure cost. Once your show grows, you will have predictable recurring revenue.***LINKS:Andrew WilkinsonEpisode 3 - Secrets of CompoundingSupercastJOIN: First Class Founders Premium MembershipDOWNLOAD: Hyper-Visuals For Our Episodes (Free)***FOLLOW / REVIEW:- Follow - Leave 5-star review***CONNECT W/ YONG-SOO:- X- Threads- LinkedIn- Newsletter***First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc. Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more. Episode you might like:Future of Newsletters with Tyler Denk, Founder & CEO at BeehiivFrom Zero to 100K Subscribers: How to Grow Your Newsletter like a Pro with Newsletter Growth Expert Matt McGarry...