Can you make money from doing a podcast?

Podcasts are super hot right now, and for good reason. As our lives get busier, more and more people are looking for passive ways to absorb content. Which makes them both a great opportunity to build an audience and make money online.

And while it takes time to build up a large enough audience to attract advertisers and other ways to earn extra revenue from your podcast, the opportunity presents itself. John Lee Dumas interviews entrepreneurs seven days a week for his Entrepreneur on Fire podcast and now earns over $200,000 a month. John publishes all of his earnings online and has shown that he has earned nearly $13 million since launching in 2012.

The podcast market is constantly on the lookout for new quality content. And luckily for anyone trying to get into it, it's now easier than ever.

Starting a podcast, like creating a YouTube channel or blog, is all about telling interesting stories and building an engaged audience. I probably sound like a broken record now, but you need a niche that interests you and there's already demand. 

Find a list of topics you'd like to talk about, then search the iTunes charts, Google Trends, and other podcast search sites like the cast. market to see what's currently available and popular.

Next, you will need the right tools. 

You can make it as complicated or simple as you want, depending on your comfort with the audio equipment, but at a minimum, you'll need a microphone and software to record your voice. Companies like Behringer, Blue, Focusrite, and others sell studio-quality plug-and-play podcasts you can record today.

Now it's time to plan your show. If you're doing an interview-type show, now you'll want to start bringing in some guests. You can use your existing social network to reach people you already know or are connected with on Twitter or Facebook. You can also go to Medium or Amazon to find authors or experts on topics specific to your niche.

Once you have a list, prepare an outreach email template (as you will do over and over again) that is short and clear with your expectations. Tell your potential interviewee who you are, what your podcast is about, and what you're asking them. Do a few test interviews with your friends and family to make sure everything is recorded in the quality you want and then book your first episode.

If you enjoy learning new software or have experience editing audio, you can edit the show yourself. Otherwise, there are plenty of services you can find that will help you edit and build your show on the spot like UpWork and Fiverr.

Congratulation! You now have a podcast episode ready to be uploaded to iTunes, SoundCloud, or anywhere else and promoted along with the rest of your content!

The final step is to decide how to market and monetize your podcast. The larger your audience, the more likely you are to monetize it. Create a basic website for your show and start sharing episodes on your network. 

When you're ready to monetize, you have several options to choose from:

• Traditional advertising (sponsors)
• Sell ​​your products
• Donations and crowdfunding
• Sell ​​“subscriber-only” content
• Present live shows

Collect information and emails through paid surveys than to be able to make them profitable later.