[Updated] When it comes to making money and discussing developing a business growth strategy, I went to Libsyn podcaster Tiffany Grant, host of Money Talk with Tiffany. In her podcast, she offers straight talk on all things money. Her guests offer insight into the best ways to spend, save, invest, give, and think about money. Her mantra? The way out of poverty is ideas!
To that end, we asked her about making her podcast a part of her business growth strategy and how she came to integrate podcasting into her business plan.
Her business is to engage others in financial solutions and offer advice. So, her podcasting arm, which shares ideas/opportunities/possibilities that get people started on business ventures, was a natural fit. Plus, she not only interviews great guests with great ideas but also, a winning personality on air.
How did she incorporate podcasting? Let’s see.
1. Treat your podcast like a business
“When you are just getting started podcasting, you want the best sound,” Tiffany admits, “but you need to consider business spending. You need to create a budget detailing the money you are investing in things like your monthly podcast hosting fee, equipment, subscriptions, etc., and make sure those line items are in your budget — even if you are not making any money.”
Tiffany started with a $20 mic just to “get her flow going.” She didn’t upgrade until she was sure that the investment in a better mic would feed her goals as a podcaster, funding outreach to more potential clients.
Then, she turned to exactly how podcasting was going to serve her business goals.
2. Know your why
“If you don’t know WHY you are in business, WHY you are podcasting, it will be hard to stick with it,” says Tiffany. She focused on her desire to offer listeners ideas that might inspire them to make money in ways they never considered.
In this episode, Tiffany explains her own “why” for publishing Money Talk with Tiffany and exactly how she is trying to communicate to listeners, what niche content she brings them that they can’t get anywhere else.
The “why” also puts your purpose and passion at the forefront, so you can always return to:
What problem are you trying to solve with your podcast?
In this episode with Kevin Palmieri, host of Top 100 Global Podcast “Next Level University,” he talks with Tiffany and reiterates that the Why is the most important first step and stresses the power of consistency. As he says, “It’s easy to sign up for the gym, but hard to go every day!”
Note that Kevin has grown his podcast into a multi-six-figure business! His podcast IS his business.
3. Evaluate business growth strategy based on ROI
“You want to make sure that the money you are putting out is seeing a return on investment and actually helping you grow,” she adds. “Based on this, see if you can cut anything out or add additional sources of income.
“For me, I have increased my twitter presence from one to four releases per week because that directly promotes speaking engagements. I have stopped putting as much energy/money into things that are not forwarding that income goal.”
- Tiffany’s podcast is part of her business model. She has a budget for it separate from her personal budget and actually conducts monthly audits of her expenditures and returns. It feeds her business goals to do more one-on-one coaching and book speaking engagements.
- Tiffany’s “why” comes down to a love of all things financial and desire to spread ideas that inspire and engage listeners to consider opportunities and possibilities to leave financial instability behind. She does this in both her podcast and her paid presentations. People come to her for solutions.
- Then, she regularly evaluates where she is spending money and if that spend is really helping her secure more income-producing speaking engagements and coaching relationships.
Tiffany makes it sound easy. And, it can be, but you must start off with a goal, know your why, and evaluate your choices. Now, go make it happen!
Learn more when you listen to Money Talk with Tiff and check her out on Instagram, TikTok, YouTube, Facebook and Apple Podcasts!
It’s well worth it!