🖐 Happy Wednesday!

Issue #43 is 862 words— a 3.0-minute read.

What’s Really Happening with Podcasting?

Insider Dylan Schmidt Catches You Up

Building an audience with your microphone is smart business.

Why it matters: Podcast listeners are loyal, and you build a powerful bond with them each time you speak into their ear.

Catch up quick: As founder of Content Clips and host of Digital Creator, Dylan Schmidt bleeds podcasting.

🎙 He wants you to grab a microphone and start talking!

Dylan spoke with me from his impressive West Coast studio on June 14.

He’s sharp, thoughtful, and pulls no punches on the ins and outs of the podcast space.

👇 Here are highlights from our chat.

Erik: How do you see the podcast industry these days? What's trending? What's hot?

Dylan: One of the big changes has been this post-pandemic die-down. This week, I was running the numbers.

We can estimate that there are around 90,000 to 100,000 active podcast hosts. 

Very small compared to other platforms like Twitch, for example, where people will do live streaming.

📊 I was surprised to find out there are 7.2 million active monthly Twitch streamers.

Erik: Dylan, could you give the readers a snapshot of your business model?

Dylan: I would describe Content Clips as a simple, streamlined service for people who want to create content but are too busy with other projects to do so.

Erik: How have you found balancing a business and maintaining your passion for creating terrific content?

Dylan: There's a fine balance with podcasts. The podcaster <must be> interested in what they're talking about and talk about things that are interesting to their audience.

Finding that thread is one of the most important things for podcasters.

You have to be interested in it, but it also has to be relevant to what people want to hear.

Erik: When you brainstorm with clients, do you find there are common problems, or does it depend on the individual client?

Dylan: I see imposter syndrome as one of the main drivers holding people back. You could go live and have people give you feedback instantly.

It's slower with podcasting, which seems to trigger a lot of imposter syndrome in hosts across the board.

Erik: Do you find that podcasting is more or less lucrative than it may have been five years ago?

Dylan: I would say more, but it is not lucrative. It depends on the goal of the podcast.

It's definitely lucrative for those with a wide audience. From what I've been reading, it's dipped a little bit post-pandemic.

Erik: What is exciting about running Content Clips these days?

Dylan: First is ChatGPT and these AI tools. I had a little bit of an existential crisis for six months, or maybe it was 18 months.

I was worried that they would make Content Clips obsolete and that people wouldn't see the value.

Then I realized that there was going to be an opportunity once the dust settled, which I feel like it has.

AI tools always need tweaking.

Just like Canva didn't make all graphic designers obsolete, correct?

I set an expectation with Content Clips that it's going to be high quality, and it's aimed at solopreneurs and businesses that have too much on their plate.

Instead of investing in a whole video editor that they have to train and get up to speed, it can happen instantly.

That's something I don't see AI replacing anytime soon, which makes me smile.

Erik: Imagine you are in front of 100 energetic solopreneurs today. They want one piece of advice from you to start a business that involves podcasting. What do you recommend?

Dylan: The simplest route is to match a solution to the problem, versus trying to create a solution for a problem that nobody has.

When you identify a real problem, it makes everything else easier because the marketing becomes effortless.

When something seems too difficult for too long, that's usually a sign that you should get some outside input from a trusted source or from someone who's done what you're trying to do.

Discover more about Dylan Schmidt here.

1 fun idea:

🖌 🖍I went to a local art exhibit last Friday night.

Each artist was impressive, and, as a collection, I saw new ways to combine color and design.

Art exhibits are prisms for your brain.

They give you angles, light, perspective, and emotion.

You can put that inspiration into your business.

Use it to boost your website, graphics, newsletter, and blog posts.

🔲 Whenever you feel stuck or lack inspiration, stroll around a museum.

I know you’ll find 1 piece that speaks to you, lights a spark, and gets you thinking in a new direction.

Stay curious and keep opening doors.

-Erik