85: THE Formula for Profit

THE Formula for Profit

So it’s not really a math formula, per se, but it IS something I’ve been researching, observing, formulating, and then LIGHT-BULBING once I realized a commonality across all successful podcasters and entrepreneurs!

YEAH!

Naturally, I have to share it with you.  :)

The interesting part of this is that some of this is commonly talked about across the board as a strategy to grow and monetize your podcast.  But here’s the thing: putting all of these strategies together is what, I believe, creates success and profit.  I don’t believe most teach all of these things in THIS way.

The other surprising thing is when I ask successful podcasters how they became successful and profited and the response is:

“I don’t know.”

This answer is much more common than you might think.

So here’s the formula I think is the key:

1. Pain/problem that WE have – personal connection
2. Pain/problem we can also solve – knowledge and ability and drive
3. Passion for that topic (is it something we actually WANT to find a solution for, help others with, etc.)
4. Avatar WANTS and knows they NEED a solution
5. Avatar WILLING to “pay” for that solution
6. Able to differentiate yourself with your solution/dominate your niche

Listen in for the expanded discussion!

Links!

• Jodey Smith
• Profitcast Patreon