From $120 to $1,000: A Podcaster's Breakthrough Monetization Moment

LinkedIn is utilizing AI to streamline the process for recruiters personalizing messages to job candidates. Now, instead of receiving a generic, copy-and-pasted InMail message from a recruiter - which you would likely just delete - you can expect to find a note curated by AI. Surely we’ll see dating apps adopt something similar soon if they haven’t already, right?!

In today’s email:

• Getting Paid: A recent win from a newsletter reader.

• Harvard: Class is in session and tuition will only cost your time.

• Algorithm: Instagram is sharing how their algorithm works, iHeart is saying no ChatGPT to employees, an 18-year old chinchilla is eating a cookie, and more.

The Invoice Has Been Paid

Just yesterday, a longtime reader shared a fantastic "win" that I have to pass along...

He's been at this podcasting thing for around 3 years.

Absolutely loves it and hosts his own show weekly.

But, he was starting to get a bit down due to the significant amount of time and effort he was putting in... and the growth of his show was steady but slow.

And when it came to monetizing his podcast, it was pretty silent.

He's only made about $120 over these 3 years.

We could wrap up the story right here and it would be fine because, our friend enjoys hosting his show and doesn't do it just for the money.

But, the story doesn't stop here...

He got contacted by someone interested in being a guest on his podcast.

He reached out to me, asking if he could charge the folks who want to promote something on his show.

I responded, "Absolutely! Go for it!"

So what does he do next? Sends them a Paypal invoice for $1,000.

They responded almost immediately saying they would take care of it.

Fast forward to yesterday, and the invoice got paid.

Now, if we're looking at $1,000 over the past 3 years...that won't exactly get you far.

But, I want to emphasize the mindset shift here.

Having made $1,000 by charging someone to be on his podcast, he now knows it's achievable.

He has tangible proof that there are people out there willing to pay to be on his podcast.

Think about how challenging it probably was to earn his first dollar through his podcast.

Now, consider the leap from $120 to $1,000. Years. Effort. Persistence.

But how challenging will it be for him to climb from $1,000 to $10,000?

I'd wager it won't be nearly as tough as that initial $1,000.

Once we have evidence of what we're capable of, we start to really comprehend that anything is truly possible.

P.S. I’m not suggesting that you charge people to be on your podcast. I don’t charge people to be on my podcast. In fact, there are plenty of people who I would pay to come on my show (I never have paid, but I wouldn’t be opposed to it). The main idea is that monetizing isn’t one-size-fits-all…it’s about doing what works for you and your show.

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Going Going, Back Back, to Harvard Harvard

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AROUND THE WEB

📊 Instagram CEO Adam Mosseri released a blog and video explaining how ranking (signals about how popular a post is).

🚫 iHeartMedia is telling employees to steer clear of ChatGPT.

🌐 WordPress (.com not .org) is taking on Substack with the launch of paid subscriptions for its newsletter product.

🍪 Chinchilla just chinchillin eating his cookie

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