School of Podcasting - Podcast Tips to Plan, Launch, Grow Your Podcast

Running Your Podcast As a Business with Steve Stewart

May 12, 2025

In this insightful discussion, Steve Stewart, head of the Podcast Editors Academy and finance expert, shares his strategies for treating podcasting as a business. Topics include the financial intricacies of podcasting and the necessity of tracking every penny to avoid sinking. He emphasizes the 'Profit First' methodology to enhance cash flow and the importance of emotional awareness in financial decisions. With a sprinkle of humor, Steve encourages podcasters to manage their finances wisely and make informed investment choices.

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ANECDOTE

Ray Edwards' Bankruptcy Story

Ray Edwards made over a million dollars annually but still filed for bankruptcy due to unsustainable expenses.
Health issues and operational choices led him to amass debt despite high revenue.

ANECDOTE

Emotions Impact Financial Decisions

Dave Jackson shared his emotional financial struggle during fertility treatments.
Emotions impaired logical financial decisions, leading to living paycheck to paycheck.

INSIGHT

Revenue vs Profit Reality

Earning high revenue doesn't guarantee profit; expenses often exceed income.
Profit margin is vital, and many podcasters overlook how much money they actually keep.

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Money, money, money! Yeah, I know, we’re all rolling our eyes thinking, "Ugh, not another boring finance chat!" But hold onto your wallets, because this isn’t your grandpa’s finance talk.

Our buddy Ray Edwards, a top-notch copywriter, shares a jaw-dropping story about how he made a cool million but ended up in bankruptcy—wait, what? How does that happen?

I spill the beans on my own bankruptcy saga, sharing how emotional decisions can lead us down a slippery slope. And hey, we’re not just here to mope; we’ve got Steve Stewart from the Podcast Editors Academy joining us to sprinkle in some wisdom about putting profit first. Buckle up, because we’re throwing in some sarcastic humor while we unravel the absurdity of our financial choices!

Takeaways:

Ignoring your finances is like playing with fire while blindfolded—eventually, you'll get burned.
Being bankrupt after making millions is the ultimate plot twist—stay alert or face the absurdity!
Don't let emotions rule your financial decisions; logic over feelings keeps the money in your pocket.
Track every penny if you want to keep your business afloat; otherwise, expect to sink!

Companies mentioned in this episode:

Ray Edwards
Steve Stewart
Podcast Editor Academy (get the free download)
Profit First book
Novo (get $40 off once qualified)
Relay
Wave Apps
Acorns
Sofi
Gordon Firemark
Ralph Estepp
Cronometer Fitness Tracker
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