Why I Wrote A Podcasting Book

Transcript

building an indie business in the center of venture capital i am alex edmonds also known as supreme rumham on the internet and this is the building and indie business podcast so today i'm gonna be talking about the book and uh specifically why i decided to write a podcasting book uh i'm gonna be talking about i'm gonna be talking about how it's an investment building off the book profitability of the book and other reasons why i decided to write the book so let's get into it investment so i invest my money on occasion and i really don't like having to trade my time for money and the book is an asset it's an investment and it's an investment where i don't have to trade my time for money because i can sell copies of the book but i don't have to uh do anything or like i don't have to be active in selling the book i could go to sleep and someone might buy the book and that way it's not a time for money investment it's also an income investment so instead of me just waiting for the price of the book to go up um the book can bring me income i could have a monthly income from the book instead of getting um ace dividends from a stock investment um yeah and then i have full ownership of the book so if i were to use some money to buy a stock um that stock would only be a slight uh piece of ownership in the company whereas the book is a full ownership i have full ownership of the book and um i have full ownership of all the profits um in the book okay uh there's also the volatility of other investments so when i invest in a stock um it could always go down and almost immediately i have a friend who invested in this one pharmaceutical company and um it was trading at two to three dollars and he went to just go get a cup of coffee and that um that stock dropped down to like a dollar fifty and he had his order at a dollar seventy five to sell and then it shot right back up to three dollars so he lost a bunch of money in 10 minutes with uh the book as an asset um that's not going to happen i'm not going to lose all my money right away um yeah it i will eventually start to lose money not lose money but like the amount of income i would get from a book would decrease as i go as time passes by because there's only so many people that need the book and as um as more people buy the book there's less people that i can sell the book too because some people already have it or they won't be interested in the book so yeah but um the amount of money coming in will not decrease in 10 minutes you know so that's why i think the book is a better investment than investing in the stock market okay another reason why i decided to write the book is i'm able to build off the book so i believe i talked about this in a previous episode about the book but uh rob walling has something called the stair-step model and what the stair-step model is is a um it's like a model for making money on the internet yeah that's it so the first uh step on the stair is um building a one-time purchase product this is the book and then the second step on the stair is building multiple products so you have the book you have a second book you have a course um yeah so you have multiple sources of uh income and then the third step and the final step in the the model is the uh sas so you build a monthly recurring product this is like a podcast host um other software for podcasting okay so yeah i'm able to build off the book i can create a second book that goes into more detail about podcasting um i can build a course that's based on the book i can start consulting uh helping people with their podcast and i can edit podcasts i can just uh set up someone's podcast for them um yeah and then um i'm i have gained skills writing this book and doing all the promotion for this book so i've been learning about seo how to improve the visibility of a blog on google how to set up a book and sell a book on different platforms so i can be a book consultant i guess okay so profitability yeah that's how you say that um so compared to other investments that i can make like um buying a company or not a company but a website right i have that option um doing the book is an easier investment because most of the investment is time right so i haven't put up much capital up front which makes it easier for me to get that capital back um yeah so when your investment is your time you have less barriers of entry for your profitability let's say it like that which is confusing but okay um yeah uh with a book or um a course or anything uh there's less money being spent up front and you're spending the money not the money but what you're investing in is your time wow i've talked about this before you can't get your time back it's still a good investment writing a book um with writing a book there's less risk because you're spent you're not spending as much money and you're gaining skills that you can use this is different from when you're buying a website and you're spending a thousand dollars and you are very unsure if the website will be successful because not only do you want to get your money back but you want to build an income with that website and maybe make ten times what you put in to the website maybe even more and that's very difficult to do that with a book right i have put in less than a hundred dollars as of right now and at twenty dollars um which is right about what the price is of the book right um that's only five copies to get my money back to 10x what i put into the book that's a hundred copies right so no not a hundred fifty copies wait a hundred dollars is five and so to 10x that yeah it's 50 copies i don't know why it took me that long to do the math okay yeah so it's less risk than buying a website or investing in it the money in the stock market okay on the other reasons why i decided to write the book i wanted to create a community resource for the open podcast community and my podcast listeners that's why for open podcast and uh baib listeners the book is free the code that you put in when you're purchasing the book is baib it's in the show notes so this when someone comes to the open podcast community i help them throughout each stage of their podcasting journey so i help them at the beginning and helping them set up their podcast i help them with growing their podcast and then i help them when they're kind of steady in their podcasting journey so instead of having to constantly repeat this information i can just point them in the direction of the book um that way it scales my advice scales because everything is already in the book right um yeah so another reason why i decided to write the book is to create more podcast hosts um more podcast hosts means more people coming to open podcast and i'm able to help more people and get more resources for those people so how um the book creates more podcast hosts is because when someone wants to try something new they look for resources to help them learn how to do something so when someone wants to start a podcast they will search for how to start a podcast book blog whatever and so i'm hoping that my book will show up on google and those people will buy the book and then when they need more help i'm able they will join open podcast and i will be able to help them okay um a third reason why i decided to write the book is because um some people will find the book they will like the book right and that might lead to more opportunities for me personally they might want to work with me hire me for freelance or to consult podcasting companies might find my book might read my book and want to hire me to help them build their product and get more podcasts host for their product and make them more money yeah um another reason is partnerships um i run a podcasting community those same companies that might want to hire me might want to sponsor open podcast and that way i can use that money to build open podcasts and make it better for everyone involved in open podcast i might be able to take that money from the partnerships or sponsorships or whatever and give it to people that want to start podcasts but don't uh have the resources to so yeah i want to take that money and put it back in an open podcast okay and the final reason why i wrote the book is for credibility um i have a lot of things to say about podcasting and i want people to hear them and when they when i say something they don't know if what i'm saying is correct but by writing this book some people will execute the things i'm saying like about live streaming and when that live streaming when what i say about live streaming helps them grow their podcast uh they will say that and that will give me credibility in the podcasting um industry so that will help with everything i've just talked about okay thank you for listening um if you have any questions reach out to me supreme rumham gmail.com supreme ramham on twitter supremeramham on telegram if you have if you want to start a podcast but you haven't uh you don't want to figure out how to do everything like hosting the podcast putting it on apple whatever come talk to me i have the open podcast community podcast all you need to do is record the audio send me it uh tell me what you want in the show notes and i will put it on the open podcast rss feed there's also the open podcast blog blog.openpodcast.com um i can give you authors access and you can write whatever you want about podcasting um so reach out to me thank you for listening have a nice day bye