Podcasting on a Budget: Insider Tips for Launching Your Show Without Breaking the Bank

Are you interested in starting a podcast but also need cost-effective ways to make it a reality?

This interview features podcaster and author John Lim , who shares his best tips for launching a show while being mindful of budgeting limitations.

I had the privilege of connecting with John a few years ago when we were both asked to sit on a live-stream panel discussing podcasting for influence. Since then, we’ve teamed up on similarly themed podcast episodes so I knew he would be the perfect person for this interview.

Before we begin, here’s a quick bio:

John Lim is the host and executive producer of Be Moving Forward podcast, now in its tenth season with over 400 episodes. The show is a mix of impactful conversations with prominent guests and solo episodes around best practices, lessons, and takeaways on different topics. John is the author of several books, including The Poshmark Guide for Individuals and Small Businesses, The Poshmark Seller Journal for Individuals and Small Businesses, and creator of the Corporate Cliches coloring book. You can learn more about John and his work at BeMovingForward.com.

***

1.????Let’s start at the very beginning, since that’s probably where many of our readers are right now. Where is a good starting point for creating and launching a podcast?

The end. Have a clearly defined exit for your show. Put aside the excitement over launching a podcast and look towards the long term. Chances are you won’t be doing this forever. Map out an arc for your show: beginning-middle-end. It doesn’t matter if it’s 200 episodes over 5 seasons or 20 over 2. Really think critically about where your show will end and from there, reverse engineer the format, schedule, etc.

2.????What are some cost-effective ways to conduct research and gather information for podcast content?

There are so many blogs, books, videos, and podcasts on getting started. However, don’t fall into the trap of overdoing the research. You can fall into a rabbit hole of information which can get overwhelming. Find one or two really good resources and listen to some shows (if you don’t already) to get a feel for the medium. Set a firm date to launch your show, and make a plan to execute.

3.????What equipment would you recommend for podcasting on a budget? Are there any specific brands or models you would suggest?

I’m a firm believer in starting with what you have at hand. Today, you can record a podcast right off your phone, tablet, or computer. Don’t go out and buy a bunch of expensive equipment if you’re not sure how long you’re going to do this. You can always upgrade later if you stick with it. Test the waters first.

Once you have some episodes under your belt, consider investing in a high-grade microphone. There are many options out there, including USB mics that are direct plug-and-play for under $100.

4.????Are there any free or low-cost software tools or platforms that can help with recording, editing, and producing a podcast?

For solo podcasts, I love GarageBand, which is natively installed on the Mac. Audacity is a good free alternative that’s available for Mac or Windows.

For interviews, Skype or Zoom have native recording features and both are really good for audio or video interviews.

For editing, GarageBand and Audacity are pretty straightforward though I recommend keeping the editing to a minimum.

5.????How important is the quality of audio in a podcast, and what are some cost-effective ways to ensure good sound quality?

I’m probably an outlier on this but I don’t think it’s as important as many make it out to be. I put more stock into the content than the sound quality. I’ve gotten immersed in some podcasts that had really staticky quality and were recorded off an internal speaker. On the other hand, I’ve tuned out podcasts that had crystal clear sound. Obviously, having both: great content and sound quality are the winning combo but don’t obsess over sound and editing at the cost of your message.

To ensure great sound quality, have a decent mic and record in a space with minimal reverb. You can do simple soundproofing with inexpensive foam egg crates or even towels. Finally, speak clearly into the mic. Some will even record podcasts in their clothes closets, which I’m not a fan of, but is effective for reducing reverb and external noise artifacts.

6.????What are some strategies for finding and booking guests for a podcast without spending a lot of money?

Start with people you already know who can speak to your topic. Chances are you already know some great guests, including those who’ve never been on a podcast before. You can also reach out and invite guests you follow on social media or through their website. The great thing about hosting a podcast is that if you’re consistent with it, you’ll likely have podcast booking services or PR people reaching out to you to pitch guests. ?

7.????Can you share some tips for effective podcast promotion and marketing on a limited budget?

Social media is the most common. Pick one or two (no more than three) platforms to post new episodes to. Otherwise, you may spread yourself too thin. I like headliner.app to create teaser videos for episodes. Canva is great for creating formatted social media posts. If you’re doing an interview podcast, encourage guests to share out their episodes by providing the air date, links, etc. ahead of time.

8.????Are there any free or low-cost hosting platforms for podcast episodes that you would recommend?

For publishing a podcast, Spotify for Podcasts (formerly Anchor) is a free hosting platform with no monthly storage limits and can handle video files, which can be viewed on Spotify. It’s very straightforward and easy to syndicate a show across most of the major podcast channels. You can launch a new podcast there or migrate an existing one from a different host. I do recommend shop around and find a platform that fits your needs.

9.????How do you suggest maximizing the reach and impact of a podcast without spending a significant amount on advertising or promotion?

Be consistent with your episodes and release schedule. Pick a schedule and stick to it. This starts with being realistic about your time. You may not have time to do a 30-minute weekly show. It may be 15 minutes every other week. Be realistic about your time and other commitments and shape your podcast to fit your schedule. It’s ok to deviate occasionally if things come up and you miss an episode but try to let your listeners know in advance whether at the tail of an episode or on social media.

10.?What are some strategies for monetizing a podcast without a large initial investment?

First, be realistic about why you’d do this and have some concrete reasons for launching a podcast other than making money. If monetizing or getting sponsors is your main goal, consider something else. Know this going in: monetizing a podcast is not easy and even if you are able to do so, it may not be a lot of money.

Second, rather than asking “How do I monetize my podcast,” think of it in terms of direct and indirect benefits.

Direct is what I define as ad placements and sponsors. This is all about having a large listener base and unless you’re someone who’s already famous or has a large following, it will take a lot of work and sticking with it to achieve this. Even if you do grow the audience, you may not get sponsors right away or at all.

An alternative to traditional ads and sponsors is to look at local businesses that may want to work with you to get the word out, especially if your show is niched to a specific topic or geographic region. Be open and flexible. Small businesses often have much smaller budgets so may not be able to spend a lot on an ad spot. Instead, they may help promote your show or allow you to record an episode at the location or come up with some other creative quid pro quo.

For new podcasters, I recommend focusing on indirect benefits. Your podcast may become the primary marketing channel for your business or product. You can also use your podcast as source material to develop other content such as books or courses. Finally, having a podcast may open the door to speaking engagements, new clients, and building your network with great connections.

11.?Can you provide some guidance on creating engaging podcast artwork and a professional podcast website without breaking the bank?

I love Canva. You can create your own podcast artwork with its robust library of graphics, photos, and fonts. You can also find budget-friendly artists on services like Fiverr and Upwork.

12.?Are there any specific tips or tactics you would recommend to engage and grow an audience without relying heavily on paid marketing?

As mentioned above, stick with it. Podcasting is slow and steady growth. You’re more likely to find an engaged audience with consistent content than with one specific guest or episode. It’s really a long game that requires time and patience. This is why I recommend starting with the exit so you have an endpoint that will continue to motivate you once the shine wears off from launching your show. Finally, have some tangible reasons for doing this outside of monetization, whether it’s marketing your business, building relationships, or just having fun.

***

I’d like to thank John for taking the time for this LinkedIn exclusive interview on cost-effective ways to launch a podcast.

Follow John Lim and the Be Moving Forward podcast page here on LinkedIn.

Subscribe to my newsletter 10-Minute Mentor with Rich Perry for more!