The popularity of podcasts is on the up, so it may be that you’re thinking of setting up your own podcast. Whether it’s about your family life, a lifestyle, a passion of yours or your business knowledge: you can start podcasting about absolutely anything you want.

Yet before you dive in, you’ll want to make sure that you can make a financial success of your podcast project. Is that even possible, though? Yes, it is! You just need to know what you need to put in place to make it happen. These are some top tips you need to know so you can achieve your podcasting goals.

1. Find a problem, believe in your value and build a relationship

You should identify the problem that your audience has for you to solve. Then share how you – or someone that you know – experienced the same issues experienced by the audience. It’s the audience that will benefit when you share your story.

You will build a relationship with your audience by telling your tale. However, you will also need to empathize with what they’re experiencing and make a connection. You could do this by inviting them to comment, then replying to them on the podcast itself; you may wish to speak with them directly. You can even describe what their world could be like once their issue has been resolved.

2. Use a model with a definite solution

There are plenty of money models you can use with your podcasting. These can include items such as affiliate products, coaching calls, ebooks, multimedia courses or a membership site.

You should have a clear solution to the problem your audience is experiencing. So if you decide to have an ebook with your podcast, for example, then you could have chapters that answer your audience’s questions; the others will answer questions they don’t know they need to ask. People will then pay for the value that you’ve created.

3. Create capital

If you need some help with smoothing out your finances – you may want to get equipment to start out on your podcast venture, for instance – then you may be interested in getting a loan. There are two types of loan: secured and unsecured.

A secured loan means that you use an asset of yours as collateral for your loan. Using a secured loan is a good way of building credit if you use a credible lender, and may have a lower interest rate than an unsecured loan since it’s a lower risk. If you have a car of value, you could use brands such as to get a secured loan against your vehicle. However, if you default on payments, your car will be repossessed.

4. Invest in yourself

One of your greatest assets is you, so make sure you invest wisely when it comes to creating capital for your podcast project. Invest in your self-development and get out of your comfort zone – learn something new, practice your negotiation skills or go out and travel.