Competition Myth: There Are Too Many Podcasts And Let's Face It, I'm Just Not Famous Enough!

In the last episode we totally debunked the Money Myth with help from Cindy Little. There are still four other myths keeping a lot of people stuck from being seen as the  go-to expert. Here's a quick look at the list of what those myths are:

• Money myth (debunked by Cindy Little)
• Competition myth
• Content myth 
• Tech myth 
• Time myth

In this episode Carl unpacks the second myth, the Competition Myth.

One of my favourite podcasts is Raising Your Spirits. Check it out here:
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Transcript

SPEAKERS

Carl Richards

 Carl Richards  00:00

Hey there, it's Carl Richards you know, one of my favorite podcasts that helps me get in touch with the spiritual side of things is Raising Your Spirits. You know, Tony and Suzanne are masters at enhancing the invisible energy stream in and around your body. And they use such things as tuning forks, crystals, meditations and distance healing, to do just that. If you're ready to accelerate your energies, and really make dynamic changes to your life, tune in to Raising Your Spirits. You'll find the link to the podcast in the show notes. 

Welcome to Podcast Solutions Made Simple. It's the podcast that's all about podcasting. I'm your host, Carl Richards. You know, in my 25 plus years in the broadcast and speaking world, I've noticed a lot of overwhelm when it comes to podcasting. And I'm here to tell you, it doesn't have to be that way. If you're a coach, consultant, or other subject matter expert, and the thought of starting a podcast seems too technical, too confusing, too time consuming, or just way out of your reach, then this is the podcast for you. On this show we give you the tools, tips and techniques to run a kick ass show and share stories from people who have been there, done that and are enjoying massive success with their own shows. Oh, and if you're an existing podcaster this show is also for you. The mics are up. So let's dive into today's episode. 

Yes, it is another edition of Podcast Solutions Made Simple. Thanks for being along for the ride. Remember, if you have questions about podcasting, we're here to help you. This is what this podcast is all about. When I was doing research for this podcast, I noticed that for all of the podcasts that were out there, there were not a lot of podcasts about podcasting. There were some podcasts that had episodes about podcasting. But as far as podcasts dedicated to the art or the craft or the skill of podcasting, there really were limited options. So that's why we thought that we would start this podcast. So we are going to have some guests joining us in the coming weeks. 

And right now, we're going to continue the Five Myths of "Why People Don't Launch Podcasts." And maybe these myths resonate with you. Because I know before I launched my podcast, there were a few things holding me back. All right, and one of the ones that held me back was the Competition Myth. And that's what we're talking about today, the Competition Myth. There was this preconceived notion, or at least I had this preconceived notion that "what was I going to talk about that hasn't already been discussed?" And really, "what's my credibility in this space?" You know, there were other speakers out there. This was back in the day when I was only doing speaker training. And when I launched the Speaking of Speaking podcast, by the way, I'll put the link to that in our show notes today, as well. And you'll be able to check out some of that too, because there's a lot of great information there about speaking and presentation skills that might be of interest to you as well. 

But I remember when I launched that podcast, I remember thinking to myself, well, if people like Deepak Chopra, and Oprah Winfrey and Tony Robbins, and even some of the more well known speaker trainers that that I was familiar with, like Fred Miller, Fred E. Miller has a great podcast about speaker training and how to be a better presenter, how to write your elevator pitches, things like that. If he is a podcast, how do I compete with a guy like that? Who's already established and has a show? Okay, so that was going through my head, as I was getting set to launch that podcast. And I know that there are people when I talk to them, and I say "what's holding you back?" And sometimes they'll say, "Well, there's there's too many podcasts out there now! There's, there's, you know, there's there's hundreds of 1000s, if not into the millions of them." They would be right there are at the recording of this podcast episode, which is the summer of 2022, there are nearly 3 million podcasts around the world. 

One of the things we discovered in our first official episode, you know, for every 500 blogs out there, there's one podcast, one podcast. So if you're thinking, "Well, you know, I already have a blog, so we don't need a podcast too." And there's so many podcasts out there. If you're in the blogging headspace, by the way there are more blogs, than there are podcasts, far more. And that means that firstly, if you're a blogger, and this is no disrespect, by the way, if you are a blogger, what you're asking your prospect to do is to sit there and read your blog. Now some people will write 1000 2000 3000 words every week and expect that people are going to read every single word of it. I always say if you're in the blogging space, by the way, that you combine your podcast and your blog together, you get the short, you know, 150 200 word blog version of your podcast or the blog version of your information of your content. And then what you do is you get the podcast version, that your prospect or your client can take with them as they're out doing their morning run as they're getting started on their business day.

 All right, so competition. There's too many out there already. And there's market saturation. Well there aren't. There really aren't that many out there, it's still a big playing field. I want to put it in another perspective, though, I want you to think of the number of websites that are out there. I asked this question, when I was giving a presentation at a networking group. And I just simply asked the question, how many podcasts are out there in the world right now. And somebody put a number in the chat, it was a zoom call, somebody put a number in the chat, I knew it was not a real number. They even said, That's not a real number, I'm just guessing into the hundreds of millions of websites. 

So when you think of websites, and how many websites are out there, you wouldn't not create a website for your business, you wouldn't say, "oh, you know what, there's too many websites out there. So I'm not going to create one for my business. And you know what somebody else in my industry-" So take, for example, me when I was saying, "I don't want to start a podcast." But imagine me saying when I was doing the research for my website that, "oh you know, Steve Lowell has a website, and Fred Miller has a website and Paul Toby has a website, and Mike Lipkin has a website and Deepak Chopra, all these other great thought leaders and coaches and trainers, they all have websites, I don't think I'm going to create one, there's too many out there already. Who's going to pay attention to mine?" In 2022, the recording of this episode that would be that would be business suicide, right? 

You need in 2022 a digital presence, you really do. Right, so you need a website. It's getting to be the same way with podcasts. You know, it used to be said that in order for people to develop enough of a Know, Like and Trust factor, you needed to have at least eight to 12 touch points and a touch point could be anything from they're seeing a Facebook live video, they're hearing you speak at an event, they're meeting you in person at a networking meeting, they they picked up your business card, they've purchased your book, and they're reading it. Now with the amount of saturation with content, and how much messaging is out there. You know, the average person receives between 6000 and 10000 messages per day, in all the different ways that we sent messaging out. Everything from Billboards, radio, television, newspapers, online articles, Facebook posts, Instagram posts, LinkedIn posts, all of those other ways, emails that people receive every single day, okay, it's upwards into the 1000s of messages people receive every day. So now to develop that Know, Like and Trust factor, you need 18 to 24 touch points. 

So a podcast, properly positioned becomes yet another touch point, which then allows you to navigate through the competition, which then lets you be seen as the go to expert, versus the business professional in your industry that doesn't have a podcast. Okay, think about this, logically, the best time to launch a podcast would have been probably 15 years ago. The best time to launch a podcast to get ahead of the competition is now. And it's not that I want you to think in terms of "oh, what's my competition doing?" And be focused on that, be focused on what's important for you and your business and your brand, but consistently be doing market research, to find out exactly what the competition is doing? Don't dwell on it. But it's something that you should be looking at on a regular basis, or people who are doing similar things to what you're doing. You can take some of their ideas as long as it's not their intellectual property and run with it. 

But the Competition Myth, the thought that there's too many out there already is bogus. The thought that there's marketing saturation, with 500 blogs, every one podcast is bogus. So let's debunk that myth right now and say that, you're going to put that aside and say, "You know what?" In order to build my brand, my business, my credibility, allow me to be seen as the go to expert in that professional light, much the way people would view you. If you had a book, or you were on radio as a guest all the time or other shows, whether they be television talk shows or radio talk shows, online, networking events, whatever they are, they're seeing you in that headspace. You're being invited to speak at summits, virtual and in person conferences, virtual and in person in order to be seen that way. Let's put that myth aside and say "it doesn't matter how many are out there now. I'm still going to be seen. I still want to be seen in that place. And therefore, I'm going to allow myself to put my content out there so people can see me in that headspace." 

And our guest next week who busted through the Competition Myth is Bernie Franzgrote. Make sure you tune in for that. And thank you for joining us today. Special thanks to our producer Aidan Burrows, our production lead Kieran Doherty, our music guru, Nathan Simon, and the person who works the arms, all of our arms actually my trusty assistant Stephanie Gafoor. 

If you like what you heard today, leave us a comment and a review. And be sure to share it with your friends. If you don't like what you heard, please share it with your enemies. Oh, and if you have a suggestion of someone who you think would make an amazing guest on the show, let us know about it. Drop us an email. AskCarl@Carlspeaks.ca. Don't forget to follow us on LinkedIn and Twitter as well. You'll find all those links in the show notes. 

And if you're ready to take the plunge and join the over 3 million people who have said yes to podcasting, let's have a conversation. We'll show you the simplest way to get into the podcasting space because after all, we're Podcast solutions made simple. We'll catch you next time!