If you want to make money with your podcast you have to treat it like a business. This starts with tracking your income and expenses. A tool I use is Wave (which has a free version) and Xero.
Get your personal and business bank accounts completely separate. (I Use Sofi). Then use the Profit first strategy which means just that you pay YOU first, you need to keep enough back to pay expenses. You may find that not only is there no money to pay you there isn't enough for expenses.
This is easy to do with, "it's only $15/month." It turns out I have over 300 domain names. DOH!. When you how much you are spending you know you need to either make more money, cut expenses or both. If you're not paying attention, you might find yourself having to file for bankruptcy.
Link to Full Episodes
https://schoolofpodcasting.com/podcast-as-business/
Wave App
https://www.waveapps.com/
Xero Accounting
https://supportthisshow.com/xero (aff)
SOFI Banking
https://supportthisshow.com/sofi (aff)
Profit First Book
https://geni.us/profitfirst-book
Monarch (for personal finance)
https://links.podcastingresources.com/monarch (aff)
Profit From Your Podcast Book
https://www.profitfromyourpodcast.com/book
Podcast Editor Academy
https://www.podcasteditoracademy.com/?aff=podcastcoach (aff)
Join the School of Podcasting
https://community.schoolofpodcasting.com
Chapters
00:00 Opening
00:13 The One Question You Need To Ask
00:45 Step One
01:06 Track EVERYTHING
01:30 Profit First Book
02:10 It's only $15 OOOPS
02:55 Put a Deadline On It
03:35 Personal Finance Tool
04:12 Solve a Problem
