Earlier this year, I was talking to an entrepreneur who has been listening to the 21 Hats Podcast since before the pandemic. She told me that she had built the weekly conversations into her routine and that they had helped her make it through the crisis. And then, she offered some advice. Recognizing that I would have to start charging listeners and subscribers at some point, she encouraged me to set a price based on the value those listeners and subscribers receive. “For me,” she said, “the 21 Hats Podcast is comparable in value to my weekly session with my therapist. And I pay hundreds of dollars for that.”
Okay, so hundreds of dollars a week for a podcast seems a tad high, but I do need to generate revenue. While I’ve brought on a few sponsors, I don’t want to be dependent on them. I don’t want to chase traffic for advertisers; I want to provide value to a segment of business owners who tend to be overlooked by the mainstream business media and who I think will be happy to pay a reasonable fee. (And if that happens, I am confident I will also attract but not be dependent upon sponsors.)
So what’s a reasonable fee? How much do you value the 21 Hats Morning Report and the 21 Hats Podcast? What would you pay to give me the opportunity to keep building this community?
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