How to Generate 7 Figures with a Podcast Funnell with Philip Better - REIA 499

Welcome to Streams to Impact, the podcast where busy professionals are empowered to develop multiple streams of passive income built on solid, secure, hands-off commercial real estate investments. This show is not just about wealth development. Every episode, we dive deep into inspiring conversations with professionals who are living life to its fullest while making significant and meaningful impacts on a world in great need. Engage with us each week and discover how you can thrive and flourish abundantly in all areas of your life. Now here is your host, Dr. Allen.

Hello and welcome to Streams to Impact. I'm your host, Dr. Allen, and what a delight it is to have you with us today. Today's guest began his journey into podcasting in 2014. When a spark was lit after hearing Kevin Smith's podcast on the Smodcast Network. What began as curiosity quickly turned into passion, and by 2017, he took the leap to launch his own podcast, The Phil Better Show. Tapping into his natural talent for connecting with people, he launched his second podcast in 2020. Invest in Yourself, a digital entrepreneur podcast. The amazing success of this show led to earning him invitations to prestigious events like the Startup Super Club in France. He didn't stop there. He founded his own company, Feel Better Inc., and signed his first client, Lloyd Ross, producing Money Grows on Trees, the podcast. In just 4 weeks, it became the number 1 ranked podcast in the how-to category in Australia and Iceland, with a 50% increase in downloads week after week. Known as the Podcast Mogul, our guest's mission is to help independent podcasters monetize their shows. So get Ready to be inspired by the power of connection, perseverance, and the incredible world of podcasting? Welcome to the show. And yes, you've guessed it, welcome Mr. Phil Better. We're so glad you're with us, Phil, today. So take us into the show and share a memorable experience from your childhood that may have helped you to be who you are today.

Well, first of all, Allen, thank you so much for having me on the podcast. I'm very excited to be here. And that is a great question. You, you kind of stumped me. I'm not used to having to bring up my, my childhood on a podcast. But, um, I would have to say one of the formative memories that I have that really cemented who I was, um, is a memory I have with my godfather. My godfather was an amazing man. Unfortunately, he was taken from us far too soon. But his nickname was Coach. And he was a guy who just loved life. Like, we always joke. He was always that really fun person to be around. You know, he was the life of the party. And he would always give me like these weird life advice, like suck it in. If you get hurt, just suck it in. Suck it in, kid. And he would always be willing to do the most extreme thing just for just for a laugh. And seeing how he lived life really cemented into me as someone that is like. Who cares if someone laughs at you? Because they're laughing, they're having fun, they're smiling, and they're enjoying life. Um, as long as you don't hurt yourself, you're good. But yeah, that probably just growing up having him as my godfather, as someone who was just like so, so odd and so funny. He worked for an airline and we were flying— like, this is one of the main stories I remember from him. Um, I have a lot, but this is the one I find the, the one that just signifies who he is. He worked for an airline in the, like, in the, like, the maintenance department. And he found out we were flying to Florida one time to go to Disney, very young. We're probably about, I'd say I'm about 7, and my brother's sitting on the window seat because he wants to, right? You know, the youngest one is always by the window so he can see the flight and all that. My dad, my mom is beside him. My dad is over with me and my sister. And all of a sudden you hear my brother go, "It's Uncle Ron," right? And my mom's like, "Wait, what? What do you mean Uncle Ron?" And he points out, and there you have my godfather on the wing with duct tape pretending to fix something because he found out that we were on like they were we were sitting on the wing seat, and he just wanted. I feel like we were laughing. My dad was like, oh God, no. Like, oh my God, what is one of my best friends doing? Because he's more worried about all the other people who are looking out and seeing this man with silver duct tape looking like he's fixing the plane. Like, that's just inspiring confidence no end. We were dying laughing. Like, these are some of the silly things that he would do just to get a laugh, just to make sure that you were having a good life. It is something that I have— I have been placing into my own life, making sure that either if I'm with people that are sad, we're doing something— like, we allow them to be sad, but you have to bring up that happiness and change the mood because staying in a sad point is no fun. But he was always there ready if you needed to talk, if you needed to laugh, a distraction. He was always there to make sure that the party, be it one person or thirty people, was it was having fun and it was a good time for everybody. And yeah, that that just really to be honest, I never really thought about it until this moment how he he influenced my life. So I want to thank you, Alan, for bringing that into me and putting me on a good good. moment already just thinking about how awesome that man was.

Yeah, well, how fortunate to have a role model like that and someone who was close to not just you but your, your family as well. So how did he come to be your godfather?

Um, my parents met the family, um, playing softball. When they first moved into the town, uh, where I grew up. And they just started becoming friends. And then all of a sudden, my, um, when my sister was born, she got one of my uncles. And then I was born, and for some reason they chose him. I have no idea. I don't know the story behind it. I'm not questioning the story because I got an amazing godfather who, uh, Was funny, but I could tell you it wasn't probably the the most positive feeling for my my dad's side of the family when when an quote unquote outsider was decided to be the godfather. It's I come from a French family, so it's very very like you stay within the family for things like that. So. It was kind of a little odd that my dad went outside the family, so.

Yeah, well, thank you for sharing that inspiring story with us. Well, let's talk about podcasting and how did podcasting become the vehicle for you to generate passive income and what steps did you take to turn it into a sustainable business?

Podcasting became, uh, my vehicle when I first heard, um, first heard about podcasting back in 2014 when I started listening to podcasting and trying, like, falling into this world. Uh, back then there was like no monetization, or you had to be like Joe Rogan, you had to be a big guy And have hundreds of thousands of downloads an episode. But I enjoyed it because it was such an interesting medium, because it was like one I didn't have to deal with commercials all the time because I could press 10-second skip, you know, uh, and which it was lovely, uh, but at the time there wasn't that many commercials because a lot of people didn't have the advertising. And just listening to Kevin Smith, and Kevin Smith has kind of been an idol of mine since the first time I've seen Clerks, like his story of pretty much risking everything. Like he sold his comic book collection to make Clerks, which for me is like, as a nerd, I will gladly say I'm a nerd for most things comic books. Um, I, I could never fathom doing that because I have comics that I just like cherish. Like there's obviously the monetary, but there's the, the emotional investment because of When I bought them, how they'd helped me. And so hearing his story about how he he sold everything, maxed out his credit cards to make clerks, and then became this kind of like success when he didn't believe he could. Like he's the far outside success. So he was kind of like an inspiration. He is an inspiration to me to to this day. And so listening to his podcast, I was like, I can do this. Like this is something that I can do because one thing Kevin is he's very positive about anybody can do anything. Like if he literally says if I if a fat man from Jersey can do it, anybody can do it. You know? So he I'm I was like okay. So I started dabbling and when I launched the first podcast, I was like oh I'm gonna be rich. I'm gonna be this and the the the this foolishness of youth if you will. And I did everything wrong with podcasting in that because I concentrated first on the money and what would come from me. However, that taught me what not to do, obviously. And then we had this nice little event in 2020. I don't know if your audience is aware of it. It kind of shut down the world. But 2020 happened and During that, just before that, I burnt out. I was going through a rough patch in life and work. I burnt out for and took some time off from work, but that time allowed me to you know watch a lot more YouTube and see how people were making passive income online, becoming digital entrepreneurs. And I'm like, this is interesting. What is an entrepreneur? Because in my life. I had 9-to-5ers my whole life. I had maybe 1 or 2 people who were entrepreneurs, but they owned brick and mortar. To me, that's what an entrepreneur was. It was either they own a brick and mortar or they were your uncle who was kind of like a con artist, if you will, like from the early '90s TVs I used to watch. The uncles were, oh yeah, he's an entrepreneur. He's got this another quick get rich scheme going on. And seeing all these entrepreneurs on YouTube talking about how they're making money using the internet and it's not a scam, I was like, I need to know more. I need to know more about entrepreneurship. So I used my knowledge of launching a podcast, launched the Digital Entrepreneur Podcast with the idea of, I'm going to learn to be an entrepreneur. I'm going to just ask these questions of people who are already an entrepreneur, how to be an entrepreneur, what you've done. And from there, one of the first interviews I did was with a man named Donnie Bovin. I believe I'm saying his name right. Donnie. He is the badass, badass success champion. Like, and the episode changed my mind because he was like, literally in the first, he's like, how are you monetizing your podcast? I'm like, I don't know. He's like, well, you have the skills to create this. And we went on and obviously from that initial conversation, it's evolved into what what I do now, which is I help entrepreneurs, business owners, podcasters monetize, grow, and launch their podcast. Back then it was like leaving a legacy for your kid, for your family, right? Like a voicemail that your kids could listen to, which I'm still interested. But funny enough, I've interviewed someone who does that already, has a, has a company that's called Last Farewell. Last Farewell. Wow, you think a podcaster would learn to speak And she, she does this amazing thing for people who are, uh, on the end of their life, quality of life. They can leave this like great lasting message. So I'm like, okay, she's already doing that. I can't— I, I'm not going to jump into this sphere. Um, but I got asked a few times after the interview about podcasting from other guests, and I'm like, oh yeah, you can do this, this, and this.

Yeah.

And then I interviewed Lloyd Ross in January, and he changed my life, uh, because he is kind of like the modern-day Robert Kiyosaki in regards that Robert told you how to use investing in property to create passive income. Lloyd used the internet— Lloyd used— sorry, not the internet, the stock market— by investing in the stock market. And he— his book Money Grows on Trees, he's He taught people how to get a side hustle, use that side hustle to invest in the stock market, and investing in the stock market creates the most passive income. So after interviewing him and saying like, look, your book— because he sent me his book, I read his book, it's phenomenal. I was like, your book is really great, you should have a podcast. And he's like, he comes up with the regular pain points like, I don't have the time, there's a lot of tech, who's going to listen? And I'm like, and how am I going to make money? Like this is a guy who's a multi-seven-figure entrepreneur. He kind of is like, is it worth my time and how much am I going to make? So I destroyed his belief saying like, look, it can take you like 4 hours a month to do your podcast. You don't have to worry about any of the tech and growing it is very simple. You already have an audience. They'll eat it up and it's going to take care of itself. And once we had the conversation, We had about 2 conversations. He was sold. He answered my questions, put all the— I put all everything together, pitched him the idea. He loved it. And within 18 months, he was able to use his funnel that he had and the podcast to become a 2-time 2 Comma Club Award winner from ClickFunnels, as well as win Best Business Podcast of 2023 Um, and he's been off to the races ever since. He's been able to talk on stages with Tai Lopez, host multiple talks thanks to his podcast. And like, like you said, within a couple weeks he was number 1 in Australia, and he's always in the top, uh, either top 50 or top 100, uh, top 10 on the charts for Apple and all the other podcast charts. And with working with him, pretty much him paying me to be his— him to be my mentor, because I'm— he's paying me, I'm listening to his podcast before everybody, I'm able to implement the strategies and ideas. And him being my client, I, I can ask him questions. And so from there, I was able to create the program that just allows me to either hire the team to build podcasts for people— like, I'm the initial— I build the podcast, hand it off to a teammate, and they run with it, and they're the producer of it. And handle everything for the, uh, the client. Or, or they just hire me to teach their team, and then they go off and they do it themselves, and I'm— I have a nice little pretty paycheck. And through sponsorship, because of the tools that I offer, I use affiliate marketing just to join to get that passive income. It's not a huge passive income, um, because I'm still in that early stages of using affiliate marketing. But it is— it's nice to know that every couple months I get a nice little deposit into my bank account that I don't have to really work about. And the same thing, I take some of that money and I put it into my stocks so that that's my, you know, my passive income, putting into the stock market so I can create more income. And that's pretty much the passiveness of podcasting. You can use it for affiliate marketing, Getting clients or just growing your, uh, growing your, growing your, your authority base.

Well, Phil, how do you, uh, how do you leverage your podcast platform to attract the sponsors to create the passive revenue?

So what I usually do, there's, there's 2 ways of leveraging your podcast to get, uh, sponsors. You can go directly to the sponsor and be like, hey, I have a podcast, generates about X amount of downloads, uh, a week, a month, a year, an episode, however you want. Um, we're looking for sponsorships. This is our ideal, uh, target audience. And, and generally you try and find a podcast, a business that matches. So one of the clients that I helped, he actually was launching an anime podcast. His kids wanted to talk about anime with him, and he had no idea about anime. He Like his anime was back when Dragon Ball Z was like first coming over, like early '90s. He fell off and now he has all these new animes that his kids want to watch, like One Piece and One Pirate and all those, all those type of things. And he's like, he wants to spend time with his kids. Like, this is a great opportunity bonding with his kids. And he's like, but we need to make money because I want this to be somewhat successful. So I told him, do you have comic book shops? That sell manga and anime and stuff. He's like, yeah, Mike, just go to them. Go to them and just ask them, hey, have this podcast. This is my previous. It's a brand new one. This is the idea concept. Da da da. He did that to four or five of the kind of comic book nerd type things that were in the town. Three of them came back saying, hey, we want to talk more about it. And one of them were like, out of the three, one said nearly yes, like right after the follow-up. And so for the first few months, he had he had sponsor for it. And it's like that's what you have to do. You have to physically go to these businesses when you're an independent and say, "Hey, this is the idea I have." If you already have a podcast, come with the knowledge and say, "Hey, this is what it does. We can do a free base. We can do a small cost." The the current CPM, which is cost per million. For advertisers in the podcasting world is $25. It's $25 for 1,000 downloads, 1,000 listeners, if you will. A good chunk—I want to say maybe—I want to say 90, but it's probably—I'll say 80. 80% of podcasters barely break 100 downloads an episode. So, and but we have a listener base. Of hundreds of millions of, of, uh, people with podcasts getting bigger. It's, it's, it's really a marketing problem right now, and people, uh, podcasters need to learn marketing. But what you can literally go and say $25, and a business is like, $25, that's, that's nothing. That's a write-off for most businesses. And so you use that $25, you prov— you go over and above the beyond what you need to do for advertising for this business on your podcast, and you push people to the business. You, you're social mediaing it, you're, you're doing everything. You're learning about marketing, how to be a marketer at that point. Um, that's one of the ways. The other way is just, you know, inviting your ideal sponsor on your podcast and talking to them about their business. So I've been able to get the, the owner of the, uh, the, the Super Cup— sorry, uh, the startup Super Cup— to sponsor my second season. He sponsored the whole season because he wanted people to go listen, go to the event. And so he's like, hey Phil, you have— and he, he was a media buyer, so for the internet, so like buying for websites and all this, getting advertising and all that. So he understood the power of media buying, and he's like, podcasting huge. It's a— it's an untapped resource. I want to buy your— I want to buy pretty much all the advertising for this season. And I'm like, okay, that was easy. And we did it, put it on, was great, amazing. He sent me some, uh, some merchandise because he owns a rugby team. So have this nice little flask from the rugby team, um, that I love. And that is all it is. All it is is just Asking, finding the business that coincides with what your podcast is. So if you have a horse podcast, go to horse dealerships. I don't think they're dealerships, but—

Well, there are.

I'm thinking of a car dealership. You walk in and they're just all, yeah, I have the Ferrari of horses over here, the 311.

I thought you were talking about products. I mean, there's all kinds of horse products.

Yeah, there's horse products as well. Like, that's when I said a horse dealership, I was thinking of like actually horses. But yes, you can get like the horse supplies, you can get, you know, the food, insurance for horses, anything that's like, what does the horse need? Or what does a rider need? Or what does a business owner need that deals with horses? You can go to them and if they're your target audience, go to the businesses that they use and see if they're willing to sponsor your podcast. Or you can do it like me and just invite them onto your podcast and then pitch your service afterwards. That's pretty much the simplest way. Plus, with your episodes going out and you putting your advertising, if you pitch your own services inside your podcast, you have a passive ad that's playing 24/7, 365 days a year. 365 days a year, 66 on a leap, but it— and then it ends up costing you close to nothing because it stays there. And every time it goes and it's listened to, it pays for itself over and over again.

Well, that, that's interesting. I didn't really have any idea how monetization worked, but I'm sure there's a lot of technicalities to setting up the ClickFunnels. Click for pay there, but interesting concept there. So Phil, share with us some key insights that you have gleaned from the 100 or so plus entrepreneurs that you have had on your show. What are some of the key insights for entrepreneurs?

First thing is, the first lesson I actually learned was entrepreneurs don't know what they're doing. Right off the bat, nearly every single one of the entrepreneurs I've interviewed have said, "If I knew what I didn't know, I would not go into it." And it's because they just didn't know how either difficult it was, how crazy busy you would be, the challenges you would face, or really how like hard it is because being an entrepreneur is hard. Work. But when you get to a certain point, then it just becomes simple. And for a lot of people, simplicity means easy. There is still challenges of being an entrepreneur, but I think that the fact going in knowing that no one knows what they're doing and it's actually harder than what you think it is, uh, is probably the biggest lesson I learned. And networking— networking is probably the most fundamental thing you need to do as an entrepreneur. If you're not connecting with the like-minded people, uh, you're missing out. Because the amount of help I've gotten as a, a budding entrepreneur when I first started to where I am now is amazing. Because so many entrepreneurs always have said to me after the interview or during the interview, it is always to reach back and pull up anybody you can. Because like they said, a rising tide lifts all ships. And that's something that was very important in podcasting because we are such a small community. There's approximately 4 million podcasts, which some people would be like, oh my God, that's so much. But if you look at YouTube, there's over 113 million channels. So it's like we're still— we're a small little town. We're a little outpost You know, in the Roman Empire, if you think about it. If you look at the media as a Roman Empire, you know, like we're out in Gaul pretty much away from the family. So we have to work together. And by being a podcaster, talking about podcasts to other people who may not be familiar with podcasts, or have any idea, not just promoting your podcast, saying, yeah, you should listen to my podcast, obviously, but talking about like— You go, hey, do you listen to podcasts? And they go, no. Well, why not? And you get their answer and you go, well, you know, what's something you're interested in? And they're like, oh, I love politics. And you go, there's a lot of politics podcasts out there. Like, they say they love anime movies. There's tons of great movie podcasts. And if they say they love, you know, death documentaries or, you know, murder mysteries, there is very, very much a large percentage of female podcasts that are around that, that scare me, um, simply because they're learning how to very carefully dispose of bodies and watch out for, uh, getting taken, getting caught. So that's somewhat scary for me, but I love it because that means more people are coming into my, my industry, and it just means more ideas. Because before 2020, the monetization was you either have to have a huge audience and have them pay you, or you have to get sponsorship. But the minute pretty much 2020 happened, the ideas behind monetization exploded. There's memberships, and you don't— and the idea that you need hundreds of thousands of downloads has been wiped out because you have people who are getting about 1,000 downloads and they're making millions of dollars off their podcast. So it changes the way you, uh, you think about it. And it's— I just love podcasting.

Well, fascinating. So Phil Better is with us today, and you can find Phil at thepodcastmogul.com, and he has a special for you today. It is a Podcast Moguls Toolkit, and you can go to thepodcastmogul.com/steedtucker, and you can get his free gift there. So tell us a little bit more about, uh, your business. And besides, uh, just going here to get the free gift, how else can they connect with you?

All right, um, so first I'm going to start again. Allen, thank you very much for having me. It was a pleasure chatting with you, um, Apart from getting the free gift, which will have pretty much all the tools that I use to make a successful podcast, it's— you'll get the tools I use for recording, what I use for creating content, places to find guests or be a guest. And I think there's a few bonus things in there as well because Allen has been such an amazing host, but also He was a guest on my podcast, so I had to go a little bit above and beyond for a former guest. But my business is pretty much, like I said, launching, monetizing, growing podcasts. If you have a podcast already, you're looking for it to either grow or monetize, please check me out, leave me an email, hit me in the DMs. You can find me pretty much on all social media, The Podcast Mogul. Um, that's, that's— you'll find me on Instagram, Facebook, uh, LinkedIn, all those places under that. Um, you want to have a conversation, you want some help, just, just DM me and I'll be more than happy to help you. Um, if you're looking for someone to take care of the production side of your podcast because you're like, it's too much, we can have that conversation too. Uh, I can help you either set up a team or I can handle it yourself and be the team lead. Um, but yeah, please make sure you, uh, before I go, I want you to leave a 5-star review of whatever podcast app you're using of Steetalker for Allen. Tell him how much you love it, because as podcasters, it's one of the most, uh, loneliest gigs because we don't necessarily get good conversations between our audience. They're listening, we're inside their head, but they don't sometimes leave comments and that. But I want you, if you've enjoyed any one of Allen's, uh, episodes, leave him a 5-star review. Just a simple 5-star, just 5 stars on any platform. Or if you feel, you know, courageous enough, leave that, uh, that comment about how awesome this podcast is, because Allen's doing the work to help you guys figure out how to make that passive income so that you can have a better life. So, Allen, thank you so much. To the listeners, thank you so much for, uh, having me today.

Well, thank you for that plug, Phil. I have one more question before we let you go here, and that is, uh, share with us one of the most challenging experiences you've had. And it may be with podcasting or maybe other aspects of your life, but one of the most challenging experiences you've had and how'd you come through that time, and what was the lesson you learned from that?

This is— I, I, I'll say my burnout was probably the most challenging, uh, aspect, uh, because when you have a burn— when you, when you have a burnout, when you experience burnout, you don't realize you're having a burnout. And then once Once you've gotten that gleam that, oh, this, this is an issue, everything kind of just falls apart. Because normally with— when— for my spec— and this is only talking for me, and I don't want to say it's for everybody— but when I was having my burnout, it felt like I was trying to plug as many holes as I could in this dam.

Hmm.

And I was just running, putting my finger, my toes, Using tape, everything. And then when the dam finally burst, I just just like awash in like emotions, sensations, things that I had been put away, like tried to hide for for years. And I just felt like I was in this. The best way I can say is kind of like in a movie when someone goes gets hit with a big powerful water and they're underwater and they're flipping around and they don't know which way is up and. And I just felt like completely lost. I didn't know what I was doing. I, I just like the explosion happened, lost, like don't know which way is up. And when I finally started seeing a therapist, which was only like 2 months later after the initial Like what could be called the the break in essence of the burnout. Two months later, going to therapy, and it was weekly therapy while I was on burnout as well. So that helped, and it was probably the single best thing I've ever done in my life. But it allowed me clarity. To help me realize that things are— I'm in more control of my life. Instead of letting life happen to me, I was making life happen for me. And that changed everything. It just removed the rose-colored glasses. It just removed all the lenses that you have You've been told to wear your whole life. And it allowed me to remember, you know, like my godfather, how much he loved life and how important it was to love life. And so it's just slowly that burnout just allowed me to become a better version of myself. And with starting therapy and realizing that what I was doing It also helped me figure out the name of my podcast, the you know invest in yourself. I was investing in myself, and I wanted to know what else I could do to become a better version of myself. And who's better to ask than entrepreneurs, right? Because they're they're bettering themselves, and they're making life better for others. So yeah, I would have to say, do the burnout and therapy combined would probably be the most. Like challenging aspect of my life so far and just relearning how to enjoy life like a child again. Um, having my nephew also helps a lot. One of the, one of the primary questions I ask, um, and you can, you can attest to this, Alan, um, before they, they leave, I always ask my guests what advice they would give to their 10-year-old self. And in reality, I asked that question because I have my nephew, he's 6, and I want to give him a big book of advice from entrepreneurs that I wish I had when I was 10, or at any age pretty much, um, so that he can, you know, whenever he's having struggles or something, he can look at this book of advice from so many successful people who have gone through so many different things, and he can be like, oh, you know, Allen had this issue, I have that, something similar, this is what he did, and it made— he has at least some advice to start off, you know, to go through the, the path that is life. So that is, uh, something I'm doing. Like, I'm always interested in how you can invest in yourself to become a better version of yourself. So, um, and obviously making life better for the future generations.

Well, thank you for sharing that, Phil. I think that, you know, from the conversation you and I had previously, I really I do think that those, sometimes those burnout times, those darkest times in our lives, can in retrospect be the best days of our life.

Yes.

And so thank you for sharing that personal story with us and sharing the fact that you went into therapy, which a lot of people don't like to admit, so I appreciate you sharing.

Thank you very much.

Well, wonderful conversation, Phil, and it's been a delight being back with you. And as always, you bring joy and you just make people feel better, Phil. So we're delighted that you could be with us. And Enlightened Investors, it's been a pleasure having you with us again today. Thank you for taking your time to be with us. And as Phil requested, please do leave us a rating and review. It makes so much difference for us. Thank you for being with us. Thank you, Phil, for being with us.

Thank you.

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