Advice on How to Make a Pain Point First Podcast Sales Model Profit with Tara Newman of the Bold Money Revolution Podcast

Wish you were one of those influencers with raving fans who binge on your every word, consume all your content, buy everything you have to sell, and demand even more. Then stay tuned while Authority magazine columnist and buzzfeed contributor Tracy Hazard shares strategies, tips and tactics from top videocasters, podcasters, authors and social influencers on creating that bingeable factor. Now let's join Tracy as she explores how to rise above all the digital noise with the Binge factor.

Hey everyone. Welcome back to the Binge Factor. I'm Tracy Hazzard and I have a bold podcaster today. I have the Bold Money Revolution host Tara Newman and I'm so excited to talk really, you know, a model of podcasting where it is really all about sales process and sales growth and really community growth as well within that so group coaching and other things that she does. Tara Newman has coached high performing men and women for over 20 years, from New York Times bestsellers to TEDx speakers to tech executives and multimillionaire CEOs. As the creator of the science driven CEO debrief, the Slow Method, the Boldest offer the EMS framework for emotional resilience and entrepreneurship, she infuses everything she does with the systems of success and the science of human performance. The difference between high achievers and high performers. She takes high achievers and makes them high performers. This is her most popular social post and most downloaded out of all her podcasts. It's a gateway topic. Insanity in the online space. You don't need to be hanging out there. Get outside the online business bubble. Stop with the franken business. She's got topics like busting the $10,000 month, a hundred thousand year benchmark. You know these things are so great. How to have a massive business growth at a moderate pace. Don't those sound like fabulous topics and things to discuss and hear? She is so frank and so straightforward and really nitty gritty and raw. What she gives on her show. She's got much more of a topic based show. So I want you to hear that for sure. And you know, she's got a model of, you know, removing the filter, the filters we sometimes put on to be podcast hosts. She's got some of those filters removed but in a completely good way so that you can really get at the things that are making her show successful. The things that where she can really help you and make you successful at the end of the day and that is working extremely well in creating a really great show. Bold Money Revolution. Tara Newman. Let's hear what she has to say.

Tara, thanks for joining me. The Bold Money Revolution. Great title. How did you come up with that?

Thanks for having me on, Tracy. Actually, that was a recent rebrand. It was the Bold Leadership Revolution, because that's the name of my business. And then as we've started to kind of niche down, get more specific, really be clear and focused on who we want to work with and what we want to do, I was like, no, this needs to have money in the title.

Well, and you're Profit First Certified. I had Mike Michalowicz on the show already. And, you know, I'm a big Profit first fan myself, so I think the word money makes sense in there.

Yeah.

Now, how has the response been since the rebrand?

Well, it's so interesting because when we were, you know, sometimes as experts, we resist the thing that we're really expert at. It's just like this weird thing we do.

It's so true. Right?

I know. It's like this. This funny thing. And so looking at the data of the show, we kept going, oh, the top podcast episodes are on money and mindset. And I kept resisting. I resisted it for so long. And then what happened was, is I went and got Profit First Certified. And I'm like, oh, wait, I do do this. Like, it was like a validation and like a confidence boosting thing, and it made me feel ready to claim that. And it's still kind of a weird thing to claim as a woman that the thing you do really well is make money.

Yes.

Grow money, use money, talk about money. I mean, people say to me, we just love that. On the podcast, you say, I love.

Money, but it's not just that. And this is so, you know, I'm going to dive right into your bingeable factor, because right away, um, did you know you had a good job?

You didn't even know. People tell me. I mean, like, people tell me I do, but I'm always like, are they just saying that?

Well, you know, first things first. I just want to explain so the audience understands a little of your structure. So you have a lot more. I'm going to call solo shows shows where you're teaching, where you're advising, where it's just you. You have guest shows in there, but so many of the Money Mindset show are all interviews, so there isn't a lot of that solo going on and a lot of the other shows out there. So competitively, you have a different type style of show, which is, I think, important. The second part is, is that when you have something that you're concerned about. And so, you know, you have a 2:00am problem. So your clients, your, your listeners have a 2:00aman. They have cash flow issues. That's keeping them up at 2am and they're googling things and that's how they find you, right? So, and then when they find you, the, your binge factor kicks in and I'll tell you about what that is in a second. And then they listen to all the episodes.

That's really interesting. So thank you for sharing that with me because. Well, I mean, the podcast is very intentionally designed. About a year and a half ago, I had an anxiety attack in the middle of the night and I woke up and I immediately went to put the podcast app and I'm like, who's going to talk me through this? And I couldn't find anybody who could really talk me through it. And I had. I've actually been meaning to create an episode that's like break glass in case of emergency. And it's me talking them through an anxiety attack at 2am so it's very interesting that you said that.

Well, you know, and this is good. And so this is the thing, the binge factor that you have. So. And I listened to thousands of shows, right? Between my clients and all the people that I interview here that I' listened to thousands of different shows. And each one has themes of things that are bingeable, right? There's themes of the way that they work. And in your case, there's a lot of straight talk, right? There's a lot of this nitty gritty real talk. But you say things that most people don't. One of the examples of this, in which I absolutely loved that you said is you said, stop being transparent and sharing your financial statistics. How are your sales going? John Lee Dumas does that. Pat Flynn does that, right? There's this transparency and you're like, that's not a smart business move. The IRS can see that. And you're just being frank about it. But it's so practical and smart. And it hits this point in your head as you're listening and so your brain clicks into this and you go, oh, she's right. And the minute you hear that, because that was truthful, and in a truthful, in a really raw and straightforward way that was in service of me as a listener, makes me go, she cares more about me than she does about her ego in herself, I'm going to listen to the next thing she has to say. That's why your binge factor works, is because every time you Talk. And you give this straightforward advice, this nitty, gritty, raw advice that you give, it turns into something that shows deep care and understanding of where I am as a listener.

Thank you.

So keep doing that.

It's not easy to do, you know, like, when you have a microphone in front of you and you're like, I'm going to say something, that's going to piss people off.

You know, it happens. Right. But you know what? It's okay. It's okay. Pissing people off is okay. Telling people things that are not the most common are also okay as long as you can back them up and you do with really good reasons why.

Yeah, you know, that's the really important part of my brand is we call it. It's bold. It's, you know, the Bold Leadership Revolution, the Money Revolution podcast. You know, we talk about being bold, and I say bold is saying the thing you're unwilling to say, doing the thing you're unwilling to do. And not in a way that goes against your values, but in a way that really pushes you to do that uncomfortable thing that you've been leaving on set or holding back. And that's what gets you to stand out in a crowded marketplace, because most people are just so unwilling to do that.

Well, and, you know, this is. I think it's. We're so unwilling very often as women to not say something, to hold it back to, you know, and I was actually just having this argument with my daughters this morning about that. I am not a fan of you holding in how you feel about something. However, there are times and places for things and how we learn to determine when those times and places are. So we just had to have a discussion about that, you know, but, you know, so being too bold all the time is too much, but not doing it. When you sit back and you walked away from a conversation saying, I should have said something about that. You know, like getting a haircut, you if you should have said, I like my bangs long, you know, or, you deserve the haircut you got right. Like, that's one of my more common examples. Yeah. But, you know, your podcast is going really great, but what made you decide to start it at the beginning?

Oh, my gosh, this is such a fun question. So it's going to be four years old, and I started it for two reasons. I started it because I'm not the hugest fan of social media. And back in 2017, we were still in, and probably still are in the free, free, free Facebook group. Free post 3 to 5 times on Facebook and that's not the business model that I wanted to have. I don't think it's sustainable. I don't think it actually works. Women tend to over nurture anyway and they forget to ask after they've given all the value. And so I wanted one place that they get something for free. So that was the one thing. And I was like, okay, if I do a really great job at delivering high value content in this podcast, that's my free plus an opt in, obviously, but like, that's it. Like I don't have to be like saying and spraying all over the place my free value. The second reason why I did it was because I was so horribly anxious about pitching other people's podcasts.

That I was like, I'm just going to create my own.

So you were, you were afraid to go and tell how I'd like to be a guest.

Yes.

That's so interesting because I guess to me it's more of like an easy thing now. But I guess that's, that's so true. Like you get to this stage where, where. Yeah, you know, once you're a podcaster, it's a different world than it was before you were a podcaster, right?

Yeah. Yeah. You know, I think I was a pretty. I was pretty typical. I know I work with a lot of women who struggle with visibility. It feels like, you know, very ra. Like vomit inducing sometimes, depending on how you do it. And I was certainly in that boat. And this just felt like the safest way for me to be visible. And I'm really good at the long game.

Yeah, you absolutely are. Four years in, you've got some really great episodes. What are some of your favorites?

Oh, you know, I think it just really starts. It keeps getting better and better, like as things marinate and as you do more of what you do. I've got a handful of favorites and so I. There's one that is like everybody's favorite episode. It's the difference between being a high achiever and a high performer. It's the most listened to episode on the podcast. Another one that I really like is the eight Stages of Business, where I walk people through what I think the eight stages of business are. And again, to your point, I'm very honest in the action that I think that they should take at each stage. And I'm also very clear at what stages in their business I can help them.

My entire podcast is designed to be an external sales process.

Right. So do you think that you have a lot of clients though, who still.

Listen yeah, because the way it's built is that if you are listening to my podcast and you are working with me, either one on one or in my mastermind and. Or you're in my group program, it all kind of goes together. It becomes almost like an immersive learning experience because we do take some of the audio trainings we do in our program and put them on the podcast, or vice versa.

That's what I was going to say.

Are you.

I was in. My next question was, are you really efficient about it?

So, yes.

You know, we use, in one of our podcasts, feed your brand. We use our coaching calls with our clients as our podcast. So we're actually creating our content at the same time we're training our clients.

Yeah. And then I, you know, a lot of the ones where there's a guest, it's a case study, it's a. It's a client or a person in my program. So there's one that we did around burning your business down, because everybody wants at some point to burn their business down, and that featured a client, and that's another one that everybody really gets a lot of value out of. My favorite ones are the ones where people are like, oh, my God, that really helped me. That made a difference in my day, in my life, in my business.

So you said you don't love social media. So, you know, normally I talk about the five things here. We're actually starting to narrow them down to three just because, you know, that's this sort of new transition to our show here because every. Because three of them seem to be focused around each other, so we're kind of like lumping them together now. So what are some ways that you increase your listeners and engage with them if you're not feeling all that comfortable in social media?

So I just like social media to be efficient, and I find that it's not often efficient. So, again, everything that we do external is a part of our customer journey and walking people through, making a decision one way or another. And if they decide that they just want to be listeners or followers, that's fine, too. But we want them to at least make a decision in that process. And so we do use Instagram and LinkedIn to attract and to, you know, promote the podcast.

You know, as well as it becomes a referral. The podcast is a referral source in the sense that somebody's like, you should check out Tara. Go listen to her podcast. They listen to the podcast podcast, and then they come in the door that way, guessing on other people's Podcasts.

So now you do that all the time, right?

I do, I do, yeah.

See, now you feel bold about that. I'm so glad to hear that.

I do.

Well, good. Well. So, so, you know, it's still working to kind of engage the community, use it as a referral, use it as a way to warm up potential clients or warm up group members. So that, that's, you know, that's still a great way to be using social media topics. And you know, you mentioned you have few guests, but you do have a few on there. But how do you decide what's going to be a good topic? What kind of process do you use for that?

My clients questions, what I'm seeing happening in my group programs, things people ask me, things I just want to talk about. But again, we really follow a very specific, like a very specific sales process. So what we do a lot on the show is. Objection handling.

And that's how your topics are focused.

I get qualifying. Qualifying a lead.

Nurturing a lead, you know, so those are really getting them when they're in the buyer's process of that initial, the trigger incident, like the thing that happened, like, what's the pain point? Not the problem, but the pain point. So, you know, a lot of people come to me and they're tired, they don't know how to use their time, they're fatigued. So we talk about, you know, we'll talk about that or the eight stages of business was literally to help them assess where they are and know if they should join one of our programs.

I love that you call it pain point, not the problem. That, that just seems like a much more great way to approach your topics.

Well, they're. They're having the pain point before they even know what the problem is. So if you speak to the problem, you might miss them.

Exactly, exactly.

So you really have to back it up. That's something I've learned. I've been terrible at that, but I've really learned that over time.

Backing that up.

I love that.

Well, so making money, you know, hey, if we weren't the bold money revolution, we gotta talk some about some money here. So, you know, we. Some people look at that as straight making money off their show monetization. But really, what do you see the value? Where do you see the value of what your show is doing for your business and for you?

So I think that there is value in a number of ways. And I know like we talk about monetizing the show in, in lots of different ways. You could do ads Right. You can have sponsors and all that. But again, mine is my sales process externally. So I'm reducing my sales calls by about 80%.

Wow. So that's a big deal right there.

Because your.

It is really valuable. It is.

And I don't want to say so there's a lot of people out there who are like, never do another sales call again. And I want to be very clear that I don't believe in that because I think that there's a lot of great that can happen when you have a sales call. So I don't want to eliminate them completely, but I don't. I also don't want to put unnecessary barriers in the way for somebody who wants to buy and join a program of mine. So I'm primarily talking about my group program because if you don't, you know, work with me one on one, we do need to have a conversation. But by the time they even get on the call with me for a one on one call, which is a very high ticket offer.

How do I pay?

Right, right.

That's the conversation. Like, I just, you know, wanted to make sure that you're. You're real, you know, and here's my credit card. Right. So it's, it's, it's really. And we made that shift in 20002017 because I read Company of One by Paul Jarvis and he makes like one comment about, like, educating your audience. And I used to get so temperamental about that. Like, why do I have to educate them? And I just want to talk about what I want to talk about. No. So that one comment really shifted a lot for me. And now we just align it. A combination of aligning it to the customer journey and our sales process to really reduce the time on those sales calls. I think that there's a tremendous value in having these assets in reusing the audio in other places, in building upon the audio in our programs, as using it as a resource for our clients to continue to go back to pulling things out even after they might have been listened to and played. We're always like resharing something, you know, there's a lot of value in that. And there's a lot of. There's a lot of value in the goodwill.

Yeah, there is. You know, that care for your audience that I was mentioning before, you know, that goodwill goes a long way and kicks in. That law of reciprocity that says, wow, you served me so well, Tara. I loved what you said. I used it, it was effective, and now I want more.

It gives people something to Share and talk about.

Yeah, absolutely. Well, you know, we were talking about pain points there, and it made me think that, you know, how you started your podcast and the things that bothered you and the pain points that you had. What. What was your biggest pain point when you first started or what might have kept you from, like, you know, pulling the trigger and getting it started? What was the most difficult part?

Oh, my head. Trash.

I thought you might go there.

I spent three days in bed crying after I launched it.

Oh, no.

I was having such a vulnerability hangover.

I've talked down a lot of clients after they launched.

I'm sure.

I am sure the amount of people who want to redo their first episode is high. And it's mostly women, I have to say.

Yeah, listen. So as a kid, I was bullied.

I have adhd, so things just kind of tend to shoot out very impulsively, which, you know, is helpful sometimes. But my mom didn't appreciate it when I was a kid, so she always used to yell at me, filter, filter. Put a filter on it. And, like, I had to learn how to take that filter off, you know, in order to be visible in my business at all, obviously, so. And then obviously, you know, with a podcast and just a lot of fear, like, nobody's going to listen to it, I'm going to attract haters. Like, all the mindset stuff was really.

You've gotten away at the beginning now. So now what would you say the, you know, the hard part to keep going is.

Okay, that's a really good question. So for me, I'm very habitual. I'm very consistent. It's like my whole jam. It's like what I help business owners do. And I know that some people have trouble with that consistency. And it's not the consistency for me. It's making sure I'm taking the time and space away to be creative.

Because.

You don't want it to turn into programmatic.

Yeah. You know, and. And then I'm really listening and considering what. I do a lot of research and talking to people, and I try and be a very good listener and really pick up on, like, maybe a nuance of something or something that they're not even saying and talking about that on the podcast, really having those conversations that are going to be unique and different to all the other business coaches, all the other sales coaches that are out there. You know, how can I demonstrate creatively my uniqueness through this show? Because if I can't do that, then it doesn't really seem worth it.

Oh, that's so, so true. You know, you talk on your show a lot about, you know, the amount of time you review financials, you know, how often you check your bank accounts and stuff like that. There's a mindset issue to that. How about your show? How often do you review it? Do you take a periodic look at it? I'm very certain you do not watch your stats every single day.

Not every day, but weekly.

Weekly.

I do watch them. I do watch them weekly. Because, listen, what you measure gets improved upon.

If we're looking at it and we're understanding it. And it's not just the only metric. It's a part of a group of metrics that we have. And listen, those downloads, that's tricky stuff. I don't know. It's like one of the only metrics in my business that I'm like, I don't trust it. I don't believe it. I don't know. Right. So I do check in things weekly. I like to see what people are. I could tell when people are binging. I like to see what's most popular. It helps me come up with content and ideas of things to talk about. So I do. I do. I don't measure myself against it. So I want to be clear.

Like, downloads, your downloads are not you.

Right. This is not like the number on the scale or something like that. Like, I would not be. I would not have been able to do that probably in the beginning.

Yeah, absolutely. So are there some changes now in the future? Are you feeling real comfortable with the Bold Money Revolution brand and where things are going now, or are you going to make some changes to the show?

Oh, we're definitely going to make some changes in terms of content.

But we're.

Always really looking at that. We get smarter. We learn with every new batch of podcast episodes that we do because we batch. And then I take a step away, and maybe sometimes something comes up where I'm like, oh, no, I got to talk about this. And we're going to throw it out there, but we get smarter. We evolve business in the moment. There are things that are happening now that are relevant that we need to be talking about that maybe we weren't talking about before. So, yeah, so you keep saying we.

And there are so much, so many podcasters who come on the show who are all. They don't have much of a team. What does your team look like?

Yeah, so in terms of my podcast, I have somebody who. I have somebody who helps me with marketing. They really just sit in that kind of like A cmo. Like, I have a lot of ideas. I love to market, I love to sell, but, like, it's good to have somebody to bounce things off of, you know, what do you think? What are you seeing? You know, how would this land with you? And then it's the same person who does my production.

So you got it hand in hand. They know what's going to be in the episode. They know how it's going to go, and so then it's easier.

They're managing the dashboard and the project management. They're collecting the graphics from the designer, who's got graphics that are going along with the. With the show. They've got, like, the show notes person, you know, that kind of stuff.

Wonderful. So advice out there, other podcasters who are thinking about really using this to grow their groups and their programs and other things. What advice do you have for them?

The show's not about you.

I'm so glad you said that.

It's not about you. It's not about what you want to talk about. Listen, I like to talk about some things, too, that may or may not ever make it to the show. It's about adding value. It's about showing up and being in my highest level of service to the people who I want to support and who I care about, their success in the world. And it's about what they need and really making them the star of the show. And when we do that, we naturally start to create a show that is in alignment with how people are going to buy from you. You're leading with empathy. Right. And we want to always be mindful of making sure that it matches up with our sales, or else you're not leading them anywhere. You're not taking them on a journey. I always say my podcast is free for you, it's not free for me.

Right.

So I do want to make sure that it's having a return on the investment of time and money and energy that I'm putting into it, or else I wouldn't feel good showing up for it.

Absolutely. Tara Newman, you are a fantastic. You are bold podcaster. Bold Money Revolution is a fabulous show. Everyone should check it out. Thank you for coming on and sharing with us.

Thanks for having me, Tracy.

So there's so many things that I took away from this. You know, she reduces her sales calls by 80% and goes straight into more qualified conversations. That's just fabulous. She touches on pain points, not problems. You know, she has trouble believing in the metrics of podcasts that, you know, so many of us do and. And that. And I'm in the business, right? And so this is, you know, this is a good thing. It means that she's had to find value elsewhere. So Tara Newman is looking at her podcast as a part of her sales strategy. Her ability to warm up an audience, her ability to help them self qualify in the process, her ability to serve extremely well, her complete free offer. You know, I keep getting this again and again from my good friend Mike Wise, who's. Who's going to start his show soon. But he's a LinkedIn expert, and he and I have this conversation all the time. He's always like, that's a great lead magnet. And I'm like, yeah, I don't want to do it. I got a podcast on it, and that is my lead magnet.

Right.

And so that. That's kind of the way Tara is looking at hers as well, is like really looking at your show as being just chock full of these fabulous lead magnets, these amazing topics that are really going to serve an audience, help them make some immediate success and make them come back to you for the further conversation, because they're really ready to find out what more you can do for them and what they can do with you. That's a really great conversation. So I love what Tara's doing. The show is fantastic. Really great advice. I mean, I listened to some shows and I was like, oh, that sounds really, really smart, that I should definitely do that. So you're going to take some advice away, too. Have a notepad ready. I use my phone. I have a little notepad from all the different podcasts that I learned something from, and I have, like, little ideas there. I call it my idea journal, and it's right in my phone. That way when I'm listening, I can just flip over and jot down that note before I get it or jot down a quote. Sometimes I'll jot down a quote. And Tara's full of these great ideas in all of her episodes. So you're going to want to check out the Bold Money Revolution podcast. Tara Newman. So I am really excited about sort of the new format that we're shifting into here with the show. I'm, you know, we're not going to do the five things anymore. We're going to do more like the three things, as you heard, because I think that there's so much overlap in there. We were getting a lot of the same answers, and I don't. And, you know, I. I don't want to do the same thing again. And again, you know, I don't love to do that. I have to mix things up for myself. So now that we've hit over 100 episodes, I'm on the path to sort of revamping it. But I'd love to hear from you. What other things would you like to know about? I know that you guys love the B binge ability feature. Like when I talk about their binge factors, I know you love that because you are always commenting on it, but what else would you like? And if you're not following us on social media, you really should be. Go to Hebinge Factor everywhere, Facebook, Instagram. I am on Pinterest. I think it's at has design because that's still my old Pinterest. And so I kept it because it's really great. And that's has has design with two Z's. And we post out short little segment videos. So very likely the. The best quote that happened in is already in a short video there. So if you're looking for something to share, you want to share this episode with with friends or share something that happened or share the podcast and what you know, in this case what bold money revolution is about, share something that was said there. I guarantee you we probably already pulled it out into a video clip for you somewhere in the scope of our social media channels, so you will find it there. So we really appreciate you following us, sharing the show and sharing with other podcasters. And then if you haven't started your podcast yet, I hope that Tara removes some bar barriers for you. You know, let's take out some of those objections. Get rid of the head trash. Get started on your show today. And if you're already starting your show and you really want to come on mine and your head is getting in the way of thinking that you're not good enough, let me tell you, there's all kinds of ways we can help. There are ways that we will send you evaluation back on your show and say, here's why you're not right. Here's why you're perfect. And I think you'd be really surprised how many people are afraid to. To, I'm going to say, recommend themselves for my show and then turn out to be the perfect guests. They didn't even realize how perfect they actually already were. So get out of your own way, start your show, promote your show, and just keep podcasting. I'll be back next time with another episode of the Binge Factor.

You've been listening to the Binge the Binge Factor podcast For more information on podcasting and video casting success tips and tactics, please go to thebingefactor.com and be sure to listen to our other show for podcasters called Feed you'd brand. If you'd like to be interviewed on this show as well as featured in Tracy's column, please go to thebingefactor.com guest and apply.

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