The world doesn’t seem to run out of podcasts. It feels like there’s a new podcast out there being released every day or so. All you really need is a microphone, a computer and a program that helps you record the audio. A podcast can be literally about anything you can think of. There are no wrong or right ways to start a podcast. As soon as you hit record, you can basically talk about the most random stuff that you can think of. You probably will gain a few listeners from that.
John Lee Dumas is the host of the Entrepreneur on Fire podcast. He was born in the state of Maine. He seemed to have lived a fairly normal life there. He went to college with the help of a military scholarship. Shortly after he spent a total of eight years in the army. In those eight years, he did an 13-month tour of duty in Iraq. Eventually, he went back home to find a job.
He actually tried to go to law school but he only managed to stay for one semester. After that he went to work for an insurance company in Boston for a year and a half. Then he moved to New York City to work for a tech startup. It seems that he didn’t stay that long in the stuff he went into. Eventually he moved to San Diego, California.
Once he was in San Diego, he started to work in real estate. Unfortunately, it happened during the housing market crisis in 2009. It was through that entire ordeal that sort of planted a seed to the kind of mindset that will inform his career path.
Since real estate agents usually drive around going from property to property, John would obviously spend a lot of time in his car. Usually when I am on a long commute, I already have a bunch of podcasts ready to play. But enough about me. A bunch of his friends suggested that he listen to podcasts. Podcasts were already a few years into it. But it didn’t have the scope that it has now. Fortunately enough, John tried it out. And the rest, as they say, was history.
Well, not exactly. Since he was new to the whole, he tried out the usual types of podcasts that radio stations like NPR would provide. Then he listened to some podcasts that were a bit closer to what his own podcast would be like. Then he had the idea to come up with a daily podcast that interviewed successful entrepreneurs. And that’s where the idea for Entrepreneur on Fire began.
He basically put all of his effort into the podcast. It’s really hard to start any podcast. Because you are sort of reliant on the amount of people listening in order to get people to sponsor you. According to the timeline that is somehow include in the about page for the podcast’s website. It took him about eight months before he got sponsors. In the months after, he started to earn $100,000. The success slowly came in. He started hiring more people, he launched new stuff that’s connected to the podcast.
On his website, there’s actually a ticker that shows how much the podcast has earned every month. Somehow he has earned more than a million just six months into 2022. That’s a certain level of transparency you don’t normally see from podcasts. I think income statement reports are usually shared internally, unless there are investors involved.
It’s no wonder that John Lee Dumas has an estimated net worth of $3,000,000. Even four years into the whole podcast enterprise, he and his wife Kate have managed to buy a home in Puerto Rico, which also serves as the podcast’s headquarters. Over the years, it seems like podcasts have been a relatively lucrative market. It’s so interesting to see people putting so much money on a thing that’s normally listened to on a commute.
Aside from the advertising revenue, the other revenue streams that John Lee Dumas and the Entrepreneur on Fire podcast have are a bunch of online classes that teach you how to start a podcast and even books. But the advertising revenue is what really takes up a huge chunk of the revenue they earn.
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