Creating a Podcast and Growing Into a Thriving Business

Starting a podcast can be exciting, but turning it into a business that actually makes money? That’s where many podcasters hit a wall. It’s tough to find your niche, attract sponsors, and figure out how to make your show financially sustainable—all while keeping your passion alive.

In this episode, we dive into Joe Crane’s journey—from discovering podcasts on motivational CDs to creating his own show that connects veterans with resources, inspiration, and community. He shares actionable advice on finding your niche, monetizing through sponsorships and services, and why hiring a mentor or coach can be a game-changer. You’ll also hear about the lessons he’s learned along the way, including the importance of focusing your time and resources on what really matters.

Episode 315 Guest

Joe Crane retired from the Marine Corps in 2013 after 24 years of service.  He was an AH-1W Super Cobra attack helicopter pilot and completed two combat flying tours in Iraq.  Joe is now an airline pilot and host of the Veteran On the Move podcast.  Veteran On the Move empowers veterans and their families through entrepreneurship by introducing them to successful entrepreneurs from the military community through thoughtful and meaningful podcast interviews.

Key Takeaways From This Episode

1. Finding Your Niche is Non-Negotiable

Joe emphasizes the importance of niching down. When he started “Veteran on the Move,” he wanted to create a podcast about entrepreneurship but quickly realized the need to focus more narrowly. By zeroing in on military veterans transitioning into entrepreneurship, Joe not only identified his target audience but also carved out a space where he could provide real value.

If you’re starting a podcast, ask yourself:

  • Who is my audience?
  • What problem am I solving for them?
  • How can I make my content uniquely relevant to their needs?

2. Mentorship and Coaching Are Game-Changers

Joe credits much of his success to hiring John Lee Dumas, a well-known entrepreneur and podcaster, as his mentor. With guidance from someone who had already achieved success in the space, Joe was able to fast-track his learning curve and avoid common pitfalls.

Investing in a coach or mentor—especially one experienced in your field—can save you time, money, and frustration. It’s a lesson Lacey echoes as well, highlighting how experts can help you focus on the activities that bring real results.

3. Monetization Takes Time and Strategy

Joe’s podcast didn’t start making money right away, and he advises patience when building an audience. He shares that sponsorships became a key revenue stream for his show, but only after years of consistent effort and visibility. Here are some monetization methods discussed in the episode:

  • Sponsorships: Partner with brands that align with your audience’s interests. However, be mindful of the commitments and ensure the partnership is worth the effort.
  • Selling Products or Services: If you already have a business, use your podcast as a marketing tool to sell courses, coaching, or other offerings.
  • Affiliate Marketing: Share products or services you genuinely use and believe in, using affiliate links to earn commissions.
  • Mastermind Groups: Build a community of like-minded individuals and monetize through shared learning experiences.

4. Why Podcasts Need to Be on YouTube

Joe highlights a growing trend—many listeners are now consuming podcasts on YouTube rather than traditional platforms like Apple Podcasts or Spotify. Even if your show doesn’t have a video component, having a presence on YouTube can help you reach new audiences.

Pro Tip: You don’t need professional video production. A static image or slideshow accompanying your audio can work well on YouTube.

5. Lessons Learned Along the Way

Both Joe and Lacey share candid lessons from their podcasting journeys:

  • Avoid wasting time on tasks that don’t move the needle.
  • Hire experts when needed, whether for systems setup or technical support.
  • Focus on building relationships—whether with sponsors, guests, or your audience.

Resources Mentioned in the Episode

Related podcast: How to Build Your Path to Financial Freedom (with John Lee Dumas)

Wrapping Up Creating a Podcast and Growing It

Starting and growing a podcast takes time, effort, and strategy, but with the right mindset and tools, it’s possible to turn it into a thriving business. Whether you’re a seasoned podcaster or just starting out, this episode offers valuable insights to help you take your show to the next level.

If you’re ready to dive deeper into the world of podcasting and learn from Joe’s decade-long experience, listen to the full episode and start taking actionable steps toward your podcasting goals!

Episode 315 Time Stamps

00:39 Welcome to the Milmo Show
01:07 Joe Crane’s Podcasting Journey
02:46 Starting a Podcast: Challenges and Advice
07:37 Monetizing Your Podcast
10:54 The Importance of Mentorship
23:10 Tools and Resources for Podcasters
27:30 Game Time: Who Am I?
29:29 Conclusion and Goodbyes

Related: My Podcasting Look Back: 300 Episodes and Counting

MILMO Show Sponsor

Support for the MILMO Show is provided by Navy Federal Credit Union. It’s the holiday season or, as I like to call it, the spending Super Bowl. Expenses add up quickly this time of year. If you’re spending with Navy Federal’s NEW cashRewards Plus card, you’ll earn unlimited 2% cash back on every purchase. When you spend $2,000, you’ll receive 200 dollars cash back and a Walmart Plus annual membership. You can learn more at navyfederal.org.

Got Money Questions?

If you have questions about money or entrepreneurship, please fill out this form, and Lacey will answer them on the show and send you a free MILMO t-shirt!

Related Podcast

Learn how to make money woodworking with tips on pricing, marketing, tools, and building a sustainable business, even while living a mobile military life
How to Make Money Woodworking

Woodworking can be a deeply fulfilling hobby, a practical skill, or even a powerful form of therapy. But turning it into a business? That’s a whole different challenge. Many aspiring makers struggle to bridge the gap between creativity and profitability, especially when faced with the realities of tools, pricing, and.
Navigate into civilian life, from career planning to entrepreneurship, and learn how to build a successful path after military service.
Navigating into Civilian Life and Veteran Ventures

Leaving the military is a huge transition, and for many, the hardest part isn’t just finding a job—it’s figuring out what comes next. Do you start a business? Go back to school? Jump straight into the civilian workforce? The options can feel overwhelming, and there’s a lot of advice out.
If you’re feeling overwhelmed trying to run your business alone, hiring freelancers for your business can be a game-changer.
Hiring Freelancers for Your Business

Starting and running a business solo is difficult even for the most knowledgeable and disciplined. It’s hard to find the time of day and mental fortitude to be a jack of all trades. Hiring help can seem scary when you aren’t sure if you’ll make enough to pay them. In.