The Untold Secrets of Building a Multimillion Dollar Podcast
Episode 265 | Insider Secrets to a Top 100 Podcast | Courtney Elmer
0:06 - The One Thing Keeping Most Podcasters From Making it Big
3:01 - The Surprising Idea that Launched Entrepreneurs on Fire
6:05 - Two Top Mistakes New Podcasters Make (and How to Avoid Them)
14:39 - Following JLD's Strategy From $0 to $100K+ Months to Profit From Your Podcast
Behind the Mic: How John Lee Dumas Built a Multimillion-Dollar Podcast Brand
It’s easy to look at today’s top podcast hosts and think, "Wow, they had it easy." But deep down, we know that’s not the case. Even the biggest names in the game started from zero and faced the same doubts, fears, and setbacks as you.
That’s why I invited John Lee Dumas to join me for this episode and unpack the REAL story behind "Entrepreneurs on Fire" — how it almost didn’t happen, and how he battled massive self-doubt to build a multimillion-dollar podcasting empire from scratch. His story proves that even if you start from zero with no audience, no experience, and no cash flow, a podcast can be your ticket to massive growth.
So, if you're feeling that gap between where you are now and where you want to be with your podcast, keep reading — because you might be closer to success than you think.
The One Thing That Keeps Most Podcasters From Making it Big
Let’s be real: starting a podcast can feel downright terrifying. John felt this way, too. He says, “[The thing that kept me from starting] was just straight-up imposter syndrome. I knew I’d be a bad podcast host. I knew I’d stutter, feel nervous, and sound like a total newbie.” But he didn’t let that stop him. As he put it, “[I knew if] I wanted to be a successful podcaster, I had to start podcasting — even if I was bad at it in the beginning.”
John’s advice? Don’t make the mistake of waiting until you feel ready. Ready is an illusion. “I was scared. I knew it would take so much work. I knew it might fail,” he recalls. “But I also knew the only way to get good at something is to actually do it.” So, if you’ve been holding back on launching your own show, remember: success doesn’t come from waiting for the perfect moment. It comes from making the choice to take the first step.
The Surprising Idea that Launched Entrepreneurs on Fire
Here’s what made John’s podcast stand out: he filled a gap that at the time, no one else was filling. “My favorite shows were releasing episodes once a week, and it just wasn’t enough for me,” John recalled. “I thought, ‘What if I created a daily podcast that would give people like me the content they crave?’”
That’s when "Entrepreneurs on Fire" was born. John didn’t follow the crowd. He went where there was no crowd at all — a daily show that gave listeners exactly what they were looking for. “I went all in,” John said, “because I knew there was a void that needed to be filled.”
While you don’t need to have a daily podcast to be successful, what you do need is to offer your listeners something they can’t get anywhere else. So, if you’re thinking about starting a podcast, think about your audience. What’s missing in your niche? What do they need that they aren’t getting? What unique angle or fresh perspective can you offer that others aren’t? That’s how you find your space in a crowded market and turn listeners into loyal fans, customers, and clients.
The Biggest Mistakes New Podcasters Make (and How to Avoid Them)
Many think they have to be perfect right away. When they don’t see immediate growth, they give up and quit too soon. But here’s the truth: your early episodes won’t be great. And that’s okay. In fact, it’s expected. “The key is to stay committed,” John emphasized. “The more you do it, the better you’ll get.”
But John also points out two big mistakes that trip up most beginners. First, they expect instant success. “I was nine months in before I made a dime,” John shared. "People think you just launch, and boom, you’re rolling in money. But that’s not how it works.” It’s true that podcasting is a long game. It takes time to build an audience and start seeing returns — but when you stay focused on mastering your craft, it will eventually happen.
The second mistake? Not improving with every episode. “At first, I was a nervous interviewer, fumbling my words, feeling like I was out of my depth,” John admitted. But instead of letting that hold him back, he saw each episode as a learning opportunity. “It took me 480 episodes — a year and a half of daily podcasts — before I felt like I was finally getting the hang of it.”
So before you hit record, know that you won’t be an overnight sensation — no one is. If your first few episodes feel like a hot mess, that’s normal. Instead of getting stuck in perfectionism, focus on progress. Each episode is a chance to refine your voice, build deeper connections with your audience, and position yourself as a leader within your niche.
John didn’t earn millions of downloads by worrying about sounding perfect — he got there by pushing past the awkward silences and fumbled questions and showing up, episode after episode. Your job? Show up, keep going, and make every single episode better than the one before it.
From $0 to Six-Figure Months: Profiting from Your Podcast
So how did John turn "Entrepreneurs on Fire" from a beginner podcast into a multimillion-dollar business? “The first nine months, I made no money. None,” John admitted. “But then in month 13, we hit our first $100,000 month. And since then, we’ve never had a month below six figures.”
If you’re wondering how to get your podcast to that level, John's advice is straightforward: focus on building trust with your listeners like your business depends on it — because it does. “We publish monthly income reports,” John explained. “We show our listeners what’s actually going on behind the scenes. What’s working, what’s not.”
Monetizing a podcast is more than just building a marketing funnel around the show to turn listeners into clients, or chasing sponsors or ad deals. It’s about being real with your listeners — no smoke and mirrors. That kind of honesty builds trust and loyalty — way more than tacking a series of ads on your show ever will. That’s how you build an audience of dedicated listeners who become your biggest supporters.
Why Your Business Needs a Podcast
Take a page from John’s book: a podcast isn’t just a platform for your voice. It’s a powerful tool that positions you as the go-to expert in your field, draws in the right listeners, and creates opportunities for growth that other mediums just can’t match. He says, “If I could go back and do it all over again, I’d double down. I’d spend more time behind the mic, guest on more shows, and maximize every opportunity to get in front of my audience.”
If you’re serious about growing your business and expanding your reach through your podcast, it’s not about winging it; it’s about being strategic from day one. Know your audience, find the gaps in the marketplace that you can fill, and use your show as a platform to deepen relationships and drive results.
And if you’re ready to learn how to get more listeners choosing your show over the competition, be sure to follow Insider Secrets to a Top 100 Podcast on your favorite podcast app so you never miss a new episode.
Or if you’re ready to scale your podcast growth and want our proven strategy to help you reach more new listeners and turn those listeners into leads and sales, book a free strategy call with our team to find out if you’re a fit for PodLaunch® — we’re here to help.
Up Next:
Think you need big sponsors to make money from your podcast? Think again. In the next episode, we're diving into smart, creative ways to turn your show into a revenue stream — especially if you have a small audience. If you’re ready to start making money from your podcast, don’t miss it!
