“Each time you end up on the facet of the bulk, it’s time to pause and replicate.”
— Mark Twain
For almost 15 years, I began nearly each public presentation with the above quote. In the beginning, it was a reminder to myself. It nonetheless is.
4 rating and 750+ episodes in the past, I began a podcast.
In 2023, The Tim Ferriss Present crossed a billion downloads. This previous April marked the tenth anniversary of the primary episode. It appeared nearly as good a time as any to pause and replicate.
Let’s kick it off with a bizarre graph and wild numbers:
listennotes.com/podcast-stats/
The dip in 2022 is just the resumption of pre-COVID tendencies, as 2020–2021 was an at-home anomaly. That stated, the pandemic interval noticed a few of the largest offers within the house, and it helped propel deal comps and mass media consideration to new heights, a whole lot of which caught round or at the very least closely rounded up. The celebrities, the advert {dollars}, the gazillion-dollar exclusives, the controversies… It’s all been outrageously thrilling to look at.
statista.com/chart/10713/podcast-listeners-in-the-united-states/
Once I began my podcast in April of 2014, there have been fewer than 200,000 podcasts listed on iTunes (as Apple Podcasts was referred to as again then). On the time of scripting this submit, there are greater than 4,200,000.
That represents a 20x+ improve, however there are different fascinating metrics to ponder. Right here’s one: greater reveals.
If we outline a “greater” present as any present with at the very least 100,000 downloads per episode, I might guess the full variety of such reveals has at the very least 100x’d. This can be a huge paradox of selection and discovery subject. Having a great present is not ok. Having an amazing present is not ok.
If you wish to survive within the mindshare of listeners, you want differentiation.
I believe that is mirrored in how effectively special-interest podcasts with a spotlight (e.g., The Drive with Peter Attia, Founders, Huberman Lab, Acquired) have finished lately relative to newer interview-format reveals the place almost something goes.
As is so typically the case, in the event you stand for every thing, you’ll be able to find yourself standing for nothing.
So, how do you differentiate your self if each particular person and their grandma is beginning a podcast?
In case you’re ranging from scratch, I believe selecting a distinct segment you could have a weird love for—and due to this fact endurance for—makes a whole lot of sense.
If, however, you could have a broader, interview-based legacy present, it may be somewhat tough. Maybe the enterprise is nice, however you see the writing on the wall and need to be forward of the curve. As I see it, there are at the very least a couple of choices:
(1) Begin a brand new podcast with a distinct segment focus. Sadly, I think I might get bored inside weeks or months, but it surely’s not off the desk…
(2) Pack up your tent and stroll off into the sundown looking for different adventures.
(3) Create new and higher guidelines.
I landed on #3.
Within the midst of a weekly ship cycle, it’s arduous to flee the collective pull of algo chasing, thumbnail tweaking, and particulars lengthy sufficient to zoom out. The waters have been churning at a fever pitch, ever altering and ever quicker. While you’re contained in the washer, it’s very arduous to step out and get perspective.
So I made a decision to take a sabbatical of roughly 4 months. It ended a couple of weeks in the past.
Through the sabbatical, I ended recording new episodes, republished a few of the best hits (e.g., Jamie Foxx, Arnold Schwarzenegger, Margaret Atwood, Jerry Seinfeld, and extra), and did a whole lot of considering.
The complete break allowed me and my staff sufficient respiratory room to consider the lengthy recreation. What will we need to do, and moreover, why are we doing this in any respect?
Since almost all the foundations are made up anyway, I requested myself a bunch of questions, together with:
What may this seem like if it had been maximally enjoyable?
What may this seem like if it had been simple?
If I get to do that for an additional decade, or needed to do that for an additional decade, what new guidelines may I create to maintain it fascinating?
In fact, these are implicitly “for me.” It’s a extremely private factor.
In my expertise, conserving it fascinating for me typically retains it fascinating for my beautiful listeners. On the very least, it’s the one means to make sure I’ve the passion required for endurance.
Positive, generally what-Tim-likes is just too unusual and misses the mark, however attempting to cater to the tastes of an summary “viewers” or the YouTube gods, with out being attentive to what you like, has despatched a whole lot of podcasts to the elephant graveyard.
And even in the event you handle to “win” that recreation, profitable is likely to be probably the most harmful.
Fairly than getting Outdated Yeller’d behind the barn, you could have simply sufficient earnings or traction or validation or progress to make it appear loopy to cease. How may you shut it down? Then you definitely alter to the creeping boredom and incremental positive aspects, and also you persuade your self that it’s all a value of doing enterprise. You begin by feeding the machine by means of the cage, solely to get up at some point and understand that you’re the one contained in the cage. For an excessive instance, learn this text on viewers seize, however it could take many types. Some are very delicate.
Media is a superb instrument and a cruel grasp.
Thankfully, that is NOT how issues should be.
Based mostly on all the above, listed below are some new guidelines that I’ll be implementing beginning as we speak:
No extra book-launching episodes.
The podcasting circuit has largely change into the identical authors showing on 15–30 podcasts in any given week or two for guide launches. It’s the trendy equal of a radio satellite tv for pc tour. For authors, I completely get it, however I’m over it, and I do know a whole lot of my podcast mates are over it. It’s boring for everybody.
So, I’m opting out. No extra book-launch episodes for some time.
If I make an exception, it’s going to possible require that each of the next situations are true:
– You’re a really shut buddy, that means we’ve identified one another for at the very least 10 years, we’ve stayed at one another’s houses, see one another a number of occasions a 12 months, and so forth.
AND
– The episode will come out a minimal of three months earlier than the guide’s publication date. Early could be a nice technique for authors. That is precisely what I’ve finished with previous visitors like Jocko Willink, who made his first-ever podcast look (actually, first public interview) on The Tim Ferriss Present in September of 2015. I urged we publish effectively earlier than his pub date as a result of this house would permit his writer to gauge pre-order demand and considerably improve the preliminary print run. His first guide, Excessive Possession, hit the New York Instances bestseller record, and the remaining is historical past. Even one month is kind of tight if abroad printing is concerned, and sadly, a whole lot of podcasters don’t respect embargos (crabs in a bucket!), so… at the very least three months upfront it’s.
90/10 barbell technique for future visitors.
The barbell technique is an strategy to investing popularized by previous visitor, writer, and self-described flâneur Nassim Nicholas Taleb.
The metaphor of the barbell is apt as a result of weights are positioned on the far ends. Within the investing context and in easy phrases, the vast majority of your belongings is likely to be in very conservative positions with the remaining belongings in very high-risk, very high-reward bets. As an example, municipal bonds and angel investing. The center is empty.
However how may you apply this to a podcast? It’s truly very simple. Simply search for extremes. I apply the barbell strategy throughout my life and enterprise.
Within the case of The Tim Ferriss Present, I’ll goal to interview visitors who’re both:
Recognized by greater than 90% of my viewers (e.g., Jeff Bezos, Steven Spielberg, Oprah Winfrey)
Or
Recognized by lower than 10% of my viewers (e.g., a few of my favourite previous episodes, like Dr. BJ Miller, Boyd Varty, Dr. Sue Johnson, or Elan Lee)
I’m attempting to keep away from the messy center, which is a Tokyo subway automotive of repeat visitors on the circuit. It’s crowded, and I don’t like crowded. Cue The Blue Ocean Technique.
Prioritizing residing legends.
I like individuals who’ve mastered a craft and who seldom—or by no means—do podcasts.
I actually get pleasure from interviewing masters who’ve produced excellence decade after decade. This typically means such folks have some grey hair, and I might like to have a good time them and immortalize their knowledge whereas they’re nonetheless sharp. The final particular person holding a practice, the tenth technology of X, a reclusive genius… you get the thought.
Experimental hyperdrive.
I’ve experimented quite a bit on the present prior to now, and I’m going to place that into hyperdrive. It’s merely extra enjoyable.
I’ve finished podcasts in saunas (e.g., Rick Rubin’s first-ever podcast), stay Q&As, walk-and-talk episodes within the mountains, drunk-dialing followers for shits and giggles, interviews in taxis in Uzbekistan, audiobook excerpts, and extra. It’s simple to imagine that slick, labor-intensive, polished episodes get probably the most downloads, but it surely’s merely not true. And way more necessary, the experimentation retains issues enjoyable and contemporary. In spite of everything, I nonetheless think about this the early days for podcasting. Lower than one-third of terrestrial radio advert spend has landed in podcasting to this point, and there’s a lot of room left to innovate and make unusual issues work.
In case you solely keep on with what has labored, you may miss one thing that works an entire lot higher.
So, if you wish to hear to at least one podcast that delivers quite a lot of enjoyable stuff in quite a lot of codecs, that’s the subsequent chapter. Perhaps I ought to rebrand as The Tim Ferriss Selection Present… or make a mobile-only TimTim WalkWalk? That final one is for the oldies.
So, let’s get this celebration began.
I’ll proceed so as to add to those insurance policies and this weblog submit, however within the meantime, I might love your ideas:
What would you prefer to see or hear on the podcast?
Are there any experiments that will tickle your fancy? Or podcasts or codecs I ought to see for inspiration?
Any visitors that match the 90/10 barbell technique? Residing legends?
Different ideas or ideas?
Please let me know within the feedback beneath! Feedback listed below are much better than social media, as I’ll truly see them. And thanks for studying this far.
All one of the best to you and yours,
Tim
P.S. In case you haven’t already, you’ll be able to subscribe to The Tim Ferriss Present on Apple Podcasts, Spotify, YouTube, or wherever you discover your audio niblets.
Associated
The Tim Ferriss Present is one of the preferred podcasts on the planet with multiple billion downloads. It has been chosen for “Better of Apple Podcasts” 3 times, it’s typically the #1 interview podcast throughout all of Apple Podcasts, and it has been ranked #1 out of 400,000+ podcasts on many events. To hearken to any of the previous episodes at no cost, take a look at this web page.
