Living The Red Life: Why It’s NOT Too Late to Start a Podcast w/Justin Colby

Hosted by Rudy Mawer – Released on February 6, 2025

In this enlightening episode of Living The Red Life, host Rudy Mawer engages in a compelling conversation with Justin Colby, a seasoned entrepreneur and podcaster who has successfully built two of the top 10 podcasts in his respective categories. Together, they delve into the transformative power of podcasting, offering valuable insights for entrepreneurs and online business owners eager to elevate their brands and create lasting legacies.

1. Introduction to the Episode

Rudy Mawer sets the stage by introducing Justin Colby, highlighting his impressive achievements in the podcasting world and how he has utilized his platforms to grow a substantial coaching community and brand.

Rudy Mawer [00:36]: "Today, my friend Justin's joining us here in the office, and we're going to dive into the world of podcasting and monetizing and building a brand from podcasts."

2. Justin Colby's Entrepreneurial Journey

Justin shares his diverse background, transitioning from door-to-door sales to building a real estate brokerage, and ultimately leveraging podcasting to establish his brand.

Justin Colby [01:54]: "I've been around the entrepreneur space. I'd never had a W2 job... I went directly into sales at a college, which landed me into door-to-door sales... that challenge led me into real estate because I had an opportunity to build a brokerage."

He recounts the inception of his first podcast, Science of Flipping, and how it paved the way for his subsequent ventures, including a bestselling book and the Entrepreneur DNA podcast.

Justin Colby [02:36]: "I started a podcast about 11 years ago called the Science of Flipping Podcast... that all started with the original podcast, which created a coaching company, which then recently created another podcast called the Entrepreneur DNA."

3. The Right Time to Start a Podcast

A central theme of the episode is the urgency and relevance of starting a podcast now. Justin emphasizes that the optimal time to begin is immediately, dispelling the myth that one might be too late.

Justin Colby [04:11]: "When's the right time to plant a tree? Right. Yesterday was. So if it's not yesterday's today, go get started."

Rudy echoes this sentiment, encouraging listeners to overcome perfectionism and take actionable steps to launch their podcasts.

4. Overcoming Barriers: Perfectionism and Imposter Syndrome

Justin and Rudy discuss common hurdles such as perfectionism and imposter syndrome that deter potential podcasters. They advocate for starting with available resources, even if they are modest, and iterating over time.

Justin Colby [04:43]: "You might feel like you're late. You might feel like it’s already passed. The wave is still going. The money is still pouring into it."

They highlight the importance of authenticity and personal passion in choosing podcast topics, ensuring sustained content creation and genuine engagement.

Justin Colby [10:45]: "Follow your passion... you'll be able to create a lot of content and enjoy."

5. Maximizing Podcast Content: Building a Content Ecosystem

The conversation explores how to effectively repurpose podcast content across various platforms to build authority and expand reach. Justin illustrates the concept of an "ecosystem," where podcast episodes generate clips for social media, YouTube shorts, and more.

Justin Colby [05:21]: "It becomes an ecosystem. Great. Maybe a longer version goes over to YouTube and maybe the shorts on YouTube. So to me, it's just a great way to be able to create the authority."

Rudy adds that this multi-platform approach enhances content visibility and reinforces the brand’s presence.

6. Monetization Strategies for Podcasts

Justin and Rudy delve into diverse monetization avenues available to podcasters. They discuss the potential of ad placements, coaching programs, subscription models, and leveraging podcasts to drive sales of other products.

Justin Colby [15:34]: "That's a way to monetize it. Just don't always do it in every episode."

Rudy emphasizes the long-term financial benefits of consistent podcasting, contrasting it with the often fleeting returns from paid advertising.

Justin Colby [08:53]: "There's a longer tail to it. If you stay consistent, you're going to reap the financial rewards."

7. Building Connections and Opportunities Through Podcasts

A significant advantage of podcasting, as highlighted in the episode, is the ability to connect with influential individuals and open doors to new opportunities. Justin shares anecdotes of forming genuine friendships and business partnerships through his podcasting endeavors.

Justin Colby [22:18]: "They have genuine friendships because I'm not asking you for anything. You're not asking for me. And that friendship starts to happen."

Rudy complements this by illustrating how podcasting fosters a network of valuable connections that can propel business growth.

Justin Colby [23:38]: "It just will create more and more opportunities and will more open more business opportunities."

8. Final Tips and Resources

As the episode wraps up, Justin offers actionable advice for aspiring podcasters:

• Choose a Topic You’re Passionate About: Ensures consistent and enjoyable content creation.
• Leverage Modern Tools: Utilize platforms like ChatGPT for content production and distribution.
• Be Patient and Persistent: Embrace the long-term benefits without fixating on immediate results.

Justin Colby [12:48]: "...limit this competitive comparison to Rudy or Justin and realize, like, I'm doing this for me. It's authentic to who I am."

Rudy directs listeners to Justin’s podcasts and social media for further engagement and resources.

Justin Colby [25:19]: "I'd encourage you to start just simply at Instagram... I have the Science of Flipping podcast on Apple called the Science of Flipping. I also have the Entrepreneur DNA on Apple."

Key Takeaways

• Start Now: There’s no better time than the present to launch a podcast.
• Overcome Perfectionism: Begin with available resources and improve over time.
• Leverage Content Across Platforms: Maximize reach and authority by repurposing podcast content.
• Monetize Strategically: Utilize diverse revenue streams like ad placements and coaching programs.
• Build Genuine Connections: Use podcasting as a tool to form meaningful relationships and partnerships.
• Stay Authentic and Passionate: Choose topics you love to ensure consistency and authenticity.

Notable Quotes:

• Justin Colby [04:11]: "When's the right time to plant a tree? Right. Yesterday was."
• Justin Colby [10:45]: "Follow your passion... you'll be able to create a lot of content and enjoy."
• Rudy Mawer [07:38]: "Donald Trump is getting on podcasts. Like, it's working, it's happening."
• Justin Colby [15:34]: "That's a way to monetize it. Just don't always do it in every episode."
• Justin Colby [23:38]: "It just will create more and more opportunities and will more open more business opportunities."

This episode serves as a comprehensive guide for individuals considering starting a podcast, underscoring its potential as a powerful tool for brand building, monetization, and networking. Justin Colby’s journey exemplifies the enduring value of consistency, authenticity, and strategic content utilization in the evolving landscape of podcasting.