TBL Episode 79: The Value of Conscious Capitalism on Your Business
David Wolf makes a return visit to Today’s Business Leaders to share the direction he is taking his business since he last appeared on the show, how to effectively build a podcast audience, why he decided to give back and more.
Playing with Emotions
David has long helmed a successful podcast, and he helps others do the same with his business, Podcast & Radio. When building an audience, David explains everything basically comes down to love and hate. Playing on cheap emotions, like fear and hate will trigger people and garner attention. However, this is not an effective long-term plan. Constantly barraging your listeners with fear will burn them out. “How we make people feel,” David explains, “is ultimately more important than what we know and what we do for them.” Bringing people into your environment and sharing the emotional side of the spectrum provides value and converts sales.
After listening to Howard Shultz speak, David was inspired to give back. He donates about 10 percent of the revenue from his podcast to RIP Medical Debt. This organization, started by former debt collectors, works to erase medical debt which is a leading cause of bankruptcy for many Americans. After meeting the founder, David was inspired to help, so each month he makes a donation. Giving as little as $100 can clear up to $100,000 in medical debt, making this a worthwhile way to do some social good.
Through this endeavor, David has figured out how to engineer conscious capitalism into his business. He is finding a balance between doing good and having a positive impact while also using his actions as a marketing technique.
Taking Things to the Next Level
In the last 6-8 months, David has experienced a conscious shift in his business. He is pulling back from the day-to-day work in order to grow his business. This is hard because his personal service is part of what makes his business unique. David still finds delegating a challenge, even though he has a solid team. However, he is learning as he progresses through this transition and has faith that he is working with the right people.
Reach out to David via email, LinkedIn or visit the Podcast & Radio site to learn more. You can find out more about Gabe’s company, Business Marketing Engine and the solutions provided or catch up on episodes of Today’s Business Leaders.