What I Learned About Money, Personal Finance and Podcasts From Farnoosh Torabi

  
I’ll never forget the first thing personal finance journalist and podcaster Farnoosh Torabi said to me a few months before I launched our new weekly podcast, “How Do We Fix It?”.

“What is going to be your target audience?” she asked, looking me straight in the eye as we sat down for lunch at a restuarant in Midtown Manhattan.

Well, I have to admit that 7 shows in, I’m still working on that.  

Unlike many podcasts built around niche markets, such as health, wealth, relationships, or being a great entrepreneur, ours is general interest.  Our listeners don’t have exactly the same interests, or three or four favorite Twitter feeds and Facebook pages that they all go to.

The community we are building week-by-week wants solutions to many different problems that bug all of us – whether it’s the challenge of raising kids with good values and curious minds, the struggle of getting out from under a mountain of debt, or how to end boredom in the workplace. 

We’re not in the blame game.  Our show has a positive, independent point of view that shuns the old left vs. right mindset.  

I’ve been watching my friend Farnoosh rather closely to see what ideas we can learn from her about growing an audience.  

The first thing I learned is that she’s a brilliant marketer, who does a great job of using Twitter and the So Money website to promote herself, her guests and ideas.  Farnoosh is also the real deal who cares about her listeners.  In a medium as intimate as podcasting, being authentic is vitally important.

This week I was a guest on her daily show.  After years of interviews where I ask the questions, it was a bit of a shock to have the tables turned!  And Farnoosh was very clear about she wanted from me:  life lessons and good stories about my experience with money.

Her show’s example has helped Jim, Miranda and I (The “Fix It” team) with our podcast.  How Do We Fix It? isn’t just about good ideas and concise solutions.  We also need to tell personal stories.  And we want listeners to give us guidance and suggestions about where our show should go next. 

Unlike the old days, when broadcast and print journalists simply put out a well produced finished product, podcasts are more spontaneous and part of a conversation.

To build support, we’ve just added a pop-up page at our website, urging listeners and supporters to sign-up and suggest ideas for future shows.  Having subscribers who rate our shows in iTunes is vitally important to us.  

In the near future, How Do We Fix It? may launch a Kickstarter page to raise funds to get the message out about our big idea. Our show is about solutions.  We welcome lively minds with fresh ideas, who want to make our country better. That’s why we also picked Farnoosh to be our guest this week.

   

 
Five years after the worst of the recession ended, tens of millions of Americans are still struggling to make ends meet.  For many the assumptions of a comfortable life were swept away with the mortgage mess and near financial collapse in 2008.

 Because the subject can be painful, it’s easy to be in money denial.  Farnoosh makes the case for making financial management a part of your daily life. “A lot of us don’t even take that first step of acknowledging money is important and that it can be a means to achieving a lot of life’s goals,” she says. 

“If you have a story in your head that says ‘I’m not good enough, I’m not rich enough, I can’t work the job that will pay me enough money… Those are just barriers that you’ve created in your mind that are keeping you away from being able to reach financial freedom.”

Farnoosh is not suggesting that we obsess about money, and give it primacy over love, relationships and family.  “You don’t have to give up your morning latte to achieve your goals.”

 

I’ve Got a Blog. So, Why Am I Launching a Brand New Kick-Ass Podcast?

  

 Co-host Jim Meigs and I on the How Do We Fix It? Facebook page.


We’re in the final stages of building a brand new weekly podcast, and I’m pretty excited about it.  If all goes well, How Do We Fix It? will be up on iTunes by June 10th.

That would be exactly two months to the day since I left ABC News Radio.

Why bother? Why throw our podcast pebble into the frenzied media firmament?

Unlike many news and public affairs shows, where the tired old left vs. right arguments are hurled across the table, our half-hour podcast is a spontaneous conversation about new solutions and fresh thinking.

Rather than shouting at each other, we take some of the best ideas out there, no matter where they come from. 

Jim Meigs and I are both good friends, who’ve spent decades in the news media.  Jim has been editor-in-chief of four magazines, most recently Popular Mechanics.  I covered politics, business, and finance for ABC News Radio.

We don’t agree on everything (far from it!).  But Jim and I are both practical guys who think there’s a big hole in the market for a show that tackles tech, teaching, taxes and many other controversial matters in a positive way. It’s time for a show that sheds more light than heat.
  
We’re building a website for our podcast at http://www.howdowefixit.me


In the first episodes of How Do We Fix It? we’ve had a lot of fun learning from some of the best in the business.  

Phil Plait, who writes the highly popular Bad Astronomy blog at Slate gives us some great insights into how to fix the space program.  Elizabeth Green, author of the excellent book, Building A Better Teacher, has solid common-sense advice for parents who worry about the quality of teaching in public schools.  And motivation expert Ron Friedman has fascinating thoughts on how to create a happier workforce. Those are just three of our shows.

Jim and I are thinking outside the box and going beyond labels.  How Do We Fix It? talks about practical ways to put theories into practice.

We’ve also had a ton of help from our producer Miranda Shafer, audio mixologists Jim Briggs, Denise Barbarita of MONOLisa Studio, and Joe Plourde, as well as composer Lou Stravinsky. Thanks all!

These shows came about after years of lively chats that Jim and I had together over dinner, coffee or simply out hiking together.  We want to make the world a better place, and are tired of politicians, pundits and others shouting the same phrases and making the same mistakes over and over again.

We hope you’ll listen and suggest new episodes and smart people who we can have as guests. Pull up a chair and join the conversation. Like and add your suggestions to our Fix It Show Facebook page, and please follow @fixitshow on Twitter.

Instead of kicking up a lot of dust, we like to bring people together as we talk about the stuff government, businesses, communities and all of us can do to improve our lives. 

That’s something new, people!