For many, turning a hobby that they love into a paying business is the ultimate dream. This week I speak to Dan Moylan & Michael Normanton of The Square Ball, who’ve made that dream come true. Listen how they describe how personal financial problems demanded that it became a paying success, the multiple revenue streams that power the business, the impact promotion had on the business and the growing pains, including the effect on the business two major personnel leaving. And of course, the madness of Leeds United. For more information on our sponsors, YFM Equity Partners, please visit www.yfmep.com (and when you contact them tell them Phil from Leeds Business Podcast sent you!) INTRODUCING DAN & MICHAEL Dan Moylan and Michael Normanton are co-owners of The Square Ball. Dan Moylan is a former nightclub and radio dj having worked previously at Metro Radio and GHR North. Michael Normanton previously worked at ITV selling advertising before working full time on The Square Ball. EPISODE HIGHLIGHTS [00:02:00] How Dan and Michael found their way to The Square Ball [00:08:45] The finances in the early days and quitting jobs for the business [00:16:00] Burnout and debt and the necessity to make it work, and bringing staff in full time [00:22:00] The importance of Leeds United getting promoted [00:24:40] The importance of Covid in the development of the podcast [00:28:00] The various revenue streams of the business [00:31:30] The effect of Leeds United’s performance on revenue [00:34:00] The growing pains of becoming a ‘grown up’ business and major [00:37:00] The issues caused by two main personnel leaving the business (and the solutions) [00:49:30] Business Surgery [00:59:00] The business strategy going forward [01:04:00] Is making a hobby into a business a problem? 7 KEY TAKEAWAYS & BUSINESS LEARNINGS • It’s important to keep reinvesting profits to develop the product • Audio advertising rates are 7/8 times higher than video • The more the business grows, the more demands it places on you • There’s always ‘f…in’ something • If you can’t not be there, you’ve got a job not a business • They can’t all be 10/10. As long as they’re 7/10, or more, most of the time, that’s OK • The key to growing a podcast is to think of your listeners in 3 categories; gold, silver and bronze 6 COMMENTS TO LOOK OUT FOR “The original idea was that the podcast would get people interested in the fanzine. That’s now flipped.” “I’m getting made redundant. Give this a go or get a proper job” “It’s fine doing it part-time until ‘life’ gets in the way’ “I was under so much pressure financially and professionally” “Going down might be one of the best things that happens to your business” “Authenticity is key” VALUABLE RESOURCES FOR YOU Website: www.leedsbusinesspodcast.com LinkedIn - https://www.linkedin.com/company/leeds-business-podcast/ Work with Phil - www.philfraser.co.uk Website: https://www.thesquareball.net/ LinkedIn: https://www.linkedin.com/in/dan-moylan-0990b62a1/ Shout out: a...