Turning Podcast Guests Into a Client Resource Library | Larry Sprung

Larry Sprung: [00:00:00] ever since we've been leaning into that joy.

, Concept and we've integrated into our practice and ever since doing so, we've seen a lot of success, not only with the podcast, but also on the wealth management side, because at the end of the day, the things we're talking about, whether it's money or financial situation at, at the end of the day, people want to use that as a tool to drive joy in their lives.

Sadaf Beynon: welcome back to the Podjunction podcast. It's a show where business leaders share how they use podcasting to grow, connect, and build their brands. Today I'm speaking to Larry Sprung. Larry is founder of Mitlin Financial, host of the Mitlin Money Mindset Podcast and author of the book Financial Planning Made Personal.

Lawrence is someone who truly understands how to build trust and long-term relationships, both in business and through his podcast. Larry, welcome to the show.

Larry Sprung: Thanks for having me. Sadaf. Pleasure to be here.

Sadaf Beynon: Thank you so much., Larry, [00:01:00] first of all, tell us a bit about your business and then how the Mitlin Money Mindset Podcast fits into that.

Larry Sprung: Sure. So we we're in a, a traditional wealth management firm, but we talk a lot about joy, which is how the Mitlin. Money Mindset Podcast came about because our, our podcast is really there to help you find more joy, success, and purpose through inspiring stories. And we try to give as many actionable insights from our fascinating guests as we can so that our listeners can create a life that truly brings them joy.

Uh, ultimately that's the. You know, impetus and, and idea behind our, our business, uh, with wealth management surrounds joy. And then we tie in the podcast as, uh, as a, uh, supporting role to that business.

Sadaf Beynon: That's really interesting. 'cause um, when you talk, when I think of financial growth, I don't usually think of the word joy, I think of [00:02:00] success.

Yeah. But I don't think of the word joy. So tell me how you landed on that.

Larry Sprung: So it was a little bit by accident and I, I talk about it pretty often. Uh, when we were, uh, thinking about launching the podcast, the Mitlin Money mindset. My wife, who happens to be our director of marketing, came to me and said, you know, you really need to have a single question that you ask each of your guests to kind of tie in each episode.

And I was like, well, okay, great. Well think of. Think up a question because, uh, that's not my wheelhouse. I'm not the creative. That's what she does. And uh, a few days later she came back to me and she says, I got it. She goes, you're gonna ask everybody, what did you do today that brought you joy? And, uh, we ever since we've been leaning into that joy.

Uh, concept and we've integrated into our practice and ever since doing so, we've seen a lot of success, not only with the podcast, but also on the wealth management side, because at the end of the day, the things we're talking about, whether it's money or [00:03:00] financial situation at, at the end of the day, the result is people want to use that as a tool to create more joy in their lives.

Whether that be some form of retirement down the line, watching their child or grandchild, uh, you know, graduate debt free, or whether it's a vacation home, it's really ultimately a tool to, uh, drive joy in their lives.

Sadaf Beynon: I. That's, that's very cool. I, I really like that because it almost gives people permission to feel like, yeah, you know, what I'm trying to do here is a good thing for me, for my family.

Larry Sprung: Well, it also makes us, uh, puts us in a position where mm-hmm. We separate ourselves from all the other advisors out there who are. Uh, solely concentrated on the numbers and the financial aspect of things, and certainly those are things you have to be concerned with. But those are table stakes. Any, any advisor, you know, worth their weight and salt should be able to work with those numbers and figure out a game plan.

What we really wanna spend the lion's share of our time with the families we work with is on what [00:04:00] joy looks like for them. What does it mean to them? What, what does that joyful event and lifestyle down the road look like to them? So we can then. Talk about how the numbers, uh, will support that or what we need to do to get there, uh, and get those numbers to support that life of joy that they're, uh, framing out.

Sadaf Beynon: That's really great. That's great. So, um, with your podcast then, do you focus on the joy aspect of it, of, of that, of their journey or whatever it is that you're talking to your guest about? How does, how does that part play out?

Larry Sprung: Yeah, I mean, some of, some of the guests that we have lend to that. Uh, that conversation and they're very joy filled.

Right. But at the end of the day, we do also have some more serious topics, uh, and some more serious guests on that. Mm-hmm. Um, we may not spend a lot of time on the joy factor, but in, in any event, at some point in, in the conversation, because our last question is gonna be, what did you do today that brought you joy?

[00:05:00] And put you in the right mindset for success. So we try to infiltrate the joy, uh, you know, terminology and, and kind of that theme throughout the show. Mm-hmm. But at the end of the day, if there's not really a true opportunity to do that, then we'll, we'll do that through the question. But at the end of the day, you know, most people hearing these people's journey, uh, will bring them joy in, in creating actionable steps that they could take in their own lives.

Sadaf Beynon: Great. And, um, about your podcast, did it, did you start that after you started your business or did they go hand in hand?

Larry Sprung: No, the, uh, yeah, I mean, the podcast started, uh, well after, uh, we started the business, Mitlin Financial has been around since 2004, so we were about 16 years into the business when we launched the podcast at the end of 2020.

Mm-hmm. Uh, we launched it about six months after the Covid Pandemic started. Uh, it was something that we had in the plans for about a year and a half. Prior. Okay. And, uh, we decided [00:06:00] to, uh, continue forward and, and launch it regardless of, uh, the environment we're in.

Sadaf Beynon: Mm-hmm. Fantastic. And how does your podcast help your business grow?

Larry Sprung: Yeah. So that's a question we get very often, right? Mm-hmm. And I think, again, there's a lot of focus, uh, by people who are thinking about or have, uh, or are in the process of launching a podcast, right? Their, their immediate default is to go to the return on investment, right? What, mm-hmm. What is gonna be my return on investment?

What's gonna be the financial, uh, return that I'm gonna get from investing my time, uh, my money? And, uh, you know, my team into this process. And that was something that we never focused on. Uh, it wasn't really, we weren't really interested or looking for a financial return on our investment. There are some key and distinct ways that we have benefited from the podcast that I, I think is, for us at least, is far more important than.

Uh, the, the monetary [00:07:00] aspect one is yeah, I, I've gotten the opportunity to speak with, meet with, spend time with people that would ordinarily not have spent time with me. They wouldn't have taken a phone call. Mm-hmm. They may not have, uh, I may never have crossed paths with them, but I did have the opportunity to have them on my show as a guest and spend some time with them.

Learn from them and share those learnings with our audience and, and our listeners, which is, you know, invaluable. Uh, the second thing is we've now created a curated library over the last four plus years of guests that can, and, and do come in handy. With regard to supporting the families we serve. So, for example, there was a, a gentleman I met with last week who's a, a family we work with and he's considering shifting jobs.

And, you know, he realized that he hasn't been active on LinkedIn, for example, in recent years while he was working with his current employer. And when he was talking to a couple of friends of his who've just found new [00:08:00] employment, they realized, uh, well, they shared with him that they found their employment through LinkedIn.

So he was sharing this with me and he said, you know, I gotta get more active. I gotta update my profile, et cetera. So we recently had a guest who is a LinkedIn expert that talks about, you know, what you should be looking to do with regard to your profile, how to set it up, how to position yourself for the next, uh, you know, your next role, et cetera.

So I immediately sent a link to, uh, this family we were talking about and said, Hey, you know, I was. Thinking about you this weekend, and I thought this episode would really come in handy based upon the conversation that we had. Mm-hmm. So it, it's become this library that when people have challenges or, you know, issues within their lives that they're trying to solve, it doesn't just have to be me answering those questions.

Yeah. I can share, you know, meaningful. Stories and meaningful ideas from guests that we've spent some time with. And it's created this curated library, which is, you know, has [00:09:00] been a huge return on investment. Maybe not a monetary one. Mm-hmm. But you know, those two are probably the biggest two. And then we have had the opportunity where several guests have become clients of the firm or referred.

Families into us. Um, not necessarily something we were thinking about or looking for, but it was a nice surprise after spending some time with them and learning a little bit about them, and them learning about us, they felt comfortable enough to, uh, you know, entrust us either with themselves or somebody they knew.

So, you know, we don't look at it from a monetary, I think those three ways and, and way number one, and. And two, in terms of meeting people and, and having this curated library are the two biggest components of why we continue to do the podcast today.

Sadaf Beynon: Fantastic. Yeah, I mean, you're absolutely right. There is so much unique value in podcasting and, , way beyond the, the numbers as you've said listening to you talk, I think, um, your, your curated library of [00:10:00] guests, as you said.

I think also helps build trust with both your current and future clients as well because you've got that rapport with them and you're able to help them out with different, , problems that they might be facing or different issues that they're trying to work through. I.

Larry Sprung: Absolutely.

And sometimes, you know, I may talk to them about it two or three times and we get no movement or, you know, it doesn't resonate. But maybe hearing a third party voice might, you know, resonate more with them. Yeah. Because now it's not just Larry sharing this, it's Larry and so-and-so who is also an expert in this field.

So it, it just helps reinforce what we're trying to do and how we're trying to do it for the families we serve each and every day.

Sadaf Beynon: Yeah. No, that's fantastic. What, um, what are some of the challenges that you faced with your podcast?

Larry Sprung: Well, I, I think you have to know what you wanna be and what you don't wanna be.

Initially, I thought I was going to have a show that was not gonna be interview style, and I was gonna go on and talk for a period of [00:11:00] time about a given topic. And in a very short period of time, I, I realized that that was not something I wanted to do. I just didn't enjoy just. Speaking to the camera and through a mic.

It, it wasn't engaging enough for me. So we, we shifted, uh, and, and pivoted to an interview style show, which is right in my wheelhouse. I, I really enjoy, uh, talking with others, sharing their stories, and. You know, sharing actionable ideas for our listeners that they can implement and, uh, utilize the stories and those insights, you know, so they can create a life, uh, of joy for themselves.

So, you know, those were things, and I think early on, you know, creating a process that was gonna be duplicable, uh, where it did not necessarily include me touching every facet of the process. So, as it stands right now, I do. You know, probably, you know, an hour, hour and 10 minutes worth of work per episode, which basically includes, you know, reviewing the [00:12:00] questions, reviewing things about the guests, reviewing or creating an introduction, and a thank you for them.

And then just recording the episode, the booking, the editing. The, uh, you know, uh, posting the blog, et cetera, all those other things outside of creating the intro, the thank you, and actually the, uh, the interview or the time on the episode with the guests, everything else is handled, uh, by my team. So I, I think those are challenges you have to figure out early on and how you wanna handle them.

I, I think that, you know. Podcasting can be, you know, it is very rewarding, but it can be a very time consuming thing. And, uh, you have to, you know, take a look at what is your time worth and is it worth you actually doing the editing when you may not be an editing expert or mm-hmm. You know, hiring somebody.

I'm a big, uh, proponent of, uh, Dan Sullivan and who not how, uh, finding people, uh, who can do it and not learning how to do it. Okay. So, [00:13:00] uh, I'm a big proponent of his for that.

Sadaf Beynon: Yeah, absolutely. I mean, the teams are great. Um, did you always have help around you with, with this editing side of things and all the other parts that play into a podcast episode, or did that come later for you?

I.

Larry Sprung: Yeah, so we never edited our own shows. We, we had components, uh, we've added more components to it now. So I have somebody scheduling, somebody, uh, making, you know, creating the questions based upon their background and other appearances, et cetera. Mm-hmm. So in, in many cases, and I, I adjust those and amend those, uh, based upon my knowledge and what I find out about the guests.

But, uh, it's been a bit of an iterative process. I probably did more early on just because I wanted to learn what the process was. What it entailed. And as time has gone on, I've released more and more, but the editing component's something I was never, uh, involved with because it wasn't something that was in my wheelhouse that I even, uh, had the time or the bandwidth [00:14:00] to learn.

Yeah. So that piece has always been outsourced and then we've, uh, you know, brought the team in to handle more and more of the process as time goes on or has gone on since we've learned what we need and where it's, uh, best suited.

Sadaf Beynon: What was the unexpected learning curve of being a podcast host?

Larry Sprung: Oh, I, you know, I don't think, for me, again, I don't know what everybody who's listening to this and as they're thinking about launching or going down this venture, what they're, um, I. You know, experiences have been like, but, um, I, I didn't think that, you know, for me it was an easy lift. It was something I was very comfortable with.

You know, I talk to people every day. I've been in the media, so it, it's something I'm very comfortable with. Mm-hmm. Um, so I, I would say the one thing that I do know has changed over time is, um, you know, my style and, and learning from each of the episodes and getting better as time goes on. Um, I thought I was pretty good when I started and.

One of the things I share is we had the same [00:15:00] guests for my, uh, first episode as I did for my 100th episode. Oh, wow. And, and as I prepared for the hundredth episode, I listened back, of course to the first episode, and boy was the introduction that I gave for this person who's, you know, very important person, wrote the forward to my book.

And, uh, you know, I listened to that intro and I was like, man, that was. Terrible. So actually in the introduction for the hundredth episode, when we had him on, again, I made a mention and I kind of made a joke that, uh, yeah, I was gonna do 'em right this time. 'cause the first one wasn't, wasn't that great. But I, I think that's the, the approach you have to take if you're gonna be a podcaster, right?

You're not, you're not gonna be the best podcaster you're ever gonna be on episode one, and you're still not gonna be the best podcaster you're ever gonna be on, uh, episode 100 if. You're doing it right, it should be something that you're getting better with. Um, you know, each and every episode over time.

And, uh, you know, if you listen from one year to the next, they [00:16:00] should sound better. They should, you know, you should have, uh, a better sounding quality and output. So I, if you're learning, if you're just gonna do the same thing every time, then you're probably not gonna see that difference. But we wanna improve.

So, you know, we make a concerted effort to improve with each and every episode that we record.

Sadaf Beynon: Yeah. Yeah. I think with, with something like this, when you are regularly podcasting, you start learning and, . And growing without even realizing. It's when you look back that you realize just, um, the, you know, the, the distance you've come,

Larry Sprung: right?

Yeah. It's, and listen, if you wanna do it right and you wanna improve, which hopefully you're doing it to improve, then you should be listening. I listen to other podcasts, you know, incessantly to learn different things, um, as well. Um, so I pick those up and listen to really good interviewers. 'cause I'm doing an interview show, so I listen to really good interviewers to learn from them.

Also, how to, you know, how to get the guests who may not be opening up [00:17:00] to open up and things like that. Or, or go down, you know, find an area that, uh, you know, the listeners would be very interested in and dive a little bit deeper. So it, it's a learning process and if you're doing it right, they're only gonna get better with each episode that you record.

Sadaf Beynon: Mm-hmm. Larry, what have you learned about audience engagement?

Larry Sprung: Oh, that's an interesting thing. I, you know, I think probably my biggest takeaway there is, um, there's not as much engagement as you think. Mm-hmm. Um, meaning that, um, you know, and, and, and you don't have to be concerned about that as well. I, I should add, right?

Mm-hmm. And what I mean by that is. We have a lot of folks that have come to us, um, to work with us. They, they wanna hire us as their advisor. And in, in many instances, they've never commented on a post. They've never commented on a, uh, podcast episode, but they've listened kind of quietly, you know, behind the scenes and.

When they're ready to make that [00:18:00] move, they make the move. So, um, I, I don't get too concerned about the numbers, the downloads and things like that because there are a lot of people out there that are not necessarily interacting with your brand, but they know you're there, they're watching you, and when their time is right.

Um, they're gonna come forward and, and work with you. We had, we have a, uh, an advisory council, which is like a, a board of directors for the firm. And we met last week and, and somebody mentioned to me, or we were talking about why they became, uh, a family that we work with or why they inquired with us and they said, you know, I was watching you for about five to 10 years and I, wow.

I watched you and your family and I watched your boys grow up. And I, I watched what they've turned into and I was like, wow. If. If he, him and his wife can raise great kids like this, um, I can only imagine how he would be able to help me with my financial situation. So when I had a, an issue or challenge, I reached out to you and they really, [00:19:00] I don't recall them commenting or, or any, any kind of outreach.

Um, you know, that to my knowledge and. You know, I think it, you have to be aware that that could be very well happening just because you're not getting the downloads, the comments, the et cetera. Yeah. Doesn't mean you're not getting the eyeballs or the ears to be listening or, or watching what you're doing.

Sadaf Beynon: Yeah. I mean, um, I think it's that consistency and , content quality over time, isn't it, that brings those people to you. But I think there's also something else you've touched on about. , Making it relatable as well. So you are, obviously, they've seen your family, they know about your family, whether it's in, um, you know, a blog you've written or whether you've talked about 'em on the podcast, but it's that ability to relate to you.

And so they're drawn into that because, um, whatever it is about you. They can relate to. Mm-hmm.

Larry Sprung: Yeah. I mean, we're not selling, you know, we're not in the business of selling widgets where we sell somebody something and then they go away. We're, mm-hmm. We're in the relationship business. We build [00:20:00] longstanding relationships with families and in many cases today, we.

We have relationships with second and third generations of those families. So you have to be authentic, you have to be relatable. And you know, in many cases, you know, those people that don't reach out to us probably aren't because they don't align with our values. You know, and people know, uh, and the families we work with know my family comes first.

Um, so if something happens, uh, within my family, I may have to cancel a meeting to. Do that, whatever that is. Right. And, and my family really includes my, my, uh, you know, my immediate family, my kids, my wife, but you know, the, the folks that work here, my stakeholders, they're part of our family. Our clients are part of our family as well.

Um, but, uh, you know, by being relatable and putting it out there, people have an understanding of who you are, what you're about, what your values are, and, you know, they make a decision if that's something [00:21:00] that they're aligned with or not. By exercising whether or not they're gonna call or reach out and see if there's an opportunity to work together.

Sadaf Beynon: Yeah, yeah. I mean, you talk about relationships, podcasting is great for that and, and you've given us some examples of how exactly that plays out.

, Larry, what's next from Mitlin Money Mindset.

Larry Sprung: Yeah, I, you know, we are, we're just continuing to spread as much joy as we can. Mm-hmm. We're always looking for, you know, I, I think if you look at our guests, our guests have gotten better.

Um, you know, they're, they've gotten higher level, uh, you know, we we're just. We're always trying to get better, whether that's me as the host, whether that's getting more relatable guests, guests with real interesting stories, uh, you know, fascinating guests. Um, and really just looking to align with people who can help our listeners create a life that truly brings them joy and, um.

You know, the, that's what's next is to just, you know, [00:22:00] double down on what we know is working and, and continue that and just refine it. I think we have a pretty good recipe and now it's just a matter of refining it to a degree and, and, um, you know, increasing the, um, the content and the, um, you know, the quality of the, uh, of the show.

Sadaf Beynon: That's great. I love how, Mitlin Money Mindset, , ties into the broader mission of the business. It's great.

Larry Sprung: Yeah. I mean, listen, if it wasn't for the business, uh, we probably wouldn't have a podcast, right? Mm-hmm. But so, uh, the business is there first and foremost and, and is more important, uh, when all said and done, then the podcast.

But, um, you know, really the, the podcast for me is really a, an act of joy for myself. I really enjoy. Hosting it and, and, uh, having the guests on and spending that time with people. And, uh, you know, our listeners, uh, align with it too and, uh, we try to [00:23:00] make it very relatable for them so they have actionable takeaways that they can implement in their own lives, uh, to also create a more joyful life for themselves.

Sadaf Beynon: Fantastic. Larry, I think that's quite clear in listening to you speak, that you enjoy having those conversations, building those relationships, and learning and improving as you go. You, you, you seem to be drawn to that.

Larry Sprung: I am. And I, I appreciate you, uh, giving me this platform to share, uh, my story and, and our success with, uh, with your audience.

I appreciate it.

Sadaf Beynon: You're very welcome, Larry. What advice would you give to other professionals who are wondering whether a podcast is worth the investment?

Larry Sprung: I say just do it. I mean, just don't do it haphazardly. Make sure you have a, you know, a game plan. Uh, but you know, just like every plan that you have in life, it's gotta be flexible, right?

Mm-hmm. Don't, don't try to iron out every detail. Just have a rough framework as far as you know, what the goal is of the podcast, what the format [00:24:00] is. Have those high level things that you're thinking about, have them framed out. Then start going into it. And you might get surprised. I mean, before I even recorded an official episode, I realized I did not wanna have a solo gig on the podcast, and I, I canned it right away.

So that flexibility was Yeah, you know, enormous. So. You, you know, just because you go into it one way doesn't mean you can't adjust. Be flexible with it. And, you know, the first year really should be, uh, a year of e you know, experimentation in terms of figuring out what your comfort level is, how you feel most comfortable, how are you making your guests mo most comfortable creating that process?

Just do it, and then you'll see. Don't go in with any expectations about downloads or what that return on investment, uh, would or could or should be, and start, you know, noticing and seeing what happens to your business. Because it may not be reflected in downloads. It may just be reflected in inquiries.

Maybe your inquiry [00:25:00] level goes up and maybe it's directly tied to the podcast. Maybe not. But either way, it's definitely helping because people are looking for that. So, you know, put a plan together. Be flexible and then start measuring, you know, things over the course of the year and refine it, uh, and get a process in place that can allow you to continue it, uh, going forward.

Sadaf Beynon: I love that. That is fantastic advice. Just, just get on with it.

Larry Sprung: There you go. Done is better than perfect.

Sadaf Beynon: Yes, that's right. Larry, this has been great. Thank you so much for sharing your story and your insights.

Larry Sprung: I appreciate it. Thanks for having me today.

Sadaf Beynon: No problem. But before we wrap up, Larry, where can our listeners connect with you?

I.

Larry Sprung: Yeah. So, um, the, the easiest and the best place is on LinkedIn. Uh, Lawrence Sprung is, is the name. You could find me there. Uh, I'd be happy to connect with anybody, um, that, uh, that is interested. And then if you go to mitlinmoneymindset.com, we have our podcast site there, which gets you links [00:26:00] to everything we're up to, whether it be the podcast, the book, or our, uh, joy Journal.

Uh, all of our deliverables are right there and accessible to you.

Sadaf Beynon: Awesome. Thank you. So to those tuning in, you will find all the links in the show description, and if you're listening and are curious about using podcasting as a, as a strategic tool for your own business growth, I hope this episode has inspired you to build credibility, trust, and connection with your audience.

As always, thanks for listening. Bye from Larry and from me, and I'll see you next time.