Social Enterprise Strategy: Amplifying First Nations voices through Australia’s first Indigenous podcast network
Mundanara Bayles launched her social enterprise podcast ‘Black Magic Woman’ in 2020, recognising a need for more Indigenous representation in podcasting. In collaboration with TDi, she recently embarked on a journey to establish a sustainable business model for Black Magic Woman and pioneer Australia’s only First Nations podcasting network.
This was the question that Mundanara Bayles, from Black Magic Woman, was asking when we first spoke to her. Instinctively she knew there was a business and financial model in what she was doing; what she needed was a strategic think partner to help her navigate the complexity.
We worked with Mundanara and the Black Magic Woman team over a period of 12 months to design, test, refine, and validate their podcast business model and their new idea for a First Nations owned podcasting network. The result? The Black Magic team have now solidified their future business model, won another significant anchor client, and launched Australia’s first ever First Nations podcasting network, BlakCast.
What was the opportunity?
Mundanara launched Black Magic Woman in the height of the 2020 lockdowns, creating a bridge for herself and many others (including First Nations and non-Indigenous folk) to feel connected during difficult times. The podcast grew organically, and won the attention of Indigenous Business Australia, who asked for a podcast series focused on Indigenous business. But the business model and financial model still needed clarity. Mundanara also had a big dream of launching a First Nations podcast network but needed help thinking through the business model and the practical steps to actualising her dream.
Our approach
Over 12 months, we ran two ‘sprints’, working as an embedded, highly collaborative team.
The first sprint focused on designing, testing, and validating the Black Magic Woman business model. The process involved an articulation of Mundanara’s origin story and vision for Black Magic Woman, then we mapped the current business model, naming the opportunities, gaps, and assumptions together.
Next, we interviewed major corporate customers and conducted audience interviews to understand Black Magic Woman’s value proposition to both parties. This data helped the team understand their value more clearly and how to price for that value. We then unpacked the financial model, and built out a high-level foreword cashflow together, to help the team set sales goals and understand when they could make hiring decisions.
The second sprint focused on designing, testing, and validating the First Nations podcast network model. This included clarifying the value proposition with partner podcasts, deciding on pricing, and supporting Mundanara in initial negotiations with Australia’s number one, podcasting network.
“When we started, it was overwhelming to see what it was going to cost and think, ‘How are we going to do all this?’. The process with TDi has helped to alleviate the stress, helping us to see all the puzzle pieces, and inspiring me to work hard to make it happen.”
– Mundanara Bayles, Founder
Outcomes
At the end of the project, the team had identified a solid commercial model for Black Magic Woman and launched their new First Nations podcast network in partnership with ARN iHeart, one of Australia’s largest radio and media networks. They had also won a significant client, as a result of the customer interviews. To date, the BlakCast network currently showcases six different podcasts which platform the stories of First Nations Peoples and people of colour:
Black Magic Woman, Yarning Up with Caroline Kell, Curtain the Podcast, Coming Out Blak, Unapologetically Blak, and Meet the Mob.
The team shared that the felt a lot more confident as a result of the project. They also felt a sense of collective ownership of the business. As we reflected together on our final session, Mundanara shared:
“It just kicked off a whole new mindset for me.
Understanding the business aspects and the potential of how big we can grow this thing – it’s really opened my eyes.
For me the most exciting thing was having Clint move from the background to really contributing to the business and creating his own legacy, too. This process… facilitated Clint to do that.”
We’ve thoroughly enjoyed working with the Black Magic Woman team. We celebrate your big vision, grit, and willingness to ask the hard questions. The launch of BlakCast marked a significant milestone, not only in First Nations media but also in the broader landscape of podcasting in Australia. Huge thanks to Indigenous Business Australia for making this work possible.
We’d love to work with you – find out more about our services here.
“[It was] an excellent process… This process isn’t about concepts or shiny documents that just sit on the shelf… it’s about building a business as we go, turning it into action”
– Karen, COO