Here are 7 ways to make money with your podcast in 2020. I've personally implemented each tip here (except for 1 of them), and they have helped me make money online, even when the shows had small audiences.
Now I do want to preface here that you should be primarily focusing in on providing valuable content to your audience. This, in my opinion comes first.
However, when you are ready to take on that goal of monetizing your podcast, don't just focus on the number of downloads, but do focus on the value that you could bring to potential brands.