What will your podcast be about? It could be your political views, mock interviews with your pets, or something practical like a 'live' trade-show report to share with co-workers. However before you pick up the microphone, you should do some planning, especially if you're not used to speaking off the cuff, like a sports commentator.

Your podcast needs to be entertaining enough to make people want to listen to it. No one wants to hear uncomfortable silences in a podcast, or the sound of someone rambling on incoherently. Preparing an effective podcast is like preparing a good speech: you need to first understand your audience, then present your content in a way they can relate to. Writing an outline will help you to avoid any awkward silences, and also help you to formulate your ideas into a strong presentation.

Listen to some of the more popular podcasts to get a feel for their style and content. A good place to start is Podcast Alley or iTunes. Once you have a sense of what a good podcast should be and have narrowed down your topic, you can focus on hardware.

Other than a computer, the only hardware you need is a microphone; the better the model, the more professional your recordings will sound. For better recording quality, you should invest in a PC headset. One relatively inexpensive option is the Sennheiser PC 150, which offers a built-in microphone and noise-cancellation circuitry. Another option is the Logitech USB Headset 250, which connects to your PC or Mac via USB.

If you're parked in front of a computer and don't have headphones plugged in, be sure to mute your speakers. Otherwise, feedback could ruin your recording.

Also, some of the best podcasts are 'road diaries.' If you're on the go, don't forget to pack a portable recorder. Many of the latest MP3 players have an input jack that allows you to plug in an external microphone. Just make sure yours can record at a decent sampling rate--at least 32Kbps for MP3 and 44.1KHz for WAV.