First, you need a place to record your podcast. Ideally, you should record an audio podcast in a quiet room without empty surfaces and bare walls. If you do record your voice in a room with no furniture or carpet, you'll sound like you're podcasting from the bottom of a well even if you're using the most expensive equipment available to you.

Choosing to record outside is not a good idea, either. The background noises will become more of a feature than your own voice. As you're recording, check to make sure your sound level is consistent throughout the podcast. The goal is to have a clear, audible recording with no unnecessary background noise.

For a video podcast, a quiet room with a backdrop like a blank wall or curtain works just fine. You can set up a green screen in order to create your own backdrops, but that is far from necessary. You can keep things simple and still look professional.

Second, you need high-speed Internet access. You don't have to have a broadband connection, but you'll be spending a lot more time uploading your podcast if you're operating with a 56k or less dialup connection. A broadband connection is therefore ideal. Just be sure to take into consideration upload speeds and any limits on uploading your connection provides.

Third, you need valuable content. Unless your content is newsworthy, don't post. By newsworthy, it should contain information that provides value to the listener. Don't post a podcast when you have nothing to say or promote. You're not operating a 24/7 news program, so you don't have to fill time with useless information. If you do that, you'll lose subscribers.

Fourth, you need an mp3 converter for your audio podcasts. You can get converter software at Tucows or any other site that offers such software. Converting your audio file to mp3 format is a critical step that enables you to upload your podcast to places like iTunes. Keep in mind these mp3 files are not small, so you need a hosting account that provides a large storage capacity. Or you can find a third party site to store all your podcasts for you.

Finally, you need an RSS feed. You need this feed to efficiently distribute your podcast. Your blogging provider likely offers this service as part of your blog, or you can get Feedburner to host your feed for you.

If you really want to attract traffic, pay particular attention to that last tip. Proper distribution of your podcast is vital!