Myke Hurley, on guest-posting duties over at 512pixels.net, wrote a great article titled Why I Stopped Caring About the Numbers worth reading  if you're attempting to create something online where attracting and building an audience is an important part of what you have to do to have some sort of commercial success:

I have spoken with a handful of people that operate in the podcasting world about this and they all seem to agree with me — even though they all came to this conclusion long before me — it is important to create work you are proud of and if you are consistent and you keep working hard at it, you’ll get the outcome it deserves.

In my experience it's one of the hardest lessons to learn and remember in the online world: consistently creating great content while you wait for your audience to find you.