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In today’s episode, we’re going to take a look at building your business around YouTube.
To illustrate this, I want to share with you:
- What most people do, and
- Then the better approach and the way you want to think about things.
What do most people do?
They’re searching for the number one goal or number one thing. They’ll go ahead and put YouTube here as the center line.
- Try ads
- Try sponsorships
- Try selling T-shirts
- Write ebook
They try and think about building a business around YouTube by putting YouTube in the center and trying these different things and looking for that number one thing that works.
This is the way most people frequently approach these things. They’re looking for that one-hit wonder, the golden egg, the biggest thing that will work for them.
When in fact this is not a great way to build a business. You’re just taking strategies and saying what’s working, what’s not and then if it works, great I’ve solved the magic formula. I found the secret potion.
That’s not the right approach to looking at building and creating a business with YouTube.
What you’re really looking to do
Create things in a linear fashion because you’re looking to build a customer that you can have for the long haul.
Ideally, what you’re trying to do is use YouTube as the baseline – as the starting point. I want you to start thinking about this as you’re running multiple races with people. You’re creating various streams for you to start making money with YouTube.
YouTube is the starting point but then you go out, and you start creating more products.
What you’re trying to do is get people to hop from step one to step two to step three to step four. That’s what they’re doing. You’re building that customer from one level to the next.
From YouTube, you have people that may get on your newsletter. From your newsletter, you might send them some emails over here. And then from those emails, you might promote your ebook. You might get people on your Facebook, and then from Facebook, you might promote something or have some content and then again the next thing.
You’re looking at streams.
You’re building a customer here but you also do the same thing with your products. You develop products, courses, strategies – those kinds of things that you’re selling depending on what business you’re in.
Then you go ahead and build the next thing. I create some courses then again that’ll continue moving forward.
Rather than just looking at which thing is working and then dropping off, you’re going to add more items.
With an e-book, maybe you’re making 200 a month. Then with courses, perhaps you’re making 800 a month. Then with t-shirts, you might be making another 150 a month. So, you start stacking these things, and then you continue adding more to it. You create another streamline here and maybe sponsorships, again this could be 500 a month. Then, you go ahead and add the next thing. This could be affiliate products which are pretty big. And then again, depending on your revenue and income, about a thousand two hundred a month that you continue to add more and more.
It all starts with YouTube because you’re all building it from the YouTube platform. You’re making your customer; you’re creating those newsletters, creating the content, distributing your content to Facebook, Instagram, all the different mediums and you’re also creating streamlines of products and income that you can create.
First, you do one first. You build out the second one then you build out the third one, and you continue stacking these. So, maybe later, you have a membership section. Then you might have multiple membership sections. You might have one or two t-shirts at first, and you might have hats and other apparel later on.
You start evaluating which thing starts working. What do the customers buy? And how do I take them from step one to three to four to five? How do I get them to jump?
Typically, if you start with an e-book later, they may buy a course. Then, coaching session. So, if you do any coaching/consulting, that could be kind of another leg or segment. You can continue to stack the value and continue to add more revenue streams.
So, you set up these streams of the income that later on start producing and making you money. Sometimes, you have to create new t-shirt designs to keep those things fresh. Sometimes, you have to update your book or convert it into an audiobook.
You continue to do things to evolve these product lines maybe make them better to compete a little better. But, overall, looking for different streams. If you have multiple streams, that’s really where the business part comes in.