Listen to the Podcast
There are a lot of people out there that want to get into the YouTube space because they want to make some extra additional income. If you’re kind of starting out and want to make some extra cash I want you to think about the longer implications of this.
Think about this in terms of the business concept, a lot of people that start out on YouTube start from the bottom and when you start from the bottom it’s hard work and there’s a lot of work that you need to think about.
Most of the channels you probably watch are probably bigger channels but I encourage you to go out and find some smaller channels because that’s the type of videos you’ll probably be making and creating and some of the struggles that you’ll have.
If you’re finding bigger channels and you’re attracted to the bigger channels you’re probably seeing some of those earnings and those earnings are kind of enticing. They seem good because some of the big YouTube channels make twenty thousand or a hundred thousand dollars a month.
If you think about the YouTube channel as a platform, as a gateway to connect to an audience, that’s where it makes it much more enticing and that’s what I want you to think about.
If you think of it as a single linear approach — it is a bad approach — because what happens when YouTube fails like your channel gets deleted or something just goes wrong or maybe your videos just don’t take off.
Maybe you don’t become a big YouTuber, maybe you only have 10,000 subscribers on one channel rather than maybe a 500,000 subscriber account that you’re looking for.
With time I’ve learned a handful of things so I want to share with you these thoughts of what is the better approach to thinking about this how do you build this nest egg because it’s not just about making videos and then getting paid really it’s about creating an audience and a platform and now you’re taking that audience and platform and directing it to a business concept.
What the heck is a business concept? How does a business make money?
Number one is sell a product.
Number two is sell a service or sell someone else’s product or service also known as affiliates.
Number three is sponsorships.
This is what most people go for; this is kind of the more views you get the more money you get.
Now the lowest form is sponsorship because well you might get let’s say 10 cents per thousand views 100 per thousand views depending on the videos you make it varies and it’s not as consistent.
Now you have an audience but you’re not making a lot from sponsorships unless you have a bigger YouTube channel and then they say “I’m going to pay you 500 to make a video about something” and then you might do that or you get a product that’s worth 500 and then you’re able to sell it later on.
However, the big money comes in selling your own products or services but if you can’t or don’t have that capability yet, usually what people do is they sell other products or services like doing review videos and this comes down which is affiliate income.
