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5 Hacks to Make Money on YouTube

5 Hacks to Make Money on YouTube

Most of us at this point probably subscribe to a YouTube channel whose owners make a great deal from their channel, and we have heard of how some celebrities can make hundreds of thousands if not millions of dollars. And while you may not necessarily want to run a channel full-time, the idea of making some videos and earning a little cash on the side is appealing to anyone.

But making money through YouTube is not as simple as opening a popular channel and watching the ad revenue roll in. There are ways to maximize the amount of money you get from each viewer, and other ways to earn money through YouTube beyond advertising. Here are a few things that you can do to maximize your revenue from YouTube.

1. Understand how YouTube advertising works

Many people assume that YouTube views equal cash, but that is not quite the case. Remember that YouTube channels often make money through advertising. If a million people watch a YouTube channel in a week, but all of them either skip the ads or use ad-blocking software, then the channel may not make money.

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If you are running a YouTube channel, you have a level of control over what kind of advertisements are allowed on your channel. YouTube has a list of what kind of advertisements it uses, and you should think carefully about which kind of ads you want to allow.

For example, non-skippable, 30-second advertisements will make you more money per viewer than the advertisements that can be skipped after five seconds. But if your channel is filled with many short videos, then placing a 30-second advertisement before each one will turn off viewers.

2. Find your niche

If you are starting a YouTube channel in order to make money, go do something else. Making money should be an incidental goal, while the real goal should be to disseminate information or to talk about something that you really care about.

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This is not some poetic “follow your passions” malarkey, but practical advice. Running a YouTube channel that will get viewership is hard and you will not see results for a while. You have to regularly post videos to make sure that people visit your channel and getting those first few hundred visitors is harder than it seems. As Hickok45, a highly popular YouTube star observed, “I need to have fun with the videos or I’m in jeopardy of really getting burned out.”[1]

View your YouTube channel as a hobby which you enjoy, not as a job. And that means your channel should be about something you like to talk about.

3. Link YouTube with your blogs or websites

You don’t have to create money with just your YouTube channel. Think about how businesses use YouTube to advertise and link to their website or e-commerce store. Even if you do not own a small business, you may have a store on Shopify or a blog where you earn money through hits.

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If you have another website, do not hesitate to mention it and post a link both at the end of the videos as well as on your channel. If you can create interesting content on YouTube, people will assume that you can do it elsewhere and will easily gravitate towards it if you let them know it exists.

4. Look into affiliate marketing

One of the biggest problems with trying to advertise on YouTube is that Google takes a substantial cut, so you may want to look into other forms of marketing. Affiliate marketing is a form of marketing where you talk about a product in your video itself instead of in an advertisement beforehand. This is a good way to generate a video income method. For example, NBA highlight channel, Free Dawkins often devotes the beginning segment of their videos towards advertising various athletic programs before showing the highlights.

The catch with affiliate marketing is that it will only really work if you have a reliable fan base that will sit and listen when you talk about some company’s products. Once your channel is big enough, then look into it and also make sure that you link to the advertiser’s website in the video description.

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5. Consider fan funding

If the money you make from a YouTube channel comes from viewership engagement, then why not just directly ask the viewers for money? You can set up an account on YouTube’s Fan Funding or Patreon, which essentially serves as a donation box where viewers can show how much they appreciate your work.

Patreon users often offer additional content such as sneak video previews or behind-the-scenes photage to encourage fans to donate, but you want to make it clear that you are asking for a donation instead of charging for payment. Remember that your YouTube channel will often compete with other channels that offer somewhat similar content. If viewers start to think that you are essentially charging them for your videos, they will flock to a competitor unless you can produce extremely compelling content.

Featured photo credit: Juliette Leufke via unsplash.com

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Last Updated on December 1, 2020

How to Find Your Entrepreneurial Passion and Purpose

How to Find Your Entrepreneurial Passion and Purpose

I wrote a few articles about starting a business based on something you love doing and are passionate about. I received several responses from people saying they weren’t sure how to go about figuring out what they were most passionate about or how to find their true purpose. So I’m dedicating this article to these issues — how to find your entrepreneurial passion and purpose.

When I work with a new client, the first thing we talk about is lifestyle design. I ask each client, “What do you want your life to look like?” If you designed a business without answering this question, you could create a nice, profitable business that is completely incompatible with your goals in life. You’d be making money, but you’d probably be miserable.

When you’re looking for your life purpose, lifestyle design isn’t a crucial component. However, since we’re talking about entrepreneurial purpose, lifestyle design is indeed crucial to building a business that you’ll enjoy and truly be passionate about.

For example, say you want to spend more time at home with your family. Would you be happy with a business that kept you in an office or out of town much of the time? On the flip side, if you wanted to travel and see the world, how well could you accomplish that goal if your business required your presence, day in and day out, to survive? So start by getting some clarity on your personal goals and spend some time working on designing your life.

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At this point, you may need a little prodding, and you may want to hire a coach or mentor to work with you through this process. Many people are very used to the idea that there is a particular way a life “should” be. There are certain milestones most people tend to live by, and if you don’t meet those markers when or in the manner you’re “supposed” to meet them, that can cause some anxiety.

Here’s how to find your passion and purpose:

Give Yourself Permission to Dream a Little

Remember that this is your life and you can live it however you choose. Call it meditation or fantasy, but let your imagination run here. And answer this question:

“If you had no fears or financial limitations, what would your ideal life, one in which you could be totally content and happy, look like?”

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Once you’ve figured out your lifestyle design, it’s time to do a little more soul-searching to figure out what you’re truly passionate about. This is a time to really look within and look back.

Specifically, look back over your life history. When were you the happiest? What did you enjoy doing the most? Remember that what you’re looking for doesn’t necessarily have to be an entire job, but can actually be aspects of your past jobs or hobbies that you’ve really enjoyed.

Think About a Larger Life Purpose

Many successful entrepreneurs have earned their place in history by setting out to make a difference in the world. Is there a specific issue or cause that is important to you or that you’re particularly passionate about?

For some, this process of discovery may come easily. You may go through these questions and thought experiments and find the answers quickly. For others, it may be more difficult. In some cases, you may suffer from a generalized lack of passion and purpose in your life.

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Sometimes, this can come from having suppressed passion in your life for too long. Sometimes, it can come from eating poorly and lack of exercise. But occasionally, it may have something to do with your internal chemistry or programming. If the latter applies to you, it may be useful for you to seek help in the form of a coach, mentor, or counselor.

In other cases, not knowing your true purpose may be a matter of having not discovered it yet: you may not have found anything that makes your heart beat faster. If this is the case, now is the time to explore!

The Internet is a fantastic tool for learning and exploration. Search hobbies and careers and learn as much as you can about any topic that triggers your interest, then follow up at the library on the things that really intrigue you. Again, remember that this is your life and only you can give yourself permission to explore all that the world has available to you.

How Do You Know When You’ve Found Your True Entrepreneurial Purpose?

I can only tell you how I knew when I had discovered my own — it didn’t hit me like a ton of bricks. Rather, it settled over me, bringing a deep sense of peace and commitment. It felt like I had arrived home and knew exactly what to do and how to proceed.

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Everything flowed easily from that point forward. That’s not to say that I found success immediately after that moment. But rather, the path ahead of me was clear, so I knew what to do.

Decisions were easier and came faster to me. And success has come on MY terms, according to my own definitions of what success means to me in my own lifestyle design.

Dig deep, look within, and seek whatever help you need. Once you find that purpose and passion, your life — not just your entrepreneurial life, but your entire life — will never be the same.

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