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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 March 12, 2019

20 Inspiring Vision Statement Examples (2019 Updated)

20 Inspiring Vision Statement Examples (2019 Updated)

There is normally a lengthy list of things you need to consider when starting a business, and if you don’t manage them properly, your excitement can quickly turn into overwhelm. What can support you to stay inspired and on the right track when starting out? You guessed it: this is your vision statement.

What Is a Vision Statement?

A vision statement is like a photograph of your future business, which gives your business shape and direction.

A vision statement provides the direction and describes what the founder wants the organization to achieve in the future; it’s more about the “what” of a business. It is different from a mission statement, which describes the purpose of an organization and more about the “how” of a business.

If you were to take a photo of your future business now, what would it look like? What do you want your business to be recognized for one day?

You need to have a crystal clear vision when you start out, otherwise you can get easily lost in deciding the best way forward. When you are making strategic decisions for your business and even daily operation decisions, your vision statement will give you the inspiration and targeted direction you need.

The Importance of a Vision Statement

Without a vision statement, your business will lack motivation to keep going.

If you don’t aim for anything, you might not hit anything. The more specific and clear you are, the better your chances are at seeing your vision turn into reality.

The importance of a vision statement cannot be overlooked; not only does it provide long term direction and guidance, but it also gives you the inspiration and the necessary energy to keep going when you feel lost.

Always keep your vision statement alive by revisiting it regularly and communicating your vision with other members of the team, to inspire and motivate them as well.

How to Craft an Inspiring Vision Statement

1. Dream big and use clear language

An inspiring vision statement should inform a clear direction and priorities for the organization, while challenging all the team members to grow together. Based on our expert sources’ advice, we’ve got some great tips for you:

  • Imagine how you want the business to be like in five to ten years.
  • Infuse the business’ values in the statement.
  • Make sure that the statement is implying a clear focus for the business.
  • Write your vision statement in the present tense.
  • Use clear and concise language.
  • Ensure the statement is easily understood.

There are many different types of vision statements and there is no wrong or right way to do it. The most important thing is to resonate with it. It will always inspire you and give you a clear targeted direction.

2. Get inspirations from the successful companies.

Having researched on a number of successful companies’ vision statements, I’ve shortlisted 20 good examples for the new startups:

Short vision statements made up of a few words only:

1. Disney

To make people happy.

2. Oxfam

A just world without poverty.

3. Ikea

To create a better every day life for the many people.

Quantitative statements are based on numbers, quantities:

4. Microsoft

Empower every person and every organization on the planet to achieve more.

    5. Nike

    Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)

      Qualitative statements are based on qualities that you want to have:

      6. Ford

      People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.

      7. Avon

      To be the company that best understands and satisfies the product, service and self-fulfillment needs of women—globally.

      Competitor based statements – this type is becoming less common, but famous examples are:

      8. Honda – in 1970

      We will destroy Yamaha.

      9. Nike – in 1960s

      Crush Adidas.

        10. Philip Morris – in 1950s

        Knock off RJR as the number one tobacco  company in the world.

        Role Model Vision Statements – using another company as an example:

        11. Stanford University – in the past

        To become the Harvard of the West.

        12. Reach for Success – in the past

        To become the next Tony Robbins in self development.

        Internal Transformations vision statements:

        13. Apple

        To produce high-quality, low cost, easy to use products that incorporate high technology for the individual.

        14. Giro Sport Design

        To make sure that riding is the best part of a great life.

        15. Tesla

        To accelerate the world’s transition to sustainable energy.

        16. Sony

        To be a company that inspires and fulfills your curiosity.

        17. Facebook

        To give people the power to share and make the world more open and connected.

          Longer and more detailed vision statement:

          18. Walmart

          To give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.

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          19. Coca Cola

          To achieve sustainable growth, we have established a vision with clear goals:

          Profit: Maximizing return to share owners while being mindful of our overall responsibilities.

          People: Being a great place to work where people are inspired to be the best they can be.

          Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.

          Partners: Nurturing a winning network of partners and building mutual loyalty.

          Planet: Being a responsible global citizen that makes a difference.

            20. Heinz

            Our VISION, quite simply, is to be: “The World’s Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere.” Being the premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.

            The Bottom Line

            Remember, always keep your vision statement up-to-date to direct your company’s actions.

            Remember, once you reach your vision, it needs to be changed. General Motors overtook Ford as #1 automotive company in the world because once Ford’s goal was reached, they never updated it.

            Keep your vision statement alive and visibly in front of you, revisit it and let it help direct your actions and activities. This is the fun part: this is where you get to dream really big and allow your imagination to fly as high as you want.

            Don’t hold back, let your creative juices flow and give yourself permission to explore what is possible for your business.

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            To your success!

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