My Journey to Millions on YouTube
I have made millions of dollars on YouTube at the age of 23, and here’s the truth:
Unlike what 99% of YouTube gurus tell you, making money on YouTube is actually quite easy, but it’s a little easy for someone like me to say after I’ve spent 5 years of my life trying to figure out how to make a bunch of money on this platform.
No, I’m not talking about re-uploading some meditation videos.
If you want to make a bunch of money on YouTube, you have to do something much better.
This took me 5 years to understand, which is a very long time.
So let me save you 5 years of your life by giving you the only four viable ways to make money on YouTube.
These are all timeless YouTube income sources, but I have to be honest—the faster you apply them, the more money you’ll be able to make.
The Four Ways to Make Money on YouTube
So unlike what many people think, you can actually make money on YouTube right away.
I mean, you start today, you make money tomorrow.
1. Selling Products
The first method is something that the biggest YouTubers like MrBeast use as well.
Would you rather start making money on YouTube tomorrow or in 6 months from now?
Your best option to make money on YouTube right away is by selling something.
See, most YouTubers rely on the YouTube Partner program to make their money, and even though you can make a lot of money with it, you’re at the mercy of YouTube.
The Importance of Multiple Income Sources
In December 2019, I was successfully monetizing my channel through the YouTube Partner program until YouTube demonetized me.
This taught me the importance of setting up multiple income sources from YouTube traffic.
Physical vs. Digital Products
There are only two types of products that you can sell: physical and digital products.
Which one you should sell depends on the content you create and the audience it attracts.
Product Market Fit
One single thing decides how much money you will make—product market fit.
You have to ask yourself:
- What would truly benefit my audience?
- What do they really desire?
Selling Digital Products
Selling digital products can also be a great fit for you, especially if you’re a small creator.
Creating useful templates that will save your viewers a bunch of time is one of the best examples of how to monetize your views with a digital product.
2. Affiliate Marketing
The next way to make money on YouTube is affiliate marketing.
Affiliate marketing is when you promote products from someone else, and every time you bring in a new sale, you earn a commission.
For example, I earn a small amount from promoting my vidIQ affiliate link.
Which product should you promote, and which videos convert the best?
Finding the right product fit with your audience is key.
A great example is e-commerce YouTubers that become an affiliate for Shopify.
Recurring vs. Non-Recurring Affiliate Programs
When it comes to affiliate marketing, you have to choose between recurring and non-recurring programs.
Recurring affiliate programs can be much more profitable over time.
I recently updated my affiliate product as my business has tripled over the last 8 months.
3. Ad Revenue
The third way to make money on YouTube is ad revenue.
YouTube is the best platform to directly monetize your content.
Once you get the requirements of 1,000 subscribers and 4,000 hours of watch time, you can start earning money.
Keep in mind, though, you’re at the mercy of YouTube.
Revenue Per Thousand Views (RPM)
Your RPM (Revenue per Thousand views) depends on the type of videos you make.
You can earn up to $10 or even $20 per 1,000 views.
The country your viewer is from plays a big role in how much advertisers spend on your videos.
Ad Revenue should be treated as a bonus—you shouldn’t rely solely on it.
4. Brand Deals
The fourth way to make money on YouTube is through brand deals.
A brand deal is when a brand pays a fee to be mentioned in your video.
You can do outreach and email companies you like to work with, but it’s not the most efficient way.
Instead, you can have brands email you by putting your contact email in the description of your videos as well as on your About page.
How Much Should You Charge for Brand Deals?
When it comes to pricing for brand deals, be careful not to undercharge.
Big-time brands have huge marketing budgets, and you can command a higher price as your channel grows.
Final Thoughts
For all of these income sources, the more views you get, the more money you will make.
Starting Your YouTube Channel
The first thing you have to do is, of course, start your own channel if you haven’t already.
Your YouTube account can be linked to your Google account, and choosing your username carefully is important.
Creating and Uploading Content
Once you have your YouTube channel, work on creating content.
Find your unique style and topics that resonate with your audience.
Post videos regularly—at least once a week—to keep your audience engaged.
Don’t forget about tags and keywords to help your content be found by the right viewers.
Monetizing Your Content
To monetize your content, go to your channel and enable monetization.
Ensure you meet the requirements—4000 hours of watch time and 1,000 subscribers.
Affiliate Marketing and Merchandising
Affiliate marketing and selling merchandise can be additional ways to monetize your content.
Use platforms like Fiver for freelance help, or consider finding products to promote.
Growing Your YouTube Income
With hard work, determination, creativity, and belief in yourself, you can make it big on YouTube.
Start sharing your ideas and creations now to turn your hobby into your dream job.
Good luck!