Did you know that you are technically a creative entrepreneur if your art is your sole source of income? This is possible for YouTube creators, especially if they monetize on other key platforms, such as TikTok and Instagram.

That is precisely what Roberto Blake does. He has more Youtube likes than fifteen sources of revenue derived from his creative abilities and intellectual property. He instructs YouTube producers in the same manner, and they adore his guidance. Blake’s channel has 34 million views and 500k subscribers.

In an episode of TubeTalk, Blake gives money-making advice. He discusses how to develop a sustainable career outside of YouTube by monetizing content. For most creative entrepreneurs, YouTube isn’t enough. Here are four suggestions for expanding and diversifying your income. 

You Should Not Rely on YouTube AdSense to Support Your Lifestyle.

Most YouTube creators rely on advertising revenue. But, getting money with advertisements is not straightforward. Creators must amass 1k subscribers, 4k hours of Watch Time, and comply with all YouTube policies. If all goes well, they are eligible to apply for the YouTube Partner Program and display advertisements on their videos. But, does attaining this milestone signify that you have “made it” as a creative entrepreneur? Hardly.

“Ad revenues are unstable,” adds Blake. There are simply too many variables beyond your control. 

  • How much ad revenue you’ll generate on YouTube is affected by seasonal fluctuations. 
  • Adpocalypse; a catastrophic occurrence in which advertisers boycott YouTube.
  • How beneficial your niche is. For instance, business and financial channels attract greater CPMs (cost per one thousand impressions) than entertainment channels. 

However, none of this should deter you. Always, aspiring full-time creators have required a second hustle.

Develop a plan for your YouTube channel.

Consider your YouTube channel a business, as opposed to a hobby? If yes, you have the appropriate mindset for digital entrepreneurship. But by drafting a business plan, even the most astute artists may take their visions to the next level.

This single deed is what distinguishes digital entrepreneurs from the rest of the population. Because let’s be honest: building a profitable YouTube niche requires preparation and research.

You must determine:

  • Your most profitable skills.
  • What prospective viewers are looking for on your channel.
  • The income required to work full-time on YouTube.

“Why don’t you prepare a genuine business plan for your YouTube channel and approach it like a real startup? Describe your audience, avatar, consumer, watcher, and the person you wake up every morning to create a video for,” Blake suggests. “Here is what that individual is already purchasing. Here are the individuals with whom they already spend money, including Addison Rae, iJustine, Logan Paul, Marques Brownlee, and Vyyyper.

It is essential to perfect this step of the YouTube journey. You will not have to rely on viral videos to create money if you have a good plan.

Freelance or gig work can supplement YouTube’s revenue.

Can you name the most common error made by YouTube creators who decide to go full-time? We’ll provide a hint: It is unrelated to views or subscribers.

“Too many people stop their full-time jobs too soon and go all-in on YouTube, rather than moving into freelance or gig employment with YouTube,” adds Blake. “Also, they are accustomed to receiving two checks every month and having cash flow. YouTube is paid monthly.”

Consider the numerous tax and self-employment regulations. Your dream of being your own boss could be shattered if you make one of these mistakes. 

Do you need our help? Slowly make your way. It’s better to get some side hustles under your belt before diving headfirst into YouTube full-time. As you shift from an employee to an entrepreneur, keep in touch with your friends and family. Your unexpected tax payments will be covered by the additional funds.

Be Serious About Establishing New Revenue Streams

You have likely learned by now the importance of diversifying your revenue streams. It’s a lifeline when AdSense isn’t enough to cover the expenses.

But how many revenue sources do you need? Blake proposes adding a new source of money to your pay annually.

“I have 17 sources of income,” Blake explains.

These sources of funding include multiple sponsorships.

  • Affiliate income.
  • Brand promotions.
  • Awesome Creator Academy is Blake’s coaching company.
  • Monthly training subscriptions.
  • Independent workshops.
  • Public discourse.
  • Business consulting.
  • Consultation on the technical level.
  • Digital items.
  • AdSense.
  • Superb Conversations.
  • Channel Subscriptions.
  • Premium YouTube service.
  • The YouTube Brand Connect service.
  • Instagram.
  • Music royalties with no copy protection.

How to Secure Brand Partnerships Through Any Social Media Platform

Brand partnerships are an effective method for monetizing your content. If you execute them effectively, they can become a revenue stream that extends beyond YouTube and increases your wage.

“The first thing any creator should do, according to Blake, is making a list of the brands with whom they would absolutely want to collaborate – the businesses with which they would be prepared to work for free,” he says.

Next, identify the creators with whom these brands are collaborating. This provides a sense of who or what these companies associate their reputation with.

To land a brand agreement, you must first do your homework.

  • Identifying a contact for these brands via LinkedIn, Twitter, or their press page.
  • Make contact via email!

Remember that you do not require millions of subscribers to secure a brand deal. According to Blake, firms are interested in the disposable income of their audience. If your YouTube, TikTok, Instagram, etc. followers are between 25 and 55, you can sell more products (and so does the brand). For this, you require a high level of social media involvement. This demonstrates your capacity to motivate, inspire, and sell items.

If you wish to become a digital entrepreneur, each of these factors is crucial. This should motivate you to monetize outside YouTube and establish a business strategy that details your income.

But before you do so, ensure that you have enabled all of the free YouTube creator tools, including those that generate revenue.

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