$100k is definitely a milestone. Compared with large scale businesses, it may not be a lot, but when it comes to building from 0 to something that can support you as well as other people, it is a huge milestone, and very worth striving for.
This episode goes through the details of exactly how I was able to attain this very important first milestone. I’m breaking down where the money came from, what it took to get it, some of the obstacles that stood in the way, and how I was able to overcome them to create an online business that supports many people.
Owning a business is a dream for a lot of people, and so I want to help to show you how I got started, to both inspire and educate you on your way. Enjoy!
Click here to listen on iTunes – Podcast #41: How I Made My First $100k Profit On Youtube
Click here to listen on Soundcloud – Podcast #41: How I Made My First $100k Profit On Youtube
Click here to listen on Stitcher – Podcast #41: How I Made My First $100k Profit On Youtube
Key Takeaways:
- Often it is a good idea to think about monetization before audience. If you plan to monetize, it’s important to understand what audience you want
- Physical product sales can go a long way early on
- Informational products have much higher profit margins. You don’t have to sell as much informational products to make the same amount of money
- If you have a large following, look at sponsorships, and be creative about the different things you can offer sponsors
- Affiliate sales can be good, but also depend heavily on your affiliate’s ability to convert
- A lot of people think that they will be able to make a living off of adsense, but often even the top youtubers can’t do this
- Membership websites can be a powerful revenue generator for influencers
Books Mentioned:
- Competitive Strategy
- How to Win Friends and Influence People
- Influence
- Dan S. Kennedy
- The Personal MBA
- Lean Startup
- Traction
- Start With Why
- How to Get Rich
- Blue Ocean Strategy
Mindset Takeaway:
If you’re starting your own business, your first $100k will be a milestone. Focus on ever-increasing goals like that to stay motivated and building, while appreciating each one you attain.
