In today’s article, I want to share with you How to start a Business on YouTube, the four different types of business models that you can start while having YouTube channel so that you can make money without relying on YouTube Ad Sense.
So if you want to learn about the different business models that you can add on top of having a YouTube channel so that you can make income, then keep on reading. Now, before I dive right into the topic and share with you the four business models that I want to propose, a lot of people, including Roberto Blake and Sunny Lenarduzzi,
Content creators here on YouTube have mentioned that many content creators end up becoming starving artists.And the reason why a lot of content creators are starving artists is because they don’t see how YouTube can really open up a lot of doors to make more money online.
I talk about how relying on YouTube Ad Sense really can’t make you a living and the reason why a lot of content creators are starving artists is because they only rely on YouTube Ad Sense revenue and not other streams of income.
So that’s why in today’s article I really want to share with you or at least propose to you four different types of business models that you can consider while having your YouTube channel so that you can make more money online.
How to start a Business on YouTube in 2021
Now, the first business model that I want to share with you is a service based business. Having a service based business is one of the easiest type of businesses to start because what you’re selling is either your skills or your knowledge.For example, let’s say you’re a really great video editor, then maybe you sell your skill as a video editor to potential clients.
let’s say you are really smart in term of business. Maybe you become a business coach. Regardless of what type of skill or piece of knowledge that you want to sell through service, it’s really cool to have a YouTube channel because your YouTube channel is basically like your portfolio. It’s sharing what exactly you can offer to your audience.
YouTube has been a huge source of traffic when it comes to landing clients for business coaching.
Another great example of this is YouTuber Karin Bohn. Karin Bohn is an interior designer. However, she’s also a YouTuber and a lot of our content is centered around the work she does as an interior designer. I have no doubt that Karin Bohn has been able to book out her clients just because of her YouTube channel.
Not only this, if you look at YouTubers like Peter McKinnon, Peter McKinnon is a photographer. Click here to learn more about his business Empire Obviously.
Now he probably doesn’t take client because he’s so big, but I guarantee in the beginning, thanks to his YouTube channel, it has given him the necessary exposure to book out his clients when he was starting out his photography business.
That’s why YouTube is a huge traffic source for your service based business, so if you have a skill that you can sell, make sure your YouTube channel reflects that skill, really showcases your work and that you’re constantly and consistently creating content so that you can generate more leads into your service based business.
The second type of business mode that you can do while having your YouTube channel is digital products. Digital products are really great way to scale your business and also gain extra revenue. For example,Sunny Lenarduzzi, became a millionaire from selling her course YouTube for Bosses.
What you need to realise is that on YouTube, it’s not just about creating content, but it also acts as a free advertising platform for you as the course creator, as the ebook creator, as the service provider, whatever you want to call yourself because at the end of the day, each video that you do is positioning yourself as an expert and each video that you do, you’re building know like trust with your audience.
Not only this, what you need to realise is that the shelf life of a YouTube video is extremely long. It’s not something like a Instagram story where you post something and it disappears.
VanWhen you create a YouTube video, that video stays on the platform for as long as you decide to delete it. That being said, by simply just putting a link to some of your products or your services, you’re going to be able to generate passive traffic towards your business.
Now, if you’re someone who’s reading this article and getting super excited at the potential of making a lot of money through selling digital products , what you also need to know is that it’s not a smart idea to sell to your audience right away.Doing so takes a lot of time.
You need to be put in a position where you’ve done enough videos, where you actually have an audience and have a community that is ready to buy from you and is willing to buy from you, before you introduce your products or your services.
That’s why if you are a content creator and you’re really interested in turning this into a business, you need to be able to have the ability to see it from a bird’s eye point of view and have the patience to deliver continuous free value to your audience in order to get to that level where they trust you enough to buy your products or your services.
Rome was not built overnight and neither is a business.That’s why you really need to take this opportunity to own your craft on YouTube, give value, create a community, and actually get to the level where your subscribers turn into real potential clients or customers into your business.
If you’re someone who is not interested in starting a service based business or creating digital products for your audience, then the next step that you can consider is starting a product-based business.
What this means is that you can actually sell products to your subscribers once you’ve gotten to the level where your actually have built a community and have built interest from your audience.
A really great example of this is Jake Paul and Logan Paul. They are constantly pushing their merchandise to their audience to buy. They’re not selling courses or ebooks and they’re also not selling services. What they’re selling are products.
Another really great example of this, of YouTubers starting their own product based businesses is all the YouTube or is within the beauty community. You see people like Jeffrey Star, Tati Westbrook, James Charles, all starting their own products because of the exposure that they’re getting from their YouTube channels.
But very similar to the advice that I was giving when I was talking about digital products, you personally need to be at a place where you actually have a genuine community or raving fans that truly want to buy from you.
It doesn’t make sense when you are a new YouTuber with zero subscribers pushing product to people who barely know you. You’re not going to be able to succeed that way and that’s why by going this route, it requires a lot of patience and sweat equity and actually growing your channel and growing your audience.
That’s why the next business model that I want to propose to you is something that most people, even if they have low following count, can actually start and that is advertising and affiliate marketing. Now, let’s say you’re someone who’s not interested in starting digital products.
You also don’t have enough capital to start your own products to sell on YouTube and you’re also not interested in becoming a consultant or a freelancer or someone who just sells their skills.
Well, this option is perfect for you because by treating your YouTube channel as an advertising platform, you’re going to have the ability to sell other people’s products and potentially make some side income through that as well.
A really great example of this are YouTubers within the fashion category. A lot of them have brand deals with brands where they get paid to actually feature some of their outfits.
Now obviously when you’re starting out, most brands will give you products for free in exchange for free advertisement and they don’t compensate you, but over time as you grow and as you show your results to these companies, you’re going to be able to actually be compensated for the things that you feature on your channel.