In 2014, I freshened up from college and thought I had all the plans for my life: go to medical school, get a six-figure job as a doctor, and make my parents proud.
Any work out. I realized I hated blood and needles and was rejected from more than 15 medical schools. My parents were not so happy.
From 2014 to 2019, I took tutoring side hostels, did some modeling gigs, started a drop shipping business and even worked as a real estate agent. But nothing was consistent for me to earn a steady income.
After several business endeavors, I finally found something that worked: posting financial advice on YouTube, Instagram and TikTok. In 2021, my content business brought in $ 1.5 million in revenue – and my mom stopped sending me to-do lists.
How I Made 1.5 Million Business Every Year
I’ve been posting on YouTube since 2006, but the content was random and inconsistent. So I decided that what I really needed to do was learn how to do it right.
Growing up in a painfully frugal family, I was always keen to come up with ways to be smart about earning, saving and investing. In 2018, I created a new YouTube channel dedicated to financial advice. I post almost every day, as well as on Instagram and TikTok.
My first few videos got about a dozen views, half of which were from my mom. I still work weird and earn most of my money through side hostels.
But in April 2020, almost a month after the Covid-19 epidemic was declared, I noticed a spike of interest around stimulus-related content. That month, I posted 20 YouTube videos about stimulation and relief efforts. One of my videos went viral – earning me 10,078 ad revenue and 30,300 subscribers.
In May, I posted 19 videos and earned $ 15,791 from ads. And in June, I signed my first sponsorship deal with the founder of an online educational institution; They paid me $ 250 to create a TikTok post.
I’ve experimented with different types of video content to see which ones are most effective in increasing my audience and attracting interest from brands.
By November, after signing another partnership agreement and reaching nearly 200,000 subscribers, I decided to launch my first online course on how to teach people how to start their own successful YouTube channel.
In 2021, I added affiliate marketing to my income stream. I earned $ 86,000 in January, then scaled to an average of $ 150,000 per month in 2021.
How to create multiple income streams
Today, I have over 650,000 YouTube followers So far this year, I’ve made about 197,700 per month through five income streams – several of which generate passive income. At one point, I made 245,000 a month.
What I like about the business I have created is that I can choose when and where to work. Some days I will work zero hours, and other days I will keep 12 hours. On average, I work 35 hours per week.
Here’s how I created each stream of my income:
1. Affiliate Marketing: 40% of Monthly Income
Through affiliate marketing, I earn commissions for promoting other brands of products or services. I post descriptions of my YouTube videos and affiliate links on my website, then pay whenever someone points to the brand’s product page or makes a purchase.
To make passive income through affiliate marketing, you need to include targeted content links in a niche that people are searching for. It can take months to click, even long after you post. For example, I link to captions based on popular search terms, which I find using the Google Trends tool.
I get most of my affiliate deals through partnership management platforms like Impact Radius, PartnerStack and Share-A-Cell. Builders of any audience size can use these websites to find and join affiliate link programs.
2. Brand Sponsorship: 25% of Monthly Income
With brand sponsorship, companies pay me to mention them on one of my videos or on my website.
Brands usually contact me via email addresses on my YouTube profile, but I also work with organizations like Spacestation to secure more sponsorships.
Finding a niche has helped me grow a loyal and authentic audience, which is critical to my success. I answered questions about covid-related money that no one else addressed. Then I took the ideas to the highest audience and ran with them.
Find your own niche by asking: Is there a specific problem that I can solve with my story and unique knowledge? Understand the insights and outlets of your audience such as age, location and general interest During the negotiation process, remind the brands why those visitors are valuable to them
3. YouTube Advertising: 25% of Monthly Revenue
I earn a quarter of my revenue from YouTube AdSense ads that appear before or during my YouTube videos.
To join this program, you must have at least 1,000 subscribers and 4,000 hours of viewing time in the last 12 months. Once you’ve become part of the program, it’s important to consistently post and create videos based on how your audience responds.
4. Online course sales: <5% monthly income
My “6-Figure YouTube Academy” and “Personal Brand Masterclass” courses are both hosted in Kajabi. These courses take months to plan, research, film, and edit.
For YouTube Academy, I’ve created an outline of what we’re going to teach in each video using notation, an online workspace organization tool, then a slide to play with each video in Keynote. It took me a week to film over a hundred videos, which I edited myself using Final Cut Pro X.
From there, I organized my videos at work and started marketing the course on YouTube, TickTock and Instagram. I don’t spend any money on advertising.
5. Coaching: <5% of monthly income
I meet with clients one by one to discuss how to make their business more successful. It’s a great way to connect with my audience and get to know them on an individual level.
My coaching sessions are done through Zoom, which allows me to meet anyone from anywhere in the world. I charge 60 500 per 60-minute session.
Recently, I started creating StartupWise, a resource platform for new businesses and entrepreneurs. I also work for a company called Side Hostel Mastery, and its complementary newsletter called Hostel Club.
Charlie Chang A content creator and serial entrepreneur whose goal is to educate people about personal money and entrepreneurship. He is a UCLA graduate and its founder Startupwise. Follow him Instagram And YouTube.