Are you making your YouTube channel into a viable online business? Or are you just building an audience and hoping that revenue will follow? In this blog post, we’ll explore why it’s crucial to have a business model for your YouTube channel. While some may think that creating a YouTube channel and building an audience is all it takes to generate revenue. The reality is that having the bare bones basics of a business is essential to ensure that your content is designed strategically to build your business.
Using YouTube to Generate Revenue
From day one, I had a business model in mind for my YouTube channel. I knew that I could generate revenue from the content that I create. However, I noticed that a lot of my clients and students approach YouTube in a different way. They think that if they create a YouTube channel and build an audience, online business will follow.
This approach may have worked in the past, but I believe that the online content creation and online business space has shifted. You need to have the bare bones basics of a business that you are trying to build, so that all the content you create will be designed strategically to build that business.
Revenue Streams for Your YouTube Channel
The obvious question here is, do you have any revenue streams currently set up? If you don’t, you need to piggyback on that and ask yourself if you’re in control of your revenue streams or if it’s strictly ad sense and affiliate revenue.
You need to have a digital product, a course, a program, a one-on-one coaching type of an offer, or even a service-based offer. If you have satisfied clients and customers from those offers, then you have a YouTube channel that is or could be a viable business.
However, if you’re still creating videos aimed at growing your channel and getting more subscribers, rather than aimed at getting the right people into those offers that you have, then you have a viable online business, but you’re not utilizing that viability that you’ve created.
Creating YouTube Videos without a Business Model
Creating YouTube videos without having a business model or strategy at all behind it is like marketing a product without having it available to sell. It’s doing the marketing without having a product or a service to market.
If you’re the type of person who’s just doing this as a hobby or to give back to your community, that’s fantastic. However, what is the ultimate goal of that? Even if it’s not revenue or a business or money, you can still have a content strategy that backs up to accomplishing that goal.
How to Turn Your Channel into a Viable Online Business
Turning your channel into a viable online business doesn’t have to be complicated. It’s really just a matter of knowing your niche, knowing who it is you serve in your videos, and who it is you serve in an offer or a group of offers that you may have so that you can help those people on a deeper level.
To help you get started, I recommend checking out the niche guide from my business mentor, James Wedmore. He has a free training that is above and beyond any free training that I’ve ever experienced before.
Related: Nail Your Niche
Connecting Your YouTube Channel to Your Online Business
If you’ve been building your audience on YouTube and you either don’t have an idea for an online business yet, or you have a business, but you haven’t been connecting your YouTube channel into your online business, make sure you follow me here and even shoot me an email if you’re curious how I’ve been able to do this with a really simple YouTube funnel.
Related: My honest Business By Design Review
In conclusion, having a business model in mind for your YouTube channel is crucial if you want to turn it into a viable online business. It’s not just about building an audience and hoping that revenue will follow. You need to have revenue streams in place, digital products or services to offer, and a content strategy that backs up your business goals. This will ensure that all the content you create is designed strategically to build your business, rather than just building an audience and figuring out how to monetize later.
So, if you’re serious about turning your YouTube channel into a viable online business, start by identifying your niche and who you serve. Then, develop digital products or services that meet the needs of your target audience. Finally, create a content strategy that drives traffic to your offers and focuses on getting the right people into those offers.
By doing this, you’ll be able to build a thriving YouTube channel and a thriving online business that can weather any changes in the online content creation and business space.