When hearing about people that became crazy rich you think that they either had a really good year or that their income stream was in some way steady. Neither of those options exists in reality, the way they grew is the same way anything else does, it compounds on itself. I get a lot of questions about getting rich too quickly so I decided to explain how this concept works in this post.
How it works
Let’s assume you start a youtube channel and you want to live off the ad revenue. You first need to build up your following. You might start off with 10 or 20 views the first month (unless you have an established channel). Some of your viewers will like that video and tell their friends, you can send traffic to is from social media, the options are limitless. In time some of your viewers will subscribe to your channel to get updates on your new videos.
This whole concept of growth is not limited to what other people do. When you upload a new video you have more content there for you get more exposure. Everyone on those actions is another brick the builds your Youtube channel. That’s why the more known YouTubers have been around for 5, 6 sometimes even 10 years. It simply took time for them to grow.
Some people would like you to believe that the option to become a big Youtube star is over, let me assure you it’s not. You just have to be patient, you have to be willing to put up a lot of work for a while before you see any profits. And that’s where most people fail, they want to see results here and now.
The numbers you should expect
Let’s assume you have no experience at all, so the numbers will be small in the beginning. If you keep posting new videos and sharing them on social media you will constantly grow. Let’s take a 10% growth a month even though in the first year you will grow much quicker.
So you start off with 100 views a month (at this point you’re still not making any money). But next month you have 110 views, then 121 at the end of the first year you should be at 285 views. Still, too little to make a profit on, at the end of the second year you should be at 895 a month. At the end of the third 2810 views a month. Fast forward to your 8th year, you have 855,667 views a month. That’s close to $1,500 a month, and it will just keep growing (if you keep working on it). In your 10th year you could be getting 8.5 million views on your channel, that’s about $15,000 a month.
How to speed up this process
Remember that I told you that you will grow faster your first year? Depending on how hard your willing to work, you can grow 30%, 50% or even 100% per month in the beginning. at a 30% growth rate (that just means you’re paying attention your channel, not working too hard) you can get 972,000 views at the end of your third year, not your 10th.
If you want to speed up this process you have to work hard, post often and share your work in any way you can. It will mean pulling off double shifts, one at your day job and another as soon as you get home. But I think it’s worth it, don’t you?
Starting a youtube channel, blog or any other online business is still a business. And the same rules apply, you have to survive if you want to make the big bucks.