Making Your Channel a Business | Master Class #1 ft. Tim Schmoyer

Hello creators! How are you guys? It’s
great to hang out with you for this Creator Academy Master Class on how to
turn your YouTube channel into a business and how to really dominate the
monetization side of what you’re doing on YouTube. In case we haven’t met before,
my name is Tim Schmoyer. I am a YouTube creator just like you. I uploaded my
first video to YouTube on March 2nd 2006, and then a few years later in 2010 I
started professionally working with creators, helping them grow their YouTube audiences. I love it. And one of the things that I love doing is helping
creators make their content financially sustainable. Now my channel, over at Video Creators, six months after I launched it, it had around 3,000 subscribers and it was
generating about $10,000 a month. Yes, YouTube has an awesome way of
generating revenue right here on the platform with Adsense and Super chats
and other things we’re going to talk about here, but having a bigger business
model around your content is very important for making it financially
sustainable. Which is what we’re gonna really dig into here today. In order to
grow a really solid business around your channel, you first need this grow a
really solid audience around your channel. But to really do that well, we’re
gonna have the change a little bit about the way we think. Most people, most
creators, they come to YouTube with an employee mindset. An employee thinks that “it is my job to put in time, and it is someone else’s job to give me money, a
paycheck, as a result of that”. A small business owner thinks “it is my job to
figure out how to create value and then monetize that value”. And that’s the
direction we want to go with this Master Class series. So what is a business model in the first place? A business model describes the rationale of how an
organization creates, delivers and captures value. The cool thing about
being a YouTube creator, is that you already have most of the elements of a
successful business model in place on your channel. The main thing that you’re
missing probably, is a mechanism for how to capture good value. In order to really
start delivering and capturing value well on your channel, there’s a few
things that you need to define pretty clearly. The first one
is “who is your target audience?”. Who is the most ideal person to be a subscriber
on my YouTube channel? Make this person pretty specific. It’s easiest if you’re
targeting someone who’s just like yourself, because you know yourself, so if
you are in your own target audience that can make it really helpful. But you just
need to know who that person is, so that that person one, wants to subscribe to
your channel because they feel like, like “I love this creator, I feel like this
creator is talking to me”. The second thing you need to know is “what is the
value proposition of your channel?”. The value proposition is just a fancy word
for what value do you propose to deliver to your target audience through your
YouTube videos. Being able to answer the question “why should someone subscribe to my channel? What value are they gonna get from me predictably, consistently in
every single video? What is it they’re coming to me for? Why are they watching
my content? What difference is it making in their lives?” Like all those questions
are really important, because that’s actually the value you’re delivering and
that’s later the value you’re gonna end up selling. For example on my channel at
Video Creators, the target audience – I actually named it after the target
audience, Video Creator so that was helpful – but it’s like, it’s hobby YouTube
creators like yourself. That’s the target audience. And then the value proposition
is “I’m gonna teach you how to master YouTube so you can spread a message that reaches people and changes their lives”. So that’s the “what” of my value
proposition, is to master YouTube. And then the “why does that matter? why should we care?” is because this is an amazing platform for reaching people with a
message that can like really make a difference. I’m sure you’ve experienced
lots of stories on your channel of people who are like “this story changed
my life, this changed my perspective, this may be think differently about this
thing” or whatever. So the best value propositions include both the what
you’re doing and the why it matters. The “what” tells people what they can expect,
but the “why” is what’s gonna get them to start getting emotionally engaged. So if
you have an educational channel for example – it’s like a tutorial, DIY,
teaching channel, showing people how-to stuff, whatever – like those have a very
clear value proposition, like my channel. Like we’re gonna teach you how to do
something that you care about. That value proposition is easy. What
about those of you who are making more entertainment based channels, though?
Would it be more like you’re vlogging, and you’re gaming, and more narrative-based content. Like what’s the value proposition there? Like what value are you
actually providing? Well you guys are actually providing a tremendous, very
powerful value that’s maybe a little bit beneath the surface, but often it’s a
very high relational value. You guys are making people feel like “I’m hanging out
with this person. I feel like this person is my best friend. I feel like I know
this person. I really love the stories this person is saying because they
give meaning to the story that I’m experiencing right now, that I’m living,
or whatever”. Right like that relational value is so, so powerful. I
know we’ve been throwing around a lot of fancy terms here so let’s just recap
make sure you’re on track with where we’re going here so far. You have the remember that
it’s important to grow an engaged audience around your YouTube content. And then you also need to grow the audience with the strategy of how you’re going to capture
good value from them in return. And the plan that you set in place for how you
are going to create, deliver and capture value is what’s called a business model.
In order to best implement a business model on your channel you need to know
one, who your target audiences, that is who you are serving and the people you
are trying to reach through your content. And then two, your value proposition, that
is the value you propose to deliver to them that’s going to get them to want to
subscribe and watch your content in the first place. I’d love to hear from you
guys in the comments below – what have you done to start growing your YouTube
channel into a business? Share the insights that you’ve learned, the things
that you’ve discovered with the rest of us so we can all learn from each other.
Thanks for hanging out with me a little bit here, and we will see you guys at the
next Creator Academy Master Class. See then. Bye!

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