But sponsorships are where the big bucks are made, and where intermediaries like MediaKix and other agencies come in. This is the major leagues: Most brands aren’t interested in YouTube channels with fewer than 200,000 to 300,000 subscribers or average views of less than 10,000 to 20,000 per video, says Asano. The bar is also high because videos cost more to make, and require tricky negotiations —the sponsor will want to know where their product will be featured, for how long, and so forth. “When we’re connecting top brands with top influencers on YouTube, you’re talking a minimum budget of $50,000 to $100,000, and it just goes up from there,” Asano explains. “Some of the biggest YouTube influencers get paid $100,000 to 200,000 for a single video. And then those videos get millions of views. That’s why there’s a lot of money in the space.”
It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.
When it comes to at-home income, selling your unwanted stuff is the definition of “low-hanging fruit.” Even if you’re resolutely intentional in your purchasing habits, you surely have possessions that you can do without: old kids’ clothing and toys, disused sporting goods, out-of-fashion wardrobe accessories, electronics, entertainment, valuable but non-sentimental keepsakes such as watches and jewelry, broken-in furniture, dusty tools and outdoor equipment, and perhaps even big-ticket items like a motorcycle or second car.
Socialize. Especially when you’re getting started, you need to establish contacts who are already immersed in the business. They can act as mentors, keep you up to date on industry changes, and even help you land your first or subsequent job. Look for the local chapter of the Association for Healthcare Documentation Integrity (AHDI) in your area and join.
To do that, you have to harbor a few fundamental guiding principles in your mind. Today, if you're at all serious about generating a full-time income (and more) from your online activities, then you need to focus on passive income as opposed to active income. Sure, the active income will help you survive. That's the scarcity mentality at play. But it's the passive income ideas that will help you thrive.
Again, video is much more expensive to produce than written content, so while it’s always good to be versatile, it’s especially important as a video editor or producer. Try to become an expert in every aspect of video production, from lighting to sound to editing footage. Know the difference between what works on a Facebook Live and what works on YouTube.
You’d do most of your work in a home garden, but you’ll have to spend your weekends away from home. If you love the idea of selling your home-grown produce, but can’t swing being out of the house on weekends, consider selling to friends, family, and neighbors instead. Almost everyone prefers the taste of a fresh picked tomato to a store bought one.
How much will you make? I think my best month with Google AdSense was almost $5,000 over the last ten years. That amazing month blew my mind since it was actually near the beginning of my blogging journey. When you go from making zero to $5,000 in a month, that will rock your world. For me, it also got me even more excited because I knew there were other ways to monetize.