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Becoming rich does not only require external factors to fall into place — many personality factors have to align for you to succeed at whatever venture you’ve started. Staying humble and grateful for the progress you’ve made at every step of the way is essential. This is much easier said than done, but the last four steps lay the groundwork to be able to start your own business. If you have a knack for business or want to be your own boss, this can be a great step to making some money.

Convince people that you are worth a large paycheck because you will add value to their lives in return. I’ve been interested in personal finance since high school and have both my undergraduate and masters degree’s in finance. I also have a Certificate in Financial Planning and am licensed by FINRA. I’ve spent over 15 years in the financial services industry helping people with their finances.

However, as many entrepreneurs will tell you, creating your own business requires massive upfront costs and low revenue in the beginning. A different way of looking at your savings is to view them as taxes.

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If you are looking for a clear, safe or reliable career path, becoming a YouTuber is not the right choice for you. Most people, particularly older generations, are not familiar with this career option and simply don’t understand the logistics of it. Even if the person understands it, they likely have their own beliefs and curiosities surrounding your career choice.

It is impossible to always be 100% clear about everything you say so that every single viewer understands your perspective. There is no set amount of time it takes to be able to support oneself on YouTube. Some people take years, others take months, and some don’t get to that point at all.

Once you pay your taxes, you never get the whole amount back. Set money aside in a savings account or transfer it to a totally separate account where you cannot touch it. Treat your savings like money that you will never get back, until the day that you get it all back at once. Adding value to yourself is a good foundation to begin your journey to being rich. Develop some knowledge or skills that justify someone paying you a good amount of money.

  • Remember that when you’re starting out, viewers don’t know you.
  • Sure, YouTube uses your video’s description and tags in its search index.
  • But on the results page, where you’re competing with all of the other videos available for viewers to watch, your title and thumbnail are all you have to separate yourself.

So as you can see it isn’t as simple as saying that the average payment per 1,000 views is $1 so X Youtuber must earn Y. We don’t know how much each YouTuber actually earns, and the above factors have a massive influence on YouTubers of all sizes.

You not only have to create amazing content and promote yourself a ton, but you also have to give it time. In fact, I would argue that too many people waste money on an education when they would be better off going out into the real world. It is good because once the business starts to take off, you will be able to reinvest money back into the business because you are accustomed to it. You are going to have to work harder than most simply because you don’t have the money to buy things that would make the process easier or even hire people. There are many more simple things you can do to save money.

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The producer or “star” of the video has a negative reputation online, which turns potential viewers off to what the video has to say. The content of the video is unoriginal and doesn’t stand out from the competition. o The youtube video editor percentage of people who follow through with the video’s call to action.

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Whether it’s starting a business or investing in stocks, every avenue to making money requires some risk. Even selling your old furniture requires you taking the risk that the buyer will show up and will pay you. It is a comparatively small risk when compared to deciding whether to spend millions of dollars on a new product line, but it is still a risk.