YouTube has become a powerful platform for content creators to showcase their talents and make money. While many believe that reaching 1,000 subscribers is a prerequisite to monetization, there are still ways to make money on YouTube with a smaller subscriber base.
In this blog post, we will explore effective strategies that can help you generate income on YouTube, even if you have less than 1,000 subscribers.
Introduction to Make Money
Making money can dramatically improve your life. Having extra income allows you to pay off debt, save for the future, and afford necessities and luxuries. While getting rich quick is usually not realistic, with some effort, anyone can find ways to make more money. This comprehensive guide covers proven strategies for earning additional income.
Develop Marketable Skills
One of the best ways to make money is by having skills that are in demand in the job market. Here are some lucrative skills you can develop:
Learn to Code
Master a Foreign Language
Knowing a foreign language gives you the ability to teach it or do translation work. Spanish, Mandarin Chinese, Arabic, and German are languages with significant global demand. You can use language learning apps and take classes to become fluent. Once you reach an advanced level, you can start applying for jobs or freelance gigs.
Learn Digital Marketing
Digital marketing is a lucrative, in-demand skillset. Learning social media marketing, Search Engine Optimization (SEO), pay-per-click (PPC) advertising, email marketing, and analytics can make you very employable. Digital marketing skills open the door to freelancing opportunities and full-time jobs. You can gain these skills through online classes, certifications, and hands-on experience.
Develop High-Value Artistic Skills
Certain artistic skills are profitable. These include illustration, graphic design, photography, video editing, animation, and more. Build a portfolio and offer your services on creative freelancing platforms. Artistic skills allow you to make money online and locally.
Bookkeeping is a stable in-demand skill. Many small businesses need help managing accounts and finances. You can learn bookkeeping basics through community college courses or self-study programs. Offer your services to local businesses or freelance online. Bookkeeping provides reliable income as a side job or full-time career.
Mastering profitable skills gives you options to earn income through freelancing, online work, and local jobs. Choose skills aligned with your interests that are valued in the marketplace.
Leverage Online Platforms
The internet offers many money-making opportunities if you know where to look. Here are some of the best online platforms for making extra money:
Sell on Etsy
Etsy is a marketplace for artisans and crafters. If you have creative skills, you can open your own Etsy shop. Offer handmade items, custom products, vintage goods, and craft supplies. Etsy makes it easy to set up your online store. You keep the majority of sales profits from your creations.
Publish on Kindle Direct Publishing
Kindle Direct Publishing allows you to self-publish eBooks and paperbacks. If you’ve ever wanted to write a book, this is the easiest way to get published. Books can be sold on Amazon and you earn royalties on each sale. Just follow the steps to format and upload your book.
Teach Classes on Udemy
Udemy is an online learning platform where anyone can create courses. If you have expertise to share, make an online course teaching your skills. Udemy handles hosting, marketing and student enrollment. You earn money from tuition paid on your classes.
Complete Tasks on Amazon Mechanical Turk
Amazon Mechanical Turk offers a crowdsourcing marketplace for completing micro jobs. Called Human Intelligence Tasks (HITs), these include data entry, surveys, content moderation, transcription and more. Anyone can sign up on Amazon MTurk and earn small amounts per task.
Provide Services on Fiverr
Fiverr allows you to sell digital services in a freelance marketplace. Offer creative or business services that you can provide digitally. Gigs start at $5 but can go up from there. Fiverr streamlines the process of selling your skills online.
Leveraging online platforms expands your money-making options. Choose a site that aligns with your skills and interests to earn income from the convenience of your home.
Start a Side Business
Starting a side business is a proven way to generate additional income. Here are some potential side businesses you can launch:
Offer Freelance Services
Offering freelance services related to your skills is an easy business to start. Sign up on sites like Upwork, Fiverr and Freelancer to access job opportunities. Set your own hours and rates. Freelancing leverages your expertise into income. Popular services include writing, programming, design, consulting, and more.
Sell Handmade Products
Turn your hobby into income by selling handmade items. Offer products like jewelry, candles, soaps, clothing, woodwork, crochet, quilts, ornaments and other crafts. Sell online via Etsy and similar marketplaces. You can also sell locally through art fairs, markets and pop-up shops.
Provide Child or Pet Care
If you enjoy caring for children or animals, provide these services to generate income. Offer babysitting or pet sitting for neighborhood families. You can also walk dogs, clean litter boxes or house train puppies. Spread the word about your services through community message boards and local social media groups.
Everyone needs help keeping their home clean. Start your own home cleaning business. Offer services like vacuuming, bathroom and kitchen cleaning, interior windows, and more. Make fliers and post on community bulletin boards. You can also partner with local realtors to clean homes between showings or tenants.
Help students improve their grades by offering tutoring services. Tutor in academic subjects you excelled in like math, science, languages, and writing. Advertise your services at local schools, libraries and community centers. You can tutor in-person or online via video chat.
Starting a side business allows you to be your own boss. Choose a business aligned with your abilities and interests. Offer services, sell products or provide caring services flexibly as a part-time side business for extra cash.
Invest Your Money
Investing provides potential to grow your money over time. Here are some investing options:
Open a High-Yield Savings Account
Interest rates are rising, so it pays to park your cash in a high-yield savings account. Rates up to 2% are now available, allowing your money to earn passive income. Look for top rates from online banks. Setting up a high-yield account is easy and your funds remain liquid.
Get into Peer-to-Peer Lending
Peer-to-peer lending platforms like Lending Club and Prosper allow you to lend money to individuals and earn interest. You provide funding for personal loans and small business loans. Returns typically range from 5-7%. You can invest passively or choose specific loans. Start with as little as $25.
Invest in Dividend Stocks
Dividend paying stocks generate passive income. Look for stocks that steadily increase dividends over time. Companies like Coca-Cola, Johnson & Johnson and Procter & Gamble have long histories of dividend growth. Reinvesting dividends compounds earnings over decades.
Consider Real Estate Crowdfunding
Real estate crowdfunding platforms like Fundrise allow you to invest in commercial or residential real estate projects. You can diversify across hundreds of properties with a small amount of money. Historical returns typically range from 7-12% annually. Some platforms offer monthly dividends.
Cryptocurrencies like Bitcoin and Ethereum offer explosive earnings potential. You can invest in crypto assets directly or use a platform like Coinbase. Look for established coins with solid technology and adoption. Set stop losses and take profit when targets hit. Research technical and fundamental analysis.
Investing generates passive earnings and growth on your money over time. Do your research and speak to a financial advisor to create a balanced investing plan suited to your risk tolerance and goals.
Develop Multiple Income Streams
The more income streams you have, the more money you can make. Here are some ways to develop multiple streams of income:
Monetize a Blog
Launching a blog allows you to earn from advertising, affiliate marketing and selling your own products. Choose a niche you’re passionate about and create high-quality content. Monetize the blog using Google Adsense, affiliate links and selling eBooks or online courses. Blogging can become a sizable income source.
Create an Online Course
Online courses represent a scalable income stream. Platforms like Udemy and Teachable allow you to create a course teaching your knowledge. Record lessons or do live teaching. Set your own pricing. Gain students through organic marketing and paid ads. Top instructors earn over $100k/year.
Build a YouTube Channel
YouTube channels can generate passive income from ads, sponsorships, product reviews and affiliate links. Post entertaining or educational videos in your niche. YouTube shares a portion of ad revenue from qualifying videos. Channels with regular videos and high views earn the most.