Transcription
Hey yo, I dare you to stop playing with your life and take this seriously. If you just do these three things, your channel will blow up, and you will be a YouTube millionaire.
See, the haters are saying, "Prince, Prince, why are you making this type of video? You do inspiration." Yeah, but 3/4 of people today are stressed out about money. You can't thrive if you're just trying to survive. Woke don't got to mean broke. It's okay to have money, as long as money doesn't have you.
See, this was me before YouTube. This is after. This is before YouTube. This is after. See, YouTube has helped me build the life of my dreams. And some people out there, they don't think that you can actually become a YouTube millionaire, but I'm going to prove them wrong and show you exactly how to do it in this video.
See, the first thing that you have to do is choose a niche or a category. Do you know why a laser has so much power? It's because it's a focused beam, a spotlight. Yeah, you hit a lot of areas, but a laser can cut through steel. And likewise, you need to laser focus your niche in order to cut through the noise. Remember this: the broader the market, the more diluted the response. You ever heard the saying, "Riches are in the niches"?
And so, you have to ask yourself this one question: Who do you want to impact? Who do you want to impact? And that leads me to the next step. You have to choose a niche that you love. This is so important. And here's a big secret that a lot of people don't want you to know. A lot of those influencers that you see happy on YouTube, let me tell you firsthand, I've met them. They aren't happy. A lot of them are hiding behind their smiles. As they say, "Those who appear to have their together are usually the ones standing in it." I have seen so much, so much burnout because they are workaholics, and that's not a good thing.
See, a workaholic is motivated by fear. A high performer is motivated by love. So, you have to choose a niche that you love, something that you are truly passionate about. This is so important. Now, just because you are passionate about something, it don't mean it's going to be easy. The word "passion" actually comes from the Latin word "pao," which means suffering or enduring. The real definition of passion, it literally means a willingness to suffer or sacrifice for something that is important to you. So, make sure you pick a niche that you are passionate about. Never chase that, never chase the bag. When you chase the bag, you will soon end up in one, both physically and metaphorically. When you chase money, you end up like that meme of the guy who's running off the cliff, right?
See, money, it has to be a byproduct of service. See, Napoleon Hill said, "Provide more service than you were paid for, and eventually, you will be paid more for less service." One of my favorite people, Zig Ziggler, he said, "You can have everything in life you want if you just help enough other people get what they want."
And so, you might be wondering, how do you choose your passion? How do you choose your, your, your purpose, your niche? How do you find it? Well, consider Ikigai. So, Ikigai is a Japanese word, and it means your sense of purpose or meaning for living. And it's one of my favorite ways to find out how to choose your niche. And so, on this side is your gift, right? Your strength. What are you, what are you really good at? What are you talented in, right? What do people say, "Oh man, you're one of the best I've ever seen doing that," right? So, this is your gift. Here is what the world needs. That's what the world needs, right? What is the, what is the world calling for? Here is what you can get paid for. And at the top is what you love. And in the intersection of all of these is your Ikigai. So, you want to find something that intersects between all of those. And in between that is your reason for living, and you have found your niche. I actually want you to stop this video right now and figure, figure that out.
So, now we've got our niche. We know our niche. Now we have to find a "why," right? The only way you will be consistent at this is if you have a strong enough "why." Nietzsche said, "Someone with a strong enough 'why' can overcome anyhow." So, what is your "why"? Right? What do you value? Why do you want to be successful on YouTube, right? What message do you have to give to the world? Yo, and why do you have that message, right? Your "why," it, it has to come from the heart. It has to, because "what comes from the heart reaches the heart," right? So, why do you get out of bed, you know, on those days where you don't feel like it, right? And yes, it will happen, even if you're doing something that you love. I told you about passion.
And remember this: your impact will drive your income. You will generate the most income by impacting something that is close to your heart. Okay, so we figured out our niche. Boom. Check. We've also figured out our "why." Check. Now we have to figure out the pain point of that niche. There's an old saying, "Where does it hurt?" You have to think of yourself like a doctor, right? And you have to ask your patients, "Where does it hurt?" See, the size of your bank account is directly related to the size of the problem that you solve. You will have more money by solving a bigger problem. You will have less money solving a smaller problem, right? This is a law of nature. And a million-dollar business starts with identifying the customer and his or her need. So, what pain point do they have, right? What's the problem that you can solve?
Once you figure that out, congratulations, because now you have enough to create the purpose statement. So, the purpose statement goes like this: "Because I value what you value, I will use my gifts (for whatever your gifts or your strengths are) to positively, got to be positively, impact the lives of your community, your group, your niche." Stop this video now and fill this section out. I'll wait for you. Okay, I hope you filled that out.
See, filling out your purpose statement is such a big thing. You have just set up the foundation for your million-dollar business. And now we are going to talk about the ways that you are going to generate revenue. So, number one is ad revenue, right? See, a lot of people think ad revenue is based on views, and it is, but not all views are created equally. It's not all created equally. I'm going to put up on the screen a video that I released this year that got 30 million views, and here's how much money I made from it. Now, keep in mind, this is a short-form video, okay? So, let's do some math real quick. If 30 million views equals $3K, $3,000 on that short-form video, that means the rate per view equals $0.00001 per view. Fair enough. Now, let's say our target is a million dollars, right? We want to, we want a million dollars. To make $1 million on shorts in one video, you would need 10 billion views. So, if you made 10 short-form videos, 10 short-form videos, that means that you would literally need to have on each video 1 billion views. If you made 100 videos, then that means that you would need to have 100 million views on each of them. If you made 10,000 videos, then that means you would need 1 million views on each. So, clearly, it's very difficult to become a millionaire just on short-form video alone. Basically, you can't really get rich from shorts.
Now, how about long-form? Long-form videos? Well, okay, let's take one of my long-form videos. I'll show it right here. So, this was "Before You Overthink." Watch this. It got 20 million views. Now, that video made about $30,000. And keep in mind, those numbers are low compared to other niches because what I do is inspiration, and so, you know, it's a lower CPM, right? What did I tell you? Not all views are created equally, right? The CPMs can vary. The CPM is cost per thousand views, and it's based on how concentrated your niche is. The most profitable niche on YouTube, as you know, is finance, right? See, finance CPMs can be $20 to $50, all the way up to, I've seen it all the way up to $100, which is crazy. So, that basically means that a 1 million view video with a $100 CPM, you just made $100,000, which is insane. And this is for finance. Now, there are some other very profitable niches, and they include real estate, tech, health, business, luxury. Now, you can make millions just from ad revenue, right? People do it. But you have to think, right? If advertisers are paying all of this money to put their ads on my videos, why don't I just create my own product and advertise that on my videos?
The next thing we want to talk about is products. A product is something you create to add value to your audience. Remember, this is not about money. No, it's not about money, right? This is about service. Money is a byproduct of service. And the product could be a physical product, you know, it could be a book, right? It could be merch, it could be music, right? It could be an album. It could be a digital course, or it could be a membership. Products are one of the best ways to really make that million dollars because all you have to do for a product is some very simple math, and you're in control, right? So, to make $1 million, here are the ways, right? Basically, you sell one product to one person, and they give you $1 million. Now, I don't know if this happens too much. Now, if you were to create a $10 product, which is a lot more reasonable, right? You would need to sell 100,000 of those to make $1 million. If you made a $100 product, then you would need to sell only 10,000 of them. Now, if you have multiple products, say four products, and you're selling, you know, 25 of them a day at $30, in one year, you have reached $1 million. See, this is why math is so important, guys.
Now, the next stream of income is called brand deals, and I'll put speaking in here as well. So, with your YouTube success, right, your visibility, you will get inevitable brand deals. See, I have never solicited my services to speak, but from YouTube, I have gotten up to six-figure speaking engagements for just an hour on stage. So, it's possible. It's amazing what you can do when you actually create a big brand on YouTube. See, brands will reach out to you because they see how concentrated your community is and how much value, value you're giving. See, they know the power of influence. They know that eyes equal dollars.
So, having multiple streams of revenue is so important. But it doesn't matter which stream you pick, you will need one thing, or your business will fail, and that's exposure. The great P.T. Barnum said, "Without marketing, something very bad happens: nothing." If you're a creator, then you know that going viral is the fastest way for success on YouTube. It's a cheat code. But some people, for some reason, they think going viral is luck. It's not. It's a formula, and I want to teach you that formula at my "One Video Away Viral Bootcamp." If you are finally ready to have millions of people knowing about you, your business, your art, listen. Stop hitting your head against the wall to figure it out on your own. This bootcamp is for you. It's totally free. Just click the link below, and I will see you on the other side in just a second.