As Mad English Lab moves into our 4th Month (I still can’t believe it!), I suggested we really get cracking on some videos for YouTube. Why? Because we are self-funded and need to start rearranging our income stream. Right now, neither Büşra or I have jobs! And we aren’t planning to get jobs!! (Well, I had a job; I’m retired! She had one, too, but this project is more fun…right, B? Right???)
We make just enough money from freelance writing on Upwork.com to fund ourselves, with sometimes a little extra for spending money. But this month we plan increase that income in two ways:
- Büşra will start really looking for private students (either English or Turkish private lessons)
- We will try to make some money from monetizing little YouTube videos that we make! But first we have to make them… Our new Mad English Lab YouTube channel!
We did a little video out at Degirman Restaurant, which you can watch below; that was just to break the ice and get comfortable with the filming process, but now we’re ready to begin our language learning vids! So to kick it off right I’ve suggested a goal of making our first $100 in the next 30 days from YouTube vids. That won’t be easy! Yes, people can and do make money from vids…sometimes they make a LOT. But you have to create good content and find a way to get the word out about it. You also, naturally, need to understand how to monetize your YouTube videos by allowing YouTube to insert advertisements into them.
Those annoying ads you have to Skip after watching a few seconds? That’s how YouTubers generate income from their video uploads! But it takes a LOT of views to make even $1. That is why I proposed making 100 short, simple videos in the next 30 days. Not that much, really; only 3 or 4 a day, every day, and if each vid is under 5 minutes…and if we don’t spent 3 hours editing each one…then it is certainly doable. Some YouTubers spend hours, days, or even weeks crafting a perfect viral video. We are, at this point, more interested in getting practice in front of the camera, so for us, we’re going with quantity over quality–for now.
Very roughly, it takes 1,000 views to make $1 on YouTube, thus it’ll require 100,000 views to make $100. That’s a lot of views, but with 100 videos, we only need 1,000 views each. But wait, there’s more!
If those 100 views make $100 this month, they will, in theory, also make $100 next month…and the month after. Meanwhile, we’ll keep making more videos (if this works), doing another 100 videos next month which might make their own $100. Now we’re up to $200 a month, and remember, once the videos are done, you don’t have to do anything else (except promote them). They keep making money, which is what we call “passive income.” That’s our goal! To do work that generates passive income!!
You see where this is going? If, after one year of doing this concept, we can in theory have set up a system to make $7,800 a year in passive income…
1st month = 100 videos make $100 a month
2nd month = 200 videos make $200 a month
3rd month = 300 videos make $300 a month
4th month = 400 videos make $400 a month
5th month = 500 videos make $500 a month
6th month = 600 videos make $600 a month
7th month = 700 videos make $700 a month
8th month = 800 videos make $800 a month
9th month = 900 videos make $900 a month
10th month = 1,000 videos make $1,000 a month
11th month = 1,100 videos make $1,100 a month
12th month = 1,200 videos make $1,200 a month
Now…add all that up.
That’s $7,800 dollars we could make in a year!
…and once we are done, the videos have a life of their own.
They could potentially continue earning money for as long as YouTube exists and their monetization policies remain the same. 1,200 five minute videos.
That’s 100 hours, not counting preparation, editing and promotion, of course. Most people where we live work 250 hours a month or MORE to earn around $450 a month. They work 3,000 hours or MORE to make $5,400 a year. We can earn that much from freelance writing, and do it in a lot less than 3,000 hours! But why write when we can film? Why write for someone else when we can make videos and have no boss? And again, remember this key concept–these videos can potentially set up PASSIVE INCOME.
100 hours in one year, to set up a passive income stream for thousands of dollars, for years to come! Or, better yet–we could keep doing even more videos!
Some YouTubers make over $1,000,000 a year, doing this full time (or more). Look at Joseph Garrett, aka Stampylonghead, a Minecraft gamer who makes millions of British pounds a year playing his favorite game. He’s still hard at work but he makes so much money he could retire forever, and he’s still in his 20’s.
Okay, so that’s our game plan for Month 4, to get filming and get up on YouTube! Please help us out by watching and subscribing, and if you have a question, let us know! We’re here to help!!
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