My Plan To Make $1 Million In 2021

hey everyone welcome back to the channel in this video i'm gonna break down my projected income or revenue for 2021 sort of my strategy what i'm doing and hopefully this video can be of some value to you i i don't want this video to come off as if like i'm gloating or bragging in any way but it's more so to just kind of break down what it is that i'm doing as as you know this channel is about personal finance we talk about business uh and so i just thought it was appropriate to sort of sort of be transparent with you on what i'm doing with this personal brand and kind of how we're getting to that million dollar mark for 2021 so if you like videos like this make sure you hit the subscribe button i'd really appreciate it and you can also drop a like on the video it'd make my day so thank you and let's get started here now really primarily for the most part uh all of this million dollars is gonna come from my trust fund which kicks in next year uh and this guy i'm sorry i'm i'm cracking myself up this isn't this isn't funny i i don't have a trust fund i guess it would have been nice um but nobody ever thought of that for me so but uh there's really four different sources that this is coming from to get to that mark i really think it's pretty feasible um and like i said i'm probably gonna say this like five times but i i just want to be careful with this video because i don't want it to come off as like look at me like you know or or some type of thing like that and of course i'm not selling you anything so it's not going to be like me going through talking about making money and then at the end just stuffing some course down your throat they have to pay a thousand dollars for and probably never make your money back on it that that's not the purpose of this i don't sell anything okay um so maybe you saw my retirement video uh about a couple months ago i made a video about my plan to retire at 24. this it kind of lines up with that so if you haven't seen that video yet you'll probably want to watch it afterwards to see kind of where this all lines up uh and why it is that i'm doing what i'm doing but basically trying to make a few million dollars in a very short period of time and then sort of be able to coast or try to basically just cruise through the rest of my life without having to worry about you know how i'm going to put food on the table and that's basically the plan you know i'm sure it'll go wrong at some point but that's basically the plan for now okay so i also want to mention just before we start with talking about these four different revenue sources and projections and also looking at 2020 numbers but i also just want to say quickly that i'm i'm really not very smart like if you look at my my grades in school and my sats and everything else and and the reason why i'm saying this is because i just want to make it very clear that i think it's very possible for anybody to do something like what i've been doing in just the past couple of years you don't have to be a genius you don't have to be very smart i mean like i said i'm really not that smart i don't think i'm stupid so i just want to say that as well because sometimes we think oh you know this is not not very possible um but it it very much is okay so let's talk about these different sources of revenue and the first one to maybe surprising to some but maybe not so much to others is actually youtube ad revenue from this channel which has gotten kind of wild in the past couple of years and this is because ad rates on youtube for the finance niche have sort of exploded in in terms of value from the ad rates okay so i'll break this down as easy as possible but basically from this channel i'll pull up some of my ads from this year but you can see that in the past 365 days my average cpm was about 18 25.18 and if we go to let's say just the month of october my my ad rates uh look like they were hold on my ad rates look like they were about thirty three dollars and nine cents uh per thousand views that you earn from youtube right now this is not the whole picture youtube does take a cut of this and then also uncle sam takes a cut of this as well for taxes so this isn't all the money that you end up with at the end of the day to go spend but it is considerably higher than i think what people would assume people might make on youtube there's two reasons for this one because most youtubers just kind of downplay how much they make especially like the big people like shane dawson and david dobrik and everybody just talk about how they're poor i guarantee they're making millions of dollars um but also because uh ad rates in the past they have been low but now they are much higher because we're in 2020 or we're going to 2021 here and so historically you know people just think youtube you make one dollar per thousand views on youtube yes that's probably what people made in 2010 but that's not what is occurring going into the 2020s here 2021 2022 that's not what is occurring because companies are dumping billions of dollars into youtube ads now um and so because i talk about finance and and if this sounds a little bit too good to be true uh you can go and just look at some other finance youtubers and it's not like we're all in on this like faking everybody out there's probably almost thousands of finance youtubers now that you can look up and see their ad rates and you can see that a lot of them their average cpms are somewhere between 20 and 40 dollars per thousand views which basically means that for a million views you're getting about maybe about 30 thousand dollars because it's very focused on finance you know if you're talking about minimalism for example i have videos about minimalism that i make about eight dollars per thousand views because uh no company wants to run an ad on my video or i talk about minimalism and not buying anything companies don't want to run ads on that um and so that's something that's important to notice here so overall you know we can look at a couple months here you can see in october was about 31 thousand dollars in september it was let's see about forty four thousand dollars uh in total revenue that's also including some sponsored deals that were through brand connect i can't really talk about the specifics of those for some pretty obvious reasons signed a lot of contracts there um but yes anywhere between like 30 and 45 thousand dollars per month is what the ad revenue has been from this channel i know it sounds weird but yeah you can just go verify that with like any other finance youtuber so assuming that i can keep the revenue numbers relatively similar for 2021 as it were in 2020 i'm thinking that ad revenue should be about half a million dollars i don't like to rely upon it because honestly i'm on rented land here i mean youtube one day could say nate we don't like anymore we're taking your channel away or they could say you know what we're not going to run ads on your video anymore i saw nelk made like 23 cents in youtube ads from millions of views because nobody wanted to run ads on their videos because they weren't suitable for advertisers okay and also there was something like the adpocalypse back in 2017. i remember this i was just starting my channel at the time where companies pulled all of their ads from youtube and ad rates plummeted and so i can't really rely on ads uh on youtube it's very fluctuating i mean some months it'll be much higher than others and it's not a steady source of income for most youtubers uh going into the future so probably hopefully about half a million dollars assuming that i can sort of scale up a little bit more keep it going kind of keep it at the consistent growth that we've had over the past couple of years so the next source of projected revenue for next year will be from sponsorships so in 2020 i only did about maybe four or five sponsored videos in total over the course of the year that's because i just don't like to do too many of them i think it can get watered down and also i'm not going to promote a company that i don't actually use myself and that i don't actually find value in it because i just think that would be bad for the brand sometimes i see influencers doing that where they're like stuffing like some like cbd oils down your throat and they're just like you need to buy this cbd or this protein powder or something and they probably don't even use it themselves i think the viewer can really see through that so i don't really do a lot of sponsorships but also going back to the idea of how youtubers or influencers are poor i really don't know where this narrative came from um but i can tell you that if somebody has a hundred thousand followers on instagram they can probably be getting five thousand dollars or more for an instagram post and that's not a joke i know that sounds ridiculous but i personally wouldn't touch anything less than that and i know a lot of other people who wouldn't touch anything less than that either and it's just based off of the amount of money that companies are willing to pay and i can just tell you that so many influencers even today if you're an influencer and you're watching this people are under charging they're getting like 300 for an instagram post when they can get many many thousands of dollars that goes with youtube videos as well five figures multiple five figures for a sponsored video that's just the world that we live in today i mean if people know what they're doing that's what they'll be getting um and that's that i mean so so so yeah overall sponsorships should make up uh hopefully about a quarter million dollars or more for 2021. it really depends on how much of them i do in the year but i'm probably not going to do too many maybe just a handful and we should get to around hopefully that quarter million dollar mark we'll see how many we need to do for that and then on top of that there's two other revenue sources here one of them is hopefully from some type of physical product you know that i don't sell online courses i know people who make millions from that i'm just a believer in free information but i do think some type of physical product would be great to add to the arsenal as well so if we could find a way hopefully i'm going to find a way to create some type of physical product that really aligns with my brand so some type of journal or budget planner or something in between i think would be really great to be able to offer to the viewers here on this channel let me know your thoughts down below as well if you have any ideas of a physical product that i could sell and i think this is a great strategy for influencers as well to sort of be able to branch off and have like separate sub brands i know peter mckinnon did that with like a backpack brand and graham stefan was just talking about potentially starting some type of coffee brand uh for for his personal brand that he can create a sub brand and i think this is a really good route to take because eventually people aren't gonna care about what i have to say nobody's gonna know who nato brian is i'm gonna be washed up there's gonna be a lot of other people who come along and just make way better videos way better content and so you can't really rely on a personal brand forever unless you're really really diligent about it but it's going to be difficult to do that so that's why it's important to create some separate sub brands so if i create like a budget planner brand and then i can build that up and then i can sell that or i can run that without me having to be the face of it that's kind of the strategy there so hopefully we can maybe make a couple hundred thousand dollars in 2021 from that i think it's very possible very feasible based off of some of the numbers i've been talking with some other people who have rolled out physical products and now there's really only one other source of income that's going to align with this personal brand and that is from affiliates so for example if you click on the links below and maybe you open up an account with robinhood which is one of the affiliates that i have for my channel then they end up paying me for basically giving them a new customer a new client and they end up paying me i can't talk about how much they pay me um but uh but overall you know from affiliates uh with affiliates combined with sponsors combined with physical product combined with ads should bring me well over the million dollar mark for 2021 now of course that's not including taxes so taxes are going to take out close to half and then you walk away with still a decent amount but there is a difference between income and wealth i just do want to verify that as well but overall yeah that's my plan i just wanted to be transparent about this like i said before too i really think that following the money too much ends up just throwing people off um and so my goals are never money oriented it's more so like this byproduct of getting views or or getting exposure it's sort of like this positive externality from uh whatever it is that i do and it's sort of like this little bonus this this cherry on top thing rather than like the sole purpose of just making money because i don't think you would get very far with that idea or at least i just wouldn't sleep well at night if that was like my primary focus of just like making money off of people so i briefly want to talk about luck versus skill because i honestly think that probably anything that i'm doing right now uh is probably 90 percent luck 10 skill maybe if i want to be nice i can say 80 luck 20 skill um but what i mean by this is that i think with this channel with this personal brand i got really lucky that i stumbled into it at a time when there weren't any finance videos so right now my channel's sort of like the maturity level i've been making videos for like three and a half years um but there were like four people making finance videos when i started so i got really lucky that i was early to it and there's always going to be things that you can be early to as well and that's kind of the idea that i wanted to drive across here that sometimes the stars will align and you'll find this opportunity and i still think there's a lot of opportunity for creating finance videos it's still at a relatively early phase even though it's been about three years into this finance youtube phase that uh there's probably a couple thousand finance youtubers now i still think there's a lot of room for a lot more people so if you want to start a channel i would recommend doing it for 2021 so thanks for watching the video i hope you found some value in it and i'll see everybody in next week's video

Channel: Nate O'Brien

Views: 177,543

Rating: 4.930994 out of 5

Keywords: how to make a million dollars, how to become a millionaire, how to be a millionaire, passive income, how to make money, how to make money online, how to invest, how to build wealth, nate obrien

Id: yKYXDz1d5U0

Length: 12min 50sec (770 seconds)

Published: Tue Nov 10 2020