When you’re a content creator, you work for yourself. You’re responsible for managing your channel like a business and seeking out new streams of revenue. Running your own business will be a lot easier if you learn how to think like an entrepreneur.
Here are a few ways to think like an entrepreneur when you’re an influencer.
Keep track of your important business metrics.
You should know where both your money and views are coming from as well as how much they’re worth. Use spreadsheets to keep track of your expenses. Start by recording all of the money you earn in a month and where it’s coming from. Break it down by YouTube’s different monetization features as well as your additional sources of income. Then, add up your monthly expenses and determine your financial goals, such as saving for a better camera. Finally, use all of this information to create a monthly budget.
Additionally, dive into your Channel Analytics so you can understand what’s happening with your viewer traffic. Find out who’s watching your videos so you can better cater to your audience demographic. The more you know about your audience, the more you can shape your content to appeal to them.
Set achievable, timely goals.
Any good entrepreneur knows how to set goals for themselves. However, the way you set goals is also important. For example, “I want to reach a million subscribers” is a better and more achievable goal than “I want to be a successful YouTuber.”
Setting SMART goals will be beneficial. This acronym stands for specific, measurable, achievable, relevant, and time-bound. Basically, you can make your goals achievable by first making them as specific as possible and setting deadlines for yourself. So, continuing the example above, your goal would be, “I want to reach the one million subscriber mark by December 31st of this year.”
Build relationships with people who can help you grow.
It’s not realistic to think you can become successful in the business world all on your own. Oftentimes, the right connection can help you get where you want to be. However, it’s also important to have people in your life who can support you emotionally through your business ventures.
Therefore, you should focus on building meaningful relationships with people who can help you grow. Find a more experienced influencer or an entertainment industry professional who can be your mentor. Make sure the people in your network know you care about them as people more than you care about what they can do for you. Check in with other creators you’ve collaborated with, small business owners you’ve worked with, and company representatives you’ve connected with.
Overall, the most important way you can shape your mindset is to stay determined. Entrepreneurs constantly seek out new opportunities, using setbacks as opportunities for growth. Therefore, you shouldn’t be afraid of failure.
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Kristen Harris enjoys listening to a wide range of music, from Taylor Swift to, on occasion, Celtic instrumental. She also spends her time writing, reading, and baking.