Last Updated on April 16, 2023 by Andy Park
Alright, my dear diversification devotees, gather ’round because today, I’ve got a little cautionary tale for you. You know how people always say “don’t put all your eggs in one basket”? Well, I’m here to tell you that it’s true – whether you’re investing your hard-earned cash or your precious time. Let me tell you a story about my YouTube journey, which proves that sometimes, life throws curveballs that are beyond our control.
The Rise of My YouTube Empire (or So I Thought):
Once upon a time, approximately two and a half years ago, I embarked on an epic quest to create the ultimate YouTube channel for productivity tips and tricks. Things started picking up, and before I knew it, I was knee-deep in video production, upgrading equipment, and polishing my editing skills. My YouTube side hustle was born.
The Perks and Pitfalls of Ad Revenue:
Fast forward to two years later, and I found myself relying on ad revenue to support my channel. Sure, it wasn’t a fortune, but it helped cover expenses like software subscriptions and equipment upgrades. Heck, I even set up an LLC to keep my YouTube money separate from my personal dough.
The Great YouTube Revenue Plunge:
Then, disaster struck. Just weeks after switching my Google AdSense account to my LLC, my ad revenue plummeted to a mere fraction of its former glory. Despite a 50% increase in views and watch hours, I was now earning a measly quarter of what I used to. Countless emails and Twitter DMs to YouTube’s partnership support team went unanswered, with the only response being some generic mumbo-jumbo about “invalid views.” Cue the dramatic music.
From Side Gig to Sidelined:
So, here I am, with a once-hopeful YouTube channel that no longer makes financial sense. My two-and-a-half-year investment in the platform came to a screeching halt, leaving me stuck and wondering what what I should do with this channel.
The Importance of Diversification:
And now, my friends, we arrive at the moral of the story: diversification is key. If I’d only considered other platforms and revenue streams, like IG, FB, and even teaching platforms like Skillshare, I might not be in this pickle. But hindsight is 20/20, am I right?
So, the next time you embark on a new venture, take a moment to ponder: how much control do you really have? And what happens if the rug is suddenly pulled out from under you? Diversify, dear reader, and save yourself from the perils of putting all your eggs in one basket.