As we approach the end of 2024, I’ve been reviewing the finances of my content creation endeavors, thinking that an insight into their financial aspects might prove valuable to those interested in this topic.
This breakdown will walk you through exactly how much I earned and how much I spent to keep this business running.
Let’s begin with earnings. My primary revenue streams stem from monetizing my YouTube content through advertisements and generating income through the Medium Partner Program.
- For the entire year, advertising revenue has amounted to a modest $412. In stark contrast to the considerable effort and energy expended, the resulting yield is disappointingly meager.
- The Medium Associate Program contributed a significant $82 this month alone. I successfully secured a lucrative freelance opportunity, generating an additional $392 by writing a paid article for a corporation that stumbled upon my work on Medium in June. Since this lead came from Medium, I have incorporated it directly.
I’ve declined several sponsorship opportunities because I exclusively endorse products that align with my values and artistic vision. Since my full-time job fully covers my living expenses, my primary focus isn’t currently on generating revenue from my content.
Let’s examine the invoices – a crucial aspect of our financial portrait.
1. Workers & Gear
Most of my expenditures are dedicated to purchasing equipment and hiring external professionals.
- To elevate the quality of my content, I dedicated a specialized MacBook exclusively to creative endeavors, distinct from my primary work device, and upgraded my audio equipment to include the .
- As the initial modifications fell squarely on my shoulders, I quickly discovered that the sheer volume was unsustainable. In April, I engaged a contract editor and introduced a fixed monthly fee of $2,000 to ensure consistent content production, particularly following the launch of my free Skool group and comprehensive programs.
2. Software program Subscriptions
Many software programs facilitate the content creation process by streamlining tasks and simplifying workflows.
- Can we afford a $99 monthly bill at our current budget?
- I utilize ChatGPT or Gemini for $20 per month and Canva at $120 annually to streamline content creation and enhance visual presentations.
- As a valued member of the Skool Masterclass, I’m investing $125 monthly to gain expertise in running a successful and lucrative community.
- Leveraging a suite of productivity tools, businesses can streamline their workflow with integrations like Loom for video hosting, Testimonial.to for gathering feedback, Grammarly for writing assistance, Zapier to automate tasks, and GSuite for a comprehensive suite of applications, all priced around $70-$80 per month.
3. Adverts
With zero advertising expenses incurred to date, I’ve opted for a reliance on organic traffic generated solely through the visibility of my content across various platforms.
Significant discrepancy of $20,246.
How could anyone continue after such a crushing defeat? This investment strategy provides a sustainable source of funds for the future. Focused on building trust and crafting resources that deliver value far exceeding what paid options typically provide. The validation from others further solidifies the effectiveness of this approach in striking a chord.
Wrapping Up
This is a financial summary of the costs required to sustain my content production throughout the year. Building something substantial requires dedication and perseverance to yield lasting rewards.
