079: You Don't Have a Business

I was watching a video on YouTube and the person in the video was an animator. They were discussing how they and others with similar channels review animation, movies, comics and sometimes illustrate and animate popular characters. I live in a state of constant anxiety, I could wake up one day and the channel I worked so hard to build has been demonetized. This is our livelihood and how we eat... Here’s the thing: The Platform has the Power You may have built up your channel and provided entertainment but YouTube created the platform, purchased the servers, keep the app updated. Since that is the case. The Platform has the Power So do you have a business? Are you a product on another person’s platform? Ask yourself are you replaceable or a substitutionary product? Are you easily replaceable? Here’s an example. If YouTube were to go away today, would you still have a business? If the answer is no, it’s time to look at your business because right now you are at the mercy of YouTube. It is time to start rethinking how you have set up your business. This is why I created the video: https://www.youtube.com/watch?v=pvxqzbEX8uQ https://nathanallotey.com/tv/063-the-product-spectrum-for-freelancers/ The core of any business is the exchange of value. What do you have to offer that is of value? I strictly think of YouTube as an audience or a place where people gather to watch videos. Some may become my client or customers and some may just watch a video or move on but relying on this as the sole income source is too risky since YouTube can do WHATEVER THEY WANT and many times in the case of YouTube, they do whatever they want and tell you later. Social media is an acquisition channel YouTube, Twitter, Facebook, Instagram these are all places people go to for news and entertainment and businesses purchase ads on these platforms. The primary goal of these platforms is entertainment and they stay open by advertising and the platform in a sense will shift to whatever advertisers want. YouTube used to have ads that were skippable, now they have ads you cannot skip and sometimes show 2 ads in a row back to back. One way YouTube has changed is I’ve noticed views on my channel are down because there’s an emphasis on promoting videos with ads so youtube can make money. You have to find another way to start diversifying how you make income so you are not solely dependent on one outlet. Job security is another thing, we have to ask the same thing of our day jobs. If you were to lose your job today what would you do?