Do I focus on sponsorships or build a new product?
I have a YouTube channel with about 100K views/mo teaching about finance for startups (+ a newsletter). Been working on these mostly since 2020.
Channel: www.youtube.com/@eric_andrews
In Nov 2021, I launched a cohort-based course that is similar content to my YT, but with live streams, a community, deeper lectures, etc. It has been going well and I have more bandwidth to build something new in 2023.
So I'm considering either:
(A) getting more aggressive around sponsorships (I've done it 3 times, and it is time-consuming because I don't know how to sell more than 1 ad at a time) or
(B) putting my time into launching a job board for my community (I'm getting inbound about people hiring/job hunting).
I think the sponsorships would make more money today, but the job board could be a bigger business a year from now.
Has anyone been at a crossroads between two products like this? Which path did you pursue and do you have any advice for me? Thanks so much for your input.
Have you started your job board?
I would double down on YT, and outsource the job board or use a job board software provider.
I have many tips on starting/growing a job board on my blog:
www.jobboardcoach.com
Thanks, I will check it out. Do you have a favorite job board software?
I'm definitely going to be putting a lot of effort into the YT this year.
My favorite JB software is Jboard.io or Smartjobboard (hosted) when I have the budget. Sometimes on smaller projects, I just use wordpress.
Ok, thank you. These seem like some great options :)
I would continue with growing your YT channel. You're in the finance niche, meaning your CPM is probably a lot higher than the average.
Just post more often! :)
It's true, it is a high cpm and I need to post more :) That said, the course is doing ~4X the revenue of the channel, so I think the bigger revenue opportunities are outside of youtube