So you're all ready to start your own TV network. But the question is, what's the business model? How do you make money on this? Let me give you an overview of what the options are. If you're in a large corporate communications department for a big company, this is a slightly different issue, you're already paid. You already have your overhead paid, you're already paid a salary, presumably, the office, the rent, the lights are already paid for, you're already creating lots of communication.

Typically, it's in the form of lots of websites, lots of text and your reports, brochures, position papers, more websites press releases. In this situation, it's simply you continuing to do your job, but in a more sophisticated way, using available technology. Anything you put in a text format for a press release or a website, in my view, you should be doing as a video. Anything you're putting out in a press release, you should have a video component for that. So your profit model your business model is essentially already taken care of. Now, if you're a small PR firm, it's valuable time for your clients.

So if you charge your clients on the basis of your time, anytime you spend creating a video for them a video press release, where you're their spokesperson, or if you're interviewing them, it is billable time. If you're doing pay per placement, you should count this as a placement. Now, if you're a subject matter expert, or a pundit, quite often it gets a little murkier now the best of all possible worlds. You have such a huge audience, that you make tons of money off of advertising, although I have to tell you, you don't make a lot of money off of YouTube advertising I've made you know $1,000 a month or so from YouTube advertising. But that that is not really the way most people get rich. Far better way is to have sponsors.

I mean, let's say you are a subject matter niche on for example, tech startups. You should look at this week in tech startups, Jason Calacanis his show, it might not have millions of viewers on YouTube, but he is so focused on the startup community, it's become the place to reach that community. Therefore, he has tons and tons of sponsors, he sells out six months in advance. And he just delivers the ads right there in the show. And he'll have some of their products right there on his screen, they'll have them on the screen behind him. So that's a great way if you are a subject matter expert, and you're really following a particular industry in a deep way, that's much better way to make money than through traditional advertising because you didn't you have to have so many millions of views in a month to really start making real money.

Now the other thing people do is they use this to simply promote their own brand ID, their own name, to then promote their other services. So for example, I'm not anticipating getting millions of dollars worth of advertising from YouTube off of this video here. The way I monetize this is that through partnerships with Bulldog reporter and other organizations, I put on seminars on how to do this people hire me for media training when creating their own online newscast and also for traditional media training as well how to be interviewed is 60 minutes does come calling. So I only have to have one or two views to this video. If it's the right one or two, and people end up calling me and hiring me. That's how I make mine.

In some ways, it's no different from what pundits have done for a long time. Think again, I'm not Getting anyone's politics today I'm not advertising or promoting any one branch of politics. But think of someone like Ann Coulter. Ann Coulter goes on fox news and other TV programs all the time. She doesn't necessarily get paid for that. But she becomes so famous from that.

She creates such a brand name for herself, that she's then able to leverage that fame on the speaking circuit by getting paid a fortune for every speech she gives. She's able to leverage that to get contracts with major book publishers, and she can then use that sell millions of books and make millions of dollars from the book publishing but it's not because she's paid necessarily a fortune for anyone TV video that she's in. So there are many, many models for how to make money off this, how to monetize it, how to frankly, justify your time. Now for some people, it's simply Passion, they can't not do it. You see this with other media, a lot of great novelist started off just writing a novel and they spent five years on it. It was awful got rejected, they spent another five years writing it.

And it was only their second novel that got published and made them money. Famed blogger andrew sullivan, claims he wrote and I believe it. He wrote almost every day for seven years on his blog before we ever made any money. So there are different models, different business models, different revenue streams. The main thing I do before worrying about that is figuring out do you want to do this? Can you have some fun with this?

If you're not being paid by a big corporation? Is it something you can bring some passion to? And can you connect with an audience what's far more valuable than having some vital video that 20 million people watching never come back to your channel is to have 1000 people who really care about your stuff. Who will come watch every video of yours. I'd much rather have 1000 people who watch every video I do, than to have one or two videos go viral and 20 million people watch it. It's the consistency that's important.

It's building the relationship with an audience. If you do that, there are multiple, multiple ways of leveraging that and monetizing that if you can't build an audience, there's really not much you can do to monetize it or turn it into a business.