Welcome back to The Loaf - a weekly newsletter sharing money and business tips for creators & freelancers
Business: How to Leverage SEO as a Creator [article]
You don't want to be on social media forever, right?
I was feeling drained and tweeted this out of frustration a few weeks ago:
Luckily, there's a way to build an online presence without being on social.
I started putting some effort into my website and written content last year and just this last month, without doing anything, my site received 20,000 impressions on Google. The Creatorbread blog got 13,300 and I just launched the website last September.
If you haven't spent time diversifying your audience traffic, I highly recommend starting with the basics and getting a website & content plan laid out.
Money: Why Most Creators are Financially Doomed [thread]
Are you building an unsustainable business model?
If you rely solely on ad revenue for income, you might be building a house on deteriorating stilts.
Kevin Espiritu (founder of Epic Gardening) shares how he pivoted his blog and YouTube channel from an ad model to a more sustainable, customer-focused model - and why.
Topic of the week: How do I get a business bank account?
To get a business bank account in the US, if you have a business entity like an LLC, the process is relatively pain-free.
Also read: Should my solo business be set up as an LLC?
When you go to apply for an account you'll get asked for your EIN (Employer Identification Number).
You won't automatically have this and you'll need to request it from the IRS. If you use a service like LegalZoom to form your business, they will most likely get it for you.
After getting your EIN, you can apply to whichever bank you prefer, give them your business information and documents, personal ID, and you should have an account shortly after submitting an application.
And that's it.
I've done the process 4 separate times and the only time I ran into an issue was with a local brick & mortar bank that forgot to give me a document to sign, so I had to go back in-person to sign it.
Most importantly, you want to use a bank that doesn't have monthly account fees, minimum balance fees, or any other hidden costs.
Then after you choose a bank and get approved, I recommend have 3 separate accounts:
Note: There's one exception where you can get a business bank account without having a business entity. If you're a sole proprietor, you can generally use your personal social security number as the EIN number to qualify for a business bank account. Not every bank will accept a personal social for a business, but it doesn't hurt to ask if you don't meet the typical requirements.
💰 Have a question about money or business? Hit reply or submit it here
Being a YouTube creator isn't easy. Each new video goes head-to-head against your last videos, and the algorithm only rewards constant improvement.
Akta started her channel in 2020 has grown to almost 6,000 subscribers by focusing on slower, more mindful content. Based on the comment sections, her style resonates a lot with her audience.
Since she began her channel, she's transitioned out of her career in dentistry and is now a full-time creator for Passionfroot.
This week's Money Matters:
What’s one piece of advice you would give to someone just starting out on YouTube?
Find a way of making it as enjoyable as possible. I spent 5 years studying to become a dentist, but I can honestly say that growing on Youtube has been more difficult.
I spend 35 hours on a single YouTube video, sometimes more, and it’s not always easy seeing such slow growth. That’s why it’s important to have to have as much fun as possible and enjoy the process. Create videos that you love, get inspired by watching others, meet other YouTubers so it’s less lonely and find new ways to edit.
Youtube hasn’t changed my life in the way that I hoped it would (yet), but it has changed my life for the better in so many other ways. The most common reason YouTubers won’t succeed is that they give up too early - I always remind myself that I give up, it could have been the next video that would have changed everything.
What’s the best investment you’ve made in yourself as a creator?
I can’t name just one. Every single investment I’ve made has been worth it.
From investing into gear like cameras and a new mic, courses like Ali Abdaal’s part-time YouTube academy where I made friends for life, and even the amount of time I’ve invested, has all led me to be the creator that I am now.
Even learning to become more confident and overcoming the fear of putting myself out there was the single best investment I’ve made for myself as a person.
What does financial freedom mean to you?
I think financial freedom is the freedom to choose how you spend your time without money being a limiting factor. However, it’s not something I spend too much time thinking about.
I think too many of us strive for financial freedom and wanting more money, without really knowing what we want that time for. Instead, I’m much more focused on working out what I enjoy in life, creating joy in my everyday life and working on things that I love.
(Bonus) What’s your favorite thing to spend money on?
Experiences, both big and small. This includes the obvious things like traveling, but also the smaller things in life like going to the cinema for date night, or even buying my favourite tea bags because drinking tea everyday is a daily experience that brings me a lot of joy.
🤷🏻♂️ How to prioritize (when everything's a priority)
📈 4 content styles that drive meaningful followings
📖 A manifesto for creative people
🎥 Watch: How to create without limits w/ Childish Gambino
✍🏼 Freelance Finds: 4 Tips to Write Fascinating Intros