Capitalize on Creativity
The culture of consumption, specifically media consumption, has undergone massive transformation over, oh, I don’t know, the past decade or so. This transformation on-the-whole takes the form of people leaving major media outlets and finding their way to the hyper-niche, individual creators of the internet. Insert the creator marketplace here.
The creator marketplace is a term used to describe those who create and monetize digital products and content. Often, these people are operating on a small, individual scale. YouTubers, streamers, writers, influencers, various crafting persons; these are the type of people that come to mind when thinking of “creators”.
The creator market is currently generating massive amounts of revenue. Billions of dollars are created by thousands upon thousands of individuals annually. Should you decide to choose this path, a general guideline is provided below. It’s not comprehensive; it’s not meant to be. These are merely some things to keep in mind should you have the discipline required for long-term development.
The first step to success is establishing an active online presence. If you don’t like being online, specifically social media, try taking a different perspective: it’s not a museum for an individual’s vanity, it’s a vast network of financial opportunity. The primary purpose of this online presence is to serve as outlets for content publication. As with most things, moderation is key. You don’t need 40 channels for content distribution. Anywhere from 3-5 is appropriate. These channels should act as libraries that document your creative process. One channel displays imagery of the product (Instagram), one channel writes about the product (Twitter), one channel educates consumers on the product (YouTube), one channel can be used to discuss the product experience (Facebook). Do you have to use these platforms specifically? Not at all. But they are extremely popular, and that’s something to be considered.
Another major factor in the success of being a creator is authenticity. Authenticity is what the foundation of a supporting community is built upon. Constantly playing a character or trying to keep up a false narrative is extremely energy demanding, both physically and financially. Being authentic sets the table for stable long-term support. Joe Rogan is the supreme example of an authentic creator (whether you like his content or not). The man is simply unbothered by what his critics have to say. Authenticity allows people to see you for who you are: a person doing what they love. This gives them the opportunity to identify with your creations. Everyone has flaws, and everyone makes mistakes. It’s important to not get caught up in what people say you should or should not be doing, and simply do what you feel is the right thing.
Next comes the financial aspect, which, arguably, is the whole point of doing this. Creating content can be extremely time consuming, and with freelance services becoming increasingly popular, it’s easy to outsource content creation skills to others. While this is convenient, it can also cut into your bottom line over time. A simple way to mitigate this: learn the skills yourself. You don’t need to go out and invent a new data mining algorithm that could power a Fortune 500 company, but you should familiarize yourself with some basic graphic design, photo-editing, copywriting, and video production. Some of you might be thinking “why would I learn these skills, when I could pay someone to do it in half the time?” This is a mental trap. Learning the basics of content production can help you on multiple fronts:
1. You net more profit.
2. You’re familiar with the ins-and-outs of what people will be doing once you do decide to outsource production. This will provide you with favorable leverage when negotiating prices for projects.
3. Should you decide to re-enter the labor market, you now have an expanded skillset that can be leveraged to earn more income.
Ownership of content is another thing to keep in mind. When creating content, but using other’s platforms to host it, you have to retain as much ownership of the content as possible. Owning property, regardless of its form, is a major key to establishing long-term wealth. Owning the rights to the content you create gives you the final say in deciding what to do with it; this is invaluable.
Last, but certainly not least, creators need to be aware of how taxes will be deducted from their income. This is something that people often forget to account for (understandably so, since taxes are only filed once a year). Just because you create content and receive paychecks from these digital hosting platforms does not mean they’ve done the tax paperwork for you. We won’t provide all the details on paying taxes as a creator (because we’re not tax experts), but this is extremely important part of this career path, strictly for the legal reasons, if nothing else.
The opportunities in the creator space are as vast as the stars in the night sky. Should you decide to pursue this career, keep in mind these key takeaways:
- Success is driven by two major things: 1) consistent publication of your content, and 2) being authentic with your audience.
- Things take time to develop. Being a creator relies heavily on compounding interest. You have to plant ideas into the world and give them time to grow and develop. Give these ideas the care they need, and people will eventually come to consume them like wildfire.
- Like any market, the demands for types of content are dynamic. Fads come and go like the wind. It’s important to keep an eye on the shifts in culture and consumption trends, so you don’t just grab people’s attention, but keep it over a long period of time.
Hopefully, this guide can provide some insight to those looking to expand their personal opportunities. If you’ve read this far, your attention is greatly appreciated.
Cheers!