Jay Clouse (Creator Science): How to Make $500K Online as a Knowledge Creator
Jay Clouse (Creator Science): How to Make $500K Online as a Knowledge CreatorJay's advice for new creators and the pros and cons of creator monetization channelsDear subscribers, In my last post, I wrote about how you can build a thriving business by turning your knowledge into income online. Today, I want to share an interview with Jay Clouse, a creator who’s on track to make $500K this year from his online business. Jay is the founder of Creator Science, a newsletter, podcast, and community dedicated to helping creators succeed. In our interview below, we cover:
How Jay got started as a creatorWelcome Jay! Can you describe how you got started? I was a PM at a healthcare company before becoming a creator. In 2017, that company changed its strategy and canceled my product. So I decided that it was time as any to try something new. I didn’t know what I wanted to do, and for awhile I made a living doing freelance web design and copywriting. I also started a newsletter that I wrote everyday and a community for other founders and creators. Those efforts eventually led me to start my company, Creator Science. What’s the best and worst thing about being a creator? It’s the same answer for both - I have full control of my time. The best part of being a creator is that I get to decide what I spend my time on. The worst part is that I have full responsibility for the outcome. Over the years, I expanded from a newsletter to multiple creator products:
As you can imagine, building all these things at once can be exhausting. It’s challenging to make a decision on which part of the business to spend time on everyday. How to start from scratchIf you had to start from scratch again - what steps would you take? Great question. Here’s my PARTS model for becoming a professional creator:
How do you identify what your purpose is? To develop a strong purpose, ask yourself these questions:
I notice that many creators help others become creators. Is that a valuable niche? I think it’s a small market that can be profitable if you position yourself well. Professional creators are a subset of entrepreneurs and entrepreneurs themselves are rare. But it can be profitable because there's a clear outcome that people desire – making money online. The pros and cons of different creator revenue streamsLast year, you made over $350K as a creator. What were your top revenue streams? 95% of my revenue came from just four sources. I’ll explain the pros and cons below: Paid community memberships (48%)
Sponsorships (16%)
Services (21%)
Digital products (9%)
Digital products sound like a great way to scale a creator business. Do you have an example of a creator succeeding with that revenue stream? Yes, Justin Welsh has built a great digital product business. If I could summarize his business in one word, it’s focus.
He’s built a very simple funnel that drives the majority of his $3M / year business: Yes, I love the simplicity of it. The more experienced I get as a creator, the more I realize that keeping your growth loop simple is the way to go:
Commit to this loop for a few years and you’ll be surprised by how far it takes you. Could you summarize your advice for aspiring creators?
Thank you so much Jay! If you enjoyed this conversation, follow Jay on Twitter and check out his creator newsletter. Creator Economy by Peter Yang is free today. But if you enjoyed this post, you can tell Creator Economy by Peter Yang that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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