MrBeast is only 23 years old but he is making close to $50 million dollars a year on YouTube! If you want to be like MrBeast and grow your YouTube channel super fast just like he has, I’m going to break down what you can learn from him.
I’ve broken down his business lessons into 2 categories:
- Starting a business
- Scaling that business
How MrBeast Built A $50,000,000 Business Empire On YouTube
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Startup Lessons from MrBeast
Let’s break down how MrBeast got his start and how he got his first results.
#1: Have a Goal that Drives Everything Else
If you’ve watched any interviews of MrBeast, you know that his #1 goal is being the biggest YouTuber ever.
What’s beautiful about his approach that we can all learn from, is that every decision he makes is filtered through this lens. Does this move me closer to making the best videos in the world?
Here are some examples of what MrBeast probably thinks about when he makes decisions for his YouTube channel:
- Should I hire more people? Does this move me closer to making the best videos in the world? Yes. So hire more people.
- Should I spend even more money on making a video? Is this moving me closer to making the best videos in the world? Yes. So spend a lot more money.
Why is it so important to focus on ONE goal and really double down on it?
Going after one goal helps you have a clear vision about where you want to go so you can make the best decisions to help get you there.
MrBeast’s goal is super clear, which helps him make better decisions.
#2: Be Consistent
MrBeast started uploading videos 9 years ago and a lot of them weren’t very long and they were mostly just about him playing video games.
And three years in, he only had about 2000 subscribers.
Now ask yourself this: If you were doing YouTube or if you were starting a software business or a restaurant or a service business and after THREE years, you almost had nothing to show for it…
Would you keep going?
You’ve got to give the guy a lot of respect. He kept posting videos and iterating and trying again and again — and his consistency paid off for him.
Remember the old saying: hard work beats talent when talent doesn’t work hard? Consistency works the same way. Being consistent can get you a lot of results that talent alone can’t get you.
So aim to be consistent if you want great results.
#3: Build an Audience First, then Create a Product
If you don’t have a business idea — build an audience and then create the product.
I think this is an interesting approach from MrBeast. He didn’t open up MrBeast Burger until he had almost 50 million subscribers!
|I actually have a video taste testing Beast Burger, you can check it out here.
Before that, MrBeast was making money mostly just from brand deals and YouTube ads.
I’m not telling you to wait until you have 50 million subscribers until you create a product (very few people have that to start a business) but the lesson here is if you don’t have a magical business idea — you could start by building your audience instead.
Maybe you start on YouTube or TikTok or email (I recommend using the tool we built, SendFox) — and then find out what kind of product that audience wants.
And remember to commit to the Law of 100 when you start. Aim to post 100 videos or get 100 subscribers or send out 100 emails or stick to it for 100 days… Whatever it is, just don’t even think about giving up until you’ve done it 100 times.
How to Scale Like MrBeast
Now let’s break down the nitty gritty details about how MrBeast grew his channel — after he only had 2000 subs after 3 years!!
This section’s good.
If you’re trying to grow your YouTube channel, pay attention to this section.
#1: Reinvest Into Your Business
First off, reinvest all of your profits into your business.
Ever since he earned his first dollar from YouTube, he’s reinvested every single penny back into making amazing videos.
“Literally from the time I was 12 until now, I’ve just reinvested everything I made and things just literally got crazier and crazier and crazier and the views just kept going up. Like if you just literally look at the first video, it’s just a slow progression.” -MrBeast
Think about this for yourself.
If you started making tons of money and you’re wondering if you should enjoy the perks of it now or later — enjoy it later. Put it back into your business so you can turn your $1 into $2… or even $10!
In one of his first sponsored videos, a company paid him $10,000.
He gave it away to a homeless guy in a video and it worked! That video got close to 10 million views.
And he kept doing stuff like this. He found something that worked and he kept doing more of it.
Now in some of his videos, he’s giving over a million dollars away.
One of the quotes I love thinking about that MrBeast’s manager Reed Duchscher told me one day was that…
A lot of people work really hard to get the Ferrari. Jimmy works really hard so we can give the Ferrari away and then later own the car dealership. -Reed Duchscher
|Check out my podcast interview with Reed where we talk about how MrBeast makes BIG money on YouTube.
I also think one of the things that none of us are really calling out with MrBeast is how BIG he’s thinking.
Whatever you’re working on, think about how much bigger can it actually be. And just start exploring that.
#2: Big Goals Need a Big Team
In order to reach his goal of being the #1 YouTuber on the platform, Jimmy realized he couldn’t do it alone.
As he started making more money, he kept hiring people. And today, his team has over 50 people.
A lot of people don’t do this.
They start out their business and they’re like, I’m gonna do everything myself!!
There’s a reason why a lot of companies have a lot of people. You need them if you want to grow your company!
I’m not saying to just go throw people in your business — especially if you’re just getting started out — but I would highly recommend hiring one person to start saving you time when your business has enough customers.
If you’re a YouTuber, maybe it’s helping someone write your scripts or do your thumbnails. If you’re a software creator, maybe it’s someone in customer support.
What I recommend doing is go use websites like Fiverr or Toptal or Upwork or ask your friends or network if anyone wants to help you out. Just start somewhere. It’s an amazing practice and skill that’s important to learn if you want to scale any of your business.
What can we learn from MrBeast’s YouTube channel growth?
One thing I really want to highlight as you’re observing MrBeast is look at how he’s running his channel — he’s running it like a business.
Like an elite professional media company.
He’s consistent, he leverages his audience when he has a product to sell, he reinvests earnings back into the business, and he’s built a team around him to help him achieve his #1 goal.
The lesson here for yourself is, how can you mirror some of the things elite people like MrBeast are doing so you can get to their level?
And I think the biggest takeaway here from MrBeast is how much fun he’s having with all of it.
I think the way he’s connecting with his audience is just so damn unique, and I hate the word authentic because he’s just being himself, but he’s having fun with it.
And I think for you with your own customers, how are you having fun and building connections with them? Are you putting candies in when you’re sending their orders or are you personally delivering their orders, are you making content about your business and your customers?
I think MrBeast offers a lot of inspiration for how all of us can do a better job of connecting with our own customers.
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