9 Key Insights into the Creator Economy You Need to Know

Why are some creators flourishing, while others are floundering?

I combed through research reports from Kajabi, ConvertKit, and The Tilt so you don’t have to.

Here are 9 Key Insights into the Creator Economy I found…

Insight 1

On average, it takes creators:

• 5 months for creators to make their first $1
• 12 months to go full-time
• 18 months to make enough to fully support themselves

(Read to the end for resources on how to cut this timeline in half)

Insight 2

Up to 55% of creators made under $10,000 last year (ouch).

So learning how to hit your first $10,000 ASAP is critical.

Insight 3

Creators who rely on 3rd-party monetization like sponsorships or AdSense revenue are struggling.

But creators who directly monetize are thriving.

Coaching is the most profitable (and most popular at 49%) way to directly monetize.

Insight 4

Creators spend 54% of their time on tasks?other than creating.

So if you want to succeed in the Creator Economy, you need to develop an entrepreneurial mindset.

Don’t expect a hobby work ethic to lead to commercial success.

Insight 5

Successful creators have an entrepreneurial mindset.

This means clarifying:

• Who do you want to help?
• What do they need help with?
• How can you solve this for them?
• Where do they hang out so you can get your solution in front of them?

Everything else is downstream.

Insight 6

Most barriers to launching a creator business boil down to human psychology.

Lack of money, resources, or intelligence isn’t what holds most creators back.

Limiting beliefs are—especially what I call the Four Horsemen of Fear.

Learning to overcome these is critical.

Insight 7

59% of creators have been in business for fewer than 4 years.

So if you’re 1-3 years in, don’t compare yourself to creators 5-7 years in.

See them as inspiration—as proof this creator thing is viable.

Insight 8

Despite economic turmoil and layoffs in traditional sectors, almost 80% of creators expect to make more from their creator business this year than last.

Because as a creator, the better you get, the more impact and income you generate.

Insight 9

Creators overall love their work.

Few people can honestly say this, but we can.

Bonus Insight

Full-time creators earned approximately $86,000 in 2022 and expect to generate $108,199 in 2023.

So being a creator is a viable business, if you do it right.

Putting It All Together

This is why so many people are joining the Creator Economy.

Because creators have freedom, love their work, and have uncapped income and impact potential.

But limiting beliefs and the inability to make money cause too many people to leave the Creator Economy...

So finding strategies to:

• control how you monetize your audience
• generate a livable income fast
• overcome your own fears

Are critical to succeeding as a creator.

If you want specific, proven, actionable strategies to flourish in the Creator Economy, check out the full breakdown here.

I go deep into these insights, and many others, and give you concrete ways to succeed as a creator.

Enjoy.