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Now, with that out of the way, we can start talking about the different ways you can actually make money.

Take a look at your audience's demographic information by clicking here.

You'll want to pay especially close attention to: With this demographic information at hand, you'll have a better understanding of your own audience and also be able to work better with brands.

Making money from a You Tube channel probably isn’t the reason you’ll start one, but the opportunities to earn are a pleasant surprise once you realize how many of them there are.

Building your own audience puts you in a great position to monetize in a variety of ways.

You'll need to set yourself up as a You Tube Partner, which is easily done in the Creator Studio section of your You Tube account by going to the Channel menu to verify your account and enable Monetization (click here to go there directly).

After you become a Partner, you'll need to have an Ad Sense account to opt into Google's advertising network to actually get paid and see ad revenue reports like the one below. Once that's done, you'll notice a green "$" next to your videos in the Video Manager, indicating whether it's been enabled for monetization, which you can click on to access the monetization settings for each video.

Selling merchandise—t-shirts, coffee mugs, tote bags, snapbacks, you name it—has a benefit beyond revenue.