You, too, can strike it rich on YouTube!

Scott Mitchell became convinced YouTube would make him rich.

Mitchell, 33, got the idea last year from videos that promoted courses on how to build so-called cash cow channels, which are often created through a process called YouTube automation.

So he bought one course, then another and another. He also paid for mentorship services. Mitchell spent around $15,000 on his YouTube venture, encountering stumbling blocks at every stage — courses that taught him little, freelancers who stole content and audience-growth tactics that got him into trouble with YouTube.