If you really want to start a business, there are several paths you can take. Start a small business organically and try to grow it over time. Find a problem big enough to solve and maybe an investor will give you funds to try to find a solution. Or, if you’re more interested in a lifestyle-based entrepreneurial path, you might want to take a look at YouTube.
YouTube video content continues to grow in popularity as a source of entertainment and an enabling channel for starting a business. It doesn’t matter if you think of YouTube as a platform or a marketplace. The reality is that it has become one of the most powerful platforms/marketplaces in the world. According to the February 2022 Hootsuite article, some of YouTube’s most powerful metrics are:
– In total, the website receives 14.3 billion visits per month: more than Facebook, Wikipedia, Amazon and Instagram.
– With more than 14 billion hits per month, YouTube is one of the biggest players on the Internet, after its parent company Google. “YouTube” is also the third most searched term on Google.
– 694,000 hours of video streaming every minute on YouTube; More than Netflix.
– 81% of internet users have used YouTube.
For inspiration, check out today’s highest paid YouTubers. You will see these are normal people, even some men who have managed to build a following that makes millions of dollars today. Excerpted from the Intuit Mint article August 24, 2022, Some of the Top Entrepreneurs on YouTube Today.
Mister Beast: With an estimated revenue of $54 million per year and 96.5 million subscribers, Jimmy Donaldson, also known as Mister Beast, tops the list of highest paid YouTubers.
Markiplier : With an estimated annual revenue of $38 million, Mark Fishback, also known as Markiplier, has been in the YouTube monetization game for nearly a decade. He only has a third of mr. Beast Followers (32.9 million).
Nastya: With an estimated annual revenue of $28 million, Like Nastya topped the list of the most viewed YouTube channels of all time. Nastenka loyal, 96 million subscribers listen regularly.
Ryan’s World: With an estimated annual revenue of $27 million, Ryan’s World is the dominant YouTube channel in terms of views, subscribers and revenue. With 32.6 million subscribers, 10-year-old Ryan Kaji is one of YouTube’s youngest entrepreneurs.
The Dude Perfect: With an estimated revenue of $20 million per year, The Dude Perfect has 57.6 million subscribers, making it the most watched sports channel on YouTube.
There is no denying that the world is moving towards video and YouTube can offer the perfect opportunity for the right entrepreneur to start a business with little or no money. You have to work hard to be successful, but others before you. Explore and study them and maybe try one of the possibilities below. Here are some of the best business opportunities you can use to start a YouTube business:
Video Content Creator: You will be responsible for creating engaging and fun videos that will grab the attention of your audience. It can be vlogs, instructional videos, cartoon sketches or other videos such as animations or short films.
Social Media Influencer: This is where you will use your social media accounts on social media platforms like YouTube to promote products or brands you like. Referral channels can be very profitable, but you need to stay active.
Gamers: This is a popular idea because there are a lot of YouTubers and gamers who want to watch other people play. Make sure you have a good channel banner as a player.
Travel app: You can record trips and upload videos to YouTube. This will be a great way to share your experiences with others and encourage them to travel.
Ecommerce Marketer: You can create channels to promote your ecommerce business. This is a great way to attract new customers, differentiate your business, and increase sales.
Information product marketing. You can share experiences on YouTube, create and sell information products such as e-books, online courses, and webinars. This is a great way to reach potential customers and build your brand via email.
Affiliate Marketer: You can promote products and services as an affiliate and earn commissions from sales. This is a great way to monetize your YouTube channel.
How to Make Video Tutorials: You can create live video tutorials that teach people how to make or assemble something, promote the products or services you make videos, and generate income.