Video Production Business
My daughter interned with a woman who ran a small video production company. She specialized in creating videos for small to medium-sized businesses, such as company overview videos, advertisements, and other marketing videos. She worked primarily for the company herself, but she supplemented her efforts with part-time employees.
With businesses of all sizes engaging in digital marketing, and digital marketing increasingly requiring videos rather than still photography, the demand for video production is skyrocketing. If you want to get into this business, try to specialize. For example, you might want to concentrate on real estate brokers’ videos of homes for sale or food providers’ videos.
You could, of course, focus on non-business video production, such as weddings or sporting events. Everyone desires excellent videos! You might also want to concentrate on live video streaming. See our BusinessTown course, Use Live Video Streaming to Promote Your Business, for more information.
If your video shooting and editing skills aren’t quite world-class, you might want to target smaller businesses that are more concerned with staying within their budget than with getting Hollywood quality. Nonetheless, I would make certain that you understand some of the fundamentals. Even highly experienced TV production crews, I’ve noticed, struggle to get good lighting – and what a difference good lighting can make! The right background music can also make a big difference.
Perform admirably on your first assignments in order to obtain positive references and have first-rate work to display on your website. What about before you get your first client? Display some of your personal videos, as long as they are appropriate. Create a high-quality short video to promote your own services and use it as your calling card.
To attract customers, you’ll need to ramp up your digital marketing, just like so many other businesses on this list. Because this is a competitive business, you’ll also want to include a specialisation and some unique twists in your business plan.
You can use simple video softwares like Invideo or Pictory in your starting days.
Podcasting Business
Yes, you can make a fortune with a podcasting business. Joe Rogan, for example, licenced his podcast, the Joe Rogan Experience, to Spotify in an exclusive multi-year deal worth more than $100 million. Unlike most podcasts, Joe discusses a wide range of topics such as neuroscience, sports, wealth, comedy, and culture.
Most people, on the other hand, find podcasting difficult. There is a great deal of competition. So building an audience can take time, effort, and a little luck. If you’re looking for a low-risk, steady-income business, look at the repeat customer, steady-income service businesses on this list.
For most people, the key to successfully monetizing a podcast is not simply having a large audience. It is specialising in and becoming known for a specific topic. And making a strong connection with your audience. You’ll want to let your unique and authentic voice shine through. You’ll also want to do your podcasts on a regular basis, at least once a week.
Podcasting software is available for free online. And for a few dollars, you can get a microphone to plug into your computer that will vastly improve the quality of your sound – don’t just use the built-in microphone. To be successful with your podcast, you must carefully plan it and then relentlessly promote it! Discover every possible way to promote your podcast online. And don’t just tell new users about it. Continue to strengthen your bonds with your current customers. Consider keeping in touch with them through social media, email, and a blog on your website, in addition to your podcast.
Clothing Line
Isn’t it cool to have your own clothing line? It’s now easier than ever. You can outsource production and sell online. Also You can sell on platforms like Amazon and eBay, or on your own website, or even to traditional retailers.
And You can start small and grow your clothing line at your own pace. Ralph Lauren began his fashion empire with a few neckties that he personally sold to New York City stores. Phil Knight started Nike part-time while still working his day job as an accountant. He began by selling track and field shoes that he had imported from a Japanese sneaker company.
Even if you have no prior experience in the industry, you can start your own clothing business. For example, my friend Rudy Glocker left a career in finance to launch his own clothing line, Burgeon Outdoor. Rudy specialises in outdoor clothing designed for the mountain region where his company is based.
I recommend that you start your clothing business with just a few fantastic items. Find a manufacturing source that consistently produces a high-quality product. As with any business, put in some extra effort upfront, carefully designing your company and its first products.
Create a comprehensive marketing strategy. Even if you decide to use an existing platform like Amazon or eBay, I recommend that you also create your own online presence, which includes a website, an email list, and social media – especially for clothing. This will not only help to attract new customers, but it will also help to build repeat business and positive word of mouth.
If you want to attract traditional retailers, consider renting a booth or a table at trade shows. You’ll probably want to avoid larger shows like Magic at first and focus on smaller, less expensive shows.
Dropshipping Business
So, what exactly is dropshipping? Dropshipping is when you sell a product, usually online, but you don’t stock it or fulfil the order. Instead, you send the order to the manufacturer, a wholesaler, or another retailer, who will then deliver the product to the customer.
Can you make a fortune from your own dropshipping company? Yes, it is entirely possible. CNBC, for example, interviewed Nick Peroni, who has achieved tremendous success. Peroni, who previously served in the United States Army, started his dropshipping business on the side.
After a few years, he went full-time, testing a variety of products before scoring some big successes. In less than a month, he sold $150,000 in fleece lined leggings. In six months, he sold over $1.9 million in garden trimming attachments.
So the big question isn’t whether you can make a fortune in dropshipping, but whether you will. As with any business, learning how to start a business and carefully evaluating the market, potential customers, competitors, potential products, and potential sources will greatly increase your chances of success. Then you must create a well-thought-out strategy and business plan.
Will your dropshipping business be an instant success if you start it carefully and meticulously? Most likely not. Any product business, including dropshipping, is more risky and requires more effort to succeed than a simple, repeat customer service business. However, the potential upside is enormous.
To make a go of it, you will almost certainly have to test and tinker with different products, different sources, different pricing, different ad copy, and different ad venues. And you’ll have to be patient, spending very little money until you’re certain you’ve found the winning formula.
So, before you begin, do your homework. Learn everything you need to know to make this business a success, and then carefully plan it. Begin with a small number of carefully selected products. Then, try out various promotional venues. Among the many options are Facebook, Instagram, and TikTok. In addition, experiment with different ad copy and pricing.
If your dropshipping business grows, you may want to switch to stocking and fulfilling orders yourself. It’s not that difficult. We always stocked and filled our own orders for my book business, even when I was starting out of my basement apartment. You could also hire a third party to do it for you, such as Amazon’s FBA service, which also handles inventory and fulfilment for items not sold on Amazon.
The next step you might want to consider is designing your own goods and arranging for them to be manufactured by a manufacturing company. Finally, this will allow for the highest profit margins and the most sustainable and solid long-term business model.
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