BUSINESS IDEA | STARTUP

Dynamic Brand Deals 🤳 

The reel deal

Available Domain: Elevearn.com

1. Problem/Opportunity❓

The Problem/Opportunity: Musicians and YouTubers have a lot in common. Money. Fame. Legions of fans. Although the YouTubers need to catch up on the DUI front.

Similarly musicians and YouTubers both have back catalogues of content worth millions or even hundreds of millions. And for YouTubers, who do brand deals where they get paid a fixed amount for an ad in a video, they’re missing out on millions since these videos still get views months and years later. It’s time to solve this.

Market Size: The global influencer marketing market value stood at $21.1bn as of 2023, having more than tripled since 2019

2. Solution ✅

The Idea: A platform which allows creators to dynamically earn from their brand deals

How it Works:

• YouTubers sign up to the platform and can select from a variety of brand deals available from different businesses looking to advertise on the platform on a cost per impression basis

• Once the YouTuber selects the brand deal they do the ad read in their video and link the video to the platform

• The platform then pulls the view count from YouTube’s API, monitors the views and charges the brand each month per view the video has received, ensuring the YouTuber continuously gets paid for the deal

Go-to-market: Work with YouTubers in the first instance and then expand out into other creators on other platforms too

Business Model: Transaction fee on deals done through the platform

Startup Costs: You could get this started for next-to-nothing since it’s such a simple build. Cost won’t be a barrier to entry here.

3. How You’ll Get Rich 💰

Exit Strategy: You could exit to a creator marketplace like #paid if they’re looking to vertically integrate

Exit Multiple: You’d be looking to sell in the 4x - 8x revenue range here, lower than a SaaS multiple since revenue isn’t recurring

TOGETHER WITH OMNISEND

Spend $1 ➡️ Earn $72

E-commerce is a game of money-in vs money-out. You spend $1 and make $2.

The higher that ratio is, the more successful you’ll be.

So check this out…

In 2023, for every $1 spent on Omnisend’s email & SMS marketing, merchants made $72!

We (Half Baked) want to work with brands that deliver for our readers (you). That’s why we asked Omnisend to work with us. They agreed.

Omnisend offers affordable, scalable pricing that grows with your business.

From popups to newsletters & abandoned carts, 100,000 e-commerce brands are selling more stuff while paying less.

DRUNK BUSINESS IDEA

Podcast Certifications

These days many of us do most of our learning through podcasts. But who’s to say we’re actually really listening to all these podcasts?

Well with our new podcast listening certifications you have the evidence to prove that you’re a podcast aficianado.

Get these certificates on your CV and LinkedIn profile and watch the job offers roll in

JUST THE TIP

Trend 📈: Myopia

Myopia (nerd speak for nearsightedness, where far-away objects look blurry) is on the rise. In fact scientists predict by 2050 that half the world’s population will be short-sighted. Why? Well it seems to be because children are spending less time outdoors and more time on screens.

Business Ideas:

• Virtual Reality (VR) Eye Exercises: Develop VR applications that offer interactive eye exercises designed to manage myopia

• Tele-optometry Services: Provide online consultations and telehealth services for patients needing advice on myopia management

THE MONEYSHOT

The Shark Tank Reject that Sold for $1bn

The Shark Tank Sharks once missed out on investing in a founder who went on to sell his business for $1bn?

This is his story.

Back in the early 2010s Jamie Siminoff, a serial entrepreneur, was looking for his next big idea after exiting both Phonetag and Unsubscribe.com.

So, as so many great founder stories begin, Jamie went to his garage and started tinkering. And one day, while tinkering, Jamie realized that he kept missing deliveries because he couldn't hear the doorbell. He searched online for a doorbell that could connect to his smartphone, but couldn’t find one. So he decided to build one.

In 2011 Jamie founded Doorbot, a Wi-Fi enabled smart doorbell. He crowdfunded $364k to get the business going, but it had a slow start, with Jamie burning through the funding he had raised. Until an appearance on Shark Tank changed everything.

In 2013 Jamie appeared on Shark Tank, using the company's last $20,000 to build an elaborate set to pitch the product.

Despite an offer from one of the Sharks, Jamie walked away empty handed. But the publicity from the appearance was game-changing for the business, driving $5m in sales.

The business went from strength to strength and in 2014 Doorbot was rebranded to Ring. They expanded into retail, launching in big box retailers like Walmart and Target and the business continued to grow.

By 2018, the business was thriving, doing hundreds of millions in revenue per year. Which is when a certain tech giant came knocking (pun very much intended).

In 2018 Ring was acquired by Amazon in a deal reportedly worth $1bn.

Today, instead of counting his winning and sipping mimosas on a beach, Jamie is the Chief Doorman (that’s actually his title) at Door.com, a next-generation real estate transaction platform.

Jamie’s story is truly incredible and if there’s one takeaway from it I think it’s this:

In life, if opportunity comes knocking…open the door.

INFLUENCER IDEAS

#HalfBakedBizIdea

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