Problems or Opportunities How YouTube Created a $1.6 Billion Opportunity
I’m sure you’ve heard the news that Google reached an agreement
to acquire YouTube.com for $1.6 Billion US dollars.
Not a bad piece of change for a couple of guys who started
their “little” business on credit cards in a garage.
Yep. It’s true.
In fact, YouTube had not even earned a profit yet! Those with a
limited vision spoke of YouTube as a failure up to this point.
Take note. There are so many numbers that matter in business,
and in life as well as your long term view and strategy. More on
that later.
What’s more interesting is how You Tube was started in the first
place.
Back in January 2005, Chad Hurley and Steve Chen, were just a
couple of guys who wanted to share some videos they made at a
dinner party in San Francisco. Except they had a problem.
There was no easy way to share the video with their friends. The
files were too large to send via email and back then there was no
easy way to put them online.
So they got to working in their garage on creating solutions to
the “problem” (aka opportunity). What emerged is a video sharing
site now known as YouTube, which became an internet phenomenon in
a matter of months. They provide technology so that anyone with a
video file can easily post it online for all the world to see.
From zero to $1.6 Billion in a mere year and a half.
Impressive.
Hurley and Chan are no strangers to adversity. They were among
the first 20 hires at PayPal in 1999 and witnessed the Dot Com
boom that later bombed. (Hurley designed the logo that PayPal
still uses to this day). They watched as tech companies came and
went.
“We started this to solve a personal problem,” says Hurley. “Now
we’re creating a new way to reach audiences in an era where the
traditional TV time slot doesn’t exist anymore.”
Back to the skeptics who called YouTube a failure. Remember I
said earlier there are a variety of numbers to take into
consideration in business.
YouTube went from nothing to 4.2 million monthly visitors to
their site within 3 months. YouTube currently captures 45
percent of the online video market. 100 million videos are
available on YouTube on any given day and 65,000 new videos are
added daily. YouTube now enjoys 20 million unique visitors per
month. YouTube is still growing by leaps and bounds.
That’s not a failure. That’s part of a strategic plan. One that
worked out nicely for two guys under 30 who started in their
garage a little over a year ago by turning a “problem” into an
“opportunity.”
“Whether or not something is a problem or an opportunity is
determined by your own attitude, approach and perspective. It
is entirely your choice.” -Jill Koenig
They saw companies rise and they saw companies fall. They had
advisors, they sought their own Millionaire Mentor. They
invested their time wisely. They saw an opportunity and held
tight to their dreams.
Hurley and Chen were rewarded 1.6 million ways for their
brilliant perspective and perseverance.
What are some challenges, setbacks or “problems” you have been
faced with that you can turn into opportunities?
It’s entirely your choice.
Live Your Dreams
Jill Koenig, the “Goal Guru’ is America’s Top Goal Strategist.
A Best Selling Author, Coach and Motivational Speaker, she is
an expert on the subjects of Goal Setting, Time Management and
Business Success. She is the host of the Goal Guru Radio
Show. Her passion in life is helping you Achieve your Goals and
Unleash your untapped potential. Learn Cutting Edge Goal
Strategies and get your FREE ebook at http://www.GoalGuru.com