"We're in a TikTok gold rush" - 5 Business Ideas To Start Before 2025

Intro (0s)

• A large number of business ideas will be presented, and the goal is to provide the audience with valuable information, with the analogy of a "lunchroom food fight" used to describe the experience (0s).
• The ideas discussed are considered "half-baked" and were thought of recently, with 75% of them conceived that morning due to a guest canceling and the decision to record anyway (32s).
• The first business idea is related to TikTok, which is considered to have a lot of potential for making money, with the app being compared to Facebook from 2012 to 2014 (2m21s).
• An example of a successful business that utilized Facebook ads is Native Deodorant, founded by Mo Ali, which scaled from zero to $30-40 million in revenue in 18 months and was eventually sold for $100 million in cash (3m24s).
• Mo Ali's success was attributed to choosing an interesting category, utilizing cheap Facebook ads, and building a consumer base at the right time, with a reported 4:1 or 5:1 payout on every dollar spent (4m2s).
• The current situation on TikTok is compared to the "good old days" of Facebook, where it was possible to achieve a high payout on every dollar spent, and it is suggested that similar opportunities exist on TikTok today (4m28s).

Idea 1: Creator Rewards Program (4m34s)

• Goalie, a brand that sells apple cider vinegar gummies, has a rewards program for TikTok creators, offering incentives such as iPads, iPhones, all-inclusive trips to Aruba, and Rolex watches for meeting certain sales targets (5m40s).
• The program also offers high-tier rewards, including a condo in Miami for creators who reach a million dollars in sales, and a Lamborghini for those who achieve specific targets (6m15s).
• This program is an example of how creators can make money on TikTok without having to create their own brand or service, by simply promoting products and meeting sales targets (6m31s).
• The creator space is highly competitive, with brands offering top creators retainers of $10,000 to $30,000 per month to create content for them, and popular videos often receiving millions of views and likes (7m10s).
• The success of creators on TikTok is not limited to their expertise or credentials, as seen in the example of a person dressed in scrubs talking about a product and gaining a large following (7m29s).
• HubSpot has compiled a list of resources to help find market opportunities and validate business ideas, including a market size calculator, tools to identify market trends, and a list of ideas to get started, which is available for free through a link. (7m46s)
• Gurunanda teeth whitening is a top-selling product on TikTok, and its success can be attributed to the platform's massive user base, with TikTok being one of the most used apps in the country. (8m22s)
• The effectiveness of Gurunanda teeth whitening is unknown, but the product's sales are significant, with estimated monthly revenue potentially reaching $5 million. (9m5s)
• The strategy used by successful brands on TikTok creates a halo effect, where direct sales from a video are supplemented by improved ad performance, increased Amazon searches, and higher Google rankings due to increased brand awareness. (9m39s)
• Marketers tend to flock to successful strategies, potentially ruining them, but the current TikTok strategy still has life and can be effective for brands that implement it today, although it's not as good as it was initially. (10m28s)
• Many e-commerce businesses struggle with cash flow and inventory management, despite generating large revenues, such as $5 million per month or $60 million per year, and it's possible to lose money in any business if not managed properly (11m12s).
• The key to success lies in how well the business is run and the amount of common sense used, as some businesses are able to generate profits while others struggle (11m41s).
• One advantage of using TikTok for e-commerce is that it allows businesses to put up free product at risk instead of capital, as they only pay for ads when a sale is generated (12m0s).
• This model is particularly well-suited for digital products, which can be easily promoted and sold through TikTok (12m3s).
• There are five business ideas that can be taken to TikTok and potentially be successful, including digital products (12m11s).

Idea 2: Botox Face Tape (12m19s)

• A popular TikTok video featuring a woman who switched from using Botox to face taping has gained 5.4 million views and sparked interest in the product, with many viewers asking for the brand name in the comments (13m5s).
• The video's success has led to the idea of creating a Botox face tape product, which could potentially generate $50 million in top-line revenue with 15% margins, resulting in a $7.5 million profit in 18-24 months (13m36s).
• The target market for this product would be individuals who care about their appearance and are Botox-curious but have not tried it due to cost or other barriers, such as the perceived extremity of the treatment or fear of judgment (13m59s).
• The effectiveness of face taping as a beauty treatment is uncertain, but its popularity and the success of similar products suggest that it could be a viable business idea (14m52s).
• The beauty and wellness industry is a large and growing market, with many products and treatments available, and face taping could potentially find a niche within this market (14m46s).
• A conversation about Botox and its effects is discussed, where Sam shares reasons for getting Botox, including wanting to look better and receiving many compliments afterwards, which made them self-conscious about their previous appearance (15m40s).
• The conversation also touches on the idea that people are often curious about trying Botox, and that having easy access to it can make them more likely to try it, with a humorous example of being offered Botox at home (16m25s).
• The topic of being "Botox curious" is also explored, with the idea that some people, like the speaker's wife, are interested in trying Botox but are hesitant, and that having it easily accessible can make them more likely to try it (16m21s).

Idea 3: Madison Reed dupe for TikTok (16m57s)

• The beauty space is a lucrative market that taps into core human desires, is visually driven, and has high margins, making it an attractive business opportunity (16m57s).
• Madison Reed is a successful brand that has built an empire around hair color, with a valuation of over $500 million and $150 million in revenue, by utilizing an online-first distribution strategy and Facebook ads (18m18s).
• A new business idea is to create a Madison Reed dupe for TikTok, with a new novel angle, such as easier application, less mess, or less harsh chemicals, and build a brand around it using TikTok native distribution strategies (18m27s).
• This new brand can partner with creators to showcase the product, build trust, and get people searching for the brand, as there will always be a new wave of people interested in hair color (18m56s).
• The same marketing hooks that worked in the past, such as the curiosity gap, can be replicated on TikTok to sell to a new generation of customers (20m45s).
• Old ads, such as those from the 30s and 40s, can be used as inspiration to find interesting lines and human nature elements that can be replicated on TikTok (20m2s).
• The key is to find what worked in the past and adapt it to the new media platforms, such as TikTok and Instagram Reels, to sell to a new generation of customers (19m25s).

Idea 4: Self-help Journal (20m50s)

• A top-selling product in the self-help category is "The Shadow Work Journal", which has over 5,000 ratings on Amazon and has sold over 100,000 copies on TikTok, making it a huge success (20m56s).
• The journal's popularity on TikTok can be attributed to users sharing quotes and their personal experiences with the book, often using a "gypsy girl" type of vibe and capitalizing on the interest in therapy, horoscopes, and mysticism (22m0s).
• The success of "The Shadow Work Journal" suggests that a modern-day version of self-help books like Tony Robbins' "Unshakeable" or Mark Manson's "The Subtle Art of Not Giving a F**" could be a bestseller if heavily promoted on TikTok (22m24s).
• The journal is not a daily planner, but rather a book with a lot of text content and fill-in-the-blank exercises, similar to "Designing Your Life", a book by a Harvard psychologist that has a companion journal (23m3s).
• The author of "The Shadow Work Journal" is aspirational and has a strong online presence, which may have contributed to the book's success, although it's not clear if this angle would work for everyone (23m45s).
• The marketing strategy for "The Shadow Work Journal" on TikTok was successful because it didn't look like a commercial, but rather users sharing their personal experiences and how the book impacted them (24m1s).
• A popular TikTok trend involves creators using an intense, zoomed-in hook to grab viewers' attention, often with a dramatic or humorous tone, and this style is becoming a common meme on the platform (24m11s).
• The demographic for TikTok is predominantly young adults, with a 25-year-old woman being a prime example of the platform's target audience, and creators often use attractive individuals in their videos to appeal to this demographic (24m47s).
• The key to success on TikTok is not about competing with established brands or creators, but rather about leveraging one's unique attributes, such as having a lot of time, being shameless with one's phone, or having a deep understanding of the platform's meta game (25m52s).
• Individuals with these attributes can outmaneuver larger brands, which often rely on traditional marketing strategies, such as buying Super Bowl ads, rather than engaging with the platform in a more grassroots way (26m53s).
• Having a strong network, access to capital, or a unique audience can also be valuable attributes for achieving success on TikTok or in e-commerce more broadly (26m2s).
• The current landscape of TikTok and e-commerce is akin to a "gold rush," where individuals with the right attributes and mindset can capitalize on emerging trends and opportunities [not explicitly stated in the provided text, but implied by the title].
• To succeed on existing social media networks, one must be willing to hustle and put in the effort to win, such as sending out free products and engaging with users, which can lead to success in established categories (27m6s).
• A methodical approach to tracking numbers and making small changes can lead to significant improvements, as seen in the example of Moyes, who tracks numbers daily and makes adjustments to optimize results (27m26s).
• Consistency and attention to detail are key, as Moyes still tracks numbers daily even after achieving significant success, and this daily practice is essential to his success (28m40s).
• Even small differences in approach can make a significant impact, much like a chef at a bakery who has perfected their craft through years of experience and can notice minor differences in their work (29m11s).
• Building an audience through blogging or other means can be an effective way to launch a product or book, as seen in the example of Mark Manson, who built a blog audience before launching his bestselling book "The Subtle Art of Not Giving a F*ck" (29m41s).
• A story is shared about building an app for high school students around 5-10 years ago, where the team realized they needed to test the app with their target audience, and they initially offered free burritos in exchange for testing the app outside a Chipotle, but only one out of 10 people were willing to take a risk (30m6s).
• The team then decided to go to a school and teach a class on business, where they could also promote their app, and they were able to get a better response from the students, but one student made a comment that "links are gay," which was humiliating and indicated that the team's approach was not effective (30m55s).
• The story is used to illustrate that what may be considered old or uncool today may come back in the future, and that blogs, for example, may be seen as uncool now, but could make a comeback (31m57s).
• Two business ideas are mentioned, including candy candles and a link, but no further information is provided about these ideas (32m4s).

Idea 5: Candy Candles (32m10s)

• A unique product idea is candy candles, which are candles made to look like desserts, such as a mason jar with wax that resembles a mixture of Oreos and whipped cream (32m10s).
• The idea is inspired by a video of a woman making a candle that looks like a dessert, which gained 600,000 likes, showing the potential for this type of product (32m48s).
• The concept is based on taking successful products from the Facebook ads era or multi-level marketing (MLM) companies and adapting them for the TikTok platform (33m9s).
• TikTok's distribution engine allows products to be promoted by creators to their networks, similar to how MLMs work, but without the pyramid scheme aspect (33m22s).
• The key to success lies in creating visually appealing content that triggers a sensory response, making people want to engage with the product (33m47s).
• Candles are a product category that people tend to either love or not use at all, making it a potential niche for candy candles (34m7s).
• Researching successful MLMs can provide insights into product categories that have a strong desire and can be adapted for success on TikTok (34m15s).
• Candles are a huge product category in successful MLMs, making candy candles a potential category for someone to enter and be successful in (34m35s).

Idea 6: 23andMe reboot (34m42s)

• 23andMe is a company that experienced significant growth but eventually self-imploded, with the board resigning, the company losing money, and the stock value plummeting, despite still generating $300 million in revenue per year (34m42s).
• The company also suffered a major hack, resulting in the loss of six million people's DNA data, which is considered one of the worst hacks after a bank account breach (35m3s).
• Ancestry has a DNA product that could be sold through a network, offering a new way of acquiring customers, and there are opportunities for similar products that combine digital and physical elements, such as subscription-based services (35m28s).
• Some companies offer DNA-based products that claim to identify food sensitivities, which may be debated in terms of legitimacy, but still attract a large customer base, including a two-year annual subscription model (35m40s).
• The growth potential in this space is significant, with opportunities to get rich quickly, as seen in the example of selling a company for $100 million in two and a half years, and the growth rate is quicker than in many other areas (36m14s).
• However, the competition is fierce, with many smart and scrappy entrepreneurs competing in this space, but there are still categories where traditional incumbents are not present, offering opportunities to make money (36m57s).
• The story of Elite Daily, a blog that scaled quickly and became popular within a year, is an example of the potential for rapid growth, and the founder's success is attributed to his ability to create content that resonated with his target audience (37m10s).
• Elite Daily was a company that achieved 100 million monthly unique visitors in about 18 months, with a team of young employees working on cheap Ikea tables, writing headlines and articles, and using software to guess what would go viral, eventually selling for $60 million (37m56s).
• The company's success was an example of people finding a hack and dedicating their lives to it, building a huge business around it, which is similar to the current TikTok phenomenon (39m16s).
• The founders and employees of Elite Daily got rich overnight, but this type of success is not for everyone and is not easy, requiring a specific mindset and willingness to take risks (39m51s).
• The space is frenetic and stressful, with constant changes, making it challenging to navigate, and the terminal value of such businesses is often not sustainable or sticky (40m25s).
• The upside of this type of business is a fast spike in growth, but it's essential to consider the durability and sustainability of the business model (41m0s).
• Growing a business quickly through platforms like TikTok can be beneficial, but it's essential to consider the potential downsides, such as the risk of falling off a cliff in 18 months if the strategy doesn't work (41m7s).
• Physical products and e-commerce come with their own set of challenges, including supply chains, fulfillment, inventory risk, and low margins, making digital products and software potentially more attractive options (41m17s).
• Having the right mindset is crucial when growing a business quickly, as seen in the example of Jeff Bezos and Amazon, who used Google's advertising to grow rapidly while prioritizing customer service and product quality (41m39s).
• Combining rapid growth with a focus on customer satisfaction and product quality can lead to creating something amazing (42m3s).
• When growing a business quickly, it's essential to consider the repeat purchase potential of a product, as building a true brand and long-term customer base is critical (42m19s).
• Products with low repeat purchase potential, such as mattresses, can make it challenging to sustain a business, whereas consumable products like hair color, candles, or botox treatments offer more opportunities for repeat business (43m7s).
• Building a business around products with repeat purchase potential can help create a loyal customer base and drive long-term growth (43m30s).