A few years ago, everyone’s favorite internet meme Tai Lopez was selling a course in which he taught you how to build your own social media management business. Not something like Tree Frog, but a business in which you manage all aspects of a local business’ online strategy. Instagram, Facebook, Advertising, Website, the whole nine yards.
I never did buy Tai’s course, but I’ve had experience starting and advising a few social media management businesses. It’s fun, frustrating, and at times very rewarding. There are few barriers to entry, so your ability to break into a market often comes down to your ability to sell and provide a superior product. Aside from graphic design and writing, most services are quite generic, and can be performed with little experience and little upfront investment.
The barriers to entry are low, but, depending on the size of your market, you can only afford to make so many mistakes. You’ll learn as you go, but you must begin with a certain base skillset and business plan.
Writing is probably the most important skill to have. If you stumbled through high school English classes, I’d advise you to pump the breaks until you can improve your skills or find an excellent writer. As someone with a lot of writing experience, it’s obvious to me when someone trying to sell me writing or PR services is an awful writer.
Regardless of your service offerings, the majority of your communication will be performed via email and other written mediums, so it’s important to have solid range here.
This isn’t a skill that can be developed in weeks or even months. Not only is it expensive to offer legitimate videography services, but it requires a very direct, non-recurring time expenditure that can provide a worse return on investment compared to general management services.
Photography is easier and a bit less expensive to get into compared to videography, but it’s still something you should only offer if you have the skills or can find a reliable contractor. Do you want to be entrusted with capturing someone’s special day when you have no idea what you’re doing? Me neither.
Social Media Knowledge
You know, in all our job postings we mention that we like social media knowledge. You’d be surprised how little most users know about the business functions on Facebook and Instagram. This is a crucial skill and arguably the most valuable skill when it comes to forming lasting relationships and earning regular payments from customers.
Online advertising is a thriving industry. I recommend taking Google’s courses or reading a book about the topic. It’s hard to learn about without actually wading in yourself, so be prepared to spend a few hundred dollars testing ads on different platforms.
Knowledge of advertising is necessary when offering media services for content that will end up in ads!
Search Engine Optimization is crucial when it comes to designing websites and other media for businesses that depend on getting found on the internet. There are many free resources online for learning more about SEO. Unlike advertising, SEO can be free if done properly, but it may take weeks or months of testing to see the fruits of your labor.
Have you started a social media business? Let us know about your experience below. Looking forward to releasing Part 2 soon!