You can make your own video sharing website, and make some great money in return. There are some key steps you need to take to ensure your video sharing will make it, and you'll make money off it.

Here's how to create a highly profitable and successful money making video site:

1. The URL (Choosing a good website name)

A good website name can be the difference between a ton of traffic and zero traffic. A catchy name is great for getting the word out for your site. The shorter, more clever the name is the key. Unfortunately many of the short domain names are taken.

You can go to domain name auctions and try to find short names available, but you'll have to spend a good chunk of money on a good short name. So the other option is finding a more catchy and clever name, for which many are available. Go to a domain name purchasing website and type in your desired names to see what is available and what is not.

2. The Videos (What videos should you put on your site? Where to get them?)

The best kind of videos that bring in the most traffic, while being safe for the workplace (very important as many people surf the web at work) are the comedy type viral videos that get a zillion hits. These can guarantee repeat traffic as long as you keep your site updated through the week.

You can get these videos for free! Cutting and pasting the code onto your own video site, from other sites or content sites which have thousands of videos available, makes it very easy to keep your site updated and fresh, while getting the content for free.

3. The Profit (How to Make Money!)

The profit from a video sharing website will come from numerous outlets such as ad's which you place on your site, products which you will receive commissions for, and other advertising platforms or campaigns that work very well for high traffic video sites. This is how most of the funny video sharing websites make their living and rake in major profit.