It's actually quite simple. You set up an account and then upload your video material. Some people put a lot into the production of web series, others just use a home recorder. A Flip camera makes it REALLY easy. You shoot, plug in to your computer, and the software is in there to upload it straight to YouTube or you can edit it first.
Then, you want to kick in "viral marketing techniques." Look up articles on Google for more information on that. Also, use social networking sites. Post your YouTube links on your Facebook page, etc.
If you are creating a character or a webseries, consistency is really important to prove that you're not a "one-hit-wonder" and that there is room to grow as well as building a following.
For more tips and articles by top entertainment industry coach, The Greenlight Coach, visit www.theGreenlightCoachBlog.com