I Make $5M/Year With 3 Businesses
Summary
TLDRIn this inspiring interview, Tim Stoddard shares his journey from a blue-collar background to running three successful businesses that generate over $5 million annually. Starting with a blog during his sobriety journey, Tim discovered SEO and transformed his writing skills into a thriving SEO lead generation agency, Stazzi Internet Marketing. He then expanded into other ventures, emphasizing the importance of building a diverse portfolio of assets. Tim offers practical advice on scaling businesses, sales strategies, and the tools that facilitate his multipreneurial endeavors, while candidly discussing the challenges of constant worry and the mindset needed to overcome entrepreneurial hurdles.
Takeaways
- 🚀 Tim Stoddard runs a multi-million dollar business portfolio, starting from humble beginnings and building his success through various ventures.
- 💼 Tim's main business, Stazzi Internet Marketing, serves as the financial backbone for his other ventures, generating significant revenue.
- 🔑 Tim's strategy involves building a portfolio of assets that work for him, allowing him to move away from the traditional 9-to-5 job model.
- 🌐 Tim's early success with blogging and SEO led to the creation of a lead generation business, which attracted clients from the healthcare industry.
- 📈 Tim emphasizes the importance of focusing on one keyword or article at a time for SEO, which can lead to substantial growth over time.
- 🤝 Tim's approach to sales involves asking questions to uncover clients' pain points and offering tailored solutions, which helps in closing deals.
- 💬 He advises to address the price early in the sales conversation to avoid the common 'let me think about it' response that often leads to no sale.
- 🛠 Tim has invested in and built various businesses, including Recovery Local, Copy Blogger, and several others in the SEO and lead generation space.
- 🛑 The challenges of running multiple businesses include the mental load of managing multiple tasks and the complexity of overseeing various operations.
- 🛠️ Tim's tools of choice for managing his businesses include Slack, Loom, Todoist, HubSpot, ClickUp, and Google Drive, which aid in communication and organization.
- 📚 Tim recommends reading 'The E-Myth Revisited' to learn how to effectively manage a team and scale a business by documenting processes and stepping back when necessary.
- 🌟 Tim's daily routine involves early mornings, family time, exercise, work focused on logistics and deal-making, and maintaining a consistent, disciplined lifestyle.
Q & A
What was Tim Stoddard's initial business model?
-Tim started as a solopreneur, running a single business focused on SEO lead generation through his agency, Stazzi Internet Marketing.
How did Tim transition from a solo business to a multipreneur?
-Tim discovered an opportunity to diversify his income and reduce his working hours by building a portfolio of assets that would work for him, leading him to become a multipreneur.
What is the main goal of Tim's business strategy?
-The main goal is to build a self-sustaining portfolio of assets that generate income with minimal effort on Tim's part, allowing the businesses themselves to do the hard work.
What was Tim's first step into entrepreneurship?
-Tim's first step was starting a blog on Blogger, writing about his personal experiences and journey, which eventually led to the creation of Subnation.
How did Tim's blog lead to his first business opportunity?
-Treatment centers and behavioral healthcare centers reached out to Tim, interested in how he built a community and audience, which led to him turning the blog into a lead generation media outlet.
What is the significance of the keyword 'drug rehab marketing' in Tim's business growth?
-Ranking for the keyword 'drug rehab marketing' was crucial as it helped Tim generate leads and establish his business in the SEO and lead generation niche.
What advice does Tim give for someone looking to start an agency?
-Tim advises that starting an agency is ideal because it requires no significant upfront capital and can become profitable with just one client. However, it can be challenging to scale due to the increasing workload with each new client.
What are some of the tools Tim uses to manage his multiple businesses?
-Tim uses Slack for communication, Loom for video messaging, Todoist for task management, HubSpot for CRM, ClickUp for more robust task management, and Google Drive for document storage and management.
How does Tim approach the process of investing in new businesses?
-Tim invests in businesses based on three criteria: liking the founder, the business being cash-flowing, and the business being evergreen, meaning it has long-term sustainability.
What book did Tim recommend for managing a team and growing a business?
-Tim recommends 'The E-Myth Revisited' for its insights on systematizing a business and getting out of the way to let the business grow.
What is Tim's daily routine like, and how does it contribute to his success?
-Tim's daily routine is consistent, starting early with task assignments, spending time with his kids, going to the gym, working on logistics and deal-making, and maintaining a work-life balance by spending time with his family.
What is the biggest challenge Tim faces as an entrepreneur?
-The biggest challenge Tim faces is the constant worry about what might go wrong and the need to anticipate and mitigate potential problems before they arise.
What advice would Tim give to his younger self starting out with his blog?
-Tim advises to live life one day at a time, focusing on getting through the day and making it to midnight, which helps in dealing with fear and uncertainty.
Outlines
🚀 From Zero to Multipreneur: Tim's Business Journey
This paragraph introduces Tim Stoddard, a successful entrepreneur who has built a $5 million portfolio of businesses. Starting from humble beginnings, Tim shares his story of how he transitioned from a solopreneur to a multipreneur, managing multiple businesses simultaneously. Key points include his initial struggles, the pivotal moment that led him to diversify his business ventures, and the overarching strategy of building a self-sustaining portfolio of assets. Tim's journey is highlighted by his first business's growth, the realization of the potential for passive income, and the subsequent expansion into various industries, including SEO, lead generation, and content creation.
🔍 Scaling Businesses and SEO Mastery
In this segment, Tim delves into the specifics of scaling his businesses and the critical role of SEO in his success. He discusses the organic growth of his audience and the strategic approach to lead generation that transformed his blog into a media outlet. Tim emphasizes the importance of targeting specific keywords and creating content that addresses the needs of the audience. He shares insights on the challenges of scaling an agency, the benefits of starting with a single client, and his philosophy on building a business one step at a time. Additionally, Tim provides advice on sales, negotiation, and closing deals effectively.
🛠️ Tools and Strategies for Managing Multiple Ventures
This paragraph explores the tools and strategies Tim uses to manage his diverse business interests. He highlights the importance of communication and task management tools like Slack, Loom, Todoist, HubSpot, ClickUp, and Google Drive in maintaining the efficiency and organization of his operations. Tim also discusses the transition from being a solopreneur to building and managing a team, emphasizing the value of process documentation and delegation to avoid becoming a bottleneck in the company's growth.
💡 Investing in Businesses: Criteria and Daily Routine
Tim shares his approach to finding and investing in business opportunities, focusing on the founder's character, the business's cash flow, and its evergreen nature. He outlines his daily routine, which includes early mornings, family time, exercise, and a clear division between logistics and task assignment in the morning, and deal-making in the afternoon. This paragraph also touches on the mental challenges of entrepreneurship, such as constant worry and the need for vigilance in identifying potential issues before they arise.
🌟 Reflecting on the Entrepreneurial Journey and Offering Help
The final paragraph wraps up the interview with a reflection on Tim's entrepreneurial journey, the struggles he faced, and the advice he would give to his younger self. He emphasizes the importance of taking life one day at a time and not worrying too far into the future. The speaker also promotes a free workshop aimed at helping others validate and build their businesses, providing a resource for those looking to embark on a similar path.
Mindmap
Keywords
💡Entrepreneurship
💡SEO (Search Engine Optimization)
💡Lead Generation
💡Portfolio of Assets
💡Solopreneur
💡Multipreneur
💡Content Creation
💡Investing in Businesses
💡Task Management
💡Deal Making
💡Evergreen
Highlights
Entrepreneur Tim Stoddard earns over $5 million a year by running three different businesses.
Tim started with nothing and grew his first business to 22 million using effective marketing strategies.
He transitioned from a solopreneur to a multipreneur, aiming to build a portfolio of assets working for him.
Tim's businesses include an SEO agency, Stazzi Internet Marketing, and Recovery Local, a parent company for several health-related websites.
He also owns Copy Blogger, a platform teaching online writing and SEO skills.
Tim's strategy involves reinvesting earnings into cash-flowing assets to build a self-sustaining business portfolio.
He discovered SEO and online writing as a way to grow his initial blog, which later became Subnation.
Tim's first client came from Behavioral Healthcare centers seeking to replicate his community-building success.
He emphasizes the importance of targeting specific keywords and being methodical in SEO strategies.
Agencies are scalable businesses that can become profitable with just one client, according to Tim.
Tim shares sales tips, including asking questions to reveal pain points and addressing price concerns upfront.
He has invested in various businesses, focusing on lead generation and SEO tools, such as Moving Local and Stem Cell Authority.
Running multiple companies allows Tim to explore new ideas and keep his entrepreneurial spirit engaged.
Tim's favorite tools for managing multiple businesses include Slack, Loom, Todoist, HubSpot, ClickUp, and Google Drive.
Transitioning from a solopreneur to a team leader involved hiring people from his recovery community and learning from 'E-Myth Revisited'.
Tim's approach to finding business ideas includes assessing the founder, the business's cash flow, and its evergreen nature.
His daily routine consists of early mornings, task assignments, family time, gym sessions, deal-making, and evening relaxation.
The constant worry about potential problems is the hardest part of being an entrepreneur for Tim.
Tim's advice for his younger self would be to focus on getting through one day at a time, especially during challenging periods.
Transcripts
this guy makes over $5 million a year
running three different businesses and
the crazy part is he started from
nothing I flew out to Denver Colorado to
ask him exactly how he got started how
he runs all these businesses at the same
time and the marketing strategy he used
to go from Zer to 22 million with his
first business we generated and still
generate a lot of our leads to Tim
started out as a solopreneur he was all
in on one business but this business had
a problem the more it grew the more
hours he had to work every day then one
day he stumbles onto an opportunity that
would change everything he decided to
become a multipreneur the big goal is to
build a portfolio of assets that
essentially do all the hard work for me
in this video Tim will share how he
built a team to run his $5 million
portfolio of businesses how to find and
close big clients and the best best
business model to start as a beginner I
still think it's the best business for
somebody to start I'm Pat walls and this
is starter
story all right Tim what's up buddy
thank you for having me sure thanks for
being here in your amazing House in
Denver Colorado tell me about who you
are and everything you built great well
my name is Tim Stoddard I own an SEO
lead generation agency called stazzi
internet marketing this year uh for
stazzy we'll do probably like 2 and A5
million but uh on the side and more and
more throughout the day I I find myself
running a personal Holdings company my
guess is it'll be like 5.2 to 5 A5
million for 2024 amazing can you break
down each of the different businesses
that you run within your holding company
sure stazzi internet marketing is the
main driver of everything else that
generates like the cash and the revenue
to make all the other stuff go
subsequently to stazzi is recovery local
that's sort of the parent company that
own owns sober.com your first step.com
detox.com and medically assistant.com
then there's copy blogger.com so copy
blogger teaches people how to write for
the internet how to build newsletters
how to do SEO on websites how to write
on LinkedIn so I've I've built up equity
in like five or six other companies over
the last couple years but those three
are the main ones so you have all these
different companies what's the Big Goal
what's the strategy of running different
multiple companies well the big goal is
to build a portfolio of assets that
essentially do all the hard work for me
I had a real like click moment like oh
wow I don't have to just work for a
paycheck every week I can use the money
I make through stazzy through my agency
reinvest it into Cash flowing assets and
eventually build up a portfolio where
the businesses the company themselves
just do the hard work for me I just made
up my mind to do it I've been doing it
ever since yeah can you give me a
timeline of how you got started and how
how you got into the business of
Entrepreneurship I grew up a bluecollar
kid I built houses for most of my
childhood my dad worked at the airport
and my mom was a nurse and so I just
thought I'd be working my whole life got
in trouble a lot when I was younger and
I had a bit of a drug problem so the
time came when I needed to change my
life and I went to rehab and and I got
sober about 6 months into that Journey a
friend basically a mentor bought me a
subscription to Success magazine which
had this CD in it and it was this
interview and it was guy named Seth
Goden he said start a blog don't tell
anybody about it and write in it every
day and there was something about that
message where I thought like you know
what I can do that I don't know why it
felt like it was a good direction for me
but I just I knew I could do that so I I
started a blog spot and I would just
write random articles about like my day
and what I was feeling and experiences I
had and there was other people that
might have been getting sober might have
been going through a journey of
themselves and they were saying like oh
I really relate to this or like I felt
the same way but I was wondering how are
these people finding my blog like I
didn't tell anybody about it so I
started researching and I discovered SEO
I discovered search and then I would
read copy blogger every day and just
improve my skills of of being an online
writer and yeah eventually that blog
spot account turned into subnation and
and that's how I got my start yeah I
love that you found this skill of
writing because actually writing was one
of my skills that helped me build
starter story and what's amazing about
starter story is there are thousands of
case studies on Founders who had some
sort of skill like writing or coding or
design they were able to take that one
skill and turn it into a business that
changed their lives if you're looking to
take your skills and passions and turn
it into an online business you should
check out our Workshop that we're
running where I share the story about
how I turned my skills which was
actually writing into a million-dollar
business how I found that business idea
how I executed on that and built that
business on two hours a day while I had
a full-time job if you're curious about
learning more about that you can find
the first link in the description and uh
save a seat for yourself see you there
all right so you got this blog people
are reading your blog they're commenting
how do you turn this into a business all
of the sudden with sobern nation
treatment centers and Behavioral
Healthcare centers were reaching out to
me saying like how did you build this
community how did you build this
audience and so we took the traffic that
was coming from sober nation and almost
turned it into like a a lead generation
media Outlet I remember got my first
client it was 2,000 bucks a month and we
just kept doing it and doing it and
doing it and it's it's scaled ever since
give me a little bit more of a breakdown
about how you built it so you had your
first client then then what did you do
from there we generated and still
generate a lot of our leads through SEO
it was one keyword in particular that I
ranked for it was just drug rehab
marketing and then we started writing
for drug rehab SEO drug rehab lead
generation so if there's like one
message that somebody can get from me
it's that you don't have to build this
giant media entity like you can tackle
it one keyword one article at a time the
trick is to be methodical about it
that's why I hate the advice like just
make great stuff just be yourself it's
just being yourself is like terrible SEO
advice what you want to do is you want
to know what people are searching for
you can figure that out just by going to
trends. google.com type in a bunch of
keywords see what keywords are available
and then write an article that best
solves the particular problem that that
person has I always think of Google as a
problem solving machine you never go to
Google for anything else other than to
solve a problem and so if you can write
an article that best solves that
person's problem you can generate leads
and then on sudden you can build a
business yeah can you tell me the pros
and cons of building and running this
agency agencies are great because
there's no real upstart Capital you
don't have to build anything you just
need to get a client and then all of a
sudden you're a profitable business
they're hard because they're difficult
to scale so like every new client you
bring in you know you have to do more
work you have to onboard them you know
every like two or three or four clients
or however many you got to hire another
employee right but nonetheless I still
think it's the best business for
somebody to start because you just need
a client once you get your first client
all of a sudden you have a profitable
business so yeah let's talk about sales
and closing deals do you have any tips
on negotiation and how to close a deal
there's only a couple things you need to
know about closing deals one is learn
how to ask questions so that the person
tells you their pain points you want the
person to tell you their problems when
that's happening I just write down what
the person says I write down the problem
and I respond with a a solution to that
problem the second most important thing
is is to get like the the price out of
the way in the very beginning because
what always happens you go through this
whole pitch and then people say okay
I'll call you back let me think about it
and that's the worst thing that can
happen so I always start a conversation
by saying like hey love just do me a
favor and let me know if you're serious
about this that way you get like a
commitment and you actually get the deal
closed and then the last and absolutely
most important thing is ask for the deal
here's my line for this it's the best
line it's are you ready to get started
that's all you got to say you say are
you ready to get started and the trick
is you shut up so what I do is I say are
you ready to get started and then I mute
my phone and I put it in front of me and
I just sit there and that's where you
close the deal so you build this agency
it's profitable it's generating cash
then you start buying businesses can you
tell me more about what that looked like
the first one was a company called
moving local again like a lead
generation site people buy moving leads
a lot I built another one called stem
cell Authority which was lead generation
for the stem cell industry I've recently
invested in a company called Kaa which
is an AI content creation tool it's
mainly for SEO it's an SEO tool I was
one of the founding investors in a
company called spark loop it's a a way
for people to build their email list it
works with beehive and it works with
convertkit there's a website called your
Boulder which I bought which is a
newsletter that goes out to the people
of of Boulder Colorado there's another
SEO agency called digital Commerce we
saw a big opportunity to do SEO for
people that want to build email lists
and sell digital products or sell
courses or sell ebooks or subscriptions
whatever the case may be so we have
another agency and then most recently I
just invested in a company called Hey
Creator so hey Creator is kind of like a
Creator Studio you could call it of
people that are all trying to build
these creator-driven businesses and then
of course I bought copy blogger that's
going really well but I'm still running
recovery local and I'm still running my
agency that's really where I spend most
of my time so you're running and have
equity in multiple companies at the same
time what are some of the pros and cons
of running multiple companies well the
cons is more mental sometimes I think
about how much more simple my life would
be if I just had one thing to focus on
and I didn't have to keep track of so
much stuff in my mind the pros are that
I love hearing new ideas I love
researching New Opportunities and so
that keeps me like really engaged and I
really think that investing in private
businesses especially investing in cash
flowing businesses that's just a great
way to make sure your money keeps
growing on itself and going on itself
all right let's talk about tools and
software that you run multiple
businesses on what are your favorite
ones well slack is a must it's just a a
great communication tool especially now
that we're all over the country
underutilized is Loom like Loom is the
best you can just get your idea out one
time and people don't have to stop what
they're doing to know what it is that
you need to tell them to doist is great
for me is the simplest task management
tool but I write down all the tasks that
I need to assign I record Loom videos
and then I assign them on todoist and
then that's it the rest of the day takes
care of itself although it's the most
expensive HubSpot in my opinion is
definitely the best CRM it makes it easy
to keep track of your leads to keep
track of your network and then click up
I think if you're running a real
established agency to doist isn't going
to be enough it's just not robust enough
and so toist is really where I manage my
personal Holdings company but clickup is
where sty runs that's like our our real
task management software so slack
todoist Loom HubSpot and clickup and
then of course Google Drive like
sometimes we laugh that basically every
tool that anybody makes is just like a
modified version of of Google Sheets and
Google Docs and so like yeah Google
Drive is a must so your goal is to build
these self-sustaining businesses and now
you have a team how was it going from
just a solo preneur to building a team I
had access to a lot of young people that
were just getting into recovery I hired
them like straight out of halfway houses
and we've all built this together over
the last 10 years so in terms of
managing a team read the e- myth
Revisited that book changed my life I
just realized that I am in the way of
everything I am literally the biggest
problem in the company and the best
thing I can do for the company is
document processes be organized about it
teach and then get the hell out of the
way because I don't do anything except
mess things up when I get in the middle
of it so read the emth and read it again
again and then read it a third time and
take notes on it and just do everything
that book says and you'll be fine yeah
so you've invested in tons of businesses
and you built tons of businesses how do
you approach finding great business
ideas and knowing when to invest and
when to not invest in a company there's
only three things that I really care
about one do I like the founder because
if I don't like the person it doesn't
matter how great the idea is like life
is too short to deal with people that
you don't like two is it cash flowing I
personally am not interested in betting
on a thousand companies and hoping that
like one of them turns the Facebook I
want to build a portfolio of assets and
then the third one this is just for me
personally is is it like ever green I
want to find something that's going to
be around forever right that's why
Healthcare is appealing to me because
people are always going to need to take
care of themselves so that's it like is
the founder cool does it cash flow and
is it Evergreen and if it meets those
criteria I'll take it seriously all
right let's talk about what a day in the
life looks like for you what are you
doing these days all my days look
exactly the same I've always woken up
very early so I'm usually up at like
4:00 chug some water I get a cup of
coffee I sit on my computer I record my
assignments for the day by that time my
kids used to wake up I play with them I
take them to school around 8:00 and then
my wife I go to the gym I'm in the gym
every day from 8:30 to 10:00 I come back
I eat and uh then I work the afternoon
is usually deal making so the mornings
for me is like Logistics and task
assignment and the afternoon is is deal
making so I follow up with my leads I
make phone calls I write proposals I
write contracts if I close a deal I do
all the onboard and uh then my kids get
home at like 5: we hang out down here
and we play and we eat dinner and I
watch [ __ ] True
Detective like I do the same thing every
day my life is super
boring throughout your journey building
businesses you've been doing this for a
while now what have been some of the
struggles or have there anything that's
been hard in your journey the hardest
part about being an entrepreneur is that
I worry all the time most of my time is
just spent like what's about to go wrong
what's a fire that's about to happen
like where can I see something coming so
that I'm not blindsided and my life
doesn't like Fall to Pieces because of
some problem that I couldn't control so
like yeah I worry a lot every morning as
soon as I wake up I'm thinking like
what's wrong what's wrong what's wrong
it's just it's really difficult to make
that go away yeah if you could sit on
the shoulder of yourself when you're
just getting started just getting
started with that blog what would be
your advice to Young Tim when I was
getting sober basically the fear is
always how am I ever going to have fun
for the rest of my life or like what am
I going to do when I'm at a wedding and
then somebody told me all you ever have
to do is get through the day so you make
it till midnight and then what do you do
when midnight comes you just make it to
midnight again and like it never ever
ends the solution to every problem in my
life is always like I'm just going to
get through the day I'm just going to
make it till midnight so I really really
truly live my life like one day at a
time I don't think too far into the
future I have no idea what's coming next
I just I I make it till midnight one day
at a time that's great advice thanks
thank you
man thank you for having us of course
follow this advice and you will have
five companies making $5 million a year
hey guys I hope you enjoyed the
breakdown of all of Tim's businesses
it's amazing story right if you want to
do something similar but you're
struggling to find the right idea or the
time to build it well I have something
that might help you I'm hosting a free
Workshop this week to show you exactly
how I validated my own million dooll
business and then exactly how I built
that business on Just 2 hours a day
while I had a full-time job because I
know from personal experience there's
nothing worse than wanting to start a
business but not feeling 100% confident
that you're on the right track so if
you're interested click the first link
in the description to save your seat and
I'll see you in there otherwise see you
in the next video peace
[Music]
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