This Is The Exact Business I Would Start If I Had To Start Over

Tim Stodz
21 Oct 202413:26

Summary

TLDRIn this video, Tim Stoddard outlines a business model centered on creating a local directory that generates revenue through business listings and a complementary agency service. He reflects on his past experience with yourboulder.com, discussing the initial success of a simple directory versus a later redesign that led to a dramatic drop in traffic. Stoddard emphasizes the potential of combining a directory with an agency to attract clients and generate sustainable income, encouraging viewers to leverage this model for building a profitable business in their communities.

Takeaways

  • ๐Ÿ˜€ Tim Stoddard shares a business model centered around local directories combined with a marketing agency focused on small businesses.
  • ๐Ÿ“ˆ The initial success of the site 'yourboulder.com' highlights the potential of local directories in generating revenue.
  • ๐Ÿ”ง A simple, effective website design contributed to the success of the directory, while a redesign led to a significant drop in traffic.
  • ๐Ÿ’ฐ Monetization strategies include charging businesses for listings and offering additional marketing services through an agency.
  • ๐Ÿ“Š The directory can generate consistent monthly revenue, making it a viable business model for new entrepreneurs.
  • ๐ŸŒ Tim emphasizes the importance of SEO and proper URL structure for maintaining and growing website traffic.
  • ๐Ÿค Each business that signs up for the directory becomes a potential client for additional agency services.
  • ๐Ÿ“ฉ Collecting email sign-ups through newsletters can further enhance business opportunities and customer engagement.
  • ๐Ÿš€ The model allows for scalability; as the directory grows, more businesses are attracted to join.
  • ๐Ÿ’ผ Tim encourages viewers to adopt this model for its low overhead costs and high profit margins, suggesting it can lead to substantial earnings over time.

Q & A

  • What is the main business model Tim Stoddard suggests in his video?

    -Tim Stoddard suggests starting a local directory business that can generate leads for a marketing agency focused on small businesses.

  • What was the website Tim Stoddard discussed in detail?

    -The website discussed is yourboulder.com, which Tim used as a case study for his local directory model.

  • What are the key components of the successful directory model?

    -Key components include having a user-friendly website design, a robust SEO strategy, and monetizing through business listings and additional marketing services.

  • What mistake did Tim make that negatively impacted his website traffic?

    -Tim made the mistake of redesigning the website and changing the URL structure, which led to a significant drop in organic traffic.

  • How did the directory generate revenue?

    -The directory generated revenue by charging businesses for listings, offering featured listings, and providing additional services like Google My Business management.

  • What financial outcome does Tim project for someone starting this business model?

    -Tim projects that within the first year, a business could generate around $80,000 in cash before taxes by combining revenue from the directory and service contracts.

  • What is the significance of the email newsletter in Tim's business model?

    -The email newsletter is significant because it helps collect email leads, promotes businesses, and drives traffic to the directory, creating a cycle of engagement.

  • What does Tim mean by saying the brand 'ratchets itself up'?

    -Tim means that as the directory gains more listings and clients, its reputation and visibility increase, leading to more businesses wanting to join, creating a self-sustaining growth cycle.

  • What themes and plugins does Tim recommend for building a directory?

    -Tim recommends using the magazine theme and the business directory plugin, particularly those built on the Genesis framework for better SEO performance.

  • What is the potential long-term revenue for this model?

    -Tim suggests that with consistent growth, one could reach 20 to 25 clients paying $1,000 a month, potentially leading to an annual revenue of $250,000.

Outlines

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Mindmap

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Keywords

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Transcripts

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Related Tags
Business ModelLocal DirectoriesSEO StrategiesSmall BusinessContent MarketingAgency ServicesRevenue GenerationEntrepreneurshipDigital MarketingCommunity Engagement