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

Summary

In 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

• 😀 Tim Stoddard shares a business model centered around local directories combined with a marketing agency focused on small businesses.
• 📈 The initial success of the site 'yourboulder.com' highlights the potential of local directories in generating revenue.
• 🔧 A simple, effective website design contributed to the success of the directory, while a redesign led to a significant drop in traffic.
• 💰 Monetization strategies include charging businesses for listings and offering additional marketing services through an agency.
• 📊 The directory can generate consistent monthly revenue, making it a viable business model for new entrepreneurs.
• 🌐 Tim emphasizes the importance of SEO and proper URL structure for maintaining and growing website traffic.
• 🤝 Each business that signs up for the directory becomes a potential client for additional agency services.
• 📩 Collecting email sign-ups through newsletters can further enhance business opportunities and customer engagement.
• 🚀 The model allows for scalability; as the directory grows, more businesses are attracted to join.
• 💼 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.