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It is 5:49 AM.
I have a lot of ideas floating in my head right now. My DMs are full of people who want to start a business, but do not know what industry to dive into or what business model to choose.
Today, I am sharing 5 broad business concepts you can use to channel your energy and build a clear path toward $20k a month.
LFG. 🔥
1. Content Marketing Is Still The #1 Way I Generate Sales And Grow My Business
There are endless ways to market a business today. As an agency owner with 16 years of experience, I have tested countless strategies. Nothing has generated consistent revenue for me quite like good old fashioned content marketing.
Like most people, I initially thought AI would kill content marketing. In reality, it made high quality content even more effective.
Great writing, taste, and creativity stand out faster now because the baseline is flooded with noise. I am generating so many sales through my blog, YouTube, and social media that I half think about quitting my client work to just be a full time creator. (That is a joke, I would never actually do that).
Tactics come and go, but strong content is an enduring asset.
Over the next few months, the content push I am running for Healthy Margins will generate at least six figures in revenue. I am documenting the entire process so you can watch and build your own system.
2. I’ve Come To The Conclusion That “Membership Communities” Are Terrible Businesses
Juliana’s business is growing fast. She originally planned on launching a paid online community membership. Yesterday, we sat down to look at the numbers, and she decided to skip the community element entirely. Instead, she is building a simple library of videos and workshops.
I completely agree with her choice.
My experience with The Academy proved this exact lesson. Not a single member has asked for a community forum. People want high value information, specific skillsets, and direct answers when they get stuck.
I think traditional online communities are dead.
At Copyblogger, we spent four years and a lot of money trying to build a community. We hired community managers, ran engagement games, and tried everything to make people participate. The courses and frameworks were huge hits, but the community side was a time sink.
COVID tricked us into thinking people want online social hubs. In reality, when people want real human connection, they go to a local coffee shop with friends.
3. Live Events Marketing Agencies Are A Great Idea
If online communities are dying, in person experiences are taking their place.
At Copyblogger, we are shifting our focus to quarterly local meetups. Meanwhile, Juliana sells out her in person breathwork events consistently. People are tired of screens and want real human interaction again.
This shift creates a massive business opportunity for an events marketing agency. I am not going to build this business myself, but someone reading this should run with it.
Why Events Marketing is a Strong Opportunity:
High Margin Retainers: Bigger companies offer monthly retainers to run events on a regular basis. This is where the real money lives. P.S.* - I found a cool conference called Event Expo that I may attend.
Experiences Create Emotion: Juliana’s events have completely changed the way I think about marketing. Her events create such a powerful personal connection with her customers, that every event leads to leads for her higher ticket “one on one journey” services.
Data And ROI: The knock on events was always “I don’t know if I’m getting a return from this.” With AI, you can now use and build simple tracking software to show the return on an event.
I do not know anything about events other than throwing keg parties in high school and helping Juliana set up a few times a month. But it seems to me like a cool opportunity.
4. I Am All In On Personal Branding
I have been building timstodz.com for a decade. It has been an emotional process because for so long, I could not decide what I was really about.
Nonetheless, I kept creating content and putting myself out there.
I am finally hitting the inflection point where I am getting daily sales for the academy and weekly sponsorships on my newsletter.
If it keeps going like this, I will be at $10,000 MRR by the end of the year.
I realize it is not a massive number, but getting paid to do what I would do for free is a blessing. I love doing it, and it makes me happy. Plus, for the first time I have been approached for speaking opportunities, which sounds awesome. :)
I am repeating myself now, but I think more than ever that personalization will be the differentiator for brands. When average content is commoditized, individuality becomes the real value add.
5. The Simpler The Business, The Better
I wrote about this a bit in last week’s issue.
When I was younger, I loved the idea of complexity. I knew logically that it was good to keep things simple, but I dreamed of running a huge conglomerate with endless departments. I vividly remember seeing a video of the Google campus for the first time and thinking it was the coolest thing ever.
Now, I am trying as hard as I can to simplify every area of my life.
The Academy took off when I cut away everything except for weekly video lessons and a simple chat room.
Quantum Leads is exploding now that I have simplified my offer.
Sober Nation is selling more listings than ever now that I created 1 simple product offering for featured listings.
My own nervous system is doing better than ever since cutting out almost all phone calls, Zoom meetings, and unnecessary conversations. We even ride bikes through the city every morning to go to school.
I wish I knew then what I know now. When you are 24, you feel like you are running out of time and need to move fast. Now that I am 40, I feel like the slower I go, the more I accomplish.
In Conclusion: I See Opportunity Everywhere
Thanks for reading. I know this week’s issue was not typical, but I was in the mood to flow and see what ideas came out.
Ultimately, there has never been a better time to build a business. Markets are changing, old systems are breaking, and people are looking around wondering what is next.
Now is the time to create what comes next.
I am creating the future of healthcare marketing with Quantum Leads. I feel like I am early on a new wave of business. Timing has always been my secret weapon, and I have always had the guts to jump on an opportunity before everyone else sees it.
I encourage you to do the same.
What else do you see out there? What opportunities am I missing?
Hit reply and let me know.
Love you guys. Talk to you next week.
Tim
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Great advice as always. Thanks for sharing, Tim