How to Build & Sell $2K/Month Software with No Coding Experience. HoldCo Bros discuss! Ep. #95
Nov 22, 2024
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Nik, a savvy business partner known for his innovative ideas, joins Chris to explore exciting opportunities in the world of SaaS and tax strategies. They dive into the potential of monitoring website updates, revealing how it can boost business growth. The duo also introduces the concept of a 'tax Sherpa' to streamline financial decisions for entrepreneurs. Their playful "marry, date, or kill" segment creatively evaluates business ideas, focusing on a lucrative car dealership tracking software that's ripe for innovation.
Implementing website change tracking can significantly enhance customer engagement and sales for businesses, especially in e-commerce and ticket sales.
Introducing a 'Tax Sherpa' service can empower entrepreneurs with tailored tax strategies, maximizing savings while reducing reliance on traditional CPAs.
Deep dives
Monetizing Distill.io for Entrepreneurs
Distill.io offers a valuable service that can help entrepreneurs track changes on websites, making it particularly useful for industries like ticket sales and e-commerce. By utilizing its capabilities, businesses can create systems to notify customers when prices drop on tickets or products, similar to services like Scott's Cheap Flights. This concept can be expanded to niche markets, such as Shopify stores, where customers can be alerted instantly when items come back in stock. This approach not only enhances customer engagement but also drives sales and improves inventory management.
Leveraging Data for Competitive Advantage
Car dealerships are identified as a local business sector that spends extensively on marketing and could benefit from better data tracking. By offering a service that reports competitors' sales figures daily, dealerships can adjust their pricing strategies based on market dynamics. Using tools like Distill.io, entrepreneurs can automate these reports, providing actionable insights that can inform inventory decisions. This type of service can be offered on a trial basis to showcase value, leading to potential long-term contracts.
The Tax Sherpa Concept for Entrepreneurs
Entrepreneurs often lack proactive tax strategies that could lead to significant savings, which presents an opportunity for specialized tax advisory services. The concept of a 'Tax Sherpa' involves providing entrepreneurs with tailored advice on tax strategies, including retirement contributions and deductible expenses. By using AI tools to quickly analyze tax data, this service can help business owners maximize their tax benefits without the burdensome costs of traditional CPAs. The structure could involve performance-based pricing, where fees are tied to the amount saved, aligning incentives with results.
HoldCo Bros are back! Nik and I sit down to continue our discussion from last week (check out Part 1 - Episode #92 if you missed it!). In this episode, we continue brainstorming cool business ideas, like how to capitalize on website change monitoring for arbitrage and creating a tax Sherpa concept for entrepreneurs. We also do our "marry, date, or kill" segment to assess which of these ideas are worth pursuing, testing, or dropping.