Buying Online Businesses Podcast How Tim Stoddart Acquired CopyBlogger & Scaled It To 7 Figures + His Wealth Creation Philosophies
Let’s uncover the secrets to scaling a site to 7-figures!
Joining the BOB podcast is serial entrepreneur Tim Stoddart, who is the owner of Stodzy Inc., Sober Nation, and Copyblogger.
He is an influencer and leader in the sobriety and addiction space, where he shares his story from addict to entrepreneur and how he has built multiple income streams and helps people do the same with his highly successful SEO agency and marketing businesses.
Jaryd and Tim discuss the path to owning multiple income streams. When should you buy another business or invest in another asset? How can moving from operator to owner change the game in terms of building your wealth?
They also talk about Tim’s journey to buying Copyblogger. What does he look for when buying businesses (and it’s not just about income)? They also share their investment philosophies and strategies for building or starting a business. Why is it that it’s not the company and its employees that grow a business? And who actually grows the business?
Don't miss out on the strategies that turned CopyBlogger into a 7-figure powerhouse. Click the ‘Play’ button to unravel the wealth creation philosophies and kickstart your path to prosperity today. Your success story begins here!
Episode Highlights
06:10 When is the right time to diversify your investments?
13:36 Tim’s perspective on investing
23:49 Copyblogger’s journey into a profitable website
29:30 Don’t monetize too early!
31:45 Who builds and grows your business?
39:18 Putting money where the cash flow is!
Key Takeaways
➥ Tim suggests that there isn't a specific rule for determining when diversification becomes too fast but emphasizes focusing on the core revenue-generating business while using surplus funds for additional investments.
➥ Tim shares that he sees the acts of running a business and owning it as distinct roles. He leans toward the idea of buying assets, whether they are businesses or online companies, and aims to remove himself from the operational aspects. Tim introduces three categories: owning a business, owning assets (particularly online businesses), and investing.
➥ The common mistake in the online business space is prematurely chasing money. Instead, what you can do is build authority, brand value, and trust through content before pursuing monetization.
About The Guest
Tim Stoddart is the Owner of Stodzy Inc, Sober Nation, and Copyblogger.
He is an influencer and leader in the sobriety and addiction space, where he shares his story from addict to entrepreneur and how he has built multiple income streams and helps people do the same with his highly successful SEO agency and marketing businesses.
Connect with Tim Stoddart
➥ https://stodzyinternetmarketing.com/
Resource Links
➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness
➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com
➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/
➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX
➥ Surfer SEO (SEO tool for content writing) - https://bit.ly/3X0jZiD
➥ Link Whisper (SEO tool for internal linking on websites) - https://bit.ly/3l7K7Ld
🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥
➥ Empire Flippers - https://bit.ly/3RtyMkE
➥ Flippa - https://bit.ly/3WYX0Ve
➥ Motion Invest - https://bit.ly/3YmJAmO
➥ Investors Club - https://bit.ly/3ZpgioR
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