James Sinclair's Business Broadcast podcast

£1,000,000/month? Online Competition Model I Don’t Fully Understand (4k)

Jan 20, 2025

How does an online competition business make £1 million in just a month? Dive into the remarkable growth story of an online raffle company, highlighting its leap from £100,000 to £1 million in two years. Discover the importance of fair pricing in business acquisitions and navigate the world of online prize competitions with insights into legal challenges and consumer behavior. Learn innovative marketing strategies, including collaborations with charities, and enjoy a fun quiz about Candy Crush revenue that adds a playful twist to the business talk!

51:56

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Quick takeaways

Cosmetic Competitions achieved £1 million in monthly revenue through innovative competition formats and strategic marketing efforts using online raffles.

The creation of a 60,000-member Facebook group has significantly enhanced marketing effectiveness by fostering community trust and encouraging customer engagement.

Connor plans to transition from contractors to full-time staff to professionalize operations, aiming for £5 million in annual revenue while ensuring compliance with new regulations.

Deep dives

Remarkable Growth in Revenue

The business Cosmetic Competitions has experienced explosive growth, generating impressive monthly revenues. Initially making between £75,000 to £100,000 a month, the business skyrocketed to £1 million in January 2025. This rapid growth can be attributed to innovative competition formats and effective marketing strategies. Connor, the business owner, has leveraged online raffles and instant win competitions to capture a wide audience while maintaining high profit margins.

Intro

2min

Growth and Challenges in Online Raffles

11min

The Importance of Fair Pricing in Business Acquisitions

4min

Navigating Online Competition and Business Strategies

12min

Exploring the Innovative House Raffle Business Model

2min

Strategies for Business Growth and Engagement

9min

Evaluating Entrepreneurial Excellence

7min

The Candy Crush Quiz Challenge

5min

How does an online competition business generate £1M in just one month? This week, James and JB break down the numbers, explore the business model, and try to figure out how it’s all possible.

Welcome to the Business Broadcast Podcast! Each week James brings on the show an entrepreneur who shares their biggest challenges and struggles in business.

James coaches the business owner through these challenges by asking those hard hitting questions in order to get to the bottom of these problems and help the business owner soar to success.

Find out more from Connor here: cosmeticcompetitions.co.uk

Find out your Entrepreneurial DNA and take our '8 Traits of the Greats' Quiz: https://jamessinclair.scoreapp.com

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