🧠 A Nextdoor Advertising Agency
What is Nominal Return vs Real Return and How Much Do Public Speakers Charge?
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1. Business idea of the Week: Nextdoor Advertising Agency
Have you heard of Nextdoor?
It’s an app that connects neighbors. Neighborhood news, recommendations, (and gossip), all submitted by your local neighbors.
Here’s some Nextdoor stats:
Over 36 million users.
1 in 3 US households use Nextdoor.
Available in 11 countries.
It’s safe to say Nextdoor is a popular app.
So what can you do with all of these users? Advertise to them.
The idea: Create a Nextdoor advertisement agency. This business will create and run ads for businesses on the NextDoor platform to generate sales and leads.
This will be almost identical to a Facebook ads agency, but swapping out Facebook for Nextdoor.
Nextdoor’s ad platform launched in April 2022, meaning it is far less saturated than Facebook.
You can use the same business model, outreach, and systems as a Facebook ads agency, but you will have the advantage of operating in a less saturated marketplace.
Here’s a video on the basics of starting a digital marketing agency.
How to get started: If you’re going to offer Nextdoor ads as a service, it’s important that you actually learn how to run Nextdoor ads.
Here’s a video from Nextdoor on the basics of creating a Nextdoor ad:
Once you feel confident in running Nextdoor ads, it’s time to find your customers. Your ideal customer will likely be a local businesses, since Nextdoor is best for targeting an audience in a specific area.
Example: Run ads for an ice cream shop located in Columbus, Ohio. Target people over the age of 18 that make over $50K/year and live within 50 miles of Columbus.
Ideal customers will have money to spend on advertising, and will be looking to grow.
You can charge businesses a monthly retainer fee, and bonuses based on results.
Things I like about this business:
Help local businesses make more money. ✅
Recurring monthly revenue from retainer agreements. 🔄
Nextdoor ads are still super new and less saturated than Facebook ads. 💸
Let me know what you think!
2. What is Nominal Return vs Real Return?
With inflation skyrocketing these days, real returns is an important measure.
Let’s break it down:
Nominal return is the amount of money made by an investment without factoring in expenses such as taxes, and inflation.
Real Return is the amount of money made by an investment with expenses factored in.
If an investment returns 10%, but inflation is 5%:
Nominal Return = 10%
Real Return = 5%
So why is this important?
Because it helps us understand what our actual profit is, not just the top-line return rate.
Class dismissed.
3. How Much Do Public Speakers Charge?
Have you ever wondered how much famous people get paid to speak at events?
Me too.
Thanks to wsb.com we can get an insight on what it costs to hire a famous speaker.
Lets take a look at a few interesting ones:
Mark King (CEO of Taco Bell): $40K - $70K
Coach K (Men's Basketball Coach, Duke): Over $70,000
Richard Montañez (Creator of Flamin’ Hot Cheetos): Under $25,000
David Blaine (Magician): Over $70,000
Barbara Corcoran (Shark on ABC’s “Shark Tank”): Over $70,000
Not bad for a days work…