Perseverance and staying true to core values are essential elements for any business to become successful. But along the way,  difficult obstacles and failures are unavoidable. How can we turn these challenges into stepping stones for growth and improvement?

In this episode, I have Tim Shaffer, Co-Founder and CEO of SearchTires. We discuss the importance of supporting local brick-and-mortar businesses and the model he created to help consumers find the best local prices on car tires. Tim shares how he learned from early mistakes to build a simple, user-friendly platform that solves a real consumer need. Tune in, and learn more!
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Listen to the podcast here:

Overcoming Failure to Find Success with Tim Shaffer
Welcome to Action’s Antidotes, your antidotes in the mindset that keeps you settling for less. One of the things I’ve alluded to in some of my past episodes is this idea of four barriers to success and when I talk about these four barriers, there’s other versions of it, I generally think of awareness, action, persistence, and then, of course, dealing with some kind of a setback or dealing with some kind of a failure often, people oftentimes have to readjust. My guest today is Tim Shaffer, he’s the founder and CEO of SearchTires and has a really interesting story about kind of implementing all of that to go after a specific niche, a specific corner of our business world that he feels really passionate about.
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Tim, welcome to the program.

 

Thanks for having me, Stephen. Look forward to it.

 

Definitely. Now, let’s start out with SearchTires. So, first, obviously, when I talk about this awareness action and then persistence or sacrifice and then failure, the first thing is awareness and action so what made you decide that you wanted to start a business on your own and then what made you decide that searching for tire prices was going to be the objective of your business? 

 

I come from a tire background. I worked in corporate America for 15 years in that background. Late 2009, I was in Colorado and I’ll never forget it, I was in a hot tub and I was skiing and another guy behind me was talking about Kayak because Kayak just came out and how he found flights on Kayak or something or something, and I’m thinking I’m in the tire business, why don’t we have something where people can look online, agnostically, at all the prices and then pick the place they want to go to? And so that’s how I came up with, so that was the awareness that we really need a tool like this because it helps people save money and more and more as the prices go up. The average price of tires is $700 a set and we save people an average of $180 a set of tires. So, I wanted to implement that even back then, but then the next step you’re talking to is the big step. I have the idea, how do I go do it? Because you’re afraid. It’s like, holy moly, this is a great idea, how do I overcome the fear of coming out of corporate America, which is a lot of work, but the stability is there, compared to on your own, so I inevitably built this kind of out in the background while I was working, and, in 2012, I went out on my own and started to – started on this project, I should say.

 

Yeah. So, one of the interesting things that people often talk about is niching in businesses and one of the areas where I see this manifest a lot is, of course, when people talk about their target audience and a target audience like, okay, I’m here to serve, you can use traditional demographics or, increasingly, people use psychographics, but your niching seems to be less about who you’re selling to in the sense of I’m looking for people that have this psychographic experience, the person that, I don’t know, goes golfing and watches certain programs on TV and more the micro niche within the human experience in that you didn’t go and try to tackle, say, all auto parts or all transportation or something huge. You stuck with tires.