How to Invest (and Blog!) for Millions with Timothy Sykes

American stock trader, entrepreneur, and penny stock expert – Timothy Sykes

Warning: This interview has strong language. Tim’s passion shines through, with quite a few f-bombs. You were warned! 🙂

Timothy made his first million as a teenager, investing in stocks. He started to be transparent and show his stock picks online, and ended up creating a hugely successful business off of his blog. We talk half about investing, and the best tips for that, and then switch to how he build his blog that earns millions. Plus learn tactics that work for him!

He also was JUST featured on CNNMoney because he made his 2nd millionaire. Check out the article on CNN here.

Here is the video he did with his second millionaire.

Check out TimothySykes.com for more info!

Thanks so much for listening!

Transcript:

Jaime: Thanks for watching Eventual Millionaire. Today I have Timothy Sykes on the show, of timothysykes.com. He has made millions of dollars blogging and also millions of dollars stock trading. I get a lot of e-mails from people asking me about stock trading and whether it's a viable tip to earn money so in the first half of the interview we talk about stock trading and whether it's a good idea or not, who can do it, who can't, all of that fun stuff; he is extremely transparent. Then we shift gears a little and talk about how he made millions of dollars from his blog online and give some tips and tactics on that too. Just a warning, we have a lot of swearing involved in this video so if you have small children you might want to save this one for later! I hope you enjoy.

Announcer: Welcome to the Eventual Millionaire podcast with your host, Jaime Tardy. Real talk and real advice from real millionaires, with a sharp focus on you, the Eventual Millionaire.

Jaime: Welcome to Eventual Millionaire. I'm Jaime Tardy and today we have Timothy Sykes on the show. I'm super exited to have him on the show because I had all of his friends on the show, apparently, and he felt left out, so I had to have him on. He has an amazing blog at timothysykes.com plus he is a serial entrepreneur and has profit.ly, investimonials.com, a whole bunch of really cool stuff, and he is launching something super-cool really soon, so we'll talk about that. Thank you so much for coming on the show today, Timothy.

Tim: Thank you for taking pity and having me on.

Jaime: Can I call you Tim? Not Timothy?

Tim: You can call me whatever the fuck you want.

Jaime: I have to stop with that because I'll come up with something really bad and everyone will comment and e-mail me about it!

Tim: People say I look like Ben Affleck on crack.

Jaime: You kind of do.

Tim: Yeah?

Jaime: Yeah. You should be proud of that.

Tim: I am. It's better than Ben Affleck with Down's Syndrome.

Jaime: I just saw the other day that Ben Affleck was on Voyage of the Mimi. You don't know what that is.

Tim: I've heard of it. I remember seeing something about that.

Jaime: When we were in second grade or something like that, Voyage of the Mimi was really cool. Alright, never mind! So tell me, if people haven't heard about you yet, we're going to go with a normal question that I ask everyone at the beginning tell us a little bit about your rise to fame.

Tim: This is a 45 minute answer. Mine is 44 minutes. I was a middle class kid in Orange, Connecticut, I was a tennis player. My parents gave me control of my Bar Mitzvah gift money. In senior year of high school I had a tennis injury so I had two casts and I'm walking around like fucking Robocop and my parents gave me control of the money thinking that I would lose it all in the stock market and instead I turned that $12,000 into $1.65 million in four years, before I graduated college, started a hedge fund in college,was the number one ranked short bias hedge fund manager for three years, then I lost 35% because I was a cocky, dumb, inexperienced kid. I was on this TV show right as my hedge fund was losing money because I tried to invest rather than trade. The TV cameras are in my face every day so I was drunk in every scene, and that's Wall Street Warriors, which is now in 22 countries, and that launched my teaching business because everyone was like "Hey, I want to turn a few thousand into a few million," and I was like "Alright, I think I can do this again." So I went back to the $12,000 again and in four years I turned it into over $200,000 but this time showing every single trade along the way, teaching every single lesson on my blog, timothysykes.com and now, five years into teaching, I have over 2000 students in 60 countries and some of my top students are replicating my success, like Tim Grittani who will be speaking at my Vegas conference. He has taken $13,000 and turned it into over $700,000 in two years; he just graduated college. So it's not just me " it's replicable. I love teaching, I love making an asset out of myself and I love making money and travelling the world. I'm coming to you from Paris, France and even though I have a wicker bedroom this is Le Bristol and it's $1500 a night for this piece of shit hotel.

Jaime: I was making fun of him, sorry.

Tim: I mean it's cool but it's Paris. I don't know, I've been on this whirlwind trip just to compare infinity pools in Mykonos, Santorini, Positano and Capri. So I did those four and I'll make a blog post about which has the best infinity pool but I figured why just sit at home when I can spend $50,000 in two weeks and have fun doing it.

Jaime: See, when you become a blogger you can do that too check out infinity pools.

Tim: Wait until you see this video series. I compare temperature and the sunsets. It's pretty intricate.

Jaime: I cannot wait. I'll make sure to put that on my calendar and that is the first thing I'll do that day. I appreciate that; thank you for taking the time to do that.

Tim: No problem.

Jaime: I have questions about trading I'm not really in the trading space but I get a lot of people e-mailing me about this and most of the time they're disheartening, sad people who say "I tried trading and it didn't work for me so now I don't like the industry." Tell me about those people.

Tim: 90-95% of traders lose money. Even 70% of professional money managers fail to beat the SMP500, which is the main stock market index, every single year. So it's like this game full of losers and it's because you're just gambling. Inexperienced people have no rules. What separates me from those people, the wealthy 1% in the stock market, is that we have rules, we have discipline. Over 14 years of trading I've developed rules like even if my gut feels like buying something, like this company has a new product and I want to buy it, I think the stock is going to go up, the rules come into play and I check out my little indicators and maybe it has 3 of the 7 indicators I use to buy a stock. That's not enough to get me in it. Other people, when they're just starting and they know nothing, they just go in and then they lose. That's why I become a teacher. My job is the easiest job in the world ' all I have to do is explain what made me so successful, and I talk about my losses too. I win about 72% of the time so I created profit.ly to keep track of all my trades. You can see all 2000+ trades because when you turn a few thousands into a few million a lot of people are suspicious, you see these "Bullshit" claims everywhere so I'm like "Okay, motherfuckers, look at every single trade," and you can see that it's not just one big win where I went from $12,000 to $800,000, it's little wins. Myself and Tim Grittani, my top student, he's making about $800 per trade, I make about $2000 per trade, but it adds up over time and it's just about trying to find a process and the repeat it. No different than you giving interviews you're a successful interviewer, you have your questions, you have your process, you have your format and when it's time to do the interviews you're all prepared. It's the same with a trade you have to be prepared ahead of time and people aren't. When I go into a trade I have specific goals, a risk, an exit point where I say "Uncle!", specific things along the way and this is all before I push the buy button and most people are just like "Eh, I'll try it. What's the worst that could happen?" and they lose.

Jaime: So tell me about this, because when I was asking somebody they were like "I can't just follow a system because you have to check in and make your own system every time." Is that true?

Tim: I mean I have these rules but they're not set in stone. There are slight mutations with different markets, like right now we're in a strong bull market so you can be more aggressive, where you're trying to go for homeruns instead of doubles and triples. But normal rules, I'll give you a basic rule right now companies report earnings four times a year. Public companies have to say how they're doing profits, revenues, their margins the CEO usually has a conference call and says how they're doing. Four times a year. So you get an update on how the business is doing in real time. Private companies don't have this. We all like Subway's sandwiches, we have no idea how much money they're making. I love the new avocado spread, I think it's genius, but we don't know if it has added to their profit margins; they're a private company. Public companies, I keep track of these earnings winners. I call them earnings winners and that way I can basically buy the strongest companies, the companies that are doing the best in that time. That's just a basic rule. Some people seem to stock up a lot and they're like "Oh, the stock is up too much, let me get out!" For me, I don't care if a stock is up if it's based on good news, because the good news will mostly likely last for a few days, weeks, months, because this business is not based on a few days. If a company is doing well, like Facebook right now, the stock is surging every single day because people are seeing the potential in Facebook so now we see what's going on.

Jaime: Is this stuff innate, though?

Tim: My girlfriend just handed me some champagne.

Jaime: Paris. He's going out after this. He's living a lifestyle that sounds totally cooler than mine. I appreciate that. Is this innate, though? Because you were able to do it when you were that young.

Tim: I was very lucky. I was like Forest Gump when I first started everything just worked for me. I started in 1999, 2000, when the stock market was doing crazy. A lot of people made a lot of money back then but there are small differences. A lot of people made money but I kept my money because I learned short selling, which means betting against stocks, so I go both ways. If a company is doing well, I like to buy it, if I think a company is going to fail, I like to bet against it. I learned that just because there were no more earnings winners to buy. Nothing fit my criteria so I switched to the other side and that's what successful traders do, we're very adaptive.

Jaime: So, looking at the successful students that you've had and the not so successful ones, what's the difference between the two?

Tim: It comes down to hard work. I have all of these lessons and rules and some people just want hot stock picks. They're like "Give me a pick. I don't care about your fucking rules; just let me put my money in something." They're doing it for the action, they're not taking it seriously, and they don't necessarily believe what I'm teaching. The people that do succeed, like Tim Grittani, and I have other students like Mark Cook, he used to work in a cubicle, he quit and now he's up $250,000 in just over two years and he actually moved to Miami. But he watched all of my video lessons three times. I don't have this magic formula, I'm not going to say that, but if you're experienced, it's better to learn from someone who's had success. If you're going to learn baseball it's better to learn from somebody who was in the major leagues, not somebody who could never make it, and I think this is the problem with the American education system where you have these teachers who are basically just doing their teaching job because that's their only job. They're not qualified, they were never successful in life, there's that saying "Those who can't do, teach," so you're getting these unsuccessful people teaching, which sucks. What if the most successful people in the world all started sharing their secrets? Then we'd have some interesting students.

Jaime: So what make you start timothysykes.com and start telling people about this?

Tim: I was running my hedge fund, I had three good years, one bad year, but we were still up overall. The e-mails started coming in from this stupid TV show that we did, it was a reality TV show call Wall Street Warriors, you can watch it on Hulu. I?m literally drunk in every single scene.

Jaime: And people were like "I want to invest in that guy!"

Tim: It was real; I had nothing to hide. One guy claimed to have turned $2 million into $100 million. He was all polished I met him, I was impressed - but you see him on this TV show and they're like "What do you do for fun on the weekends?" and he's throwing a stick to his dog on a private beach and he's like "This is what I do." Really? You turned $100 million and you throw a stick to a dog? You can do that if you're broke! He turned out to be a total fraud he's in jail right now. He never made any money; he just pitched this whole story. So that's why on profit.ly and Investimonials I show exactly how I'm doing, I show how my students are doing, transparently. On the TV show, even though I was drunk, I did show that I was making money, everything was audited. I think that if you just show that you're real and that you're an expert in something you can say pretty much whatever the fuck you want.

Jaime: I like how you said that. So you already had people that really, really wanted this stuff so did it just skyrocket? Because, number one, how old is it? And did it just skyrocket from the beginning because you're awesome, apparently?

Tim: The six year anniversary is coming up in a few months. I basically just created the blog to promote my book. I thought I was going to be a bestseller with this book about hedge funds. That was fucking wrong. I sold like 10,000 copies but because I self-published, I rejected Wiley, who basically wanted to give me $35,000 for my life story and I didn't think that was proper so I published my own book. I have my own publishing company called Bullshit Press. I was going to cut through the bullshit in finance. I sold some copies, I made like $200,000, but the blog was just to promote that. Then the blog kind of took on a life of its own because people started commenting. I had a book and I had a DVD just teaching basics but then people said "Hey, can we do this in real time?" and I thought about it and I was like "Yeah, we can give real time alerts," and that created timalerts.com which is basically my real time alerts, so now my students get a daily watch list and real time alerts whenever I make a trade so now it's a much more interesting game because you can trade and learn in real time. So I went from the book where I made $200,000 over, I don't know, three years, so it's not bad, but the real time alerts started making me $10-30,000 per month just from people subscribing and then people started seeing students?" success stories, like Tim Grittani who made $700,000 in two years. Who doesn't want that? So now it's taken on a life of its own.

Jaime: It's amazing that something that was supposed to support a book became your main marketing tactic in general, which is awesome.

Tim: Now I just give away the book for free. Fuck it!

Jaime: You already made $200,000 - you don't need to make any more off it. Can we do this now? Because you did this six years ago. You probably get this question all the time but I need to know the answer. Six years ago it was a completely different landscape online. You're probably one of the first guys to be so transparent in the space. Could someone do the exact same thing that you did if they started right now?

Tim: 100%. It's much easier. Because I created profit.ly and Investimonials because they were the tools that I needed to do the business. To send out e-mail alerts we were using Mail Chimp. Mail Chimp kicked out all of the finance people because we're sending out stock trading alerts all the time and it was fucking with their spam rankings so we basically had to create our own. Profit.ly has our own e-mail built in and we're using like 22 different tools and combining them. So it's easier now that the tools exist. It's not just me if there are any profitable traders out there, we manage and try to grow other traders? businesses too. There's this guy, Superman, I've known him over the years as a good stock picker on message boards and I kept saying "Create a newsletter" and he never listened to me. Then I started posting some of my income, where I'm making $2-3 million a year doing this and he was like "Okay, let me do this." Last month was his first big month and he made $60,000 last month with a few good stock picks but we built his newsletter up because when you have a few good stock picks a lot of people want to get it, they want to get in in real time, so I think it's a good time to start.

Jaime: But it's only if you're having massive success?

Tim: If you're an expert and you can prove that you're an expert. If you're a plumber and you show you can fix any leak in the world; if you're a ballerina and you post YouTube videos of you doing amazing things; if you're Justin Bieber, he was found on YouTube. Anything where you have a special talent and you can verify it and record it and share it, I think that you can easily build a business around that. If you're not an expert in anything then become one go work and do that. Some people e-mail me and say "I have $50 to my name, I'm really inspired by your story can I start with the stock market?" Fuck no. Go rob a liquor store, start a lemonade stand, go beg on the street. There are lots of options that you have when you have $50 to your name. The stock market is not one of them. If you beg on the street, put some dirt on your face and go to a really busy corner, you could probably make a few hundred dollars a day.

Jaime: So this is the new Eventual Millionaire strategy we need dirt!

Tim: I think you would make a great homeless person.

Jaime: Thank you, I appreciate that.

Tim: You're a little too trendy with your stylish stuff there. You've got to rip it or put it in a rain shower, put it outside for a few days, make it smell.

Jaime: These are good tips, I appreciate that.

Tim: I don't know how much Eventual Millionaire is making but you could make Homeless Millionaire. That would be a sick documentary.

Jaime: I have my Go Pro right there!

Tim: Do it. Record it. It will be the next Supersize Me. "Homeless Me."

Jaime: I was going to go off on a tangent that I should not be bringing up on the podcast. So back to blogging you were talking about ballerinas, plumbing, all of that fun stuff, but financial trading, where people can make a whole bunch of money, is a bigger industry. How many plumbers are there doing something like that?

Tim: Hey, everyone needs a plumber, not everyone needs to be a trader. Don't knock the plumbing industry. No one wants to grow up and be a stock trader. I didn't want to do that when I was young, I just wanted to be rich. I was this rich, greedy Jewish kid and I found my way, my Jewish nose sniffed out the money there's money on Wall Street, let me go there. so whatever you're an expert in, I really wouldn't make assumptions about what industries are good or bad, if you're the number one plumber in the world, you're making millions of dollars a year. If you're the number one bed sheet lint remover, you're still doing well, I don't know if you're a millionaire.

Jaime: I have interviewed millionaire plumbers, by the way.

Tim: Have you? There you go!

Jaime: Yes I have. I'm not knocking the plumbing industry whatsoever.

Tim: If you can prove it, you'll probably get your own reality show too.

Jaime: Like Duck Dynasty. I have never seen that show, though.

Tim: I saw an ad for a plumbing reality show that I thought was funny "We're number one at number twos." I thought about it for a second; it was a great ad.

Jaime: It took me a minute to get the joke, then I started laughing. So give me some tips and tactics and tricks that people can use. Because a lot of people who are listening right now either have online businesses, blogs or are experts and want to grow. It's always about growing more and as you've grown so huge actually, how huge have you grown? How many subscribers do you have?

Tim: I personally have about 2500 students who pay between $50 and $500 per month and then profit.ly, because there are other traders on there, we have nearly 4000 traders paying too. We're on track to do just under $10 million this year, so I guess that's good going. I don't feel that that's really good; I feel that the potential is so much greater. I did this video in Mykonos I have Google Glass on and I have this futuristic set and I was like 
This is Tim Sykes from the future self-made billionaire," because right now I say self-made millionaire, "And I'm warning you, I'm going to get very busy once I create more millionaires," and I was trying to warn the past of the coming future. I think we could do a lot more because you have bullshit firms on Wall Street that do billions a year and they're not helping people. If you can help people, if you can provide a good value proposition, the sky is the limit. I really don't know what it is. I think there is something like 25 million online discount brokerage accounts in the US alone, so when I have 2500, what's 2500 out of 25 million? I have a little room for growth.

Jaime: A little. A little room.Awesome. So give me some tips and tricks that you've used, something really tactical that you've used, I like how we're moving around here.

Tim: I want to show you my girlfriend. She's the cutest girl, she's the most beautiful girl. She doesn't want to be seen.

Jaime: That never works, Tim! That never works. Like, let me put on makeup.

Tim: She put this hat on. This hat that we got in Paris.

Jaime: That's awesome.

Tim: This hat is ridiculous.

Jaime: That's a cute hat, what are you talking about?

Tim: No.

Bianca: My hair is crazy. It's raining here.

Jaime: That's awesome. Nice to meet you. I don't know your name but okay.

Tim: It's Bianca.

Bianca:I'm Bianca, nice to meet you.

Jaime: I'm Jaime, nice to meet you too. You told me this was going to be a crazy interview, Tim. Goodness!

Tim: It's not that crazy wait until the champagne hits.

Bianca:It already hit.

Tim: It hit you, it didn't hit me. Tips on growing your trading business or blogging business?

Jaime: We already switched on to blogging, so blogging.

Tim: I would say A) promote your own products, never promote anybody else.

Jaime: Never? Okay.

Tim: You really have to be selfish. I don't like these ad based business models where you're an affiliate of someone else. No one can promote me as well as I can promote myself. I know every single angle with my strategy, I get all these questions. The way that I got started was I started getting 10, 20, 50, 100 e-mails in a day now I'm up to about 2000 e-mails a day, pretty much every day, so it's kind of crazy, and only I read all of these. I read every single one of them. So I know my business inside and out and it's the same way with other people, if you are meticulous with your own products. I'm not going to pitch plumbing or champagne, because I use both, not at the same time!

Jaime: Good to know!

Tim: I use a plumber every now and then, I drink champagne every now and then, but I'm an expert in training and maybe I'm good at making money blogging. So be selfish. Number two, understand that a lot of capturing interested readers and customers is not based on yourself you have to think about what they want. A lot of my blog posts are so basic I just fucking want to shout because they're so painfully basic, but those are the ones that are best for readers because they know nothing. A lot of people, they know nothing, so you have to think outside of your head for a second, even if you think something is so basic, there are people out there who have no idea, they don't even know what the word blogging means. I spoke at Tulane University the other day, a few weeks ago, the university invited me back, I have a scholarship there, blah, blah, blah. I was like "How many of you want to work on the internet?" Not one person raised their hand. I was like "Are you fucking kidding me?" These stupid parents are telling them to be doctors and lawyers, that's where they can make all their financial security, and they're missing the greatest invention, the greatest time in the history of mankind, so that's sad. Number three, I would say don't trust anybody on the internet. There's a lot of bullshit out there.

Jaime: Trust me! Okay, keep going.

Tim: You seem trustworthy, but it could just be an act, you know? You have these mid-westerners and they seem so trustworthy and then they fucking drain your account. I hear nasty stories all the time. You really need to make people prove it. If I say I turned $12,000 into $1.65 million, show me the fucking audits and I'll send you the PDFs. If you say your student has done this, there are all of these fake testimonials out there, these numbers floating about from Joe R. Show me that guy's Facebook! All of my top students are on Facebook and they start getting annoyed because I mention their real names and they start getting messages asking "How did you do this?" and I'm like 'Yeah. Multiply that by 50, motherfucker! You have no idea."

Jaime: That's what you get.

Tim: Yeah, I mean if you're real, and this is part of the reason I just swore, because it just shows that I'm real. If I was a fraud I wouldn't swear because I would be too scared of making enemies. I'm not scared of making enemies try and come at me!

Jaime: So number one, we need to swear! To be trustworthy. Good to know!

Tim: It's like Sarah Palin basics never pronounce yourGs, stuff like that.

Jaime: This interview is awesome. Alright, good.

Tim: I am being as real as I can. I don't try to hide it. I don't prepare for interviews. I don't want these structured answers. It's just all off the top of my head, so you can see that I'm real. I might stutter, I might say the wrong word, I might use poor grammar, whatever.

Jaime: The introduction that we got, someone told me "He's a little?" and I was like "I've heard his interviews, I know what I'm getting into."

Tim: A little what?

Jaime: A little awesome.

Tim: A little Ben Affleck. What was the word used?

Jaime: I don't remember. Crazy? I'm kidding.

Tim: I just want to put it on my biography. Crazy? Nice!

Jaime: Crazy would be good. Alright, I know we have to start wrapping up. You made a sad face, that's really good. The question I always ask, which I prepped you for ahead of time, so it better be an awesome answer, is what's one action listeners can take this week to help get them to their goal of $1 million?

Tim: I shouldn't have thought about that. Two answers, because one is for stock trading and one is for blogging. I'll do the easier one first, for stock trading. Just learn the basics of the stock market, really get into it. Most people that I meet want to get into the stock market but they know nothing. Use free websites like Investimonials and profit.ly, you can dig through trades, and if that's too confusing, go to Investopedia and read through finance terms. Just get to know it. It's such an important thing. Even if you're not going to be a trader, it's so important to know finance in your lifetime. Everyone needs it, everyone can use it. I hate seeing money wasted and that's what I see. Blogging? I would start becoming an expert at something. I know that's not something that you can do right away. If you already are an expert in something, then prove it online. Make YouTube videos, show Instagram pictures, like a plumber can show before and after, a trainer can show before and after, a chef can show meals that they cooked those are just ways of proving it. even if you think no one cares, there are so many billions of people on the internet and if you post unique and real content showing your stuff off, people will find it, especially if you use hashtags and search engines, stuff like that, but you need to stop thinking that you're irrelevant, because every single person is unique, every single person matters, and if you have a talent that you can actually share and sell into the world, you definitely should, and the internet is so great, I just wish more people would realize that. It's going to be slow. The internet is still a teenager. It's kind of crazy to think about; it's not even legal to drink yet. So it's going to get crazier. The question you were asking, was it easier to start an internet business six years ago? I think it's going to get easier and easier but there's going to be more and more competition so the sooner you do it and the sooner you get a following, whether you post 300 Instagram photos now, as opposed to 300 Instagram photos 3 years from now, now is much better because people will start to look back and see that you've been somebody. It takes a while to get students. Tim Grittani wasn't my first student, he's not my last student, but it took a while to find him. It takes a while to find your best customers, your best students, who will give you your best testimonials you need testimonials. I have a lot of tidbits. I can't do this with one tidbit. Become an expert, prove that you're an expert and then get testimonials showing that you're an expert from other people. Those are my three tips.

Jaime: I love it. I love that you said that we are just a teenager online. Everyone is like "Everything has already been done." Let's see what happens 20 years from now.

Tim: We're just starting. Wait until you see, I've got upsellonomics.com coming, where I'm going to teach blogging, I've got Envygram coming, where I'm going to destroy Instagram because Instagram doesn't take advantage like they should.

Jaime: You're insane!

Tim: I've got jewgreedy.com coming. Can you go to jewgreedy.com?

Jaime: How do you even spell jewgreedy.com?

Tim: jewgreedy.com. Look at this logo that I came up with.

Jaime: Alright, fine, I'll go there right now.

Tim: I just want to see your reaction.

Jaime: Oh no.

Tim: Look at the logo! I haven't blogged enough, this is in development, but I got the logo down.

Jaime: It's still loading.

Tim: I improved the Jewish star. What are you, on dialup? What is this?

Jaime: Jew?

Tim: Greedy.

Jaime: I did that.

Tim: I don't know. Maybe I haven't updated it.

Jaime: GoDaddy domain.

Tim: What?

Jaime: It shows a GoDaddy domain.

Tim: Did they take it off?

Jaime: I don't know. I don't see it.

Tim: We're working on the backend, but I just wanted to show you the logo.

Jaime: I wanted to see your crazy logo. You can send it to me after.

Tim: No! This is terrible! Oh my god, my team took it down. That really pisses me off.

Jaime: And this is live!

Tim: Whatever. I have 20 ways. We do a lot of stuff so this is coming, in development, too. Never stop having ideas, never stop trying to improve and just make people laugh and show your value. Those are my tips.

Jaime: I have so many more questions for you which I can't ask you right now.

Tim: We can do a part two, that's fine.

Jaime: We can do part two later. If you have so many projects going up, I know we were going to talk about Upsellonomics and we didn't get chance to talk about it so why don't you tell me, just quickly,what it is and who it's going to benefit?

Tim: Upsellonomics is basically just teaching people how to create these blogs that monetize, because you have a lot of blogs out there, people start blogging, it's a lot of work, they don't make enough money and then they just stop, so you have a lot of dormant blogs out there and I just hate that. it's very similar to trading if you go in with a plan and you stick to the plan and you refine the plan, because every industry is different, what works for me in stock trading isn't necessarily going to work for a private chef, but if you start testing and trying out, seeing what blog posts or videos or photos, because those are basically your three options right now, those three kinds of content, people respond to. Everything I do is tested. I have projects that fail sometimes. Jew Greedy doesn't seem like it's doing too well so far! But it's okay to fail as long as you keep testing, keep trying, and realizing that there are so many different potential businesses on the internet. You never really know which one is going to hit. I go in with the thought of giving real time alerts my customers actually gave me that idea, or my readers, which was fantastic. If you put up interesting stuff, get readers, and then try to formulate a business around what they want, that's even better than you going in, being like "I'm going to do this, this, this and this." So Upsellonomics is basically going to trace my experience as a blogger and give tips that I have learned to save time and money. I've wasted hundreds of thousands of dollars with bad projects, and time, no different than trading where I've lost hundreds of thousands of dollars. I'm trying to help people not make those same mistakes. Everyone is going to make mistakes but I can at least help reduce those mistakes because I'm self-taught, blogging and trading, and I just want to be the mentor to people that I never had.

Jaime: For Upsellonomics, does someone need to have a blog already?

Tim: No. It's everything that I've learned about the internet. Maybe a blog isn't even right for your business. Maybe you're going to get all your clients off Instagram or YouTube. There are different strategies that I use for every single social network and we're constantly refining them so it's very cool to see how we're doing better and better. We get our conversion ratios up, I think we tried one new test on YouTube the other day and conversions were up 72% just from the previous one. It was just awesome. If you're not into blogging you don't know what that means, but if you are?

Jaime: I want to know what that is! I'm going to have to ask you later.

Tim: If you have 10 people looking at one piece of content, we nearly doubled the amount of customers that we get out of that with one change. So there are a lot of changes and we can try to help you get to the optimum point so you can get the most customers, get the most readers, make people the happiest and that's what the internet is.

Jaime: I love that. I love that you're honest and real and swear a lot too.

Tim: I tried to be nice because you're a lady.

Jaime: I appreciate that. I don't know what it would have been otherwise. I really appreciate it, Tim, and I know this week, when we launch this video, Upsellonomics is probably going to be launching also, so everyone can check out that website.

Tim: And a video that's near and dear to my heart, this Lamborghini Gallardo song. We just realized it, it's the most obnoxious video you'll ever see you'll hate it but you'll love it and it should inspire you because I do have a quarter million dollar car and we shot it at my $5 million mansion. I show the stuff that I have to hopefully inspire you to want the same. Although I would not recommend getting a Lamborghini, my back fucking kills. I drive some of my poor friends? Jeeps and I'm like "This is comfortable!" even though no one stops and takes pictures. It all depends on what you want. I'm not even a car guy, I get nauseous going too fast, but it's fun to have one.

Jaime: I don't mean to laugh at you, I'm sorry. I want a Lamborghini, or at least I want one to play with.

Tim: You'll get more likes on Envygram!

Jaime: I'm definitely going to link to Upsellonomics and also the crazy video that I can't wait to see so we can laugh about how awesome and horrible it is at the same time. Thank you so much for coming on the show today, Tim. I really, really appreciate it.

Tim: Thanks for having me.

Jaime: I hope you enjoyed that interview with Timothy Sykes. I loved how he talked about, in the action item, that before and after picture, especially because if you can identify with the before picture then you know you can get to the after picture, which I think is huge. Andrew Warner, another millionaire I interviewed, really highlighted that too. If you're creating content, that's definitely a really amazing piece of advice. If you liked Timothy Sykes you can find him on YouTube, all about Timothy Sykes, if you look up his name you'll find tons of information. If you also want to check me out on YouTube, it's youtube.com/eventualmillion. Not only will you get the interviews with all of the millionaires that I've interviewed, you'll also get quick tips, 2-3 minute advice, so if you don't have a lot of time and you just want to implement something that's going to change your business now, go check those out too. I hope you enjoy them. take care!

Announcer: Thanks for listening. You can find out more great information like this on EventualMillionaire.com.

Tags: blog, blogging, business tips, investing, Investment, millionaire interview, stock trading, Timothy Sykes

Categories: All, Business, Business Model, Entrepreneurship, Millionaire Interviews

Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.

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