CEO at Millionaire Media
Tim has built a $20 million / year online financial education business
Becoming An Expert And Backing Up Your Success
Tactic that has had the biggest impact on Timothy’s success
Becoming an expert and backing up your success.
Result if you follow the steps in Timothy’s session
Gain trust among your audience by being authentic and backing up your claims to expertise.
Full session with video, notes, audio and discussion inside EHQ Club. Learn more
Expert session snapshot
You know getting them over the hump getting them to study and then keeping that study because again 90% of traders lose money I have a few millionaire students but most of them aren’t going to become millionaires right away for whatever reason I mean there’s so many different ways to fail and training.
So I have to just keep them learning I have to really emphasize that this is a marathon not a sprint we created our own software called stocks to trade where people can basically practice training using like paper money like a fantasy stock market and that way you’re not risking losing anything they can practice and learn and get better that’s been a very good aid for keeping students on the path longer and it’s also beneficial for them it’s not just about keeping students.
I don’t want the most number of students my team and I have a kind of overwhelmed I also work with my parents kind of interesting over like birthday dinner as my mom is like can’t we just enjoy dinner so it’s good to be real but there are also issues with with scaling and you know trying to do the best that you can and provide the most value to your customers if I just got everybody in the door and then provide a no value they would just leave oh yeah consistent value is some opponent just thinking about you know so you’ve come from a successful trader and he decided to become a teacher and what did you you know do to first get started and with your own environment.
Yeah I was featured on this TV show called Wall Street warriors was basically a reality TV show I was drunk in every episode so I was funny and that separated me from the rest of the boring finance people and everyone sort of messaging me hey I wanna learn so I was like I mean how I’ll try to teach I had no idea I had no intention becoming a teacher but I thought that there might be based on the emails so I started the teaching business I’m very fortunate I’m kind of like Forrest Gump good things just seemed activity right when I got started in teaching there was a website called Co Bester that allowed you to verify your traits.
So they would tap in your brokerage account and basically see you know what you’re doing and I became the number one ranked trader at of 60,000 traders on Cove ester one by one most bloggers and most traders left the service because you can see that they weren’t that good and I proved myself with performance over several years for a small time period commiserate er got acquired and they changed the business model but when you’ve googled the word co-pastor Timothy Sykes would pop up first because I was I was shown like using them like oh my god I’m really who can see this I’m verified 60,000 other traders behind me and that was a big thing when okay I had a small TV audience that wanted to learn to trade but actually backing it up with performance that’s interesting because the are are a lot of teachers out there or maybe ship side owners who maybe aren’t the expert they aren’t the number one in the industry how like what would you say to people who maybe don’t feel that they have the ability to become you know number one in their industry and then therefore don’t necessarily feel that they have the right to be a teacher number one trader in the world I have a very small niche by trading penny stocks the vast majority of the world hates on these stocks.
So I’m a niche player but I also had a lot of experience before I started teaching you know I was trading for several years so and I knew the pains of not having a teacher so don’t feel like you have to be the best just feel like you have to actually be able to deliver value and expertise.
I would not recommend somewhere just starting up a membership site who has no expertise no knowledge and if you do don’t partner with somebody like who’s a better in the industry and kind of mold their knowledge mold their expertise into a product you need to deliver something whether you’re the best or you’re the second best or even just good just being real adds value you know there’s so many fingers especially with these membership sites and you know they think that there’s gonna last because people are gonna forget to cancel their memberships….