Tim Sykes net worth: Timothy Sykes is a penny stock trader and teacher with an estimated net worth of $17 million.
Tim beats his story to death, so I’m sure you know it by now: turned $12k in bar mitzvah money into $1.65 million, by 21 years old, day trading penny stocks. Today, that number has risen to $4.37 million.
In his 18 year trading career, Sykes has done it all: started a hedge fund; starred in a TV documentary called Wall Street Warriors (where I first saw him!); published books, newsletters, and DVDs; founded Profit.ly and Investimonials.com; been seen all over major media; became the #1 ranked trader on Covestor (out of more than 60,000); and grown his Timothy Sykes brand, blog, and social media channels exponentially.
While Tim Sykes now has many income streams, the majority of his wealth comes from education – selling the how-to via digital products, coaching, and mentoring. Sykes aggressively promotes these paid programs by relentlessly referencing his three millionaire students and the dozens of six figure earners that have previously enrolled.
The “Millionaire Challenge” appears to be his single greatest source of income at the time of writing this.
So now that you know Timothy Sykes is stupid-rich, what can you learn from the eccentric penny-stock-preneur? I’ll go first.
Tim Sykes net worth lessons
No paradox of practice
Most online millionaires we feature here on Millyuns are info marketers. They master a skill, build a big following, then sell their expertise by packaging it into eBooks, courses, coaching, workshops, and live events.
There are three reasons why this is so appealing and effective: (1) Very low overhead; (2) Leverage: you create the product or experience once, but sell it hundreds, even thousands of times; (3) When the skill is in-demand and can make you money, you can charge a lot for it.
Altogether, selling information on the internet is the fastest and easiest way to scale to seven figures and beyond.
And because it’s so explosive, the guru almost always ends up making more from teaching than from doing. Which pisses off a lot of people.
Here’s my two, um, pennies (see what I did there?): as long as what’s being sold works and the person selling the how-to still practices what they preach? I could care less.
Is the bulk of Tim’s eight figure net worth from education? Yep. But he walks the walk. Sykes still trades penny stocks to this day and documents those trades for the public to see. If you plan on creating a multimillion dollar internet publishing business, and want it to last, you better live it.
Direct response marketing
Timothy Sykes is successful for a number of reasons. He’s edgy, interesting, knows his stuff, networks like a mofo, etc. But the number one reason he kills it, in my opinion, is that he’s just really damn good at marketing.
Not just any marketing – direct response marketing. Meaning, promotion that asks for a specific, measurable, time-sensitive response from the audience.
Think infomercials: call the 800 number on the screen within the next 15-minutes and get X, Y, and Z – free! But hurry! Only 23 remain!
This works because you reward people for taking immediate action. The top internet marketers do the same thing, only with squeeze pages and emails and webinars and sales letters and bright yellow Buy Now buttons.
And then there’s Tim Sykes who does this better than anyone in the game. I’m serious. If you never buy anything from the man, but spent just 10-minutes a day studying his website? You’d know the formula for rapidly turning ice cold traffic into warm leads… and warm leads into buyers and brand advocates.
He’s a master marketer. It’s nearly impossible to visit his site and not get lured in to an email newsletter or find yourself applying to his Trading Challenge.
Pay attention to the copywriting, the layout, the clear calls to action, the ease of use, the social proof, and all the different ways you can become a lead and then a customer.
Tim Sykes has built a fortune monetizing his passion for penny stocks. Yes, he’s loud and outspoken and pushes the envelope with pictures and videos of cash, cars, mansions, and models. (In fact, I think Tai Lopez might’ve learned a few things from Tim.)
But I’m not telling you to be Timothy Sykes; I’m telling you to learn from him and apply it in a way that’s consistent with your own personality and value system.
PS, tell me that car’s not sexy. After I hit my own net worth goal, I’m treating myself to a baby blue Lamborghini Huracan.