Hey there. Tim here.
Yesterday was the first hard leg day I've had since my procedure. I'm walking like a baby giraffe.
This issue is brought to you by Ship30for30. Use discount code TIM at checkout for $100 off.
1. This is my Masterplan to be a Guest on The Diary of a CEO Podcast, with Steven Bartlett
At the gym on Tuesday, I discovered a new podcast. It's called The Diary of a CEO."
I gave the show a listen, and I loved it.
The host is Steven Bartlett. He's incredible.
He's thoughtful, calm, methodical, and a natural interviewer. He challenges his guests without being confrontational, while also allowing his guests space to think, process, and speak.
I don't know why, but when I was at the gym, I decided that I wanted to meet Steven and speak to him. His demeaner is very attractive and inviting, and I think I would benefit from having him in my life.
Here's my plan.
2. The Most Influential Writer You’ve Never Heard Of
On this week’s episode, Ethan Brooks and I talk about John Milius, the writer behind many of the most famous action movies of our generation.
We also explore the ideas of fame, cancel culture, and writing for the masses.
3. A Great Way to Find a Niche
If you want to be successful in business, then designing a niche for your company is a must.
Why? Because you need to find a way to separate yourself. It's better to be different than to be better.
If you don't find a niche, then you are blending in with the crowd and the masses. If that's the case, the only possible advantage you have over your competition is to be cheaper. In order to be cheap, you must commoditize.
As soon as you start trying to be the cheapest option, then you are setting yourself up for failure. Because no matter what you do, you will never be cheaper than Amazon, or The Huffington Post, or Buzzfeed.
You are racing to the bottom, and you will lose. There is only one winner in the race to the bottom. The best you can do is come in second, which is the worst place of all.
Many of you will struggle with this, because you will want to be unique and you will overthink it, but it doesn't have to be that serious. You can create a niche for yourself through a very simple thought exercise.
That is why I have highlighted Dickie's amazing framework. It will help you gain perspective on how you can position your business that will create space between you and the competition.
If you're getting started on your journey, and you're trying to find what it is that "makes you start out from the crowd", then study this graphic closely.
4. The Secret to Success is Shipping Your Work Daily
Today’s issue is brought to you by Ship 30 for 30 🚢
Writing online has changed my life. And for those looking to get started, I highly recommend Ship 30 for 30 from my friends Dickie Bush and Nicolas Cole – it's hands down the best writing course & community out there. Enrollment in the next cohort closes in 7 days, so click here to secure your spot and use code TIM at checkout to save $100.
And if you’re on the fence, just read these testimonials from their 5,619 successful alumni!
5. Success in 2 Words ... STAY SHARP
When people become successful, they stop doing the things that made them successful in the first place.
How many times have you seen the millionaire lose her focus and drive and end up losing her fortune because of partying and over indulgence?
How many times have you seen the athlete stop practicing and training and lose the grit and determination that won him the gold metal?
It's understandable. We work hard so that we have have success, and it's only natural for us to want to enjoy that success.
I refuse to let this happen to me and I want you to be aware of these pitfalls before it happens to you.
6. Finally ... Someone Said It
Santelli nails it here. The one guy on CNBC who really isn’t afraid to call out what is actually happening. 🔈 pic.twitter.com/LvHBOXla1F
September 23rd 2022
I'm not an economist, and so I usually steer clear of heated debates over spending, debt, and monetary theory. But, I am putting in this GLORIOUS video simply because I'm so relieved to finally hear someone tell the truth.
Modern monetary theory goes like this.
"You can print as much money as you want because there are goods and services available which will continue to create value behind the money. After all, money isn't a real thing, but rather a representation of goods and services."
There are lots of smart people that make the argument for modern monetary theory, except they all skip over one tiny little problem.
INFLATION!!! FUCKING INFLATION!!!! DUUURRRRRRRRRR.
It always reminds me of a Nasim Talab quote where he says, "it's easier to macro bullshit than to micro bullshit."
Because money only counts at a local level. At a macro level, money is just information, but at a local level, money is food and bread and heat. Money is rent and allowance.
This is why modern monetary theory will never work, because it doesn't account for the relationship between people, money, and scarcity, and their communities.
7. The Seven Keys to Writing a Better List Post
A lot of smart writers can’t stand list posts. What’s a list post? It’s also known as a numbered list post, or a (shudder) listicle, and it’s a post whose headline features a numbered collection of things.
This post, for example, is a list post.
There are an awful lot of crummy ones out there. The tabloid sites make frequent use of them (These 17 Celebrities Used to Be Hot, etc.). In fact, all of the CRaP blogs use them liberally.
So it’s natural that a quality-focused content writer (like you) might try to avoid that sort of bad writing. But that would be silly.
And here’s why:
8. We Talkin' Bout Practice
I remember when writing 1000 words was a daunting task. For the last year, I've been publishing 2500 word articles and 1800 word newsletters every week. As such, 1000 word articles are a breeze. I can't believe how much better I have gotten.
Reps and sets! Practice and improvement.
Wise words Les Brown. LFGOOO!!!
9. More Bad News for Real Estate Investors
Mortgage rates are spiking. A 30 year fixed mortgage just hit 6.87%. It's been 20 years since we've last seen rates this high.
Unless you are a cash buyer, it's only reasonable to think this will create an insane demand destruction in real estate.
What's different about mortgages is that when you pay your monthly mortgage bill, you're not paying the interest and the principle at the same time. It's not like 7% of your monthly payment pays off the interest and the other 93% pays off the loan itself.
No, the interest is put in the front half of the mortgage.
This is why buying homes with cash can be so powerful, because you own all the equity in the home as soon as you make the sale.
This is great for cash buyers, but terrible for aspiring home buyers and real estate entrepreneurs who want to leverage debt to build cash flowing assets.
Danny Baldus-Strauss simplifies the math for us.
This is madness.
10. Final Thought - "Put Your Name On the Door"
Last week, I had a reader reply to my newsletter.
The reader made the case that he likes my writing because I always speak from the stance of "sharing my experience", as opposed to "giving my opinion."
He's right. My entire strategy around creating content is "I have no advice to give, only experience to share."
This reader was turned off by last week's final thought, especially how I advocated that we become more appreciative of our current situation, and stop complaining about some of the temporary (but serious) financial problems in the country.
The last email he sent me was the one that I've been thinking about most. This reader said ...
When your name and your face are the company, "personal ethos" is the same thing as "brand positioning."
He's right. He's absolutely right.
I've been thinking about the values, and also the danger, of having an opinion or a strong belief and publishing that opinion through a brand. It's a slippery slope, because it becomes difficult to separate the autonomous business from the identity of me.
Funnily enough, the conversation came up again.
I've been working on a very large deal for Stodzy. It will be one of the biggest deals I ever close. I had a long zoom conversation with this gentleman. He saw my last name on zoom was Stoddart, and so at the end of the conversation he says "So I'm guessing you're Stodzy?"
And I said "Yes, I'm the guy."
He then said "I very much respect you're willingness to put your name on the door. It shows you take accountability for your work. I like that."
So what's the best practice?
I have a few thoughts.
First, I think I best serve my audience by continuing to abide by my ethos of sharing my experience, so that is a good reminder. I also think that it's important to say what I believe, and to have the courage to say it knowing that the likelihood for blowback is high.
No matter what, having my name on the door is one of the most important things I can do, because it shows the world that I am accountable for my actions.
So yes, I will continue to be mindful of what I say and who I say it to. I will continue to try my best to properly articulate my arguments with clarity, open mindedness, and poise.
But most of all, I will continue to stand in front of my work, and not behind it.
I go to bed every night feeling good about the fact that I have the courage to publish my work and to be judged in front of the masses. It's a huge advantage.
I wonder if you have the courage to do the same.
Love you guys.
Talk to you next week.