How I Make an Extra $2600 a Month
Hello there. Tim here.
Watch Everything, Everywhere, All At Once. I've never seen anything like it.
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1. How I Make an Extra $2600 a Month (Without Doing Any Extra Work)
There are a few golden opportunities I've missed in my entrepreneurial career.
For instance, I wish I started building my Sober Nation email list from day 1. I would probably have 300,000 subscribers by now.
I wish I started building my audience on Twitter and LinkedIn years ago. I can't even imagine how big I would be.
I'd like to add one more colossal missed opportunity to the list.
I wish I signed up for Sparkloop.app from the day it was launched.
In this email, I'm going to tell you why Sparkloop is so awesome and how it has increased my revenue for my newsletters.
What is Sparkloop?
Sparkloop is a software that does two things.
First, it helps you create a referral network (see the bottom of this newsletter for an example) where you give away prizes in exchange for people sharing your newsletter with their friends.
So if you send my newsletter to 10 people (using the links at the bottom), you will automatically get a 50% discount to The Copyblogger Academy.
You can customize your memberships so that you can create levels. Ideally, you want tiers where the rewards get better the more people share your newsletter.
It's great.
In addition, Sparkloop has a "partner program" that makes it SO EASY to monetize.
Simply put, you get paid for promoting other people's newsletters.
There are a few ways to do this, but my favorite way is called Upscribe.
How does Upscribe work?
When someone signs up for my newsletter, Sparkloop creates a pop up that gives my new subscribers the option to also sign up for other people's newsletters. It looks like this.
If the subscriber agrees to also sign up to the recommended publications, then I make money.
It's that simple.
On average, I make $4 for every subscriber I get.
Think about that, I GET PAID TO GROW MY OWN NEWSLETTER!
The best part is that I get to chose the other newsletters I recommend. I know the people who I am promoting and I completely vouch their work. So I feel great about the fact that I'm not selling my soul.
I make extra money for basically no work and in the process I am promoting my friends and offering more value to my subscribers.
Everyone wins.
How Much Money Are We Talking About?
Like I said, I am just getting started with Sparkloop, so the numbers haven't quite capped out yet. There is a delay because the newsletters I recommend get to set the terms on how long a subscriber must stay subscribed to their newsletter before it counts as a referral. This way, they don't have to pay me for subscribers who unsubscribe within a few minutes, which is fair.
I need to continue optimizing everything so I can get maximum revenue every month, but last month, I made an extra $2600.
That said, the numbers are skewed because I made a big mistake. About halfway through the month of February, I started recommending newsletters that have much stricter terms. In the graph above, the dark purple sections in the line graphs are the subscribers that I get paid on.
As soon as I started tinkering around with it, I cost myself a few thousand bucks.
From now on, I am only recommending my friends because although they pay less per subscriber, the terms are much more fair.
I didn't realize the mistake I made until after the fact.
At the End of the Day ...
I am getting paid to grow my business.
Usually, you have to pay to grow your newsletter. You'll have to run Facebook ads or sponsorships in other newsletters.
But with Sparkloop, I am literally making money by growing. It's crazy. I love this company so much.
I seriously hope you consider signing up for Sparkloop. The process to get the app connected is a bit tricky, but the support will walk you through the entire process.
Do it. You will not regret it.
Disclosure: I'm an investor in Sparkloop.
2. Creators, Brands, and Media Agencies
In this episode, I noticed a particular strategy that successful media agencies are using to get clients and get leads, so Ethan and I brainstormed how I could apply this to my own company.
Eventually, the conversation lead us to some fun places, including how brands struggle to connect to their audience the same way that individuals can.
Click here to listen to the full episode.
3. It's Time to Promote Your Brand
Guess what? You're reading promotional content in a newsletter. Sponsoring influencer newsletters, like this one, is a great way to reach engaged and targeted audiences. It will build your brand — whether that is your personal brand or your business.
So here is the deal. This newsletter is part of the ConvertKit Sponsor Network (CKSN), representing more than 100 individual newsletter creators. Sponsor my newsletter and gain access to many more.
Sponsor this Newsletter ❤️ CKSN
4. How to Create and Publish a Newsletter in 10 Minutes or Less
I recently discovered a great tool called Elink.
This tool allows me to create a newsletter with lightning speed. This is a perfect solution for some of my local media businesses that simply curate the most relevant articles and events, and then put all the important information in one easy to navigate email.
If you want to start a newsletter but don't have the bandwidth to spend hours writing each week, this is the perfect solution for you.
Check it out.
Click here to watch the full video.
Final Thought ...
5. You're Not Doing It Wrong
Last night, I bought a 99 cent book called "Digital Millionaire Secrets."
It's a quick read. I'm about halfway through it.
The book is about Dan Henry, and his story of becoming an overnight success. He created an education business and did $10,000,000 in sales in 3 years.
While reading it, I found myself second guessing my work.
"Why am I working so hard when I could just read this book and magically sell courses and make 10 million in 3 years?"
These books are designed to make you feel that way. They want you to think that you're doing it wrong and that you should do it their way instead.
Suddenly, I got a flash realization that I'm not doing it wrong. In fact, I am doing it perfectly.
My journey has been slow, but it has been meaningful.
I have built an 8 figure portfolio of assets that work for me and compound on themselves in value.
My mission was always to get rich slow. My mission was always to enjoy the process and enjoy the failures, successes, struggles, wins, and losses along the way.
Most importantly, I absolutely LOVE the people I get to work with. I am so incredibly lucky in that regard.
So look, I'm getting a lot out of the book. I will certainly apply some of the lessons I have learned to increase the sales of Agency Secrets.
But don't get it twisted. Dan Henry isn't better than me or you. Your journey is your journey.
Don't compare yourself or allow yourself to think you're doing it wrong, because you're doing it exactly the way you're supposed to.
So am I.
Love you guys. Talk to you next week.
Tim