Tim Stoddart's Newsletter

How to Create Multiple Income Streams

published8 months ago
5 min read

Hello. Tim here.

I don't understand why people purposefully decide not to drink coffee. Why would anyone do that?


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1. How to Create Multiple Streams of Income

If you want to be rich, you need multiple streams of income.

It's almost impossible to get wealthy by your salary alone. The good news is, with the right mindset and skills, you can use your salary to create investments that will generate wealth for you.

It's not too good to be true. It's simple economics. Once you see it, you will see it everywhere.

In this article, I will teach you how to create multiple streams of income.

2. Hidden Businesses Crushing it on YouTube and Insta

On this week’s episode, Ethan and I talk about entrepreneurs you’ve probably never heard of who are crushing it on YouTube and Instagram, showing you what you can use in your own business.

This was my favorite episode we've ever recorded. You will love it and I hope Miss Rachel gives you some inspiration.

Click here to listen on iTunes and click here to listen on Spotify.

P.S. - Show notes and full video are available here.

3. 15 Images Every Investor Needs to Memorize

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Brian Feroldi (🧠,📈)
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Twitter Logo
July 31st 2022

Passive investing is a subject matter that I am passionate about. The reason is because the vast majority of working class people stay out of the public markets because they don't understand them and they are afraid of them. But hoarding your money and not investing is the best way to stay broke.

I can vividly remember a conversation I had years ago. I was in the phone pit at one of the call centers I worked at. A guy named Dan was showing me his stocks and I told him about how my father lost a chunk of money that he invested into U.S. Airways after 9/11.

At the time, what my dad knew about investing was the same as everyone. "Buy low, sell high", right?

Buy low sell high is the worst investing advice you could ever listen to, because buy low sell high gives you the illusion that you know what low and high are.

After 9/11, many of the airlines went out of business, including U.S. Airways, which was where my Dad put his investment. However, the airline business as a whole got through it and continued to thrive and grow. So what does that tell you?

It tells you that no one knows anything.

I don't say that as hyperbole. I say it quite literally. No one, not a single person in this world, has any idea what the stock market is going to do. Everyone, even the worlds best experts in public investing, are guessing at best.

So what does that mean for you?

It means that your best option is to invest in the market as a whole as opposed to trying to pick stocks that are winners and bet against stocks that are losers. There's no point in doing it any other way, because over a long enough timeline, the market as a whole will always outperform individual stocks and funds

Here's what you do.

Create a weekly or monthly investment automation and then ignore it. Literally pretend like it doesn't exist. Every week, I invest $500 into the S&P 500 and I never look at it. You need to let compounding do the work.

If you automate your investing and hold onto it. You will outperform all of the investment experts.

It's a statistical certainty.

Ok, rant over. Click here to read the entire twitter thread. It's very important. And a quick shoutout to Brian Feroldi for his great work.

4. How to Create Digital Products (Bootstrapper Members Only)

Do you want to make $10,000 a month in “passive income?”
It’s more doable than people think.
$10,000 a month equals about $333 a day. If you have a digital product at $199, that means you only need to sell 1.67 products per day to make $10,000 every month.
This napkin math looks great. But how do you actually create a product that can get you to $10,000 per month?
We’ve talked about how to productize your services at a high level, so today we’re going to cover the nitty-gritty of how to actually create a digital product.
Let’s dive in…

P.S. - Sign up for The Bootstrapper here.

5. Why Marketing Agencies are Great Business Models

I've been getting a lot of feedback recently from people who want to start their own agencies.

I hope this video gives you even more clarity on why I think it's such a great idea. And also, feel free to DM me on Twitter if you want more guidance. I'm happy to help.

6. Jack Ma's Ant Sees Profits Fall 17%

The Chinese Communist party has been forcing Jack Ma to give up control of his company, and the regulatory environment is "helping" the people by distributing the wealth.

This is crazy.

For years, I've been arguing that The United States is still the best place to be and the best bet in regards to building a thriving economy and society. I've also been arguing that China is a bad bet. This is exactly why.

Investors will run from China. Why would anyone put money into a market that risks the government coming in and shutting it down?

This article is critically important to understand why (I think), long term, The States will continue to be the world's shinning beacon on a hill.

We're not perfect. (women's rights? ahem). But the process of destruction and self correcting that is embedded into our culture will prove once again to be the best system there is.

If autocrats can take Jack Ma's money, they can definitely take the people's money.

Lesson: Invest in America and contribute to the self correcting mechanisms that help us form a more perfect union.

7. 20 Call to Action Examples that Create Instant Leads

What are some winning call to action examples? Creating a strong call to action (CTA) is essential to turn visitors into leads, but how do you come up with the perfect one?

If you’re struggling to create a strong CTA, this framework will help you craft a unique CTA optimized for your business.

8. Dreams Without Goals


Seriously though, this is exactly why I'm confident in myself. It's not because I'm special. It's simply because I know that 99% of the people I compete against aren't willing to be consistent like I am.

That's all it takes.

Also, Denzel looks high AF in this video I love it. 🥬

9. Write Music

10. Final Thought - "Nice and Easy"

I was in Boston last week. As you know, Jules is still up there with our little man so that Juliana's parents can watch him while she gets through this intense semester of school work.

We spent a few days at my brother in-laws house. He lives in Sandwich, which is on Cape. (Did I say that right)?

For the few days we were there, I realized how exhausted I was. Something happened when I got there, and I gave myself permission to relax.

I sat out by the pool. I chilled in the hammock and read my book. I even took a nap. ME! A freakin nap!

I'm back in Nashville now and I am back in grind mode. Jules is in Boston for another 2 weeks and I am committed to keeping my routine in check and keeping myself in line so that when my family returns, they will come back to a home that is clean and inviting and they can fall right back into their own routines.

I feel good. That rest and relaxation was exactly what I needed. It felt good to be able to do nothing.

But guess what? Rest and relaxation time is over, and I am back to fucking shit up.

Love you guys. Talk to you next week.