If I Wanted to Build a $5M Creator Business in 2024, I’d Do This | 033

In this episode, Nathan is joined by Ricky Zhang, the founder and CEO of Prince of Travel.

They delve into Ricky’s creator business and the specific strategies he can employ to scale it from $1.3 million to $5 million and beyond.

Tune in for an insightful conversation on effective revenue models, leadership in a growing team, and the incremental skill-building essential for business growth.

Timestamps:
00:00 Introduction
00:44 Revenue Breakdown
02:14 Advertising vs. Product Revenue
04:08 ROI on Creator Economy Attention
07:07 Growing Your Team
09:11 Creator Business Products
11:58 Skills Needed to Start a Business
14:13 Ladders of Wealth Creation
18:12 Skills Needed to Scale a Business
19:42 Leadership and Responsibility Challenges
22:29 Analyzing Competitors
26:24 Expanding the Market
28:47 Advice for Aspiring Creators

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Learn more about The Nathan Barry Show: https://nathanbarry.com/show 
Follow Nathan:
Instagram: https://www.instagram.com/nathanbarry/
LinkedIn: https://www.linkedin.com/in/nathanbarry/
Twitter: https://twitter.com/nathanbarry
Website: https://nathanbarry.com/

Follow Ricky:
Instagram: https://www.instagram.com/realricky/
LinkedIn: https://www.linkedin.com/in/realricky/
YouTube: https://www.youtube.com/@_Ricky
Website: https://princeoftravel.com/

Featured in this episode:
ConvertKit: https://convertkit.com/
Andrew Huberman: https://www.hubermanlab.com/
Tim Ferriss: https://tim.blog/
James Clear: https://jamesclear.com/
Ladders of Wealth Creation: https://nathanbarry.com/wealth-creation/
The Points Guy: https://thepointsguy.com/

Highlights:04:07 Creators are the best in the world at capturing attention
09:11 The Strip Mall vs. Skyscraper Approach
14:13 The ladders of wealth creation: a step-by-step guide to building wealth
20:48 Team leadership for introverts
30:00 You Today vs. You One Year Ago