Find your business model as a creator with Ali Abdaal
Sep 14, 2022
21:15
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Quick takeaways
Finding a product or service to sell that addresses audience needs is crucial for creators.
Having a cash-rich educational creator business allows for hiring talented individuals and implementing systems to scale the business.
Deep dives
Building a Legit Business from YouTube
Ali shares his journey of turning his YouTube channel into a legitimate business. He initially started as a hobby but realized the potential when he began monetizing his videos. As his channel grew, he hired team members and implemented systems to scale the business. Ali discusses the importance of having multiple revenue streams, with the majority of his income coming from selling courses and being an educational creator. He emphasizes the need for creators to find a product or service to sell that addresses their audience's needs and problems.
The Role of Money, Team, and Systems
Ali highlights three crucial elements that contributed to the growth and success of his business: money, team, and systems. With a cash-rich educational creator business, Ali was able to hire talented individuals without much financial constraint. This allowed him to delegate tasks and focus on strategic growth. He emphasizes the importance of having systems and processes in place to increase productivity and efficiency. However, he acknowledges the challenges of finding the right balance between systemization and flexibility.
The Importance of Continuous Growth and Adaptation
Ali discusses the perpetual need for growth and adaptation in the creator space. He explains how maintaining the same level of revenue and margins over time actually means being in a state of decline. To combat this, he believes in constantly exploring new revenue streams and platforms. Ali also emphasizes the importance of understanding the target audience and identifying their problems that can be solved through products or services. He encourages creators to engage with their audience to gain insights and ideas for content and potential offerings.
Ali Abdaal started YouTube in 2017. What began as a side-hustle is now a multi-million dollar business that generates $350,000 a month in revenue.
In today's episode of Creators On Air, Ali shares how he moved his business forward, his hiring process, how to find your business model, and why growth is important for any creatorpreneur.