Following the success of his cohort-based course, Ali created an inner circle community for alumni students to stay in touch, collaborate, and provide ongoing support.
He charges $50/m, and has 124 members.
That's a total of $1,362,000 across 6 revenue streams that are all interconnected.
What can creators learn from Ali?
Here are a few lessons:
The Secret to 100,000+ Subscribers:
Ali guarantee's this simple formula will change your life...
1. Create content that your audience finds valuable 2. Publish 1-2 times per week 3. Do this for 2 years
π§βπ» Work = Provide value.
π Luck = Make your own luck through consistency.
βοΈ Unfair advantages = leverage your unique experiences, skills, and perspective.
Work:
Be consistently good. Figure out what resonates with your audience. Be entertaining. Be insightful. Iterate.
Ali has continued to improve his production quality and storytelling skills, and it shows.
There is no shortcut to providing value.
Luck:
@garyvee once said, "one piece of content can change your life."
Ali creates luck by posting 2 vids/week consistently over 3 years β and he's had multiple videos go viral.
Find a product for your audience, not an audience for your product.
Ali's PTYA course only exists because of his own lessons building a successful YT channel. The inner-circle product only came about by listening to his PTYA customers.
The majority of Ali's audience are not a good fit for his cohort-based course. But a segment of his audience is willing to pay a premium price to learn from him.
Ali sells products at low as $5 and high as $1k+.
Relentlessly focus on one channel:
Ali now has 6 income streams, a blog, a newsletter, and a podcast (@noverthinking).
But he spent years creating hundreds of YT vids first, it's still his primary channel. Most of his success can be derived from his YT channel.
Become an overnight success in 14 years:
Ali started working on the internet at age 12. He's now 26.
He spent years creating multiple online businesses that all failed.
His first taste of success took years to come by.
More on that here:
Find what feels like play to you but work to others:
Ali persevered for years before finding success. Most people would have quit many times along the way. He was able to keep going because he genuinely enjoyed the journey.
Hat tip to @AliAbdaal for being so transparent and vulnerable. π
Sharing insight into your business takes balls, but is so inspiring to new and old creators. There's nothing like seeing real people share real numbers.
Watch the full video here:
If you enjoyed this thread and want to learn more about the Creator Economy space:
1. Follow me @ryangum 2. Subscribe to my upcoming posts for more insights: ryangum.com
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10 pieces of advice to the 254 members of the Feb cohort of @dickiebush's Ship 30 for 30, from an alumni member.
This advice also applies to any creator π§΅π
Your only goal is to hit publish. Don't worry about likes, followers, or subscribers. If all you do is write 30 atomic essays, you've done what 99% of the world never has, and proven something to yourself that you probably thought impossible. You've won. Anything else is a bonus.
Some days will more be difficult than others. Remove distractions. Put your phone in the other room. Use apps that block distracting websites (I use SelfControl app on mac). Turn on Do Not Disturb mode. If all else fails, go for a walk. You will push through it.
Dropbox, Zappos, Airbnb, Groupon, and Twitter π§΅π
The Dropbox MVP was a video that showed how the product WOULD work (they hadn't built it yet). Drew Houston posted it to Hacker News (yes, comments were skeptical) and captured 70k+ emails overnight.
The Zappos MVP was a fake e-commerce store. Nick Swinmurn took photos of shoes from his local mall and uploaded them to a website. When a customer purchased, he went back to the store, bought the shoes, and sent them to the customer.
56 creators made over $1,000,000
823 creators made over $100,000
What do the top course creators have in common? π§΅π
π£ They share what they know for free.
They spend countless hours creating free content and demonstrating value to establish domain authority, credibility, and earn trust.
π They focus relentlessly on the student experience.
They create raving fans who won't shut up about their course. Satisfied students don't recommend courses, transformed ones do. Student referrals become one of their best marketing channels.
Common sentiment is that "audience-first" is the correct approach:
Create content, gain attention, build something for your new audience, sell it, and celebrate your new found success.
But if you're starting from scratch today, is that your only path? π§΅π
Audience-first: Build an audience before building a product.
Product-first: Build a product before building an audience.
But there's another option that can give you even better results:
At @teachable, we help creators measure completion rates.
But completion rates are a proxy metric at best. Track them if you want, but don't let them trick you into thinking students are getting value π§΅π
Hypothetical 1:
As a student, would you rather consume 100% of a course, or complete 30% of it but find an idea that helps you achieve your goal faster?
Hypothetical 2:
As a course creator, would you rather have 100% of your students complete your course, or have 100% of students actually apply the learnings they got from the course, regardless of their completion rate?
I'm confident you'd pick the latter in both cases.
If youβre building products for creators, youβll eventually need to generate revenue. VC money or not.
Get familiar with the most common monetization models π§΅π
π€ Share of earnings
β Aligns incentives between creator & platform.
β Harder to monetize creators with low sales.
β Creates a graduation problem (successful creators are incentivized to leave).
β Platforms negotiate special contracts for top earners to solve this.