How Ali Abdaal makes $5,741,266.32 a year on YouTube

Added: Aug 15, 2023

Ali shares his journey from quitting his job as a doctor to becoming a full-time YouTuber. He explains that he initially started making YouTube videos to promote his physical courses on getting into medical school. However, he soon realized the potential of YouTube as a platform and decided to focus on creating content and selling online courses. The hosts delve into Ali's financials, looking at his revenue and expenses over the years. They discuss the significant growth he experienced from 2017 to 2022, with his revenue increasing from $2.27 to $4.6 million. They also highlight the importance of treating YouTube as a business and continuously learning about business management and operations. One of the key turning points for Ali was launching his online course, the YouTuber Academy. He shares how he initially priced the course at $400 but was encouraged by friends to increase the price to $2,000. The first cohort of the course generated $350,000 in revenue, exceeding his expectations. Since then, the course has become a significant source of income for Ali. The hosts also discuss the challenges and insecurities that come with selling high-priced courses. Ali admits to feeling guilty about selling and sometimes struggles with the perception of bragging. However, he believes that if people find value in what he offers, then the price is justified. They also touch on the importance of audience segmentation and targeting the right audience for high-priced courses. Ali's course is aimed at aspiring YouTubers who are serious about building a career on the platform. The hosts emphasize the need to understand the value of the course and the audience it serves. The conversation then shifts to the recent launch of Ali's final cohort of the YouTuber Academy, which resulted in a significant spike in revenue. They discuss the pricing tiers and the level of support and mentorship provided to students. Ali acknowledges the time-intensive nature of this business model but sees the potential for growth and scalability. The hosts reflect on their own journey and the challenges they face in pricing their own course. They discuss the need to overcome insecurities and recognize the value they provide to their audience. They also consider the benefits of cohort-based learning and the importance of customer service in this type of business. Ali acknowledges the potential pitfalls of relying solely on the advertising business for revenue. He highlights the challenges faced by creators who become overly reliant on advertising and emphasizes the importance of diversifying income streams. While he acknowledges that advertising can be lucrative, he also recognizes the risks associated with it. The discussion then shifts to the impact of Ali's story on the medical profession. Ali shares that his decision to leave medicine has inspired some medical students to consider alternative career paths, while others view him negatively for encouraging others to leave the profession. He believes that those who are inspired to leave medicine may not be the best fit for the profession, and he envisions a healthcare system where doctors are genuinely passionate about their work. Ali also reflects on the financial aspect of being a doctor, noting that in the UK, doctors do not make as much money as people may think. He mentions that many doctors in the UK earn around £40,000 per year, with only a few earning significantly more in private practice. He highlights the recent strike by doctors in the UK who were campaigning for higher wages. The conversation then turns to Ali's decision to leave medicine and the impact it had on his family, particularly his mother. Ali explains that his mother was aware of his intention to take a break from medicine, but she still had concerns about his future. He acknowledges the importance of stability and low risk in his family's mindset, and he hopes to alleviate their worries by demonstrating that he can be successful outside of medicine. Ali then discusses his upcoming book, titled "Feel Good Productivity," which focuses on how to do more of what matters in an enjoyable and sustainable way. He shares that he has been working on the book for the past two and a half years and recently made the final changes to the copy. He sees the book as a way to establish a premium brand and create timeless work that can have a lasting impact on readers. The conversation delves into the concept of longevity and building a brand in the thought leadership space. Ali shares his thoughts on how scarcity and timeless work can contribute to longevity and a premium brand. He believes that becoming more scarce and creating timeless content, such as books, can help establish a brand that lasts. Ali also discusses his views on financial freedom and legacy. He expresses that he does not have a specific monetary goal in mind for feeling financially free, as he believes he will always have a sense of scarcity when it comes to money. He emphasizes the importance of profitability, having fun, and ensuring customer satisfaction as the key factors for success. In conclusion, this podcast episode provides insights into Ali Abdaal's journey as a successful YouTuber and entrepreneur. It explores the challenges of relying on the advertising business, the impact of his story on the medical profession, the process of writing a book, and the importance of longevity and timeless work in building a brand. Ali's experiences and perspectives offer valuable lessons for aspiring creators and entrepreneurs in the online space.