How I Earned Millions Doller - Ali Abdaal
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If I Wanted to Be a Millionaire Before 30, I'd Do This : https://dai.ly/x931gzm
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How to Go From $0 to $10,000 a Month in 4 Steps : https://dai.ly/x931kb6
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How to 10x Your Income The 4 Ladders of Wealth : https://dai.ly/x931ldm
Why You Feel Lost in Life by Ali Abdaal : https://dai.ly/x933252
How to Figure Out What You Really Want in Life : https://dai.ly/x933hm8
How to Change your Life in a Year - 3 Simple Ideas : https://dai.ly/x933u78
dailymotion.com/arshian
How to guarantee you regret your life:https : //dai.ly/x93180y
My honest advice to a perfectionist:https : //dai.ly/x9319i4
My honest advice to someone who’s doing too much : https://dai.ly/x9319ty
My honest advice to someone who feels behind in life : https://dai.ly/x931a78
My honest advice to someone who wants financial freedom : https://dai.ly/x931ex2
If I Wanted to Be a Millionaire Before 30, I'd Do This : https://dai.ly/x931gzm
The Best Book I've Ever Read about Making Money : https://dai.ly/x931j9y
How to Go From $0 to $10,000 a Month in 4 Steps : https://dai.ly/x931kb6
How to Make $10,000 Month Writing Online : https://dai.ly/x931l42
How to 10x Your Income The 4 Ladders of Wealth : https://dai.ly/x931ldm
Why You Feel Lost in Life by Ali Abdaal : https://dai.ly/x933252
How to Figure Out What You Really Want in Life : https://dai.ly/x933hm8
How to Change your Life in a Year - 3 Simple Ideas : https://dai.ly/x933u78
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LearningTranscript
00:00So people always seem to wonder how much money YouTubers actually make which is why in this
00:03video I'm going to break down my 12 different streams of income across the last six years of
00:07this journey of being a YouTuber. If you're new here my name is Ali and I used to work as a doctor
00:11in the UK's National Health Service but three years into doing this YouTube channel thing
00:15things started to take off and so I decided that I was going to take a break from medicine and
00:19explore this internet career more as a full-time thing. And in the last six years now it's been an
00:23absolutely wild journey that has completely changed my life and so on this channel I'd
00:27like to share as much of the behind-the-scenes stuff as possible. Now I do these videos every
00:30year where I document the business revenue and our costs and like the ups and downs and the
00:34failures and lessons learned along the way but I want to give the usual caveat that nothing in
00:37this video is intended to be a flex and since starting to do these videos where I've been super
00:40candid about the numbers I've had hundreds of messages from people who've been inspired by
00:44some way through this sort of thing. And as I break down what this has looked like over the
00:48last six years you'll hopefully see that this is by no means an overnight success story. So
00:52essentially for each of these 12 income streams I'm going to show you how it's changed from 2017
00:57through 2022 i.e the last six years. I'm going to start with some context around how this thing
01:01actually makes money and how you can potentially get started with it if you want. Income stream
01:04number one YouTube AdSense. So Google has this program called AdSense which is how most YouTubers
01:09make the bulk of their money and that's essentially those 5, 10, 15, 30 second ads that you see before
01:14videos. Now generally an advertiser will pay Google to display that particular ad and then depending
01:18on essentially how many people are bidding for that ad that dictates what the price of that
01:22particular ad is. And so YouTube is getting a certain amount of money from advertisers for
01:26displaying those ads and they do a 45-55% cut. So 55% of what they get paid by the advertiser
01:32gets paid out to the creator. And essentially what that means is that anytime you watch or even skip
01:36one of those ads then the YouTuber who the video that ad is playing on gets paid a certain amount
01:41of money. So what is that amount of money? Well it varies massive amount depending on what kind
01:45of niche you're in, depending on what country you're in, and it all comes into this number
01:49called RPM which is revenue per meal which is revenue per 1,000 views. So how much is that
01:54revenue? Well it really depends on how much advertisers actually want to bid on a particular
01:58channel or a particular topic. So for example if you're a finance channel your revenue your RPMs
02:02are very high because finance companies are bidding on ads on those channels and finance
02:06companies have loads of money. But if for example you do content aimed at students or you do content
02:11mostly aimed at people in countries where the purchasing power is not great then the revenue
02:16per meal the RPM goes way down. So across the last six years on YouTube this is what my own RPM has
02:20looked like. So I first got monetized in around April 2018 and at the time I was making 70p which
02:25is about one dollar ish per thousand views. But we can see that over time as the channel has grown
02:31it kind of dips it goes up and down and then towards the end of 2020 we were getting to the
02:35three pound level of RPM which is great that means I'm getting three pounds or three dollar fifty ish
02:40for every thousand views on the channel. But we can see that around about April May 2021 we we've
02:45got this big spike. A that spike was probably driven by the pandemic where loads more people
02:49are online but I think also that spike was driven by that was when I started making vaguely financial
02:54themed content. And so the handful of videos that I have about passive income or about investing and
02:58stuff are massively skewing the RPMs for the channel as a whole and we can see that these
03:02days the RPM is around about six pounds seven pounds per thousand views. So for every thousand
03:07views we get on this channel the channel will make around six or seven pounds. Now if you want
03:10to be eligible for this money you have to join the YouTube Partner Program which is essentially when
03:14YouTube starts paying you for the ads that they display on your videos. But to join the Partner
03:18Program you need to have at least 1,000 subscribers and 4,000 hours of watch time. So if you get one
03:24viral video and then loads people watch that video it's easy enough to hit monetization but a lot of
03:27creators will spend ages months if not years sometimes struggling to get to that 1,000
03:32subscriber or 4,000 hours watch time milestone so that they can actually become monetized and
03:37start earning money from YouTube. So looking at our stats in 2017 I made a grand total of two dollars
03:42and 27 cents off of the YouTube AdSense program. This was mostly because this was pre-monetization.
03:47In April 2018 that was when we got monetized and the channel made 16,459 dollars in AdSense that
03:53year. And just for a bit of context in 2017 I started the channel with zero subscribers. That
03:57year I made 65 videos and in 65 videos the channel grew to 1,600 subscribers. Yeah. And then in 2018
04:04half of that year I was still in medical school and the other half of the year I started working
04:07as a doctor. In 2018 I made 85 videos and the channel grew to 125,000 subscribers. For all of
04:132019 I was working full-time as a doctor so that year I made 64 videos. The channel grew to 487,000
04:20subscribers and in total we made 42,385 dollars in YouTube ads. In 2020 I was working most of the year
04:26as a doctor. This was pandemic times but then the final four months of the year that was when I took
04:30a break from medicine. And so that year I made 104 videos including five shorts. And in 2020 the channel
04:35absolutely exploded and grew from 487,000 subscribers in 2019 to 1.32 million in 2020. And this was
04:42almost certainly the pandemic effect as well where loads of people were online because well it was the
04:46pandemic. And that meant that our total AdSense revenue for 2020 was 129,262 dollars. And then we
04:52came to 2021 and this was my first I guess full year as a full-time YouTuber although even then I
04:56was only kind of doing the YouTube channel part-time and working on a bunch of other business
05:00stuff. But that year we managed to publish 86 videos and 12 shorts. The channel grew to 2.5
05:04million subscribers and in 2021 our total AdSense revenue was 464,552 dollars. And then we come to
05:12this year 2022. So this year we've only managed to make 58 videos which is on average just over
05:16one video a week and also 25 shorts. The channel has grown to 3.6 million subscribers which is
05:21pretty cool. And this year we've done around 653,299 dollars in terms of YouTube AdSense.
05:27This has mostly been driven by just a handful of videos like passive income ideas and how to invest
05:32and videos about making websites where it seems that videos about finance and also about websites
05:36are the ones that have the most advertisers bidding on them. And so these videos can make a
05:39stupidly enormous amount of revenue just off a single video alone. And I think what's cool about
05:43that is for example if we look at this video this nine passive income ideas video which is a video
05:47I made I think a year ago a year and a half ago in total this has done 164,500 pounds in revenue
05:54which is just absolutely insane. Similarly I did a video about how to invest for beginners a 29
05:58minute long video where I just broke down how to get started with investing in stocks and shares
06:01and what that process looks like. And again that video alone has done over 100,000 pounds in revenue
06:06just for that video. And if we look at this page over here these top three videos passive income
06:10ideas how to invest for beginners and how to build a website in 2022 just these three videos account
06:15for a third of all of the revenue that this YouTube channel has made across like 510 videos.
06:19But also I think it speaks to the power of choosing your niche. Like if I were starting a YouTube
06:24channel today completely from scratch I would probably choose something in the finance or
06:27business niche because I would need to get like less than 10 times fewer views to get the same
06:32amount of money. And so that kind of sensible decision making would feed into my into into my
06:37strategy for a YouTube channel. Income stream number two Amazon associates. Okay so now we're
06:41getting into ways of monetizing off of YouTube and actually most of these other income streams
06:45that we're going to talk about are ways to monetize not directly on YouTube itself. And Amazon
06:48associates is the world's largest affiliate program. Essentially the idea is that you can be
06:52a YouTuber of any size in fact you can be basically anyone and you can sign up for an Amazon associates
06:57account. Now what this means is that you sign up for an account with Amazon you give them your
07:00details all this kind of stuff and what that means is that if you're sharing links to Amazon product
07:04pages let's say you make a video recommending some books and you put links to the books in the video
07:07description which is something that I do quite a lot you can tag those links with your special
07:11Amazon associates id. That means that anytime someone makes a purchase of one of those products
07:15through your link you will earn some percentage of that sale from Amazon. So it might be 0.1 it
07:20might be one percent it might be two percent it's like small numbers like that. But if you're selling
07:24particularly high value stuff like a camera gear that costs thousands of dollars or you just have
07:28a huge audience and you're able to sell lots of stuff through Amazon affiliate links these numbers
07:33can add up slowly over time. So in 2017 I made a grand total of zero dollars from Amazon associates
07:38but in 2018 I managed to make $548. In 2019 we made $1,554. In 2020 we made $7,194.
07:47In 2021 we made $29,886 and this year in 2022 we made $44,163 off of Amazon associates.
07:55Now interestingly these were the links that drove the most traffic so I had a video about my
07:59evidence-based skincare routine earlier this year which seemed to remarkably go viral and in that
08:03in that video we had links to like a moisturizer and a face cream and stuff like that
08:07and in that video I was not being sponsored by those companies by CeraVe or Altruist or anything
08:11at all I just mentioned the products because I like them and we put Amazon affiliate links in
08:15the video description so that when clearly 1,282 people-ish clicked on those links and they bought
08:20those products and so that generated some amount of money for us like one percent of the sale price
08:25of that of the item which would have been about around seven cents but if enough people order
08:28that then it becomes somewhat interesting amounts of money. So essentially anytime I mention a book
08:32or a product in these videos which is very often we'll always put an Amazon affiliate link in the
08:36video description and enough of those like little trickles of income from Amazon add up to get these
08:40numbers and so with income stream number two out of the way our cumulative total for 2022 revenue is
08:45$697,462 so far. Income stream number three affiliate income. Okay so we've talked about how
08:51Amazon associates is one way of doing affiliate income i.e where someone buys something from a
08:55link and you get some percentage of that sale but actually a lot of YouTubers monetize through
08:59alternative affiliate programs as well. Now these tend to be deals that you would negotiate on your
09:04own so for example I have deals with around 10 different companies that I use for various things
09:08and so either they'll have an affiliate program built in or I'll email them and be like hey I would
09:12love to promote you because I'd use you already like do you have an affiliate program? So something
09:15like Epidemic Sound which is the service that I've been using since 2017 and paying $15 a month for
09:20since 2017 to get background music royalty-free background music for this channel. We have an
09:24Epidemic Sound affiliate link which is always in the video description and if someone signs up to
09:28a trial we'll earn a certain amount of money from Epidemic Sound. Similarly there's a website
09:31hosting platform called Ghost which I've been using since 2016 so for the last seven years now
09:36I've been hosting my website on Ghost. We have an affiliate deal with Ghost where if someone signs
09:39up with my link then we'll get some recurring commission based on that. Similarly physical
09:43products like I have an affiliate link for this keyboard that I use quite often. I've got an
09:46affiliate link for the Paperlike screen protector which is the screen protector I have on my iPad
09:49and so these things aren't like traditional sponsorships which we're going to talk about in
09:52a sec where a company pays you to present an ad in the video. It's more like if you recommend the
09:57product and you put the link in the video description and then if someone happens to buy
10:00the link then then you'll get some percentage of that sale. Now the thing with Amazon Associates
10:04is that those percentages are usually quite small but if you're speaking to a company directly and
10:08if they like you and you have a good relationship with them you can get for example instead of one
10:12or two percent affiliate commissions you can get 10 or 20 or 30 or even 50 affiliate commissions
10:17and so that makes affiliate income one of the larger sources of income for a lot of YouTubers
10:20that I know. And the cool thing about affiliate income and Amazon Associates as well is that you
10:24don't need a certain audience size to start making money from them and usually what I recommend to
10:28people because I teach people in my part-time YouTuber academy more on that later is that you
10:31might as well sign up for Amazon Associates from day one because even if you have like 10 views on
10:35one of your videos and you mention a book and if someone buys that book it's just kind of nice to
10:39know that you've earned like five or six cents from that someone buying your book and it fuels
10:43the fire of motivation to keep continuing with this stuff. So I've been using these affiliate
10:46links since day one on my channel where no one was watching any of my videos because I knew that hey
10:51at some point it'll be nice to earn a few dollars here and there even if it's not very much. Anyway
10:55when it comes to affiliate income these are what the numbers look like for our channel. So in 2017
10:59made a grand total of nothing from affiliate income because that was my first year of building up, I
11:04didn't really know you could do this, I didn't really have any relationships with existing
11:07companies. In 2018 we also made absolutely nothing from affiliate income other than Amazon Associates.
11:11In 2019 things started to get interesting and that year we made $37,561 from affiliate income
11:18and I think that was mostly through the paper-like screen protector for the iPad. Now that was pretty
11:22sick because at the time that was almost exactly how much money I was earning working full-time as
11:26a doctor in the UK's National Health Service around about $37,000-$38,000 and so the fact
11:30that this YouTube channel was able to earn that much money essentially through me plugging an
11:34iPad screen protector which I still use on my iPad to this day completely blew my mind and that was
11:38one of the things that made me realize hang on I've been doing this YouTube thing for three years now
11:42maybe maybe this is actually going somewhere maybe there is something here where it could
11:46turn into a viable stream of income even outside of my day job as a doctor. Anyway in 2020 we did
11:51$162,859 in terms of affiliate income. In 2021 that number was $178,315 and this year in 2022
12:00that number is going to be round about $235,665 from affiliate income and the cool thing about
12:06affiliate income as well is that it's very non-arduous like I have all these different
12:10deals with all these companies but it's not like they're giving me deadlines and saying you have to
12:13mention this in a sponsored video which is what sponsorships are like more on that in a sec and
12:16it's just like hey whenever it makes sense to mention a product we'll just happen to put the
12:20affiliate link in the video description so it's very natural it's very easy I really like doing
12:23affiliate deals and I kind of prefer them compared to sponsorship deals because sponsorship deals are
12:27a little bit more arduous but anyway so far from these three income streams that means our total
12:31revenue for this year is $933,127. By the way if you're enjoying this breakdown so far I would love
12:37it if you can smash the like button for the YouTube algorithm apparently it really helps.
12:40Income stream number four YouTube sponsorships. Okay so now we're getting into interesting
12:44territory because YouTube sponsorships for bigger YouTubers can often be a far bigger source of
12:48income than YouTube AdSense itself. Now you've almost certainly come across YouTube sponsorships
12:52if you have spent any amount of time on YouTube at all this is where a creator might say that
12:56this video for example is sponsored by Skillshare more on those a little bit later or NordVPN or
13:00Squarespace or any of these other companies that do lots of YouTube sponsorships and essentially
13:04the idea there is that the creator is being paid to say a kind of ad somewhere in the middle of the
13:10video or at the end of the video or sometimes even at the start of the video although that's kind of
13:13annoying I try and avoid those ones and this is where things can get a little bit dodgy because
13:17as a creator you're very much incentivized to take on these sponsorship deals because a company's
13:21paying you money to say something but then you know depending on the creator people have different
13:24levels of integrity I for example don't get sponsored by companies that I don't use and so
13:28we've been offered so many different sponsorships they all they come in literally every single day
13:32but I always say if I'm not already using the thing then we're not going to get sponsored by them
13:35if they're offering a large amount of money I will often try out the thing and see is it a thing
13:39that I'm going to actually start using if the answer is yes and six months later I actually
13:42have been using it consistently then we'll say yes to the sponsorship but if the answer is no
13:46then it's just it's just not worth it I've been offered things in the past where I've been like
13:50filming stuff and being like oh I'm promoting a product I don't actually use oh this feels really
13:54bad um and I'm I'm I'm pleased to say that in those decisions I decided to cancel the sponsorship
13:59rather than plug a product that I didn't actually use anyway all that virtue signaling aside this is
14:03a huge source of income for a lot of youtubers and it's hard to like it's it's quite opaque in
14:08the industry depending like like how much money youtubers or creators would actually get paid for
14:11these sponsorships one number that a lot of people throw out is around about $15 CPM i.e. per
14:17thousand views so if you look at your last 10 videos you take an average of view counts on those
14:21let's say you got 100,000 views with a $15 CPM i.e. $15 per thousand views you're there therefore
14:27getting $1,500 for the 100,000 views that your channel is averaging that's just one way of
14:31valuing sponsorships some companies have higher CPM some have lower CPMs that kind of thing some
14:35companies won't even base their things on CPMs at all so for example if Google or Facebook are
14:39sponsoring videos for them it's a lot more about like brand awareness and brand association rather
14:44than how many eyeballs did we get on our particular ad alternatively some companies might instead value
14:48their sponsorship offers based on the conversions and so generally like let's say you go on my
14:53special link to Skillshare depending on how many people click on that special link for Skillshare
14:57Skillshare will track the data behind the scenes and they'll say to me next time around be like hey
15:01your link performed really well uh we're gonna up your rate or in a lot of cases your link didn't
15:06perform very well we're going to like decrease your rate and you end up in this sort of negotiation
15:11type thing where you're like playing around with this idea of views and brand awareness and like
15:16conversions and all of these different factors go into valuing the sponsorship stuff and this is
15:20where agencies can come in quite handy like for example we're part of an agency right now it's
15:24called 16th it's great and so they handle a bunch of our sponsorship deals but also we've been doing
15:27this stuff for quite a while so now we have a pretty good idea of what our channel is worth in
15:31terms of sponsorships i'm not going to give you the exact numbers but maybe if you want you can
15:34reverse engineer it from some of the stats but anyway in 2017 made a grand total of zero dollars
15:38from sponsored content and 2018 that were like i think when i had around about 80 000 subscribers
15:44that was when we got our first sponsorship deal i remember we had one deal from Primark and another
15:48and another deal from Rosetta Stone in 2018 which was pretty sick we also had three deals with with
15:53with these three other companies but then the marketing company that was representing them
15:56went bust so i never got the money but anyway uh in 2018 uh the money that hit our account was uh
16:01$7,609 from sponsorships in 2019 that number was $39,721 in 2020 that number went up to $174,583
16:11from sponsorships in 2021 that number was $440,000 from sponsorships and this year in 2022 that
16:17number was $598,744 ish dollars from sponsorships now i'm saying ish for this year because there is
16:25some level of uncertainty in these numbers firstly because of gbp to usd dollar conversion rates we've
16:31used the average like for each of these years like the money that actually hit our account was based
16:35in pounds because i'm in the uk and everything is in pounds but the reason i'm saying it in dollars
16:38is because dollars is more of an internationally recognized currency and only like 10 of the people
16:42that watch this channel are from the uk and generally people outside the uk don't have an
16:46intrinsic idea of what their own currency to gbp conversion is but they tend to have more of an
16:51idea of what their own country to usd conversion is firstly secondly in order to convert these
16:57numbers from pounds to dollars we're using an average conversion rate for the year so for
17:00example this year the average conversion rate was 1.2389 but last year it was 1.3757 and so
17:06some of the numbers are skewed in favor of last year because the conversion rate was a bit higher
17:09but also now that we're a big business and we have to like accounts and management accounts and stuff
17:13those numbers like i'm filming this middle of december 2022 and so those numbers have not yet
17:18been fully reconciled for the last like month or two and our accountants are going to be taking all
17:22the numbers in and then putting it all together properly and then submitting the actual tax return
17:26to his majesty's her majesty's revenue and customs i'm not even sure what you call it these days hmrc
17:31and so when that happens that's when we're going to get the final tally and so to an extent the
17:34numbers for this year are a little bit of an estimate we have all of the accounts reconciled
17:37up until like end of october and so for the final two months we're doing some estimates based on
17:41invoices we have due and based on some extrapolations that's why these numbers may be you know there
17:46might be a margin of error of like five percent ten percent hopefully it's not gonna be that high
17:50but who knows there's gonna be some kind of margin of error just saying that up front in case someone
17:53decides to look up our company accounts because it's public information and decide and sees a
17:57year later that hey the accounts you submitted don't quite match it's because we're doing some
18:00amount of estimates when it comes to making this video in particular anyway with these four income
18:04streams that brings our cumulative total revenue for the year to one million five hundred thirty
18:08one thousand eight hundred and seventy one dollars so far income stream number five podcast all right
18:13so this is a fun one so i actually have two podcasts one is called not overthinking which
18:17is a casual fun little podcast that i've been doing with my brother since like 2019 but actually
18:21about a year ago we started a proper podcast called deep dive deep dive with ali abdal you
18:25can find it on all podcast platforms where i interview entrepreneurs and academics and authors
18:29and creators and other inspiring people and we find out how they got to where they are and the
18:33strategies and tools we can learn from them to help help live our best lives and that podcast
18:37started at zero about 12 months ago and it's grown to something like 150 000 subscribers on youtube
18:42which is pretty cool and however many hundreds of thousands of monthly downloads i don't really
18:45look at the analytics for the podcast or the youtube channel particularly because i try not
18:48to look at the numbers myself so firstly we get some money from youtube ads because well the
18:52podcast is a video podcast and it's on youtube and therefore any ads that play in the podcast
18:56we get some small amount of money towards but we also have some sponsorships on the podcast
19:00and these function exactly the same as youtube sponsorships we might have like a handful of
19:03sponsors per podcast and it might be something like skillshare or shortform or heights or like
19:07essentially companies whose products i genuinely use who we then have deals with for the youtube
19:11channel but also for the podcast and that's pretty cool anyway in 2017 and 2018 i didn't have
19:15a podcast and so we made zero dollars from podcast in 2019 that was when we started not overthinking
19:19the podcast with my brother and we had like a handful of sponsorship deals and made 400 that
19:24year from sponsorships in 2020 we took on a few more sponsorships and made 7400 dollars in
19:28sponsorships before deciding that we actually didn't want to have sponsorships on not overthinking
19:32because it applied too much stress and pressure to publish consistently which was probably a good
19:35thing at the time and so now we're a bit less consistent because we don't have that pressure
19:39of a sponsorship deadline and then 2021 was when the deep dive with alibaba the main proper podcast
19:44actually started the one that we're actually taking seriously and doing like super consistently and
19:46that's growing really nicely and that year the podcast made 29 258 dollars but this year has
19:52been great the podcast has grown an absolutely huge amount it's in the top one percent of podcasts
19:56shared globally according to spotify unwrapped it's in the top one percent of podcasts listened
19:59to globally according to spotify unwrapped which is awesome but this year the podcast has in total
20:03made around 153 461 dollars now when i made this video last year i said the podcast was actually
20:10losing money and it was at the time because we had like i think one and a bit full-time people
20:14on the podcast and 29k that we made from sponsorships didn't quite cover their salary but
20:18now the podcast is profitable which is awesome because to be honest i would run the podcast even
20:22if it wasn't profitable because it's just so fun interviewing these incredible people and learning
20:25from them and i've also made a bunch of in real life friends through people that i met on the
20:29podcast initially so it's just been fantastic all around would recommend starting a podcast
20:33it's genuinely really hard to grow a podcast often podcasts grow through youtube clips and through
20:38like tiktok and other social media type stuff and so it takes a lot of work to actually grow a
20:42podcast to the point that it gets monetized anyway with this fifth income stream considered our total
20:46cumulative revenue for the year so far is 1 million 685 332 dollars income stream number
20:52six the email newsletter now this is a fun one that's only started making money this year so
20:56essentially since like march of 2018 i started an email newsletter where every week every sunday
21:02it's called sunday snippets it's still continuing to this day every single week i send an email to
21:05the however many people are on the mailing list i think it's almost 200 000 people now started with
21:09like 200 but i send an email to around like 200 000 people with my thoughts for the week and like
21:13what i've been up to and what i've been thinking about but also some books or podcasts or music or
21:17articles that i've been listening to and enjoying yeah that email is somehow read by all these people
21:22every week and that's sick but this year for the first time we actually got the email newsletter
21:27sponsored i think each issue of the email newsletter is sponsored now and we've got a load
21:30of sponsors booked in for 2023 as well which is pretty awesome and that's essentially the same idea
21:34as a youtube sponsorship but it's in an email and so at the bottom of the email it says this issue
21:39is brought to you by skillshare or morning brew or whatever other company is sponsoring the newsletter
21:43that week and if you're interested in making money from newsletter sponsorships essentially
21:46it doesn't really matter how big the audience is as long as the audience is targeted so actually
21:50there's kind of two ways of doing it in our case we have a very untargeted audience which is quite
21:54big and so sponsors are keen to get their product in front of a certain number of eyeballs but i
21:59know plenty of newsletters that have only a few thousand for example subscribers rather than a few
22:03hundred thousand subscribers but those few thousand are like very targeted so for example entrepreneurs
22:08or ceos or business owners or creators and so companies that are targeting specifically those
22:13people will pay a lot of money to target even a smaller number of those people rather than in our
22:17case which is pay a smaller amount of money to target a large number of people most of whom the
22:21product probably won't be relevant for and so if you're interested in doing this whole creator
22:24thing you actually don't need to become a youtuber necessarily you can absolutely make a full-time
22:27living through writing on the internet through the form of like twitter or linkedin or quora or
22:31medium or an email newsletter and if you're interested in learning more this book is sick
22:35the art and business of online writing by my friend nicholas cole we've been internet friends
22:38for the last year and met up a few weeks ago when he came to london to do a podcast recording so
22:42there will be an amazon affiliate link to this book in the video description if you want to check
22:45it out but this is actually sick i've been recommending this book to so many people the
22:48art and business of online writing and it just shows that you can be a creator without having
22:52to debase yourself on camera like i do every single week and i have been doing for the last
22:55six years you can do it through writing if you're a little bit more highbrow anyway the email
22:59newsletter made absolutely nothing 2017 2018 2019 2020 and 2021 even though i was writing these issues
23:04every single sunday since 2018 onwards but this year in 2022 we made $97,739 off of sponsorships
23:11on the email newsletter which is pretty sick and that brings our total cumulative revenue for this
23:15year to $1,783,071 so far income stream number seven social media instagram and tiktok so we
23:23talked about how being a creator you can also do through writing but also loads of people make
23:27money through instagram and tiktok i don't make a lot of money through instagram and tiktok because
23:30only this year that we started i think we did like one or two sponsored posts because mostly it's
23:35this youtube channel that i focus on and then my instagram is just sort of me chilling and doing
23:39stuff and my twitter isn't optically sponsored and my tiktok is just me sharing tips about
23:44productivity and things like that but we want to try and do a few more sponsorships and maybe
23:47affiliate deals on those social media platforms in 2023 but essentially because i did zero
23:52sponsorships this basically made zero money up until this year where actually we made $37,061
23:58through instagram and tiktok and a combination of sponsorships that i think we initially got for the
24:03youtube channel and the newsletter but we kind of upsold them and be like hey we'll do an instagram
24:07story or we'll do a tiktok post or things like that so $37,061 it's nothing to scoff at but not
24:12particularly interesting compared to these other different revenue streams although of course for
24:16a bunch of creators that are maybe huge on instagram or on tiktok they can make absolutely
24:20stupid amounts of money through instagram and tiktok content that's sponsored it's kind of
24:24funny to see sometimes where you know the amount of effort it takes into making a youtube video
24:29it's just absolutely huge and i know people who get paid way more than i do for a sponsorship
24:34and it's like an instagram story or it's like an instagram reel that take that took them 10 minutes
24:38to make rather than a video that takes like two hours to film 10 hours to prepare like an editor
24:4320 hours to edit like the amount of kind of how much money you can make for sponsorships and social
24:49media uh in terms of the amount of time invested for instagram and tiktok versus youtube is pretty
24:54skewed but having said that youtube i think overall is a better platform for longevity i hope
25:00fingers crossed and also for kind of maturity of the monetization end and like evergreenness and
25:06all this kind of stuff which is why a lot of people who are big on instagram and tiktok want to
25:09ultimately try and get big on youtube because they realize the value of an audience on youtube anyway
25:13um all that said that brings our total cumulative revenue so far to one million eight hundred twenty
25:18thousand one hundred and thirty three dollars income stream number eight merch all right this
25:22is another one that you're probably familiar with you might have seen youtubers and influencers and
25:26creators generally plug their merch and so we launched these merch we've got this part-time
25:30productivity planner by the way these are on sale there's like an end of year sale if you want to
25:33buy these link in the video description and this sort of to-do list um my most important task thing
25:38honestly this was a bit of a it was a bit of a side hustle and it was a bit of an experiment to
25:42see what it would be like to make physical products because i've been making digital products
25:46and courses and stuff for years but there's something cool about designing my own stationery
25:49that i wanted to do and it was fun it wasn't particularly profitable because the margins on
25:53physical products are just really annoyingly low and we kept on getting comments from people being
25:57like oh my god i can't believe you're charging 25 for a notebook i was like bro you have any
26:01idea how much it costs to print like it costs us 15 to like print a notebook because of the small
26:05quantities that we're dealing with we're dealing with sort of hundreds or thousands of units rather
26:08than tens or hundreds of thousands of units which is where you really get bulk discounts it was it
26:12was a fun experiment i don't think we are going to be continuing these for next year but we are
26:16working on another physical product brand which is going to be more around tech and keyboards and
26:21bags and that kind of stuff more details on that to come in 2023 and of course we're going to we're
26:25going to be documenting the journey as we go along but the essentially products in total made 63 000
26:3063 603 dollars in 2022 there's a bit of experiment it was cool working with a company to kind of make
26:36these and fulfill them and stuff and people do seem to like them which is awesome uh and we have
26:40various team members who actually continue to use theirs to this day i used to use mine being being
26:45and being fully honest but i actually switched to the bullet journal bullet journal method for
26:49journaling rather than my own part-time productivity planner for various reasons um but anyway 63 603
26:54dollars this year from merch and that takes our cumulative total to one million eight hundred
26:59eighty three thousand seven hundred and thirty six dollars so far income stream number nine digital
27:03products now we're getting into the territory where you can sell your own stuff and a lot of
27:08creators will make money through selling digital products so for example i interviewed grace
27:11beverly who's a used to be a fitness influencer um on my podcast super sick episode you should
27:16check it out link down below um but i interviewed grace beverly and when she was at the sort of in
27:20her fitness influencer career as one of the og youtubers who was doing fitness content she was
27:25selling like uh pdfs of workout plans and nutrition plans and stuff for like 35 pounds 30 dollars 40
27:32that kind of price range and seemed to sell run about 300 000 units and so just doing the
27:37maths of the top of my head it's like she's made over 10 million dollars 10 million pounds from
27:42selling pdfs which is just insane it's so cool it's super super super inspiring but that's an
27:47example of a digital product it's like a thing that it takes you a small amount of effort to
27:51make once and then you can sell it for generally a smallish amount of money to people and if you
27:55sell it to enough people you can make stupidly absurd amounts of money through selling digital
27:58products currently we don't sell very very many digital products we sell one and that's something
28:02we started selling this year and that is a ghost template the ghost is a website building platform
28:07that i've been using since 2016 for my own website and i worked with a designer and developer called
28:12dan to design our own theme for our ghost website you can check it out on aliabdell.com and loads
28:17of people emailed us being like hey can i get this theme i want i want my website to look like yours
28:21and so we thought hey why don't we just sell this theme and so this year we have made a grand total
28:25of 462 dollars selling this website theme to people who happen to have their website hosted
28:30on this niche platform ghost and also wanted to look like my personal website so absolutely nowhere
28:35near the 10 million that other people that i know have made from selling pdfs and digital products
28:39but it's something we might dabble with more next year selling digital products we'll see what
28:42happens but anyway that brings our total cumulative revenue for this year so far to 1 million 884
28:47thousand 198 dollars income stream number 10 skillshare okay so now we're getting into the
28:52final three income sources and these are all based around online courses and this one that
28:56we're talking about right now is skillshare now you will have almost certainly come across
28:59skillshare at some point on the internet they do a lot of sponsorships with youtubers and creators
29:03including me but actually the way we make most of our money from skillshare is not through
29:06sponsorships it's through the fact that i have around 12 13 i've even lost count i have all
29:11these classes that i've made exclusively on skillshare and so essentially people can people
29:16with a skillshare subscription it's it's sort of like netflix you pay i don't know ten dollars a
29:20month or something like that and then you can watch as much content as you want and the payment
29:24process for teachers like me on skillshare is sort of like streaming royalties so for every minute of
29:30watch time that someone watches one of my classes i will earn some small amount of money maybe like
29:35three or four or five cents but if i get several hundred thousand minutes of watch time every month
29:41then that can correspond to a pretty reasonable salary or income from skillshare so in 2017 and
29:462018 i made zero online courses on skillshare so no income there but in 2019 end of 2019 was when i
29:52made my first online course on skillshare and that was a course around how to edit videos in final
29:56cut pro and it took me like a day to film and it took a freelancer a couple of days to edit and
30:01that course has been sitting on there on skillshare since september of 2019 and it's been making
30:06several thousand dollars every month since then which is absolutely absurd because this one course
30:11that took me one day to film and i hired a guy to spend two days editing it and then me a day doing
30:16like the final touches like two days worth of work is making a few thousand dollars a month
30:19completely passively i never really talk about the course i think it's linked in some of my video
30:23descriptions but people just take this course i genuinely think it's really good like i've i've
30:28just recommended it to loads of people being like hey if you want to learn how to edit videos just
30:30take this course it's completely free you can access it on skillshare and that course makes
30:33several k every month which is awesome but in 2019 we made eight thousand four hundred and seventy
30:38dollars through skillshare through teaching on skillshare in 2020 we made four hundred and forty
30:42nine thousand two hundred and ninety five dollars on skillshare again blew my mind completely absurd
30:46in 2021 that number was even higher and it went up to 859 106 yes that year 2021 i think this was
30:54our second highest revenue source just somehow managed to make 859 000 just teaching classes
31:00on skillshare and it's particularly good and i love skillshare so much and we have such a great
31:03relationship with them we know some of the people on their team good people because skillshare also
31:07sponsored my videos and so when i'm when i'm doing a skillshare sponsorship for a video it means i can
31:11plug my own classes on skillshare which is just like synergy that is almost unheard of with any
31:17other sponsor and in fact skillshare actually sponsoring this very video so if for example
31:21you're interested in taking classes from all sorts of topics from entrepreneurship and graphic design
31:25and interior design and cooking to all those sorts of things you can just sign up for a free trial of
31:29skillshare if you're one of the first thousand people to hit the link in the video description
31:32you'll get a totally free 30-day free trial and in that time you can watch all of my classes i have
31:36like 12 of them there's the video editing one that we've talked about there's youtube for beginners
31:40which is sick it's like four hours long i think it's it's absolutely incredible loads of people
31:43have said that they would have paid like hundreds of dollars for that class but it's completely free
31:47on skillshare i've also got stuff around productivity and how to study for exams and how
31:50to use anki flashcards and a bunch of other classes on skillshare you can watch entirely to your
31:54heart's content completely for free but just hitting the link in the video description and
31:58signing up to a totally free free trial and then once your free trial is over you have the option
32:01of signing up to the annual premium membership i sign up for it i pay for it skillshare is genuinely
32:06a good place that i go to when i want to learn something specific like a thing in photoshop or
32:09a thing in after effects usually someone on skillshare will have created a decent class on
32:12that particular thing and so i can learn the thing on skillshare without having to troll through
32:16youtube videos so if for example you are interested in taking some online classes including some of
32:20mine then you can hit the link in the video description and thank you so much skillshare
32:23for sponsoring this video but you see what i did there like you know this is a sponsored segment
32:25from skillshare so skillshare are paying me to say that in this video but i can plug my own classes
32:29and so hopefully some people will click the link thus they'll watch my classes and now i get like
32:33paid for doing this video but i also get paid for the watch time royalties of people taking my
32:38classes on skillshare and it becomes this reinforcing loop um unfortunately in about the
32:43middle of 2022 this year skillshare changed their pricing structure and our monthly monthly revenue
32:49took a bit of a hit on skillshare so actually this year we've only only made 778 131 dollars
32:55which is still pretty absurd but it's not quite the levels of 2021 where we did 859 000 and i think
33:01i suspect next year it's going to be even lower because i think skillshare has been hit with the
33:05recession like everyone else has and is trying to save money but hey you know it's still very
33:10profitable for us to continue to keep our classes on skillshare so while it continues to make sense
33:13we're going to keep on doing it and the other thing i like about teaching on skillshare is that
33:16it's um it's free for users to access like anyone can sign up for a free trial and then cancel it
33:21if they really want so i think it's cool because it gives especially for my classes aimed at
33:25students it means they don't actually have to pay for it rather than when my when it comes to my
33:29proper actual courses which cost quite a lot of money skillshare is nice to have that kind of
33:33low price or free alternative for people that don't want to or that can't afford to pay for the
33:37other stuff anyway with skillshare taken into account our cumulative total revenue for the year
33:41so far is two million six hundred and sixty two thousand three hundred and twenty nine dollars
33:46so we've talked about one way of selling online courses which is on skillshare where you don't
33:49really sell them you get paid watch time royalties but another way of selling online courses is to
33:53host them yourself using a platform like podia or teachable or kajabi or sam card like there's
33:58loads of different online course hosting platforms but essentially you get your own website like
34:02mine i think is academy.alibedal.com or whatever the subdomain is and then people can directly go
34:06on your website and directly pay you some amount of money to sign up to your online course and we
34:10have two online courses in particular that we released this year one is called the create
34:14apreneur course and the other one is camera confidence so the create apreneur course is a
34:17self-paced online course aimed at creators that want to treat their creative thing more like a
34:21business so it's got three modules workflow cashflow outflow it's about how to optimize
34:24your systems and structures to think of your creative thing more as a business it's about
34:28how to make money figuring out what products to sell to your audience and then how to outsource
34:31and build a team and essentially what does it look like if you as a creator think of your thing
34:35more like a business and less like a creative creative outlet or whatever anyway i think we
34:39sell that course for around eight hundred dollars and some amount of people buy it every month which
34:43is awesome and then we also have a much cheaper camera confidence course which is you know a couple
34:47of hours long it's some video modules and some workshops and trainings and stuff where i teach
34:50people how to be more confident on camera and i think we sell that for 149 dollars so those two
34:55are self-hosted courses they're not on skillshare they're not available anywhere you like you have
34:59to actually pay money for those courses or you can sign up to a scholarship if you want because
35:02we give out free spots for people that can't afford it but anyway that aside this year was
35:06the first year that we did that to be honest the reason we did that is because a couple of years
35:10ago i realized that the skillshare thing was probably too good to be true and that this was
35:14not going to be sustainable i was like there is no way in hell skillshare can continue to sustain
35:17paying us stupid amounts of money every month for us to host our courses on there and immediately i
35:21was like right guys i said this to the team we need to start making our own courses and hosting
35:25them ourselves because when you host something yourself and it's your own product you're not
35:29reliant on a third-party platform and their rules so like we saw this with skillshare it's like it
35:33had i it was a long time coming but a few months ago they changed their monetization strategy and
35:38that immediately took a 50% hit to our revenue from skillshare like immediately overnight we
35:42lost 50% of our skillshare revenue i was like okay cool fair enough we kind of knew this was coming
35:45similarly you know i've got a couple of youtuber friends that got banned from skillshare and
35:48overnight they lost all of their skillshare revenue and this is what happens when you become
35:52overly reliant on a third-party platform where you don't control the the asset yourself and so
35:58you know we still use skillshare it's still great we still love the team good vibes all around
36:01but in terms of diversification in terms of just being sensible with kind of how we're making
36:05revenue from the business it made so much sense to have our own products that we could sell as
36:09higher ticket courses that we hosted ourselves anyway uh we made absolutely no money from self
36:14hosted courses in 2017 18 19 20 and 21 because we didn't have any all my courses were on skillshare
36:19but this year we made actually 179 026 off of selling these two self-hosted courses haven't
36:25marketed them or sold them particularly well which they've just been on the website and
36:29occasionally people will buy them and that's awesome but that brings our cumulative total
36:32revenue before we get to the final income stream to two million eight hundred and forty one thousand
36:37three hundred and fifty five dollars income stream number 12 cohort based courses now in 2020 towards
36:43the end of 2020 i started a course launched a course called the part-time youtuber academy
36:47and we ran one cohort one life cohort in 2020 and then three in 2021 and then so far three in
36:52three in 2022 so far we've done seven cohorts of this course and of course it's basically like a
36:57live online course where for either four or five or six weeks depending on what cohort it was um
37:01people come in we have a few hundred people and then i teach them on like live zoom calls and we
37:05have loads of like accountability and support and feedback and workshops and it's a very very very
37:10involved thing it's like doing i guess doing like a physical course in real life where you have
37:15workshops and boot camps and things like that but it's all online over zoom and we have a few
37:18hundred people each time and so far i think we've got like two thousand something students
37:22through the cohort but this is what took our numbers to absolutely insane levels so in 2020
37:27we made two hundred and eighty two thousand four hundred and fourteen dollars in top line revenue
37:31from the cohort uh this is not taking costs into account it costs a lot to put one of these cohorts
37:35on we had to hire a whole team for it and a whole bunch of student supporters and there's a lot of
37:38infrastructure that goes into it and the team like do a fantastic job of putting everything
37:42together for these cohorts i don't have to do very much these days i just show up and teach and
37:46provide the content and the material and stuff but it's a team that does most of the work so
37:49there's a lot of costs associated with this as well but then in 2021 we made an absurd number
37:54two million essentially just over two million dollars two million fifty thousand ish dollars
38:00from the three cohorts of our part-time youtuber academy this was absolutely absurd um i think it
38:05was middle of pandemic people were flocking to online education um we had so many students take
38:10our course we had a bunch of success stories from the previous cohorts of the course so people were
38:14like oh sick this is awesome and it just it just absolutely exploded beyond our wildest dreams and
38:18then we made a couple of mistakes number one we kept on raising the prices because we were like
38:22oh this is just selling out let's just keep raising the prices let's keep adding more and
38:25more stuff to it and i think we dipped beyond the point where it would became sort of a comfortable
38:29amount of money so right now i think the cheapest package for the course is two thousand dollars
38:33which is a lot for someone to just take out their card and sell and having spoken to people who do
38:37sales and marketing stuff they've all said basically that this two thousand dollar mark
38:41is usually the mark the point where someone would have to you know pick up the phone or hop
38:45on a zoom call with someone to actually have a conversation with a real life person before
38:49spending this kind of money and we just sort of kept on increasing the point increasing the prices
38:53beyond that point and that was probably a bad idea but also we also then did a really bad job with
38:58sales and marketing overall and in 2021 we had a bunch more videos teaching people how to be
39:01creators that plugged the course and in 2022 i think also because we made fewer videos overall
39:06and i was mostly focused on my book and i was kind of like ah don't really care about making
39:10youtube videos aimed at youtubers because that's not really my content but that was the sort of
39:13videos that sold the course that ended up meaning that we've got we got fewer people onto our
39:18waiting list and even though our conversion rates kind of stayed exactly the same i.e if someone
39:22looked at the page they were just as likely to buy this year as compared to last year we just
39:25had fewer people coming into the top of the page because i made less videos about how to be a
39:28youtuber but also i suspect you know in 2022 the world came back to life people stopped caring so
39:34much about online courses and live cohorts and everyone else i know who runs live cohort courses
39:38also had a little bit of a dip but in 2022 all of that aside we made $1,759,238
39:45from our part-time youtuber academy so a little bit of a decrease in revenue compared to last year
39:50um but i think makes sense given that we didn't really focus on sales and marketing at all and
39:55given that we have a recession and that we made the mistake of increasing prices and but yeah loads
39:58of lessons taken forward for 2023 to see what we can do next when it comes to the part-time youtuber
40:02academy it's super fun our students love it we have a very low refund rate like we basically offer
40:06refunds to anyone if they don't like the course no questions asked broadly um and very very very
40:11few people take us to take us up on that so i think it's really solid course but i think kind
40:15of we sort of failed a little bit in sales and marketing but even though we failed a bit in sales
40:18and marketing we still managed to do 1.76 million dollars worth of revenue which i think is reasonable
40:22since people have seen what these numbers are like a lot of people have always asked me like
40:25would i recommend doing a cohort based course like would i recommend running one the answer
40:28is probably not it is so much work it's so much effort and actually a lot of the time and effort
40:32that went into this course could have gone into maybe better things but depending how you define
40:37better like i could have made more youtube videos i could have focused more on my book
40:40we're spending so much time and effort me and the team overall on this course and trying to serve
40:44our students as best as we could it kind of took took my eye off the ball which is like the thing
40:49i actually care about the thing that i personally want to do that makes me fulfilled is reading
40:55writing learning teaching sharing stuff on the internet and doing it for free if we didn't need
40:59to make money i probably wouldn't run any paid courses because i think it's nice that everything
41:03is free freely available on the internet but like we ended up in this weird situation where
41:07you know the course did super well in 2020 and then did really ridiculously well in 2021 and
41:12we hired a load of people and then our fixed costs went up and then we kind of needed to sustain a
41:16certain amount of revenue to be able to actually keep the business profitable so we had to run
41:20various cohorts of this course again in 2022 and we ended up on this kind of weird hamster wheel where
41:25even though the course was it was it was just intended to be a bit of a side hustle but it just
41:29ended up completely taking over the business that i don't really want to be in the business
41:32of teaching people how to start youtube channels live in person on zoom uh for very for for a
41:39particularly long time that that's not what makes my heart sing what makes my heart sing is like
41:43sharing stuff and making videos about it and then moving on to the next thing so you know lots of
41:46questions to figure out like do we want to continue with this do we not like what format does it look
41:50like it makes a lot of sense to continue doing it because people love it and it's still fun to do
41:54but it's just not quite the core focus of the business and so that's one of the things that
41:57i've been talking a lot to my ceo coach about to figure out hey when you have this kind of side
42:01hustle that's somehow doing really well but it's not the main thing that you want to do as a
42:04business what you do about that i don't know i'll let you guys know when once we figure it out but
42:08now let's add up all the different revenues for what's been going on so far at the end of this
42:12very long and rambly video by the way if you like this i'd love it if you could leave a comment about
42:15what what was your favorite part of the video what was most useful um not sure honestly if we want to
42:20continue doing these videos for next year and onwards um these numbers are starting to get to
42:24a point where they're just unattainable for most people or unrealistic for most people and i'm just
42:29a bit concerned that certainly like at the start of the journey it's kind of cute sharing real
42:35real numbers like oh my god it's so transparent and nice but when the numbers just become absurd
42:39it's it almost feels too much like a flex and not enough like an educational thing i don't know but
42:43anyway i would love to hear in the comments what you thought of uh this particular video whether
42:47you think it's useful to continue doing this sort of stuff every year or not we'd love to hear any
42:50thoughts on this because i'm actually i'm genuinely not sure i'm not sure if it is worth continuing
42:54doing videos like this but anyway we're doing it for this year so anyway if we add up overall
42:58revenue from all these 12 income streams what do we get for each year well in 2017 it basically made
43:03absolutely nothing and we're going to talk about costs as well but basically zero in 2017 let's
43:07call it two dollars 27 because that's what youtube says we made in ad sense in 2018 our total revenue
43:11was 24,615 dollars in 2019 it went up to 130,091 dollars in 2020 it absolutely shot up to 1.213
43:22million dollars in 2021 it shot up even more to 4,051,116 dollars and so far for this year our
43:30cumulative total is 4,600,593 dollars so 4.6 million dollars which again is subject to a
43:38little bit of change depending on like what our accounts look like and what the dollar exchange
43:42rate and all this kind of stuff looks like but we've tried our very best to double check all
43:45these numbers and just make sure they are as accurate as we can possibly make them in the
43:48absence of actually having verified management accounts from our accountants we pay lots of
43:52money to make sure this stuff is right um but that'll come out in the next few months so we'll
43:56see but actually revenue is only part of the equation and if we talk about costs then things
44:00paint a little bit of a different picture so in 2017 our total costs were around about 5,156
44:06dollars this was mostly on gear and just actually getting started with youtube and that meant the
44:11profit that year was negative 5,154 dollars in 2018 we mentioned how our revenue was 24,615 dollars
44:18but we actually had 13,349 dollars in costs again mostly camera equipment and that kind of stuff
44:24and that meant that we had a profit for the first time of 11,266 dollars in 2019 our revenue was
44:30129,691 and the costs were around 25,544 again gear and getting a new mac and actually outsourcing
44:39editing for the first time so we had a profit of around about 104,147 in 2020 the costs really
44:45started to rise so we had a revenue of 1.21 million but we had costs of 256,740 dollars
44:52leading to a profit of 956,267 dollars and then in 2021 yes our revenue was 4.05 million dollars
45:00but we actually had costs of 1.5 million dollars 1,525,402 which resulted in a profit of 2.5
45:07million so 2,525,714 dollars now the interesting thing is here that even though in 2022 our revenue
45:14went up by a little bit to 4.6 million rather than 4.05 million our costs actually went up by an
45:20absolute mile and our total costs this year were 2,527,356 dollars we spent a whole million
45:28dollars extra this year compared to last year yes there was a bit of like currency exchange rate but
45:32it's just an absurd amount of money that we spent this year on various things and that meant that
45:36the profit this year was actually lower than what it was last year and this year our overall profit
45:40for the business was 2,073,237 dollars give or take a few percentage points whenever the accounts
45:47get reconciled now this is super interesting it's the first time in my life where we've had
45:51a dip in profitability a massive spike in costs and i've made a video over there where i talk
45:55about like all of these failures in entrepreneurship like all the ways that i failed this year to get
46:00to a point where we're actually less profitable this year than we were last year so if you're
46:03interested you can check out that video over there but yeah thank you so much for getting
46:06to the end of this video please do click there if you'd like to see kind of my response to the
46:10fact that our profit is lower than it was last year have a great day and i'll see you in the
46:13next video bye