This Makes ME $250,00+ Per Month At Age 20

Summary

In this video, the speaker shares a detailed overview of their journey to building multiple revenue streams, including an advertising agency, an education company, affiliate marketing, YouTube ad revenue, and a clothing line. Despite challenges, they’ve built a diverse business portfolio that generates significant monthly revenue, with a focus on organic growth and long-term sustainability. They emphasize the importance of persistence, passion, and personal development, particularly the role of reading and self-education in achieving success. The speaker also provides transparent insight into their earnings, margins, and future plans for scaling their businesses.

Takeaways

• 😀 Diversifying income streams is key to financial growth: The speaker's $250,000/month revenue comes from multiple sources, including an advertising agency, education business, affiliate marketing, YouTube, and a clothing line.
• 😀 Starting an agency at 16: The speaker launched their advertising agency at a young age, learning to manage and grow it over several years.
• 😀 Scaling an education business: The speaker's education company generates significant revenue, with a focus on courses and training programs for entrepreneurs.
• 😀 Affiliate marketing can be a profitable side business: The speaker makes around $12,000 monthly through affiliate marketing, showing its potential for passive income.
• 😀 YouTube can generate revenue but requires patience: Despite a slowdown in growth, the speaker's YouTube channel still brings in around $4,000/month.
• 😀 Passion projects can lead to financial success: The speaker’s clothing line, though not yet profitable, is a passion project they are dedicated to growing into a seven-figure business.
• 😀 Quality over quantity in business: The clothing line uses bespoke production, which ensures high quality and customer satisfaction despite slower sales.
• 😀 Be prepared to make sacrifices: The speaker dropped out of high school at 17 and committed to self-education and entrepreneurship, sacrificing traditional schooling for business success.
• 😀 Reading is a foundational habit for success: The speaker recommends reading a book a week as a crucial habit for personal development and success in business.
• 😀 Success takes time and perseverance: The speaker highlights that success isn’t instant, emphasizing the importance of consistency and long-term vision in building a business.

Q & A

What are the five main income sources mentioned in the video?

The five main income sources mentioned are: 1) Agency business, 2) Education business, 3) Affiliate marketing, 4) YouTube Adsense, and 5) Clothing line.

How much revenue did the speaker make last month, and how much of it was profit?

The speaker made $250,000 in revenue last month, with an estimated profit of around $70,000.

Which of the five income sources is the speaker's longest-standing business?

The speaker’s longest-standing business is the advertising agency.

How did the speaker's YouTube channel perform in 2019, and what changed in 2020?

In 2019, the speaker’s YouTube channel didn’t grow at all, but in 2020, they decided to prioritize growth by allowing ads, which brought in an additional $45,000-$50,000 in revenue.

What challenges did the speaker face with their clothing line launch?

The clothing line faced delays, with season two being pushed back several months, and the first season's sales declining over time. The speaker also didn't focus on marketing until recently.

What is the speaker's projected revenue for their clothing line in its first year?

The speaker projects that the clothing line will generate around $100,000 in revenue in its first year.

What is the speaker's approach to scaling their clothing line?

The speaker plans to scale the clothing line by hiring a full-time influencer manager and spending $20,000-$30,000 on influencer marketing, with a goal to reach seven figures in revenue within the next year.

How did the speaker initially feel about launching a clothing line?

The speaker was initially hesitant and saw the clothing line as a distraction, but eventually, they decided to launch it in 2019, driven by their passion for clothing.

What role did reading play in the speaker’s personal and business growth?

Reading played a key role in the speaker's development. They started reading a book a week at the age of 14, which helped them develop the mindset, discipline, and business acumen needed for success.

What is the speaker’s message to viewers about achieving success?

The speaker emphasizes that success takes time and requires consistent effort. They suggest starting small, such as reading a book a week, as a way to improve oneself and ensure a better future.