Lecture Notes: 5 High Income Skills for Financial Success

Introduction

• Presenter: Ali Abdal
• Background: Doctor turned entrepreneur, NY Times bestselling author of "Feelgood Productivity."
• Purpose: Share high-income skills to help individuals, especially students, make substantial money.

Philosophy of Making Money

• Capitalism's Personal Stock Price: Everyone has a "personal stock price" reflecting their worth to the market.
• Student Example: As a young medical student, Ali's "stock price" was low but increased as he acquired valuable skills.

Being an Entrepreneur

• Everyone's an Entrepreneur: Even as an employee, you're effectively running a business with one client (your employer).
• Personal Stock Price: Aim to increase it through high-income skills to safeguard against job loss or other financial uncertainties.
• Low-Income vs. High-Income Skills: Low-income skills (e.g., writing academic essays) vs. high-income skills (e.g., coding, copywriting).
• Business Market: Selling to businesses is generally more lucrative than selling to individual consumers.

High Income Skills Overview

1. Software Consultant for Businesses: Notion Example

   • Description: Teach businesses how to use software tools.
   • Example: Molina, who charged high rates for Notion consultancy during university.
   • Skills: Learn various business software (e.g., HubSpot, ConvertKit, QuickBooks).

2. Copywriting

   • Description: Writing persuasive content to boost sales.
   • Impact: Small percentage changes in conversion can lead to massive revenue increases.
   • Resources: Books like "Copywriting Secrets" by Jim Edwards, YouTube channels (e.g., Cardinal Mason).
   • Example: Improving conversion rates to boost revenue.

3. Design (Web and Graphic)

   • Description: Designing websites, apps, and other assets for businesses.
   • High Demand: Difficult to find good designers; freelance opportunities abound.
   • Examples: Ali's own freelance design work during university.
   • Resources: YouTube channels like Abby Connick for learning design.

4. Website Building

   • Description: Building websites for businesses.
   • High Demand: Every business needs a website.
   • Examples: Henry, who learned web design in six months and now charges thousands for projects.
   • Tools: Platforms like Webflow, Framer; host on platforms like Hostinger.

5. Coding

   • Description: Writing code for software, websites, or creating your own apps/products.
   • Opportunities: High salaries for coders; ability to create and monetize own tools.
   • Example: Sahel, who built a software generating significant monthly income.
   • Resources: Websites like Indie Hackers for inspiration and guides.

Conclusion

• Path to Financial Freedom: Learning high-income skills can significantly increase your earning potential.
• Recommendation: Engage with available resources and communities to build and monetize your skills.