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How I Made $45,000 in 30 Days with AI Businesses

Jun 3, 2024

How I Made $45,000 in 30 Days with AI Businesses

Overview

  • Presenter: Liam Otley, an online entrepreneur based in Dubai
  • Owns an AI development company called Morningside AI
  • Recently made $45,000 profit in 30 days

Table of Contents

  1. AI Income Streams
  2. Pros and Cons of Each Stream
  3. Plan to Scale Further
  4. Starting Your Own AI Business (Easy Way to Earn 10K/Month)

AI Income Streams Breakdown

Total Revenue Goals

  • Target: $1 million/year
  • Current Progress: $200k

Breakdown of Income Streams

  1. Morningside AI Revenue: $185k YTD
  2. YouTube Income: $6.7k YTD
  3. Consultancy Income: $12k YTD

Deep Dive into Income Sources

1. YouTube

  • Monthly Income: $3,000 (up 30% from last month)
  • Expenses: Editors and thumbnails
  • Pros:
    • Semi-passive
    • Builds personal brand
    • Compounds over time
  • Cons:
    • Time intensive
    • YouTube takes 30% from US viewers

2. AI Consulting Services

  • Monthly Income: $6,000 (up 15% from last month)
  • Pros:
    • Qualifies leads via $300 fee
    • High conversion to development inquiries
    • 100% margin
  • Cons:
    • Not scalable
    • Disrupts workflow

3. High-Ticket AI Development (Morningside AI)

  • Monthly Income: $54,000
  • Expenses: Developers, operations, managers
  • Profit: $20,000
  • Pros:
    • High Average Order Value (AOV)
    • Builds good case studies and credibility
    • Great networking
  • Cons:
    • Hard to scope projects
    • Wastes time on proposals
    • Low margins
    • Hard to find talent

4. AI Automation Agency

  • Monthly Income: $26,000
  • Expenses: $9,900
  • Profit: $16,092 (up 530% from last month)
  • Pros:
    • Minimal admin
    • Easy to scope projects
    • Easier to find cheaper talent
    • Fast delivery and easy upsell
    • High margins (60%)
  • Cons:
    • Technically lower ticket
    • Constrained by platform limitations

Scaling to $100k/month Plan

  1. Expand AI Automation Team
  • Hire and train cheaper talent
    • Plan to get one full-time employee to handle 20-30 clients/month
  1. Expand Service Offering
  • Utilize chatbots, content generation, zapier flows, etc.
  1. Scale Lead Generation
  • Utilize cold outreach and improve lead generation systems

Easiest Way to 10K/month for Beginners

  • Recommended Model: AI Automation Agency
  • Service smaller clients needing basic AI functionalities
  • Benefits:
    • No need for high-level skills
    • Zero startup cost
    • Untapped market
    • High margins

Action Steps for Viewers

  1. Subscribe to the Channel: Stay updated on new content
  2. Join Newsletter: Get insights on AI business models
  3. Join Discord: Engage with community and get personal advice
  4. Like and Comment: Participate in a giveaway for a consulting call
  • Interaction Encouragement: Encourages viewers to comment their thoughts on AI automation.

Full transcript