5 High Income Skills Students Can Learn in 2024

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5 High Income Skills Students Can Learn in 2024

My background (00:00:00)

  • Ali is a doctor turned entrepreneur and author of the New York Times bestselling book "Feelgood productivity."
  • He has been making videos on his YouTube channel for the last 7 years, documenting his journey from medical student to entrepreneur to author.
  • He shares his learnings, failures, and experiences on his channel.
  • Copywriting:
    • Writing persuasive marketing materials that compel readers to take action.
    • Examples:
    • Copywriters for advertising agencies or businesses.
    • Freelancers on platforms like Upwork or Fiverr.
  • Video Editing:
    • Creating and editing videos for various platforms.
    • Examples:
    • Video editors for YouTube channels or production companies.
    • Freelancers on platforms like Upwork or Fiverr.
  • Web Development:
    • Building and designing websites.
    • Examples:
    • Web developers for companies or agencies.
    • Freelancers on platforms like Upwork or Fiverr.
  • Graphic Design:
    • Creating visual content like logos, illustrations, and social media graphics.
    • Examples:
    • Graphic designers for companies or agencies.
    • Freelancers on platforms like Upwork or Fiverr.
  • Data Analysis:
    • Collecting, analyzing, and interpreting data to draw insights.
    • Examples:
    • Data analysts for companies or research institutions.
    • Freelancers on platforms like Upwork or Fiverr.

The philosophy of making money (00:01:02)

  • Your "personal stock price" represents your worth in the market, and high-income skills increase it, allowing you to command higher compensation.
  • You are already an entrepreneur, even with a traditional job, as you sell your skills to the market.
  • The goal is to increase your personal stock price by acquiring more high-income skills and reducing reliance on a single employer.
  • High-income skills are highly valued in the marketplace and lead to greater earning potential, while low-income skills are less valued.
  • Examples of high-income skills include coding, copywriting, and web design, while playing the guitar and writing academic essays are generally low-income skills.
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  • Hostinger offers various plans, including the Premium plan starting at under $3 per month, with features like a free domain name, email addresses, support for up to 100 websites, built-in AI tools, and drag-and-drop editing.
  • The Business plan includes e-commerce features and additional AI tools for driving traffic to websites.
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  • The value of a skill depends on who is buying it, and focusing on skills that increase your personal value without requiring exceptional talent or luck is essential.
  • Selling your skills to businesses rather than consumers is more lucrative, as businesses have more money and value skills differently.
  • The video will provide real-life examples of people making money using high-income skills, even if you think you lack the necessary abilities.

High Income Skill 1 (Software Consulting) (00:12:08)

  • Students can learn high-income skills by becoming software consultants for businesses, as many businesses use various software but may not be proficient in using them.
  • Students can learn how to use specific software through self-taught methods, such as watching YouTube videos, and then offer consulting services to businesses in their local area or online.
  • Consulting for businesses provides students with practical experience in various business aspects, including pricing services, selling, persuasion, order fulfillment, business language, and return on investment concepts.
  • This skill set is not typically taught in traditional education, including MBA programs, and offers valuable insights into entrepreneurship and business operations.

High Income Skill 2 (Writing) (00:18:04)

  • Good copywriting can significantly increase a business's conversion rate and revenue.
  • A 0.5% conversion rate means that for every 200 visitors to a website, one person makes a purchase.
  • Increasing the conversion rate from 0.5% to 2% can quadruple the revenue generated from the same number of visitors.
  • Copywriting is a high-income skill that can be learned through books, YouTube videos, and online courses.
  • Copywriting involves writing persuasive sales pages, emails, and other marketing materials.
  • Ghostwriting is another high-income writing skill that involves writing content for others under their name.

High Income Skill 3 (Designer) (00:22:02)

  • Designers are in high demand, especially for businesses under 20-30 people who cannot afford a full-time designer.
  • Businesses need various design assets, including website designs, app designs, Instagram carousels, ads, and more.
  • Freelance designers can earn high incomes, especially if they have industry-specific knowledge.
  • The speaker earned $100 per hour as a freelance designer for medical tech companies while in medical school.
  • Resources for learning design skills include the YouTube channel of Abby Conic, a self-taught graphic and brand designer.
  • Figma, Canva, and Photoshop are valuable design tools.

High Income Skill 4 (Website Builder) (00:25:06)

  • Website builder is a high-income skill.
  • Every business needs a website.
  • Web designers and developers who can use tools like Webflow and Framer can charge thousands to tens of thousands of dollars for their services.
  • Targeting the right businesses, such as those in the $1 million to $20 million revenue range, can make web design a very lucrative career.

High Income Skill 5 (Coding) (00:27:24)

  • Coding is a surprisingly accessible skill to learn.
  • There are many free YouTube tutorials and AI tools like GitHub Copilot and GPT to help beginners.
  • US-based tech companies offer starting salaries of $400,000 for coders.
  • Coders with experience can earn six figures straight out of university.
  • Coding can be used to create products and generate income, such as Sahel's AI tool "Firecut" which earns him $35,000 per month.
  • The website Indie Hackers provides inspiring stories of individuals who made significant money by coding from their bedrooms.
  • Learning to code opens up opportunities for building apps, websites, and other digital products.

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