Ali Abdaal
June 21, 2024
TL;DR
A doctor-turned-entrepreneur breaks down five practical high-income skills—software consulting, copywriting, design, web development, and coding—that students can learn to significantly increase their market value and earning potential.
“Everyone is already an entrepreneur. You already run your own business even if your business is hired out to one employer.”
— Ali Abdal
“It is so much easier to make money when you think about what is your worth, what are your skills that you can sell to a business rather than what's the value of your skills to a normal person.”
— Ali Abdal
“If someone were to copywrite our landing page and increase that conversion rate from 0.5% to 2%, instead of it being a $1 million a year business it would be a $4 million a year business.”
— Ali Abdal
“You can be a 13-year-old kid in Pakistan, learn how to code, build some sort of app, and if that app is good you could literally make thousands if not tens of thousands if not hundreds of thousands of dollars a month.”
— Ali Abdal
1. Understanding Personal Stock Price and Entrepreneurship
Ali explains the concept of 'personal stock price'—your market value. Everyone is already an entrepreneur selling their skills to the marketplace. Understanding this framework is essential for identifying which skills will increase your earning potential versus which ones won't.
2. High-Income vs. Low-Income Skills and B2B vs. B2C
The key distinction between skills that pay well and those that don't depends on market demand and who is buying. Selling to businesses (B2B) is far more lucrative than selling to consumers (B2C). Examples include copywriting (high-income) vs. academic essay writing (low-income).
3. Software Consulting: Teaching Businesses to Use Tools
Students can become highly paid consultants by mastering business software like Notion, HubSpot, or Asana and teaching entrepreneurs how to use them. Molina, a former university student, charged $300–$800 per session teaching Notion consulting, earning more than qualified doctors.
4. Copywriting: Converting Prospects into Customers
Copywriting—writing persuasive sales pages and emails—is extraordinarily valuable because even small improvements in conversion rates yield massive revenue gains. A conversion rate increase from 0.5% to 2% can turn a $1M business into a $4M business.
5. Graphic and Web Design for Businesses
Design is a critical skill every business needs. From YouTube banners to app interfaces to ad campaigns, freelance designers can charge thousands to tens of thousands of dollars. Ali's friend Henry charges $10,000–$115,000 for website and sales page design.
6. Web Development: Building Websites with Tools Like Webflow
Web developers can earn substantial income by using tools like Webflow and Framer. Henry taught himself in six months through YouTube tutorials and now charges tens of thousands per project. Every business needs a website, making this a consistently high-demand skill.
7. Coding: Building Products and Landing Tech Jobs
Coding enables both high-paying employment ($400,000+ starting salaries in tech) and entrepreneurship. Friends like Sahel built their own AI tools earning $35,000/month without formal credentials, proving that self-taught coders can create valuable products.
8. Mindset: Targeting the Right Market
Success depends on identifying the right clients. Ali earned $100/hour as a freelance designer by targeting med-tech startups that valued his medical background. Targeting businesses doing $1–20M annually in revenue makes high rates easier to justify.