So I've recently increased my earning potential my base income all of my streams together combined by
50% in the year 2020. And I want to tell you exactly how i was able to build out
multiple streams of income and how you can do it too. Now the only thing I ask in return is:
if you like this video to give it a like and to subscribe so that i know that you're listening
and you can keep up and stay up to date. That's the deal, I hope you enjoy this video. Let's go.
My name is Andrew, I'm a data scientist and youtuber and entrepreneur here in silicon valley
that is my son Meatball or Professor Meatball as some of you know him as. I graduated from
the University of Chicago, that's what i look like back when i was happy and naive. And i am
the son of two immigrant parents who came to this country and wanted me so badly to be a
doctor and had no idea what a data scientist is and probably continues to this day to not
have the full understanding of how to make money on youtube and why i'm doing these things well
excuse me um i'm about to show you what mom and pop don't understand about
working here as an entrepreneur in silicon valley. Andrew... I'm an Andrew-preneur
I'm a silicon valley data scientist making a comfortable six figure salary which means
that that is going to be a large part of the pie of my nine streams of income
so i'm a silicon valley data scientist which means that that is going to be my first stream of income
income as a full-time employee this comes with not just the benefit of a full-time salary but also
benefits such as insurance and pet insurance and help with electronics reimbursements of
gym expenses etc etc the biggest reason i was able to increase my income from 2019 to 2020
was negotiating a new offer with a new company and this has been a trend for each of my positions one
after the other in my professional trajectory in tech that's something that i'm very proud
and something that i talk about in my channel on other videos as well so that's going to be
the big number one in terms of income streams the second source of income is something i've
started very recently and that is mentorship data science mentorship is very similar to
coaching in other industries but it involves helping you brand your portfolio as an aspiring
data scientist or a pivoting data scientist and be able to talk about your strengths and
then finally get the job the second source of income is direct payments week to week
on data science mentorship the amount that i charge week to week ends up being case by case
because it ultimately ends up being how much work does a candidate need and actually you'll
be surprised that the airport test applies here how much do i appreciate working with the mentee
and how much do i like their work ethic that all ends up in the calculation when i figure
out how much our time is worth on one-on-one consultations and mentorships the third source
of income is something that is more subtle that is inside the description of each of my videos
and that is amazon affiliate program this is a program that most creators sign up to in order to
try and push a product that they enjoy or maybe a product that they use personally now the three
links that have been in most of my descriptions are one a o'reilly book that teaches you sql two
the camera that i am using right now the sony zv1 and three the microphone that i'm using right now
which is the blue yeti as thanks for staying this long i want to give you a treat by giving
my dog a treat because you have been just as patient as him let's give him a treat
these three things have helped me out a ton the sql book helped me understand the very
basics and build my foundation in sql and these two camera and microphone have been
able to help me become a better youtuber the way the affiliate program works is that if you click
on any of these three links even if you don't buy one of these three products your session
on amazon is now a referral from my channel this doesn't increase your prices it doesn't
actually do anything to your shopping experience all it does is remind amazon who brought them to
the platform and who was the one who instigated that session start so since i was the one that
brought you on amazon whatever you buy before you exit out of that browser
ends up paying me a couple of pennies based on how much the product was worth in terms
of the affiliate program that said i've never pushed the affiliate program links before but
if you do want to support the channel and you're planning on buying something from amazon anyway
start your session with one of these three links below and just buy whatever you want cat litter
bow ties seriously that does help out a lot and is is my third source of income the
fourth source of income fourth source fourth source the fourth source of income is stocks
stocks is a way that a lot of professionals and techies in the bay are able to grow their wealth
by buying certain assets usually in an index fund stocks are a great way to grow your income against
inflation now if you keep your money in a savings account that doesn't have a high
interest rate then you're just ending up losing money when inflation pushes the value
of the dollar lower and lower so therefore by keeping money in something that is less liquid
but has better growth potential such as stocks you are able to start growing your wealth by
essentially doing nothing i started with robin hood back in 2017 and since then my portfolio's
actually performed pretty darn well i'll put a screenshot of it over here and you can look for
yourself wealth specialists often say that you should invest in index funds that is essentially
buying a bunch of stocks that are weighed against a bunch of different companies not just one that
usually is a safer bet but may have less growth potential so that is ultimately up to you and if
you want more information on putting your money in the right place so that it doesn't sit there and
gather dust i will be happy to start a video on that but if you want to get started with robin
hood or sofi which is a platform that i use now i'll be putting a small affiliate link down below
so that you can get started and i can get a small bonus for helping you get started at no cost to
you five the fifth source of income is going to be very similar to the second one which is
coaching once again but hold on they're actually very very different because this type of coaching
involves an income share this is usually coaching for aspiring data scientists who don't have the
funds to pay for coaching now and would like to defer their payments to when they actually get a
job now this is twofold a good idea for the mentee one if they end up getting a job out of their
relationship then it's proof of work by itself if they don't get a job then the mentor doesn't even
get paid and two it's a good idea because this allows you to not have to promise any amount
of money up front and share in the success and align your success parameters with the mentor so
the mentor is more likely to help you out as much as possible and get you a job that much faster so
this source of income is different from number two because it is entirely passive once the mentorship
is over this kind of passive income sets you up for success because it is a lot more money than
any mentee would be willing to pay week to week just take for example a 25 income share that is
going to be 25 000 at the end of the day for a six figure salary now that's not going to be paid all
at once in fact it's only going to be paid a month after they start their income share which is why
this is a great relationship for both the mentee and the mentor the mentor gets to sit back
and start collecting money after the mentee finds success and then the mentee helps incentivize the
mentor to get them the best job possible that's why that is going to be my fifth source of income
six now the sixth source of income is going to be youtube and that's going to be funny to you
because i as of right now am not monetized so when i am going to be monetized in the near future then
youtube is going to start playing small but mighty ads that allow me to share slightly more than 50
of the profits with youtube this is with a third party known as adsense and i need to connect my
adsense once i get monetized and the way that you can help me get monetized faster is by watching
more videos as of right now i already have the prerequisite for getting a thousand subscribers
i want to thank you guys for getting me there but i do not have the 4 000 watch hours yet and once
i do then we would be that much closer to calling this a legit income stream as of right now this is
an iou from youtube essentially i'm doing all of this free work pouring in hours of my week
into this where i could have been coaching could have been hustling and could have been building
and learning into creating free education on youtube and not getting paid a red cent
this is something i'm passionate about so i don't blame youtube for allowing me the opportunity
to chase my dream but as of right now it is a dream that doesn't bear a lot of fruit so i
thank you for being a subscriber hitting that bell button and keeping up and staying up to date and
smashing the heck out of that like button so that we beat the youtube algorithm this is a source of
income that makes millionaire youtubers like graham stefan incredibly rich as graham stefan
points out in his videos where year to year he is doubling tripling and quadrupling his adsense
based on his viewership so one day hopefully we're gonna aim for that mark seven the seventh way is
a little more material way of creating content which is paid content creation like i said all of
the content that you are seeing on my channel is free but i have very recently started talks about
creating materials with 365 data science and that allows me to create content that gets
licensed and sold both on the 365 data science platform and on udemy there are a couple of
reasons why i would choose to create courses in partnership with companies like 365 data signs
one is that part of the contract allows me to collect money from them right away so that is
money that i can use to buy better equipment better sound and drive my behavior to make the
best content out there for the course itself and two is that i'm a self-taught video editor which
means i don't have nearly the same chops that 365 data science and other larger organizations have
and i don't have the ability to create content that will get the same number of eyeballs that 365
data science gets so one is the quality of the work that is the end result and second is the
network that i simply don't have as of right now as a small creator so that wraps up our seventh
stream of income the eighth one is a innovative and exciting opportunity brought to you by my good
friend ken g and that is merch the merch game on youtube is often broken up into multiple different
types of merchandise and processes of creating those merchandises but usually it involves a third
party that creates the merch and another party a fourth party that designs the merch off of ideas
memes and inside jokes that the creators create merch sales revenue works basically the same as
other types of sales revenue the more we sell the more we're able to share in the profits so
that means when those t-shirts caps or whatever kinds of merch maybe some mugs as well come out
i hope to see you on the online store and buying a couple yourself this is gonna be just honest work
that we are putting in to design these mugs and help put a little data science inside jokes out
into the world the ninth forum and the final form of income is patreon now if you've never heard of
patreon before it is a cosmic tip jar for people who want either early access to my content or
a couple of other extra perks that i can offer as a data scientist sitting all the way alone
by himself in the pandemic now usually these go anywhere from seeing my content a day earlier or
being able to talk in a private server and get some free coaching from me or being able
to get a couple of ideas fleshed out in terms of data science education or entrepreneurship
or content that we can build together that's the usual kind of stuff a creator can offer because
once again they're a creator so they can only offer based on their brand and not a lot of
other stuff like stock analysis or data science freelancing i'm pretty sure people wouldn't want
to funnel money into a patreon in order to buy my freelancing services and yes that was a plug
for my patreon if you like the stuff that you see here if you like the quality of the content if you
like the quality of the education and you don't quite have the funds to buy a future t-shirt or
a mug or invest in a coaching mentorship with me then tossing two dollars and buying me a coffee
every month is going to help me out a ton and this is going to be directly returned back to you
and higher quality content and more time spent in researching and developing this material and
making me way happier as a youtuber that creates content like this for you so thanks in advance
check out the patreon just check out the rewards you know just look at it what do you have to lose
do it once again by reaching the end of this video you have proven that you are a very smart
person for spending your time very effectively in the pandemic if you are interested in this kind
of personal finance growth and wealth management kind of video then please hit that subscribe
button hit that like button and in the comments tell me exactly which of these income streams
was the most surprising and which of these do you think has the most potential i am interested in
your analytic skills as an audience base you guys are super duper smart and one of the things that i
want to ask for you is your advice for the moment but not for forever i'll see you guys next time
Peace