If I Wanted to Build a $5M Creator Business in 2024, I’d Do This | 033

In this episode, Nathan is joined by Ricky Zhang, the founder and CEO of Prince of Travel.They delve into Ricky’s creator business and the specific strategies he can employ to scale it from $1.3 million to $5 million and beyond.Tune in for an insightful conversation on effective revenue models, leadership in a growing team, and the incremental skill-building essential for business growth.Timestamps:00:00 Introduction00:44 Revenue Breakdown02:14 Advertising vs. Product Revenue04:08 ROI on Creator Economy Attention07:07 Growing Your Team09:11 Creator Business Products11:58 Skills Needed to Start a Business14:13 Ladders of Wealth Creation18:12 Skills Needed to Scale a Business19:42 Leadership and Responsibility Challenges22:29 Analyzing Competitors26:24 Expanding the Market28:47 Advice for Aspiring CreatorsIf you enjoyed this episode, please like and subscribe, share it with your friends, and leave us a review. We read every single one.Know more about Billion Dollar Creator: https://www.billiondollarcreator.com/Follow Nathan:Instagram: https://www.instagram.com/nathanbarry/LinkedIn: https://www.linkedin.com/in/nathanbarry/Twitter: https://twitter.com/nathanbarryWebsite: https://nathanbarry.com/Follow Ricky:Instagram: https://www.instagram.com/realricky/LinkedIn: https://www.linkedin.com/in/realricky/YouTube: https://www.youtube.com/@_RickyWebsite: https://princeoftravel.com/Featured in this episode:ConvertKit: https://convertkit.com/Andrew Huberman: https://www.hubermanlab.com/Tim Ferriss: https://tim.blog/James Clear: https://jamesclear.com/Ladders of Wealth Creation: https://nathanbarry.com/wealth-creation/The Points Guy: https://thepointsguy.com/Highlights:04:07 Creators are the best in the world at capturing attention09:11 The Strip Mall vs. Skyscraper Approach14:13 The ladders of wealth creation: a step-by-step guide to building wealth20:48 Team leadership for introverts30:00 You Today vs. You One Year Ago