Rich from Get It Done Entrepreneurs and Neil discuss common marketing mistakes and how to avoid them.
0:35 How Neil started his company
4:21 Tip #1 | Focus
5:12 Tip #2 | Financial
6:16 About NPDigital
7:49 Tip #3 | Book Recommendations
8:19 Tip #4 | Managing in Economic Downturn
11:32 Tip #5 | Changing Trends
12:33 Tip #6 | If you’re thinking of starting your own business…
13:31 Tip #7 | Revenue Streams
RESOURCES & LINKS:
Hustle by Neil Patel: https://a.co/d/4WlmNwp
Principles: Life & Work by Ray Dalio: https://a.co/d/e9cRAwN
I started becoming an entrepreneur when I was around 15 and a half. And you know at the time, I was looking for a job, couldn’t find a job. I created a job board and it got little to know visitors. And the reason behind this was is I wanted to make money. Usually, you want to start something because you’re solving a problem, and you see a pain point. I wanted to become an entrepreneur because I just wanted money. And when I created my job board, popped it up, and paid some people to help me out, no one came to it. And it was at that moment I had to learn marketing and I got decent at it. Started driving traffic to the job board, reading articles, going to events, experimenting, and trying to get good at by myself because I didn’t have really any money to pay too many firms to help me out. And after six months, seven months, I started getting good amount of traffic, almost a hundred thousand visitors a month. I was like, holy crap.
Fast forward to where I am, I did a lot of startups in between, but the main company I focused on today is NP Digital, which was short for Neil Patel Digital. And my ad agency, we help drive traffic in sales and we love. We now have 750+ people that work for us. We’re still growing nicely, getting headwinds from the economy I’m assuming like a lot of people are though.
The big thing that I learned is it’s hard to make money just because you want to make money. It’s easy to make money if you’re good at solving a problem that a lot of people are facing. So, solve a problem. That’s what you should dive in. And if you’re passionate about what that problem is and the solution you’re going to provide, you’re going to do much better than other people out there who are just doing it for the money. Because when you’re passionate, you’re putting in the time, energy, the resources that you need to succeed.
When I first started off, I would start helping people get more traffic. I did one too many ventures. If I just focused on an ad agency. Eventually, it went full circle. So, I had an ad agency back in the day, didn’t like it. Created some other companies. Five years ago I created another ad agency, that’s NP Digital. But if I stuck with it the whole time, I would’ve been way better off in life.
Saving money was big because a lot of times when you want to make decisions, it’s expensive or you may not make as much. My mom always taught me when I was younger, it’s easier to save it than it’s to make it. So, saving does help quite a bit. The other big thing that I ended up learning the hard way was, if you do too many things at once, you’re never going to put enough time and energy into one thing to make it successful enough.
Algorithms keep changing. You got to keep adapting to it, which sucks. But what’s funny was on a podcast interview yesterday, and the guy’s like, well if they didn’t adapt, then people wouldn’t need you. I’m like, yeah, that’s true. That’s a good way of looking at it. But I’d rather it be easier for the customers. Forget me making money, what’s best for them is something that’s easier to execute than something that’s harder.
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