In episode #633, Eric and Neil discuss why you shouldn’t fall in love with an idea. Tune in to hear what you should love in order to be successful.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Don’t Fall in Love With an Idea
- [00:35] Most startups start with a totally different idea than what they are doing presently.
- [00:54] Don’t fall in love with an idea, fall in love with an industry.
- [01:55] As long as you stick with your industry, you can build upon that experience, as opposed to shifting to something else entirely.
- [02:18] It’s like compound interest: the moment you stop investing, you lose all that interest.
- [02:53] Stay in your lane.
- [03:01] In a Nathan Latka podcast interview, the discussion was about sticking with one industry instead of branching out into the unknown.
- [04:02] You need to love what you do, but make sure you love the industry.
- [04:20] Elon Musk had ZipTo, then Paypal, then SpaceX. Because he jumped industries, he struggled much longer before his success.
- [05:23] It’s like WOW: you need to keep levelling up.
- [06:00] That’s all for today!
- [06:04] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Discover Latest Episodes
In episode #1933, Neil and Eric talk about whether your business should have a phone number listed. Having a phone number listed may seem outdated, but testing has shown that simply listing a phone nu...
In episode #1932, Neil and Eric talk about the economics of buying another business versus building. When you’re deciding whether or not to buy a business, the number one question you should ask you...
In episode #1931, Neil and Eric talk about how to profit off your blog without selling out. If you pivot from your original content in order to sell something, there’s a good chance you’ll feel li...