In episode #540, Eric and Neil discuss the very best advice for people who are just starting out. Tune in to hear what one piece of advice they wish they had heeded when they were in their twenties.
Time-Stamped Show Notes:
- [00:27] Today’s Topic: The Ultimate Advice for Every 20 Year Old
- [00:33] At 20, Eric was unsure of his future.
- [00:59] You have to roll with the punches, stay the course, and be patient.
- [01:05] When Eric went to Japan, he met a number of business owners, including one who focused solely on marketing within Pachenko games.
- [01:30] 20-25 years into the business, he now has 20 offices around the world, a publicly traded marketing agency, and $200,000,000 in business.
- [01:58] The key is to be open-minded and to constantly be learning from others.
- [02:20] Stay with a project: good things will happen if you put in the work.
- [02:45] When Neil started out, he attempted to do too many things at once, instead of focusing on one project. If he had focused, he would probably be more financially successful.
- [03:12] As you are creating your business, your game plan is probably going to change, as will the industry in which you are investing.
- [03:55] In most cases, the business you start will most likely not be the business you end up with.
- [04:43] Warren Buffett didn’t get to where he is right away. He reached success at the middle point of his career.
- [05:03] Gary Vee started out helping his dad with a wine store, moved it online, began marketing it online, then eventually his career path became about marketing. He grew and adapted.
- [05:34] Things don’t blow up overnight: it takes hard work and persistence.
- [06:18] When Jeff Bezos started Amazon, they had little to no profit margin; today, it is a major corporation that brings in tons of revenue.
- [06:50] He’s a good example of a guy who stuck to his guns.
- [07:05] Once you focus on one thing, don’t be afraid to disrupt things.
- [07:18] Neil’s version of disruption is that he is creating software, but he wants to make it free and accessible to all; he believes software should be free.
- [07:50] Check out all the tools at NeilPatel.com or Quicksprout.com.
- [07:54] They just launched A/B testing and WYSIWYG, where any website can be CMS.
- [08:15] Ultimately, the message is to be patient, focus on one project, and stay the course.
- [09:00] Eric has other businesses, but they cost him time and money. If he could go back, he would only focus on the agency.
- [09:35] He thinks the agency would be five times as successful if he had focused solely on that.
- [09:44] That’s it for today!
- [09:46] Go to Singlegrain.com/Giveway for a special edition of Crazy Egg, the heat mapping tool.
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