Personal Motivation: What Drives You To Succeed? | Business Advice from Neil Patel: Hello, Everyone Today I am going to share some exciting facts on the Personal Motivation: What Drives You To Succeed? | Business Advice from Neil Patel

Personal Motivation: What Drives You To Succeed? | Business Advice from Neil Patel

 

                                    – [Interviewer] So Neil, what kind of drives you

every morning?
When you wake up in the morning, and you’re one
of the busiest guys I know, what motivates you
to keep going, keep pushing forward,
and making all this happen?
– Losing.
I know I’m not the biggest company,
I know some of my competitors are bigger than me.
Losing.
I don’t have goals trying to make X dollars
or anything like that.
My goal is really simple.
Beat my competitors.
And I’m so competitive, and I wanna do whatever it is
to crush ’em.
I’m doing this new strategy.
This is gonna sound crazy.
I was dealing with Nadav from InboundJunction
the other day ’cause we were working
on promotion strategies,
and we were talking about Hotjar
and a few of the other competitors, and he’s like,
“What are you gonna do?”
I’m like, “I’m gonna release more stuff for free.”
– [Interviewer] Mm-hmm.
– And he’s like, “How are you gonna make money?”
I’m like, “I don’t care.
“I’m gonna crush ’em.
“That’s it.”
Like seriously, I will lose revenue
to crush my competitors.
It’s kinda crazy and sometimes in many cases, silly.
Even in marketing.
I’m buying a lot of tools right now,
and I’m creating a lot of marketing tools.
I release a keyword tool similar to keywordtool.io,
and mine’s called Ubersuggest, and I ended up buying it out.
I discussed that in the previous video.
I release their paid features for free.
There’s no reason to pay for them.
You don’t even need a log-in, you can use the unlimited.
I don’t care.
Use it away.
It costs me money each month.
The next person I’m gonna go after is SEMrush.
I have so much keyword data.
Once I get enough, I’m gonna create 20%
of their main features that most people use,
and release their whole product for free.
I’m gonna take 20% to 30% of what people use in Moz,
as well as all the other SEO features I like in tools,
and give it all away for free.
I don’t care to make $1.
You know, people have a freemium concept.
Oh, you do it for free, Neil, then you’re gonna
upsell people?
No.
My freemium is gonna be free.
Upsell?
Nothing.
Just use it for free.
I believe who controls the most audience and the mindshare
is gonna win. And here’s my marketing tip for anyone,
especially you guys who are watching.
The world is changing so fast that technology
is adapting and everything is becoming so cheap.
Jeff Bezos once had a quote saying
“Your margin is my opportunity”
I took that to heart. In which, take whatever
competitors are doing, and just undercut them on price.
Make it less, and if you can make it free.
And make your money on the high end of the market.
That’s at least what I’m going to do.
And that’s my strategy that I’m doing a lot in 2018.
And I believe you just go out there,
undercut everyone, market to get the audience,
and when you have a free product or service,
you don’t have to spend that much on marketing.
You don’t have to deal with the expensive
Google Adwords cost, the Facebook ad cost,
and you can just do it really
simple in which, you’re going out there
product markets itself, it grows,
and then eventually you can figure out how to monetize.
Think of it as a media company,
whoever controls the most eyeballs
within that industry, in the long run, is gonna win.
So, I’m willing to lose money or make a lot of things
for free because it’s so cheap these days
that hey, I can do a lot of stuff just with API.
To give you guys an example, I was looking at Moz’s
server expenses, I think it was around
two hundred thousand dollars a month in expenses.
They released an annual report.
And they have this tack free code or mentality of ethics
which is awesome. And one of the line items was server cost.
These days I can crawl five hundred thousand web pages
and SEO feedback, you know what my server cost on that is?
120 dollars. That’s it.
120 dollars to use someone else’s API
to give me suggestions on
five hundred thousand web pages, unlimited websites
unlimited domains, just 120 bucks.
You know how many sites I can reach out with that?
So what keeps me motivated is crushing my competitors,
giving everything away for free.
And eventually winning mindshare.

And that’s my goal. If I beat everyone

and take their user base, cuz I’m doing everything for free

eventually when I have that mindshare

or that audience. I’ll figure out how to monetize
by just going after that 1% being the fortune 1000,
or whatever it may be. Because one customer can end up
paying you enough where it makes up for
all of your expenses, plus more.
That’s what keeps me motivated.