Mistakes That Neil and Eric Made While Growing Their Software #1843

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 31 August 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1843, Neil and Eric speak to the biggest mistakes they have made while growing their software. Some of the main lessons our hosts learned include picking software with a large TAM and small churn rate, optimizing for customer development, and more! TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: Mistakes That Neil and Eric Made While Growing Their Software. [01:18] The danger of selling software with a small TAM and big churn. [01:51] Doing customer development and remembering not to undercharge. [02:58] Using the freemium model and having good onboarding. [03:57] Continuously iterating and making your product better. [04:05] Remembering to vet employees and have a focused offer. [04:41] That’s it for today! [04:42] Go to marketingschool.io/live to learn more about our upcoming live event. Get ad-free listening plus exclusive content with Marketing School Pro. Try for free at www.marketingschool.io/pro Links Mentioned in Today’s Episode: Profitwell Tomasz Tunguz Openview 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: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.8	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:17.8	All right guys, before we start, we got a special message from our sponsor.
0:24.1	If you want to rank higher on Google, you got to look at your paid speed time.
0:28.6	The faster your website loads, the better off you are.
0:31.4	With Google's Corvital update, that makes it super, super important to optimize your
0:35.5	site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use, Dreamhost.
0:42.2	So just go to Dreamhost or Google it, find it, check it out, and it's a great way to improve
0:47.7	your low time.
0:48.7	Today, we're going to talk about the mistakes that Neil and I made while growing our software.
0:55.0	So just for context, Neil has Uber suggests, crazy A, he's done a couple of other things
0:59.6	in the past.
1:00.7	We have click flow on our side.
1:02.4	So we have some scar tissue and Neil, you want to start first?
1:06.3	Yeah, the biggest mistake that I made in SaaS is small tabs.
1:13.0	Over the years, I've picked too many small tabs and it just does not work.
1:18.7	It has to be a big tab or you're going to struggle.
1:21.6	When I say big tab in SaaS, it's like a lot of like micro SaaS, like, oh, we got this
1:25.9	Salesforce extension and it does this or plug in and it does this or that or WordPress
	...

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