In episode #1020, we discuss Neil’s billion dollar mistake. Tune in to hear where Neil went wrong. We have committed to throwing a FREE Marketing School Live Event in Los Angeles. Check out the details on this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested! DM Eric if you would like to participate in the VIP dinner. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Neil’s Billion Dollar Mistake [00:40] Kissmetrics was part of the mistake. [01:05] Neil’s former partner broke down their mistake in a blog post on Product Habits. [01:28] They built a product they thought was needed. [01:40] They learned no matter what you build, people don’t want to pay for things. [01:55] Version 2 required too much customization. [02:40] They found people couldn’t get a lot of value out of their Google Analytics. [03:05] Neil and his partner just needed to find what the gaps were, but it took them too long. [03:50] Kissmetrics feel behind the crowd. [04:10] They would often change directions, which was not a good idea and not great for the team. [04:30] They should have executed quickly, but they didn’t or couldn’t. [05:20] Neil thinks they made too many mistakes. [05:30] The biggest issue was a class action litigation. [06:00] They can only blame themselves. [06:04] They spent too many years building the wrong product and didn’t know how to innovate. [06:06] That’s it for today! [06:17] Don’t forget to check out Single Grain for more info about our free live event in June. 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.