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Marketing School - Digital Marketing and Online Marketing Tips

So You're Making Money Now... What's Next? | Ep. #666

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.61.4K Ratings

🗓️ 28 May 2018

⏱️ 7 minutes

🧾️ Download transcript

Summary

In episode #666, Eric and Neil discuss what to do with your success. Tune in to hear what your next steps should be. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: So You're Making Money Now... What's Next? [00:48] Neil’s current salary is $0 and he dumps all profits back into his company. [00:55] He has no other passions, so what would he do with the money? [01:10] Neil thinks a business is like a baby and they only want to nurture their baby. [01:30] Take the absolute minimum salary that you would need. Don’t forget you have to pay taxes on your income! [01:45] Putting your profits back into your business is the best ROI. [02:15] The best bet is always the one you take on yourself. [03:05] If you have other aspirations besides your business, that’s cool, but if you want to further your business, always reinvest in it. [03:32] If you’re content and don’t care for more money, take the money and do what makes you happy. [03:50] OR you could hire people to run your business and take it to the next level. [04:22] If you want more, but aren’t a great leader, hire the right people to run your business. [04:45] Be ok with letting go of control. [04:56] Read the book Rocket Fuel for inspiration. [05:10] The COO Alliance is the only organization in the world that wants to help the number 2 leader in every company. [05:37] Invest in your number 2, because they will be the driving force of your company. [05:44] That’s it for today! [05:47] 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: 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

Get ready for your daily dose of marketing strategies and tactics from

0:06.8

entrepreneurs with the guile and experience to help you find success in any

0:11.4

marketing capacity. You're listening to marketing school

0:14.5

with your instructors Neil Patel and Eric Sue.

0:19.4

All right guys before we start we got a special message from our sponsor.

0:27.0

If you want to rank higher on Google, you got to look at your page speed time.

0:31.5

The faster your website loads, the better off you are. With

0:34.4

Google's core vital update, that makes it super, super important to optimize your

0:38.5

site for low time. And one easy way to do it is use the host that Eric and I use dream

0:44.5

host so just go to dream host or Google it find it check it out and it's a great way

0:49.7

to improve your low time.

0:52.3

Welcome to another episode of Marketing School.

0:55.0

I'm Eric Sue.

0:56.0

And I'm Neil Patel.

0:57.0

And today, well, we're going to talk about, well, you know,

1:00.0

you're making money and what's next.

1:02.0

And this topic actually came from a video

1:04.4

that Neil has on his YouTube channel about well so I actually ask him this

1:09.2

question well Neil what do you do with the money what your salary, all this kind of stuff, and maybe you

1:14.4

could just answer that question again for this podcast.

1:17.0

Yeah, so my current salary is zero, and I just dump all my money back into the business.

1:22.0

Yeah, so what's the reasoning for that?

...

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