The Best Financial Advice for Getting Rich as an Entrepreneur | Ep. #505

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Business, Careers

4.6 • 1.4K Ratings

🗓️ 18 December 2017

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On Episode #505, Eric and Neil discuss the best financial advice for getting rich as an entrepreneur. Tune in to hear what Eric and Neil say is the best possible thing to do in order to achieve financial and professional success. Time-Stamped Show Notes: [00:27] Today’s Topic: The Best Financial Advice for Getting Rich as an Entrepreneur [00:35] Eric poses the question: When you’re starting out and you make money, what are you going to do with said money? [00:50] Eric’s best advice is to re-invest your profits in your company. [01:02] Elon Musk has said that the best investment is in yourself; it’s something you can control. [01:21] Neil’s advice is to focus on one thing in terms of your investments. [01:45] If you want to get rich and do well, focus on one thing and become an expert at it. [02:43] Figure out what you’re the best at and monetize it. [03:03] Neil attempts to monetize being a great digital marketer. [03:30] Eric says to think of being successful as a circle. Think of the edge of the circle as achieving success and you will never reach the edge of the circle if you aren’t focused on one point along the edge. [04:18] Warren Buffett only invests in things he completely understands, which is why he doesn’t invest in Microsoft. [04:45] That’s it for today! [04:47] Eric and Neil recommend the Problem Solvers podcast, because there is a great episode about the Hello Fresh CEO. To listen go to singlegrain.com/solve. 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

Click on a timestamp to play from that location

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
0:49.3	great way to improve your load time.
0:51.6	Welcome to another episode of Marketing School.
0:55.0	I'm Erritu.
0:57.0	And I'm Neil Patel, and today we are going to talk about the best financial advice
1:01.0	for getting rich as an entrepreneur. So I'll start really quick. Here's the thing.
1:05.1	Here's my question to you. When you're starting out and you're making all this money, let's
1:09.0	say you make a million dollars, what are you going to do with the money? What do you
1:12.2	have the use for, right?
1:13.0	I'm sure you know, you all have your different uses for things like that,
1:15.8	but when you have that much money, my thing is this.
1:18.2	If you're making that, why don't you just reinvest it?
1:20.6	That's my advice, right?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Eric Siu and Neil Patel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Eric Siu and Neil Patel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.