What Eric learned from a guy $800m in debt, Lessons learned from Robert Kiyosaki (Rich Dad, Poor Dad), and Spraying your advertising everywhere isn't a guaranteed way to win; it's a guaranteed way to burn money

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 16 September 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode #2821, Eric Siu and Neil Patel discuss lessons from Ken McElroy's experiences, Robert Kiyosaki's views on debt and financial strategies, the pitfalls of over-marketing, and the need for a balance between branding and performance in business. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT) TIME-STAMPED SHOW NOTES: (00:00) What Eric learned from a guy $800m in debt (06:35) What Eric learned from Robert Kiyosaki (Rich Dad Poor Dad author) (09:52) Spraying your advertising everywhere isn't a guaranteed way to win, it's a guaranteed way to burn money (16:39) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! 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: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu

Transcript

Click on a timestamp to play from that location

0:00.0	You know what I learned from two people that are collectively in two billion dollars, two billion dollars in debt?
0:06.0	Sure. I'm assuming one's 800 billion in debt, one's 1.2 billion in debt.
0:12.0	Exactly.
0:13.0	That's good math.
0:14.0	So I spoke at an event this past week
0:17.0	and it was my friend's event called Limitless
0:20.0	and it's my friend, his name's Rob, sorry, it's Ken McElroy is his name, also YPO member.
0:26.9	And then, so he has 800 million in debt, right?
0:30.4	And then I also spoke to Robert Kiosaki, who's 1.2 billion dollars in that.
0:34.7	So he wrote Rich Dad, Poor Dad.
0:36.1	The guys like 77 years old now.
0:37.8	So I did a podcast with both of them.
0:39.6	And you know, Robert's whole thing is like, I love debt. That is great. There's good debt and there's bad debt. He's like, you know, I'm friends with Dave Ramsey. Dave Ramsey is like, don't take on debt whatever. He's like, I love debt, right? You know, debt and you know, you're familiar, you're pretty familiar with this stuff this stuff too is just like at the end of the day
0:55.3	the tax benefits that they get the depreciation and you know him saying you know I take on all this
1:02.1	debt so I don't have to pay taxes, like, you know, he's saying that there's no downsides, right?
1:06.6	But I want to talk about what I learned about.
1:10.4	So what I was safe with Ken McElroy, which I think I told you on on the phone already but I think this is helpful for everyone to know is that if you actually want your business to grow
1:18.8	It's not by focusing on your business first so what I mean by that so in your 30s in your 20s you're cranking on your business first. So what do I mean by that? So in your 30s, in your 20s, you're cranking on your business, right?
1:25.2	But you can't focus on your business forever.
1:26.8	And his whole thing was, he was spending way too much time
1:29.4	on his business.
1:30.8	My friend and I, we asked him a question,
	...

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.