What We Do with Our Profits #1732

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 12 May 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

What We Do with Our Profits In episode #1732, we talk about what we do with our profits. Many young entrepreneurs who find early success feel tempted to spend their profit on status symbols. For us, the best thing you can do with your profit is to put as much of it back into your business as possible. The best thing you can do is invest in yourself, get better each day, and have fun along the way! TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: What We Do with Our Profits. [00:27] What we used to do with our profits. [00:40] The danger of burning profit on things that show status. [01:24] Why you should put your profits back into your business. [02:05] Taking more profit for yourself when you have a family. [02:54] Eric and Neil’s memories of Neil’s mid-twenties lifestyle. [03:55] Having fun and getting better each day. [03:19] Text us at 310-349-3785! Links Mentioned in Today’s Episode: Alex Becker on Twitter 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.
0:11.4	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, DreamHouse.
0:42.1	So just go to DreamHouse or Google it, find it, check it out, and it's a great way to
0:47.1	improve your low time.
0:48.6	All right, so today it's fun episode.
0:52.1	We're going to talk about what we do with our profits.
0:54.4	But first, we should talk about what we did with our profits when we were a younger
0:57.3	Neil.
0:58.3	What did you do with your profits when you were younger?
0:59.3	When I was younger, I burned all my profits back into the business and sometimes I burned
1:04.3	more than the amount of profit I had and I had a borrow money to repay the extra money
1:09.4	that I spent.
1:10.4	Yeah.
1:11.4	Funny enough.
	...

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