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Every time I start a company, I find people to put in place that have already done it multiple times before. because your risk of failure are lower, and they already know everything to do. So I don't have to deal with client relationships, I don't have to deal with customer service or anything like that. I get to do what I enjoy doing.

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And the notion that if you hire someone for 150,000 , I'm not saying you're saying this. It doesn't necessarily mean they're a better employee right?

Engineers for an example, are very expensive in this economy, right. So the point I'm getting at is, a consulting company, I had the demand for. A lot of people wanted to pay me for marketing. And there was just so much demand, it would've been silly not to do. And if I'm not trying to go public or I'm not trying to sell. Money's money, green is green. As long as you're happy doing what you're doing. Take the cash.

I wouldn't say I would never sell the company, but I don't care to ever sell the company. 'Cos I love what I'm doing. We also have good growth too, right. Like I don't know what we'll grow this year. 60 something percent, which isn't bad. You know, with the market going up and down and fluctuating. 60 something percent is my guess. At our size is decent.

I think you're you're totally right that like if you're going to win big, you're going to end up with a bunch of employees. And like, you know, it might look like 150. It might look like a thousand. It might look like 10,000. But like, you know, in either case you're going to have managerial work and headaches. And it's just different types. The part I was really talking about was like, you know I've now built let's say a media company content. And then it's like done educational stuff. So courses which are like, you know, a different thing. And then there's like a built software company, and you know, we ended up selling that one and then it's like, and then there's services. Which is like client services. Like consulting or agency model. And what I hate.

So like, you know, the hustle or like the milk road or this podcast. It's like we have to come on and create the content again. You know, for the most part we're not doing like super long evergreen stuff. So you know, like with the hustles, the daily newsletter, milk roads, the daily newsletter. We got to bake that cake every day. Whereas software, it was like we built one product and yes we might. We will improve it over the course of a year. You know, every year we're going to improve it. But like fundamentally, we didn't have to like recreate the product. Come up with a new viral story, or a new great content segment that would like require like a new genius. With software, it's like you come up with one genius moment. And then you sort of refine it.

So I preferred that part of software, which was like making a product. Rather than making kind of like a disposable, you know, consumable piece of content. Or like I have a e-commerce company and like, it's a pain in the ass to have physical products that are supply chain, constrained and like we have a warehouse. We got warehouse problems with our e-commerce business. And so I'm like man, digital is sweet compared to e-commerce. But e-commerce is quite profitable.

The part I always thought was a pain in the ass was like the client services. You are reinventing the next campaign. And the next winning marketing, you know, formula for them. And you have to keep clients happy all the time. And clients are sort of like never satisfied in a way that like. If software is like, you can have nameless faceless customers.

In software, a lot of people have tons of those issues and they can't figure it out. Or they have competitors who come into the marketplace and just undercut them on pricing for the same features. 'Cos it's cheaper and cheaper to build software these days, right.

So they all have their own problem. To me I look at it as, if you can find the right people. So every time I start a company I find in people to put in place that have already done it multiple times before. 'Cos your risk of failure are lower. And they already know everything to do. So, I don't have to deal with client relationships. I don't have to deal with customer service or anything like that. I get to do what I enjoy doing. Which is go and create content, be the face, et cetera.

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#BusinessGrowth #Entrepreneurship #successtips

Published: Thursday, May 4, 2023 11:33 PM
Category: Neil Patel

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