How to Start a Business and Grow it to a Billion Dollar Company
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- Опубліковано 15 гру 2017
- So you want to learn how to start a business...but not just any business, a BILLION DOLLAR business. Follow these steps and it just might be possible.
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It's not about how hard you're working, or how smart people you have on your team because you know what, to create a million dollar business or a multi-million dollar business, you need that as well.
But the difference between creating a business that does hundreds of millions, versus billions of dollars is you need a business that solves a problem for a really big market cap.
One of my first businesses is called Crazy Egg. A lot of businesses are using it.
We have hundreds and thousands of companies that are using Crazy Egg every single month.
And what it does is it helps you optimize your website, so that way more of your visitors convert into customers, and that's a decent pain that a lot of people are experiencing. But here's a problem, and here's why Crazy will never be a billion-dollar business.
It doesn't solve a big enough problem. Now think about Uber on the other hand. They're solving transportation problems. They're making it more efficient for you to get to one place, to another, and spending less money doing that, and best of all, you don't even have to drive. You can be a poor person, and now you can have a driver just like those rich people have.
Uber is solving a huge problem. It was such a big problem that they increased the market size of the whole taxi industry. That's right, before Uber, the taxi industry was smaller. They didn't just take a portion of the taxi industry, they grew it, and making it way bigger. So if you don't solve a big problem, and go after a huge market, you're not going to create a billion-dollar business. Now whatever idea you have, you have somewhat competitors. It may not be direct competitors like Uber's not directly competing with taxis.
A lot of people aren't like should I take a taxi, or Uber, it's more so they're like oh I need to go to a place, I'd rather have an Uber, versus having my car. Like me, I don't even drive, right, but when I'm in New York it's easier to grab a cab, then it is to grab Uber in most cases. But if you're not going after a really big market, you won't do well.
So if you go after something big like a Salesforce's market size or the CRM market, and let's say they're worth 50 billion.
Will we be bigger than Salesforce? If you dream it, maybe it'll happen.
But chances are you're not, but that's okay. If you're, you know, 5% of Salesforce, you're still a billion dollar company.
And if you go after a huge market size, even if you take 1% of it, you can do well.
And that's why you see me creating multiple products in the marketing space. It's not that I want four, or five different companies, it's because I can combine them all, and I eventually will, and I can have a business that's going after a really big TAM. Total addressable market.
And if you go after a big market, what does that mean? You can have a big company. So if you're not sure if your idea is going to be big enough, where you can hit that billion dollar mark, leave a comment, and I'll respond, and I'll tell you if it's a big enough idea.
And if you're unsure, and you need help, go to Google Finance, you can see other publicly traded companies, and their financials, that'll help you determine if idea's a good idea.
You can just type in a stock hold like Apple, AAPL, and it'll reveal their stock price, and market cap. The other thing you can do is to look at Google Trends and type in keywords related to your space, and it'll show you how many people are searching for stuff related to your space, like the word computers. - Навчання та стиль
Hello neil
thanks for your video
my business idea is to make a company like beachbody in the middle east
we do not have any company in the middle east the produce any fitness programe
what you think about this , and whats your advice about that
Thanks as always for your nuggets of wisdom, Neil! It is so true, the money you make is relative on how big a problem you're solving or how many people you are helping.
Thanks for the kind words!
Thanks again, plenty of sensible realistic advice!
Happy to help my friend!
I can’t thank you enough Neil, you have a tremendous amount of energy, time and knowledge. You’re always impressing me. May you have time to give me ideas regarding VOIP. If you make it in detail, that means a lot for me. Thank you!
I’m 15 right now, I’m currently starting an online ecommerce business. I have learnt more in the last month than my whole life. I am living in the uk, and have a few good business ideas to start after I’ve made some money and I’ll get on with them. I’d love to move to the USA one day. Hopefully in a few years assuming everything goes well. You’ve helped me massively progress towards my dreams. I don’t massively fit in in the uk because I am very conservative and I do shooting and will pursue that more in the USA but here everyone is always trying to tell people that they can’t. They can’t succeed, they can live a better life working for someone else, whatever shit they say is silly. I will prove them wrong one day when I have solved huge problems that may even affect them. Then who’ll be laughing? Eh? Anyway, thanks for the tips. One day I will look back at life and without these videos I wouldn’t have succeeded. Ps a school teacher of mine was an entrepreneur before he had to stop because of family issues and became a teacher. He was worth about £25 million. Great mentor aswell. Good guy.
Anyway, thanks for reading and thanks!
Thanks for sharing, Alec and best of luck with your ecommerce business!!
Thanks for the advice! 👌🏽💯💭
Excellent medium for weekly tips, i like both you and brian. Feels like you're giving extra 1% more. Thank you neil
I appreciate that
Hi Neil, love your content bro very helpful. Just wondering if you could help me, I want to set up a holiday resort but something that isn’t the same as what is in my whole county so what do you suggest on how to start up? The help would be much appreciated
Hi Niel i have an idea to do with furniture that focuses on the flat pack side of it, but is this a big enough industry or should i just aim at furniture in general not at innovating flat pack furniture? Thanks
If your idea rests on flat pack furniture, go with that. Specializing isn't a bad thing.
you can learn from Ikea
hey Neil, you are so cool that you are helping us and inspiring us to build a multi-billionaire company!
hope that if I set up my company like you say in future I would like to meet you personally as a friend
If you ever see me, feel free to say hello.
Thanks for the inspiration Neil. What about the music business that's more focused on improving the experience, entertainment, not necessarily solving real pain points?
You may need to promote your music to get in front of more new people :)
Dude, I already liked you as a person & totally respect you as a tech/business personality, but great video👏🏾! Once again your wealth of knowledge astonishes me, but every time I see you you’re more relaxed. This video didn’t just teach... yo, I was laughing at your expressive mannerisms when describing market caps & the people that you knew.Thanks for being 💯yourself dude. (2 - Questions; 1) Do you know if Bing have a “product” that does the same thing google trends does? 2) Have you ever of [menu research] as a product?
Thanks for the kind feedback! 1. Bing earns money primarily from ad sales, if I'm not mistaken. 2. Yes, I have. It's based on psychological principles.
I'm going after food and small business solutions. Slapping together different new platforms with a sprinkle of BPO and then hitting them with ideal customer service. ie web-based distribution platforms with buyers and sellers of produce. It doesn't make sense how a business with under 2 mil revenue has a full-time American accountant(QBO+BPO). The rate at which apps are made and the rest of the world comes online. You lose if you're not combining all the latest and greatest and staying ahead of the game. So I guess its an affordable small to medium business solutions company? Your the best Neal. TY
I think you're probably right. Best of luck to you!
That Woo Hoo Hoo Hoo Hoo made this my favorite video in your series. hhhaha. I've been watching and learning all day. Your content is a gold mine!
:-) Thanks so much for your kind feedback!
I’m so grateful I found you. Thanks again for the awesome advice
So glad!
Thank You And Love You
Glad you like my work!
Do you think customer consumable robots or robots that can perform useful taks (for example bringing you food or watering you plants for cheap) a good markert to pursue.
Anything that adds value to peoples life is going to be a good market!
@@neilpatel Ok thank you!
Thanks for idea! my passion mostly in music. Music as consumer product and another industries which have direct connection with music itself (instruments- accecories etc) so what kind idea you think.I can try ? And how long trial should be last for getting right conclusions? Thanks a lot
You can test different trials to see what works the best for your target audience :)
BEST VIDEO EVER!!!! exactly what i was looking for years!!! MARKET CAP!!!
That's great to hear :)
Bringing different perspective to this. Love it
Thanks!
The biggest sign that I have noticed in successful personalities is they always try to be in touch with their supporters. Neil Patel also does the same. 😊
I definitely do!
Yess.
Neil, how about automation for Siemens Teamcenter? Using an open source software through SOA to automate testing after deployment on the Teamcenter platform?
I haven't tested that, Chris. Have you? If so, how were the results?
Is the music market, like Spotify and stuff like that good?
Hey Neil, I've been loving all of your videos, keep them up!
Thanks a lot!
Sir i created a new wordpress site on .com domain now what should i do next i mean should i write directly post or do something else
Start writing!
Hi Neil thank you so much. This is the 4th video I watched from you today.! I have a question if you don't mind. In terms of market size how big is big enough?
This question depends on a lot of factors. You can have a huge audience with an inexpensive product, or you can have a very small audience with an expensive product. Both work fine :) So I guess what I'm saying is, keep the ROI in mind.
@@neilpatel thank you so much:)
Hi Neil! I am thinking of starting a music blog mainly an interaction platform, selling music-related items through affiliates....what another way can I include to expand in my area?
Why someone would pay for what they get for free. Sorry but music industry is shutting down!
You need a way to capture market share.
I don't have a perticular idea for a business but I want something quick and easy to get up and start generating money that would help me to buy some time to really think and focus on the main project.
So any ideas for a quick business,big enough in income?
It's very difficult to grow a business that you're not passionate about.
Hi neil, im starting up a worpdress maintenance agency since its the only skill i have for now. Is it a good thing to start small then eventually go for that big market size? Or what could advice? TIA
Start small and get it down to a science. Then scale up.
How the Wordpress maintenance agency go?
I want to build a software name Mail in the Cloud. Basically right now there are Softwares like outlook and other email clients but let say if you have multiple emails to configure on outlook then you will have to configure the all emails again on mobile and desktop and other devices. But my email client will be Centralized so all the email settings will be synced automatically to all the devices. What do you think of the idea? Thanks, Neil
I think it sounds great, friend :) Intuitive!
My first ideal is to create a company that install Solar panels for larger and small businesses is this a billion dollars company?
My next one is have a charge station where u will be able to charge your car but get gasoline to because there are still companies that produced the engine is this a billion dollars company? Love to hear your opinion
Both are excellent ideas. You just need the infrastructure and manufacturing.
Great video Neil! Really enjoy your work and blog. Developing a B2B SaaS and marketplace leveraging crypto. Thoughts?
Focus on building your brand first and foremost. Make it the most attractive option on the market.
Thanks Neil, great advice.
@@jamesbalcer4722 Hey James did you still go ahead with your SaaS?
SAP is a good example of a company like this. Neil, it is not clear the end of the video for me. Where to obtain ideas of these TAMs?
Check out Google Finance. It will tell you about the biggest publicly traded companies.
I want to be as good as you in Marketing dear Neil! :) I'm a TOTAL BEGINNER. Where do I start? can you get me in the right direction. I want to start learning everyday. Is there a program you offer that can take a total beginner to becoming an expert like yourself.
Start with my blog! Neilpatel.com/blog You can also check back. I often offer online courses.
Neil Patel wonderful video as always! I love how your videos are short and sweet too. I have an idea. What do you think about a business idea that specialises in an aspect / niche subject area of Digital Content Marketing that starts from services, alongside a value-driven Blog and is then scaled up to Education Commerce? Please be brutally honest! (Is this more million dollar than billion dollar idea??) Thanks and keep up the great work! 🏆
Thanks for your kind words, Vanessa! I think that's an excellent idea. Lots of people have followed that framework to great success. The potential value of it depends a lot on the niche and its target market. Good luck!
Neil Patel Thank you so much for your valuable advice. Your kindness, wisdom and knowledge will never go unnoticed or unappreciated! As always, keep up the fantastic work! 🏆
hey Neil..great content ..u probably have became my idol now....I wish I could think about a solution which can benefit hue part of the population.
Your always so informative and encouraging growth.. Great job man!
Thank you!!
Hey Neil, What do you think about eCommerce (Targeting 1 city).
I mean where i live. Does it make a difference if you offer same day delivery or exciting products that you're getting from the local market
It is worth testing to see how it works for your particular market/audience.
I want to start online business in gardening ? IN herbs ,plants , seeds, and pots etc. BUT problem is does market exist for gardening business on online? AND how to market it and also how to provide value to customers in this ? Please advice me
I'm sure there's a market there online! Use Ubersuggest to do keyword research and see how big your potential audience could be!
Hi i have some questions about starting a company that involves digital products and would like advice to which education path is best suitable.. I would like to study digital design instead of general business, is it a good idea?
I'd say digital design would be a good one :) You can always partner up with someone who can handle the business side of things as well. That way you have the digital expertise and they have the business skills.
@@neilpatel So i dont have time to do a 4 year degree anymore m 27, is it too late? Im thinking of doing a bootcamp or dipoma, but wouldnt those 2 options be too little credential to start a company? What would people think?
Hey neil^^ I've been planning to make a voip startup. My concept is very technical but the basic idea is to make a voip service similar like Skype so basically using wifi to initiate calls however it's supposed to be a voip software that works seamlessly with the smartphone itself rather than through an app so you can initiate calls by touching a sensor at the side of your phone like on the s10 that's not all of course. The end goal is to say goodbye to phone numbers thus reducing phone costs
Best of luck :)
im a digital marketing executive in a company.
i want to start my owned business.
Can you do a video about: how to find or create a product or service that can build a business. Thank Neil.
Sure, I'll definitely consider that for a future article. Thanks for the suggestion!
Hi Neil - I m going after the carpooling market in Quebec Canada - then maybe the rest of the world - Would you consider that a big market ?
I'm not really familiar enough with the market to say so. You would be, however, going up against monsters like Uber so make sure what you are providing is different
Nice work.i want to start business in dropshipping or affliate market but i am new dont know what to do
Thanks!
Neil Patel hmm plz guide me to dive in aa good niche bcz its sooo confusing
Good tip. Thank you.
You're welcome!
What are your thoughts on a CPR first aid business. It's always a need for it so I am trying to start a business offering that
I am not sure how you can make a business out of that...
What an energy Neil! Keep going
Thanks!
@@neilpatel Hey, I just discovered your channel. I have a idea for an animation studio. I feel I can make it happen within the next year. What should I first do to get my business off the ground?
@@stanconsulting8244 Okay, but what "products" do I test on social media? Its an animation studio, so do I just show my followers animation shorts I make? Like on UA-cam?
@@stanconsulting8244 Thank you!
Hello Sir, I just want to know whether revolutionary online courses can become new big market in India.
Please let me know.
Thanks.
Check back soon, I might have a course coming out soon
Neil Patel Thanks Sir, I am glad you notice.
Neil, I want to know how you grow your sales. Is it mostly from inbound marketing?
The thing is, alot of people have ideas but they don't know how to start and connect with that industry.
Yes, inbound marketing is my bread and butter.
Hi Neil, do you think creating a E commerce website platform for retailers would be a good idea? Just like Alibaba, it focus on wholesale new platform focus on retailers.
It could work, sure. But I don't think of things as "good ideas" -- I prefer to see good execution ;)
Hello sir, I love your videos they are like a mentoring session for me. I'm planning an educational start- up but we are unable to connect a mentor due to lack of money. need your suggestions regarding that.
Read as much as you can. That's a great (Free) way to learn.
Thank You Sir, for replying instead of your busy schedule trying to do the same but sometimes it doesn't helping me on the field. Hope you make a video For the startup enthusiast like us.
Love your videos, Neil! I've been bing-watching your videos for months now and appreciate how practical your advice is. I began my online coffee sales business this year and I've been applying your suggestions to my business. Please keep sharing your knowledge. 👍
P.S. I don't gamble or go to casinos, but will gladly accept $50,000.00 for my business from your wealthy friends!🤣🤣
Thanks for following along :) Glad my content is helpful to you!
Neil, can you tell me how to get backlink from your blog or others 😋
Email people if you have a blog post or piece of content that could replace something they have that's out of date or no longer relevant.
You are great .
Thanks .
You're very welcome!
hi
This video is just uploaded than how you commented 4 days back?
I see all videos because this video is already in playlist
hi im thinking of a watch bussiesss any help on how much ill make
x
That is impossible to predict
@@neilpatel what do you mean
sorry i got another idea i love parkour so do you think a parkour business (obviously many gyms/shops ) could make me possibly eventually a billionaire@@neilpatel
Great info. I have an idea for websites. I just dont know enough about it to implement it.
Start learning as much as possible so you can implement it
you are great dear
wish you more success
Thanks!
He's already super successful, you think he needs more success lmao?
great really like your videos 👍🏻keep it up👍🏻
Thanks!
If possible, create a walkthrough for event blogging with results. Will help us for sure :)
Thanks for the suggestion!
Neil.... you're awesome! Great video
Thanks!
Sir neil i plan to launch a web based tutorials in basic mathematics. Is ti a good idea? thanks
It could be if you target a wide enough market
I am in the business which has market cap is 160 billion hope to build the next billion dollar company 😉
I love your motivational stuff! You are better than Brian Dean! Not only SEO but also motivational stuff!
Glad you like it!!
Hi Neil, is SMS marketing a better way to handle clients over email marketing given the fact that the open rate of SMSs are higher than emails?
It depends. I prefer email because you have more control with what you can put in the messaging. Also, it's easier to track and automate.
hi, neil, am entering into affiliate marketing niche and just got my website set up, is it worth a billion dollar market to enter?
Why not? Give it a shot.
Hi Neil - First of all, great video! I have always wondered how I could start a billion dollar company and you just answered my question. I’ve started my own coffee brand. Would that be considered a huge market?
Coffee is a gigantic market. But keep in mind it is super competitive and getting into commodities is extremely challenging. It's possible to succeed, but be realistic. Become profitable first, don't think about making billions.
I really appreciate the response and thanks for your feedback! I’ll definitely keep everything you just said in mind!
Sir I always check your playlist, and get a great knowledge,sir I want to a beauty parlour entrepreneur mediator ,like Ola cabs, than Google trends innovative ideas from where consume
Best of luck!
Hi Neil, I was planning to start a business that helps people get their bikes serviced thru an app. We could have their bikes serviced and drop em back on time.
Started with designing the app.
But later on realized there are EVs coming in v soon. So held back in a way.. plz help with suggestions on whether i should start my website to test waters or shoudl i jump all in with the app. Plz help.
Thanks for the great videos. Keep up the good work!
I am in India btw. Thanks
Hello friend,
If I were you, I'd do research on your audience to see where you think they would find this information to be more useful. a Site or an app?
It might be safer to start with the website and then work your way to the app.
@@neilpatel what is the best way to do research for a business idea?
Ur valuable suggestions please..
Amit Oswal I'm very glad to share with you my success story today, when I started trading in binary and forex few months ago, I really don't have the neccessary tools to trade and i lost a lot untilI i met Posten Amanda who thought me all about the market psychology as She managed my account for me. Today I am grateful to her to great offer and help because she really changed my financial situation .If you need her help, you can inbox him directly on Instagram or reach her on WhatsApp +1 (510) 991‑1467 I advice you shouldn't hesitate. She’sgreat.
Bro Neil, What an energy you possess :) Well, I wish to start a business on amazon. Give me some tips to do well in less investment ?
Thanks for your kind words! What type of business on Amazon?
I hope you are still active and respond but I always wanted to open up a bar. I use to be a bartender and I loved doing it ! Now I want to see if I can grow a successful business while doing what I love. I also want to open a cafe since I love coffee and baking as well
Go for it! That's totally awesome, my friend :)
You always have great content brother, thanks!
I heard that Neil Patel is going to launch his own crypto-currency, Is it right?
Thanks Manav! I'm advising a company that's based in the crypto-currency sector.
A company which has a control over the worlds each and every market in a single name either online or offline like all the online shopping market amazon flipkart banggood under one site or app
To buy or sell anything just open a app in the phone.
1000 apps in just one app
Insight
That'd be awesome if you could get it to work
Hey man!!
I was working SEO executive in Digital Marketing company but now I say bye bye to 9 to 6 job..
Then I registered my OPC company.
I only focus SEO Services, not any other ppc or social media marketing..
Will these type of company become multi million dollars company?
How can I succeed more enough in one single niche?
Plz reply..
That's an impossible question to answer. Any company can succeed it the right people are behind it and they provide quality work.
Hey @Pritam kumar would you be interested in a partnership?
Hey Neil, It was really great to listen to your ideas. I'm an English language teacher and I own a small language school. How can I be a multi billion dollars businessman in this industry. It would great again to get your suggestion.
Create online courses :)
How about custom software development business ? There are millions of companies and freelancers already in this space with latest technologies..
Hustle to stand out in the crowded room.
I wish you to be a billionare some day ...... ✌✌✌👍👍👍👍👍👍
Same to you!
What about a app through which people can invest in big multi-million dollars Hollywood movies and make money out of the profits. In this way not only the big production houses but also small filmmaker can pledge and get their films investors to start.
What about that????
That would be awesome if it worked.
I produce a tarpaulin material bag in my country, thats is a good one neil?
My product under brand LODWIK, this my instagram lodwik_factory
If it sells then yes ;)
sir my website is on laws and fitness is it a good niche??
Any niche can be a good niche if done well.
Neil sir,
I have an idea of making a marketplace for software, is this idea is big enough or not?
I can be!
which video editing tool do you use neil sir ?
Adobe Premeire
Great but execute is difficult
That's true. It takes time and effort, but it's worth those sacrifices :-)
Hello Neil, I always enjoy your contents, I'm a web developer and I want to launch a business of web design /development, and I've adviced to focus on a specific niche , should I or not? it would be really nice if I can get some ideas from you . Thanks😊
Focusing on a specific niche (that you are passionate about) is great advice
Ok Neil, Thank you very much for your advice 😊🙏
Great one neil
Glad to hear it!
What about the online health industry in south east asia ?
If that's what you're passionate about, go for it! It's definitely a potentially lucrative market.
Neil Patel sure :)
he's the man!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ♥
Thank you :)
hi neil, good video
i am an indian. i have startup idea which is related to big market size but i don't know how to approach investors
pls help me
Prepare a pitch and go for it.
i know how to make a pitch but i don't know the sources from where i can find investors.
that is my problem
Hi.. Neil
my Idea is building company to deliver Groseries to the dorstep of customer, like Instacart.
I'll build it in indonesia,is that good idea and Big enaugh ?
Sounds like a good idea to me! :) Make sure there's a good market audience there for you.
how about the entrepreneurship market? I mean to tell people the way and the skills they will need. thank you
You are very welcome!
@@neilpatel what about my question?! Is the entrepreneurship blogging market suitable for what you said?
Is online cloths damage repair companies have big market size and less penitration?
That I am not sure. You will need to research your niche to find that out. I am not familiar with this industry.
@@neilpatel thanks
I have a idea to provide os like windows for free or with lowest price like 1to 5 dollor per year with free antivirus will it work will it give me an apportunity it is a good idea
PIYUSH SINGH yes it can be a good and a big idea if you create a os which better and safer then windows and cheaper in prize but it take a lot of hard work and a sharp mind to bulit a great os than windows
Well there's already a similar product. It's called Android! How your product can disrupt Android?
Android is not for pc
PIYUSH SINGH right bro
AI is going to be a big thing. an AI-based os would be v good!
What do you think about Starting your own video sharing platform like youtube as a great idea
It would be tough to rank over UA-cam. You're better off leveraging UA-cam for your videos.
want do you mean leveraging UA-cam and UA-cam has not been doing to well this days running my own platform might be more secured in running more smoothly the biggest problem would be it would not make me any money just lose money for hosting
Neil sir can you suggest some niche that's really help me to earn good money.
There are too many to count. You have to go with what you're interested in.
brother ..I am collage student and want to earn some money for Internet SS a part-time.....can u help me by suggesting wt should I do ...??
You have lots of options. Figure out what excites/interests you most.
Hey Neil,please give me advice for to promote app which I created.
All of my best tips and strategies are here and on my blog ;)
I love your humanity and positivity love from Pakistan 🇵🇰
Thanks, friend :)
Hi Neil, Thanks for sharing this great piece of content. I am about to launch an product, which is aimed to build online rental platforms to customers who want to start online rental business of their own.
According to you does it have a good TAM?
How I should position it into market?
How I can get leads and nurture them, so that they convert ?
I am ready with landing page, which is quite good. But, What I shall do to drive relevant traffic to it ?
Please help, I'd be very grateful. Thanks in advance :)
You should read the articles on my blog about lead nurturing and best practices for landing pages. All of my best tips and strategies are there.
Neil Patel alright thank you so much sir
I see your every video you are superb
Thanks!
I am working on a soft drink business which I hope make multi millions any advice
SEO :)
really want to shake hand with you.great person crystal heart
If you ever see me, feel free to come up and say hello