Neil Patel On Making +$100M/Year, Spending $180k/Month, and Donating Millions To Charity
Вставка
- Опубліковано 14 чер 2024
- No more small boy spreadsheets, build your business on the free HubSpot CRM: mfmpod.link/hrd
-
Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) sit down with entrepreneur and online marketing guru, Neil Patel, to talk about his success starting as a blogger to making 9-figures in revenue.
-----
Links:
* Neil Patel - neilpatel.com
* Photopea - www.photopea.com
📧: Sign up for The Hustle Daily Newsletter: link.chtbl.com/9WuGq2V6
🎙️: Download Our Podcast: link.chtbl.com/6lRxpWxR
A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us.
-----
Show Notes:
(02:05) - Neil's business history
(06:00) - Minority certification
(08:20) - Magic Johnson theory
(23:00) - Monthly burn rate
(36:50) - Neil's philanthropy
(39:10) - 9-figure revenue
(54:25) - Photopea
My brain is on fire from this podcast. Neil’s transparency was both surprising and appreciated. Shaan and Sam… the way you push for the “share” that they’ve never shared before is epic. Just wanted to send loads of appreciation. Your podcast is pushing the edge of exploration. Thanks for the energy you give this.
To all the people who didn't get the maths here's what Neil was saying - What he was saying and it is pretty conservative. If you get 40 million UNIQUE visits and you convert .5% which is 200k so you are making 600k ( selling the paid version for 3 $ ) . But that's for 1 month & every new month unique visits comes in so that's 600k*12*10 ( Assuming they stay for 10 months ) = 72mil.
7.2mm
@@artofexistance It's 72M because it's 600k in NEW customer every month, still assuming the 600k in customers from last month are still with you since you have a 6 month average rate of retention. So he's basically saying 600k GROWTH month over month.
lol was looking for this exact comment, I couldn't understand what he was saying, thanks for this.
Thanks for explaining! @@griffen5748
Facts, I like when Sam ask those direct questions lol like so what’s the hustle!?
Thank u
Its amazing right?
I love these conversations!!
Really gives us a perspective that’s hard to get in the physical world.
Everyone’s so open & honest here.
Thank you so much for your work! ❤️
i've been following Neil for a long time as well, my respect for him went up a ton as I had no idea he donated the way he did, thank you guys for a wonderful episode!
NEIL PATEL: "IM NOT RICH
ALSO NEIL: MY BURN RATE IS 120-180K A MONTH
he's just a scam artist, I just want to educate people :) But of course they won't believe me, his content is just there for selling his agency and tools. As i said : Sell a shovels in a gold rush.
if you live around people that make +100 million a year personally, burning 2 mil a year is nothing.... everything is relative
Shaan is spot on about the utility of the podcast at the end of the show. Candid dialog like this is rare, and infectious. keep it up!
Agreed!
Thanks Thomas!
@@shaanpuri5111 When I need to spin things to my wife, I know who I'm contact
This was one of the best episodes for me. The fact that you both didn’t know a lot about Neil’s businesses a lot added to it. Neil is doing crazy, automating money in a time heavy industry like an agency.
Neil was one of the first guys I found on UA-cam when I started learning about marketing three years ago. Dude is a legend and probably one of the smartest guys in the digital marketing industry
Inspirational. I first read some of Neil's work 10-15 years ago and have followed him on and off. This episode tells me why one should never assume anything about anyone. Really great episode and if anything talking about Donations might inspire others to donate as well. 🙂
Am I the only one who had no idea Neil Patel was THAT successful? Kudos to him for keeping it quiet.
Does he make 100 million a year profit or is that just revenue?
Count me up!
@@kam8916 has to be revenue but that's still pretty amazing
Good questions, really nice that you push the guest and really try to get a DETAILED answer. Also sharing your thoughts and opinions that might not be in line with the guest's, is GOLDEN. Amazing episode, more guests like these!
30:21 this is why I like Sam, he’ll disagree and push back. Speaks his mind as an independent thinker.
Thanks
@@samparr9899 I agree. That makes the interviewee dig deeper into the explanation. Make the conversation lot more insightful
Just at that Mark and was impressed as how Sam pushed back.
Great podcast. I remember finding Neil way back when. It's great to see he is doing well and successful. I always liked his content and his products. Great conversation. Wish I could hear more episodes like this one. Thanks!
Appreciated this episode so much!! The frank discussion about how you can help others, live your best life and continue to grow businesses and wealth was excellent, inspiring and as wonderful to hear how it helps others from donating, to learning about business, to knowing what is possible in the world!! Thank you!!
my key takeaways:
- If you're not an operator, hire or partner with someone who has a track record of success from day one.
- Buy a fledgling e-commerce biz and fix it
- Create a knockoff of a fortune 500 saas company
- use whole life insurance as savings account
- build a small school in a 3rd world country
“I’m either dumb or your dumb.” LMAO on the 25k life insurance policy question
Why have life insurance if you obviously don’t need it and can self insure? That 25k a month could just go into a diversified mutual fund or something super safe like TIPS.
Thats 25k doesn’t go to life insurance 100%. Its invested in mutual fund too
Just come across this Podcast and I am blown away. So inspiring and Neil is an amazing human being. It was great to see how blown away you guys also were by Neil.. Thanks again guys..
What Shaan said at the very end about talking openly about how much you make and what you do with it... amazing! 👏
Absolutely love Neil Patel! Been following him since 2205. We once spoke on the phone in length after I had become Peet's Coffee & Tea's national furniture supplier and he happened to be working from Peet's Coffee & Tea at that very moment. Mind you, when we spoke it was my midnight Guangzhou, China time. You did it Neil, the $100 million a year man. Wow! When I see him, I think of Shoemoney, Chef Chow, etc. What a time to be alive back then...To learn of your generosity is heart warming. I tip my hat to you, Neil.
That was an amazing podcast! Just learnt a lot of things, there's more to the world than we generally think of. Thank you so much.
36:45 - 37:06 ❤ your way of seeing it as an investment (but without expecting anything in return, other than a better world for all) as opposed to “charity”; also dig your honoring the value of your wife’s fulfillment and contribution to said investments you make along side the value of your contribution which is creating the means to do so.
Your perspective and actionable generosity towards those providing services to you is inspiring as well. Just appreciating this modeling a lot and it gives me hope. 🙏🏼
Binging these podcast and grateful for this channel, too. 👏🏼
This is a man who people benefit from efforts and wealth.
Keep it going! I love these episodes guys.
Appreciate Neil sharing what’s possible. 🙏🏼😄
Absolutely mind blowing interview. Gives a peak into a different reality. Niel is obviously a master of leverage. The only thing i would have loved to hear more about are his day-to-day habits. How he keeps his mind sharp to be able to find and scale the right businesses.
Loved this one guys!! Very well done!!
Always learn so much from these episodes from the great questions the host ask
In 2017, when I first read neil's blog post. I really enjoy reading his blog post. And I knew he were earning a lot. But after this many years now he is on another level.
Mind blowing episode guys . Thanks , this is a real eye opener .
Very happy for Neil . I really wish to learn more on Startups and the finance behind it - can we have some useful resources for those .
This definitely expanded my world view thank you guys
We need a show thats just sam saying it how he sees it
Phenomenal love Neil Patel and his business philosophy and his generosity to impactful non for profits Awesome
I worked in a similar agency a few months ago, but Neil's agency is obviously way more advanced. Thanks for letting me know what the journey down the road would look like for them. :)
This was a great interview
Thank you Neil!!!!!
I will contact your agency for marketing help .
The number of times Sam's brain shut off trying to process the weirdest interview ever was amazing. Thanks for pushing back!
🤣🤣🤣🤣
This is a awesome episode
Great episode software guys vs marketer
You should do a whole episode on the insurance as investment vehicle part
Great episode! I really like how transparent and honest you are
Great episode!
what episode number is this? trying to keep track of the ones I've seen and you make it super difficult.
Loved this episode. ❤️
Great content guys as always! 💪🏾💯🙏🏾
I'm still wound up on the MRR calculation/projection he did for monetizing photopea. How do you count a number as MRR if you're collecting it for 10 months usage?
He is an awesome investor !that is awesome !
True words Shaan @ the end
Neil Patel is an icon and been in the space way more than 15 yrs. There is no hustle he is the real deal nit a one hit wonder.
This is true about RFPs, if you can go get the minority certification because big corporate companies want to meet their diversity quota
I appreciate you guys!
lol Shaan, lets make the vietnam school happen if you're serious. I'm Australian married to Vietnamese. Living here at the moment. A lot of great schools/non profits that would love any support you could give.
Also laughed because I went to Villanova College (In Australia, not to be confused with your university!)
I never imagined Neil how much money you have earned, I just didn't know you, I found that you are a very humble young man with giving away your knowledge, you have given me hope about my fear from people stealing my life in photography at 70 yrs old. I did produce corporate videos and making movies at 12 yrs old. Copy and paste and e-books ,how to steal original content on utube is my fear Neil, loveyou Sir
That conversion was a challenge. He's saying he's converting half a percent of uniques per month, meaning he's converting 200,000 people per month each of those people stays for 10 months paying $3 a month for a total of $30 total per customer times 200,000 per month means that each month he generates a total of new sales of 6 million and every month there's 200,000 new customers which is how he gets to the 72 million number
Loved this episode. Especially Sam having no idea what to say or ask in some moments 😂
Wow!! My first impression was what a cocky guy and then the interview turned out to be amazing.
I LOVE THE SUBURBAN DICTIONARY CONCEPT!
Such a ridiculously smart guy.
My dad was really wealthy, and he didn't leave me shit, like I mean absolutely nothing, and also didn't teach me all that much(most learned from watching). And, because he didn't involve me in his business, I also didn't absorb the connections that most wealthy people do. I really hate the whole "I'm leaving my kids nothing" deal. It's hell and it suck ass. So just imagine this scenario your kid grows up around you in this luxury upper crust lifestyle, and when you pass, (my dad died when I was young) This child is now surrounded by poor people, and poor people are stupid and dangerous I know it's not nice to say but it's true. And, this kid of yours might have some plans or ideas but they're null and void. He's going to spend 99% of his time trying to survive and not expand. being at zero is much more difficult than starting low. I figured it out eventually but I'd say I wasted 10-15 years just trying to get to a jumping off point. Leave your kids enough money to live well, but not enough to ball out. This whole "leaving them zero" shit is just rude and evil. "oh other people need it more" yeah well you didn't create them did you? you didn't force them into existence against their will. Also the kicker is my dads family gave him tons of money when he was young to start all these businesses, and he was just such a hater he didn't do for me what was done for him. Passing on wealth is a positive thing. Despite whatever fantasy novel you may believe. Always hoping people will think you're a "good person" for depriving your children is sad. You know what most billionaires have in common, their parents were highly supportive millionaires. That's just a fact.
Sorry to hear that Master Cobra. I hope you are in the right place now and you have forgiven your dad.
True for like 80%, everyone likes to ignore those facts lol.
The fact that you said poor people are stupid and dangerous is means you haven't been around a lot (I mean aren't you poor).
Also cheer up. You had a good life. And you still can unless you really want to be miserable. You're here so you got some ideas and knowlegde. Go out and crush if that's what you need to make you happy.
Otherwise, just learn to be happy and look on the bright side pf things.
@@slouischarlesYT I am not poor, not now at least, I was at one time, and I would say out of necessity, I became quite dangerous, and stupid. As everyone else usually does in those circumstances. If you were around me as a young man I was ready and willing to be as big of a piece of garbage as was necessary to get ahead. Being in a violent ignorant environment forces you to adapt to those surroundings, and puts you at a greater risk of ruining your life prematurely. I'm very happy with my life now- straight up thrilled, and I'm specifically addressing the idea that giving your kids nothing is a good Idea, it isn't, it's just a misguided virtue signal. If I decide to have children I wont have any moral problem helping them to avoid the disasters of poverty, a lifestyle that often times people don't come back from.
@@thespartanphysique Yeah man, I'm doing ok. I love my dad, I think he did what he thought was right, I don't entirely know what motivated him to make the decisions he did (he left everything to bizarre patriotic charities that I personally believe are a scam), but I'm at peace with it, and I'm thankful to have had such an amazing accomplished role model. I didn't appreciate how impressive his life was until I was an adult. He was truly an incredible person. I could go on but there's nothing to be gained by it. I've forgiven him completely for not leaving me money, but other things are going to take time. There's lot of people who had worse that's for sure. It's just hard to explain to the average person what it's like going from Riding in helicopters, and living in penthouses when you're too young to know it's even an aspirational lifestyle, to living in trailer houses next to a swamp surrounded by meth heads who will do literally ANTYTHING to survive. Like I didn't go from the lap of luxury to lower middle class I went from having a dream life to a borderline hell realm. No A/C no internet no family car still in middle school mom started dating scum bag losers out of depression. Truly poor negative people actively try to stop others from succeeding. I eventually got out of it and I'm doing better than I ever have. Still not at my fathers level, but I'll get there.
Neil Patel is an SEO/content marketing OG. Been watching his stuff since 2015. Good that you got him on the podcast.
Amazing pod!!!!
21:38 burn rate/ spending
I learned a lot from this
awesome podcast! would be really cool to see him on with Andrew Wilkenson too!
You guys don't understand that nail is a marketing expert. He didn't work for any tech company, he's been putting his marketing knowledge in his businesses.
We need him back!
“I don’t care about money” - Spends $120k/month on the most random things.
Yeah this Neil dude is definitely a sleazy salesman type, can barely talk about his own business
He's a scam artist. Like Gary who's screaming all the time, same story promoting his agency and tools.
@Jakejake didn't realize fortunate 100 & 500 company are in business with scam artist when you have to go through RFP.
Great great episode! Sooooo many gems!!🔥💎💎
Sam is all of us, no BS questions and not afraid to ask why and question some of the guests' answers. I just can't reconcile that Patel says I am not rich, I don't need anything, I have a stained white t-shirt and then turns out his burn rate is $180k/month and lives a lavish, privileged life...what gives?
Soooo many contradictions it's hilarious and makes no sense at all!
@@JoeRobisonGFD aren't we all walking contradictions
It’s called Poor Cosplay. Rich people have PR teams to tell them what should they say so they appear humble
He probably thinks he’s not rich compared to the people around him.
@@thebrainpal Yeah, that's true. Rich is relative. Some people compare it to their own life.
solid episode!
Imagine burning between 120k and 180k a month for your personal lifestyle and then have the audacity to claim "I am not rich". These people are so disconnected from reality.
He probably has a different definition of what rich is now that he has enough money to see people at levels higher than him.
No he just refuses to brag.
This should broaden your horizon and make you more inspired to aim higher ✊🏽
@@yasromaestro pitching me as someone with a horizon too small to comprehend wealth or being uninspired just because I think these people are detached from reality is pretty rich. No pun intended. Given you know precisely nothing about me.
@@atouchofa.d.d.5852 and yet, he brags.
+1 for the Urban dictionary
Shoutout to Neil for paying 6 figures to his housekeepers! I'd want to do the same.
Sam: "calculus"
Me in Spanish accent: That word...I do not think it means what you think it means..
58:24 I'm going to do public math -- 40mm people * .005 conversion = 200k paying customers * $3 /month = 600k MRR * 10 months = $6mm in revenue at a year it would only be $7.2mm not $72mm ARR
Bro 200k new customers come every month, and the previous ones stay.
This guy sets off my bullshit detector! I listened to a talk on clubhouse with Jason Calacanis (angel investor) who was ripping Patel apart, saying he rips off other people's content and doesn't know shit.
Was Jason right, do you have any proof either way? I heard that too, but I have been following Neil's content for over a decade and he had been consistently valuable.
Who came from that one tiktok video about him spending?
Quite funny to see that at 58:30 Sam still didn't get what Neil tried to explain :D
What a great dude…
Who is that syed guy y’all were talking about
LOL Neil said he's not rich and then proceeds to talk about how he has $120-180,000 in monthly expenses, flies private jets, has a business doing 9 figures a year, has a bunch of other business, etc. 🤣
Fr, dude is in the .0000001%
37:08
Ask the guy who did ur podcast tech to recalibrate
Definitely bring him back!
I'll tell my kids this was Neil Strauss
Thanks for sharing this, it's great to be transparent, it just shows us what's possible, and opens up the horizon, when I'm going to make a lot of money, will tell people exactly how I did it and how much, because I know people who told me, and it helped me so I'm going to do the same.
9:35
this proves why you shouldn't do public math
"I'm doing well in life bro, I'm okay"
I tell you right now.
This it's going to be on your 10 All Time Podcast....
of your life..
is it just me or shaan is really the indian peter griffin.
Mary Mother and Jesus; you spend $57k on nannies?! My mind exploded. But amazing guy and values. One thing: it's not "impact" (nothing is crashing into anything), but _influence._
Love Neil!❣
I want your problems bro. He said I’m not rich and then said he spends 120-180k a month 😂
It always baffles me to hear entrepreneurs talk about not leaving kids money. The best way to serve society is to leave the next generation with the mission and responsibility to build on the shoulders of what you have created. Not start over from scratch. The question therefore is what kind of parent were you, and did you, like many other cultures, raise your children to be wise and responsible leaders who can take over and manage your business. This is the problem with "new money" imo. 🙄
hustle in silence 101
there are 2 things he said he feels bad about sharing and those are exactly in the title 😂
This interview oh Whats really happening folks is this guy is tech savy dont blame on his venture just follow and learn...
Whole life insurance policy? Wow, surprising for someone who's so financially savvy
Nah it’s smart
I failed to understand how NP came up with 72 mil/year?
200k visitors at 3/month = 600k/month * 12 = 7.2 mil ARR and not 72 mil?
also MRR will be 600k and not 6mil.
Yep I caught that too. It’s too bad he wasn’t called out on the show for math that was so blown out of proportion
The only other explanation is that he neglected to say that the VALUE of the company would be 72 million going off of a 10x multiple on ebitda