February 16

Personal Motivation: What Drives You To Succeed? | Business Advice from Neil Patel

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What drives you every morning? What motivates you to keep going, keep pushing forward to make all of this happen?►►Subscribe here to learn more of my secret SEO tips: https://goo.gl/ScRTwc
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Losing.

I know I’m not the biggest company, I know some of my competitors are bigger than me.

Losing.

I don’t have goals trying to make X dollars or anything like that.

My goal is simple. Beat my competitors.

I’m so competitive, and I want to do whatever it is to crush them.

I’m doing this new strategy. This is going to sound crazy. I was dealing with Nadav from InboundJunction the other day ’cause we were working on promotion strategies, and we were talking about Hotjar and a few of the other competitors, and he’s like, “What are you gonna do?” I’m like, “I’m gonna release more stuff for free.”

I will lose revenue to crush my competitors.

It’s quite crazy and sometimes in many cases, silly.

Even in marketing. I’m buying a lot of tools right now, and I’m creating a lot of marketing tools.

I release a keyword tool similar to keywordtool.io, and mine’s called Ubersuggest, and I ended up buying it out.

I discussed that in the previous video. I release their paid features for free. There’s no reason to pay for them. You don’t even need a log-in, you can use the unlimited.

I don’t care. Use it away. It costs me money each month.

The next person I’m going to go after is SEMrush. I have so much keyword data. Once I get enough, I’m going to create 20% of their main features that most people use, and release their whole product for free.

I’m going to take 20% to 30% of what people use in Moz, as well as all the other SEO features I like in tools, and give it all away for free.

I don’t care to make $1. You know, people have a freemium concept. Oh, you do it for free, Neil, then you’re going to upsell people? No. My freemium is going to be free.

Upsell? Nothing. Just use it for free.

I believe who controls the most audience and the mindshare is going to win.

And here’s my marketing tip for anyone, especially you guys who are watching. The world is changing so fast that technology is adapting and everything is becoming so cheap.

Jeff Bezos once had a quote saying “Your margin is my opportunity” I took that to heart.

Take whatever competitors are doing, and just undercut them on price.

Make it less, and if you can make it free.

And make your money on the high end of the market. That’s at least what I’m going to do.

And that’s my strategy that I’m doing a lot in 2018.

And I believe you just go out there, undercut everyone, market to get the audience, and when you have a free product or service, you don’t have to spend that much on marketing.

You don’t have to deal with the expensive Google Adwords cost, the Facebook ad cost, and you can just do it simply in which, you’re going out there product markets itself, it grows, and then eventually you can figure out how to monetize.

Think of it as a media company, whoever controls the most eyeballs within that industry, in the long run, is going to win.

So, I’m willing to lose money or make a lot of things for free because it’s so cheap these days that hey, I can do a lot of stuff just with API.

To give you guys an example, I was looking at Moz’s server expenses; I think it was around two hundred thousand dollars a month in expenses.

They released an annual report. And they have this tack free code or mentality of ethics which is awesome. And one of the line items was server cost.

These days I can crawl five hundred thousand web pages and SEO feedback, you know what my server cost on that is? 120 dollars.

That’s it.

120 dollars to use someone else’s API to give me suggestions on five hundred thousand web pages, unlimited websites unlimited domains, just 120 bucks.

You know how many sites I can reach out with that?

So what keeps me motivated is crushing my competitors, giving everything away for free. And eventually winning mindshare.

And that’s my goal. If I beat everyone and take their user base because I’m doing everything for free eventually when I have that mindshare or that audience.

I’ll figure out how to monetize by just going after that 1% being the fortune 1000, or whatever it may be.

Because one customer can end up paying you enough where it makes up for all of your expenses, plus more.

That’s what keeps me motivated.


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