Here’s What I Would Do If I had To Start Over and Rebuild My Business (It’s NOT What You Think)

By | August 10, 2019


– I’ve been a entrepreneur for 17 years. But if I had to start over,
it wouldn’t look the same. Hey, I’m Neil Patel and today,
I’m going to share with you that if I had to start all
over, here’s what I would do. And you know what? It’s not what you think. (fast-paced, bright music) Before we get started,
make sure you subscribe to this channel. That way, when I release
more videos like this, you’ll get notified. Question for you. How many of you want to be a entrepreneur? I know I wanted to be a entrepreneur. And if you do, leave a
comment below with yes. See, when I was starting
out at 16 years old or 15-and-a-half, I
wanted to make more money. And I couldn’t get a high-paying job. I didn’t even have a high
school degree at that time, I was still in school. And I wasn’t even graduated from college. Because when I started off, that’s what almost all jobs required. So it was really hard to
make a six-figure income without being a entrepreneur. Heck, my first job was cleaning toilets and picking up trash at a
theme park for $5.75 an hour. Now, here the thing. If you want to do well,
it’s not just about, hey, I want to go be a
entrepreneur and start a business. Because if you do that, you’re
going to make a lot of mistakes. And that’s okay, that’s
a journey and route that a lot of people take. But I’ve learned that that’s
not the ideal approach. If I had to start over again,
here’s what I would do. For the first nine years, I would go and work for someone else. I know that sounds crazy, but you learn so much
working for other people. Then when you’re ready
to start your own career, as a entrepreneur, things
will start taking off ’cause you’ll know what not to do, plus, you’ll have some savings,
as well, that you can use. And it’s not just as simple
as working for someone else for nine years. Here’s how I’d break it down. For a few years, for the first two years, I would go and work for a small startup. I’m not talkin’ about a Uber or a startup that’s just growing like a hockey stick. I’m talking about a startup
that’s not too well funded, that’s struggling, and
they’re trying to do whatever to make it work. This will teach you how to
fight, how to be scrappy, how to save money, how to be
creative, how to problem solve. When companies don’t have enough capital and things aren’t growing
as fast as they want, they got to think outside the box. And that’s a very valuable
skill for you to learn. Then, for the next three years, I want you to go work
at a really big company. I’m talkin’ about like a
Microsoft or a Dell or a IBM or a Costco or whatever
the company may be, Amazon, you pick it. Something that’s really big. You’ll learn how big companies work. You’ll learn that you don’t
necessarily need rock stars to build a $100 billion business. You’ll learn that you need
to go after a really, big total adjustable market
to build a huge business. You’ll learn how to play politics. You’ll learn how to deal
with other big corporations and close deals. That’s why it’s very valuable to work at these big companies. Whether you think this
company is sexy or ugly, it doesn’t matter, you’ll learn a ton. You’ll even learn how to manage employees. You’ll even learn how to climb the ranks. Then I want you to go
and work for a company that does at least $100
million in revenue, but has $1 billion. You’ll learn from that
company when you work there, for two years, how to scale,
how to continually grow, because it’s not easy. Yeah, maybe a Microsoft got to being worth $600, $700, $800 billion. But most companies don’t get there. A lot more get to $50
million, $100 million, and they struggle to keep growing. But you’ll learn how to
grow in that environment ’cause it’s totally different than it is working for a Microsoft. And then, last but not least, I want you to spend your last two years working at startup that’s
growing really fast. One that’s raised at least $10 million, in the hockey stick growth,
things are really chaotic, they’re really messy. Because when the startups
are growing really fast, they make a big mess and
you have to clean that up. And learning how to just go
with the flow, grow fast, and clean up the mess
afterwards is a skill that you need to learn
if you want to do well. So now that you’ve worked
for someone for nine years, and technically worked
for four different people, you can take all that experience and then start your own company. On top of that, you should’ve
met some amazing people along the way, which will
help you with recruiting. Because there’s not enough
time in the day for you alone to build a big company. You need co-founders. You’re strapped for capital. You want to make sure you
have other co-founders who are willing to put
in the hard times, hours, whatever it takes to build
a big company with you, that believe in that vision. And of course, you’ve met
along other great people who could be employees or
team members of your company along the way. You should recruit them, hire ’em. You may not be able to pay ’em as much as they were getting before, but you can give ’em some
equity in your company to be there along the way. And by doing that, you’re going
to start seeing your company grow much faster than if you decide to start one from day one. I hope this helps you
become a better entrepreneur and I do wish you the
best success in the world. And if you need help
growing your business, check out my ad agency,
Neil Patel Digital. If you enjoyed this video, like it, subscribe to the channel, share it, tell other people about it. If you have any questions,
leave a comment below, I’ll answer it and help you out. Thank you again.

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