Do you know how people made millions of dollars back in my parents’ days? They did things like own land, own banks, own factories, but these days there’s something called the internet. With the internet, you have the opportunity to make millions of dollars without investing a ton of cash or being well-connected, or being born of privilege. Hey everyone, I’m Neil Patel, and today I’m going to share with you seven secrets that will help you become a millionaire in the internet age. (lighthearted music) Do you know how I started my career?
I started my career by picking up trash and cleaning restrooms. My parents didn’t have a ton of money, and no, I didn’t grow up dirt poor. I grew up in middle-class America. I didn’t really struggle that hard, but I had a normal job like most people out there. But, if you look at me today, I’ve done extremely well.
Can I do a lot better? Of course, who can’t? But you know why? It’s because of the internet.
I didn’t have much money when I was starting either.
I didn’t have tons of loans or a big house or anything like that, and I was still able to do well because of the internet and these seven secrets. Number one, focus. A lot of people, especially the younger generation, want to do everything. There’s not enough time in the day to do 20 different businesses. Yes, you may have 20 different ideas, but pick off of them.
You know, they once asked Warren Buffet and Bill Gates what’s the one key to your success, and do you know what they both said? They wrote it down on a piece of paper, and in their own words, they said focus.
So if those guys made their wealth, billions and billions of dollars, focusing, that means that you should too. You’re not an Elon Musk. You can’t do multiple companies at the same time.
He’s an anomaly. Most people can’t do what he’s doing, so focus. The second thing I have for you is to solve a problem. You don’t make wealth by just saying, “Hmm, today I want to make money.” The world doesn’t work that way.
You have to help other people. You have to solve a problem. If you’re not solving a problem, then why are people going to give you money? This gets into my third secret, which is once you’re solving a problem, your solution needs to be easy to use or affordable. It has to be one or the other.
If it’s hard to use and it’s expensive, who’s going to do it? No one. Everyone’s lazy these days. Don’t believe me? Just check out your phone.
You use Uber because you don’t want to drive.
You use Postmates and UberEats because you don’t want to go out of your house to go get food. Everyone is looking for convenience these days, so your solution needs to be easy to use, or affordable. If not, ideally, both. The fourth tip that I have for you is to learn from your mistakes.
In the internet world, you can make a lot of mistakes. Everyone does. It’s not as simple as just creating a brick-and-mortar business, in which there’s someone who can guide you and be like, “Here’s how you set up a McDonald’s franchise. “Copy this formula and you’ll do well.” With the internet, things change at a really rapid pace, which means you’re going to make a lot of mistakes.
That’s okay. Everyone makes mistakes. If you didn’t make mistakes, something’s wrong with you, and let me know what you’re doing because I want to be doing that.
When you’re making these mistakes, follow along, keep track of them, and avoid making them over and over again, because you know what? If you make 20 mistakes, and you learn from each of them, and you avoid making them over and over again, what’s going to happen after three or four years?
Eventually, you’ll know what not to do. It’s hard to be like, “You’re going to become a millionaire right away,” but if you avoid doing the wrong things, you’ll eventually do the right things. Give this video a like if you want me to create a video with my biggest business mistakes. The fifth secret I have for you is to execute fast. If you want to move at turtle speed, well, you’re going to get trampled all over and killed.
Speed and execution are preferred over perfection. So move as fast as possible. If you’re moving really fast, and you’re happy with your progress, think again.
You could be moving faster, and some kid who’s 15 years old, if probably moving faster than you. The sixth secret I have for you is to read.
There’s so much knowledge out there, you don’t need to go to MIT, Harvard, or Stanford to get all the knowledge in the world. You can just go to the internet. Learn from other entrepreneurs. Read blogs. Subscribe to podcasts on iTunes.
Do whatever you can to learn more. Even check out books and stories online of other CEOs in your space and see what mistakes they’re making. The seventh secret I have for you is that you have competitors. I know what you’re thinking. “What the heck?
“How is that a secret?” Well, no matter if you’re innovative, or you’re in a new business like Uber and you’re revolutionizing the taxi business, they still had a competitor.
It was taxicabs. So, whatever your competitors maybe, go on the web and search for articles and interviews of the founder of that company. What you’ll find is in those interviews, these founders– And I don’t know why they’re doing this.
They’re revealing all their numbers, their stats, their mistakes, and the secrets that help them grow these enormous companies. When you learn and listen to these podcasts and these interviews, you can take what they’ve done that was successful for them, and replicate that into your own business. Follow those seven secrets and you, too, can do really well on the internet and be successful and make millions of dollars. Now I want you to comment below with what business you’re going to start right now, and how you’re going to use these seven secrets to explode and grow your entrepreneurial career. If you liked this video, don’t forget to subscribe, because I’m going to help you throughout your whole journey as an entrepreneur, or an entrepreneur, if you’re working at a company and you’re looking to grow within.