HOW TO EXECUTE – NEIL PATEL
You will learn how to execute by going through this article.
Execution is EVERYTHING.
We are going to break down a video of Neil Patel and Tai Lopez.
This video is ALL ABOUT execution.
Neil Patel’s biggest strength is his ability to get stuff done fast. He is also a renowned Internet Marketer.
In this article you will learn the secret behind Neil Patel’s legendary execution skills.
Table of Contents
- HOW TO EXECUTE – NEIL PATEL
- IN-DEPTH KNOWLEDGE
- 1 HOW TO START A BUSINESS IF YOU ARE BROKE
- 2 CORRECT WAY TO EXECUTE
- 3 CASE STUDY OF WRONG EXECUTION
- 4 CASE STUDY OF CORRECT EXECUTION
- 5 TIME FRAME OF CORRECT EXECUTION WHEN NEIL PATEL BUILT CRAZYEGG
- 6 ADVANTAGES OF EXECUTION BY BREAKING THINGS DOWN INTO SMALL BITE SIZES
- WHAT NEXT ?
Neil Patel’s strength is EXECUTION. Getting stuff done fast.
Execution is EVERYTHING. You have to give 1 point for idea, 10 point for having a plan and 89 remaining points for execution.
You will learn how to execute today by reading this article.
1 HOW TO START A BUSINESS IF YOU ARE BROKE
STEP 1 – PICK SOMETHING THAT YOU ARE PASSIONATE ABOUT
When you start a business it might take a while before things work out and you have to be highly persistent.
If you really love something you are more likely to spend more time on it, get better at it and not give up.
You might have to spend 10000 hours to get good at something according to Malcolm Gladwell. Focus on what you love because if you don’t love it you are not going to spent 10000 hours.
STEP 2 – ONLY FOCUS ON THAT
A lot of people when they want to make money doing business they have this shiny object syndrome.
“Oh someone else is making money here, someone is doing there, we can be doing this, don’t do that!”
Just focus on what you are good at. And focus on what you love. Because if you do those things you will focus on really solving peoples problem better than other people. And eventually you will do well.
2 CORRECT WAY TO EXECUTE
STEP 1 – BREAK THINGS DOWN INTO SMALL BITE SIZES
Biggest mistake people do is that they take the whole picture and try to get it done right away.
With executing it’s always about breaking things down into small bite sizes.
Companies like Google, Microsoft and Apple did not become what they are now all at once. Its little things, all the way from getting the first version out, may not be perfect.
People think executing means you have to do everything and it should work perfectly with no bugs and no flows and you are ready to go to make money.
STEP 2 – GET SOMETHING UP AS QUICKLY AS POSSIBLE AND GET FEEDBACK
You have to get something up as quick as possible and get feedback.
It can even be a wire-frame drawing of your design or you drawing something on a napkin and showing people and getting feedback.
Execution is always about how you break it down and you have to continually get feedback throughout the whole process.
Most people say that I have an idea, and I want to make a lot of money and that I have to go from A to Z all at once. But if you don’t have feedback from people you are maybe going in the wrong direction. And if you do you just wasted a lot of time.
The key is not to go from A to Z all at once. It is how to go from A to B really quick and get feedback, go from B to C really fast and get feedback, and you keep doing it until you get to Z.
3 CASE STUDY OF WRONG EXECUTION
When Neil Patel launched KISSmetrics they had a million dollar in funding. So they decided to make this analytics solution that will figure out social media traffic of companies and help them save money. They started to create this complete product and spent a million dollars on it.
Once they finished they found that people do not need the product. Because social networks already showed the data for free. Social networks were not great at it but most companies were happy enough with what they have.There was no pain point for them.
So Neil Patel wasted a million dollars and a bit more than a year.
4 CASE STUDY OF CORRECT EXECUTION
When Neil Patel started to build Crazyegg they did not have a lot of money. Having too much money can make you a little bloated.
Crazyegg is a tool that shows where people click on a website and where they don’t.
When Neil Patel and his team were doing consulting years ago they found that people were coming to them saying “Hey, we are spending money on advertising and we don’t know why people are buying and why others aren’t.
So they asked potential clients how they want it to be solved.
Most corporations came back to them saying that they see all these numbers but they are not number people. They wanted something visual that explains why some people are buying and some are not.
So Neil Patel created multiple versions of Crazyegg until they got it right. And they got feedback throughout the whole process until customers were like – “Yes, we will pay for this.”
5 TIME FRAME OF CORRECT EXECUTION WHEN NEIL PATEL BUILT CRAZYEGG
It took less than a month to get feedback.
Technically they were trying to get feedback every single week. But they had major differences in version usually in 30 days. And eventually when customers were saying little things and they were nitpicking, Neil Patel figured out that the customers were ready to pay.
It took 6 months and 6 major iterations before Crazyegg started getting paying customers.
And they also released the iterations to news websites as Crazyegg was getting built. They also blogged about the minor iterations. This created a lot of buzz and they had 10000 people on the waiting list before product launch.
6 ADVANTAGES OF EXECUTION BY BREAKING THINGS DOWN INTO SMALL BITE SIZES
1) KEEPS ERROR RATE DOWN – Since you get feedback throughout the process you will not build something nobody wants.
2) CREATES A BUZZ BEFORE PRODUCT LAUNCH – People love getting things they think they are not supposed to get. So it’s possible to create a buzz and you will have people ready to pay in the waiting list.
WHAT NEXT ?
I hope you guys found the article useful. Don’t forget to implement, because knowledge without execution is like a Lamborghini that is parked in the garage.
Feel free to write your comments down below. I will anwer them 🙂