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In episode #582, Eric and Neil explain why you shouldn’t be too patient. Tune in to hear why patience in the short-term will kill your business.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: The Fact That You’re Not Growing Fast Enough Because of 1 Thing – You’re Too Patient
- [00:36] The moment you’re too satisfied, someone is going to come around and beat you at your own game.
- [00:56] The moment you’re patient in marketing, means you have decided to remain complacent.
- [01:15] Consider your business a fight to the death.
- [01:40] There are two things to consider: short-term, there needs to be urgency; long term, it’s important to be patient with some aspects of your job.
- [02:20] Business takes time, but in the short-term experiment!
- [02:40] Neil always says, “what else could we do to get better results right away?”
- [03:11] Push forward and look for new ways to grow.
- [03:30] Do the tactics that require long-term patience, but consider other marketing avenues at the same time.
- [04:09] Look for people who focus on one aspect of marketing and follow their example in that area.
- [04:40] It’s important to hire specialists, but also have a rhythm or cadence where people can be held accountable.
- [04:56] Read Rocket Fuel, it’s about the concept of having a visionary and integrator on your team.
- [05:11] Also read Traction.
- [05:39] Get the tool 15Five, that checks in with your team each week and helps you keep your finger on the pulse of your company.
- [05:50] Neil does Monday, Wednesday, Friday meetings with progressive goals for each meeting.
- [06:35] He rewards his team for results.
- [06:51] That’s it for today!
- [06:59] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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Full Transcript of The Episode
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu.
Neil Patel: I'm Neil Patel.
Eric Siu: Today, we're going to talk about the fact that you're not growing fast enough because of one reason. You're too patient. Neil, what are your thoughts around this?
Neil Patel: The moment you're too patient and you're satisfied with how everything's going, some little kid is going to compete with you, and he's just going to knock you off. Never be patient. Never accept your growth. Never accept your success. Always strive for more. In marketing, the moment you're patient, be like, "Oh, yeah. SEO takes a year to kick in, so I'm gonna be patient and let's just see what happens a year from now." Doing that, you could go a whole year and not get any results from SEO and you'll be like, "Oh, the business isn't really working out. Hmm, what should we do? Maybe we should try out other marketing channels." You can't be that patient.
Think of this as the fight to the death. You have to do whatever it takes to succeed, and you can't be like, "Oh, I'm just gonna chill here and wait for war, and then when people come with knives, maybe we'll create some swords and, like, try to fight them." No, you always have to be prepared. Assume the worst case. Go out there and never accept your marketing results and always ask for more.
Eric Siu: I think the key here is ... There's two schools of thought here, or not two schools of thoughts, but there's two things to consider here. Short term, there has to be urgency. There has to be speed. Long term, macro, I think when you look back, it's like, "Wow, look at all the things we've done long term." Long term, it's important to be patient, but short term, I think the way Neil and I look at things, and we tend to spazz out. Maybe spazz out's not the right word, but we want things to happen yesterday basically. We're both very similar in that respect, but, also, when I look at the agency, Single Grain, for example, it took a while to get things going. It took the Growth Everywhere Podcast a while to get going because they were, basically, completely new things being built from scratch, but the understanding is business takes time. Content takes time, as well, but, yes, micro, in the short term, we were doing so many different things to see what would stick.
Neil talked about the concept of throwing spaghetti against the wall, trying many things, not being patient in the short term, but long term, being okay, that understanding that, hey, things are going to work out as long as we continue to following this framework.
Neil Patel: With my team, every time we tried doing marketing, and they're just like, "Oh, yeah, SEO takes a while. It's gonna kick in with one of our sites," and I ended up telling them, "All right, well, we know it's gonna end up working, and because we've been doing this for a long time, what else could we do to get better results right away? It could be, A, let's rewrite all our old content because we know eventually Google's not gonna like it, and even users, it's not beneficial to them, or, hey, we know that Facebook advertising is eventually gonna get more and more crowded, so we're gonna have to look for new channels." By just continuing pushing forward and looking for new ways to grow and having that mentality of, "Hey, we did a good job with one thing, we should go look for something else," it's a great way to keep pushing forward and continually getting results faster than anyone else because we're never satisfied.
We don't want to wait six months. We don't want to wait one year. Sure, we'll do the tactics that require one year's worth of patience or even two years, but, in the meantime, we're going to keep doing 10, 20 other things so, that way, we can keep growing and not all of our marketing eggs are in one basket, and that's where I see businesses making a mistake. They'll try one tactic at a time, and, yes, if you're a brand new company and you want to experiment, start off that way, but once you're in business and you're making money, you shouldn't be doing one thing at a time and waiting for it to get results before you move on to the next. You should be doing as many marketing tactics as your team or your contractors or whoever it may be can handle, and look for people who focus because they're going to be your best shot.
Look for someone who just does SEO to focus on your SEO. Look for someone who just does pay per click on Google AdWords, not paid on Facebook, but just paid on Google AdWords. Look for someone who just does paid on Facebook because they'll have better advice and input on who it works versus the person who does paid on "Taboola or Outbrain" or any other network, but by pushing every single channel at the same time, eventually, you'll see results, even if some things takes longer than you want.
Eric Siu: I'll give you a couple tactical things before I hop off from my side, but it's important to hold your ... Neil talked about, basically, hiring people, specialists, and, well, yes, hiring people, that's one part of the thing, but, also, at the same time, having a rhythm, having a cadence where you're able to hold people accountable, and maybe it's not Neil, maybe it's not myself, but get the book, Rocket Fuel. It's by Gino Wickman. It's about the concept of having a visionary and an integrator. Those of you that are running a business, you're probably a visionary. You're coming up with all the ideas, but you need an integrator to help you see things through, to hold people accountable, as well.
Then, also, get the book, Traction. That's also by the same author I believe. Traction: Entrepreneur's Operating System, not the marketing book. Get that. We've been using the Traction meetings. Neil Patel's digital team, the agency, they've been using Traction meetings, as well. It works really well. It holds people accountable. We solve issues. We keep things going. That builds in the short-term machine that you need and while keeping the long term in mind, as well.
The final thing I'll add from my side is get the tool, 15Five. That's the number 15, Five. That checks in with everyone every single week and also shows, has very specific metrics, too, and that keeps a good pulse on your company, too.
Neil Patel: The way I run my internal marketing teams to get the most result is I do Monday, Wednesday, Friday meetings. Monday, people come up with experiments that can help move the needle. Tuesday, at the latest, they're picked and people work on implementing them. Wednesday, we go over the experiment, just making sure that everyone's implemented them and it's up and running. Friday, we go over the results. If you can't get results quick enough, that's fine. It can be one of those longer term experiments, but you should have short-term experiments that you can figure out within that same week if it's going to work or not, and by iterating that fast, you don't have to keep waiting or relying on sources of marketing that take a long time. Your team will have that mentality of, "Hey, we need to keep go, go, go every single week and see results."
I also do bonuses and antes. Whichever team creates the best performance or the best results ends up winning something. By doing that, you'll find that your team won't be patient, and they'll get you results quicker than if you didn't do that bonus structure or the Monday, Wednesday, Friday meetings with your team.
Eric Siu: All right. That's it for today. I think we got a couple new ideas here for bonus and antes and how to get the most out of your team, but we'll talk about that later. Go to SingleGrain.com/giveaway to check out the marketing goodies. Get them. Check them out. Again, we will see you tomorrow. Hope you have a good day.
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