Neil Patel on Entrepreneurship, Failure and Startup Mistakes
Neil Patel is a well known personality on the web – he is founder of 2 startups (Kissmetrics and CrazyEgg). WSJ even named him among the top influencer on the web. Through his entrepreneurial career he has helped large corporations such as Amazon, AOL, GM, HP and Viacom make more money from the web.
He has also been recognized as a top 100 entrepreneur under the age of 30 by President Obama.
In a conversation with Pluggd.in, Neil shares his journey and importantly, lessons which entrepreneurs can surely learn from him (well, he has failed multiple times and even lost a million dollar)
1. What’s the big deal behind being a big deal? How did it all start?
I wanted to write a book and the title of the book was ‘I am kind of a big deal’. The topic of the book was personal branding and how a lot of times people are successful because of who they know and not necessarily how smart they are. That is, you go out , network, get to know more people and build up your brand.
2. Plain lucky? Or.. ?
I went through a lot of failures. My first failure was a Monster like job board. My second failure was a web hosting company and I lost million dollar. I had quite a few failures along the path.
If you don’t repeat them and if you keep on moving forward, you are more likely to succeed.
3. Why launch Kissmetrics when you were already running CrazyEgg?
Kissmetrics was started to solve our own problems. While Google Analytics showed standard metrics like page views etc, it doesn’t tell you LTV, churn, conversion rates, Cohorts etc. We wanted all those customer metrics to fine tune our business.
We thought maybe a whole lot of people have the same problem as well.
4. You are running two startups, advise quite a few of them and also have an active blog. What’s your typical day like?
I spend 1/3 rd of my time on email. Most of my time is spent on defining strategy, marketing focused metrics. I typically blog every sunday and Wednesday night (and publish on Monday and Thursday respectively).
5. Tips to Entrepreneurs.
Instead of focusing on just one business, focus your business on one aspect. It could be solving one problem or going after a customer base.
6. What are the mistakes you made?
Neil candidly shares mistakes he has committed – right from bad execution to lack of focus.
Watch the video: