“Whatever you’re spending time on, just give it 110% because you’re making those moments count.”
Rhett Power, an accomplished entrepreneur and author, recently sat down with Neil Patel for an exclusive interview.
0:00 Intro
0:49 What define’s you?
1:09 What’s your motivation?
3:42 How do you hire amazing people?
5:05 How do you find harmony with work & life?
6:47 How can a business be successful with inbound marketing?
8:29 What’s the best place to find information about Ad Spend?
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When I started out as an entrepreneur, I didn’t have money to pay people, mentors, coaches or any of that. And a lot of people helped me out for free and helped me get to where I am. So then when I started making some money, I tried paying some of these people, and they’re like, “No just keep paying it forward”. And I loved it. So that’s where a lot of the drive comes from. The results, the accolades, the awards, that comes from having an amazing team. It’s not me, it’s the team.
You need amazing people. Taking care of people is easy. Compensate them, be there when they’re having personal problems. I don’t believe in this is work, leave your personal issues at home. I believe in, oh, you have personal issues. Can I help you solve any of them?
Your team members are like family members, but how to hire great people? It is actually a very easy way to do it. Go look on LinkedIn, find people that are in the exact role that you’re hiring for. Look for people who have done that within your industry. At least at two other competitors. Not one, but two. If they have direct market experience and they’re at multiple competitors the chance are they’ll do well for you. Now the other layer that I like adding on top of this is make sure that they’ve been at those companies for a while. So that way, you know, they’re loyal, they’re not just hopping around. You got to make sure they’re a cultural fit.
When you interview people, people always say, yeah, I did this. And I caused these results. You don’t really ever know. You can’t call up their boss and be like did they actually do this? Because I’m looking to poach them. But what you can do is see if they’ve been promoted multiple times at that company. See if they’re that amazing. They would’ve, in most cases, been promoted multiple times.
I have an assistant who helps me with my daily tasks and daily life, which helps out a lot. I’ve used Google Calendar for everything. I use Tasks for everything. I don’t go to sleep until all my emails are read. I try to do that every night, unless I’m on a plane with no internet, and I don’t have as much of a work-life balance. You know, I would love to say I spend a ton of time with my kids, but for the time I do spend, I make it count. So whatever I’m spending time on, I try to make it 110%. Because even in the small amount of minutes or hours, it all adds up and you just got to give it your all.
On the flip side, I know a lot of people who spend time with their kids and a lot of time, but they’re just watching TV and then ignoring them in the background. On the flip side, I’ll play with them. I’ll let my daughter put makeup on my face. Although it’s fake makeup. But whatever you’re spending time on, just give it 110% because you’re making those moments count.
A lot of businesses believe that, oh, my competition’s doing really well on Google. I need to do SEO, or I need to do paid advertising because they do it. It’s actually not one channel that makes a business anymore. See, Facebook back in the day, grew through that email viral loop, so-and-so is on Facebook, and they invited you to join it. Dropbox grew through social sharing we need to get more space. All channels eventually get crowded, competitive, and expensive. The way to do well in inbound marketing today and in the future is to take an omnichannel approach.
When someone sees or interacts with your brand seven times, they’re much more likely to talk about you to other people, and that’s where you generate the majority of your revenue. And you need to generate more loyal customers by just being omnipresent and being throughout multiple channels. Because what we found is when your omnichannel people are more willing to buy from you because they’re seeing your brand constantly and they start trusting you.
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If someone sees or interacts
with your brand seven times, They're much more likely
to evangelize you, Become loyal, love you, talk
about you to other people, And that's where you generate
the majority of your revenue. Hi, it's Rhett Power. It's great to be here today. I've got Neil Patel who
just came off stage. It was an amazing talk. Now I've got to go through
Neil's, sort of, accolades. New York Times bestseller,
listen, top influencer, Wall Street Journal,
top influencer, Forbes. We say that you're a top,
one of the top 10 marketers, Entrepreneur says you're One of the most brilliant entrepreneurs. You're recognized, you were
recognized by President Obama. – Yeah. – So is, does that define Neil Patel? – No. All those accolades, all the awards? – Not really, I just see
myself as an average guy. Suck at sports, I love Netflix,
hang out a lot with my kids. My kid wakes me up every day banging On my head with a remote
control to turn on TV. Like I just see myself as a normal person. – Okay, well how do you attribute Where you've gotten to professionally? What, what's sort of the,
what drive do you have? Where does the motivation come from? Where do you find the
inspiration in your content? Talk about that a little bit. Talk about that journey,
because I think that journey, A lot of people say, you
say you're a normal guy, But I want to, I want to
get into that a little bit. Why, why you've been successful.
If you're a normal guy, how
are you so super successful? – Well, first off, the drive comes from Loving to help people. So when I started out as an entrepreneur – [Rhett] Okay – I didn't have money to
pay people, mentors, coaches Or any of that. And a lot of people helped me out for free And helped me get to where I am. So then when I started making some money, I tried paying some of these people, And they're like, "No just
keep paying it forward". And I loved it. And getting that satisfaction of let's say Like that mom in the middle
of nowhere saying like, Hey, I lived in the middle
of the United States. My son worked at Home
Depot, my husband left me, I own a bed and breakfast, and
I can't send him to college, Which is what his dream was. But I read some marketing tips where Bed and breakfast is now fully booked, My son was able to quit Home Depot, I paid for his college and
he could live a better life, Like that makes me happy. So that's where a lot
of the drive comes from. The results, the accolades, the awards, That comes from having an amazing team. It's not me, it's the team. It doesn't matter how talented you are, Even if you're Elon Musk,
you're not going to send rockets Up into space without an amazing team. SpaceX, Tesla, they're
all great companies. Elon is tremendous. No one should ever discount him.
But what makes him so great
also is his amazing team. Without that amazing team,
Tesla wouldn't be as good. SpaceX wouldn't be as good – [Rhett] Right, right. – You need amazing people. The people, Forbes is a great company. It's the people who write amazing content, Create amazing content at Forbes That makes Forbes so popular. – Yeah, how do you, because
one of the struggles, I mean I was an entrepreneur, at a toy company, And one of the things
that really struck a chord That you just said was, you know, We got lucky one year at
Toy Fair, and we walked out, We were a hundred thousand dollar company, We walked out a 9 million dollar company. And the reason that happened,
and the reason we were able To fulfill those orders, is
because we had paid our vendors, Even when we didn't really have the money To pay our vendors. And they came, they went to bat for us When we got all those orders, they said, Look we'll give you six months of credit. And they stood by us when we – That's awesome. – When we blew it up. And I mean, it sounds like
what you're saying to me is Like you, you got to take
care, is that, is that really – You got to take care of people But also hire amazing people. – [Rhett] How do you do that? That's the trick. – So taking care of people is easy. Compensate them, be
there when they're having
Personal problems. I don't believe in this is work, Leave your personal issues at home. I believe in, oh, you
have personal issues. Can I help you solve any of them? Great love to, right? Your team members are like family members, But how to hire great people. It is actually a very easy way to do it. Go look on LinkedIn,
go find people that are In the exact role that you're hiring for. Look for people who have done
that within your industry. At least at two other competitors. Not one, but two. Cause if they have
direct market experience And they're at multiple competitors The chance are they'll do well for you. Now the other layer that
I like adding on top Of this is make sure that they've been At those companies for a while. So that way, you know, they're loyal, They're not just hopping around. You got to make sure
they're a cultural fit. And you have to make sure that Those other companies found them valuable. See, when you interview people, People always say, yeah, I did this. And I caused these results. You don't really ever know. You can't call up their boss and be like Did they actually do this? Because I'm looking to poach them. But what you can do is see
if they've been promoted Multiple times at that company.
See if they're that amazing. They would've, in most cases,
been promoted multiple times. – [Rhett] Right. – And if they worked at
two other competitors, They started from the bottom, They've been promoted multiple
times at both organizations, Been there a while, and
they're a cultural fit, The chances are they'll be able to do it The third time successfully
for you as well. – Yeah, I mean that's, I
think that's goal right there. How do you, you're a software, I mean You've got a software company,
agency, personal branding, You're speaking, how do
you, and I hate the word Work-life balance. – Yeah. – How do you find harmony
when you're trying To manage all of that? Like what's, what's your
system that you have, You must have a system
or some sort of method Or just you have an accountability person That like keeps you, you
know, keeps you in check. How do you manage all of that? – So I have an assistant who helps me With my daily tasks and daily
life, which helps out a lot. I've used Google Calendar for everything. I use Tasks for everything. I don't go to sleep until
all my emails are read. I try to do that every night, Unless I'm in a plane with no internet, And I don't have as much
of a work-life balance. You know, I would love to say I spend a ton of time with my kids, But for the time I do
spend, I make it count. So whatever I'm spending time
on, I try to make it 110%.
Because even in the small
amount of minutes or hours, It all adds up and you just
got to give it your all. – [Rhett] Right. – On the flip side, I know a lot of people Who spend time with their
kids and a lot of time, But they're just watching
TV and then ignoring Them in the background. On the flip side, I'll play with them. I'll let my daughter
put makeup on my face. Although it's fake makeup. – [Rhett] Do you have any pictures? – Actually, I do. Not on my phone, but my wife does. Whatever makes her happy. Like I'm 110% into anything I do. So that way I'm getting
the most out of my time. Yes, I do need a better balance. That's hard because I love
my family and I love working And I can't stop, and
my family accepts it. But whatever you're spending time on, Just give it 110% because you're
making those moments count. – What's, I'm going to
switch gears completely now. – Yeah. – How do you, how can
businesses be successful With inbound marketing in 2022? – Yeah, so this is a funny one. A lot of businesses believe that, oh, My competition's doing
really well on Google. I need to do SEO, or I
need to do paid advertising Because they do it. It's actually not one channel
that makes a business anymore. See, Facebook back in the day, Grew through that email viral loop, So-and-so is on Facebook,
they invited you to join it.
Dropbox grew through social sharing We need to get more space. All channels eventually get Crowded, competitive, and expensive. The way to do well in
inbound marketing today And in the future is to take
an omnichannel approach. – [Rhett] Okay. – You, you got to do press, Whether it's being featured
on Forbes or somewhere else. – [Rhett] Right. Or on TV, you got to do
SEO, you got to do paid ads. People are like, is SEO
better than paid ads? No, you do all channels as
long as they're profitable And they work out. You got to do social media,
whether Facebook's algorithm Favors you or it doesn't favor you. By being on all channels, You're going to create something
in this brand awareness, In marketing it's called
the rule of seven. When someone sees or interacts
with your brand seven times, They're much more likely
to evangelize you, Become loyal, love you, talk
about you to other people, And that's where you generate
the majority of your revenue. And an interesting stat from Adobe, Roughly 40% of your revenue
comes from 8% of your visitors. – [Rhett] Really? – And those are the repeat visitors. They keep buying from you, And that's coming from
8% who become loyal. And you need to generate
more loyal customers By just being omnipresence And being throughout multiple channels. Because what we found is
when you're omnichannel People are more willing to buy
From you because they're
seeing your brand constantly And they start trusting you. – Where do, where do
we get our information? I mean, as a CEO of a smaller company now, Where do I get really good
information about that ad spend? About – Yeah – You know, where can I
find that information? – A lot of Google searches – [Rhett] Right. – There's a lot of tools. Like we have one called
Ubersuggest, which is free. There's tools out there like SEM Rush, Google Analytics provides a
lot of data with your own site. But yeah, there's similar web For market research on your competition. But the data's out there and
it's accessible for free. – Yeah, I mean, I think that's
the toughest thing to do Is find out where you should
spend your money, right? – Yes. – And where you should put that ad money. – And it's all about ROI. What works for your competition
may not work for you. If you spend all you can make, too, Spend as much as you can
as long as it's profitable. The moment you spend a dollar And you're losing 50 cents,
you've spent too much. – All right, yeah,
we've got to wrap it up. I hate to go, but thank you so much. – Thanks for having me.
