Neil Patel

do whatever you're passionate about. If you already know you love something like cooking or making necklaces or hats, go do that. If you're like, one day I want to start a business in this space, instead of just going off and starting a business, I highly recommend working for someone for a little bit. Ideally a fast growing growth stage startup, not an early startup, but a growth stage one.

do whatever you're passionate about. If you already know you love something like cooking or making necklaces or hats, go do that. If you're like, one day I want to start a business in this space, instead of just going off and starting a business, I highly recommend working for someone for a little bit. Ideally a fast growing growth stage startup, not an early startup, but a growth stage one.

So you can learn from a lot of their mistakes and also build up your Rolodex and gain connections from working there for a little bit. And then go venture off on your own because you'll avoid making a lot of the common mistakes.

So you can learn from a lot of their mistakes and also build up your Rolodex and gain connections from working there for a little bit. And then go venture off on your own because you'll avoid making a lot of the common mistakes.

If you have a few hundred grand, I would recommend investing in yourself. You're gonna be the best investment, hands down, whether it's leveling up your skillset, your knowledge, your Rolodex, your connections, whatever it may be, invest in yourself.

If you have a few hundred grand, I would recommend investing in yourself. You're gonna be the best investment, hands down, whether it's leveling up your skillset, your knowledge, your Rolodex, your connections, whatever it may be, invest in yourself.

If you wanna park money somewhere else, stock market, startups, or whatever it may be, I would actually start off with the companies that you use on a daily basis that you're super passionate about. So for example, if you know all you and your friends are addicted to buying on Amazon instead of going to Walmart, then just buy a little bit of Amazon stock. For sure. It's a really simple model.

If you wanna park money somewhere else, stock market, startups, or whatever it may be, I would actually start off with the companies that you use on a daily basis that you're super passionate about. So for example, if you know all you and your friends are addicted to buying on Amazon instead of going to Walmart, then just buy a little bit of Amazon stock. For sure. It's a really simple model.

But if you're the only friend that's really into something, let's say like this energy drink, and you're the only one really consuming it and no one else is, you may want to be careful putting your money in that. But if it's an established company that you know everyone uses and loves and they're continually growing, park some of your money there. Not a lot.

But if you're the only friend that's really into something, let's say like this energy drink, and you're the only one really consuming it and no one else is, you may want to be careful putting your money in that. But if it's an established company that you know everyone uses and loves and they're continually growing, park some of your money there. Not a lot.

If you have 100 grand, you can park 3%, 4%, 5% max into something.

If you have 100 grand, you can park 3%, 4%, 5% max into something.

I think it's Monster Energy?

I think it's Monster Energy?

I haven't invested in a company in ages. I stopped because it was too much work and I don't have the time. But what I started doing was just investing in funds and then let them pick and choose. I started dealing with all the K1s for tax time. When I used to invest in companies, I would look at things like, first off, is it a big TAM? TAM stands for Total Addressable Market.

I haven't invested in a company in ages. I stopped because it was too much work and I don't have the time. But what I started doing was just investing in funds and then let them pick and choose. I started dealing with all the K1s for tax time. When I used to invest in companies, I would look at things like, first off, is it a big TAM? TAM stands for Total Addressable Market.

It doesn't matter how good you are at execution. If you go after a really tiny market, if you capture a hundred percent of it, you're only going to make so much money. So you want to go after big markets where people are spending hundreds of billions a year. If someone captures 1% of it, you're generating a billion in revenue a year. That's a lot of money.

It doesn't matter how good you are at execution. If you go after a really tiny market, if you capture a hundred percent of it, you're only going to make so much money. So you want to go after big markets where people are spending hundreds of billions a year. If someone captures 1% of it, you're generating a billion in revenue a year. That's a lot of money.

You got a business that can sell for a crap ton of cash for that. So first is a big TAM, second is a team. The team needs to compliment each other and they need to have ideally experience within that category. And the third thing I look for is traction. If someone can't build something or create something and get it out there without money,

You got a business that can sell for a crap ton of cash for that. So first is a big TAM, second is a team. The team needs to compliment each other and they need to have ideally experience within that category. And the third thing I look for is traction. If someone can't build something or create something and get it out there without money,