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Where do you see the brand in five years, the Neil Patel brand? Or are you even thinking that far? You’re not even thinking in five years, are you just like month by month, year by year?
I do think that far, I probably even over a ten year period.
My business plan is globalization. If you look at most people, especially in the entrepreneurship and marketing space, or in business in general, they’re focusing on the US market or English-speaking markets.
You know where Salesforce makes the majority of their revenue?
Japan is their number two market. Then you get to the Asia Pacific, and Europe, and different parts, but this is what most companies don’t do.
Everyone is focused on English.
I know there’s a lot of money in the English speaking audience.
But in Brazil? They don’t have as much money. The currency exchange difference is around 3, 3 and a half. You’re not going to make as much money.
At least you’re not going to make as much per transaction, but here’s what people don’t tell you. There’s very little to no competition.
So if you have a business plan to expand into these regions, Google, all these social sites don’t have enough content within those languages.
It’s much easier to get the social shares, it’s much easier to get the Google rankings, and you can dominate.
Even the venture-funded companies in the US aren’t thinking enough about globalization.
My strategy? Go after all the regions.
I dump all of the profit that I would have personally kept into buying competitors, building my brand, and global expansion.
My business partner Mike, who runs my ad agency, Neil Patel Digital, thinks I’m crazy because I take my share of the profits, and I just dump it all back in into growing more., I don’t care for a check.
That’s my mentality, and sure, I’m in a place where I can do that, but I also don’t have crazy expenses where I need to make money every single month.
You guys may not be there yet, and that’s okay, just don’t spend a lot, and you’ll get there faster. The your business plan is that you want to grow, take all the money you’re making, and double down into your business, and just grow internationally.
No one’s putting the money into Brazil, Latin America, into Europe, into Asia, and I wish I could put ten times more money, but I don’t have enough, into all these regions.
I see the economics and how it makes money, and funny enough, we have high-profit margins in Brazil, it’s growing fast, heck, even though the customers don’t spend as much as they do in the US because there’s no competition.
The ad agency in Brazil is growing faster than it is in the United States, and in the long run, it may even have the possibility to make more money because we’re not competing with anyone else.
So don’t be afraid to go overseas.
I don’t speak Portuguese. I don’t speak that much Spanish. I don’t know the cultures. But I’m willing to travel, go and learn, and do whatever.
I don’t want to stay in the Four Seasons or Ritz Carlton. I want to tough it out and rough it with the locals who are there so I can understand their culture. Do whatever it takes to understand the people in the rest of the world, cause most people don’t speak English.
If you want to do well, go after everyone else out there that doesn’t speak English and go and expand there.
You may think you’re not the best marketer, you may think you’re not the best designer or product person, you may not have the best website, but it’s okay! You don’t have a ton of competitors overseas.
So just go out there and go after them. Trust me; you’ll do well if you just do one-tenth of the stuff I’m saying, cause in those regions, people are ranking on page one of Google for terms like “auto insurance,” which is “Segura” in places like Brazil, and like, three months without doing much.
Sure, you won’t monetize as well, but there’s no competition, and eventually, the monetization will catch up.