Nathan Latka is the founder of Heyo, a company that has helped thousands of businesses get more leads through smart social media campaigns and his company was recently acquired by one of his competitors. He is also the host of one of the most successful business podcasts called The Top  where he interviews the top entrepreneurs in money, marketing, business, and life. He has also been featured in several major publications including Forbes, Inc, Inside Facebook, The Wallstreet Journal and USA Today.

Click to tweet: “The way you win is by doing the same thing, longer than anybody else, more consistently.” – Nathan Latka on Successful Dropout

Time Stamped Notes

  • 00:40 – Kylon’s intro
  • 01:37 – Nathan runs on nuclear power? People who are rich are always the laziest.
  • 02:15 – Nathan talks about the 2,000,000 downloads his podcast has and why he thinks it’s been so successful.
  • 03:56 – The worst thing you can do is listen to someone who is bull******** you.
  • 07:18 – Every morning you wake up, you have a limited amount of decision making power for the day. Lessons on being more efficient and streamlined. The wealthiest people have nothing on their calendars.
  • 08:15 – The advantages of brainwashing yourself. Nathan brainwashes himself on a regular basis.
  • 09:38 – Nathan is going to become president of the United States in the year 2036.
  • 11:18 – You have to have ego to win.
  • 12:18 – Nathan tells us the story of why he dropped out of college
  • 12:22 – Nathan pre-sold 73k worth of product before he left college
  • 13:24 – What the product was and how Nathan sold it
  • 14:38 – The message Nathan sent everyone he pre-sold too – write this down!
  • 16:14 – If the market is not going to buy something, why even put the time into building it? Pre-sell and you can just refund if it doesn’t work.
  • 17:30 – From age 20-25, grew to over 10k monthly paying users, 25 full time employees, over 5 million in sales and raised over 2.5 million dollar from a Forbes Billionaire.
  • 18:10 – Nathan sold Heyo and expounds on the strategy he used to double the sale price, and then double it again.
  • 21:40 – How did Nathan’s friends and family react to him dropping out?
  • 22:52 – If dropping out feels like a big risk for you, you’ve lost
  • 23:00 – The people who become the wealthiest and most successful understand what life would be like if they lost everything.
  • 25:53 – We live in America, the worst case scenario is not that bad. You can always to back to school.
  • 27:27 – Nathan isn’t worried about money any more. Passive income and building assets that pay you.
  • 29:50 – Nathan reads a book a day!
  • 30:39 – Worst entrepreneurial moment
  • 31:40 – Lightbulb moment
  • 32:22 – Why “hesitation is the enemy of hustle” isn’t a good message.
  • 33:26 – Always set your opportunity cost really high and you will get more done
  • 33:58 – Nathan loves it when people tell him he can’t do something.
  • 34:40 – It’s easier to control your expenses than chase more revenue
  • 35:05 – Delete and cancel as many meetings as possible
  • 35:24 – MAKE A LOT OF MONEY PEOPLE. Get rich, and then you can do all sorts of positive things in the world.
  • 35:58 – Confidence is an essential quality to being an entrepreneur
  • 37:03 – Nathan shares an incredible resource for email
  • 38:48 – What is Latka’s next big goal?
  • 39:40 – Advice for you if you haven’t dropped out yet
  • 39:57 – Advice for you if you’ve already dropped out
  • 40:10 – Best way people can connect with Nathan

4 Key Points

  1. Every day you have a limited amount of decision making power. Eliminate small decisions (ie. what to wear, what to eat) as much as you can so you have more power left for higher impact decisions.
  2. Know the board game you are about to play, and then beat it by studying the rules.
  3. The second you understand and accept the worst case scenario, you are prepared to take bigger risks
  4. The way you win is by doing the same thing, longer than anybody else, more consistently.

Resources Mentioned

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