So many of you send us messages asking for more detailed business advice from Gary - that’s why we love putting out these 4Ds sessions where Gary really digs in deep into the tactics of growing businesses with CEOs and entrepreneurs.
Thanks for watching!
Check out another series on my channel:
Tea With GaryVee (Fan Q&A Series): https://youtube.com/playlist?list=PLfA33-E9P7FBahSYlSAjOMGsuRPLMWWEO
Overrated Underrated (Hot-takes on Culture): https://www.youtube.com/watch?v=TUSNSqA62uI&t=0s
Gary Vaynerchuk Original Films: https://youtube.com/playlist?list=PLfA33-E9P7FAvnrOcgy4MvIcCXxoyjuku
Trash Talk: https://youtube.com/playlist?list=PLfA33-E9P7FDelN4bXFgtJuczC9HHmm2-
WeeklyVee: https://youtube.com/playlist?list=PLfA33-E9P7FBPjdQcF6uedz9fdk8XKn-b
Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern-day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity: Water. He’s also an avid sports card investor and collector. He lives in New York City.
Thanks for watching!
Check out another series on my channel:
Tea With GaryVee (Fan Q&A Series): https://youtube.com/playlist?list=PLfA33-E9P7FBahSYlSAjOMGsuRPLMWWEO
Overrated Underrated (Hot-takes on Culture): https://www.youtube.com/watch?v=TUSNSqA62uI&t=0s
Gary Vaynerchuk Original Films: https://youtube.com/playlist?list=PLfA33-E9P7FAvnrOcgy4MvIcCXxoyjuku
Trash Talk: https://youtube.com/playlist?list=PLfA33-E9P7FDelN4bXFgtJuczC9HHmm2-
WeeklyVee: https://youtube.com/playlist?list=PLfA33-E9P7FBPjdQcF6uedz9fdk8XKn-b
Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern-day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity: Water. He’s also an avid sports card investor and collector. He lives in New York City.
I'm completely convinced that the future of fundraising is going to come in nft forum, not in indiegogo and gofundme, because people have a double asset play there. I actually think it's how every artist is going to do album releases in the future. Instead of going to a record label, they're going gon na, have the fans be a part of it so something to put on your radar? This portion is like with me, so i think this is when you need to get selfish like you need to ask your question: hiring is guessing firing is knowing like you got to go fast. That's how you get done, that's how you figure stuff out this is the television and the television is the radio the 40s up and who all of you are starting.
This way sure uh keep it real short yeah. Keep it quick and we're gon na go back around yeah. My name is ivan. I am a dentist uh by training.
I do ed tech for dentists and we're actually moving to our medical to provide a medical device for them as well. That's awesome central valley, central valley, very nice. My name is david mohler, i'm a serial entrepreneur. Current startup is uh device, uh smart device, company, smart device company, how long you've been doing it for three years nice and where are you based in atlanta, georgia, very nice how's? It going good to see you donald wymack capital um mortgage broker with the b2b model.
In the bay area, you met russell a few months back. Yes, i remember virtually, i remember good, to see you again: billy richardson um, i'm in the restaurant business in las vegas, very nice four little restaurants and throwing my brands up how long you been doing it. Uh uh uh 12 years, good for you all in vegas the whole time, vegas yeah, of course, tough yep pleasure. Thank you ian matthews uh from washington, d.c and uh, i'm here with david same company right now, uh building on what he said.
Uh smart devices were in the car security business, so it's uh nice and connected understood real pleasure. Okay long time. Yes long time, brother yeah, so two in 2009 yeah really really good to see you yeah so three-time founder all the investment space and uh i'm gon na build something else there and then i have a bunch of urls that i've been acquiring that i want to Talk to i love, i love it. Monique brown.
I run an organization that teaches life skills. I also work in film and television production, a little real estate, investment and brand development for my husband's uh, legendary career and uh and uh and and film entertainment life. It's awesome. It's great to see you again great.
Thank you great anybody else, joe nope. That's it good. We got a nice small group and we can get. We can go very deep today, so let's take advantage of that.
So let's go back around and this is the time to get very selfish and be very direct with your question. I'm sure some people pick up nuances on it. Okay, you want to go first, all right, um i'll try to keep it, try to keep it concise, we'll have some time. We've got three questions for you, um just a little bit of backstory on myself. I was very much like like you as a kid. You know hustler immigrant parents kind of a hard uh struggle there. I ended up going to dental school. I got some really niche training in my field, which was great, but i graduated about 800 grand in student debt, which is crazy, but it's it's normal in that.
I know it is, i was you know, getting ready to come out and pay that debt and crush it. My daughter was born with a life-threatening condition, and so i couldn't really do that as a dentist, so i found another way published a book sold. Thousands of copies and that turned into an online brand, which is now like my edtech business, which does better than i would have done if i would have done just regular clinical, dentistry good for you. So i built a team around it and now we're expanding to a private label medical device as well, so i've got a little nice little business model um, taking some big big steps in that.
So my first question is: i'm basically the bottleneck in my content creation to create like the pillar, hero content. I got to be in there doing surgery or something and and teaching something around that content. It's hard for me to constantly create that content as the business owner i'm trying to outsource that to to other collaborators but kind of having a hard time getting them to feed that funnel other collaborators, as in other people executing the actual surgery. Yes, getting other influencers or people doing surgery, feeding me that content, so we can just repurpose it as a team and turn that into 20 pieces of content having a hard time feeding that funnel.
Why? Because these guys already make 500 000 a year, they don't really need me paying them a thousand bucks for their content. You know as charity. Basically, so i want how do i get them to buy into that or how do i feed the content funnel um? There's a lot of things there. So the let's talk about the pillar content and the funnel is the model that you know.
Obviously, i'm very proud of really working for you, like macro hero chop it down, make it make that into content. That's performing against the business kpi is that working it does well. When i can feed it, i can feed it myself. How how many times are you refurbishing it adding new content, no refurbishing the original content so yeah.
So the repurposing thing is a very important combo because, as most of you probably know so much of my world from a brand building standpoint is predicated on that, and so much of that is predicated on me being filmed doing stuff and that completely got eliminated 18 Months ago i wasn't flying, i wasn't doing this in person, so what ended up happening is at first we did a lot of stuff through zoom and things of that nature, but that obviously, is a very one-dimensional, visual, creative there's only so many times. You can see me with in a t-shirt that you know and the context matters in feed it matters so what ended up happening when i analyzed the last 18 months. I was thinking about on the flight out here, ironically, because i saw a piece of content. Do extremely well from three years ago in the last 24 hours is wow if drock and i never film another thing - i've put enough film on paper on wax on youtube that if i remix it uh in perpetuity, i should be able to be effective with the Evergreen content, one of the things most content creators don't take advantage of enough of is the repurposing truly understanding what that means. I'll give you an example i if you've got, i assume i'm making some assumptions. So keep me in line here. If your content is you performing or when you're doing that, are you also looking to camera and do and teaching and like going through it? Sometimes yes, so i'm sure you probably have seen this the co. One of things you can do immediately is how many of the? How many would you say, pillar pieces of content? Have you created a lot 200 great, so right off the top? There's, probably an ungodly amount of content to be made where you're split screening like i do the original piece of content and now you're, just social commentating contextually on top of it with other variables right.
So to me what what's really interesting about the way i think about content, which i do think for every business here from vegas restaurants to yours to medical devices. You know the whole world is predicated on in on communication and and does that create consideration to buy something. What is interesting about how i look at what i do and what i see working is my content is pretty evergreen literally in my hotel before i came here right now, i just produced a split screen from dailyvee episode, 22 from march 16, 2016, where the person's Question was some: how do you do what you do and the two answers were empathy and gratitude, and here we are five years later and it's like everything that i continue to say, and so i added a piece of content to it right now and i'm pretty Damn sure that, oh i'm sorry so, here's this q a from dailyvee 2022, my split screen, my additional context, went a little bit into gratitude and this is all improv. In my hotel room.
I took the cup of coffee got a little coffee left. I'm like this is full i'm grateful for this what's in here, because i have more than most and then when i sent it to the team. Actually, this is why not to show you um so in the whatsapp thread, where my team lives, where this was the original piece of content. They sent me because we're we're doing this.
We have the same problem. You do right, um, okay, so here's the question. This will now be a visual split screen consumer i'm going you've march 16, 2026 shit's consistent out here, my friends. If you deploy these mental mindsets and at the end of this and then and then what i sent to the team was, i want the title to say you have more than most what's interesting about that. What's interesting, for everybody said so this would be titled. You have more than most, i just split screened a piece. Five years later. I just realized - i said 2026, so i'll have to make a joke of that in a post, edit um.
This is a pretty substantially different piece of content that i'm gon na write copy to that's gon na really focus on the gratitude part of the split screen, but it's i have to do this because i'm at the mercy of the pillar content production, not being where It's at because we haven't started moving if you've done 200 pieces of original pillar content, you probably have 4 000 pieces of micro content that can be brand or performance based as a funnel acquisition. So i think that's what you have to think about. I think the concept of of the other thing to think through is in a world of 500k 100, a thousand dollar framework that you created. They make 500k a year.
They're doing this, basically for charity. If you look at james is pillar content as something that extracts 57 pieces have created for you, because you create post-production from it, it might put you in a position where you're willing to pay them 5. 000, instead of 1 000.. So i think i think the answer to the question is a much deeper thought of post-production, which you don't even have to be the pillar, the bottlenecked of i'm doing the split screens.
You probably should as well, because it's it's much more impactful, but don't underestimate hiring an animator or other people where the split screen or the post creative content could be post-produced in animation or post-producing, video or or overlay wording. So it's post-production. So i realize i'm leaving a lot on the table by not repurposing that enough. Okay and what's fun, is whatever i was going earlier.
I didn't finish. The thought i'm glad i remembered is what i'm saying is evergreen. That's how i got to that 2016 thing. What i'm saying i'll, never change to the day.
I die the slang term, the nuance to something that just happened, so i'm in the evergreen business and then daily you're, using the context of your industry of the moment i mean tomorrow. In you know, in a week in the world series, a player may take a ball to the mouth and lose all his teeth, and that's a pop culture moment that might have you being able to over, which will lead to so much more relevance right. He may make a video of a dish in his of his one of his restaurants four years ago, but something might happen in vegas tomorrow that, if you post produce on top of it the way i'm talking about so it's really the remix. It's the djing of the assets in perpetuity at scale, contextual to the distribution, so, for example, to continue to layer on this for everybody - and i'm going deep on this, because this is an answer for all of you um. It's not only pop culture. Relevance like cody bellinger, losing four teeth, and maybe you can figure out what to do with that. It's also distribution. The way you would the way i would talk if i knew that i'm posting this on linkedin to get clients is gon na be different than the way i would talk if i'm gon na put on tick tock, two platforms that even four years ago weren't even In play, we first met, it was just twitter and facebook, that's it, and so it's post-production not only for what's happening culturally or topical.
It's post-production for the distribution too, those 200 pieces of content. If they've mainly been posted inside of facebook and instagram, have they been done for pre-roll youtube? Have we made them for tick-tock? You may never need to do anything again. You have enough work for the next five years in what we just talked about the last ten minutes. Right, okay, is it okay? I have two more questions all right, so this one's going a little it's a little different, so the medical device, space, uh and dental implants, they're all huge companies they're all really really, big dogs we're the underdog uh.
I've had even ceo of one of one of them is tell me, you know you better not enter the space you're just going to wipe the floor with you. Basically yeah, that's usually the biggest reason i would enter a space so we're based we're entering in. For christmas, yes, that's when we launch um and kind of do this david and goliath type of story. Okay, right! I don't know how much to sass the big dogs, because really i don't want you know i don't have as much funding as they do.
How would you play that by fasting them as much as possible yeah, because i'll tell you why i've always uh? You know i've struggled with this because we have major clients at vayner, who are the number two in categories and they're petrified and i'm like you don't understand, you haven't sassed them or razzed them or poked them in three decades. That's why you continue to be number the only way you know david beats goliath is by going at it. What are they going to do like? Ultimately, what's actually going to happen? Is you're not important enough for them to actually spend the money and reap and resources on it, but you poking them will give you micro market share growth, so just go go hard on it. What are they going to do? Talk it through? What are they going to do out market you? The job are you anyway, so the the person in particular who said he's going to crush us? Basically he's already started.
Two implant companies sold the first 100 million until the second one, 300 million said. You know the next one we're going to price lower than you, and i have the credibility you don't so you're. Basically, the fact that he's even talking to you is already the most interesting thing to me, like the fact that he even acknowledges you, i don't even ign. I would never spend a second on a company smaller than mine, that that's the most interesting part of it. All it speaks to, in my opinion, irrational competitiveness or slash emotion, which could end up being the best thing for you. If you're a thorn in that person's side, he may end up referencing, you more, which is going to only help you i'm fascinated by that. If somebody who's you haven't entered in at all yet and they've already had two exits of those sides, and this is the third one. Price is only just one variable, for example.
This is where this is, where tick-tock really matters price is one thing. Relevance always beats price people pay more for things all the time if they think it's better or cooler or represents them more price doesn't scare me um. What scares me is if david doesn't understand where the arbitrage is, how much is the implant uh, so they're going to price out 100 we're going to price we're thinking at 130.? Yeah i mean i would. I would be very aggressive on tick-tock, very okay yeah.
My last question: for you, gary uh, just as a ceo um, you got ta keep you know you got ta, keep your uh pulse on a lot of yep. If you have family personal family crisis is going on, such as my my daughter's medical condition. It's when the when the hits the fan. Basically, you still got a business to run and bills to pay.
How do you think straight when you can't you, don't you don't, and i think the biggest thing i can tell you my friend, is you know as somebody who has not had to live through a level of challenge of that level? I feel incredibly inappropriate to speak to it first. Second of all, what i've observed from others. The only thing i could tell you that feels incredibly natural to me is my number. One goal in life is not to live with regret.
I don't think there's a single person on earth who chose their business over their family that feels great about it when they get older. I think every moment you spend on your family situation at the expense of your business is a good moment to be spent. Thank you. You got it david yeah, i'm gon na grab a prop.
Please accelerate! I like a good problem. Please it's a prototype, so everyone be gentle, yes, um! So my background, i studied mechanical engineering at georgia, tech and then started on the corporate path and quickly realized that wasn't the best fit ian was my manager 20 years ago ge. I didn't fire him. If that's with you, he didn't probably should have um.
I uh yeah um. Well, i interviewed with them. They were one of my investment banking interviews, uh a friend and i tried out for a reality. Tv show called american inventor in between my first and second year at business school.
I was at harvard, and we actually made it so this is called american inventor - is a precursor to shark tank and uh long story short. We took this bicycle rack convention licensed it to whirlpool, we had a single patent and they went and sold over a million units through distribution through low some people. Awesome um, so i decided not to go into finance goldman, made the right choice and not extending me an offer they detected that would have quit or been fired, probably fired day. One uh so then started a cloud. A website, backup company. I had a website crash raised some money. Ian was an investor in that 10 years ago. We grew it to about 500 000 customers, a million websites backed up sold it for about 30 million.
I don't know three years ago around that time. I've had my car broken into the third time, wow, so just moved to a different part of atlanta. What i thought was a really nice neighborhood had been in two prior neighborhoods. Had my car broken into and a neighbor's car was stolen.
He left his key fob in the in the middle of his his car, and so i just said i'm going to go on amazon and find like ring for my car. I'm going to go, find this thing, buy it and call today. So i searched all. I could find were like the club, old school car alarms and uh and, like dash cams, i forgot about the club, but like legit yeah, that's what was up yeah and then and then one of the top recommendations.
I believe it was baby cam. So you take a baby cam, because it's close enough to your house, you can put it in the car and then see what's going on, and so i had an original idea did a patentability search and um. It came back free and clear so start working on the product. While i was uh, i mean that must be a holy grail scenario for someone with your kind of skill set right like the fact that, like you're living like i think scratching your own itch is always the best start of a business when you have when you're Lucky enough to be an engineer, and you can actually make it, you know for me scratch my own itch in this scenario stops somewhere, which is.
I have no idea how to make the thing for you that i mean that must have been a really fun moment. Right other parts of it, i know how like there's a microwave sensor inside of this thing and the hardware where there's a literally electrons bouncing around inside of this, that allows you to detect someone outside of a car that is like way over my head. So i've had to learn painfully after a software company. How hard hardware is um, parvo is describing with the web group code garbage partner with big hosting providers.
Co-Skater and bluehost they'd. Add us to the checkout list. There's your website back yep with that's how you got your acquisition, that's how we got it. So we grew.
I got it. The claw we sold through big box. So now you know i'm sitting through these sessions and my mind is just blown because the d2c and having an individual conversation with a single customer is uh. It just feels very, very challenging yeah, it's foreign to you, you've been you've been in the b2b business. Very very foreign, and so we've raised four million dollars today. We've got 21 patents. Five of those issued. We launched a techcrunch disrupt battlefield a month ago and right now we're growing our wait list and trying to potentially get some pre-orders and we're thinking, indiegogo or kickstarter.
In the next month, the next steps would be a very wild idea for you, but keep going next. What is the product? Oh, so this is a uh, it's hilarious, so this is uh. It goes in your cup holder. That's what i thought and then you can still put a cup inside of it.
It will detect if there's any motion outside your car and it will flash an led ring and make a really loud, chirping noise, and we call that deterrent mode. Of course, if they open the door, these pir sensors will detect them no false positives. It sounds 120 decibel blast which is really really really loud. Please in your car.
It's an ambulance in your car right, so step one if it gets too too close. It's going to show the person like you might want to pick the next car step two. If the car is super fancy. Ten percent of time people face people breaking in, so that that's big now dude most people just walk around pull up on door handles because people are leaving their car door unlocked or they've left their fob inside of it.
So they walk around. They pull it in or actual theft. You know taking off with your car. So when we looked at this most devices got it so you're talking i'm sorry.
I apologize on the first scenario. You're talking about people just taking not taking the car taking the laptop out of the bag, you totally got it in the door, a billion dollars where the things are taken from cars every year, where the car isn't even being taken yeah and that's just being reported, Which is being reported and there's so much victim, shaming, of course, because someone's car gets broken into and they're like? Did you did you leave it unlocked yeah, just some people like honestly, some people are in the place of like just realizing, like i'm not going to waste the time and report this to police, i'm going to go to best, buy and buy whatever the token absolutely And if you report a police - and they say - oh you know they don't have anything they can recommend and so, like my neighbor's car was stolen, the police came around might have been rifled through. I had left it unlocked because i really like her neighborhood. I don't get home and get paranoid about how bad the neighborhood does get home and shoot hoops with some of the kids in the street.
So one of the things is it anchors you twist it'll anchor, you install it yourself, you connect it to power, and then you have a fob or use your phone, so it'll arm automatically, and then it senses your new walk up and disarms automatically uh it'll record Video, if someone does enter the car transmits it to the cloud, that's really cool uh! You can get the you can have professional monitoring like simply safe. They can view it on your bed. How much is the club 50 bucks? Ladies, it's like 60 bucks, yeah 60.. How much will this be you're, not sure? Yet what do you think 50 bucks? There are two. There are two groups, so we surveyed customers and there's customers who view like a 50 to 75 dollar price point and there's 200 plus because they view it as alarm system alarm system. And then we have safety capabilities. So we can. I assume you get more excited when people say 200 is yeah.
I know when i bring out a prototype, they're pros and cons, and i'm not showing you the movie of course. Of course, yeah to your point, i can project no, no, that's exactly right by the way. You're 100 right, if you showed me first at a production line, and you, if you just do anything that applifies it in the white box and shows the app and the screen. The justification of a dollar up.
199 versus 60 goes through the roof and by the way, even the fact that i'm sorry we were going to start at 299. That's understood, i understand, and then we want to have a lower end version down the road similar to nest model. Where you start, the high-end tesla model start with a higher end. There's you know, what's so uniquely fascinating about this from a consumer lens and you'll probably want to spend a little time on this is: where does it become price prohibitive, also matches the higher propensity for theft and breakthrough? So you're gon na have to find that mendoza line, because the people that don't have price friction at 299 are also less targeted, less feeling the pain and so finding that right area is going to be.
That's in your in this business hypothesis. That's going to be really fascinating, yeah yeah! I think it's going to be really interesting. My street, i mean my my street in atlanta. I think some neighborhoods are targeted more than others, because on my street three range rovers have been stolen.
One guy was at the mall, and so of course i mean every city and state in the country has, though, there's always towns that begin to have a different income level connected to the town. That does i mean it's just the most cliche story of them all. So we think that price - i did a survey. I ran google ads and found that they're i interviewed 130 people and displayed it was really interesting.
Can i can i give you a much better way to do that? Yes, because i love the way. You just said that, because it's very smart before you do indiegogo or the thing i'm about to throw at you, i would actually run a website that looks like it's actually functional design. The whole thing: a b, c d test, the pricing yeah when they're done in the checkout have a video of youtube. Saying. Thank you for doing this. This is actually pre-launch because we're trying to find the price yeah, because you completed the whole order, yeah you're gon na be one of our first 500 people. That's gon na get a free one from us. Uh see you soon, yeah, okay, because then you'll get real clean data, and i actually do think specifically for this product.
Given that it's hardware you got to produce it, you got to put it right. It's different than some of the stuff you've been involved in. I think it's worth going through that process, because then you'll flat out see this will be not a survey where humans subconsciously know that you're analyzing their data. This will be.
I actually think i'm buying this. I bought it for 149. I bought it for 299. I bought it for you'll get some very clean data, something we're thinking about, plus the marketing of like the authenticity like getting a video from you guys at the checkout part, when it's done like thanks.
This is actually not ready. Yet this is not even the real name of the product, yet this is not even the real price of the product. Yet you, though, are gon na get this because you just went all the way through and bought it. So we're thankful you're the one of the first 500 people to ever do that in the world, and if you do this now and in spring of 2022, we're gon na hand deliver you one to the address you put in here as a thank you for going All the way, through there's a lot that can happen there.
Yes, you'll get the data you'll build a very small community of very loyal people that feel part of your community. You might even get like some marketing and new coverage for your product because of how unique that idea is yeah. Where am i on timing? Okay, so let me sneak one quick thing on you and then we'll get back to it. If i can, i think the new, indiegogo and gofundme is nft projects.
I wonder if you can get together with a artist and produce a thousand tokens, 5 000 tokens of really cool car art where people buy it, and that gives them. Maybe even a piece of the business you got to look at the sec and like where all that is right now with the jobs act and all that. But i'm completely convinced that the future of fundraising is going to come in nft form, not in indiegogo and gofundme, because people have a double asset play there. I actually think it's how every artist is going to do album releases in the future instead of going to a record label they're going to have the fans be a part of it, so something to put on your radar awesome yeah, because if you get an artist People have the collectible and some sort of incentive and the nft represents getting one of those.
So you buy that you get that so you're. You know now: listen you're selling the nft for 700 bucks because it's a collectible and and it's a cool piece of art, car you're, getting the 300 item, you're, probably getting more money that way and - and you can also, then you also have them part of your Ecosystem, so we can explain that later, i want to follow joe's lead, love your shirt by the way. Thank you. So we talked a few months ago, yes about how to locate cpas and financial planners to work with me on my b2b mortgage. Yes and you talked about setting up facebook, facebook groups, sacramento business alliance, not yep yeah, and so i'm i'm still working on the logistics there. I've been super busy on some other stuff, no worries, but please do that so like follow up with joe or whoever like it's, i'm really passionate about it and at the time when we did that, i that bit was hot on my mind and i'm starting to Get the feedback loop from people that i set it to individually, or i mentioned a couple times publicly and some podcasts: it's really working for people cool and just to get catch. Everybody up. The concept is, if you're trying to do local business, the facebook groups are doing so well, especially in that 40 to 75 year old demo, that if you create something a little more evergreen, literally back to your like back to the prior one, the atlanta small business, Facebook group, it buckhead small business group or, like you know like like, like denver mom's club and if you're the host you're the host, and if you can build up that group, you can do localized marketing inside of it cool um.
I also want to start looking at ways to probably run some targeted ads on linkedin, okay, going after specific companies that are the right size for what i want yeah, because what i really need is. I need a practice where it's one guy in charge and he may have some junior partners or maybe at the most maybe three partners, because when we get much bigger than that, it's hard to get the buy-in from everybody makes a ton of sense. Based on what you're doing so for me to do that, do i actually target the companies, or do i go after just this size of institutions if it depends on what linkedin is gon na, you know, sometimes when it's too small, the targeting capabilities are not there. Okay, so you have to pay a little more for it to be a little more broad, but still get what you're.
Looking for? Okay do i run static ads or videos or both? Okay, the you know the number one thing with social media ads that everybody misunderstands is it's the creative, not the media? Okay, so try everything, because it's the only way you're gon na get your math right. Okay, the amount of people that just decide that facebook ads don't work because they ran three ads. It's even back to the way we started today. It's like really squeezing the out of content.
I mean we're living it right now for wine, techs quora is a thing. That's really working us yeah. I think i think all of you should look at cora too. Answering questions and running ads against the questions.
Very effective quora does extremely well with google search. It's not plain. Google search there's sometimes price arbitrage, where a search term is like 19 bucks on google ads. But core is the first organic answer and then you can buy the quora ad for four bucks. So you see where i'm going with the arbs um core could be really really good for a lot of people here, um but uh. Where was it going now? I remember on the uh when i got off the plane today, i was talking to john morgenstern, who used to be ahead of all the vayner media's planning of like what's the right strategy, i've now brought him in to just work with me directly. My brand wine tax be friends mainly because i think he'll be even smarter working on this because the clients - don't let us, do the best stuff. So he's almost working with me.
But it's going to make the org much smarter and it's already happened in a week because he's the best of all time and he's like me, he loves to get his hands dirty so like doing it again is fun for him. We're crushing cora, but then there's fatigue like he hit me up right now and he was like. I need more answers to different questions, because these three ads that are working are fatigued, so it's always going to be more content. So in the linkedin example, it's like even when something's working you got to do more and most people only run one or two or three different variations of creative and call it a day and decide if a platform works when you're supposed to do hundreds of variations, Which is why i want everybody to do.
For example, i would love for you to start a show to answer questions for those brokers, so that you can then chop up the show and run them as ads. Okay, so like it's even another move above that which is like how are you gon na, keep creating so much ads? Well, what if you actually had a q, a show which is really in essence, answering that's the whole point of why q a works askgaryvee was so brilliant, because it's no different than google ads google ads work because it's intent based marketing people are searching, something they Want to answer my q a show works because it's the temperament tea with garyvee. It works because that's the current temperament of what people want to know. One person usually represents 10.
000 people's question. That's a good point! So what i'm thinking about that? What i think i'm going to do, then, is go to the independent guys, i'm already working with who are doing the best at it and interview them, love that and then that's it that that's a very fun job. That's a very good start. But again, if you start, if you start again the sacramento, you know real estate brokerage like very long tail fake groups, you can extract new people, sacramento small business alliance.
That goes very broad, sacramento brokerage. You know mortgage broker or real estate agents is more narrow, but will be very specific. You could oh by the way, the world's about and not or you can start both those facebook groups, cool cool, appreciate it. John morgenstern's pump, let's get over here, billy richardson um. My family has been in las vegas since 1970. I love it so i love it. My family, my dad started out a small place, grew it so i've always been the hospital. It's always been a part of it.
I've always watched him and how he grew. Sure. Three blackjack tables to 12 slot machines to growing it to where it was so um. So i got into the nightclub business early in vegas.
There was only three at the time, and i was one of them - mine, 54 to rio, and watched all that and got out of that. One became big money and yeah. Of course, of course, so i got into the restaurant business in vegas. My thing is, i grew up in vegas, i'm very local in vegas, i believe in local businesses in vegas, and so when i go, and so i started with my first restaurant at red rock, it was a local place.
I went in there. I knew the guys and i just pretended - i knew how to make hamburgers and do a hamburger, restaurant and i did everything and hired guys and we didn't even have a restaurant. We got our first one, i'm in the recession head in vegas and so what year was that party? What year uh two thousand uh. So when i get eight nine, i worked that win and left after that lunacy.
But i learned a lot: 2008. Nine yeah yeah. I sat in the restaurant. We were doing really well and watched the spread screen of the if they were gon na pass.
The one um build that give him our money and the stock market went through the roof and they said no. I just said well lehman brothers business and i watched the whole casino empty out every day, but i got through it and then we grew our business and we're a business. The thing i find hardest is going and dealing with now with these guys are for their wall street guys and all they understand is guy fieri, thomas keller, shake shack and i'm uh and i believe in las vegas. I love las vegas.
I grew up. I have my kids in las vegas, they're, fourth generation. Third, but no one, but these buildings don't care about local guys anyway, they don't want local guys in there. They want guys that can pay big, rent and stuff, and - and i know it's - i know it's super well yeah.
I know it's super well and i sit there and i go. You know what i know i'm the best in this business in vegas. I know the market better than anyone i get out and i save, but then i feel like well, then i'm being cocky or i'm doing this and it's not that you're being cocky, it just doesn't mean anything to the people that have the real estate locations that You're referring to right and nothing you say or do will change that right, but that's not a bad thing. No, that's only a bad thing.
If that's the fixation of what needs to happen, and i'm trying to learn about like social media and stuff, like that, i i i've hired pr firms. I've done all that, and you know they tell me how great it is. You're not gon na have to do this and this and this - and i have one kid that works for me and i've been doing this for i have. If i have one hamburger pitcher, i have nine million. I've got one milkshake pitcher from every season. Halloween doesn't change, christmas doesn't change, but i being here you know, i'm learning all this stuff. Now i have a good tool of how to use social media, and i have two people that live in my house: a 15 year old girl and a 10 year old girl and i bounce stuff off them all the time and i get this they're on their Phones and i go what brands do you guys, like? I don't know dad, do you like holsteins, that's my camera yeah, but shay check's, better, dad, okay, yeah! Listen! I get i get it too. I get it too.
What i try to learn is that someone taught me that if i have a 15 or 15 year olds, now in five years or six years, they're going to be 21 they're gon na be coming to vegas. How do i get them to become my customer? What what is your business, so you have? Did you say you had four locations or locations, so one one is um. I do hamburgers and milkshakes primarily and then one is all pizzas and and then all hot dogs we do lobster rolls and hamburgers okay. So i specialize in i see it yeah and where what uh? Where are you i'm in the resort world, i'm in the lane so you're in the places? Oh yeah, i'm in giant traffic areas like holsteins? That's massive? Yes, i'm trying to get locals to come down because vegas has done.
These guys have done a really good job saying we don't want locals to come down we're gon na charge parking paper parking yeah, i mean as some you know. I i have a real sense of this market. I almost bought the uh minor league baseball team uh with tony shea, who unfortunately passed. I was very involved in downtown in the early days.
I was really friendly with tony at the time and spent a lot of time analyzing the market, because i was going to bet the farm and buying a minor league baseball team um here are my here are my kind of couple concerns or thoughts one. I hate friction. Uh like fighting reality, is always a losing formula in business. You know this way better than i do back to generation three.
I learned this after four months of very good homework. Getting locals to come to your place is not mathematically right for them. The are they gon na do that, for one strategy you could have is actually opening a fifth location in a local place, building equity that way, and then when they do happen, to go to the places there's that residual brand affinity. That is like a macro strategy to think about the other.
The other thing to think about is how do you create differentiation inside those places forget about the famous chefs and things of that nature? The reality is is that very concise marketing within the feeds of social can always work, no matter what the circumstances are so running, very aggressive ads to the vegas you know, area code over and over and over is going to have residual effects. It's going to come down to the creative um, but but i think let's break these down, because i assume the four locations you have and i've got a sense of what you've got going on. That game is very real estate, driven like whatever location you have. You have those patterns in those, casinos are consistent and you've got a pretty good sense of what that is rightfully so, as an entrepreneur you're like okay, so this is what it is and my growth can come if i can get locals to come down or just More people are even just generating more in the united states and worldwide because of the people that are coming yeah, but it's not going to work that way. I don't think unless you do ridiculous right, like the virality and consistency that you'll need for like me to see it on my tic toc and then remember in nine months, like there's so much branding. That has to go into that to me this starts, so i would tell you what i would do. I think that if i'm your partner, i would say uh we need to start at the product level. So let me give you an example, something i've always loved about this kind of food.
I think you should create a 200 hot dog. Well, i have, i have a billionaire burger, it's a billion dollars, uh, no, okay! What is it it's? A hundred and i have other people and then they tell me well no one's going to do it and i i have thought of saying well, this burger's a billion dollars and someone will buy it. Yeah i see like when the the million dollar. I think what you need to do is create multiple food items per place that are so outlandish and are content driven.
So here's what you could here's, what i would do. I would create a 99 slice of pizza for the pizza place. I would think about what the that means is that caviar is that some sort of like weird ostrich egg, or am i pouring in, am i cook? Am i pouring dom p over it after it comes out of the oven? I don't know what it does, but you have got ta. It can't just be 99 bucks.
You actually kind of have to try to get it there. That's number one number two. I would have somebody full-time hired for your four locations in the in the main, casinos that goes into tick-tock and instagram uses the hashtag las vegas search sorts it by recent sees who's just posted, because it's proving that they're in vegas and dming them to come to The place to get a free piece of the outlandish product, if you, if you, create the bait and then bring them in and you're, giving me. And if you hit up drock, because he somehow has a lot of followers um and we're in vegas a lot for a speech and you dm him and say: hey drock, we love your work.
We'd love you to come in and get a free 100 slice of pizza. There's two things that happen there. One he'll probably do it, because i know him: two: the hundred dollars will catch him off guard, even if he wasn't gon na do it. That might make him do it like you're like what is. What is that? Even i do believe that would work. I really do. I think you you you know, and i'm just i'm trying to. Let me break it down one more time, because i really want to make sure you get it, because i'm going to move on one to two ridiculous items, you're already in aligned with me, because you have 100 burger, so you're already there one to two items that Are really outlandish rethink them because the 100 burger potentially should be refurbished because you thought about it, maybe with a different context point you need to make it so visually interesting that when the influencer comes for the free thing, they're going to want to make you're not Going to ask that the second you say, drock comment: if you post on your instagram, we'll give you 100 burger you're already dead.
If you just say hey, we see that you're here we love your stuff, come in, ask for carl the manager and we'll give you the 100 milkshake. When that person gets 100 milkshake. You know you, you clearly want them to do the thing we want them to do. You have to make it so visually ridiculous that they themselves want to do it, because it's good content.
You need to hire a full-time person to constantly stay on tick-tock and instagram to see who's, hashtagged, vegas and dming them. You need a full-time person right got it. Yes, awesome. Thank you.
I appreciate it yeah thanks to monique. Oh that's interesting. So one of my biggest uh challenges right now is we had a uh. You know in the sports and athletic space where you have athletes who have gone to shows and they they travel and drink pandemic.
That was all shut down and they said you know we can really have our price point a lot higher for direct to consumer yeah. But we're competing against the fanatics against. Yes, we talked about that right. So what? What is your uh thought in terms of the feasibility of something like that uh for us to create our own, like legend circle agency, for direct-to-consumer merchandise for other for other people? Besides jim uh-huh, i think it's real yeah.
You know, i think, there's a lot of fragmentation available in talent. That's why you know that's. Why there's so many managers, it's? Why there's so many agencies um. I think the feasibility is very real.
I think the question you have to ask, and we obviously have a little bit of a preview of this, because you and i spoke recently about this - it's going to come down to how good you are at it. The problem with, like you know, do i think, that jim and you and and somebody you hire or somebody on the team, reaches out to 12 hall of famers and say: are you really happy with the way you have it we're starting this thing, would you come You know you know this better than i do, i'm just around it a lot legends trust other legends more than they trust somebody else trying to get in their pocket. So do i think you can get six people roger starbuck, this or all cable. Of course i do, i think you can. The problem is that you also know this part a year later, if they're selling less helmets with you, even if they're you know, if the money's not the same or better, then they're gon na start saying wait. Maybe i should go back to upper deck, maybe i should go to so. I think the question there. The feasibility is incredibly real, very real and forever real.
The question is: how much belief do you have that you can build the organization that can create that demand? I'm not scared, you know about. You know as much as i love michael rubin fanatics and i do they're real homies. Do i think, there's fragmentation. Of course i do because it's happening.
It's there's a lot of fragmentation. I think the question becomes. Can you create the demand creation outside of you know john elway, putting a link in his instagram saying this is where my memorabilia is you're. Gon na need you're gon na need more than that.
Much more than that. So are you an organization? You become a retailer right. How good of a retailer are you and that's right? I think the ideology always gets people going right. They're, like yeah we're gon na get 50 of the action instead of 20, but 50 of 17 signed balls is a lot less money than 20 of 20 000 balls, and i think i think that's the thing you're gon na have to figure out that's right and That's really where we are in terms of the feasibility of it i mean.
The other thing is: look for you, specifically your guys situation, you're at such the tippy top of it that you could leave for a year and if you decided oops, we need to go back. Every major player is going to be very thrilled to have that convo with you. So you got to keep that in mind too yeah yeah. We wouldn't do it ourselves, yeah.
We definitely have a team. We build the team around it to that. That's the decision you're making. Do you believe that this team, with better economics, can close the gap on a team? That's out there that's been doing it at the scale that whoever you're with i don't have that fully figured that's missing like what is it that they're not doing correct, that's right and what can you add to it: access virtual access content, all that stuff, but but Let me say this when you, because i've seen a lot, don't get over romanced with the better percentages right.
A lot of people lose on that game because in your specific thing, unlike other you know, there's it's one thing. When you're i'll tell you my story as a public speaker when i looked at the data after two years with caa yeah and at first it was great because i god rest his soul. When tony shea would say no - and i was at caa - they'd - be like how about this guy gary vaynerchuk, he talks about similar stuff, so that was great for me, but as my brand got to a different place, the last two years i was caa 85 of My speaking engagements came through my website, then you're like well, i'm creating the demand um. So i think the demand creation is always going to have the leverage yeah. That's right, not how good is the deal. That's right got it. That's the key absolutely and it's hard to compete for traffic. It's almost like.
We have to cross-promote amongst, like the various projects that we have, but the scale yeah, but the scale in which and and what are we talking exclusive and then you think about friction for the consumer right. You know like if i'm looking for you know, i'm gon na go to google or i'm gon na go directly to fanatics. Maybe upper deck and type in his name, ebay, right, that'd, be the other place. I'd go.
You got to think those things through yeah. I definitely can begin to feel that, obviously fanatics has a footprint, that's way larger in this space, but there's so many other areas that they're not as big in i agree. You know certain types of apparel or even lacrosse as a growing sport, so kind of and jim's i mean you know what i feel about his opportunity with lacrosse and telling that story. Yeah, okay, you might be able to carve some stuff out too exactly he's.
So, like revered, absolutely that i could see, i think some. I think some companies might even be willing to compromise and say, if you said hey, we want to do all our own lacrosse stuff. Can we have that exclusively? I think you might find some yeses because they might think it's too small and they have too much respect for him and then you can test. Maybe you start there.
I mean he is the greatest lacrosse player of all time. Thank you. Awesome yeah gary yeah, so i am working on my next startup and uh. I am thinking about kind of how do i help the masses right? I've always built niche sites and investing you know, dividends, mutual funds.
So just talking to my daughter one day, she's 25 she's, like hey, you know that if it wasn't for you me and my friends would never invest like you know, you keep me up to date and whatnot. So i'm like wow, that's like a big audience. Mid-20S not investing, i mean i mean, and now right the whole robin hood phenomenon. I mean you have more 20 year olds, it's now.
It's like cool culture to be a traitor, yeah yeah and i think that's the thing you know everyone's into that. But the problem, then, is people get intimidated right so, like my daughters aren't thinking about like? Oh, you don't want to trade crypto, i'm going to trade this right. So my thing is: i came up with this idea: the investing superstore, so you think about a superstore. You think about walmart target yeah everything, superstore superstore. Sorry, i heard superstars the investment's super slow. Keep going so the idea is to have any asset that you can buy in one location, okay, so partnering up with a different sort of platform. So if you want to buy fractional shares of a rookie card, you want to buy stocks, you want to buy crypto. Whatever the asset is partner, work with these companies and everything is done in one place, so the idea is, are you gon na? Do that? Are you gon na? Are you gon na do that through apis?.
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