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Gary Vaynerchuk is a serial entrepreneur and the CEO and founder of VaynerMedia, a full-service digital agency servicing Fortune 500 clients across the company’s 5 locations. Gary is also a prolific public speaker, venture capitalist, 4-time New York Times Bestselling Author, and has been named to both Crain’s and Fortune’s 40 Under 40 lists.
Gary is the host of the #AskGaryVee Show, a business and marketing focused Q&A video show and podcast, as well as DailyVee, a docu-series highlighting what it’s like to be a CEO, investor, speaker, and public figure in today’s digital age.
Make sure to stay tuned for Gary’s latest project Planet of the Apps, Apple’s very first video series, where Gary will be a judge alongside Will.I.Am, Jessica Alba, and Gwyneth Paltrow.
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😭😭😭😂😂😂LMAO @ the fool who switched to the black person AND STAYED when Gary said "Drake"…UK is weird about race…like wtf?! 😂😂😂😭😭😭
I'm amazed at the amount of value I am getting from Gary Vaynerchuk's interviews and fireside chats for free. This is easily information he could charge for. Thank you for the fantastic video. Here's what I have learned so far.
One-To-One Engagement, and Not Sole Distribution of Content: Too many people are too focused solely on the distribution of their content, and not on the one-to-one engagement and interaction with the prospective and obtained customers in the social media platforms.
"Anything in the world that has people's attention is a marketing tool." – Gary Vaynerchuk.: If people were to revert back to using pigeon carriers, then Gary Vaynerchuk would be doing that, but if people decided virtual reality was the best way to market, then he would be their too.
Virtual Reality is the in the Same Stage as 1992 Internet.: Virtual reality will arbitrage Internet E-Commerce and businesses, because the attention is going to shift from the Internet to the Virtual Reality.
Don't Enter an Emerging Platform too Early: You wouldn't build a mansion on the most beautiful coastline in the world when there's no airports, roads, and infrastructure around, so why advertise on an emerging platform 36+ months away from the platform when there's no infrastructure in the platform.
Creating Content is the Cost of Entry: Video is king of content because video is more popular than picture and written. For example, actors and actresses are more famous than photographers.
Authentic over Mainstream Perfectionist Content: Producing authentic content, which requires little if any editing, lighting, etc., instead of the perfect piece of unoriginal and scripted content is massively better for building one-to-one engagements, relationships and reliability.
Depth in Niches are Profitable, Too: If you provide quality advice, education, and entertainment.
What gets you somewhere will never get you anywhere further.: The efforts you exerted to get your company to the next tier will require you to do more and change yourself to a certain degree, If you want to get to the next tier.
"Marketing is a function to create an action that a company wants to happen by tomorrow.": A marketer must be able to acquire, from the company, what the company wants to achieve by tomorrow, but knows that it will be achieved over months to years.
One Failed Test Doesn't Mean It'll Always Fail: For example, if you do not get the conversion, click-through, share of wallet (SOW), return on investment (ROI), and profit and loss (PNL) it does not mean your marketing strategies and content will never work. It just isn't working currently.
Fake Expert Marketers: Books are rarely worth being purchased for the content inside of them, because if the content inside of them were worth being purchased, why can the author(s) not sell their books at top levels. Why are the "experts" not utilizing their own information that they wrote about in their book to sell their book? The answer is because their information is not worth the paper they're printed on.
Passion Over Hard Work: Gary could've worked hard to become the number one men's soccer player – for the rest of his life, but Gary did not have a passion for playing soccer. Once the work gets minutely hard, you're going to start questioning it, becoming dissatisfied with it, and eventually hate it and quit forever. You must first have a passion, so that you can push through the hard work; even enjoy the hard work.
Start-Up's Profitability Time-frame: Any successful start-up must become profitable within 6-12 months from inception date. Otherwise, either the founders are bad, the product/service, a strategy, or the consumers simply don't care for your business. That is a prime indicator that the start-up must dissolve to minimize damage to yourself and the economy.
Down-Rounds for Start-Ups: Companies run by fake entrepreneurs and fake business-peoples often raise hundreds of millions to billions of dollars from venture capitalist funding. Subsequently, the company does not turn a profit, and seeks more funding, and so on and so on through the series A and beyond. Eventually, the investors and venture capitalists do not believe that the valuation of the company is actually rational, in which the company decreases their valuation through seeking less financing.
Eventually, each subsequent round of financing is less and less. The reason the company takes the massive loss of valuation between each subsequent round of financing is because their only option is to devalue or go out of business.
Fake Entrepreneurs: Any person that gets an idea, and gets some money for their idea calls themselves an entrepreneur, because that's the cool thing to do – currently. However, no one is relating entrepreneurship to athletics, the arts, and any profession. If you said you were a football player, people would ask you if you're a paid professional. However, in entrepreneurship, no one is asking if you're turning a profit in your business, and if you are a professional entrepreneur. To become a professional entrepreneur, you must be publicly established as an entrepreneur through your historical results.
Brick-and-Mortar's Should Use Apps That Provide incentives Based on Saving Time: Anchor stores are dispersed throughout the malls opposite ends, in which the consumer must walk past smaller stores. The smaller stores often have sales, which chips away at what the consumer is willing to spend at the anchor stores. Anchor stores will realize this, and make stand-alone stores, so that way the consumer is not chipped away at. Also, the customers in the mall are not the malls consumers, they are the brand-name stores consumers. Malls should make apps that provide better parking and parking services, discounts, and so on to make the malls consumers actually the malls consumers.
Partnerships Are Powder Kegs: When two companies alliance together, that gives a substantial cushion to the more entrepreneurial company to collect consumer data over a period of time. Once enough consumer data is collected, the entrepreneurial company can in turn leave the alliance and viciously attack the other company. Once the other company is dead, the entrepreneurial company takes the super-majority of the market share in the prevailing market, and can then grow larger and stronger to other markets.
Do Not Get Mad At New Markets That Decrease the Cost of Production: Anytime a new market place is created that decreases the cost of production, that's a good thing for everyone. While new sellers will swarm the market, those new sellers will have minute effect on your business. The reasoning is that if you are the best at your craft, and utilize the new marketplaces features, your customers will stay loyal to your business. The customer respects your content marketing, the quality of the product/service, and feels brand loyalty. Eventually, those cheaper new sellers will be suffocated by failure, while you thrive in success, simply because you were the best at your craft through the whole time.
We Laugh At Big Companies Being Arbitraged, But When It Hits Home…: When large non-innovative, legacy thinking, and brick-and-mortar anchored companies become arbitraged by innovative, current and emerging-focused, and e-commerce anchored companies the community laughs at the older company and hails the prowess of the new companies. However, when new companies are arbitraged out by even newer companies, and you’re the entrepreneurial founder and/or business owner, then you fight up and down and scream about it. Guess what, you became the old company, and there's nothing you can say to justify it, because history repeats.
The Market Isn't Prejudice: You buy products because you recognize the quality, usefulness, efficiency, and effectiveness of the product; you do not know the product's backstory from the founder. The founder could've had a horrible life, or could be what you hate the most, but you will never know because the product/service and the company provides no labels and information on anything. All you know is you like bought the product because you want it. The market is not prejudice, you're prejudice to yourself for not going into the market.
Your wife didn't listen to your stand on "no samsung in this family" haha. C'mon! She didn't get any banner pop up ads 😀
Its the only episode I'll ever watch of those guys.
Love your work, Gary! Thanks for the awesome content! My Youtube channel is getting more retention because of some of the advice I found in your channel! Big thank you and will continue to work !
Great stuff. Thanks for all the insights
🚀 What gets you somewhere is NEVER what gets you to the next stop…A lot of people take a breather when they get to the next level and say "whew"…Made it….Exactly the WRONG time to do so…
So many good points here..
Syphon the audience to the next version or new you, fkn genius advice,,times are changing so quick you always have to be thinking of the next platform or next best easier more accessible way for consumers.
When Gary talks about Fiverr, it's very similar when people say people from a foreign country are taking our jobs.
I'd love to get in touch with the "polish DROCK" – anyone any idea/suggestion of how best to do this? Thank you!!