Last week Gary Vaynerchuk made a visit to Utah at the Entrepreneur Simplified event. At Fundwise, we’ve been following Gary for about a year and during that time our business has grown by 10 times, we’ve gone from two employees to 20 and our revenues have grown by 10 times. Without a doubt it is not a coincidence that our business has grown so much during the time we have followed Gary.
Gary has a great story, out of college he began managing his father’s retail wine business and built it up from $3 million in annual sales all the way up to $60 Million in annual sales. He did it through what was seen at the time as largely unconventional methods including email marketing, Google Adwords marketing and the best decision he made was to create a show called “Wine Library.”
After nearly two years of consistent “Wine Library” episodes, he finally broke through and got his company incredible notoriety as he was actually invited to Ellen’s show as well as Conan on late night TV. The bottom line is that he would never have built this business up to levels of extreme growth without dominating online content with his wine show.
In 2009 he relinquished his role at Wine Library and then began to build up Vaynerchuk Media, a digital/social media marketing platform that he foresaw as being a huge asset to help to build up social media presence for large fortune 500 companies like Chase, Pepsi and others.
Fast-forward eight years later and Vayner Media has over 600 employees, multiple offices and is projected to rake in over $130 Million in annual sales. Gary says he day trades people’s attention, for example as tv viewership continues to plummet, mobile and social media use continues to increase significantly.
Gary teaches others how to dominate with social media and in general be an accountable entrepreneur. Some of the key concepts that I have learned from Gary are:
- Live life like you only get one chance at it, imagine being 90 years old and having massive regrets because you did not run that business or spend time with your kids. Utilize every second!
- Bet on your strengths, if you don’t do data entry well, hire someone to do Quickbooks, do the $100/hour stuff that you dominate at and delegate out the rest and build a business not a job.
- Be self-aware, what are your really good at, are you really working hard or are you messing around? Make sure that you take advantage of your opportunities, work from 9 pm to 2 am, bust your butt during the weekend, make it happen!
- Do what you love, never waste your time in a job or a business that you don’t like or really have a passion for. Do what you do, always do you and define your laws of success based on what truly matters to you.
- Stop worrying about what someone else thinks, regardless if they are family or so-called friends, do you and forget worrying about what others think!
- The market decides winners and losers, regardless of your obstacles which may include: your race, religion, appearance, political stances and so forth, at the end of the day no one really cares, the market certainly doesn’t give a damn and will reward you if your product or service is valuable.
- Always provide value, a lot of it before you ask for business! This is probably his biggest value that he teaches, in his book, Jab, Jab, Jab, Hook, he shows that the jabs are value and the hook is the ask for business.
It was a lot of fun to meet him in person, his whit and ability to show personal empathy to each entrepreneur he met with was unparalleled, in truth I’ve never met someone who can be so blunt in telling you the truth about your business ideas while at the same time still caring so passionately about each person’s success. If you want success in business and life, then follow Gary Vaynerchuk on Youtube, Facebook, Twitter or Instagram.