Gary Vaynerchuk : An Inside Look At His Business Success

Gary Vaynerchuk : An Inside Look At His Business Success


– My mom always said it’s rude to talk about people behind their back. So welcome to this video where you and I talk about Gary Vaynerchuk
behind his back. Come on in, grab a seat and a beverage. Let’s have some fun. (gentle chiming music) In 2008 I was 22 years old, and I was sitting at my
girlfriend at the time’s apartment and I watched this video
of this guy in the internet say that he wanted to
own the New York Jets. My dream as a kid, ever
since I was a little kid, was I wanted to own a baseball team. Specifically the Cleveland Indians. And I thought to myself, this
is somebody I need to watch, because if in 10 years he’s
closer to owning a team than I am, then he’s got
something figured out that I don’t have figured out. This to me is modeling success. Watching people who’ve done
amazing things and said, “What are they doing differently than me?” How are they thinking differently than me? And so in this video I’m gonna
tell you what I’ve learned from Gary Vaynerchuk after
spending a little bit of time with him one-on-one
and in a group setting. And also analyzing his
business thought process. And I’m gonna do the
whole thing while drinking some Empathy wines, one
of Gary’s companies. So let’s dive in. In 2015 we had our first
event at capitalism.com, and the first person that I
called to key note the event was Gary Vaynerchuk. And Gary was big, he was
a well-known entrepreneur, but he wasn’t big like he is today. But the thing that compelled me to him, was I wanted to find
out, what’s your strategy that you’re confident
is gonna have you own the New York Jets. And it was the first time
that I ever heard him describe the strategy, which was,
I’m gonna build an engine. I’m gonna buy companies,
put them to the engine, and I’m gonna sell them,
make a bunch of money, and buy the New York Jets. That was interesting. But something else was
more interesting than that. – You didn’t have anything,
you found an idea, you found somebody that
gave you a concept. You got something that worked,
and now you got something. Something that you were sold
by the American Media Machine that you want, like a
fucking watch, or a car. You got something, and the fear is, you don’t wanna go back to not having it. My greatest rationale for marrying my wife and the greatest thing
that I know about myself is not only am I capable to going back to Queens studio apartment,
I secretly want it to happen. Like you know, “Rocky V”
when it’s all sad and shit, ’cause he’s like back to the thing. And there was like, “Ah, too bad.” I’m like, “That’s fucking awesome.” Like for me it’s the game, right? And so like, I don’t need fancy shit. Like fuck, that stuff kills me. Yes, I wanna buy the Jets. But I won’t buy a jet
on the way there, right? I may, because it’s
actually time-efficient I’ve come to learn, but
it’s really interesting. I think the thing that makes me sad is people accumulate a little something and they don’t want to go backwards. And so they’re not willing
to change their behavior to go three steps forward. People are literally, literally crippled and scared to take one step
back, a place they’ve been, and they should understand,
that’s what scares them, though. Instead of going three steps forward, and they get into that hump. And that million they’re making
is now they’re handcuffs, and they’re stuck. And the reason I push hard work is, there’s a lot of people in here who are in that exact situation, and still have seven hours a
day to start something new, but aren’t putting in
the hustle to do that. – You see, at the same event I had Grant Cardone speak, and Grant made the entire experience about him. – So you know, you gotta be liquid, baby. You gotta be liquid, you gotta be ready, you gotta have more. – It was all about Grant. He had people chanting his name. – What’s my name? – [Audience] Grant Cardone! – [Grant] What’s my name? – It was the Grant show from day one. – Yeah!
Yeah! – Oh, dear. I immediately regret this decision. Gary, the person who I
thought was all about hustle, and grind, and killing
it, and bravado, and ego, humbly walked backstage. Quietly without drawing
any attention to himself. You said something, I
will never forget this, ’cause it changed my brain. When I asked you, I think
you were talking about 137. – [Gary] Okay. – You were talking about
the business that you build and acquire, and you scale the teams. I was like, Gary, like how do you manage all of the scale for that? And you’re like, well,
we don’t make much money. And then I said, how are you
comfortable just continually rolling all the profits back in? And you said this, “My only
fixed expense is rent.” And I was like, “Holy shit.” You have no fear in losing it all, because you can if it all goes away, your only fixed expense
is rent, and you’re fine. – That’s right. – There’s no ego in that. There’s like no ego in that. I have to understand how
like, that mentality. – Because I’m humility
disguised in perceived ego. My personality, my vibes,
my energy on camera makes people think I’m ego. My actions over the last 20 years, and the people that know me the best, know I predicate on humility. I have audacity, and
confidence, and fucking, I’m an alpha. But I’m built on the ground of humility. – So many times as entrepreneurs, we think that we have to
force ourselves into things. We have to dive into the
extra energy reserve, and force ourselves to do things in order to get the result. But the people who are
extraordinary performers are operating at a different gear, because they’re just
amplifying what is completely natural to them, they’re
doing what is unique to them. And what I learned after
spending some time with Gary, was that is really where
success comes from. I have spent so many years in my career trying to force things,
trying to make things happen, trying to hustle. But when Gary talks about
hustle, what he really means is doubling down on what makes you happy. I really believe that’s what he means, because I’ve observed that. The last time I was at Gary’s office, we were drinking some Empathy wines, and he sat down and looked up at me like we’d been there all day. And here I was, like
ready to go, all amped up. I had drank a bunch of coffee to get ready for this interview. And he just looked at
me like, “I’m ready.” He is constantly present,
which is why he’s able to work 17, 18 hours a day when he needs to. If you are present in what you are doing, your energy is infinite. If you are not present
in what you are doing, you’re operating from a drained battery. Most of the time we get
burned out and we get tired, because we’re doing things
that we don’t see as meaningful or inherently fun, and it’s
usually not how we succeed. If we don’t find it meaningful,
or if we don’t find it fun, we’re probably not going to
give it everything we have, which is what success requires. That is the biggest lesson
that I’ve learned from Gary, from spending time with him in person. The second thing that
I’ve learned from Gary from spending time with him, is that the way that you
get wildly successful is always operating in
service to other people. Here’s a clip of Gary sitting with me and telling me how his
strategy was not to monetize his audience, was not
to go for the big get, was not to cash in the chips, was not to give with the
expectation of getting. But here’s where he describes
that his real strategy is just to contribute as much as possible. Let’s watch. – I put out good content for the sake of putting out good content. I built VaynerMedia in
2011 to take advantage of K-Swiss or this. I never and still don’t anticipate having six million people, 5.5 million people on Instagram convert. Which is actually why I think it works. I’m comfortable asking my audience to, like my whole picture’s very simple. If you wear sneakers, if you drink wine, I’d love for you consider buying mine versus buying someone else’s. But it’s amazing. The reason I’m so happy
is the value I’ve brought versus the return on my investment. And what I’ve gotten is a terrible deal. Like the people that are
hucksters that I make fun of who are just converting
their audience from day one, they’re killing me in the short term. But I’m not playing for money. I want my audience to
show up at my funeral. I mean that. I don’t need their fucking money for my wine and my sneakers. I have a marketing capability. I’m gonna sell way more
Empathy wine to people that have never heard of
me than to the audience that has extracted
enormous value out of me. How much value I’ve given away, especially the last two years, and how big my audience has become. It’s a joke, I should be sold
out of all 30 thousand cases. I’m not, ’cause it’s not how humans act. Humans do not feel a
sense of responsibility to deliver back to somebody. This is why I keep telling everybody. You wanna be happy? Give without expectation. You wanna be super unhappy? Think you’re getting
something for your actions. You wanna get really unhappy? Do shit for the sake of
something else happening, which is what everybody does. I watch people gain me every day. The problem is they don’t understand that I understand what they’re doing. – I’m having what we call a brain-gasm here at capitalism.com. You see, what I though
Gary’s strategy was, was to build a big giant
audience so that he could launch the Empathy wines. And he admitted that there
was benefit in having a big audience when he
wanted to do a big launch. For example, I bought 100
cases of Empathy wines when it launched, I’m
talking about it right now, I’m drinking it right now. So of course, him producing
value in the world, produces business results
that are unrelated to the content that is created. But the reality is that
what his strategy was is just to continue creating things that he loves and enjoys. And to build the machine that
can scale these businesses. My strategy. My strategy for one day
buying Cleveland Indians, is very similar. It is to build the
relationships, the assets, the connections and the skillset. So that when you’ve got the thing that you wanna bring to the world, you have the capital, the relationships, the connections to be able
to bring that thing to life. I call it lighting a fire. My logo at capitalism.conm is
a C with a flame at the end. And it’s made that way
because I believe my purpose as a business owner is to light fires, is to start new things,
is to light the next idea and watch it catch. That’s what we do as
entrepreneurs and as capitalists. It’s our job to bring together resources, to bring together capital, to
bring together connections. So we can light the next great idea. So that we can create
the next thing of value, so that we can solve the next problem. So often we confuse entrepreneurship with the process of getting money. But our real job is to multiply resources. We do that by bringing people together, bringing ideas together,
and solving problems. And the byproduct of that is money. You said, you believe me 92%.
– Yes. – And you are saying
it from the context of. – It was more than the time
I saw you at the Core Club. That I remember, too.
– Yeah. – I don’t know if I said it out loud, but I remember that as well. – And you said that, and
it meant the world to me. And then you said, but
right now you still don’t believe me, 92% about,
there’s no ask, there’s no. – Yeah, yeah, yeah. – It purely is just a give
play ’cause it feels good and I believe you 100% now. So, it has been a lot of personal work to get to that point. – The fact that you’re
getting to this point now is so scary good.
– Thank you. – Honestly dude, it makes me so happy. – I just want you to know I get it now. I don’t know that I would
have gotten there as quickly without your example. And so one of the things like, the reason why I put a lot
of energy into seeing you once a year or so, is because you’re kind of
like a mirror of where I’m at, because I think you’re
really clear internally about who you are. And it acts like a mirror
to me of where I am. And so I just wanted
to thank you for that. – It makes me happy, bro. I really get it. And honestly, it feels so. It’s not the alcohol, it
feels warm in my body. And it’s actually, to think about the kid that I met at the event to this moment, is the actual dead example of the process that I’m trying to do at scale. I think something happened
where I get the great blessing to be the communicator that
takes a lot of alpha winners and eliminates the bad
behavior, and instills more. I don’t know what to say. It’s super heady, it’s
super in the clouds. It can even be consumed as obnoxious, it’s just actually I still believe it. I believe that it took a very unique voice to take guys that look like you and me and actually get them to think Empathy, and long game, and kindness
was actually the cool thing, not all the other stuff. – Serve first, give first. Make deposits first. Put deposits in other
people’s bank accounts. In your relationship bank accounts. And let there be interest
before you cash that check. That’s, “Jab, Jab, Jab, Right Hook.” That is really the philosophy
of creating content. So many of you are creating content to draw attention to yourselves. – The young people that are
trying to put out content for people are trying to trick people into their own money. And everybody who actually
is a great entrepreneur is selfish, they keep putting out shit. – I promise you that I will
at least try match that. – I believe you 100%.
I believe you 100%. – Thank you. – Because I believe
that’s actually my legacy, that I’m gonna frame it,
and the understudies– – I believe that about you.
– I believe that. – ‘Cause I think you turned that page. You’re the first person to turn that page. – I think so too. – And like my context–
– Really committed to it. – My context of growing
up was always about the, do this so that you can have that. – Correct. – And you are the first
example in my life, that it was just about doing it because it was the right thing. – And not being uncomfortable with asking, because there’s a level
of practicality to it. But being remarkably okay with a no. – Yeah, that’s one thing
that makes you special, man. I’ve known you for a while,
I’ve seen you grow up. And you were sincere. – Thanks, Kamal. – And you have all those fences here, that’s your rock-solid foundation. – Thanks, Kamal. – And in my opinion, the day I met you, you had subconscious
aspirations for sincerity, but you were it. – I think that’s a fair analysis. – That was my status-quo. – I can almost guarantee
that I won’t get it right. Thank you. I can almost guarantee I
won’t get it right every time, but I promise you that
I will at least try. Whatever change you wanna create, if you wanna create
change it starts with you. It doesn’t start with the government, doesn’t start with your neighbor, it doesn’t start with social media. It doesn’t start with
anything outside of you, it starts with you. Own that change, create something new, and always be in service to other people. That’s how you create change. My name’s Ryan Daniel Moran. I help entrepreneurs build businesses and create new ideas
and bring them to life. If you need some help,
we have some resources and some guides that will
help you create the systems for you to bring those ideas to life. To find your idea, to
create that first product to bring about that change that
you wanna see in the world. You can find out more
resources around this video, or you can just subscribe to the channel and we’ll keep throwing free stuff at you. Either way it’s an honor
to be of service to you. Thanks for watching, and
we’ll see you next time. (dramatic instrumental music)

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About the Author: Oren Garnes

13 Comments

  1. Great video Ryan! The video you did with Gary a couple of years ago is one of my all time favorite interviews.

  2. Btw, I'm taking 1 step back to take 3 steps forward. I'm selling my car and moving into a smaller place so that I can invest there money into my business. 🙂

  3. How weird is this. I actually last week unplugged my TV, sold my x-box and got rid of private Facebook and Instagram because I realised that a few years ago when I had none of it, I was heck of a lot more productive and successful in whatever I took on. And now I hear this from Gary V haha! So true

  4. It’s awesome to hear you talk about the “personal work.” That’s where all the goodness lies. Gary is a mirror image of you as you would see a version of yourself within him. Awesome content Ryan please keep creating brother ✅💯

  5. Great video Ryan! I used to follow both the men you mentioned, and now I only follow one of the 2. I love Gary’s comment about his funeral. Healthy perspective!

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