Hard Work or Nothing – Gary Vaynerchuk on The Business Casual Podcast

Check out the Business Casual Episode Page & Show Notes

Key Takeaways

  • Gary’s secret sauce:
    • Being just a hair early on big trends
    • Not focusing on social media comments, whether positive or negative
    • Giving more value than he takes
  • More people need to communicate their happiness and gratitude on social media
  • At the moment, Gary believes TikTok is THE social media platform to be on because of its incredible organic reach
  • Gary’s parents taught him two important lessons:
    • “Hard work or nothing… and kindness over everything” – Gary Vaynerchuk

Intro

Gary’s Secret Sauce

  • Gary’s secret formula for success? – Being just a hair early on big trends
    • “I think my story will be a story of timing”  – Gary Vaynerchuk
    • (But you also can’t be too early, Gary believes something big will happen with VR but it still needs time to develop)
    • One example of Gary’s secret sauce in action: Launching an e-commerce wine business in 1996 before the massive popularity of the internet
  • Gary doesn’t focus much on the comments his social media posts/videos get, whether positive or negative
    • By not letting his ego get too high or low, Gary is able to continually put out content
      • “Once you’re not scared of the feedback, you actually post the truth”  – Gary Vaynerchuk
        • (And once you post the truth, you become unique)
  • Another secret to his success: Give more value than you take
    • Gary is constantly creating content and gives it out for free across several platforms
    • 🎧 He’ll never stop a video midway to ask viewers to buy a bottle of wine or a pair of his shoes – he focuses on providing value, not taking it
      • His motto: “Build a brand and bring value. Then, you basically karma and guilt people into doing business with you.”

Gary’s Next Mission

  • 🎧 Which of Gary’s projects excite him the most?
    • “That I’m tricking young entrepreneurs into valuing patience and kindness and empathy” – Gary Vaynerchuk
      • Why? – He wants to see more creators displaying patience, gratitude, and kindness within their content
  • More people need to communicate their happiness and gratitude on social media!
    • One easy way to do so: Write a thank you comment on airline’s Instagram page if you experience great customer service

Get on TikTok & LinkedIn

  • Gary believes TikTok is THE social media platform to be on now because of its incredible organic reach
    • Twitter and Facebook were the hot platforms in the mid-2000s
    • Instagram was the hot platform between 2011 and 2013
    • TikTok is the hot platform of today
      • Why get on TikTok? – “When you move fast, you land grab… Best always wins, but first is a great place to be too.” Gary Vaynerchuk
  • Why aren’t many brands advertising on TikTok yet?
    • New things are sometimes scary
    • You can’t legally market to kids under the age of 13 (and TikTok is filled with young users)
    • Many brands don’t target customers under the age of 18 
      • (Unless they’re selling fashion, candy, etc.)
  • Gary is also bullish on LinkedIn – he believes LinkedIn today equals Facebook in 2012
    • “LinkedIn is wildly underpriced” – Gary Vaynerchuk
  • In summary: If you focus on LinkedIn and TikTok over the next 6 months, your business will gain a lot more customers than if you were to focus on Instagram

Fortune 500 Marketing Mistakes

  • A ton of Fortune 500 companies make the mistake of focusing on potential reach instead of actual reach
    • Potential reach is known as GRP (Gross Rating Point): A measure of the size of an advertising campaign by a specific medium or schedule. It doesn’t measure the size of the audience reached.
    • Another way of thinking about this – You may have 50k people subscribed to your mail newsletter, but that doesn’t mean you’ll get 50k opens.
    • Part of the problem: Fortune 500 companies are so big that they can’t tell which advertisements are responsible for which results
      • “I feel bad for them. I don’t think they’re stupid or don’t care. I think the company scores on reporting, not actual business results.” – Gary Vaynerchuk

Nostalgia is Under-Priced

  • Gary is obsessed with nostalgia and calls it the “most under-priced asset in the world”
    • He plans to buy up nostalgic brands (Blow Pops, Cap’n Crunch, Ocean Pacific, etc.) during the next economic collapse for cheap and then make the brands contemporary 

Additional Notes

  • What is a brand?
    • “It’s what people think when they hear a word” – Gary Vaynerchuk
  • Gary’s parents taught him two important lessons:
    • “Hard work or nothing… and kindness over everything” Gary Vaynerchuk
  • Gary is a big believer in hustling but says people took his message too far
    • He sleeps eight hours/night thinks other people should too
  • Constantly produce content and feel free to cut-up and repurpose existing content:
    • Take a blog article: Share quotes on Twitter or images on Instagram
    • Take a podcast: Create audio clips for YouTube and TikTok
  • Gary believes Chinese entrepreneurs are beating American entrepreneurs because they’re hungrier and more raw 
  • Gary is anti-venture capital
    • Too many founders are spending more on building pitch decks to raise money instead of focusing on their customers or developing a better product
    • “We stopped building businesses in the last decade because of VC and all the money. Let’s make this decade a decade where we went back to actually building businesses” – Gary Vaynerchuk
  • 🎧 Gary is anti-school system for people who have “natural, artistic talents” and entrepreneurs