# How To Take Risks The Right Way

## Метаданные

- **Канал:** Gary Vaynerchuk
- **YouTube:** https://www.youtube.com/watch?v=eLdrHnY8wK4
- **Дата:** 19.01.2024
- **Длительность:** 26:38
- **Просмотры:** 15,070
- **Источник:** https://ekstraktznaniy.ru/video/16996

## Описание

Today's video is the audience Q&A section of my interview on The NatWest Business Show. I share my thoughts on a bunch of topics including, how to take risks in a practical way emphasizing the importance of differentiating between taking practical risks and insanity. I also give some advice on how to build a strong team to scale your business and much more! Hope you enjoy! 

Timestamps:
0:00 - 0:25 Intro
0:25 - 2:14 Loving the process more than the trophies
2:14 - 5:57 Practical advice on taking risks
5:57 - 10:48 This business idea could become a thing
10:48 - 14:16 How to build a strong team to scale your business
14:16 - 26:38 Audience questions and interactions
—
Thanks for watching!

Join My Discord!: https://www.garyvee.com/discord
Check out another series on my channel:
Gary Vaynerchuk Keynote Speeches: https://www.garyvee.com/keynotespeeches
Gary Vaynerchuk's thoughts on NFTs, Web3, cryptocurrencies and more: https://www.garyvee.com/web3nfts
Life, Business, and Career Advice l 

## Транскрипт

### 0:25 Intro []

from 22 to 30 every human on earth should live with four roommates in a [ __ ] hole and go for every dream they have as hard as humanly possible now if you're going to be that kid and you're going to go for your dream pay attention to this next part attention is the number one asset but I know that you guys some of you will have questions for Gary um oh hey brother what's your name

### 2:14 Loving the process more than the trophies [0:25]

my name is a um so you've run so many successful businesses is um a lot of them have been the single business that you've run have been successful enough to Val you for your whole life yes what gives you the ambition to jump from business to business when you know that one of the businesses is enough for you to keep going forever what gives you that courage to go from one business to another business in completely different fields because I view my business life as playing games I don't to your point if I viewed my life from the framework of it being the financial needs I needed to live my life and my lifestyle I'd be done already I just don't W I don't want to do that ski like I don't want to golf all day I don't want to go to San trpe and be on a yacht and drink Rosé I I don't like that except for maybe three days a year I want to build businesses it's the game it's the challenge I professionally navigate my day-to-day the way every person right now if they closed their eyes and thought about what they like to do the most for a day whether it's ski golf yacht cook listen to music watch movies make music like it is my favorite thing to do it's why I got such poor grades I was incapable to even get C's cuz I couldn't give up every second of my 9 10 11 12 13 14 year old self to not try to sell trading cards in the back of the classroom or daydream about things I would do for my dad's liquor store couldn't even give them a minute so it's who I am okay um I like the story about your

### 5:57 Practical advice on taking risks [2:14]

mom being a gangster but also like the fact that you're investig in people and you so many things going in my head right now how do you be how do you become gutless in business and once you've got your funding from an investor how do you not get ambushed like how do you what mistakes that people do once they've got their funding and they if you're talking about once you start a business that's funded by a VC the mistake they do is they make every action to get the next round of funding I'm talking about like you know M house as well oh I see do not convince courage or lack of fear with Insanity do not right like to me I have never done anything professionally the first 12 years of my career my Dad paid me somewhere between $4 and $80,000 a year I made very little money in the scheme of things to 34 years old during that time I almost bought nothing I lived in a very uncomfortably humbly apartment I saved money making $50,000 a year when you think about things like losing your house like when I say sell your home and then go live in an apartment so that you can buy yourself two years of coverage to go start something that's about regret that's different than having some random idea and maxing your credit cards out like there's frivolous and then there's strategic for your happy happiness and so it's very nuanced and has to be important this is also why I tell everybody in their 20s if you're 20 to 30 you should be doing nothing but high-risk Behavior this is how the world has everything backed up backwards we tell kids that at 22 it's time to get serious and they should have everything figured out and you must go get a practical job they're going to live to 100 that is insane from 22 to 30 every on Earth should live with four roommates in a [ __ ] hole sorry I let you buy $1 bad food and go for every dream they have as hard as humanly possible now if you're going to be that kid and you're going to go for your dream pay attention to this next part and you're not allowed to ask your parents for money your parents should not be the funer of your dream you should because if your parents are you will become an entitled loser but if you do it you will actually have the behaviors that may lead you to accomplish it but if you don't you will feel so good at 28 2930 when you decide to go do something practical that you actually tried a lot of us in this room over 3540 didn't get this chance cuz the internet wasn't this internet but the world we live in now the most practical thing every 22 to 30 year old should do is to go for it but that's different than like hey I have a three-year-old child I've got this idea it's going to be the next Facebook and you Mor you know you mortgage everything on this wild dream there's too much delusion that's very different than strategic practical happiness reset so just want to make sure we have that calibrated

### 10:48 This business idea could become a thing [5:57]

we've got time for one more question hi Gary how are you first I want to say a massive thank you because you've really inspired my entrepreneurial Journey thank you brother for a huge reason I started my company um so I started a company we sell flavor two fix yes uh so my first question is if you think flavor two fix is a good business idea my second question why did you start it um basically we've seen like chewing G is a huge market and for 100 years has been no real Alternatives yes and TR Gard like it's got plastic inside yeah of course it's great toothpicks think toothpicks are much cooler much more badass do you know how big the toothpick Market is globally do you have any sense I'm C I'm genuinely curious no I mean it's kind of like we have to create the market for ourselves yes I well from a flavored standpoint but the overall but you know so let me tell you why I do like it yeah I believe that the world that the past will tell you the future so ironically I asked you those questions cuz I was curious about how you were thinking about it but ironically you're going to be very excited to hear this I've actually looked at starting a toothpick business I we should work together you willing to give up 99% of your Equity um you know I looked at it about six or seven years ago because you know there have been pockets in the last 100 years where toothpick culture was very high and I actually think that there is room for it to get cool again 100% I think it's j could I get you to try one real quick you sure can M mint how are you I'm very good I'm folk lovely to meet you pleasure thank you so much for doing this what flavors you good so we have Macho mint pleasing Peach mindful match up and we just released two new flavors mango Madness and Cosmic Cola how much is this uh so we're currently selling them in triple packs so we sell three packs for1 what that means you're making real profit stop for that part in the video so why are you selling them uh so we sell them online on a website so we uh have you had any viral Tik Tok creative yet yes uh so we actually we launched back in April and um we were're we at around um 490k followers so what's the name of the company uh it's called pick them yeah look it up um yes we kind of using like Tik Tok as a real driving force and uh so this is real feedback yes so as someone who ironically genuinely does use toothpicks a lot often the first thing that so first of off from a flavor standpoint very good yeah like I like it like it's flavor from a flavor standpoint I'm happy I like where you're focused on social that's real that goes back to the Practical you could do it at night and you could do things like many more people here can achieve things than they realize because of where social is I think from a product standpoint I'm surprised how quickly it's breaking on me cuz I chew you know like do you know that already yeah I mean we we're constantly yeah of course that would be my first like quick observation that for the small group of people like myself who actually use toothpicks guys it's breaking too fast but the reality is most people if it got hot wouldn't know it cuz they wouldn't have context but I do think that that's something to get them through them faster and then B more yeah exactly fair enough to be fair I do feel gangster I think it suits you too I think you could should continue the I actually genuinely think that this could become a thing the way fashion Works fashion circles this was very big in the 50s and 60s I think a lot of people do want to get out of bad habits one of the things I'm incredibly concerned about is how accepted Vape culture is for kids like I don't know what we're all doing about this it's a joke like we put all that work in to get them off cigarettes and now they're on this [ __ ] and I have a very good feeling that in 20 years everyone's like oh no everyone's dying from cancer from this like this is black and white to me so like I get excited about something like this not only from the entrepreneurial journey and I hope this works for you but this is the kind of thing that I think could also get people that want to get off bad behavior no a lot of people have said that it's stopped them vaping so it's been good for you cheers let clap it up where are you [ __ ] making these things got a question for you I have a

### 14:16 How to build a strong team to scale your business [10:48]

question please hi um so i r a past BR Asian City mainly because you inspired me to start building with past brand in 2018 so thank you very much of course um I think the biggest issue with an agency as you've probably found much more acutely than I have is scaling human capital right yes selling people as a product yes how do you effectively scale that keep good people without I anyway but obvious how do you scale that human capital in a way that's sustainable to a point like the level that you are because the biggest isue I've had is we get great people in they develop through their career or startup they read ceiling we can't put more they move on or we bring people in and their [ __ ] the thing that worked for us is we grew so fast that we didn't have ceilings at the same Pace that most do and then the other thing I did I don't need to rekindle it was I really went deep on the people we're a 14-year-old company with 100 employees that have been there for over 10 years that's insane especially in adland you know right so the two things you need to focus on is spending so much time with the second how many people do you have two of my team that we 10 now 11 yeah oh you should have them all move in with you like basically do I would say this I would say and this is like obviously with them there but this is like real talk you have to go into your head and decide which of the 10 to 11 hopefully for you all 10 or 11 realistically the way the world actually works four or five whoever the four to five you think are that you want to be with you in 6 years from today you must completely change your behavior with them tonight you must genuinely actually no [ __ ] treat them like family ask them the questions that are scary for small companies you know I've been through it which is like what drives you cuz when they're like money and you don't have it you're like uh oh like you know but you have to have those comos and on the other side you must at all costs focus on Business Development to get more business in because that those dollars are feeding the oxygen for the retention because inevitably for so many of them money is going to be one of the variables right but inevitably out of 10 of them five of them are going to believe in you longterm so much that they'll be able to invest too just like so many of the people that work for me that are 10 years and longer they made very little money we were a smaller company but they believed so much in me and then they got rewarded on the other side of the rainbow and I'm proud of that and that builds that r and you're going to have those conversations yeah I mean I want to say the power of personal branding and kudos to you were 100% inbound because I'm proud of you it's funny the uh the book that is coming next year or this year we're here now uh I'm putting out day trading attention it was originally called jab jab left hook it's the update to that book because I got so much feedback like you're giving me now about that book that I decided to write the 2024 version I'm really excited about it and like as you know even in this short window how to be great at social media content not only changes every year it changes every month it changes every week and so thank you for saying that and I'm excited about the new book Thank You Gary yes I'm very proud of you for

### 26:38 Audience questions and interactions [14:16]

you only th swore three times Gary thank you so much you have been absolutely incredible I think everyone will agree yeah thank you uh we appreciate you being here thank you so much right Gary I'm going to be very Unapologetic and take somebody's time apologies no worries um 2019 Wednesday the 20th do you know what you was doing I do not you was in Birmingham and you spoke and I was there and you told me to jump on Tik Tok I uploaded that day and now it's my full-time job so I just want to say thank you appreciate you and now I want to say can I get you on a piece of content 100% okay cool um so how's your general knowledge My overall general knowledge solid I'm very deep in stuff I would say I'm solid in general knowledge Okay cool so I've got two questions for you um how well firstly how's your geography yeah solid right we're in the UK so how many countries are there in the UK um four can you name them Scotland Wales England is Island all right you got help the all right last one last four right yeah last one last one just repeat after me red blue yellow what color is the grass green I've already got G I've already tricked him no no you got it wrong I believe you yeah no repeat after me red blue yellow what color is the grass there we go thank you Gary cheers I appreciate you stay it's really refreshing hear you not swear thank you I appreciate that thank you for saying that they could take a picture of course be two one thank you ladies cheers thank you so much of course take care of yourself thanks so much you're welcome cheers really like what you were saying about kids and losing I have to they have to lose we've completely missed this one it's we're teaching them that losing is bad then they become scared of it and then they can't it's just it's so like I'm so empathetic to why we got there it was well intended but it is destroyed them and I don't use that word lightly it is destroyed so many people in their late teens and early 20s in the world are just not in a great place cuz they think making a mistake or losing or failure is like death and life is hard you got to get used true I used to get the slipper yeah of course I mean of course and I lived in a beach when I was 20 so you know yes I know um I didn't know who you were before but I'm really um inspired so thank you it's nice to meet you too thank you what do you look for can I just ask you one question you said about entrepreneurs what when you're an age or what do you look for in them you know I just take the meeting you know and I listen to their logic and I ask them question because I am one it's not very complicated for me to understand it it's like all of us whatever you really are it's not hard for you to know your own and so because I'm such an entrepreneur if I spend 45 minutes and listen to you say this is my business I'm going to have a good sense yeah I used to take spend too much time paying attention to the idea now I'm spending more time with your ability it's kind of like the jockey and the horse I us to spend too much time on a horse I need to know if you know how to ride the horse how are you I'm good how are you good do you want to ask a quick question please so I run a small business community so helping more people come together feel less lonely and less isolated but I'm finding that a lot of people say they want to feel more connected and don't actually do the connection and they don't take the opportunities any advice to get them more engaged um so in that scenario I would go to the people that directly one-onone that didn't show up and actually have a 20 minute conversation with them on why and then take the feedback of 30 or 40 people and see if you can find the Insight I believe it's because most people are either one of two things one they say it but they don't mean it yeah like the world is filled with that two they feel like they don't have time for it because are so daytoday in their small business they want to come and network but they think if they're out of their business for an hour that it's a problem so they're either stuck micromanaging or they don't actually have the energy the spirit or the intent by telling you that they want to they feel they accomplished it you know like writing something on a vision board means nothing unless you do something about it absolutely the world has gotten very comfortable that by saying something or typing something that they've actually accomplished something when that is very not true so they'll tell you yeah yeah you know and then they feel like they did it without actually doing it so it's one of those two that's really help have a good picture oh man I appreciate you so much thank you in 100 in 2014 learned what you said repeated in an accent people paid me and now I am where I am that's amazing do you remember John cwell the I set that up remember go with you in the end Dr day you know what they're like they don't get content I understand let me yeah let me do this thank you thanks appreciate it thank you sorry no worries at all cheers man good to see you cheers keep it up stay well do both of us for one we both work in that West in the marketing team so we were like we always loved your content thank you so much just wanted to like and it's so funny when you talk about like people who want to get out of their job go you know I work at a bank yeah but it's like how do you like differentiate the vision from like strategy from the frivolous and determine what is the best path for yourself and what you should do yeah it's like hard to know it's like there's so many things you can do out there right it's like yeah I think it's a great question I think too many people chase the thing that they'll make the most that they think will make the most money yeah and I always say chase the thing that you like the most because then you'll work on it the most cuz you like it which in the end actually gets you to the money yeah so that's the mistake people make they're trying to find the right Trend or the right idea meanwhile they go thrifting every weekend and they could make a million dollars a year of thrifting and flipping on the internet so much all the ti hustles these days there's so many out there there's so many thank you you're welcome I wish you well just advice um it's Insurance like more like a boring thing people don't want to talk about it or want to hear about it what kind of advice we give put a message out there if it's a topic that's more boring yeah like Insurance business make it more about you the education people are bored to your point about insurance until they need insurance and so if you're consistent then you're there and there all you have to do is give good information and give stories tell stories of things that people did well and not well and you become valuable so much how are you I'm good what the first thing that you do is take a phone yes what's the second so the to the question you're really asking the thing that I really do and it may be the sometimes is even before I grab the phone it may be before I brush my teeth but pretty quickly every morning what actually often after I grab my phone when and nothing bad happened to anybody that I love I really genuinely say to myself thank God like I have a very I pretty much on a daily basis have a single gratitude moment for it being another day where the things that I most feared didn't happen you know I love I think we re like it blows me away how much energy and time everyone here spends on what they don't have what they want what they need and they don't take the time to be grateful for what they actually have there are 845 million people right this second that don't have access to clean water but we conditioned not to have gratitude and most people find it very hard to have gratitude yeah it's gratitude is absolutely my fuel I'm just grateful so to the other to like where I think you were going with the question the one that I do might that might be a little unique not yeah it's like just having one gratitude moment like okay just like you know like I got a lot of headaches and things but like thank God this you know yeah Che thank you so much cheers just get a quick picture yes cuz I got one from Mr hey go how's it going right quick question I built my business based on two I think big passions of yours employees and marketing as a recruitment marketing agency good for you um I'm really facing like trouble people just believing in the power of recruitment marketing and employer branding and to attract Talent directly like what do you think that is like I've tried to ask them like it's strange right it should work on paper where who are you trying to sell that to or convince or story tell too ambitious smmes so founders of ambitious firms I don't know whether it's just it's not you might just be going to too small of a firm where they can't get over the financial hurdle sure you might just want to level up a hair higher and see talking to co the owners of the business well there's a big gap between a big CE like just bigger yeah I was talking to HR te I think it's probably right level yeah thanks man Che cheers thank you have a goodp happy holiday thank you so much you got it brother can ask one question I take exra time um I know you spoke about accountability for Our Generation yes um but you're also big on taking risk when you're young 100% so I'm in my final year if un need trying to build a business along the side and I'm just curious feel like I don't have a complete sense of direction right now cuz stuff out and that's fine but I'm just wondering what your message is to people my age right is it to take risk and go well 100% okay because you could do absolutely nothing right for the next 8 years yeah and be so [ __ ] young and have plenty of time to live a normal life that you have to take that accountability has nothing to do with taking risks accountability is after you took the risks and you failed not to blame your parents not to blame me not to blame the world to blame yourself the learning that comes from correct got it thank you oh yeah sorry hey guys we have like one minute so can we just rush the photos for got it sorry I forgot to ask I wanted to ask you a question um quite straightforward I think to be authentic self or play the game well both and why to play your authentic self is the actual game okay the game is a shortterm win okay authentic self is the long-term win it's a tortoise in the hair I agree that's great thank you got it cheers take care byebye bye everyone thank you bye cheers bye to see you cheers cheers