# Startup Fireside Chat Gary Vaynerchuk | Belgium 2017 ## Метаданные - **Канал:** Gary Vaynerchuk - **YouTube:** https://www.youtube.com/watch?v=8cIEOfZ1V9c - **Дата:** 03.03.2017 - **Длительность:** 52:10 - **Просмотры:** 44,043 - **Источник:** https://ekstraktznaniy.ru/video/18945 ## Описание -- ► Subscribe to My Channel Here http://www.youtube.com/subscription_center?add_user=GaryVaynerchuk -- 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. ---- Thank you for watching this video. I hope that you keep up with the daily videos I post on the channel, subscribe, a ## Транскрипт ### [] - I don't do any email at all, which is how I do my work when I'm actually working. The only time I do email is when I fly, even though it's what I'm supposed to do. Because when I'm on the ground, that's the time to do this. So you're answer, and your advantage is time. You need to outwork the people that have money. There's three variables, three pillars: time, money, talent. Talent is hard to control. Money, you don't have yet. Time is your only friend. What you do between 7 P. M. and three in the morning will ultimately probably be the variable of your success. Now if you lack talent, you can work for the rest your life, you're not gonna win. So you need to be smart about that. And then there's the strategy of what you're building. If you're building a piece of shit, you've lost. But the thing that's most controllable in sales is time. - [Man] Okay, thank you. - You got it. - [Man 2] Hi Gary. - How are you? - Fine, thank you. I'm one of the co-founders of Flavor. Flavor is an online platform where everyone between everyone can sell homemade meals online to other people in the neighborhood. - Interesting, there was a company that I looked at several years ago that had a similar concept. And I love the theory, go ahead. - [Man 2] We're now selling over 100 meals per day here in Belgium only, Antwerp and the surroundings. My question, very obvious, but how do you build a sustainable two-sided marketplace? So meaning growing both supply and demand side at the same time. - It's hard, it's why Uber and Airbnb are special. You need to always obsess about both. And the thing that I've seen most two-way marketplaces, 'cause everybody's the Uber and Airbnb of X, right? They over-index on one side or the other and then it breaks. The tension of making both great is all you've got. So you have to literally, you basically have to be a perfect parent of two children. You actually have to love both of them equally. So whenever you feel, and one of the challenges of loving your children equally is they live their lives. And when one's seven and one's six, maybe that six year old is having a tough time and you're spending 80% there, because the seven year old's okay. But you better not spend too much time, because then if you don't spend too much time on the seven year old, it might crack. And that's a two-way marketplace. You have to figure out what the health of both are, and you have to equally have, from strategy, real strategy against both, and then you have to adjust on a day-to-day basis if one is underperforming. - [Man 2] And probably start fairly local and see how it goes there? - Yeah, nobody's ever won two-way marketplaces by going global right away. They always lose, they raise too much capital, it's hard. I loved the way you explained it, like a hundred (inaudible). I'm like, okay good start, you know? Now the question becomes what's the addressable market? How big should and could you get here? If that answer is 40,000 meals a day, you got a lot of work to do. If that answer is 1,500, not so long before you start thinking about where else. My intuition is it's closer to 40,000 than 1,500. So you got a lot of work to do. - [Man 2] Well yes, yes. - Yeah. (audience laughter) But it's about keeping the eye on the ball. And about caring about both sides, and by doing, back to time, unscalable things. You know everybody wants to find that perfect ad product that gets awareness, but they don't want to go to the farmer's market and shake people's hand, or like, tried-and-true things always work. Like you still have eight good friends and family members who don't use your product. - [Man 2] Probably yeah. - That's insane, fix that. - [Man 2] Okay. - You should have 108 people every day. Do you know what I mean though? - [Man 2] I'll start calling them. - But you know what I mean? That's important. That's important, I think people forget, everybody's thinking about scale, and they're not looking at what's in front of them. Like, every single person you went to school with, every acquaintance, like everybody. How many people are using it every day, raise your hand? (group laughter) How many people have used it? You got work to do. I look at that as awesome. Like that's fun, that means you have a lot of opportunity. - [Man 2] It is. - You know what I mean? - [Man 2] Yeah. - Cool. - [Man 2] Okay, thanks. - You're welcome. - [Yannick] Hello. - Hey. - [Yannick] I am Yannick from Seal Jobs. - [Yannick] Good, thank you. And I have a more personal question. ### How Would You Describe the Best Possible Startup Ceos [4:23] - Good. - [Yannick] How would you describe the best possible startup CEO/cofounder? - That's interesting, so I'm big on sales. In general, for me personally, and this is not a tried-and-true answer, for me. I love people that have sold stuff in their life. There's something consistent about it that's really worked out for me in the last 20 years. And they could be tech nerdy, you know they, the kids I liked coming up the game with like ripped music from Napster put on CDs and sell it in schools. So it was a little tech, product right? I was baseball cards and lemonade, some people were candy. So I like sales. I try to figure out as hard core as I can, do they need to do this because they can't breathe if they did anything else? Or are they doing it because they think there's more money in it, or because it's cool now? I think that 95% of the startup founders that I meet are doing it for the other two things. They're either doing it cause they think the most money is there, 'cause they get seduced by the exits they read about. Or because it's now cool to be a startup founder. So I hate the current state of startup, hate it. I've not been investing at all for the last year and a half. Nothing, I've made a couple big investments and things that I'm really involved in. But, the kinda stuff that you guys are mainly doing, I'm not even taking meetings. Because I feel like we have the greatest era of fake entreprenuership ever. In the U. S., it just became so big and powerful and popular, everybody did it. And in other places, it was good for the country, the region, it was the right thing to do. Which is both true, the problem is it brings a lot of people into the game that aren't meant to be. So my biggest things that I'm looking for the best entrepreneur and founder is are they an entrepreneur and founder, or are they acting like one? And that takes, and that's too hard. And unlike the advice I gave downstairs about hire and fire, you can't unfire a $100,000 investment, you know? And so, I think that I look for people that are driven, patient and not fancy. The amount of people that are founders of companies who go skiing on the weekend, who go to every marketing meetup event, who take selfies with micro-celebrities. We're in such a bullshit era. Basically, club promoters have taken over entrepreneurship. - It's the truth. And the reason there's giggles and head nods is we know it. Just became cool. Do you know what a startup tech entrepreneur looked like 10 years ago? Not like this. And not meaning, I'm sure there's some in this room. But none were attractive, none were cool. It was some nerd-ass shit. Like I got in it pretty early, and I was like, "Where the," It was like, and I was friends with everybody. But this was like geek culture. Web 2. 0 were geeks. Period, end of story. If you were a startup founder in 2006, you were a geek, geek. You know what else I look for? A lot of people are building tech companies with no tech person in their company. They're an entrepreneur with an idea, and they think they can outsource the development. And they're in the tech business. So there's just a lot of fake shit going on. Cool. - [Yannick] Thank you. - You're welcome. Hey. - [Lucie] Hi. - How are you? - [Lucie] Fine, thank you. - Good. - [Lucie] I'm Lucie, I'm from BookWidgets. We have platform for teachers, where they can create interactive exercises for their students, to motivate them more. - Love it. And the content would be used in the classroom? Or outside the classroom? - In the classroom, or iPads. - Okay. Yep, whatever. Right, go ahead. - [Lucie] Well, the problem is that teachers are very traditional. - Yes. - [Lucie] So my question is, how do you convince traditional people to be not traditional? - You don't. You do one of two things, you either emphatically, aggressively, through your sheer will, and being not politically correct get them there, or you wait until they get there. You can't fight the market. Now, couple of questions, and I don't know the school system here very well, is there anything within the system that won't let them do that? Like does the teacher actually make the decision, or does she or he have to play in the rules of the superintendent, the government, is there something else that's not letting them use it? It's not that they don't believe, it's that they can't, because they can have an issue if something happens. - [Lucie] There is a little issue. Actually, a big issue that technology in schools, it's not update-to-date, not every school has the technology. But it's getting there, so we are convincing the teachers to get, even one iPad is enough to use it. So to convince them to use an iPad, that's all-- - Can you give them the iPad? - [Lucie] That's not our intention-- - Why? - [Lucie] Just because-- - You haven't thought about it yet? - [Lucie] No. - Okay. (audience laughter) - It's okay. And do you guys have the money to do it? - [Lucie] No. - Right, so I would reach out, and so I would go home tonight, and I would send an email to Samsung, and Apple, and Microsoft, and Google and I would ask one of those companies. So Windows, Microsoft's tablet is not doing great. You might be able to get 50 of them for free. Go ask. And then give it. And now you've eliminated one of your problems. But a lot of startups will go out of business 'cause they were too early. And so one of the naive things that all of us do, including me, is we think it's going to happen faster than it actually happens. So you've gotta be careful with what I heard really quickly here, to make sure that you're not too early. And if you are, how do you adjust to stay alive, until the market comes to you. You're welcome. DRock? No? Okay, next. - Hi, Gary-- - Oh I'm sorry. I'm sorry, brother. - [Nico] I was supposed to sit over there. - DRock fucked you up. (audience laughter) Jesus, DRock. - [Man 3] I was trying to sit close to you guys. - Yeah, I get it, I got it. Too much to the light. - [Nico] I'm Nico, cofounder of startup Impovide, another question for you. In this globalized world,-- - Yes? is the USA still an important market-- - USA? - [Nico] USA. - Yes. For many European startups? - [Nico] Of course. Do you expect big impact of the ambition of President Trump to protect this market? - That's a good question. - [Nico] How can we counter it? And what for SaaS? - My intuition is, right now, and by the way, the answer is I have no fucking idea, comma, based on what I'm seeing him doing right now, he's more worried about getting jobs to stay in America for very old school construction, manufacturing. He's worried about the states that he has to win in his next election. So he's more worried about Ohio, and Pennsylvania, and Michigan. And so I don't know. But I'll be honest with you. With the amount of European startups that have had real success in the U. S. market, President Trump might be your last problem. (audience laughter) Do you know what I mean? - [Nico] Also no borders, so it he cannot protect it. - Well, be careful, anything can happen. Russia and China have proven that the internets has borders. And I take nothing for granted. Especially, being born in Russia. I wouldn't rely on that. I would remind you to be more practical, which is there are not that many winning startups in Europe dominating in a U. S. market environment. I think your bigger problem is the other U. S. startups, that are doing what you're going to do, much more than the President of the United States. - [Nico] What's the reason you think for that? Europeans startups not making it in the U. S.? - Well, I think a lot of it is talent. I think that one advantage that U. S. has is that the most talented kids from America, all migrate to Silicon Valley, and then you basically have this ecosystem of a lot of talented engineers and product people that are teaming up. It's just a talent game, and it's very easy to move within the U. S. from, to San Francisco. So the talent, I actually think plays out. I think entrepreneurship is inherently rewarded in the United States, while it's still historically in Europe, it's finally chipping away, it's why I'm so happy to be here. But historically, failing in America, though tough, is not a deathblow. Failing in Europe is a scarlet letter. And that has been the death of entrepreneurship over time, in Europe. I think that there's infrastructure in history of consumer behavior. The internet is just, though you see interesting things, like the U. K. market has a healthier e-commerce business than the U. S. market in a lot of ways. But I think a couple of those factors, Venture Capital money is consolidated, which is giving a lot of people the ability to build businesses that don't have to be profitable, and have been able to get through and build very big businesses. And the infrastructure of communication. The biggest websites in the world, the far majority of them outside of China, East-based companies are based in the U. S., and China is a closed door. So nobody's really doing much there. It's insular nationalism. Whereas a lot of people are doing it. Now, that being said, Spotify, SoundCloud, there's amazing accomplishments that have worked over there. But I think you're going so macro, I'm way more concerned about the micro. I think you can't focus, or be crippled by that, you just need focus on even being able to win that game, if that's your ambition. You know? The good news is, if you win that game, that means that you've raised a lot of money from a lot of very important people, who will deploy that political and financial capital against you staying alive. To win in the U. S., you've built a billion dollar company. Unless you're looking to build a very practical small business, and then I would diversify, period. Then you don't need the U. S. necessarily. Do you know what I mean? You need the US if you're going global and building a billion dollar company. You don't need the U. S. to build a 10, or even $100 million business. You got it. Hey, man. - [Dries] I'm Dries from LifePower. - [Dries] Good, thanks. - Good. - [Dries] We're building a next generation of power products among which an electric motorcycle. My question to you is since time is so limited and precious for us as entrepreneurs ### How Do You Decide whether or Not To Go for a Business [15:15] how do you decide whether or not to go for a business opportunity when it presents itself? For example, a customer pops up and says, "Hey, but can't you do this custom for us? " and we're like, "That could be possible, but--" - But it takes away from our core mission. - [Dries] Exactly. - So classic. It's a go or no go strategy. - That is gonna be predicated on how good you are. - [Dries] Okay. - Those are decisions I can't make for you. There's not tried-and-true. There's been plenty of people who did a side project, customized, which did two things: gave them the money to stay alive and showed them something they never thought of which then built their biggest product. Then, there's been companies that got distracted and became an agency in the client service business and missed their opportunity. Both have happened a trillion times. No guy from the U. S. who's been successful is gonna tell you the right answer. You're gonna make those calls and your success is gonna be predicated on it. You know what the best part about that is? That's the way it should be. That's what capitalism and meritocracy is. How good are you? Did you make the right call? 'Cause they're both right, but they're not both right for you. Question is will you make the right call when it matters? - [Dries] We'll see. - We'll see. But that's the answer. Don't be crippled by it and more importantly, don't-- (laughing) - [Dries] Fast, make that decision really, really fast. - [Man] Flip coin. - They're literally potentially both right. If it doesn't come to you right away, it's only gonna get harder. The more you sit on something, it gets harder, not easier. - [Dries] True. - People think like they're gonna figure it out. out by tasting it. Should I eat this cherry? Will I like it? The right strategy is to fuckin' eat the cherry. Right? Then you'll know. Truth is, you should probably do both. - [Dries] If we can, but if we can't. - If you can. - [Dries] That works a couple of times, but if a tenth person is ringing at your door, it's like, oh. - Yeah, but then if the tenth person's ringing at your door, you need to figure out why the fuck they're ringing at your door. Maybe the right move is to actually build a business that does do that and is highly profitable so that you have cash when the world dries up of cash and you're not at the mercy of VCs and raising money, but you actually made cash 'cause you were an agency for four years and then you're 37Signals and Jason Fried which is they were an agency and they converted into their product and they became a huge business. People are fancy. People when they have nothing say dumb shit like, "Yes, but the economics are in building our own product, "not in services. " You don't have anything. - [Dries] Yet. - Yet. But the best way to have something is actually do something that's bringing you money. - [Dries] Good choice. - I think so. - [Josef] Hi, Gary. - Hey. - [Josef] I'm Josef for Audiome. We do iPhone repair on location, on spot. - That's cool. - [Josef] My question for you was how do you expand? - How quickly? ### How Do You Expand in New Cities without Being There Yourself [18:06] - [Josef] Like in 30 minutes. - Great. - [Josef] How do you expand in new cities without being there yourself to promote it? - By being there yourself through either you or the person you trust the most in the world. The end. When Travis was expanding Uber, he either went to the market or Ryan Graves 'cause he trusted him the most. - [Josef] Okay. - And he did that for five or six markets until Patrick in Chicago showed that he was worth trusting and now Patrick and Ryan and Travis. Everybody's trying to scale. Scaling the unscalable is how you get to the point of scale, so either your number two has got Belgium on lock and you can go to Paris or she or he can go to Paris, but don't hire somebody on a whim because you don't know what you're dealing with and then you lose. Or you can win. - [Josef] Yeah, yeah. - But you're risking it. I don't think opening a new market is worth risk 'cause it can take you down. So what I like to do is over hire. I would probably hire an extra person or two here and really start testing and tasting and understanding them to be ready to move one of 'em there. - [Josef] Nice. - If you're only in one market, I'd probably move to the second market. - [Josef] Thanks. - You got it. - [Nicholas] Hi, Gary. - Hey, man. - [Nicholas] I am Nicholas from Plannr. - How are you? - [Nicholas] I'm really good. I'm really grateful to be here right here with you. - Thanks, bro. - [Nicholas] We created a solution for businesses to make group meeting scheduling a lot more easier. - Okay. - [Nicholas] My question for you is how can you use storytelling in a more B2B setting? - Okay. Let's go back to the product. What are you solving? - [Nicholas] The problem of scheduling meetings, but more like for businesses 'cause for example, I'm a consultant. - Yes. - [Nicholas] And if I have to work in the company, I need to meet with the CEO, meet with the marketing advisor, and they all have really busy schedules. With my tool, I can just send you one invite, it takes 30 seconds, and we find the perfect moment to have that meeting. - Are you integrated into Google Calendar's API? - [Nicholas] Of course. Google Calendar, Office 365, Exchange, iCloud, all of the big players and we even have really smart plugins that work in your Gmail, in your Outlook. One click and that's it. - Got it. Look, it takes all that data and surfaces up what the right opportunity is? - [Nicholas] Yeah, it takes the data in your calendar, but also your location, your travel time, your personal preferences, like a sniff of AI on top to make like all the stuff that your personal assistant would do, we do that for you and just pick the right moment. - If you put in the inputs or through only API integrations? - [Nicholas] Yeah, we use the information that's in your calendar already. - Got it. So you're trying to figure out how to build top-of-the-funnel awareness for the product? - [Nicholas] Yeah, but I really like the concept of storytelling and I would like to use it somehow in our B2B marketing strategy. - Right, so storytelling in the way that you want to do it comes in the form of making a three-minute video that is a scene out of a sitcom that shows how your utility fixes the problem. - [Nicholas] Yeah. - So what I would do is like, I don't know if you guys have "The Office" as a show? Good. So I would make a four minute video. Here's storytelling. You video that starts with an executive. You just tell the story, right? The executive's like, "Fuck, I need to see Karl, "but where's he? " You just show the problems or it's a scene of two administrative assistants having a beer and saying, "You know what really fuckin' sucks? "When you've got to schedule all three "senior vice presidents and they're all "in three different markets. " You've basically got to show a scene from a movie or a sitcom, then you make the video, then you run ads on Facebook against employees of the companies that you're trying to sell to. Then, people will see the video and then they'll share it with the decision maker. - [Nicholas] Cool. - That's just tangible black and white B2B marketing. Employees of segmentation in Facebook is one of the great underused marketing tactics in a B2B world. So for example, if you were selling a B2B product and you're trying to get to the CIO, you make a video that the opening line of the video is, "Does your CIO know? " If you do that, if the person who watches it is in a different department, but they think it's interesting, they click one button and they share it with the CIO. This is LinkedIn's miss right now and Facebook's opportunity. If you care about storytelling, then you go for humor. - [Nicholas] Yeah, yeah. - Or sad. In storytelling, there's tried-and-true emotions. Humor, fear, sadness, inspirational, you know. Paint a picture. Show me. - [Nicholas] Cool. - Right? - [Nicholas] Yeah. - Two people walking into office, getting coffee at nine o'clock. How's your day? Yours? Gonna suck. Why? He's traveling to 14 cities and I have nine meetings to make. Me too. Two secretaries, guy and gal talking. Duh, duh, duh, some nerd kid comes up. He's like, "Why don't you use," what's the name of your company? - [Nicholas] Plannr. - "Why don't you use Plannr? "What the fuck is Plannr? " Duh, duh, duh, duh. Everybody's happy. (audience laughter) Got it? - [Nicholas] Yes, very good. - Cool. - [Nicholas] Thank you. - [Ruben] Hi, Gary. - By the way, real quick, that's how Dollar Shave Club created a one billion dollar company. One video. Now, that's hard. You might have to make 11 videos before that happens and that might cost you so much money you go out of business, but that's what it takes. - [Josef] Okay, okay. Hi Gary, I'm Ruben. I hope you're enjoying your time in Tech Summit. - [Gary] I am, thank you brother. - [Ruben] Nicholas already explained a bit about the product, but what I really want to know is since you like predictions, for B2B companies, what are the new big players in social media landscape and how to define which to use for your company? - [Gary] B2B has the same opportunity and has the same platforms as B2C, but not every product works for B2B the way it does for B2C. So for example, Snapchat. Snapchat's very effective in the U. S. It's very big, obviously it's lost some steam because of Instagram copied features, but it's still much bigger. I mean people are so funny, people are so lazy. They're like "Oh it's dead! " Yes, it's dead. Hundreds of millions of active users! Super dead! Ya know? Might not work for every single company because the target of who they're trying to get to might not be using Snapchat. But, if they are, so for example, if you guys decided the people that actually would use Plannr are actually 20 to 30-year-old admins. Now you're saying "maybe they are on Snapchat. " Now, you know that there's an open API. There's an open platform now where Snapchat allows you to make custom filters. It's one of the great deals of all time. You wanna win in the U. S. market? It's five dollars for 20,000 square feet for an hour. So I don't think this is open for here yet, but if it was, or when it was, I could have put a filter for my B2B company over all 300 people here, let's say 80 of them used it, for all three hours that events were going on, it would have cost me $15 and the time that to create a filter, and the 31 coolest people here, youngest, most tech savvy, would have seen my filter, and that probably would have been worth $15. Or, I promise you when it opens up here, and now let's get even more interesting, there's an enormously big match for your national team, and you know the 15 biggest bars or pubs or gathering places, and now you buy it there and that's just general awareness. That's just brand marketing. So, nobody's thinking that Snapchat's good for B2B but what if the biggest conference for secretaries and admins in the world is happening in Hong Kong and you buy your filter there? (Ruben laughs) Do you see? People, I said it downstairs and I'll say it here. The key. back to your first question my man. The key for if you're an entrepreneur startup founder of a young company, you have to be the architect, general contractor, you have to be the mason, the plumber, the garbage man. The reason I am so fearful of startup founders right now is everybody wants to be the architect. You know? You gotta be the executor. The reason I have so much bravado around my social media strategies is I'm a practitioner, I use it every day. Everyone one of 'em. Lots of them. Always. You know? And that's a big deal. So, to be good at marketing, you have to be doing marketing. You have to try these things. I would say that Facebook is number one, two, three, four, and five. (group laughter) - [Ruben] Just one prediction, the one next, here - [Gary] I don't, you know what's funny? People think I predict, I don't predict. I just move quickly when it's happening. - [Ruben] Yeah but you recently said Musical. ly is the way to go for B2C - [Gary] Yeah after 40 fuckin' million kids downloaded Musical. ly. (group laughter) - [Ruben] But it's not as big as in here, as in-- - [Gary] Yeah, I mean here, by the way, the greatest advantage of being in Belgium is you get to see the future and just do it here. Now, not every time, Pinterest doesn't always become huge here, but it's worth the risk. You should move fast on every U. S. platform every time because all you need is one of them to be the next Facebook or Twitter or Instagram or Snapchat, or whatever, I know Twitter never popped here asmuch but all you need is one, and it was worth all 15 failing because the 16th time paid for all the other times combined. - [Ruben] Okay. - [Gary] Got it? That's how I predict, I just use 'em all, and then I look like a genius. (group laughter) He did it! And I'm like "Yeah, you didn't talk about social camera, you know, remember Vine? But, here's what's funny, it's like a hit show. Vine is dead, but I got a lot of value out of Vine. For the 13 months that it mattered, I got what I needed out of it. Everybody wants all these platforms to last forever, but they don't want every television show to be number one, to run commercials. You just run commercials when it is number one. - [Ruben] Thanks. - [Teegan] Hi, my name is Teegan. I'm here on behalf of GingerWald which is a B2B cold-pressed juicing company. - Very cool. - [Teegan] I do their marketing. The reason why they contacted me is basically because I have a Facebook page with over 36K likes, which is something. - Yep. - [Teegan] It covers all the hip spots in Antwerp, so if you don't know where to go tonight look it up. (group laughter) - I will. - [Teegan] Anyway, I kind of feel like a fraud. - Because? - [Teegan] Because I don't know how to generate money out of my Facebook page. - Yep. It's really hard. I have the impression that nobody wants to pay for content, or ads, they're willing to pay for ads. But the numbers for ads are way higher than you have for content. I'm asking, basically, for example, for GingerWald, how can I sell myself to them? I mean, I already sold myself to them, that's not the question. But the question is- - How do you stay there? - [Teegan] How do I stay there? ### How Do You Provide Value for What You'Re Being Paid for [29:22] - How do you provide value for what you're being paid for? - [Teegan] Yes. - First of all, the fact that you care about that already puts you way ahead of everybody else. So that makes me happy. I don't know. I always say sell your truth, right? You heard that. I agree with you. I think it's funny that we're in this era right now where a lot of people are getting hired just 'cause they're young or they've got pay dirt and hit some magic on some sort of social media account. Then traditional companies just think that's the magic. It's very hard to generate money from anything, not just social media, from print and radio and television. So I think that being up front with the client is always the best. I think I don't have a great, so, are you looking for the short term, is the real question just a very short term, practical answer of how to drive business for them, or are you going more macro? - [Teegan] Actually, I was looking up stuff and I read a bunch of articles online. I think they're really focused on U. S. market, and I was actually wondering if there might be a cultural difference. For example, that Belgians aren't really interested in paying for content on social media because they have the impression- - When you say paying for content, you mean the generation of creative? - [Teegan] For example. - Well, Belgians are paying tons of money for content. - [Teegan] That wasn't my impression. - Yeah, so your impression's wrong. There's a ton of companies paying creative agencies money to produce pictures and videos to put out on social networks. How many companies have you talked to? - [Teegan] A bunch. I mean, for my page, or for- - No, so one more time, I want to really know what you're asking, 'cause you're dancing, which is cute, but I wanna answer your question. Are you asking for people to sponsor creative on your page? What are you asking me? - [Teegan] Okay, so for my page. - I can't answer you if you don't ask me. - [Teegan] No, so for my page- - Fine. - [Teegan] I mainly talk about restaurants,-- - Yes. - [Teegan] ask them to pay to put content about their restaurant on my page. - And they say no How many restaurants have you asked for money? Tell me the number, bunch isn't interesting. - [Teegan] About a hundred. - And how many restaurants are in Belgium? - [Teegan] All of them. - Good, go ask all of them. Even if you're zero for a hundred, you need to figure out if you're zero for 40,000. How much are you asking for? Can it be performance based? So, for example, what are you pitching them? Because if you go into a restaurant and say the following, "Hey, Mack. "I cover your restaurant, I like your restaurant. "Let's make a deal. "You're gonna pay me 500 bucks for three months "to put out some original content, "but I'm gonna assure you 15 clients "because I'm gonna do a call to action for a free beer, "and then you'll make it up. " If you're just walking in and say, "Hey, Mack, "pay me 500 bucks for pictures and videos "on my Facebook page," he may say no. But if you say, "I'll give you the money back "if you don't get 15," maybe he'll say yes. Maybe what you're trying to sell isn't interesting to them. Also, maybe you haven't asked the other 7,000 restaurants and you just serendipitously got zero out of a hundred, but the next batch of hundred you get 11. Or maybe you're asking for too much. - [Teegan] I highly doubt that. - I believe you. So what are you asking for? - [Teegan] I'm just asking if they wanna post on my Facebook page, I'll provide for the pictures, the copy... - And how much are you asking for? - [Teegan] Like, the number? - Yes. - [Teegan] Euros, 150. - And they're saying no? - [Teegan] And they're saying no. - And you're zero for a hundred? They just don't believe you. You gotta figure that part out. That happens to youngsters all the time. Youngsters always ask me, "How do I sell because they think I'm too young? " I'm like, "You don't. " You don't convince people. You're not gonna walk in with a gray-haired wig. So I think, remember, don't try to sell somebody who's not sellable. You're dealing with small, traditional businesses. A lot of those people are saying no to their own children to do Facebook marketing, let alone you coming out of nowhere and wanting 150 bucks for it. Got it? - [Teegan] Mhmmm. - Here's what I would do. I would do a post on a single restaurant and do unbelievable writeup about the single best drink or meal they have and push hard your entire audience about go in Friday and order this. And then I would call Saturday morning and find out how many of those they sold. If you call in Saturday morning to Mack and go, "Hey, Mack, did you sell a bunch of french fries yesterday? " He's like, "Fuck, we did. " You're like, "No shit, dick, I did that. " (audience laughter) - [Teegan] Okay, fair enough. - Different strategies. - [Hans] Hello, I'm Hans from Temple Twin. We are frustrated by the state of advertisements still. There's a lot of push still. But we see a lot of opposition to this change that is coming. - From the client or from other agencies? - [Hans] From agencies, yeah. From media partners that we are trying to convince. - Yep. What're you selling them? - [Hans] We're selling them, well, our approach is that it will be better for all parties-- - No, I understand the thesis, what do you do? - [Hans] We sell them advertisement space, but in a consumer-friendly approach. - What is it? Where, how, what? - [Hans] Well, it's not in the middle of your movies, or music, but it's time that you pick like on the breakfast table or on the toilet, a lot of our users use on the toilet. You watch or you get inspired by commercial messages and you get credits that you can exchange for Spotify Premium or Netflix or something like that. - So I personally hate your business model even more than theirs. (audience laughter) I'm being honest with you. But I could be wrong. But I've looked at "incentivized marketing" for 40 years. I hate the idea that the only reason you're watching my video of this, is 'cause you actually want Spotify credits. And that's what I believe the model of incentivizing advertising looks like. So, I'm probably not the guy to give you the model to convince people because I've talked a lot of my clients out of it. If I'm reading what's right, I feel like that's what I'm hearing. Now, every business that I've seen in that world has short-term victory and long-term down, and so, again, if you just think about the thesis of what you're saying, you're asking a consumer to consume an "inspirational message" or whatever you wanna call it, that was very clever and I liked it, but the only reason that person is watching, especially, are you your own platform, your own app or thing of that nature? That's even crazier. The only reason somebody's downloading it is to go through that motion to sell their time in return for something they actually want. The last thing they're actually giving the advertiser is their attention. You're just whoring out that transaction. - [Hans] We have a nice numbers with our-- - Of course you do. - [Hans] 1200 users-- - No, you have nice numbers, but are you actually getting people to buy my grapefruit soda is a very different thing from a branding standpoint because the intent of the interaction was not for that. I hung out with this person 'cause I wanted to date that person. There's nothing good happening here. (audience laughter) By the way, let me just say this; I've been wrong about a lot of things, but as you can tell, I'm very passionate about this 'cause I've looked at it for a long time. I'm just not a big fan of incentivizing advertising consumption because of something else. I want you to buy my grapefruit fuckin' soda not to get credits to buy an Apple iPhone. - [Hans] But the focus in the app is not only credits, but it's a nice side effect, that's it. - But it's the engine that drives it, right? - [Hans] It's part of the drive. - Yeah. So you're trying to convince media spending agencies to drive dollars into you guys. Yeah I mean look, I would definitely go through very hardcore performance based agencies. If you go to the media-centric people, they're gonna be more in the branding, right? I think the people that are real digital performance media buyers, they'll look at metrics and make a math decision, not an emotional decision, and I think you'll have more opportunity there. - [Hans] Yeah good because we have nice return on investment-- - Correct, correct. You're gonna win that game because people have to, you're forcing them to, watch the whole video before you get the free stuff, which for me as a marketer means you didn't accomplish the goal, but for all the math marketers, you appease them in the short-term. - [Hans] Thanks. - Yeah. You know, and I want you to win, but I can't bullshit you how I feel about it. - [Hans] Sure, that's why I'm here. - I appreciate it. But go to the performance only 'cause that's who'll go for it. - [Hans] Thanks. That was the last one. - [Man 4] I'm actually an oldened career compared to most of the people here. - Thank God, me too. (audience laughter) - [Man 4] What would you recommend, by the way, what do you think of your soda? - Mm, I like it. - [Man 4] It was my company's. Is that right? (audience laughter) Phew, that woulda been even worse than that, right? I like it, I like grapefruit flavors. - [Man 4] So what do you recommend old entrepreneurs? Because, yeah, I got a family, I got all the things which the young guys don't have. - Mhmmm. So, I understand the circumstances, I actually don't think they're any different, right? You have experience, you may have some wins under your belt. You may have different things that they don't have. I'm not worried about what one has, what one doesn't have. My question is what're you asking specifically. Like what do you wanna do? - [Man 4] Well I jumped, so I did it, I'm going through it. - So you were doing what? - I was marketing director for a big companies. - Got it, and you decided to start your own brand? - [Man 4] Correct. - Awesome. And so what's happening? - [Man 4] It's going very well. Good. So what next? - [Man 4] Okay, people around me say, "You're 48. "You're starting a business now? " - Sounds like losing players. (audience laughter) - [Man 4] Good, okay. - Is that good enough? - [Man 4] Yeah, no that's fine. Sometimes you doubt yourself, well not doubting yourself,-- - I get it. - [Man 4] because you know what you want to do. But yes, you are 48-- - Here's what's happening, it's interesting. You're very interesting to me, here's why: you either were an entrepreneur and you suppressed it to do the practical thing and work in corporate America, or you were kind of maybe 50/50 right? Like you had safety but you also had entrepreneurial tendencies. You weren't 100% purebred. Like for me, I would die. You know, like I can't breathe if I'm not entrepreneuring, and I mean, since I was like nine. I mean that's why I got very bad grades in school. This wasn't, "It's cool now," I was disaster in school and the immigrants got A's, that's how you got out, you know? So what's interesting is, the reason you're letting outside forces seep in is 'cause you're not, when you're 100%, you don't give a fuck. You're crazy to begin with. The whole thing's crazy, right? So if you're in-between, I would tell you this, let the results and the way you feel speak. The last people you should be listening to is anybody else. If you feel it. - [Man 4] Yeah. - You know what I mean? - [Man 4] Yeah, I know. - I mean, now, if your whole circle, if your spouse, if your parents, if your siblings, if your best friends are all pushing, "Hey, hey," it can get hard. What I would say is find an outlet for support. Keep hanging out with these people, right? Offset the voices. You need the other voices. Watch content from other people. Like if you need that. So I don't. I don't consume anything 'cause I don't need ideas or a reformation or motivation from anything. I keep insular, but if you're feeling it, and I understand because you're practical, right? You feel a huge sense of responsibility? - [Man 4] That's correct. - And so you're always thinking, "What could go wrong? " I would remind you a couple things. Did you have a fairly successful corporate career being a marketer? Good. How long has this been going? - [Man 4] Two and a half months. - And how's it going? - [Man 4] Very good. - Good. It sounds like you're just a winner and so if you happen to lose here, which we all do, I have a funny feeling you're going to be able to go get a job. - [Man 4] Yeah, yes, but I want this. - No shit, that's why you did it. But you have to understand upside versus downside. ### Upside versus Downside [41:53] The upside is you build a whole life around something you wanna do and it's the best and you make more money and you're happy and you're doing your thing. The downside is the other thing you left. So as long as you're not worried about what everybody says about you losing here, if you have to go back, then you're risking nothing. Yeah. - [Man 4] Nice. - You got it. - [Man 5] Alright, so we have some time, because, actually you make time go slower (snaps) (audience and Gary laughing) People can ask four questions or there are... - Yeah. - [Man 6] Well, talking about content creation, and content marketing, when do you think, you for instance, upload a lot of stuff. - Yes. - [Man 6] When does a lot become-- - Too much? Based on how good you are. So it's in parallel with quality. Quantity axis curve of too much is when you're not good enough. For some reason, the numbers show me that, even though I'm saying the same thing over and over, as you guys can tell in here, especially the ones that are closest to me, I'm so improv, it comes so natural to me as a communicator, I can still say it in different ways, paint different pictures, and it makes it interesting. And maybe this analogy finally got you to understand, or maybe that understand. It's the reason I continue to do Q& amp; A. Left to my own way, I'm gonna get into the same patterns. When I realized that, I started forcing more of this, because you're forcing me into new ideas, new thoughts, teaching me different analogies, right? So, it's too much if you have nothing new to say, or nothing to say that's relevant in a new way. Yeah, I mean, notice how there's not a lot of blog posts for me? I finally figured out my team, they team transcribe, and I've got some blog posts of my words, but I'm not a talented communicator in a written word, so I don't do it, right? So you also have to know your skills in communicating. A lot of you have a lot of good ideas. You should be taking them, taking your phone, recording it, and putting it out in the world. You know how a lot of you have good ideas? First of all, the amount of people in here who have a lot of good ideas and aren't even recording it for themselves to use later, they're just letting it... That's really one of the other big reasons I started doing DailyVee. I was like, fuck, there's a lot of good shit I'm saying. (audience laughter) And I mean for me not just for you, that I'd like to have. And then it became like, man, all those things I said back in 1996, 1999, 2003, 2000... You think I've got a good thing going now, if I'd been doing this from the beginning, fuck, you would think I did predict the entire... I fuckin'... (audience laughter) I mean, now there's some things that were wrong. I remember for four months, I was massively passionate that all email would become video. (audience chuckling) But that would be fun too. You know, when everybody puts me too high on a pedestal, I'd play that video and be like, "what about that? " You have to balance, you know? But I think the market decides too much, and I think some people have one move, million moves, just gotta figure out where you sit in that. Some people are better off writing a very thoughtful ten thousand word essay once every two months that everybody looks forward to, 'cause they're a great writer. You can see, I'm fast. I can give real business advice, (snaps) I'm really in it, I can do this. And shit, a lot of times it's really right too, I'm a good entrepreneur, right? But I can't write an amazing 20,000 word expo. Do you know how sad I am, I can't do that? Some of my thoughts, I never fully get there, they get to 73 percent, but I don't have the ability to make it deep enough, 'cause I'm just... You know? And so, sometimes it takes me two or three years, document over create. How many of you heard that from me? Document over create? Great, so that took me a long time to get to. Maybe seven years, but it was the thing that really unlocked it for a lot of people. Just you, my point on creating content, is, instead of trying to think what you make, just document everything you're doing. Do you know that two or three of you, if you just documented the journey of figuring this out, that people would watch your video on YouTube everyday, of you trying to figure out the school system, and that in itself is what would build your business. - [Man 2] A story. - Yeah, it's a story, it's the journey of an entrepreneur. The legacy that I'm creating with DailyVee? Fuck, you know how cool that's gonna be when there's ten years worth of my everyday? (audience laughter) Especially if I pull off very big things? You know how fun it would be to watch the three years before "Drake" became famous, everything he did? You know how fascinating that is? You know how cool it would be the watch everything, especially Steve Jobs, perfect. I'm not at that level yet, (audience chuckling) but I would tell you that I'm in the same place right now. Steve Jobs had Apple, then he got kicked out, then he had a failure called NeXT, failure. And then he came back to Apple and it all went crazy, right? It would've been awesome if he did daily vlog for that last year of NeXT, that in between year, and that first year when he launched the iPod. Fuck, we'd all watch it, everybody. So there's a lot, you know. And by the way, even if it never changed your business, do you know how much fun it would be for your granddaughter to watch you do it? Really, think about life. You know how inspiring that would be? She'd be like, "damn, grandma was a huslter. " (audience laughter) "I wanna be one too. " No, really, right? You know how much fun it would be for me right now to see my dad making two dollars an hour in 1979 waking up at 4:30, driving, working 15 hours in a liquor store and then coming back? That's cool. So, I don't think we think long-term enough, what it really means. You know, I look at stuff now, I'm like, "Oh, man, I was so young. " "Oh shit, I was pretty fat," you know? It's cool. It's why I do it. Yeah, let's do it. Hi - [Man 7] Hi. 15 years ago I was lucky enough to invest in nerds. - Nerds candy? - [Man 7] Nerds, no no. - No what? Nerds. I was like that's super cool. I love Nerds candy. Got it. Yep. - [Man 7] First of all, thank you for inviting this guy and paying for him. (audience laughter) In those 15 years and again yesterday I realized that the biggest pains in building up confidence are also the biggest assets. What's your biggest pain in your story? - [Gary] So I want to make sure I'm interpreting your question. The adversities that lead to the successes? Give me an example of one of yours so I can use that as a proxy to give you my answer. - You mentioned about, not your family, but your environment. This old guy, colleague of mine, also shared it. - [Gary] Adversity? - [Man 7] I don't believe that you can become an entrepreneur, sorry for all those who are dreaming about it. - [Gary] I agree. I think it's a natural-- - [Man 7] You are or you aren't but besides that what I meant is it's hard. You can't show that you are in pain. Yesterday I was in pain. - Do you know how many people have committed suicide in the tech startup community in the last five years and there's not a peep about it? Tons. - I don't want to. (audience laughter) - I personally know of more than a handful and I know that I'm not looking for it. I know that Warton, one of the leading startup, entrepreneur schools in the U. S., suicide rate has doubled each year with the growth of this because entrepreneurship is on the pedestal and everyone thinks it's easy. It's the loneliest, it's his emotion, you know how hard that is? There's no blaming anybody. If this wins, you. If this loses, you. That's lonely as fuck. That's why I keep saying, you know what the best game is? To be the number 2. You get a lot of the money. action but you don't get that. Right? Rick, I was just number 2. Rick fucked up. He was the CEO. I was just the COO. I told Rick. - [Man 7] Again, not to interrupt you-- - Yes sir? Please. - [Man 7] You know you're doing the same thing as a girl. You're dancing around professionals... (audience laughter) - Yeah, I'll tell you why I'm dancing. - [Man 7] Sorry. - No, I appreciate what you did. The reason I'm dancing is because I don't think you know how purebred I really am. I'd be lying to you. I don't wanna lie to you. I feel like you deserve an answer and I don't think I have one for you. Zero. The day I stopped being a student, my whole life changed forever. I never had one bad day. When I'm in pain I go to sleep for five minutes and I wake up the next day and I kiss the world. I don't give a fuck about entrepreneurship. I care about the health of my parents and my children and my wife and this thing called entrepreneurship is easy as fuck. I'm the best. You understand? So the reason I'm dancing is I didn't want to give you such a ridiculous answer that I know does not map. I'm gonna end up being the guy, my man. When's it's all said and done, when I die, I'm gonna be on the fucking pedestal at the tippy top. That's not everybody. So for me to give that answer is very difficult because I have pain. There's always problems. My brother walked in and said "I quit. "I have Chron's Disease. I want to leave VaynerMedia. "It's all on you. " That's not fun. That's hard but it took me 8 seconds to absorb and I started smiling and saying good. Just who I am. So for me I was dancing because I can't even give you an answer because every day's hard and that's the best fucking part of it and so that's my truth. (electronic music)