Product and Brand YOUR TIME [8/25/09]

hey Gary ve here um so the more I kind of live my life and do my business and do Vayner media and Wine Library and Gary vaynerchuk and personal brand and the wine business and Consulting for all these clients and companies the more and more it's getting obvious and I think plenty of people understand this but I wanted to share my two thoughts on this that your time as a person is what's now valuable it's the only scarcity in the market right I mean information is widely available opinion are a dime a dozen entertainment is coming at us at all angles the cost to make them is zero the cost to deliver promote them is zero so what can you really monetize well what you're going to monetize Brands and companies is your effort and your caring brand time is what is going to make money in the future actually spending time with your fans taking them on tour recording a song with them you know talking about them having lunch with them having dinner with them Keynotes shaking hands Skyping your time your effort to your community is where you're going to monetize and the more people realize that the customer service aspect of your business is where the money is going to be the quicker they're going to be successful in the new world where almost everything's value is dropping so quickly I mean you can't sell information can you but what you can sell is your time and what happens is people that become caring the more time you give away the more they thank you and then they start getting into the thank you business so clearly you can't sell all your time but the more you give it away for free like live streaming with your fan base something I've been doing more and more of the more people appreciate it the more they understand that has a value the more they know that you're not spending time with somebody else or with your family you're with them you're giving them your time and that engagement and the lack of fear of overexposure is where the opportunity is going to be going forward it's something a lot of businesses and a lot of personal Brands bands products everything need to really think about uh enormous opportunity in your time not the most scalable thing but there's only so much of it and if it's a want to a lot of people it'll become quite valuable brand time is about to get really valuable you know those people that show up at parties and get paid uh athletes and celebrities that get paid a fortune for appearances we're going to see micro versions of that enormous economy behind it and a lot of interesting scalability with Skype and Ustream and these kind of aspects it's going to be quite fascinating the brand the the product of time product time is about to become quite interesting