Subtitles section Play video Print subtitles - What up blog, hope everyone's doing super well. This is a keynote that I gave in Singapore that really struck. There's a bunch of stuff in management and running operations, a lot of my stuff is for early entrepreneurs. I think for everybody who is running a business with several employees or seven figures in revenue are gonna get a lot out of this one. So, I hope you enjoy it, and I hope you like my sweater. ♪ We're unstoppable ♪ - I'm really excited to be here, thank you so much. So, we have a lot of time together, which is amazing, and so, I will take full advantage of that, and to be very honest, I wanna get into the Q and A part and start throwing this out to you guys to ask questions, so I'm gonna try to get to that as quickly as possible, because I think, for me, when I speak, and what I think has allowed me to have a nice speaking career is I'm obsessed with bringing in as much value to the audience as possible. My origin story of Belarus and lemonade stands and baseball cards is something that you can see on YouTube over and over and over again, and as I continue through my career of speaking, I wanna do less of that, and to be very frank, the reason I wrote a book called AskGaryVee is it's my great ambition to build enough brand where I could come to an environment like this and just go right into Q and A, because at the end of the day, I think that's where the biggest value happens in a keynote, and so, what I'll do, because I'm gonna assume some of you and many of you may not know who I am. I'll try to at least deliver on the promise of giving a keynote, but please rest assured that I'm ready to go into Q and A as soon as you guys are. So, look, I think the thing that, regardless if you're a B2B or B2C marketer, regardless if you're starting on your first day or you've got a $100 million company, I think the thing that will really be important for us to chat about first is the thing that we're all connected by, which is my obsession with attention. Right, before you can tell me how great your product is or how charismatic you are, or why you're so right about what you have to say to the world, whether as a person or as a business, you have to get the person's attention to tell your story. To me, this is the most fascinating thing that's happening right now in our society, is that attention has never been more changing, has never been harder to grasp, I think for a lot of us that have been in business for a long time it's very difficult to grab the current changing landscape of attention at the speed of which it changes. I spend eight, 10, 12, 15 hours a day trying to audit and understand attention, and even for me, there's so many things still happening that I haven't been able to completely grab my hands on, whether it's the depth of eSports, arbitrage as a cultural phenomenon, whether it's the blockchain, whether it's all the opportunity within AI and ML, whether it's the emerging AR infrastructure in the Apple updates and Google infrastructure, whether it's voice, which I speak a lot about right now, on the Alexa, Google, and Apple fronts, we're talking about a very different world than our grandparents and parents grew up in as businessmen and women, and more importantly, as marketers and executors and most importantly, as actual practitioners of the craft. I think the thing that fascinates me the most is how many people in here, I mean, to me, when I think about how many of you flew to be here or are here to see me speak, we, including myself, we're so much further ahead in understanding these things because of our interest in it, regardless of your success at this point in it. If you're sitting in this conference, your intuition or curiosity or execution around the modern day attention graph and the opportunities within it is so much further accelerated than the 99%, and to me, that's super interesting to me, that we have such an incredible opportunity in front of us to trade on this opportunity, and so, my question becomes, how much of what you believe and know about this moment is around you reading or consuming content, and how much of it is that you're actually executing within it? If I can do anything to start this keynote off with, if I can lead with anything, if I can impact you in any shape or form to have one action item, it would be for you to start doing more of the thing. Let me explain. There's a lot of people in this room who understand the concept of KOLs or Facebook ads, but yet, I don't think enough are actually executing within those environments. You know, it's unbelievable how many of you have opinions on these ad products and platforms, yet aren't spending and executing yourself. I think the thing that I spend so much time on is I produce content and do social media, because I wanna stay a practitioner. I think of it as being a mason or a carpenter versus being an architect. If you look at that industry, a lot of architects grow up getting their hands dirty, and over time, they get separated too much from the work, where they lose a pulse on the reality of the current infrastructure. I'm fascinated by that. That is the thing that I try to stay grounded in. If I can get everybody here to make one more ad, to create one more piece of content, to A/B test six different headlines on the same picture in a Facebook, Instagram, WeChat environment. These are very important variables that not enough of us are talking about. And so, at the most high level, I would hope to inspire people to become practitioners instead of pontificators in the craft of the opportunity. There is only one reason I stand up here at this keynote and have people wanna hear what I have to say. It's because no matter what has been happening to me, I've not lost my pulse on the craft of what I do. How many people here have been following me for longer than a year? So, one more time, hands, I just wanna see. Great, almost all of you. Most of you, 60, 70% of you. I'm a simple dude. I basically only believe in 10 or 12 things, and I pump out an obnoxious amount of content, which means that over the course of a year, you're gonna pretty much grasp what my pillars are. I think the only thing that allows me the luxury of keeping your attention over the long haul is my ability to stay relevant to where the opportunities are. The only reason after a year or two that it's worth your time to give to me versus something else, it's because I've had a good career for 20 years of having enough intuition on what consumers are gonna do, but way more importantly, I don't talk about Alexa skills and briefings, I make an Alexa skill and briefing so that I understand it, and I would tell you, there's a huge lesson in that. I think a lot of people, especially if they get a level of success, start getting too far away from the craft, and you start building around the raising the capital, the exiting of the company, the writing of the book, you know, the speaking on the keynote, you just get away from the work, and I would argue that it's never been more important to stay on top of the work, because every day it's changing, right? To me, I'm running late this morning to our first meetings, and I quickly go on Instagram Live because they just created a new update where it allows you to bring people into your Livestream that are watching you, and I did not feel comfortable being here today without trying and tasting it and understanding the functionality in case one of you asked me a question about it. I mean, it's an important insight. It's an important insight, and it is the absolute opportunity, because when you think about the way I think about it, I talk about day trading attention, and when you talk about day trading attention, I'm not a Wall Street guy, I'm not a capitals guy, but I understand the difference between day trading and putting something into a mutual fund and watching it grow, right? There's a very different speed, there's a very different understanding, and that's how I think about it. My sign now says day trading attention. A year ago it used to say marketing in the year that we live in. Why did I change it from marketing in the year that we live in to day trading attention, it was because I realized, oh my God, everything we're about to talk about is happening even faster, that even if you believe in something for that year, within that year, it's changing too much, influencer marketing, and Facebook, and YouTube, and Twitter, and LINE, and WeChat, this stuff is changing too fast and we are not keeping up with the subtle features, because if you really understand this, you know, you look at something like Instagram Stories or Facebook Watch or all these subtleties, in those little sub-arbitrages, polling, in an Instagram, in those little features, in those little updates are oftentimes the marginal opportunity that is the biggest difference between growing your business and not. And so, it's exhausting and it's difficult, but I have one very important statement around this for everybody, tough luck. You know, no matter how we want it, listen, I wish that we never evolved from email. In 1996, I had 90% open rates on my email newsletter. I was crushing it, life was good. I had figured out email. Then in the early 2000s, I figured out Google AdWords. I wish that never changed, I figured it out. I won on that, then YouTube came out. I had one of the first long form shows on YouTube in 2006. I figured it out. I liked it, I wish Twitter didn't come along, but it did, and then I spent 15 hours a day tweeting all of you, and then I grew into one of the most followed people on Twitter, and then Facebook evolved. And, like, Instagram came up, and Snapchat came. Like, this is a never ending game of attention, distribution, and arbitrage, and so I think the biggest thing you need to understand is the best product will always win if people know about it. Right, and so, I think the thing that I spend a lot of time on is I'm a marketer, I like to market, I understand marketing, I'm a business builder, I've built businesses. I think there's an incredible, interesting, kind of graph between the quality of your product and how many people know about it. So, for example, if you're a great marketer, and you listen to everything that I say, and you get a lot of attention, and your business isn't working, a lot of times it happens to do with your products sucking. We don't spend enough time talking about the product or service you're selling, you know? So, please, if you're sitting in the audience and you're looking for the magic pill, or if you think that you're gonna be able to siphon some information that's gonna allow you to play in the edges of the arbitrage of opportunity, please make sure you're looking at your product and service to make sure it delivers, because if you follow my blueprint, if you get results from my ideas that you then become an executor of, if your product sucks, all that I'm gonna do is expose your product faster and you're gonna go out of business faster. So, please start there, but after that, please understand the following. This is a golden era of marketing for one simple reason. The places where our attention and our consumers' attention are, are now driven by marketplace bidding dynamics, not by writing an upfront check to get the ads. Please understand this. Please understand that the biggest difference for us as communicators is we don't need millions of dollars to do television and print and outdoor and direct mail to hit mass, we are trading on marketplaces, Google, Facebook, Snapchat, these are biddable marketplaces. The reason this is the best time is because those marketplaces are underpriced. Those marketplaces are underpriced right now because the biggest companies in the world are not spending enough money on them. You have to understand, when there's a come to Jesus moment, and the biggest brands in the world properly spend in everything that I talk about, everything I talk about becomes null and void. When you have to spend $48 CPMs to get in front of potentially 1,000 people in a feed instead of $7, the mathematics don't work out as nice for why I'm so excited. When influencers and KOLs start charging the proper price for their product placement and endorsement, it won't be as fun of an opportunity. And so, I continue to yell at the top of my lungs right now, how many people here actually have been following me for eight years? Raise your hands, there's not gonna be a lot, but I'm just curious, go a little higher, eight years? First of all, thank you for the eight of you. Second of all, second of all, you eight have a unique understanding of me that many others won't, and let me explain, for you eight, that, I can see two of you right now, that you understand. I was very loud, Gary Vee, in 2009, 2010, but then I got very quiet for my standards in 2011, '12, '13, and then I started getting louder again in '14, '15, '15, '16, '17, right? For everybody else, there's a reason. I am my most excited when I think there's an arbitrage at scale. If I had been making content in 1996, I would've been talking and making videos and audio and written word about email until I put you into nausea. Then I would've gotten quiet in '99, 'cause email had caught up, and then somewhere around 2001, I would have probably spent 24 months yelling at you that this Google AdWords thing is incredible, intent marketing's incredible, if somebody's searching to drink wine, that's probably good to buy for five cents a click, and I would have yelled and screamed for two to three years on Google AdWords, and then somewhere around 2006, '07, it corrected. Ah, dit, dit, dit, dit, dit, dit, dah. Every single person in this conference is going to regret not spending more money on Facebook and Instagram. Every single person in this, I'm talking, and by the way, I know some of you have a B2B SaaS business that you haven't been able to figure out how to do Facebook ads, but I know tons of B2B SaaS businesses that are selling top of the funnel and conversion based sales every day on Facebook at scale because they're trying harder than you to figure out the creative that is the variable of success. Please understand that the creative is the absolute variable of success. That it may be the word or the picture or the video that hasn't let you be successful in Facebook, not Facebook. And so, I sit here with, as you guys can tell, a different demeanor than sometimes when I speak, because I think it's very serious. I think this is an enormous opportunity, and I very honestly am excited that I know three of you are gonna email me in four years and it's gonna be like, Gary, you were right, I didn't spend enough on Facebook, God damn it. So, now that we've established that, I wanna talk about the thing that excites me the most right now, which is voice. A lot of you have heard me yell and scream about voice. How many people here have seen my enthusiasm for voice, raise your hands, great. I'm awfully passionate about it, and I'm passionate about it because of one of the more interesting chapters in my career, which is when I passed on Uber, twice. At a four million dollar evaluation. In the angel round for one of my best friends in the space. The reason I passed was, first, 'cause it was a side project for Garrett and Travis, but second, 'cause I didn't see it. But why did I invest a year later, before it exploded? It was because I understood that Uber was selling time, not transportation. And more importantly, the perception of time, because if you've ever been to New York City like me, there's nothing more humbling than waiting for your Uber and watching 500 cabs that are empty drive by you. Now. Audio. How many people here, in the last year, have started spending more time listening to my podcast and watching less video because of it, raise your hands. Raise it high, I want everybody to look around. This is the insight that matters to me the most. Right? The reason they've done that is because what audio allows that video doesn't is passive consumption. You can listen to the podcast while doing something else. You can listen to the podcast in a shower, while you're driving, while you're working out, it's time arbitrage. Audio will be a huge explosion for all of us, in every one of our businesses, because when you're communicating, and hopefully you're bringing value and not running a radio commercial, when you're communicating and bringing value to your audience and building awareness for yourself, you're gonna be doing it in a way that respects their time. The reason I hate modern day advertising is 'cause it steals time. A pop up banner on your phone steals your time. You have to hit the X, it's too small, it pops up, it opens up, you're pissed off, you try to exit, and now you've wasted four seconds, which, oh, by the way, means a lot to you. It would be stunning to you for you to realize how much slower your internet that you're used to in your office or home has to be for you to feel it. It's staggeringly a little. And so, time only with health and money and religion are now on the pedestal of things that we care about the most, and every technology that I see that sells you back time in exchange for your attention will be the things that I bet on the most. And that is why I am obnoxiously bullish on voice, and when I say voice, I mean I think everybody here should start a podcast. I just do, and in the Q and A, I'll show you an example of any one of your businesses, how it could be a podcast, if you'd like to ask me, and two, I think everybody here should start thinking about what it looks like to develop a briefing or a skill inside of Amazon, Facebook, excuse me, Amazon, Google, Apple, whatever Facebook comes out with, whatever the tech giants from China come out with, it is going to be the way you search. In the next five years, five years from today, I promise you, you will be blown away by how much of your search behavior is done with your voice. As a matter of fact, one of the most interesting stats that I'm paying attention to is that one in every four searches on Google on a mobile device is done through voice. And if you have young children that play in a YouTube environment on an iPad, my son, when he was at three, could navigate the entire web through voice. So, look. My point here is very simple. We are ridiculously lucky, because we get to navigate through this time. For anybody over 30, and especially if you're over 40, you really recognize that, because, for the over 40 crowd in here, we lived pre-internet in a lot of ways. The scale is remarkable, the impact is high, the upside's enormous, and to be very honest, I think most of us are just taking it for granted. I don't think we understand the impact of how much the opportunity is real, and for me, it becomes disproportionately compounded because you're actually at this conference. You're actually part of a very small interesting group for me, which is, I know how big the opportunity is, I know that 99% of people have no idea it's happening, you do, so you're part of 1% of the whole thing that understands it's happening, now it's yours to lose. I would argue that if you are not able to achieve what you want to achieve in life, and you're at this conference during this time, then you really mis-executed. Then you really got into the things that I worry about when I put out content, which is you worry way too much about stuff that does not matter. That you're worried way too much about other people's opinions, which is the biggest reason you don't take chances, because you worry about how people judge your failures, then you're doing a lot of other things that are leading to huge levels of missed shots and missed opportunities, and so that's why I speak so much about being insular, having the right intent, because literally, fundamentally, if you synthesize everything I've just said, non-action is the fundamental reason that most of you will fail, at this point, being in this room, at this conference, during this time, and understanding quite a bit of what's actually happening. Non-action, which if you take all the way to the seed of a human being is insecurity. Which, is probably the biggest reason that I create content, because I hope that you use me as your shield to do shit, period. So, that's what I think is happening. Audio's super interesting to me. Feed dynamics and a mobile device are the currency today, it will continue to be for a little while. Enormous things are happening around us on blockchain and AR and things of that nature, they're all coming, they're all circling around, some things are much further away than people realize, I am very, very anti-consumer VR in the short term. If you asked me, this great phenomenon that I'm so obsessed with called the internet, the only thing that arbitrages it out is VR. If we live in a full VR world, then now what, right? Cool, but nobody here knows a single human being that spends an hour in VR in a week. Not for non-business purposes, consumer behavior's not there. My friends, for the people that are the smartest when it comes to tech in here, the biggest thing that stops you from being successful is you understand that the tech is ready, but you haven't factored in consumer behavior. The biggest reason that so many super smart technologists fail with their products is they anticipate techs and they understand that it works, there's so many things that work right now that are four, seven, nine years away, because we're not ready to use it that way. Online dating worked in 1996, but it took another decade before there was a stigma removed from it that allowed it to start having some legs, and 10 years after that, now it's mainstream, right? That is basically what I do for a living, day trading attention, understanding behavior around it, what are people gonna do today that's meaningful to the goals that we have? Couple things that I wanna throw out before we go into Q and A. One thing that has come up quite a bit today since I've been doing interviews and interacting with people on social here in Singapore is because I have a personal brand, which, oh, by the way, is such an interesting word, 'cause it gets people very emotional in both directions, I just wanna remind people that hate people with personal brands, it's just a slang term for your reputation. So, people that have a reputation or a personal brand, there's a lot of people asking me if that's a requirement to build a successful business, and I find that laughable, because I wanna remind everybody, I wanna remind everybody that 99% of businesses don't have a personal brand in front of them. You know, I think that it's a great to have, I think if you are charismatic or narcissistic, or enjoy the attention, it's a nice to have, I super love it, I love taking selfies with you as much as you love taking it with me, it brings awareness, it's branding, but it is far from the reason why one would be successful and it's definitely not a requirement to be successful in today's business environment. The requirement to be successful is very simple. Is your product good enough, and do people know about it, and do you have the structure to get people to know about it better than the people you compete with for the same share of attention and money for that product. It's very, very, very, very basic. The biggest issue is, slash opportunity, is the speed in which it turns and changes. And so, couple of the things I wanna talk about. Let's make it contextual to this audience. I wanna remind most of you that you have a disproportionate advantage from most entrepreneurs in the U.S., which is, oftentimes, not always, because of cultural differences, but oftentimes, you get to see a preview of what's happening before it happened. When I think about my friends that have built successful businesses in southeast Asia by simply paying attention of what's happening in America and then replicating some version of it in the market, it is literally the dream come true. American entrepreneurs got mad at those brothers in Germany, right, who would rip off the ideas and build a business. I always was so upset about that. I mean, I think Facebook has proven that there's no ripping off if it's a feature, and I think I would also argue that ripping off by looking at a different business in a different market and then interpreting it into your market is far from ripping off, I think it's called smart. So, I would highly recommend, I don't know if it's pride, which I think holds back a lot of people, but please take advantage for the disadvantages one could think they have, there's only five million here, if you wanna do it in Indonesia, there's a lot of people but there's so many microclimates, so that's, so many different segmentations, mainly in China, whatever you would deem a disadvantage, please understand you have the greatest advantage, which is 90% of things are human, not cultural. 90% of things are human, not cultural. If you're capable of understanding the culture of your consumer and layer the cultural context on top of the human thing that is happening in America, you are halfway home. An unbelievable advantage to be an entrepreneur in this region, and watch things play out, by the way, for free, no report needed, no hiring Boston Consulting or Bain and McKinsey, by reading and watching videos and downloading apps, something that I don't believe most people in this conference are taking full advantage of, or respecting enough of how big of an advantage that is, and to me, very honestly, I'm quite selfish when I speak, I dream in three years from now, you email me, nothing would make me happier than getting an email from somebody here who said they had a $50 million exit, because, you know, they just looked at what was working in America, and they built the replica-ish of it here. Please do that, please understand how big of a deal that is, and I would argue it is your singular biggest advantage in this market to be able to be shown what will work, and then allow you to interpret it, oftentimes with very little change in the model. Cool? Cool. What else is interesting to me? You know what's super interesting to me? LinkedIn. Let me talk about LinkedIn for a second. How many people here are on LinkedIn? Good, this will work. LinkedIn's interesting to me. I think LinkedIn is up to something that I think will be beneficial for a lot of us. First of all, how many people are in B2B marketing? Raise your hands. So, look, raise them higher, because I see a lot of half assed hands, higher. Great, two hands, nice. B2B. I've said this before, I'll say it again, 'cause I'm not sure how many have heard it. Here's how I think about B2B marketing. In every one of our B2B spaces, there's usually a magazine or two that is the leading B2B magazine in our sector, right? There's just a B2B magazine that our customers read. I think that's the thing that you should attack. I think you, as a company and a service, should look at the B2B magazine and deem that your competitor, more than people you compete with to sell contracts to clients, let me explain. It is my belief that everybody in here is no longer an advertiser, but that everybody in here is a media company. So, I know a lot of you have heard me say don't listen to what I'm saying, watch what I'm doing. I don't advertise, I act like a media company, and then from that, I have top of the funnel brand awareness that leads to my business. I don't buy ads on Ad Age, I don't sponsor things that can, I produce content with my points of view, act like a media company, and they funnel into an environment where I built $125 million in revenue in AdWorld without winning a single RFP. Right? So, I don't know what all of you do in your B2B business, but I would look at why people read the B2B magazine, and I would argue that you need to start becoming a media company for the sector, and then trading off of the top of the funnel awareness. Let me explain again. In 2006, this happened to me intuitively. I started a wine show on YouTube less than a year after YouTube was launched. I thought that I was gonna make infomercials. I thought my main plan when there was a camera like that in my office for episode one was I was gonna sit there and sell you wine. Something very interesting happened, if you wanna go on YouTube and watch episode one of Wine Library TV, somewhere in the first three minutes, you can even see my face take a little weird turn, you can see me thinking, because I realized that this would never go away, that this video would live forever, and I realized that if I was shilling wine that I didn't believe in, that I could be exposed. So, somewhere within the first three minutes of me ever producing a piece of content for the internet in my life, I switched from being a salesman to being a media company. I would argue that most of the behavior in the way that you produce content has short term sales DNA versus long term media DNA. And this is the vulnerability of why you're not getting the returns that you're looking for from this environment. So, I would, please, implore a lot of you to realize that I believe one of the first hires of your business in the future is your editor in chief of your business. An actual media editor for a SaaS product, or a consultancy firm, or whatever you do, and so, this media mindset is super fascinating. Let me explain it in an even more historical nature. Do you guys know that the Michelin Tire Company in the early 1900s decided to start writing reviews of hotels and restaurants in the countrysides of Europe because people weren't driving enough and using up the tires and stopping in their gas stations, so they started reviewing restaurants and inns positively if they were further away from London and Paris to get the wealthy to drive out there and stop by their stations and use up their tires, and that is why we, to this day, have restaurants rated three stars Michelin, because the Michelin Tire Company, 100 years ago, executed on my thesis. In the same vein, Guinness beer company, after declining in pubs for the first time around the same time, realized that a lot of people were talking about trivia at the bar, and literally created the Guinness Book of World Records to get you to talk about crazy records and trivia in a pub and use the word Guinness, so that you would subconsciously reorder a Guinness in the pub. This is super interesting to me. I'm a very big believer that the future has all of its seeds in the past. And so, I implore all of you to become much better historians around how to use media as a top of the funnel gateway to sales around your business. Once you understand that, you will find far more success in LinkedIn if you write a white paper that helps lawyers run their business and then it's a gateway drug to what you sell them, than if you were to try to just sell them an ad saying free consultation if you use my firm. Media DNA versus advertising DNA. Media, again, you want distribution in retail stores? Write a white paper on LinkedIn, 15 things that retailers need to do in 2018, brought to you by your brand, I promise you, you'll be stunned by how much inbound opportunity you have in that environment. Media, not advertising. So, those are some of the top of the funnel things that are really on my mind. I continue to execute, I continue to do, I'm very fascinated by how much time people spend dwelling and debating, I think we glorify strategy and we underestimate execution. I feel like if you look historically and rewind the biggest successes, the strategy came from the execution, and you did some Monday morning quarterback, I'm a real genius, in hindsight, because I can manipulate how I got there after the fact. I'm gonna talk about so many things in different ways than the intent that it was at first, because you don't even realize that your strategy came from it, because when you're doing, the strategy is happening in realtime, you almost forget why you were doing it in the first place, and so I promise you, indecisiveness and debate and pontificating and ultimately, ego, is stopping so many people from being successful. And while I'm on that, how many people have more than 10 employees, raise your hand. Great, I think it's worth bringing up. Hiring. I'm super passionate about hiring. How many people have more than 10 employees, raise your hands. I think one of the biggest flaws in most of your companies is your own ego wrapped up in being somebody that's good at hiring. I wanna tell this story, 'cause I think it's one of the most fascinating things happening in small businesses. I'm stunned by how many small businesses, CEOs, founders, or owners think they're good at hiring, and have made this a thing. They've made it a thing 'cause they wrap their pride in hiring, and here's what happens. I feel like my EQ and people skills are off the charts. I am baffled by how many horrible hires I've made in the last 20 years. A lot. So, when I think about my intuition and ability and process and deploy that against the masses, I know a lot of you have made huge amounts of mistakes hiring. I so don't give a crap what you think about me, that I'm very comfortable and excited about admitting that I was wrong and firing very quickly. Most people sit on people for a year or two, because they don't wanna be exposed at making a wrong decision, and in that time, enormous amounts of bad stuff happens to your business. So, and a completely random thing from what I've been talking about, if I can get one person here to fire the person they should be firing in their business right now, after today, I will feel very accomplished on my entire trip to Singapore. Who's got a question? Great. You see that, that was good accuracy. What's your name? - [Man] Melvin. - Melvin. - [Melvin] Yeah, and first off, I would wanna say, Gary, thank you so much, because of what you did, you changed my life. If you remember, slightly earlier this year, you started a contest on TV-- - 2017 Flip Challenge? - [Melvin] No, the GV, GV Podcast Contest. - Yes. - Yes. So, at the point, I'm almost in the U.S., and I knew that by the time that that thing's gonna happen, I will be in New Jersey, New York, so I was hustling really hard to get you to pay attention me, obviously it didn't happen. - Yes. - Yeah, alright, but, but the good part was that what I did was I did exactly what you told me to do, or what you had been saying. So, I had the hashtag, I started tweeting everyone who submitted their entry, and I said, congratulations, I asked them, this is my favorite Gary Vee quote, what's yours, and then I started getting reply. And so, that was when I got a reply, and that was when I restarted my vlogging journey again, so this is the third time I've started my vlogging journey. So, this time when I started my vlogging journey, boom, it happened. People started paying attention, I think you know him, Chris Brogan, pay attention to me, he tweet a lot my videos, he even jump on a call with me to do an interview, so that was great. - That's awesome, he's a good guy. - [Melvin] Yeah, so, first off, I wanted to thank you for ignoring me, because if you hadn't ignored me, I wouldn't have thought of that. - I love it. - [Melvin] Yeah, so that's one. Now, number two is that I think there are three things that we have in common. Number one, we have the same favorite number. - Five. - Number, number two, we have this, we are born in the same month. - Nice, November. - Yeah, alright, so, the other thing is, I wanna say is that, when I started my vlogging again, this time around. - Third time. - I started getting attention, and I started getting discovered, and now companies start calling me, people start calling me and say that can you do videos for me? So, now I'm here today, and I'm devastated. Why, because you are talking about audio. (everyone laughing) Alright? - Yes. - [Melvin] So, my question is, right now, I'm beginning to crush it, if you know this actually, I said to you earlier on Twitter that I'm not coming here because I'm executing on what you say and I'm crushing it, I have no time, but I'm here today because I wanna see you, I wanna say thank you to you. - Thank you. - And so, my question to you, it's basically this. For someone who is really getting traction in terms of video, people started paying attention. - Both. - Well, yeah, yeah, I know. - Both. - [Melvin] But would I be, would I be, so what would the-- - Both. - [Melvin] Strategy be? - Both. - [Melvin] What would the strategy be, what would I do with podcasts? - I don't know. (audience laughing) - Okay. - But let's talk about it. - Okay. - First answer is both. - [Melvin] Okay, obviously. - Now, let me rephrase, it depends on your ambition. First of all, I love going deep on what works. Just 'cause audio's rising doesn't mean video's dead. You know, it's so funny, we've been the same for a very long time. We, as humans, consume content in written form, in audio, and in video. Whether it's TV, newspaper, or radio, or blogs, podcasts, and YouTube, it's the same game. So, nothing's gonna die. If you have real ambition to build a personal brand that you wanna arbitrage opportunities on, my answer is both, because in 16 hours, you can get a lot done. You know, people always say to me, do you sleep, and this and that, Gary's always pushing no sleep, I mean, if you follow me carefully, I talk about six, seven, eight hours, sleep! I'm not worried about you sleeping, I'm worried about what you're doing when you're awake. 16 hours is a lot of time to do damage, and so, what would you do on your podcast? Look what I did at first. I believed in audio about a year and a half ago, I wanted to get in, I was busy, I didn't have the infrastructure I have now, so what did I do? I transcribed the Ask Gary Vee video show into audio, right, then I watched it, it wasn't enough value add, and it was made for video, so it wasn't contextual to audio, so my podcast was not doing as well as it could. Then on vacation, where I had a little time to think, I decided to rebrand it to the Gary Vee Audio Experience, which gave me a lot more flexibility to give you guys original content that you didn't hear anywhere else, keynotes, different things, and it took off. You have to look at yourself of what you're capable of doing, especially when you're a one man band, and I don't know if you have anybody helping you yet. - [Melvin] Not yet, right now. - So, as a one man band, what I would do, is if you're vlogging, every day, I would take 10 minutes of something that you're doing or talking about, not show it in video form, rip the audio, and make that your podcast. - [Melvin] Got it. Thank you. - You're welcome. - Thank you. - Can you pass it on to the next question? Question? Your aim is not where we're the same. (audience laughing) - [Kenneth] Hi, Gary. - [Gary] How are you? - [Kenneth] My name is Kenneth, so. - [Gary] How are you? - [Kenneth] I'm very good, very good, how about you? - [Gary] Super. - Good to see you here, I would like to say a big thank you to you, although I did not follow you for years, but in the past six months, a lot of things have changed. I'm writing a book, it's called Modern Industrialist. I, in fact, emailed you, but I guess I have not hustled enough to email you a lot of times, but because of that, of you ignoring again, I realized that I need to do something, and I took the action of document versus create. Because, for me, I'm a marketer, marketing consultant, I always think of crazy ideas, but, and I don't go into documenting. So what I did is, because of my book, Modern Industrialist, I interviewed 15 mompreneurs that I put into my book that I personally know, and because moms love to share, they start referring mom, other mompreneurs, but I could not put them into the book, and that's where I created my Facebook Live With Lee every Monday, and I document it, document it, and I interview them, and it's growing and growing. So, my question to you is how should I bring it, scale it up from there, and personally, I own a creative marketing company, so how do I put it together? - So, you wanna figure out how to use the leverage of the weekly show to build on top of? - [Kenneth] Yep. - What would you like to happen? Would you like it to be a gateway drug to your creative shop, do you wanna build a SaaS product for mompreneurs? Or do you wanna become a personal brand and live as being the human that makes enough dollars? I think you have a lot of flexibility of what you can do, but this is where you have to start backwards. So, for me, the reason I think I'm winning is, for me, backwards, I'm more interested in my legacy than making money, which is why all of you like me, because I'm trying to win you over by giving you value, not get a short term sale, which is why it's building legacy. So, all my behaviors work backwards. I just gave you in one second three viable options on the back of this, do you have a clear answer to that, or is that something you need to debate? - [Kenneth] I, because there's a lot options that I could do, which I'm working on, but it's not coming back to me as fast, because. - How long have you been doing the live show? - [Kenneth] I'm doing episode 15, so I'm going for my 16 of doing on a weekly basis. - Hold on, one, five? - [Kenneth] One, five, yes, yes. I just started, yeah. So, because of that, yeah. So, I'm going on and on, I'm not stopping, and it's growing, and it's not just locally, it's also into U.S. and a lot of traction, people start referring. - Yeah, it's called Facebook. - Yes. Yeah, so, I'm continuing that, and getting a lot of traction, getting partners coming, and also to sponsor for my book, so that's what I'm working towards, and I would also like what you have mentioned, is to put it as a media, so I'm also attracting partners, companies, to come in, to maybe, like, mompreneurs, they have their own business. - Can I give you a good piece of advice that's good for everybody? - [Kenneth] Yep. - The sooner you monetize, the quicker you give up the leverage. - [Kenneth] The question is how to monetize. - Yeah, I understand. So, and the answer is, I really wish you didn't give a shit about monetizing just yet. So, you know, there's a lot of ways to monetize. You just rattled off several, and I rattled off several. So, I don't think you have an, are you having trouble closing the opportunities? - [Kenneth] I guess the struggle is because I wanna bring up value, I wanna push this mompreneur movement all around, and to drive this, rather than focusing on the monetizing, but monetizing is still our bread and butter. That's why-- - But they're very different things, right? One of the things that really works for me is I don't wanna monetize any of you, I have an agency that works with the top 100 brands, right? So, couldn't you monetize with what you're doing and continue to build equity with the mompreneur community? - [Kenneth] I could do that, just that, I have to speed up, and also. - But why speed up? Dude, you've done 15 episodes. You're four seconds in. What are you trying, where are you going? What's the rush? I mean, that's the punchline. Right? Do you think it's gonna go away, do you think you found some sort of rare, you know, pot at the end of the rainbow that's gonna disappear? I'm asking. - [Kenneth] I feel that's unique, coming from a man, coming from a dad, interviewing mompreneurs. - So, what, are you scared about a bunch of dudes here trying to talk to the mompreneurs? - [Kenneth] No. So, I guess it's to, to find out, to find out what, because I have my own creative marketing company, it's like what you've been doing, VaynerMedia, you're doing your business, at the same time, I feel that being an author, writing my book, interviewing mompreneurs, is kind of like my Superman time, that I get to do all this thing, which I love to do it, but at the same time, I have to be Clark Kent, I have to do all the work and get my bills paid, which is fine, but. - The problem is, you can't monetize Superman to be Superman. You followed? - Yes. - That's the problem. You're trying to sell a logo on Superman's suit, and it's gonna look really stupid. You following, or no? - [Kenneth] Yep. I get it. - The answer is, you don't monetize it. - [Kenneth] Got it. Thanks. - Because, because two things will happen. One, you're still gonna monetize as Clark Kent. I spent, do you watch Daily Vee at all? - [Kenneth] Yes, yes. - You know how I always talk about, like, you're not seeing any of it, 'cause you're not. 13 hours a day that you see nothing of, me in meetings with clients, sometimes I'll do a fast music and, just to show you, just to remind you I'm actually doing, but, I don't think it's super fun content, I think it's a waste of your time to watch me in B roll be in 11 hours of meetings. You know, I'm very good at being Clark Kent, and I have no interest in monetizing Superman, you're trying to monetize Superman, which is gonna be the undoing of both. - [Kenneth] Got it, yep, I understand. - Cool. - Okay. - [Radul] Hey, hi, Gary, my name is Radul. - How are you? - [Radul] Very pleased to be here, and also, I need to start by saying big thank you, because I've been following you for about one year, maybe? - Thank you. - [Radul] But really needed some of those principles. Maybe I read too many bullshit stories of get rich overnight and kind of, I was having that illusion in my brain that it's supposed to be fast, and I think that the top thing that I took from you is that, look, it takes time. - Yeah, it's really interesting, right, because my personality, and I'm sure some of you felt this the first time you saw me, my personality seems so bullshit. (audience laughing) And it's ended up being my biggest strength. Because I have that kind of pizazz that all the bullshit people say it's gonna happen fast have, I'm able to get your attention, and then I trick you into going slow. And then you actually get what you want. - [Radul] Yeah. It works. I guarantee. - Sure does. - [Radul] So, thank you very much for that. My question is, and I'll work through it, 'cause I'm not sure I have it clearly in my head. So, basically, I've been doing headhunting and human resources, executive search, for about four years. - I like it. - [Radul] Very specific to a field, which is supply chain and logistics. - I like that, too. - [Radul] I started a podcast about two or three months ago, which is going really well. - That makes sense. - It's called Leaders in Supply Chain, so I'm trying to do what you-- - Let me tell you why I think that, notice how I said that makes sense, super narrow, you know what's so funny, it's how I think about Singapore. I think having five million citizens is the advantage, not the disadvantage. Everybody's so quick to build here, and then go and do Indonesia and other parts, that you forget that if you win the entire five million market, you have a real business. I love podcasts in, in very narrow, supply chain, are you kidding, nobody, everybody thinks they have to make, like, consumer, the meanwhile is, if you get the right 800 people listening to your, 800, if you get the right 800 people listening to your podcast, your headhunting business is gonna explode. - [Radul] Yeah, and it's starting, but I guess it's just the, so, I think it will need a little bit more time, but it's happening because I'm engaging with really C level people that, 'cause it's also creating that platform that this industry doesn't have, currently. - It also is media, so your ability to email somebody who's the decision maker at a company to be a guest, who nobody would ask to be a guest of anything, and now they become aware of what you do on the side, give Superman away for free, watch Clark Kent make money. - [Radul] Yeah. So, I guess all of this is happening, I think it needs still a bit of time, a lot more time. - Of course. - [Radul] But I guess where I'm, I'm kind of struggling over, I guess what my question is, so, on one side, we are selling headhunting. So, basically, you recruit the best for your business. - I understand. - Which is HR. Then, on the other side, I'm specialist in an industry which is logistics supply chain. So then I'm kind of, 'cause sometimes also people, especially if it's very senior level, so I've been getting with some board levels, but I went on the side of the podcast to them, and then they don't necessarily remember, they remember, okay, that's the podcast guy, they don't remember you as the headhunting guy. - Yep. - [Radul] So, during the podcast, I do the bit on the industry, I do the bit on the HR, how do you recruit your people, and I try to make that connection. So, I guess where I'm struggling with, and I don't know what's the best way moving forward, I think it's gonna work if I keep it to supply chain and logistics, I'm also considering, shall I keep it to Asia, so, expanded, and saying, doing business in Asia, to make it a little bit broader. - I mean, you mean the show? - [Radul] Yeah. And also the business, then I can also, I can then bring the headhunting business to expand, as well. - Do you feel like your business is ready to do that? - [Radul] I don't know. - Yeah, I feel like it isn't. - [Radul] Yeah, probably not, yeah. - Right. (audience laughing) You see what's happening, right? It's the same reasoning, like, the get, quick, fast, it's his question, guys, it's the same shit. It's everybody, it's the same game over and over and over. I get it, and even when you have some level of success, it's hard, I get it. I get it. I live it. I have way more opportunity than you could ever wrap your head around. But I stay disciplined on what I can do. Why didn't, we've been registered to do business in Singapore for three years. Why is VaynerMedia not here, we weren't ready. Was my brand ready, yes. Would we get business, yes. Would it deliver at the level that I thought I needed to to create 20 year success, no. You're on to something, and this is what happens to a lot of businesses, I look at it everyday. You're on to something, and now you're tasting blood in the water and you're getting greedy. Because you see it, and especially if you're hearing it from something like this, and you're like, wait a minute, this is gonna, you know, like, you're compounding your confidence, which is making you go wide when you should be going deeper. - Thank you. - You're welcome. - Hello? - Hello. - [Moshad] Hi, hi Gary, my name is Moshad, and like what you said, 80% of your content today is more or less on YouTube, that's that 30% I kind of absorb, I actually collected this box for my mom, but firstly, I wanna tell you, I'm actually gonna quit my job to do something like DRock or Word of Mouth Marketing Company, but before I pass this on to my mom, is that your new K-Swiss shoes, that's my question. - These are my new K-Swiss shoes. - [Moshad] Alright, awesome, awesome, awesome, thanks. - [Camillia] Hi, Gary, I'm Camillia. - Hey, Camillia. - My son got me onto you. I didn't even know you were around. - Thanks a lot, Camillia. (audience laughing) I'm kidding. - Sorry about that. Well, I. - Good news, 99% of people don't, so, go ahead. - [Camillia] It's okay, the word is getting around. - They will. - Right. I'm a WOMologist, and a lot of people ask me what I do, I'm actually a specialist in word of mouth marketing. - Word of mouth. - [Camillia] Word of mouth, offline, because I'm not an online person. I've never been, and, but he's gonna get me on it because of you, okay, so, thank you for that. - Thank you. - [Camillia] But, what do you call it, it has always been a stigma that for many entrepreneurs that word of mouth marketing is a very weak activity, and yet, a lot of, what do you call it, material says that it is the most powerful form of marketing, and I took it on. For the last four years, I did research, I started a business group for it, and I found out why it was the most powerful. But my question to you would be where do you see it in the next three to five years? How does, how would it grow, how would it evolve? Word of mouth marketing in the market, especially for entrepreneurs. - So, word of mouth marketing is what social media is. - [Camillia] Right. - All that social media is, is the plumbing and infrastructure that has created word of mouth marketing to hit the scale that it's always had in the invisible nature of the conversations that we have with each other in real life. So, even my first book that put me on to the world, Crush It!, that I wrote in 2008, most of it refers to word of mouth, and then the book I wrote in 2011, Thank You Economy, is basically just about word of mouth marketing. It's about being extraordinary to force word of mouth marketing. I believe nothing sells product and services more than another human being to another human being. Where it lives, I think will continue to go into this device, not us talking, and I think that's great. I think too many people want us to talk to each other, so I find platforms fascinating. I find it fascinating that we put a pen and paper, somebody writing a letter, today, as this incredibly great gesture, even though we do it on here all the time. We're putting pen and paper on a pedestal, not the words that we're exchanging with each other. And so, I think word of mouth marketing is basically the old school term for social media. I'm a buyer, to the end of time. Until the robots kill us, I'm a fan. (Camillia laughing) - [Camillia] Thank you, Gary. - You're welcome. - Thank you. (Gary laughing) - Nice pass. How are you? - Hi, how are you? Okay, I have this question, okay, first of all, I've been following you for a few years now, I think back from 2014, and you completely changed my life, and how I operated my business. It was really tiny back then, but we managed to have really healthy growth year after year, thanks to you. - Thank you, thanks to you. - [Woman] And the question is, we're at a point where we're in that crossroad where we have to decide where we want to either grow organically, or we also have the option to grow rapidly, as well, because we have interest. - And if you grow rapidly, you have to take investment? - [Woman] Yeah, because we have interested parties wanting to offer that to us, as well, and. - Do you own the business? - Yes. - 100%? - [Woman] So, that's the thing. I'm, I just wanted to hear your take in that, like, if you have options to grow. - Do you own the business 100%? - [Woman] Yes. - Do you wanna have a boss? - [Woman] Not, it depends, it depends on the angle, because I do have a certain angle that I want to get to, so I'm just, I just wanted to hear your take in this of, do you, how do you feel about growing consistently, organically, on your own, but it'll take really long time, and somebody else might come in and take away the opportunity, and. - Do you believe that? - [Woman] You never know. I feel like I have a certain value to offer, and there's nothing like it at this point, so I feel like I have that certain value, and I have that following, I have the trust and the loyal of our customers, as well. - If you can raise capital to speed up your process and to create bigger distance between somebody copying you, that's meaningful, and you don't give up control, it's a worthwhile debate. 80% of 100 million's better than 100% of 40 million from a dollar standpoint. Just don't think that just 'cause you sold off 20% of your company doesn't mean that you're not gonna be held accountable. Let me give you an example. When AJ and I sold a piece of VaynerMedia to Stephen Ross, one of the things that I made required is that I never had to have a meeting to tell them how the business was doing. - [Woman] Alright. - You like that? - [Audience] Yeah! - It's a good one, right? Now, he was worth eight billion dollars, so he could give a crap ass. You need to make sure, whether you sell 1%, you could sell 1% of your company, and that investor might take up a disproportionate amount of your time. The biggest issue is time when you sell a piece of your company. Do you really wanna prep for an entire week every 90 days for an investor meeting so you can justify your behavior? - [Woman] Yeah, but the thing is, I'm quite keen on taking that offer, because it's much more of a strategy partnership that will bring up value to me. - So let's talk about that for a minute. Is it a human or is it a company? - [Woman] Both. Because, it's a company, yeah. - Is the human that you're excited about being a strategic value prop to you an employee of the company or owns the company? - [Woman] Owns the company. - Okay. So you feel you'll get value from this individual? - [Woman] Yeah, both sides, because they wanted to invest because they wanted to have us under their property as well. - Sure. - 'Cause that could bring certain value to them, as well, so that's why they want it, so. - Of course. - Yeah. - How, I mean, you know, as you can see, as we're digging, there's no right answer to this question. - [Woman] Yeah, there's no right at all, yeah. - I think the question becomes how comfortable you feel with them. I think you need to make sure you over talk expectations. Young entrepreneurs often make the mistake of only seeing the good side of an investment. And there's, nobody's giving you lots of money 'cause they think you're awesome. And so, you just need to be thoughtful. The amount of people that I've seen raise capital when they didn't need to and it destroyed their business, is more than I'd like to say. At the same token, there's a ton of people who would have failed and gone out of business without a strategic investment, and then it turned into a huge success. Here's what I would say. Everything that's in your stomach that you wanna ask and talk about, do it before you sign that contract. That's the mistake. You sit on two or three things that you just think will work themselves out, bring them to the forefront. - Okay. - Make sense? - Yeah, it makes sense. - I'm sure there's one to two things that are in your head. - [Woman] Yeah, a few things, like you were saying there's no right or wrong, it's just, I have a certain angle that I wanted to get to, and. - What does angle mean? Dollar amount? - [Woman] No, no, no. It's in, itself, the impact of the company that I wanted to, because the kind of impact I wanted to get, I wanted to have that certain impact, the level that I wanted to have it, I need a partner. And that's what. - Can I ask you a question? - Yeah. - The impact that you want the company to have, could you get to that impact 11 years from now? - [Woman] Yeah. - So, then you have to ask yourself, are you trying to get to the impact sooner, and you're putting that as a romantic point of view in your head, and are you giving up too much to get there sooner, because it's just one bigger version of patience, this is why I'm pounding patience down people's throats. And more importantly, is this impact real, or is it manifested in your head as a romantic thing, you know, you gotta think about those things. - [Woman] No, it's real, because the thing is, with our company, we're super engaged, because, customers and our followers, they don't see us as brands, they see us as a friend. So, that's how we built, like. - Be careful, because, at scale, that tends to go away. - Yeah, I get that, yeah. That's the thing, we have to have a certain balance somewhat, yeah, as we scale. - That was probably the thing that scared me the most, because, if that's how your consumers feel, it's almost impossible for somebody investing in you to being comfortable with you doing the behavior that makes that 100% pure. They are thinking about the scale of that, which then dilutes the energy of that. - [Woman] It's not my voice, it's the company's voice. So, they don't see the brand as a person, it's just, they feel like-- - I understand. - Yeah, yeah. - I understand. - [Woman] When they see the, like, the people that runs this company has a certain value that they resonate to, so, yeah. - Let me ask one last question, and we'll move on. Does the investor have any say after the transaction? - [Woman] No, not really. - Good, then do it. - [Woman] Yeah, alright. (audience laughing) - But just make sure you define the not really part. - [Woman] Yeah, because, no, because they do have a certain, they, based on the conversations that we have, they do wanted to offer advice, try to bring up a certain value for us, but, Gary Vee, ultimately, it's still my decision, 'cause that's what they, they told. - Ownership. - Yeah. - Good luck. - Thank you so much. - You're welcome. Did we lose it? There we go. - [Shawn] Hi, Gary. - How are you? - [Shawn] I'm good, I'm good, and yourself? Okay, I'm Shawn, I'm a digital marketer from Malaysia. First off, I took your advice, and I started vlogging not too long ago, and I'm already seeing work, doors that I could never imagine are starting to open for me, and I only have you to thank you for that. I have a two part question, first, my father owns a traditional billboard business with about 1,000 sites, mostly along the highway. I'm persuading him to invest into it digitally, I don't work for his business yet, but I assume I will in the future. Given your expertise, if we became partners today in this business, how would you focus your resources, and what would you, what would your first steps be? - What kind of business is it? - [Shawn] A traditional billboard business. - Traditional what? - Billboard. - Billboard. - Yeah. - So, your dad owns billboards. - [Shawn] Yes, 1,000 sites along the highway. - Which is rad, is it, are they digital? - [Shawn] No. It's too early. - So, I would probably make the capital invest, if I took over my dad's business or became his partner, I'd probably take the capital risk up front to take them digital, 'cause I think that's gonna be required to get the value out of that outdoor. I would also look to diversify, 'cause I'd be too fearful, you're a young dude, I'm too fearful about self-driving cars and all the things that happen over the next 20, 30 years that would disproportionately decrease the value of the asset that you have. So, my intuition is that I would diversify, I would either sell off half the boards and then put it into building a media company, or I would reinvest all the profits each year into building some sort of digital complement to a traditional product like that. - [Shawn] Okay, got it. The second part to the question is as an extension to my vlogging, I plan to start a series of interview videos of podcast sessions with people within the same field to talk about what they do, and I was wondering, this is, starting my luck here, would be my first guest to officiate this? - So, I won't, but. - [Shawn] Ouch, see, that hurts. - But, if you do 15 episodes, I'll be your 16th. - [Shawn] Okay. I already have 22. - What's that? - [Shawn] I started my vlog, like, 22 episodes, but I will start 15 interviews after that, and you'll be my 16th? - You've done 22 vlog episodes. - [Shawn] Vlogs. - But if I was listening carefully, you asked me to be a guest on your new podcast. - [Shawn] Right, okay, got it. - So, that, I'll wait 'til I'm the 16th. - [Shawn] Got it, thank you very much. - You're welcome. - Hello? - Hello. - [Terrance] Yeah, hi, Gary, my name is Terrance, and I'm 20 this year. So, just one question for you, I've been listening to you for about a year now, and I'm just trying to figure out, as a 20 year old without any experience in my parents' business, I've wanted to build a video, a blog, an audio podcast, but I don't have the experience to actually do it. So, which answer should I focus on, building up the experience in a business, or should I go direct to help market a company? - Well, listen, if you started a podcast and a video blog about being experienced in the craft, that would be bad, faking it. But if your podcast was about the experience of learning the craft, you'd probably have a lot of 20 year olds following you. So, I don't think it's about getting the experience, when I talk about I built a business for 15 years before I came out, right? I say that because that's what happened, but I have a funny feeling if the internet was around when I was a kid, like this, I might have started documenting my journey right away. I just wouldn't be walking around like I was a business building guy, I would be talking about being a young, ambitious guy who used to sell baseball cards and now I'm about to do it for wine, and I would take people along with my journey, that's my biggest problem with people that don't have experience, they're lying. They're lying that they're business experts, or my favorite, you're a 20 year old life coach. 'Cause, you know, you've lived life. So, to me, I think you can start the podcast and the video blog, I mean, I wish I did that, because I, there was, I probably cried, cried, 50 times in the first 10 years that I worked with my dad, 'cause they were very painful fights. And that would have been incredible content that I wish you guys could watch if you're in a family business, because it turned out okay, and it would have been really cool to see how that happened and why, and how I was able to give more than I took, and how I loved my dad more than the money, and how I thought about what I could do in my 30s and 40s and it's okay to lose in my 20s, but I wouldn't have walked around and said I was a marketing genius because I thought I was gonna be. - [Terrance] Yeah. So, start documenting my journey to becoming a businessman? - Hell yeah. - [Terrance] Got it. - If you think that's interesting. Maybe you're not comfortable enough in your own skin to talk about all the failures, which is the most interesting part of documenting being a 20 year old businessman. But if you are, there's some people that are gonna listen. The truth always wins, my friend. That's all you need to know. - [Terrance] Alright. Can I get a hug? - A hug? - Yeah. - Sure! - [Terrance] Awesome! (everyone cheering) - [Gary] Are we gonna take a picture of the hug? (audience laughing) - Let's start a vlog now, okay. So, my journey to becoming a businessman. - He's liar, he said he was gonna do a hug, and now he's doing a vlog. - Okay, okay, I'm sorry! (audience laughing) Thank you so much, Gary. - You're welcome, you're welcome. Alright, after this question, let's send it over there, 'cause they're about to start a coup. Go ahead. - [Man] Thank you, Gary, I flew in from Malaysia to see you. - Thank you. - Okay. So, okay, I am a little bit of confused right now in our business, because, we're in the hosting business. - Hosting? - Yes. - Hosting websites. - Not only websites. - Right. - But several hosting. - Understood. - [Man] Kind of services. So, when we are saying, because Google, Amazon, IBM, all the big giant out there, and when you're saying marketing budget, we can't compete. - No way. - And if we can't afford the content, the blogs, the video, they are everywhere, so, do you have any advice for this? - Well, who, who's using you now? - [Man] Okay. What we are doing is-- - How many customers do you have? - [Man] Okay, about 500. - Okay, great, so we have a great situation here. The first thing that, if I was your new partner, and I was brought in to do the marketing as the partner, the first thing I would do is figure out why those 500 people are using us, and then that would be the content that I would distribute. Don't ever mistake money as a competitive advantage. Because plenty of big companies throw money directly in the trash. So, there's a reason 500 people are using you. Now, it may be that you're very good at DR and intent based marketing and you're winning on Google AdWords, I don't know, then, after I figure out why you have 500 customers, then I would ask you the next question, which is, how long have you been in business? - [Man] About five years. - Great, and how many customers do you have that have been with you for three years or more? - [Man] I do not have the exact numbers, but I guess it's somewhere about 50. - Great, then I would survey them. And listen, they may stay with you because it's passive, once you're on a server, you don't wanna mess it, but I would look for the insight. Is it the homegrown, you know, high touch, small, I don't know, but once I understood why people were coming to us and staying with us, I would make all my communication around that. I'm never worried about who's got more money. When I had a liquor store doing three million dollars a year, 10% gross profit, 300,000 before expenses, my marketing budget in year one was $14,000. For the year. And https://www.wine.com, the first version, raised $130 million. The amount of days that I spent worry about them was this. Fuck Google. - [Man] (laughing) Okay. So, essentially what you're saying is when I'm going to look into the insights, and the next step, still content marketing, is it? - Content always, so, are you doing conversion based, like, is that how you're getting your customers? - [Man] Okay, we are just ranked organically on Google, and recently, we started blogging. So, that's what we are really doing, is a little bit of Google AdWords and Facebook marketing, but they don't really work so well for us. - Have you done Facebook ads against employees of companies that you wanna get on? - [Man] Sorry, I don't get that meaning. - When you run a Facebook ad, you have to target it. It's not putting a piece of content and hitting boost, that's 17 years ago. It's making a piece of content and targeting who you wanna reach. Do you do the marketing? - [Man] Yes, I'm the one who, doing it, yeah. - Good. So, when you've done Facebook, you said it doesn't work for you. When you post it, are you running ads against the content? - [Man] No, we do it directly to the landing page. - I understand, but when you post it in Facebook, are you just posting it organically to the 30 fans you have? - [Man] No, we run ads, certainly. - Good, who are you targeting? - [Man] Okay, we figure out who are our customers, so, okay, one of the major customer is the Forex Trader. - Is the what? - Forex Trader. - Okay. - Because they run robots. Okay, they use our service, so, we target exactly what that ad interest are, the Forex signal, the MetaTrader 4, those kind of thing, but they-- - Have you, have you, have you done influencer marketing on Instagram since so many of those Forex people wanna build personal brands? - [Man] That's the next step I'm going to do, after listening what. - You should definitely pay all these characters that think they're building a personal brand in Forex, and I would do sponsorships with them as human beings. It's gonna work. - [Man] Okay. - Good. - Alright, thank you. - You got it. (audience applauding) Pass it over there, okay, this guy stole it. He broke the rule. - [Yurt] I, I've actually tried to contact DRock and the whole thing, Gary Vee, and of course I know that you're coming, but I volunteered to actually be the personal Uber and tour guide to tour you around Singapore, but I didn't get a reply, similarly to audience before. - DRock's a really bad guy. - [Yurt] But Ben actually replied to me, but he said no, but it's okay, but I still rented a car, and I'm with the rented car today. So, I have a few questions. So, I'm actually a content creator, my name's Yurt, so, I've met many businesses, especially in the FM BIM industry, that still don't understand the importance of social media. I know it's a simple no brainer to many people here, but, can I ask you, what will you tell them, in a one minute kind of pitch to tell them the importance of-- - Let me give you a good piece of advice. - [Yurt] Thank you. - Never sell the unsellable. I would tell them that it works better than anything in the world, and then if that took more than a couple of minutes, I would go knock on the next door. The biggest problem is, guys and gals like you and I, we get caught up in trying to convince somebody. I've never spent a minute trying to convince somebody of anything. We're in a place where a lot of people still don't know that this works, or they ran one Facebook ad and it didn't work, and now they've decided Facebook doesn't work. My answer is I don't. I don't try to convince people. I tell them it works, I tell them millions of businesses have made it work for them, and then I hope that they're interested in, if you, are you trying to get people as clients? - Yep. - Good. There's unlimited clients. - [Yurt] Got it. - So, what too many people do is they dwell, and they try to convince nine clients, and that would have taken up the time for them to ask for 500 other people if they were interested, and they would have landed four clients while they're waiting to get nine of them to still debate with them on their fourth meeting, trying to convince them. Got it? - Got it. And can I have one more request, I actually bought one of your Jab, Jab, Jab, Right-Hook, can I get a signature from you right now? - You can if you pass it over to that section. (audience laughing) Anybody in that section. - [Yurt] Pass it to them and come forward? - Correct. - Awesome. - Hello. Go ahead, it'll start working. Go ahead. - [Woman] Yeah, I have a professional service firm. I'm doing B2B market research, I started interest in researching in TALON, and then I expand into Indonesia in 2015. - Hold on one second, go ahead. - [Woman] And now it's time for me to expand my business again. But because I'm in the professional services, when I have to expand my business, I also have to add accounts. And I actually prioritized two options for me right now. The first option for me is to expand into Vietnam, and the second option is to, you are pay, okay, the second option is to start a tech startup. - What? - [Woman] A tech startup. - Why is that your second option? - [Woman] Because I think it's a big opportunity, and it's the area that many clients are focused, it's the pinpoint, and nobody has actually looked into that. - Okay, if you start the tech company, are you gonna bring in a tech co-founder? - [Woman] Yes. - And give them 50% of the business? - [Woman] No. - Okay, so let me tell you the most fascinating thing when people decide to go from something linear to a tech company. They wanna do a tech company, and usually they hire somebody to build the tech, 'cause they don't wanna give up any of the equity. This is the number one mistake that entrepreneurs make when they go into the tech business. They hire a firm because they don't wanna give up equity, but when you're in the tech business, you're in the tech business, and you better have a real tech partner, and unless your tech partner has minimumly 20%, up to 50%, they're not gonna care enough, and you also have to understand that they have disproportionate leverage, because they're the tech co-founder in a tech company. - [Woman] You mean if I have to give them half of the shares to make it work? - I would tell you that you don't have to, but I have seen an unbelievable amount call it, now, maybe 5,000 businesses in the last 10 years that have gone from I do this, but now I'm gonna do this tech product, 'cause I see the pain in my business, I'm gonna hire this little firm to build my app or product, or I'm gonna have a CTO, but I'm gonna pay her or him and I'm not gonna give them equity, and what most people don't understand when they go into the tech business and build a tech product, they're at the mercy of the tech. Tech is great on paper. It's a very different business when you're actually in it. So I just wanna make sure, and the reason I'm going down this path, is I wanna make sure that you realize that if you're going in the tech business, you're gonna lose the leverage. Unless you're a developer. Does that make sense? - [Woman] So, as a professional service company, is there any other option to scale the business? - Yeah, so, I think if you're gonna build a tech platform, that's a great way to scale the business, I just wanna make sure you're going in eyes wide open, that you're going into a totally different business. Building a tech platform in any professional service is completely different than being in the professional service business. Right, having an agency that builds websites for clients is very different than starting WordPress. So, I'm cool with it, as long as you really know what you're going into, and I've just seen too many people lose their first business by trying to build a scalable business, when they have no idea what they're actually going into. And I'm just trying to make sure you wrapped your head around, I'm now in the tech business, servicing the professional service industry that I know well, which means that you do not have the leverage anymore, the architect and executor of the tech does, 'cause what if they build something for a year or two and then they leave? Like, it's very important you get there. Or, you go into another market, right? Which is more of what you know, other than you have to contextualize the market that you're now in. Both are viable, just don't be naive about the first one, because most people are. - [Woman] Yeah, but it had been something in my mind for so long time, I wanted to do it so many times, and I actually went to a master degree in big data analytics to learn how to code, so that I could start it. - That helps. - [Woman] It helps, it's actually give me a very good connection the right tech guys that I should. - [Gary] I love that. - [Woman] I should partner with them. - [Gary] Okay, so let's go back to the open, now that I have that data, you're debating between expansion to a new market or building the product? - [Woman] Right. - [Gary] And it seems like if you don't build the product, you'll always regret it? - [Woman] Yes. - [Gary] So, let me give you a good piece of advice. I'd rather you be broke than be regretful. - [Woman] I don't want to regret. I just wanna do it. It's like, no matter what, no lie, my choice already go to, like, building a tech product, I already make decision, I just wanted to hear what other people would think about, because. - [Gary] Why? - [Woman] Because, it's like. - [Gary] Who gives a shit about my opinion? You've already made the decision. - [Woman] Yeah, but at least you can give me a good perspective on which I should be careful about. - [Gary] I'll give you a good perspective, I 100% believe in building the tech product. - [Woman] Okay, you just confirmed my decision, thank you so much. (audience laughing) - [Woman] First things first, thank you very much, Gary Vee. You really, really changed my life. The first time I actually saw your video was the 5 Minute Plea To Do. Prior to that, I've been giving myself a lot of excuses for failing and for not taking action and for procrastinating, but after I saw that video, I went 100%, 200% into just focusing on doing. Now, my question is, as a freelance digital marketer, I face this challenge of getting a lot of information, and having to keep myself up to date on what's happening on each and every one of the platform in order to deliver a lot of value to my customers, and so on. So, how do you actually do that, how do you stay on top of things, and yet, deliver value? - By working a lot. (audience laughing) - [Woman] So, how do you manage that, within 24 hours a day, how do you split your time, do you organize, do you systemize, what do you do? - I'm definitely not organized. I, this is the biggest reason I built my personal brand, the number one reason, to stay being a practitioner. I don't have the luxury of reading a headline about Instagram Stories or Snapchat filters or Facebook Live without using it, because I have too much to gain on that side, so it's a self-fulfilling prophecy, right? I built my brand by being a practitioner, which makes me a better strategist, which makes VaynerMedia better, and it just keeps feeding each other. So, A, have you started building your own profile, are you interested in that, or no? - [Woman] Yes, I am. - That would be my biggest advice. Every time you see something new, make sure you build a profile on everything, and then every time you hear a new feature, use it immediately, which will then systematically make you a very good strategist. You know, and then the other thing I would tell you, is don't beat yourself up. You need time for your family, you need vacation time, you don't have to hustle like Gary Vee, don't beat yourself up. Do the best you can. I don't know everything about everything. I probably know a lot more about a lot of this stuff than most people, but you don't have to be everything to everything, you just have to be better than the next girl. Do you know what I mean? What people make a huge mistake about is they create a fake standard in their head. The way to win in business is the same way to win in sports. You just have to be a little bit faster than the other guy. Right, I don't have to be 100% on 100% on everything, I just have to be a better alternative for the same money than somebody else. So, I would tell you to be very, and then you gotta think about how much deal flow you have, how satisfied you are, I think the biggest thing is that people beat themselves up, they hold themselves to some fake standard, just make sure you're being reasonable with yourself. - [Woman] Alright, thank you. - You're welcome. - [Man] How's this, sir? Gary, how's it going? - Super well. - [Man] Awesome, thank you for being here. So, quick question for you. With our brand, we have a, we run luxury fitness gyms and beauty clinics, and we're fortunate enough to have a pretty big budget, our budget for digital marketing is about $100,000 a month, so it allows us to test a lot, right? My question for you is, ultimately, we're trying to drive sales and revenue, right? - How much, how many, how much of the 100,000 is being done on bottom of the funnel transactional membership versus brand? - Are you ready? - Yes. - [Man] All of it! - That's the problem. (audience laughing) No, that's the problem. - No, no, no, I agree with you, too, that's where I'm going, so. - I figured. - [Man] We have about, a cost of revenue KPI of 10%, meaning, if we spend 10 grand, we make 100 grand, which is reasonably efficient, my question is, we're in agreement, our company, that we have to spend more on top of the funnel, and we do have a lot of KOLs, we do have a PR network, we have celebrity ambassadors and stuff like that. - Can I give you the answer to what you're looking for? - [Man] Yes. - Make the 80 cents on the dollar work like the last 100 cents on the dollar, so that you have no risk on the 20 cents of a dollar to do the high risk, high reward activity that you need to take it to the next level. The answer always in this situation, is taking a step back and scrutinizing your own ability to go on the real DR focused dollars to cut 20 cents off the top, and make the 80 cents work like the prior dollar worked, and then you're basically in no risk, high reward zone, and then you cruise. So, it's not mindlessly saying, okay, we're gonna take this framework, it's about becoming way better at the thing that got you here to give you the error cover to the take the risks that will get you to the next place. - [Man] So, what you're saying is, for short term loss on conversions and revenue for long term brand building and more top of the funnel then, right? - No, what I'm saying is don't lose any short term sales conversion, just get 20% better at that, so that you have the 20% to play with. - [Man] So, reallocate the other 20% once we're able to grow for more top of the funnel. - Correct, take 20 cents on the dollar, and spend 20,000 a month making a video that is your Dollar Shave Club, that could then take your CAC on your DR stuff way down, because you've built a brand, but still make your 80 cents on the dollar convert at the 10X, now it has to be 12X, to make the old numbers work, then there's no pressure from your CFO, your ambassadors, or your CEO, because now you've bought yourself the freedom to take risks, because you made the 80 cents act like the former dollar. - [Man] Cool, thank you. One more question, can I get a selfie with you? - Yep. - [Man] Alright, here we go. And who am I giving this to? - Whoever you decide to. - [Man] I'm gonna be biased and give it to our account manager on Facebook. - That was very inside baseball. - [Man] Former account manager, actually. - Hey, man. - [Vlad] Hey, Gary, I'm Vlad. - Hey, Vlad. - [Vlad] Thanks a lot for being in Singapore, it's awesome to have you here. My question is, so, you've been spending quite a bit of time in Asia lately, Hong Kong, Singapore, so, in your opinion, where does the next wave of media and tech innovation come from? Does it come from Asia, a lot of people say, say a lot about China, does it come from the U.S. still, somewhere else, where do you see the world going in this respect? - Can I ask you a question? - [Vlad] Yeah. - If, whatever the answer is, what are you trying, let me go a little bit, the answer is from everywhere. You know, I don't know, I'm fascinated by the stardom of entrepreneurship, and what it means, for example, I'm fascinated with this dream I keep having, that there's some 13 year old girl in India right now that so looks up to Elon Musk that she's gonna do something so crazy, and I'm so pumped about that, that's so incredible, right? Anyway, the answer is everywhere. The places that it's conducive to happen is mainly America, mainly mainland China, a little bit of Europe, a little bit of southeast Asia, a tiny bit of South America, so it's gonna be kind of a lot of the same players, because of the financial impacts, the entrepreneurial branding within those ecosystems, the macro and micro economic scenarios, there's a lot of different things that are happening. But I think the more interesting question for me is why are you asking? - [Vlad] Gotcha, so, I guess for those of us who build our businesses it's important to know where to focus on, do you focus on the U.S. market, do you focus on the China market? For those of us who are employees and have careers, where do you build your career towards, to U.S., to China. - I see. So, look, I think they're two very different, if we're talking about the two kind of superpowers, they're both very different, and both very similar. They have a lot of things going for them, and they have plenty of shortcomings behind the scenes, right, and for America now, in front of the scenes, right? So, I think, I think the thing that you need to debate is what feels more natural to you as a human. What are you more comfortable with? Are you more comfortable with an aging superpower empire that is more purebred capitalist, but is at maybe somewhere between the third or fourth quarter of its empire years, or are you more interested in China, which is in the beginning of its empire run, but has, your name's Vlad? - Yeah. - You know, it's very hard for guys named Genazi and Vlad to completely be super comfortable with any level of communism, even if it's disguised as capitalism, right? - Yep. So, you just have to make a decision for yourself, as a human, my parents, I've never been back to the Soviet Union, because there's such negative feelings for what went down there for my family, that I would never, I don't feel, even though, so, I think China runs its country like most successful businesses. Some mix of capitalism, and when needed, dictatorship. VaynerMedia is far more similar to China than it is to the United States. As for the human question, you just have to ask yourself where you'd rather live. Both are gonna be just fine by the time you die. (audience laughing) - [Vlad] Gotcha, thanks a lot. - You got it. (audience members yelling) (Gary laughing) - [Harry] I finally caught one. Hey, Gary. - How are you? - [Harry] I'm good, thank you, I'm Harry. We're from Malaysia. We're actually aesthetic company. - A static? - Aesthetic. Like, beauty clinic. - Got it, got it. - [Harry] We've been running the business for four years. For the past three years, we've been using traditional marketing, and this year-- - What do you defer, what you consider traditional marketing, direct mail? - [Harry] Like, word of mouth, brochures, agents, and this year, we're starting to get into digital marketing. - And what do you call digital? Social or Google or banner or programmatic or what? - [Harry] We are actually trying to go into Google, YouTubes, SEO, and social media at once. Right now, we're actually working on it, with where we sell knowledge about it, and I have these questions for you, I would like to get some advice from you on how can we podcast our thing. - Podcast? - Podcast, like, any advice on the trends on podcasts. - And so, you want a podcast, why? - [Harry] Like, a video. - But why do you wanna do it? - [Harry] Well, we wanted to, like, showcase to our consumer. - What you're doing? - [Harry] Yeah, what we're doing, and to make them understand better than what we've been trying to do, back demand. - Okay, so the first thing is, the way you've been doing marketing traditionally, is far more sales oriented. You've had an agent resell, you've done brochures, you're doing selling. A podcast is the furthest thing from selling that I know. It's over here, it's called branding. Sellers, for four years or three years, hate branding. You know why? It costs money up front, and nothing good happens. For the first year. So, first and foremost, I wanna make sure that you know what you're getting yourself into, which is, if you start a podcast, it's gonna take up a lot of time, it's gonna cost some money, and very little is gonna happen in the first year. So, somewhere around nine months after you start your podcast, you two are gonna look at each other and say, Gary Vee is an asshole. (Harry laughing) As long as you know that, then I'm excited for you to do a podcast, because that over time branding, if you do and execute a good podcast, will have very big effects, but before you jump into podcasts, since you've never even done digital marketing, I don't want you to go too far out and just do it because I said audio's good, I want you to be grounded in what you're doing and how. You're such a heavy sales organization, that I wanna make sure that you know what you're going into, do I think the sales on digital can do better than your brochures, 100%. Do I think the agents are reselling right and referring? I would triple down on that, 'cause that's always a good sales engine. Right, yes, they get a piece of the pie, but they're basically a workforce, right? But I would get really good at Facebook conversion ads, and very good at SCO, and mainly SCM, to be honest, more than SCO, but before you begin to really be committed to podcasts, now, if you've got the money to do all of it, and you're okay with wasting money and time and year one on the podcast to have a little bit more opportunity in year two, then that's great, but you have to be smart, and think about it from a practical standpoint, not an ideological standpoint. - [Harry] I have another question. - Sure. - [Harry] Well, we're trying to figure out our budget into digital marketing into. - As much as you can afford. - [Harry] As much as we can afford. Should we spend it equally in Google? - You should spend 50% of it up front, tasting everything and then double down on what's working. So, if you're gonna spend 100,000, spend 50,000 in the first three, four months, try a lot of different things, and become good at understanding what's happening, and then double down. - [Harry] Do you think it's recommended if we use YouTube as a channel to do the conversion rate, do you think it's possible using YouTube to, for convert? - Sure. I mean, of course, but it's difficult. Now, there is a product that you should look at. There's a way to target people with a YouTube pre-roll video, that is based on what they searched on Google. I think it's an incredible product for all of you. Google, YouTube has a pre-roll video product that you can target against what people are searching for on Google. So, as you can imagine, if I'm searching on Google how to drink wine, or wine things, even if I go to YouTube and watch Jets football videos, it's gonna service me wine ads up front. If somebody's on Google searching beauty or spas or the words you know, your video, even if they're watching kitten videos on YouTube, being a pre-roll is gonna convert better. This is what I mean about being a practitioner versus a headline reader. Gotta know these nuances to be successful. - [Harry] Can I have a last request? We would like to have a wefie. Is it possible? - A what? - [Harry] A wefie. - A wefie, like, we, in a selfie? - We, together, yes. - Yes, okay, that sounds cool. Bring the mic up, oh, you're gonna ask a question? Then I'm gonna have you bring it up. Anybody over there want, okay. Go ahead. Yeah, we can do it now. - [Elkar] Okay, so, first thing that I want to say, is a big thank you. - Thank you. - [Elkar] So, for everything that you've been doing, the content that you've been putting out, so inspirational that first thing to express on this, this exchange is gratitude. - Thank you, brother. What's your name? - [Elkar] My name is Elkar, I'm from Brazil with business here in Singapore. - [Gary] I'm listening. - [Elkar] Okay, so, we're running a VR startup here in Singapore. - Okay. - B2B. - Okay, good. - [Elkar] And it focus on the luxury market, and as you may know, VR is so in the early stages, and we don't have, even in the world or U.S., big success cases, large scale, that can make sales a little bit challenging. If you're doing, we're doing well, we just want to see if you have any thoughts to say. - I do, I have some real thoughts on B2B VR. I'm very much a big fan of you tying your business very close to experiential and event marketing. The place where you can find budget is when brands and businesses are activating in real life at big events where VR experiences are the draw for them to get people to come to their booth or their exposition or their, it is the only place that I think is really viable in a B2B environment for VR. - [Elkar] So, that's where we're going, because we're selling boats, yachts, so, the big advantage point is boat shows, so there's a place for us to, so we try, we've been in Europe, like to talk to. - Or, or, to be a little more creative, as well, just high luxury, high affluent areas where you can do activations. Art Basel is a place where a brand or company may wanna activate a VR yacht experience, just because of the rich people that are running around, so you should map the 100 biggest rich people events, and then reach out to the people that have exhibited there in the past and see if they want a hook to draw people in. - [Elkar] Okay, that's a great idea. When are we talking to the shipbuilder, for instance, right, so one of the challenges is actually to express other VR cases, because, for them, I think that it is completely new, right, so, it's difficult for us to see, to prove our pitch. Any ideas how can we bring those guys on board, even though we don't have other cases, U.S. or. - You mean they're looking for case studies of other people that did it? Yeah, I mean, this has been my whole career. The answer is you don't have them. Same answer I gave that nice Uber driver. As soon as they say, I need a case study to move forward, they're not in the VR business. Got it? - [Elkar] Yeah, makes sense. - Make a big list. When you're selling the future, the answer is always make a big list, 'cause you're gonna get a lot more nos than yeses. - [Elkar] Okay, thank you so much. Just one last thing, you have the VaynerBeta program, can you show a little bit more about it, or. - It's $25,000 a month for us to do the marketing for small businesses, and it's a very watered down version of what VaynerMedia does for the biggest brands. But it finally got to a place where I believed enough in it to actually sell it. So, I think it's ROI positive in a $300,000 macro for small and medium sized businesses, but obviously, not that small. $300,000 for content and distribution in social networks is for a business doing some real revenue. - Thanks, thanks so much. - Awesome. Can you give me the mic? - [Man] Gary, Gary, five more minutes. - Oh, you have, what? - Five more minutes. - Okay, good, this way, here, give it to me, 'cause I wanna give it, yeah. Yep. Nice. - [Man] Or if you would like to take it longer, it's okay, it's up to you. - Hey, Gary. - Hey, brother. - [Man] Speaking of that product, there is a lot of, for me, on social media, there's a lot of, sorry, I fucking hate public speaking, by the way. - No worries, nobody's judging. - [Man] So there's a lot of shit that I see on social media, it just seems like people are just churning and churning and churning content. I can see the reason why people are hiring you for their product, when would you advise people to kind of step back and hone their skills and sharpen the sword, versus just, like, it was a big thing that everyone said today is take action, take action, take action, but there's obviously a time to sharpen. - To be thoughtful. - Yeah, yeah, yeah, yeah. How do you make that. - Let's make it a little bit more selfish for you, what are you trying to figure out? - [Man] Alright, so I was, I transitioned recently from, I was in the fitness space, I was a fitness influencer, I was one of the, in the U.K., amongst the first kind of young people to get really big, and that kind of took off on Instagram, on Twitter. I then got sick of that industry, and transitioned into the content based, so, film and media, previous to that, just a prerequisite that, I created a business, like, an app for discounts, a niche discount app in the U.K., and it blew up. Got bored of that, so, like, got bored of fitness, got bored of the app. Transitioning, and, I kind of, I'm at the point where I'm like, right now I get up at four a.m. every day, I'm studying film, I'm studying media, and everyone around me is just like always create, create, create, but, to me, this is a time for me to sharpen my sword and get my content to a level where it can actually gain attention. - I like it. - [Man] I just wanna know when, when, when, when you have done that, 'cause you pulled back on your content body for eight years, when are you deciding to pull back and learn and then to execute. - For me, based on the content I'm putting out, it's when I feel like there's something really meaningful to talk about, then I wanna get louder. Right, like I talked about earlier. For you, it sounds like you're doing original creative, I'm asking. - Yeah, yes. - It's more like nonfiction? - [Man] Yeah, nonfiction. - To me then, it would be when you feel it's ready. Right, I don't think your, now, what I will say is, don't be scared to put a little bit out there, remember how I, or I did that in an interview, I didn't say it on stage yet. Nobody remembers your losses. George Lucas had movies before Star Wars. You know, so I wouldn't be super duper scared of putting some stuff out there, we're not gonna judge, that was crappy, now you can't win on the next thing. The other thing is you could be very thoughtful, and put out little pieces of content that are parts of the story, Tim Ferriss sold 4-Hour Workweek because he used Google and tested six different titles, or four, I don't remember the story, but he saw consumers' intent around that title, and it really worked. I see a lot of the same happening in original content online. You could run really smart shit, I would create a fake Facebook page, some other brand that's not gonna be your coming out party, put some content there, run $50 worth of ads against the demo you think you're reaching, and look at the quantitative and qualitative feedback, and it might give you some insight if the sword is sharp enough to take out of the shed. See what I mean? - Yeah, no, I get it. - I think there's a way for you to use it as offense instead of looking at it as detrimental. - [Man] That makes sense. - Because, to your point, and it's using your own words, there's so much being put out now that people are forgetting, like, our attention span is so zero, there's very little damage you can do to the IP, compared to the way it plays out in your head. I always tell all my friends, nobody really gives a shit. You know, you do, 'cause it's your baby. It's why I put out so much content. I think it's all good enough, and if it's not the greatest thing for the world, that's okay, learn from it, I'm putting it out there, right? For me, I wanna get it out there, but, you know, I think you should use it as an offense. - [Man] Nice, I appreciate that, thank you. - You got it. - [Micheal] Hi, Gary. - How are you? - [Michael] I'm good, thank you. I'm Michael, from Perth, in Australia, three of us came out. - That's awesome, thank you. Know it well, grew up in the wine business, been there plenty of times. - [Michael] The Swan Valley to Margaret River? Beautiful, beautiful. - I know it well. - [Michael] This one's a little bit off topic, a little bit, over the last year or so, I've been going down a bit of a philosophical road, thinking about life, could be a midlife thing, I don't know, and I notice that you, I think that you're probably one of the great philosophers of our modern age, I think, away from branding, away from marketing, and I've loved your content with Ryan Holiday and stuff like that. I'm wondering if, at some stage, you may write a book, away from, as I said, the marketing and social media stuff, and more about sort of your life lessons, like the famous three words, you're gonna die, that sort of stuff. - Yeah. - [Michael] Good. I'll buy it. - I think yes, and I think you clearly kind of see what's going on. I think I, look, I'm writing a book called Perfectly Parented, it's a parenting book. - [Michael] So it's, you are writing. - I am writing that. I think of doing some pretty hardcore philosophies, and then blending it down into a little bit more tactical in subject matter, I think I'm gonna evolve, right? I think even if you look at early Wine Library TV, I'm starting to throw life lessons into the, it's a wine show and I was doing it, right now I'm into this marketing thing, but my intuition is yes. - [Michael] Yeah, that's great, 'cause I think 500 years from now, whenever, I think you'll be remembered as a philosopher more than a marketer, I think. - You know, I think my ego's very happy with you right now. (audience laughing) - [Michael] Ego is the enemy, remember? - But I would tell you that it's how I think of myself much more. I think my stuff is very heavy, philosophical, what saved me from being too heavy is my love of execution, and I think I've forced myself lower down the funnel of my philosophies to make them tangible and useful, but yeah, I think I have heavy themes in that world, which is why it feels native to you, and I do think that the people that, if you listen carefully to even today, people are getting a lot more value out of my structure of thinking than I gave you some tidbit, you know, I love when people are like, Gary Vee, you suck, you know, I love this, this is my favorite, why don't you give us like, an actual piece of advice, enough of this hustle and go, and la la la, and I always laugh, I'm like, dude, and I reply, 'cause I love it, I'm like, dude, Google it. You can Google anything tangible. You wanna learn how to use hashtags, you wanna learn how to edit YouTube videos, you wanna learn how to create Snapchat filters? You don't need a guru to sell you an $80 eBook. It's free, it's called https://www.google.com. To me, I think the stuff we talk about philosophical is imperative, 'cause it becomes your life's strategy, which then dictates your activities, like, him not being impatient and going wide is disproportionately more valuable for his business than me telling him to use, you know, RED in a post on LinkedIn that will convert you know, 1% higher. That matters too, but nowhere close to the stuff we were talking about earlier. So, I appreciate it. - [Michael] No worries, and, I've got on my phone the You're Gonna Die, it's a very hard one to explain to the kids sometimes, though, when they see it. - It's powerful, right? - [Michael] Yeah, oh, it is, it is, yes. - It's, I don't know what everybody here is thinking, the reason that lovely lady in the back with the tech product, right, I'd rather her fail on her tech product than regret never doing it, because the regret is gonna eat her alive. And that's why I think about you're gonna die, like, I don't know what you guys are thinking, but whatever the hell you wanna do, I highly recommend you do it, because if you spend time with old people like I do, you will figure out real fast, it is your biggest vulnerability. It will be the thing that kills you when you can't do anything about it. Regret is scary. It's as scary as it gets. - [Michael] Is it okay to get a Perth crew kind of selfie with the three of us and yourself? - Sure. - Cool, thank you. - Cool. One more, are we done, or? - [Jack] Hi, Gary. - How are you? - [Jack] I'm fine, I'm Jack from Take Charge dot Asia, so, we actually very passionate on education. So, I would like to get your view, how do you see we can evolve the education from now to it's, to the future. - [Gary] You got it, so, one more time, the education is what, one more time? - [Jack] How do we evolve the education? - Which education, what kind of education? - [Jack] Higher education. - Higher education. So, I think higher education is in a very vulnerable place, because I think most people in higher education don't understand that the only thing they're trading on is brand, and as we start seeing the biggest and best universities in the world start creating these products that are diluting their brand, right, which we're seeing a lot of now, Stanford and Harvard selling courses where people can say on LinkedIn they went there, even though they took a course. I think the way higher education is gonna evolve is the professors themselves are gonna start getting huge leverage to go direct to consumer, and start trading in that way. So, I think, if you have passion for the institution, versus the actual education, the money making entity known as a university, well, then I would change the business model very quickly, because it's got a real vulnerability over the next decade because of the decentralization of information, right? So, I guess my question is, is your passion lie in the university itself being successful or education itself being successful? - [Jack] It's actually the 100 years old education system, we want to make a change, even we are small, yeah. - For what purpose? - [Jack] I just feel that the youth, or the millennial, they just somehow need some guidance along the way to actually discover what they desire in life. - And you feel that modern universities and intuitions are good at that? - [Jack] No. - Right, so, so, do you think it has anything to do with the financial benefits of being a university? Because that's the question, right? I think we all agree that this notion that four years at university is becoming this amazing guiding light for millennials to find what they're passionate about has 100 years of being proven to not be true. So, my question becomes, with higher education, is what's the purpose? I default into the purpose is to make money. Which is not in the vested interest of the user, which is a vulnerable model. If your passion is to help young people find their passions, I have a funny feeling your default wouldn't be into saving the institutions known as universities. Now, that's the interesting debate, right? I feel that, unfortunately, universities have manifested into incredibly self-serving machines, and they're so broken that I've gone so on the other side, and I can't speak to other parts of the world, but in America, they've become the worst thing on Earth. Kids are getting unbelievable amounts of debt that they can't get out of, and aren't being put in a position to recoup it within the first 20 years of them being out of it. Now, I know there's other rules in other places, so, I know a lot of us are from different places, but if you're, if you're telling me your passion is to help kids find their passions, I would use a blank piece of paper, and reinvent a new model, I have a funny feeling that whatever you come up with is not gonna be something that the traditional universities are gonna like, because it's gonna break their financial system. - [Jack] Yes, exactly. - So, now the question is, do you wanna find a new business model for a traditional institution because that's what you do for a living right now, or do you wanna go on a quest to reinvent the opportunity, those are two very different things. - Quest to reinvent. - Good. So, I'm an investor in a startup called MissionU, which is a different business model where they educate, right, and for free, but in return, the students give 15% of their salary the first three years of their career. I think what Adam's doing there is trying to rethink the way this is all played out. But I still think it's self-serving interest, right, produce people that, if you think about that model, produce people that will actually make money, so that I can get back my 15%. You know, I question the whole thing. Now, I question the whole thing 'cause I was a terrible student, I was super self-aware of who I was. I would tell you, if you really wanna achieve your goal, you need to create a model that gets to six to 10 year olds, and you start finding a way to teach self-awareness. If you can figure that out, you will achieve your goal. - [Jack] Okay. Thank you, Gary. - You're welcome. I'll go more. - [Man] Okay, but, you know, maybe you know this, all these guys want to have a picture with you. - Listen, I'll stand here until tomorrow and just leave, and then. - No, no, no, all these guys want to have a picture with you. - Yeah, but if, you're in charge, not me, I'm, I'm just. - Okay, so. Do your job. - So, which one do you want me to do? Okay, good, hello. - [Woman] Hi Gary, hi Gary. - Hi. - [Woman] Okay, in every businesses, there's the supply and the demand side. - The most interesting thing that I've heard somebody say in a long time, 'cause you're 100% right, and it blows my mind that almost nobody talks about it. - [Woman] Okay, so, here's my issue. I don't have any problem with the demand portion. Okay, the minute I go out there, I open my mouth, I'll get the business. - You don't know how to fill the pipe. - [Woman] Yes, and I don't know how to duplicate myself. - Because you can't. - I can't! - I don't know if you heard. (audience laughing) - [Woman] Yes, I know that, but I need to, I really, really need to automate my business and duplicate myself, so that I can go home and have a holiday! - I understand. - So, what, do you. - There's only two things holding you back. Your inability to operate, or your ego. So we just have to dissect it with a couple questions. What do you sell? - I'm in consulting. - Great. Why haven't you hired more people to consult? - I have. - Good. - [Woman] But they're just not up to it. They're just not up to the level, they're not, and-- - Hold on, hold on. Up to whose level, yours or the clients'? - [Woman] The level that I set as a basis to benchmark as what I go for, it's money service. - So, so, you, real quick, who's hiring these people? - [Woman] Me. - Okay, so let's play this game together. (audience laughing) - [Woman] Alright. - What's about to happen is you're about to get exposed to yourself, and then you'll be able to win. You're playing the very fun game of you've got a big fucking ego. I mean it. You've gotta wrap your head around this. You're hiring, you've created an arbitrary benchmark that nobody's hitting because you have put yourself on a pedestal at the mercy and the detriment of building a bigger business, because you wanna self-fulfill that you're so much better. Play with me. You can't, think about what you, go ahead. - [Woman] I'm not willing to lower my standards. - So don't, don't scale, then. Be a one woman show. - [Woman] I believe I can do more, I believe we should duplicate this. I mean, I've got the models, I've got everything there. I've basically templated everything that I do. So, all you need to do is take the template, follow the SOP, and let's go out, hit the market. - How many employees have you had at the height? - [Woman] 12. - And how many do you have now? - [Woman] Two. - And was it customers firing or, them? - Me. - You. - [Woman] And at one point, early this year, everyone left, and I'm fine with that. - Why? - [Woman] Because they realized that it was the wrong place for them to be. And I realized that I can't, there's no point for me to keep anyone when they can't do the job, and I'm, I'm prepared. - Have you thought about the possibility of you being a great consultant but a terrible boss? I'm asking, I'm asking. - [Woman] I have that reputation, I know. - Okay. (audience laughing) So, thanks for answering. Look, I think you have, I'm being serious with you, and the reason I went right at it, I want you to win. It's a game of ego, and what people don't understand is that is the problem for all the, the reason I've been able to scale VaynerMedia, many think that I have an ego, I play on confidence, which is what allows me to scale, because I don't hold everybody to an arbitrary metric that has no reality other than what's playing in my own head. To me, if you're the one firing, or they're quitting 'cause the work environment is exhausting because you keep pounding the drum of some fake Mendoza line of quality needed that you are the judge and jury of, and it's some interpretation of how you decide they follow the template, you're just scratching your own ego of how great you are at the detriment of your business. The reason I have 800 employees and high retention is I don't hold any of them to my standard, because they don't need to be me to build an actual business. You need to decide if you wanna build a one woman shop or an actual business. And can I tell you something? There's nothing wrong with the one woman shop. The way you'll scale is you may charge for content, you may write a book, you may start getting paid more to speak. You don't, maybe you don't, you know what I mean? And even when I say it, when I see you react, you don't need to build a 40 person consulting shop, because maybe you don't like it. It's not that you're a bad person, it's that you don't wanna lower your standards, and if you're stuck in that, well, then monetize a different way by expanding more around you, versus trying to build up the actual business around it. You know what I mean, and that's okay, it doesn't make you a bad person, as a matter of fact, you'll probably be disproportionately more successful, 'cause you're being self-aware, and enjoying being the one person band and making your money that way. You don't have to build VaynerMedia, you don't have to build Bain and McKinsey, be you, and be your best self your way, and enjoy it. - [Woman] Thank you. - You're welcome. - [Rayson] Would you mind, would you help me video this? Hi, Gary. - How are you? - [Rayson] I am doing great, my name is Rayson, and I'm actually a psychiatric nurse in practice, and also a founder of this brand called Raygacy, because Raygacy means Rayson's legacy, so, I wanna create my own legacy. So, now that, now that I'm actually in doing freelance coaching, training, and speaking, motivational speaking, I would like to actually ask you if you and me, within the next two to three years, because I plan to leave nursing, because I find that I have a lot of potential, and I believe I can do even more, not just helping the mentally ill, and even my mother, who suffers from schizophrenia, I want to help people around and impact lives, as well, inspire them, what would you suggest, or what would you do if you were in my position? - And you wanna leave in two or three years. - [Rayson] Yes. - I would save money. - [Rayson] Save money. - Save money. And produce content to create awareness for when you leave, and I wouldn't spend money on dumb stuff, because when you go make that jump, you wanna be in the most safe place financially, right? So, I would save money and produce content. - [Rayson] I have been producing content, which is what I call the Raygacy Show, so the Raygacy Show is actually where I interview entrepreneurs, successful entrepreneurs, actors even, even just now I actually interviewed a chef, as well, and I interview a lot of people. I already have done only 11 episodes for now, but I am doing more, because I'm actually using Facebook Live to do it, because I feel that Facebook Live has always been a negative component where people actually use it to see people jumping down, or accidents, and stuff like that, so I wanted to use it as a value, adding content, so I use it, and then after that, I convert it to YouTube and then I will share it on YouTube and let people watch, as well. So, yeah, so, this is the thing that I'm doing, and one thing is I want to actually scale it up. I want to have more people to watch it, I want to have more viewers and. - Well, there's two things you have to do. Make more shows, and be more interesting. Because, don't forget, you're doing something very interesting to me. You said that you have the potential to be very motivational, that you wanna help people, this, that, the other thing, but then your first execution in media is to trade off other people's equity. It's an insight, there's nothing wrong with it. No different than the last conversation we had. There's nothing wrong with anything if you have good intent, but you have to be thoughtful and ask yourself, if you have so much potential to be so motivational and bring value, why did you go down the path of having guests, which is always the quickest tell to needing something else to drive content versus just being on yourself and up here. And it's important for you to be honest with yourself. Maybe you're trying to get your legs underneath you, there's nothing wrong with it, but the way you framed it up, where you converted your name into legacy, and your first move is to interview other people, which is the real driver of it, you have, the first thing I would say is do not jump until you're ready at a place where you can command an audience by yourself without leveraging somebody else. The reason I knew that I was gonna win in business content in podcast, was 99% of podcasts were people interviewing other people, which means the host is the commodity and the guest is the draw. There's so many subtleties in everything that we're doing here. You gotta look for them, because they're really interesting tells to what's really going on, right? Like the last wonderful, the lady next to you, but I'm excited, to me, that's gonna be the thing I think about on the flight, I'm like, I think she's gonna win. You have to get to that place where you realize if you're the one making the rules and nobody can hit it, that needs to be thought about. What does that mean? Same for you, if you're gonna make that jump, especially when you have the audacity to convert your name into legacy. (audience laughing) That you need to be good enough before you jump into not being at the mercy of somebody else. - [Grayson] Okay, okay, thank you. - You're welcome. - [Grayson] Do you mind if I have a photo with you? - Sure. - Thank you. - Last one? - [Man] Gary, I would just wanna get as close as possible because I still can't believe I'm talking to you. - Thank you. - [Man] Okay, and this is the last question, guys. - Sure, I got you. - [Man] Gary, you talk a lot about self-awareness. - Also, if you're gonna go for legacy, you're gonna have to learn how to take selfies. Just kidding. Awesome, thank you, my friend, good luck to you. Yes, sir. - [Man] Gary, among all the things that you talk about, being branding, marketing, and all of that, the thing which hits me hard the most is self-awareness, because you always talk about self-awareness, and the reason why that's so is because I've got a brother who was born with cerebral palsy. He was born with cerebral palsy, he was a breech baby, and doctors said that he wouldn't be able to live for more than 24 hours. But then, he's gone on, he's achieved some good things, he's even written a book that's titled Better Than Normal, it's the t-shirt that I'm wearing, and he wants to become a speaker, he wants to go on and inspire life, our big mission to, our dream is to inspire 50 million people by 2050, and coming to the question, do you think, because you are super successful, you're a super successful entrepreneur, everything that you are, we all wanna be you, I wanna be you. Do you think you would have been this successful if you were born with some kind of disability, or if you were born, I know you had some disadvantages in your life, but do you think you would have been this successful if you were born with a disability, something that you cannot change about yourself, something physical. - I don't know. I don't know. I think it would be crazy for me to answer that question. Here's what I would say. I think that disadvantages are the ultimate advantage. I think adversity is a humongous advantage in life, but when you go into real diseases or things that could create huge insecurities, if you're born without an eye, as a child, having a glass eye could have created such a complex that maybe the confidence would have never been there. So, I think it's crazy for me to even take a stab at judging what would have been. I think that would be inappropriate. - [Man] And the reason why I say that, because although our brand is Better Than Normal, if you ask Hitesh, he's not here today because he's in India doing his therapy and we are doing a movement in India because the market is bigger, but he's gotta do therapy every single day, six to eight hours of it just to maintain his, just to maintain his state, and if you ask Hitesh, even though we want to inspire 50 million by 2050 to become better than normal, if you ask him, Hitesh, before you die, what is the one thing that you want, the irony of it is that he will tell you that he wants to be normal. - Of course. Because that's his truth. You know, instead of some arbitrary number of 50, I mean, 50 million people in 2050 is an arbitrary thing that you guys stumbled on that has zero anything. I think the, to me, I've always thought about it as. (clicking) Best way to get to 50 million is to focus at one at a time. The second I hear 2050, 50, I'm like, finished. Finished. Right, like, so, that makes sense, and I think it's super awesome to see the love you have for your brother, I think, couple things. You need to do me one favor. A, have no interest in being me, B, have no interest in wrapping yourself up in your brother's story, because you're just gonna end up resentful, and you need to, ironically, you started with self-awareness, you need to go inside yourself and really figure out what you're doing here. How much are you using this for your own want, how much are you doing this for him, you need to get, the way you structured all this, this could get real bad real fast. And so, I want you to promise me to just be thoughtful, because a lot of times, it's the same way I see, like, I spend a lot of time in this dynamic, you need to be careful. - [Man] My main purpose in my life I feel is I want him to be independent, physically, emotionally, mentally, that's what I really want, regardless of the brand, regardless of whether we make any money, I want him to be independent. - If that's your number one. - That's my number one. - Then that has nothing to do with the way you're positioning everything that you're talking about. There's nothing you said that even comes remotely to mapping to that truth. - [Man] I want him to know that, I don't think he knows that, that that's my number one. - So, go tell him. - [Man] I told him that a million times, but he somehow believes that it's not my responsibility for him to be independent. - That would make sense. You need to be thoughtful. Promise me, because this scenario turns out bad a lot. You end up with nothing. Not your brother, not the brand, just be smart. - [Man] And I know you don't read a lot of books, and you've probably read only four books in your life, but I would just like to give this one to you, maybe for your kids, maybe some time when you have. - Sure. - Thank you so much, Gary. - Welcome. - Thank you very much, guys. Thank you, Gary! Put your hands together for Gary Vaynerchuk, ladies and gentlemen! - Thank you. Cool, cool, cool, as Marcus Krzastek would say, great character at VaynerMedia. Anyway, nonetheless, hope that went well for you, and would love your comment below of your favorite question from the keynote, not your favorite thing that I said or the thing you learned, but your favorite question, and why, from this keynote, see you. (intriguing music)
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