Gary Vaynerchuk, famously known as Gary Vee, is a Belarusian American entrepreneur, author, speaker and internet personality. From developing his family’s wine business to leading New York based companies VaynerMedia and VaynerX, GaryVee has seen all sides of a business. In 2014, he was also named in Fortune magazine’s 40 Under 40 list of the most influential young people in the business. He has through the ages spread his knowledge and skill to all aspiring entrepreneurs through books, seminars, blog posts and in 140 characters. This 42 year old entrepreneur has come a long way from his first company WineLibrary.com to becoming a self made millionaire.
Today, we take a look at some of his best advice
Be Practical
One of the first things he has always advised entrepreneurs about is to be practical about everything. “I’m blown away by all the “entrepreneurs” who start businesses and at launch, don’t realize the importance of generating money and how to manage profits.” It is important to make sure your actions can respond to the cash flow that occurs before you even turn a profit. Every business will drain money in the initial stages. The first lesson entrepreneurs need to learn is understanding the financial aspects of running a company such as paying for necessities like rent, supplies and inventory.
Stay true to your word
According to GaryVee, this is one of the best pieces of advice he’s ever received. If you have made a commitment to do something, make sure you keep your word. Going back on your word will not only affect your business but your personal brand and reputation as well. Your word is bond and you need to make sure you deliver the highest quality of work.
Strong Social Media content
Not all press is good press and no amount of good press will help change bad content into good press. Be on top of your social media game with out of the box campaigns and develop a relationship with your audience. Refocus on the content you put up on Facebook, Twitter, LinkedIn, Snapchat, Medium, Reddit and YouTube to portray your companies policies, strategies, vision and mission. If you just start using the proper hashtags on Instagram, you can easily start being discovered over time. Invest in the long term plan to improve your brand’s content.
Hustle
Gary Vee is known for working 18 long hours to fulfil the vision. Entrepreneurship is a commitment. Running a company leaves little time for everything else including vacations, family time or even small breaks. Entrepreneurs need to realize developing an enterprise from scratch is a substantial sacrifice and requires a very high level of commitment. Hustling is the only way forward.
Gary Vaynerchuk is an inspiration who has stayed ahead of the curve and social media trends. Success does not come easy but it is not unachievable.