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Friday, November 8, 2019

How did Gary Vaynerchuk become a high success?

 you’re reading this then chances are you already know who Gary Vaynerchuk is. But if you don’t, all you need to know is that he is a force of nature.
  • Grew his father’s wine business from $3 million a year to $60 million a year in five years.
  • Founded VaynerMedia, a social media-focused digital agency with 900+ employees and $131 million in revenue.
  • Recognised as one of the leading business thought leaders in the world, regularly speaking and advising some of the biggest companies and personalities on their marketing and branding.
  • Built an estimated personal net worth of over $160 million, and was an early investor in Facebook, Twitter, Tumblr, Snap, and Uber.
  • Authored five New York Times best-selling books, including “Crush It,” “The Thank You Economy,” “Jab, Jab, Jab, Right-Hook,” and “AskGaryVee.”
Gary Vaynerchuk might be Warren Buffett’s secret mentee.
Whereas Warren trades stocks and bonds, Gary trades "the single most valuable asset in business", your attention.
And unbeknownst to many, like Warren Buffett, Gary Vaynerchuk has built his career on identifying underpriced assets, in this case, attention and going in hard when he finds them.
Gary built a Marketing Empire of 19 Million Fans of several social media platforms.
And I admire him for his Mental Model Which is “Attention Is the Currency of Business”
Attention is the currency of business.”
To communicate, influence, or sell anything to a customer, you first need their attention. Without their attention, your business or ideas are guaranteed to fail no matter how good they are.
Put another way, attention is the gateway to their wallet.
Today, the net worth of the media industry and many of the world's wealthiest tech companies (Google, Facebook, and Instagram) is entirely based on their ability to capture and monetise attention.
Once acquired, attention can be grown, monetised with products and services, or sold to the highest bidder.
Giving value investors like Warren Buffett and Gary Vaynerchuk the opportunity to acquire extremely valuable assets at way below their true market value.
However, for a golden moment, the organic reach of these young platforms is huge, engagement is high, and there is a huge imbalance between quality content producers and the people wanting to consume the content.
Giving early adopters the chance to build huge audiences, by capturing this severely underpriced attention.
  • Email Marketing & Google Ads — Gary grew the family business from $3M to $60M per year in 5 years, by using email marketing and Google AdWords when the open rates and CPC were ridiculously underpriced, at 90% open rates and $0.05 CPC, respectively.
  • YouTube — Seeing the rise of YouTube in 2006, Gary created a show called Wine Library TV. Within one year, this channel had catapulted Gary to national fame as a wine commentator, appearing on numerous national TV shows, including “The Late Night Show with Conan O’Brien.”
  • Twitter — Again by being early on Twitter and a big advocate, in the summer of 2009, Gary quickly grew his following to 850,000 followers because he was consistently recommended on Twitter’s “People You Auto Follow When you Sign Up” list

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