You Have To Work Extremely Hard If You Want To Achieve Your Dreams - Gary Vaynerchuk Motivation

Summary

In this transcript, the speaker discusses the fast-paced and varied nature of his daily life as a business owner, touching on his commitment to work and the importance of understanding different consumer psychologies. He emphasizes the value of hard work and criticizes the current generation of 'fake entrepreneurs' for their lack of dedication. The speaker also highlights the importance of being in tune with the needs and mindsets of a diverse American market, using his Chattanooga office as an example of connecting with Middle America. Additionally, he shares a personal anecdote about a profitable arbitrage opportunity and suggests that similar opportunities can be found in garage sales and online marketplaces.

Takeaways

• 🗓️ The speaker's day is highly variable and packed with meetings, calls, and travel, reflecting the dynamic nature of running a business like VaynerMedia and VaynerRSC.
• 🤝 The speaker is scheduled to meet with the new CMO of Pepsi for North America, indicating the high-level corporate relationships involved in his work.
• 💼 He is also involved in raising a new fund and has limited partner (LP) calls, showing the financial and investment aspects of his business operations.
• 🛫 Frequent travel, such as flying to Vegas for meetings and speeches, is a significant part of the speaker's professional life.
• ✈️ The speaker emphasizes the importance of time management, often working 18 hours a day, and having a full-time assistant to help keep his schedule.
• 💬 There is a critique of the current generation, described as the 'greatest generation of fake entrepreneurs,' due to a perceived lack of commitment and hard work.
• 📈 The speaker believes in the value of hard work, stating that 'working hard is the cost of entry of winning,' and that success requires full commitment.
• 🏙️ He discusses the importance of understanding different markets and consumer psychologies, such as those in Middle America versus coastal cities.
• 📚 The speaker shares personal anecdotes about his business acumen, such as arbitrage opportunities he exploited in his youth, to illustrate the potential for profit in unexpected places.
• 🛍️ The speaker suggests that 'garage sailing' and selling on eBay could be a profitable side hustle for many, highlighting the potential in overlooked markets.
• 🌐 He emphasizes the need for self-awareness and the importance of understanding one's target market deeply, whether it's a 36-year-old mom in Arkansas or a recent college graduate.

Q & A

What is the speaker's daily routine like?

The speaker's daily routine is highly dynamic and packed with various activities. It includes meetings with high-profile clients like Pepsi's new CMO, in-house meetings, calls for raising a new fund, a four-hour session with Mondelez, travel to and from Newark Airport, and attending meetings and giving speeches in Las Vegas.

What is the speaker's perspective on the current generation of entrepreneurs?

The speaker believes that the current generation is the 'greatest generation of fake entrepreneurs of all time' due to a perceived lack of self-awareness and a sense of entitlement among young people to start and run their own companies.

What does the speaker suggest is the cost of entry for success in entrepreneurship?

The speaker suggests that 'working hard' is the cost of entry for success in entrepreneurship, emphasizing that no one has achieved success without putting in the effort.

How does the speaker describe the mindset of his employees at VaynerMedia?

The speaker describes his employees as having a different mindset, valuing experiences and flexibility over traditional work-life balance, as they are willing to work unconventional hours and take extended trips without a formal vacation policy.

What is the speaker's view on the importance of time management for entrepreneurs?

The speaker emphasizes that every minute is precious, especially for entrepreneurs, and that time should be invested wisely to achieve happiness and success.

What does the speaker attribute the rise of 'fake entrepreneurs' to?

The speaker attributes the rise of 'fake entrepreneurs' to the ease of starting a business, the influence of success stories like Uber and Facebook, and the willingness of people to invest in startups without fully understanding the risks.

How does the speaker describe the difference between the mindset of his employees and a 36-year-old mom in Arkansas?

The speaker describes a significant difference in mindset, with his employees valuing experiences and flexibility, while the 36-year-old mom in Arkansas is focused on budgeting and providing for her family.

What is the speaker's opinion on the importance of understanding the market when running an agency?

The speaker believes that understanding the market is crucial, and that agencies should not be limited to major cities like LA, San Francisco, and New York, as their clients sell to the entire American market, which includes diverse regions and consumer psychologies.

What is the speaker's advice for those looking to make money quickly?

The speaker suggests that 'garage sailing' and selling items found at garage sales on eBay can be a profitable venture, with the potential to make a thousand dollars a week.

What personal anecdote does the speaker share about making money as a youngster?

The speaker shares an anecdote about buying Shaquille O'Neal action figures for a dollar each at a dollar store and then returning them to Kmart without a receipt for a profit, making almost $10,000 in three weeks.

How does the speaker describe his own approach to building businesses?

The speaker describes himself as a 'wartime general,' building his businesses during economic downturns, such as starting Wine Library after 9/11 and VaynerMedia after the financial crisis.