“I’ve said it time and time again, entrepreneurship is hard and it’s not for everyone,” says Gary Vaynerchuk. Perhaps experience had already taught us or that phrase “9 out of 10 companies fail” had given us a clue; The fact is that when an entrepreneur who took over his father’s business and increased his capital from 3 million dollars to 50 million dollars says so, you have to pay attention.
Today Gary is an investor, author (his latest book titled #AskGaryVee was a bestseller), lecturer and due to his peculiar way of being and “subtle” style to say what he thinks, he became a personality on the internet.
Since leaving Wine Library TV, the company he nurtured, he has founded VaynerMedia and VaynerRSE, a startup incubator. His personal experience and what he has learned in the projects in which he has invested have made him an authority when it comes to talking about entrepreneurship, so today we bring you 4 life lessons that will teach you how to start a business according to Gary Vaynerchuk.
How to start a business according to Gary Vaynerchuk.
1. Put the business in perspective.
Gary goes beyond the conventional approach and it is not enough for him to say that the road is difficult, he says without mincing words that entrepreneurship sucks. He even compares it to a bad love relationship where there are many difficult days and pain is a constant. “He’s lonely, it’s very high risk but I can’t live without it… For me it all depends on how we’re set up… I love climbing.
When something goes wrong I get excited because that’s when I can shine more, but that’s not for everyone, it’s difficult; and when you start to affect your life and your loved ones things get quite complicated”.
His recommendation on how to start a business in difficult times is to put everything in perspective. He takes heart knowing that he can earn trillions and that it would be insignificant if something happened to his loved ones. Thinking like this gives you the chance to compare the “pain” of the venture with the real pain. “At the end of the day, it’s money, but I also want to leave a legacy…I put it in perspective and I know it’s just business.”
2. Tell a story.
“A product that is designed to sell thousands can sell billions by telling a story.” When he had the opportunity to see Steve Jobs at Apple launches, he didn’t care about the new iPhone or iPad, he was interested in seeing how he offered them to the public, because he did it through a story.
Gary says that part of success is understanding what the consumer really wants and from there creating a story to connect them emotionally.
3. Idea vs execution.
Have you had any ideas about a possible app or a cool product? And what happened, did you leave the excuses behind and seek to make it a reality? Quite possibly not and it’s still just an idea. We all have ideas and no matter how incredible they may seem, they are not important. “Ideas are a M¡%#[email protected]in the execution is the game” says Gary and gives the example with Uber.
The famous taxi application was not an original idea, 3 years before its appearance there was something called Taxi Magic (today under the name of Curb https://gocurb.com), the difference was in the execution. That is why he criticizes the fact that so much importance is given to a great idea and not to the most important thing, which is how to execute it correctly.
4. Excuses go down the toilet.
When asked what was the biggest obstacle between lack of capital and lack of time, he replied that the real problem was asking those kinds of questions. The reason is simple, both are excuses and take us away from the goal. “There are a million reasons why they won’t be successful but there’s a big reason they will and that’s because they can persevere until they get there…Building a business is hard basically because everything that happens every day makes it hard” .
And remember, if you are really interested in creating your own business, you can purchase our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
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