Review of Gary Vaynerchuk’s presentation at Web Summit 2013

In his short yet empowering presentation Gary Vaynerchuk , New York Times and Wall Street Journal Best-Selling author / / Self-taught wine expert // Innovator, talks about marketing and what it means being real entrepreneur. This presentation is definitely not everyone’s cup of tea and I had to take out the “F word” quite a lot, but it was a hell of a speech I must confess.  His presentation is a mix of common sense and genuine passion for what he does – entrepreneurship in the best sense of it.

To get acquainted Gary devotes few min of his presentation to his bio. He was born in Belarus, came to the States when he was 3. His family lived an immigrant lifestyle sharing studio apartment with 9 other members. His parents spoke no English but his dad managed to become a manager of the liquor store in NJ and the family moved there from Queens, NY.  As Gary was born with entrepreneurial spirit and started his first venture when he was 5 when he created lemonade franchise that he drove around. At the age of 12 he started his real business which was selling baseball and sport cards in the malls of NJ and he was making $2-3k per weekend: “Being a 13 year old kind and having $30K under your bed, and you are not selling weed – you are doing a good job”, says Gary.

At the age of 16 he fell in love with wine and it became his passion, he realized people collected wine the way he collected baseball and sports cards. As Gary calls it “being at the back of innovation” turned his family 3-million business into 40-million business.  When 1994 came along and AOL charged $4 a min for Internet, he realized that he would be able to sell wine through “that” thing.  So in 1996 he launched his first site “Winelibrary.com”

“Most people are marketing and building products like its 2009”, Gary said. By this he meant that marketers are not using social media opportunities at the fullest. We tell stories about the products as if we are not living now, but 4 years ago. We need to go, test and learn.

He continues the story how he bought the word “wine” on Google, when it was 5 cents a keyword, and owned it and had the first result for 9 months before his competitors competed against him. That what means being at the back of innovation.  A lot of people doubt innovation and how it is difficult to map the ROI of innovation, but of you are not going to take that leap you are not going to figure it out.

If you are a marketer, start up, business person and you are not spending a considerable amount of your time on twitter/search trying to find out the end thoughts of your consumer that means  you are losing.

And then he really grills it down: “Do you know how lucky we are to be born in the Internet era? The Internet is the biggest culture shift of our time. We are talking about a platform that is less than 20 years old and it has the biggest shift and social impact of our time. The internet has changed society. We grossly underestimated the impact of the internet in the time we are living through. This is the beginning of integration of the real world and the tech world, we need to start making stuff that brings value to people. The biggest problem that we have right now is that we are not reverse engineering the end goal of our customer, we reverse engineering of what we want for ourselves. We need to start understating the lifetime value and retention that how you have sustainable businesses long-term.

  • We need to get practical understanding of how to build businesses which is not front line or top line revenue, it’s actually bottom line and keeping customers, that is a real differentiator.
  • Execution is a differentiator. If your team has the ability to execute you can win.
  • Value is differentiator. We are living in the most ridiculous, super time ever. Value is subjective. How do you quantify value? We can argue about value, but if you have users that mean that you brought them value.
  • Work ethic is becoming a very substantial differentiator, the hustle really matters.
  • Keep saying hello to people, it’s people that will be the differentiator for you”.  So the main differentiator is the people, and its people that this is all about.

After Garry’s speech I actually came up with one great entrepreneurial tip too – if you have never heard Garry Vaynerchuk speak – do it! You will get inspired for months ahead!

Leave a Reply

avatar
  Subscribe  
Notify of

Recent posts

How to analyse the shopping behaviour on your website: 5 easy steps

June 21, 2019

Sometimes, ecommerce business owners give shopping behaviour analysis a miss, examining only separate indicators such as conversion rate or bounce rate. However, being aware of how your customers transfer between each stage of your purchase funnel may help you provide prudent solutions, improve user experience, and increase website performance at no additional cost. We should Continue reading >

Social Listening Tools: Why and How to Use Them

May 31, 2019

Social Media Marketing, SMM for short, is a digital marketing tool ecommerce owners have known and used for a while now.  Unfortunately, there’s often a lot of confusion about the key tasks SMM can be used for. For an online store, the main goal of social media marketing is much bigger to remain visible to Continue reading >

Promodo Partners X: Digitalisation is in the air

May 31, 2019

The anniversary 10th Promodo Partners conference was held in Kyiv, on May 16th. This year, over 600 ecommerce executives visited the event to share their best practices, exchange experiences, and expand their professional network. Traditionally, there are two parallel sessions. On the main stage, owners and C-levels of leading ecommerce businesses in Ukraine, Turkey, and Continue reading >

What are outbound links?

May 13, 2019

Outbound links are URLs on your website that link externally to other web properties. Both outbound and inbound links are important for your website’s search engines ranking. The only ‘ones’ that fully understand the ranking criteria are search engines themselves, and they carefully protect their algorithms. Still, SEO specialists can use external links outside of Continue reading >

Let's get the ball rolling

Please fill in this short form and we will be in touch with you soon

For any questions [email protected]

UK | USA

+44 (0) 20 313 766 81
+44 7852 537715

Lincoln
The Terrace AT5,
Grantham Street,
LN2 1BD

+1 347 809 34 86

Las Vegas
7848 W. Sahara Ave.
NV 89117

State Of Ecommerce 2018 (Poland)

TOP 50 Market Players & Their Traffic Analysis

enter correct name, please
enter correct e-mail, please

Review of Gary Vaynerchuk’s presentation at Web Summit 2013

0
start now

Start now