I’ve been following many entrepreneurs and other business figures for quite some time now and I’d like to share with you one of them. He’s Gary Vaynerchuck, a serial entrepreneur, investor, and a public speaker. In just five years, he grew their family wine business from $3M to a $60M worth.
This guy’s voice resonates with what’s inside of me and without further ado, here’s a list of the things that became much clearer to me as I follow him.
7 Business Lessons from Gary Vaynerchuck
1. Self awareness. I’ve been having this thought that entrepreneurship is really not for everybody. You can’t fake yourself to be a businessman if you’re an artist.
It’s just like if you’re an introvert, you are an introvert. If you’re an extrovert, YOU ARE AN extrovert. You can fake yourself for a while and get tired but at the end of the day you will still go back to who you really are.
If you like building things, programming, creating apps, tinkering stuffs, modding gadgets, or what have you, that’s great.
If you’re into sales, marketing, outsourcing stuffs, and you can digest negotiation process and networking events, that’s great.
What works for others does not necessarily mean it will work for you. Stick with your “DNA”.
You need to have that self awareness, you need to know who you really are in order to put yourself in a position where you can win. You need to audit who you really are.
2. You genuinely need to love struggle. Many people wants to be successful. However, not too many can handle the struggle involved in whatever path they’re taking.
Think of this.
The best of the hackers are the ones who continually learn and experiment on things they love doing. They may get annoyed for a piece of code that doesn’t work but they will keep on working even if it will take them long hours or days or even weeks just to fix things or break things apart.
Why? Simply because they genuinely love what they’re doing.
You should be able to withstand all the punches you taking whatever game you are playing. You gotta love rejections, the pains, the struggle, in order to get to the position where you want to be.
3. Stop pondering, start doing. If you’ll ask all aspiring entrepreneurs, they’ve got gazillions of ideas. However, not all are taking effort to workout their ideas.
It’s like saying “Your credit is good but I need cash”.
Your ideas maybe good but they’re all meaningless until you put in the work and make it happen.
4. Bet on Your strengths, accept your shortcomings. This is part of self awareness. Once you fully understand who you really are, what you want to do for the rest of your life, what your skill set are, you can now start betting on your strengths all-in.
Don’t bet on something you’re not good at.
5. Communicate. Many relationships, businesses, and families were ruined because of one thing and that is communication.
Through proper communication, you can resolve problems with somebody you have issues with. It’s a way to find out where people can meet.
Expressing what you want and what you don’t can make people around you adjust their behavior towards you for the better.
Communication is a tool that makes people live & work in harmony.
6. Time is your best asset while you’re young. While you’re still young, maybe in your 20’s or early 30’s, invest inyourself. While you’re still young, ask yourself what you want for the rest of your life and gain all the knowledge and skills you need in order to live that life then build a business out of that.
Build your foundation first. Get the skills, meet people in your field and network, meet some coaches, follow the leaders in the industry you’re in, and after seven years of doing that, you already have a good foundation to whatever you want to build.
Don’t aim for money yet. Aim for experience.
7. Long term gaming. The moment I realized that many people don’t have this in their being, I’m happy that I have this in my body. It’s one of the most valuable thing you can have if you’re into business.
Many people nowadays are looking for easy money, fastest way possible to be successful, the fastest way to get things, and etc.
Although there are some easy route to get to where you want to be, I’m pretty sure it will not be for long. If it is an easy come, most likely it will become an easy go.
Don’t think about what you will be cashing the next week or the next month, think beyond that like 4 years or 5 years game. If your still can’t absorb what this means, you’re in trouble my friend.
I encourage you to follow Gary in his Facebook and other social media accounts. You can also checkout his website here. He’s a guy whom you can resonate and align your entrepreneurial perspectives with.
If you’ve been also following Gary’s shadow for quite a while now, feel free to talk about the things that resonates with you the most in the comment section below.