Video Transcript

00:12 Scott Gerber: A story that I heard you tell at an event that we were both at, a few months back. You talked about on December 23rd, someone needed wine and you literally drove on the probably the most busiest day of the year, off the floor... Number one salesman... Off the floor to go deliver wine that was less that a $100 order, when literally, this was the biggest day of your...

00:29 Gary Vaynerchuk: Thirty-six dollars.

00:30 Gerber: Thirty-six dollars.

00:31 Vaynerchuk: For a case...

00:32 Gerber: Why would anyone do that?

00:33 Vaynerchuk: Of crappy ass wine.

00:34 Gerber: Why would anyone do that? And secondly, who would you not only do it, but why would you stand by it and make it, so that it becomes a corner stone of your thinking, when you're talking about business?

00:42 Vaynerchuk: Because effort is underrated, 'cause it just doesn't have to be about dollars and cents. That I know the reason I've been successful, is I never make decisions like a CFO, and I never make decisions for the next 24 minutes, and everybody else does. The end.

00:58 Gerber: So, what did you take away for that moment? Because at this point too in your life, you were building your company, as well with your father, you were going through all the...

01:02 Vaynerchuk: I'm a storyteller, right? Yeah. I'm a storyteller. I knew that my dad wasn't customer service-driven, and I saw an opportunity to create a legendary story. Stories, stories are the game. And so like, if I could create a story that's still being told, even though I'm not there day in day out, because it's been passed on in legend. And it's probably changed now, right? I probably jumped over a car, and like probably fought a dragon and then delivered the wine, it's all about stories and I wanted to create a moment. It was so counter-cultural to the capitalism nature that we grew up in, that I knew it would make an impact.

01:36 Gerber: And it's interesting, your philosophy that I've read about in many places is this sort of hunting versus farming. And what's more important and why? Why is that philosophy so important?

01:44 Vaynerchuk: Here's what's nuts, I'm a hunter. I'm a new business, new business, new business... This is a maturity process to me, and listen, I'll give AJ credit, too. My brother, very early on, I could see him over-indexing in farming, like, "Let's not get a new customer." It's funny. We USE roll reverse. Now my brother's like, "It's a net sum game, go get more customers." So like, you switch roles. But I learned that, I just think about... This is what I think about with social media. Social media has a conversion funnel against re-targeted banner ads, against all the funnels that are so effective online, is a much better lifetime value and percentage of wallet spent, than the other valuables. And that's where I think it comes in to play. I think when you come into the funnel through good context, that you to stick around longer. And that's just how would I think about. I think too many people are trying to get new customers. And I think that the energy is coming away from the current customers and I don't think they realize the word of mouth of their current customers can amplify more new customers than their hustle to go out and find new deer.

02:41 Gerber: When you are talking about encouraging businesses to keep getting bigger and getting bigger, but think small no matter how big they get, How can you do that in the long run, with every customer? And I think this goes beyond effort.

02:53 Vaynerchuk: Effort. It's not beyond effort and I'll explain. It's the mentality of effort. It's my religion. It's not what I was thought in school. It's my religion. That's it. It's like, why will I never miss a play of a New York Jets game? 'Cause it's my religion, like more so than anything else. It's the DNA of an organization. And that's where leadership needs to come in. I never believe companies because they don't have the leader that's willing to not run their company quarter to quarter, because they're a publicly held traded company, and they should actually do it that way.

03:26 Gerber: So, more short-term thinking than just long-term thinking all the time?

03:29 Vaynerchuk: Who is not thinking short-term? Everybody is. And listen, I may really lose. I may do an interview in 25 years from now and cry, and say, "I screwed up, I've kicked the can down the road too long. I didn't convert." I think about that. I turned 37 this year and I'm like, "Should I go in for the kill?" "Am I playing jab, jab, jab, right hook at a global scale?" I always say, and you heard me say this, "I'll buy the Jets when I'm 60 or 70." I never say that, "I'm gonna buy the Jets in my 30s or 40s." I'm not that guy...

03:59 Gerber: They might go up for a discount though sooner.

04:02 Vaynerchuk: But, you know what I mean? I know who I am. I'm a marathon runner. I will never win a 100-yard dash. But I'm telling you, when they run back into the arena and everybody's gonna be waiting for somebody from Africa, it's gonna be little old me running in and leading that marathon race. That's just who I am.