#QOTD: What are you focusing on the MOST right now?
#SIDE QOTD: What do you want from me, AGV wise? 🙂
00:48 – I sometimes feel that giving away some of my best work for free might mean others perceive it as less valuable. Is this a true risk, or is that where right hook balances it all out?
03:05 – Should a new small business join a local chamber of commerce to build a brand in the community they live in? I’ve never had much ROI on networking groups.
04:15 – For the first time, my company is attending conferences to do live events. What value do you place on getting out there and pressing the flesh to expand your fan base?
05:14 – In order for us as a orchestra/choir to grow, how do we get corporate sponsorships from bigger companies?
07:41 – When it’s all said and done, how would you like to be remembered?
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Is there a risk in giving away your best work for free? Of course. Giving away awesome work for free has been my gateway drug to so many great opportunities. But best work needs to be defined for the category you’re in. I’m blown away by the amount of people who don’t realize that their best advice is exactly what you should give away for free. But if you’re a painter, and your best work is the most amazing painting you ever made, and you give it away for free, that’s maybe a different game. But maybe you strategically gave it away. Like to an important museum, maybe. Or to a billionaire that puts in a prime spot in that home, could that then become the gateway to more?
The problem with this debate is that when you are doing something for free, it needs to be strategic. Because what you are looking to do by giving away something for free is create leverage to then do something that is not for free, right? Right. DRock could have made that first video for someone who is not me, and it might not have panned out the same. He might not have received that ROI that he got for doing a video for free for me.
I think that people look at this too much as a blanket statement. For me, everything I give away for free has strategic purpose. I understand WHY I’m doing it, and that’s why it becomes so much easier to do, even though I don’t always expect an outcome from that action. That becomes the big part of this. Way too many people do stuff for free and that expect this windfall behind it. Then when it’s not delivered, they become disappointed; and in that disappointment, they don’t follow up, they don’t try it again. They don’t repeat that action over and over, which actually has more upside than anything else.
Three out of five times it will bring you some kind of value. Don’t focus on the two out of five.
Gary Vaynerchuk builds businesses. Fresh out of college he took his family wine business and grew it from a $3M to a $60M business in just five years. Now he runs VaynerMedia, one of the world’s hottest digital agencies. Along the way he became a prolific angel investor and venture capitalist, investing in companies like Facebook, Twitter, Tumblr, Uber, and Birchbox before eventually co-founding VaynerRSE, a $25M angel fund.
The #AskGaryVee Show is Gary’s way of providing as much value value as possible by taking your questions about social media, entrepreneurship, startups, and family businesses and giving you his answers based on a lifetime of building successful, multi-million dollar companies.
Gary is also a prolific public speaker, delivering keynotes at events like Le Web, and SXSW, which you can watch right here on this channel.
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Wine Library: http://winelibrary.com