Gary Vaynerchuk: This side hustle can end debt and earn a struggling person up to $, in income
While flipping may seem simple, there are some barriers to entry: shipping costs, transportation costs and access to technology like a smartphone or computer required to monitor the retail sites, and list and sell items. There also is a lot of competition on auction sites like eBay and through Amazon's third-party seller marketplace — Vaynerchuk is not the only person to have this idea. Software firms have even developed algorithms that online resellers can purchase to keep track of competitive pricing trends on individual items.
Ryan Grant was able to quit his full-time accounting job to focus on an online retail flipping business that is now earning him six figures in profits a year. It all started because Grant wanted to pay down his student debt faster.
What Gary Vee thinks it comes down to is people's ambition: "It takes grinding. … I see people that are in debt that are like 'I'm not going to Marshalls' and I'm like 'That's why you're a loser.'"
"It's happening at scale across America," Vaynerchuk says.
It is actually happening across the globe, and not only at the lowest end of the retail market.
An app based in Europe called Depop claims that its users are making as much as $, reselling designer fashion items. Comments from sellers using Depop suggest that may be the exception to the rule — a few thousand dollars is more likely — and also often requires what amounts to a full-time job. But by one measure of market success, Depop's model is working: it recently raised $62 million in a round of venture capital financing led by VC firm General Atlantic.
No one should have any illusions that a side hustle is an automatic ticket to easy street: Nearly 1 in 3 American workers with a side hustle are still struggling to make ends meet.
Vaynerchuk admits in his #TrashTalk series that not everything can be flipped. But the "grinders" who can spot trends and are willing to hustle can turn a quick profit.
Check outDon't worry about getting a perfect credit score—This score is all you need via Grow with Acorns+CNBC.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.
Gary Vaynerchuk - Gary Vee Fans 0
Serial entrepreneur Gary Vaynerchuk is selling a new use case for NFT: Smart event tokens that have real value rather than digital art.
Vaynerchuks VeeFriends NFT collection will give buyers three-year access to his VeeCon business and marketing convention. Customers can buy the tokens with etherium cryptocurrency. But he sees a broader future for NFTs as a kind of membership for goods and services.
First Moves Julia Chatterley spoke to Vaynerchuk Wednesday.
Explain what you see in NFT and what you are doing.
Gary Vaynerchuk: Only two times I have been told Ive gone too far: Putting my dads wine shop on this thing called the internet and launched winelibrary.com in And when I started this show on this thing called YouTube and told people to use Twitter and Facebook to build it for Web And now we are here at Web This is going to take sometime but NFT is non-fungible tokens. iT will be important for everybody here and the reason I launched VeeFriends to help people understand its not just about the art that sells for $69 million. The thing behind the token is like a credit card behind the plastic, like a ticket behind the piece of paper you are going to a concert. The smart contracts are the big part of NFTs to impact everyones lives here. It took me months of hard core thinking of like how profound this was and I believe its there. Just one caveat: I do believe that 98% to 99% of NFT projects will fail as investments but thats similar to me as internet stocks in 99 and But Amazon.com was there. The internet changed our lives and the blockchain and NFTs will do that as well.
I have seen you say for a small business and making it practical is essential to understand. It is great for memberships, for clubs, for discounts. Why do you need an NFT and use this technology in order to do what people are already doing for customers already?
Gary Vaynerchuk: That was literally the question people asked me about the internet. Why buy wine on a computer? Heres why: When you do an NFT Lous Pizza Shop issue NFTs that make 1, tokens so now he sells those tokens. The regular pizza pictures just give you a 10% discount, when the gold gives you unlimited free pizza. That person that buys it owns the NFT and after six months can sell it on the blockchain. Lou gets a royalty on that transaction because you can put royalty contracts under these NFTs. The individuals that hold it when they sell it in four years on veefriends.com I make a royalty. In five years we are all going to have public wallets like public social media accounts and well look at each others public wallets and see the tokens there. The token is a marketing collateral. The way everybody in business needs a social media account to be relevant in is the same way everybody will need an NFT strategy.
My understanding of this in a way is to cut out the middleman.
Gary Vaynerchuk: I dont think anybody should have anybody in the middle if theyre capable. Right? If a talent is capable of building demand and monetizing then she or he should never have somebody take 10% managing them. I think you probably know this. I know this. Everybody knows this. Theres talent that doesnt want to do the business side of things, the marketing side of things so Ill give you something. An up and coming music artist or an author instead of taking a publishers money up front and then share the revenue with that organization, they can now sell to their social media audience an NFT and give them a percentage of the royalties of the future earnings instead of from a publisher.
Money and BusinessSours: https://keyt.com/news/money-and-business//05/06/gary-vaynerchuk-nft-is-the-next-amazon/
Gary Vaynerchuk: NFT is the next big thing
Vee amazon gary
Gary Vaynerchuck on Wish and Facebook Ads
I know, WTF is Wish and why was Gary Vaynerchuck talking about it?
Wish is the biggest threat to Amazon in the history of online shopping and most people have never even heard of the company. In fact, depending on who you talk to, Wish has generated between three and six billion dollars in revenue in each of the past few years.
But before I go into what Gary Vee may not want the masses to know, lets take a look at why Wish is such a big deal
Gary Vaynerchuck was speaking about Wish in a talk recently, an online ecommerce website, just like Amazon, set up by Danny Zhang and Peter Szulczewski back in In the latter months of , this emerging ecommerce giant had more than one million users on android/IOS platforms which is far less than what they have at the time of writing this article.
And thats just part of the story.
As it turns out, both Zhang and Szulczewski are former programmers at Yahoo and Google. In fact, both owners were an integral part of the Google Adwords project. Its true, developers from Google set up their own businesses all the time but there is some real significance in this instance and the following statistic tells an interesting story.
You see, even though you may not have heard about them yet, Wish has built a global reputation on Facebook ads. And although the precise numbers are unclear, its estimated that Facebook adverts account for up to 98% of their advertisement budget. Interestingly, the remaining 2% of this budget was used on NBA adverts and to buy a corner during the Floyd Mayweather/Conor McGregor promotion.
But what can we take away from this take from Gary Vaynerchuck on Wish?
What Does Gary Vee Wish for the Masses?
Well, we know that Facebook Ads can drain the swamp but some companies have clearly mastered the process. That is, we know that Facebook Ads can have a very poor return on investment for many people or businesses but Wish is a clear exception that proves the platform works or at least worked in the past. With this in mind, maybe Wish and their advertising strategy deserves a little more time than most of us have given the platform
Or maybe its a case of Who Moved My Cheese? from the marketing genius that is Gary Vaynerchuck.
In other words, as everyone starts running to Facebook to set up their next advertising campaign, I wonder where Gary Vee is headed that will keep him ahead of the masses.
Disclosure: Im a huge Gary Vee fan and you can watch the talk here!
Derek Cullen has been working as a professional content writer for more than 3 years. He provides ghost writing, article writing, and copywriting services. His educational background in marketing, banking and tourism has given him a broad base to approach many topics. His content is focused on striking a balance between information and SEO - but never at the expense of creating content with value. Derek is always eager to work with new clients and takes pride in providing an excellent customer service experience.
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 investment fund. Gary also currently hosts The #AskGaryVee Show, a way of providing as much value as possible by taking questions about social media, entrepreneurship, startups, and family businesses and giving his answers based on a lifetime of building successful, multi-million dollar companies. The show is also available as a podcast on iTunes, Stitcher, and SoundCloud. Gary is also a prolific public speaker, delivering keynotes at events like Le Web, and SXSW, which you can watch on his YouTube channel. He was named to both Fortune and Crain’s 40 under 40 lists in consecutive years, and has been profiled in the New York Times, Fortune, and Inc.Read more Read less
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Gary Vaynerchuk on Amazon, Facebook, Uber and the New York Jets
Why Amazon Will Win
In a discussion about some of the largest tech companies, Vaynerchuk made it clear that, at the end of the day, he thinks Jeff Bezos and Mark Zuckerberg will emerge as big winners. In fact, in the middle of what everyone seems to agree is a bubble for early stage companies, Vaynerchuk was insistent that Amazon and Facebook are grossly underpriced.
Zuckerberg, said Vaynerchuk, is one of the all-time great entrepreneurs. He day-trades attention. He stole Instagram, Vaynerchuk said. He moved a desktop company to full mobile when it was painful and cost-prohibitive. Vaynerchuk also predicted Facebook will easily navigate concern over Russian use of the site, as well as any backlash against large tech companies.
When asked what Amazons next move was, Vaynerchuk didnt hesitate: Being sued by the government. But he was still believes Bezos could be a better entrepreneur than even Steve Jobs. If the government doesnt stop [Amazon], I think they could win the whole f***ing thing, he said. When you start understanding that Alexa is this close to being the next search engine, when you understand that youre brushing your teeth and you run out of toothpaste and you say, Alexa, reorder it for me… They are an unbelievably crafty business.
He didnt think that Amazons success was necessarily bad news for smaller, independent merchants and manufacturers, though, suggesting instead that those companies should just sell direct to consumer. Then Amazon has nothing to do with you.
On Uber, Vaynerchuk was less sure. He said speaking about Uber was difficult for him, given that Ubers ousted founder and CEO Travis Kalanick is, one of my dear, dear friends, one of the first friends I made in tech… I really adore him. I understand theres a lot of things in the press that have been tough. … Im hopeful, like when you care about somebody.
When asked to name an interesting up-and-coming entrepreneur, Vaynerchuk named Rachel Tipograph, founder of MikMak. Though he didnt know exactly what her company did, joking shed pivoted it six times in the last 15 minutes, he said Her tenacity is intoxicating.
Then there are the New York Jets, which Vaynerchuk has a well-publicized ambition to own someday. Fu asked how close Vaynerchuk was to buying them. His answer was simple: “Closer.”