Watch This If You Think Running a Business is Easy | Nick Bell Interview

– [Gary] You know I get home very late. 11, 12 is pretty consistent
for me, weekdays. So, I’m exhausted after
18 hours and I bring a lot of energy all those hours. – I imagine. – You know, when I think
about my school career, those eight hours, I probably
put out 40 minutes of energy. I see people do that at work all the time. They work for nine hours but they’re really working for and hour. (logo booms into place) – Gary, thanks for your time, mate. – Real pleasure. – [Interviewer] Mate,
just a few questions. So I’ve been watching Vaynermedia for the past few years, going
through some insane growth. How do you maintain the quality and the growth at the same time? – By recognizing that I
don’t have the luxury of picking quality. Meaning, I’m not ideological or romantic. All I have to do is
deliver for my customer, more than they get from somebody else. And I think a lot of people
make quality in explosive growth and internal
insecurity or ideology. And for me, I just think,
will this client get more bang from their buck from me than if they hired somebody else? And truth be told, I think
that we’re built in such a contemporary way, that is
actually proper to today’s world, that it’s highly
likely that even on a bad day, the million dollars you
spend with Vaynermedia is going to be a far more
efficient spend than you would spend with somebody else. Which allows me to not be
crippled and then I’m in charge of quality control. It’s a game of firing. It’s having the humility to
admit your mistakes and move on from Senior Executives. And so, the only thing
that matches my confidence is my humility, so I’m
comfortable in admitting mistakes through action and I’m not
crippled by the quality question because my client will fire me if I’m not delivering on quality. Make sense? – [Interviewer] Yeah, makes sense. In the early days, we grew
from one person to 400 in about two years and our
quality probably wasn’t there, because we didn’t have
the systems and processes in place that you guys
destined to lean toward systems and processes. ‘Cause you guys do at a massive scale now. – We probably do, because
whether it’s our CFO or other business leaders,
there’s probably a lot of Ts and Is being crossed by
people outside of me. – [Interviewer] Yeah. – But I just, you know, I
think, I think bad systems tend to come at the expense of our margin, more so than the expense as
a client service provider, at the expense of clients. Clients take advantage of
bad systems by agencies, ’cause they get more out of them, right. So, because I want to
be disproportionately aligned with my client,
I’ve almost been happy that they can do that. I don’t feel any anxiety
of them whispering to their executive branch,
“We’re getting a really good deal with Vayner,
they’re scrappin’ super hard, “you know, they’re not adding costs to us, “or billing us for extra hours.” I think that’s our strength. – [Interviewer] Okay, great. So now you’ve got L.A., New
York, London, and Tennessee? – We do have an office
I Chattanooga, Tennessee and now we’re opening up Singapore. – [Interviewer] Oh, you’re in Singapore? – And Chattanooga has
switched to the Sasha Group, so Vaynermedia now sits
under a holding company I created called VaynerX. We started a separate
agency for small businesses, because 90% of the inquiries
to our website were from SMBs but we were built for Fortune 1000. – [Interviewer] Is that here in the U.S.? – And globally, but predominately U.S. And so we started something
called the Sasha Group to service them and the
Chattanooga office became a Sasha Group office,
mainly because I anticipate eventually opening an office
in Atlanta for Vaynermedia, because I’m very fond of that market. So yes, those are the places we are. – [Interviewer] So you have an
office in Singapore, so do I. Hope we’re not competing with each other. – I mean look, I think
you’ll appreciate this and this will make sense to you. From the little I know
and our banter, I always believe you can’t slow down winners. – [Interviewer] Yeah, I love competition, it makes you better. – Yeah, and honestly for
me, it’s like you know, everybody does it differently,
for me, if we’re competing in that market, it’s not
that I’m gonna look at what you’re doing, like I’m not
that kind of person that will look at what you’re
doing, appreciate it, and try to add it to my game. Which I think a lot of people do well in sports and business. My thing is that I’m so
focused on what I’m doing and I’m making assumptions
that you’re going to do great too, and there’s so much abundance. Do I want to lose a pitch to
you for Nike, Southeast Asia? Absolutely not. Do I think that there’s 95%
of other people that stink and if somebody’s good, they
deserve to win business? I absolutely do. I think it’s very bad business
to suppress or be petty with other winners. I watch other do it with me
all the time, and I laugh. I’m like your keyboard hate is
not going to stop my growth. – [Interviewer] And it’s common. – It’s super common. I would argue keyboard
hate fuels my growth. – [Interviewer] That’s good, mate. So when are you gonna
open up in Australia, that’s the question? – Soon. You know whether that’s
two years from now, four years from now, nine years from now, I’d like to be in Australia at some point. I’d like to be in mainland China. I’d like to be in Central America. I’d like to be in South America. – [Interviewer] Central America. – Yeah. – [Interviewer] I’m
opening an office there in the next six weeks. – Good for you. – [Interviewer] Yeah, it’s great. – Where are you lookin’ at? – [Interviewer] Panama. – Very cool. – [Interviewer] Yeah. So I think there’s a lot
happening over there, but yeah. – There’s a lot happening
everywhere in the world. And I think having a global
footprint allows you to adjust to different micro-scenarios. Listen, I’m building
Vaynermedia to buy businesses and run those businesses through the communications infrastructure. I want to be able to, if
the global economy melts, and Vegemite is for
sale, and I can buy it, and rebrand it, or brand
it in Central America. And I think that’s the arbitrage. I want to be in a structural
position to do that and that’s why I want
to be in every market. – [Interviewer] Yeah,
exactly, makes sense. So, since you launched
Vaynermedia, what’s been the biggest mistake or
biggest fuck up you’ve had in the past eight years? – I mean, I’ve made an
enormous amount of mistakes. I think it’s taken me a
long time to understand the buying decision cycle of clients. You know, I come from
retail so November, December is when I get serious. And I think conditioning-wise,
I haven’t been as strong in June, July, August,
September to lock up clients for the next year. I think that we’ve made
endless hiring mistakes. I think we’ve created
entitlement in the first five years that led to a little
bit of a tough patch in year six and seven. I think that we’ve been passive
in going after business. So much business comes our way. We’ve not diversified out portfolio in more B2B clients, ’cause we
do it well, airlines, hotels. I mean I could probably sit
here for 54 podcasts and talk about the things I’ve done wrong. – [Interviewer] Your personal brand is basically intertwined with your company, is that gonna to
stay like that in the future or are you gonna separate it out? – I think that it will stay
that way, though now that we’ve laid down the foundation,
I do believe that we are now prepared to build the
brand of Vaynermedia itself in headlines and work. So it’s gonna stay the same
but it may seem that there is a little bit of a
separation because I think, I on purpose, kept Vaynermedia’s
size and scale quiet. I thought it was a competitive advantage. But now we’re so big, it’s
just not on our radar anymore. So now I’m more comfortable
with it being out. – [Interviewer] Mate, the
biggest challenge I have when I get home from
work, I can’t switch off. – Right. – [Interviewer] How do you
switch off when you get home? And do you switch off,
that’s the question? – I don’t switch off but I usually collapse and go to sleep. You know I get home very late. 11, 12 is pretty
consistent for me weekdays. So I’m exhausted after 18 hours. And I bring lot of energy all those hours. – [Interviewer] Yeah, I can imagine. – You know when I think
about my school career, those eight hours, I probably
put out 40 minutes of energy. And I see people do that at
work all the time, they work for nine hours but they’re
really working for an hour. But for me, I’m going 15
hours and I’m going 15 hours, I’m going 14 hours and 52 minutes. I don’t turn off but I
think I just break down and go to sleep. So, yeah, I’m never off. I’m only on to something. – [Interviewer] Something. – Yeah, I’m just, things like
sports cars, we were talking about before, those are
good distractions, right? Like when I was flying here
today on the 14 hour, 15 hour link from L.A. to here,
I slept eight hours, but the other six hours
I was on Ebay looking for arbitrage to buy soccer carts. – [Interviewer] Really? Good stuff. – So I’m not off but I’m doing something that is not that serious, so that allows me to, you
know, somebody next to me may be watching an Avengers
movie, and that’s how they unplug, or somebody
else might be playing a game. I tend to unplug my doing more business. – [Interviewer] Good stuff. And mate, you’ve got your
fingers in many, many pots. Over the next five years,
what do you think the next big industry is, moving forward? – I’m very fascinated by TV and film. – [Interviewer] Okay. – I think that as I’ve
learned more about Hollywood, I think my skillset of
storytelling and getting people to pay attention will
probably play well there. So I’d be very surprised if
I don’t, five years from now, have an actual film, an
actual television shows in the system. Television shows probably
on OTT platforms. So that’s the one that
seems obvious to me. – [Interviewer] What are your
thoughts on alternative meat? – On alternative meat? I think that– – [Interviewer] I know
it’s a random question. – No, it’s a great question,
actually, I really like it. I’m not super educated about it. I know it’s done extremely well publicly. I know that one of our
athletes in VaynerSports did some content for it
and we negotiated instead of a small fee, equity,
which turned into him making 80 times more
money than he would’ve. So good job by my brother A.J. and by Derrick Morgan the football player for being smart enough to take the equity. But I’m super undereducated
on its merits or why people are even so, I just
don’t know a lot about it. What about you? – [Interviewer] Man, I’m
a massive believer in it. I think, the environmental
and health benefits, I think it’s gonna take off. – Tyler, didn’t the FDA
approve like red ink into, there’s some stuff that just
happened in the U.S. that– – [Tyler] Will allow them
to be in supermarkets. – Will allow them be in
supermarkets and adding red dye, which a lot of people struggle with. Again, these are all headlines for me. One of the things that
I’m very passionate about is, I come in hard on my
opinions on things I know about. And as you can see for the
last minute, which is why I really appreciate your
question, I’m unbelievably passive when I’m a
headline reader, and enjoy answering I don’t know. – [Interviewer] Yeah, I had a
Beyond Burger in the U.S, and absolute game changer, amazing. Mate, how important do you think it is for business owners to post
content on the (mumbles)? Whether it be Instagram of Facebook. – I think it’s, I think
it gives you more of a chance for good things to happen. – [Interviewer] Lisa’s been pushing me to post content for the past few months and I’m seeing a lot of benefit from it. – Well, if I was as
handsome as you, I would be posting probably 200 times a day instead 100, you know. Honestly, you take what you’ve been given. I think, to me it’s like why not? Like people are so fear based. They have a big business and they’re like, well I may post something. I’m like, if you, I promise
you, if you have racism or sexism in your heart,
it’s gonna play out whether you post on social or not. I don’t know what people are scared of. I only see benefits from it. It leads to awareness. Which leads to consideration. Which leads to purchasing. And so, I think it’s important
to not be full of shit. Which is what I think a lot
of people struggle with. But I think putting out
content of things you know, is a big, big move. – [Interviewer] Lastly, when are you going to buy the New York Jets? – You know, I really think
that if I audit my behavior, that I’m in line 20 years from now. – [Interviewer] Okay, that’s,
I mean that’s 63, no 43? – Yeah, I’ll be 63. – [Interviewer] Yeah, 63. – Which I consider extremely young. – [Interviewer] That’s young. Yeah, I just don’t do behavior
that leads to quick cash. So my intuition is that I’m a
tortoise in a hare’s costume. I’m very patient. I’m building a very slow machine. I happen to be a frantic energy guy, but my behavior is quite
calculated and slow. You know, it was fascinating
for me to hear you say are you involved in the
business in a world where currently, I am not only the
CEO and COO but we are in hiring for a Chief Strategy Officer and a Chief Creative Officer, and I’m currently holding those things down too. – [Interviewer] So, you’ll
run those interviews? – Not only am I running those interviews, I’m the active CSO and CCO. Like the GCDs report to me, this– – [Interviewer] How do you sleep? – Easily, because I empower good people. I don’t micromanage. I’m not crippled by micro-setbacks. I know how to scale. – [Interviewer] That’s tight. Mate, thanks for the time. – Thank you. – [Interviewer] Appreciate it. – Appreciate it. – [Interviewer] Cheers, mate. – Awesome.

25 thoughts on “Watch This If You Think Running a Business is Easy | Nick Bell Interview

  1. While I was aware that running a business takes a lot, I wasn't expecting it to take as much as it is.

    After being inspired by you, Graham Stephan, Marco's Whiteboard Finances, and Thomas Frank, I've started working on setting up an online business. And even just the setup process is incredibly consuming. It's taking a bit, due to being disabled and needing a lot of medical time, and I'm learning a lot about what exactly the work is necessary to run a business. It's a little overwhelming, but I'm keeping at it.

    As a side thing, I started on Tik Tok, and man – the interaction and response is just so much higher than Instagram ever was for me. So thanks for pushing it's existence and importance. <3

  2. You'll never work harder than working for yourself. You may not have a boss, but that position has been supplanted by your customers. But if you truly enjoy what you do and put forth actual valued services and/or products, the journey will be one filled with fulfillment. Thanks Gary!

  3. Running a business is HARD.. And it is so great that Gary is pushing that message of how hard it is to be an entrepreneur. In a day and age where every one is trying to FAKE IT..

    This man has really transform my life with his videos and i am following my passion of being a CONTENT PRODUCER because of him.. 💙🙏

  4. He is working really hard and provides so much value for us! Gary is a huge inspiration for me and my channel! Keep it up! 🙂

  5. Business is from far the more complex thing I know, because there are no true ways to do things, and everything can go wrong tomorrow. This is a big game of listening understanding and doing the thing you think is right

  6. Thank you Gary! Riding the wave of a business with the ups and downs. Nothing can knock me down just stay morivated and keep powering through. Take the rough with the smooth🙏🙏

  7. 4:15–4:17 “I always believe you can’t slow down winners”

    Gary every winner has been slowed down by some traumatic phase weather crippling physically, financially, mentally or emotionally.

    Every winner (no exceptions with evidence to back their stories before the win or winnings).

  8. Running a business is never really easy. Even if you have “passive income” you worked really hard to get there!😁💪🏼

  9. It’s not easy. I’m a musician and I feel like I can’t JUST make music… I have to market, know how to mix and master a track, and find new people to hear my music. It is hard, but it is my passion. So it is worth it

Leave a Reply

Your email address will not be published. Required fields are marked *