Transcription
Is um what are some of the other business models people are missing do you think? Like, you know, Wine's technically easy. Here's a product, sell the product, tell them why they need to buy the product. You know, media is reasonably easy. I have an audience, you want my audience, you give me money to get to my audience.
What are some of the other business models that people need to know about that they may be missing?
Um, I think that let's take a step back. So, I think it's a great question; I think it's the question. Listen, I remember I look back, I got sucked into being a little bit more romantic too back in '07-'08-'09. I was like, what are all these people doing? Do they need a business? And then I got caught up in the fever myself of like maybe forgetting about it or not worrying about it as much, or maybe I was just so damn busy.
But you know, when I hear you say that, all that's happened has made a hell of a lot of sense to me. Yeah. You know, to me, if you don't know how to—if you don't have something to sell, now a lot you could sell yourself, you know? And the few elites have been able to do that. Whether they sell books or public speaking, those are all ways to monetize.
Um, but you know it's kind of like interesting. Like when I hit you up the other day on Twitter and said the magazine thing you're doing is interesting, I was—I’ve been thinking about that quite a bit. I've been thinking about The Hacker News, Reddit, just for marketing; like there's things to do, right?
Um, I think a lot of people don't know how to sell a product. So here's a couple things I think. One, I'm always worried that a lot of people default into selling information products and they overprice it, right? They want like a thousand dollars for their ebook when you and I are putting that information out for free. So I don't want that.
Um, a physical product is always interesting, right? So listen, there's a lot of people who could have sustained it. Here's one. It's not where I went, but I easily could pay rent or elude a day job by selling T-shirts of my favorite quotes that I've said, right? If you're big enough, you know? So there's products that you can turn out of the things you've done.
The other thing you can do is, for me, I applied it to the business; meaning I created VaynerMedia, but I didn't make it about me. I actually built an actual business, right? An agency, they're out there. So you can build an agency, you can—you know?
Um, and the other thing that I think you can do is—and I've been waiting to do this, Chris—and actually I see this being a win for you in your career as an outsider watching it. I'm very into teaming up with a product. So I'm waiting for somebody to come along and say, "Let's take this and say this is a new ketchup, and it's delicious. Can I give you—you know?"
And I just think this is it, and I jump in, and I own 50% of it, and I use all my marketing ways to build. You know if there's a soda company up in Boston that teams up with you and you get 10% of it? So like to 50 with Vitamin Water, William Shatner with Priceline, all these, you know, legendary moves.
Like that, you're totally right. But those guys, unlike us in my opinion, did endorsement deals. And I'll take those if somebody wants to come. If somebody wants to come and give me a point to do an energy drink for the entrepreneur Nation, I'm the Crush It guy. I could consider that.
But I'm actually talking about you taking a year and becoming, in essence, the CMO, the marketing partner. You know, to me, I can apply—like we all spew all these ideas—like my long-term plan is to execute it to building brands, and so you can apply it to that.
I mean, listen, let me give you another example. There's a lot of people in the space that I respect that have gotten day jobs, and I say, "My God, if they would have just went to a day camp, let's say a camp, a summer camp, and said—get, you know, if they were actually business people, that's the conversation here—and said, 'Give me 15% of this day camp if I market this stuff on Facebook, Twitter, Tumblr. If I do content marketing, if I do Outbrain, Upworthy, if I do all these things, this business will be worth more.' That's something that's on the table for a lot of people if they want the risk, right? Right. It's being a business person and that's a truth I was thinking.