The first has to do with culture, and the inevitable shifts it makes. And of course you want to maintain culture if it’s good; you want to keep that sense of family and everything good that came with being smaller. A natural response to that might be to try and instill the love you have for your company in everyone at the company.
But let me tell you this: as the founder of the company, if you think anyone is going to love the company as much as you do, you are out of your mind.
You own the business. How can you expect them to love it as much as you do?
Here’s what you do instead.
Get over the fact that the employees will never love it as much as you. If you’re lucky, there will be people who love it half as much as you. Even if someone loves a fraction as much as you do, you’ve won.
This second one is quite simple: don’t try and cash in too quickly. It can be very alluring to start getting yourself nicer things. A nicer lifestyle. But the way to scale and grow is to have the dollars. I run my businesses early on at no profit. Some people say “Easy for you now, you’re rich.” But that’s bullshit. I was twenty-eight years old, running an enormous business, making $40,000 a year. But it let me build a $30 million business. That’s eating your own dog food.
There are so many different directions a company can take. But if you focus on remembering the two things above, good things can happen.
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