This is a podcast episode (Capitalism.com) featuring Ryan Daniel Moran, Sam, and guest Gary Vaynerchuk (Gary Vee). The episode includes promotion for the Capitalism conference (Dec 7–9 in Austin) and a Viral Launch ad, and a conversation about entrepreneurship focused on balancing experimentation/‘white space’ with practical execution. Gary Vee emphasizes allocating time to new platforms (shiny objects) while doing heavy practical work, describes working long hours to exploit new opportunities (examples: Vine, Snapchat, Instagram), and states a personal mindset: he prefers the process to the wins.
Chapters
You're listening to Freedom Fast lane presented by capitalism.com this is the show about building businesses and investing the profits so that you can live life on your terms. And now your host, the future owner of the Cleveland Indians, Ryan Daniel Moran.
Hey, fastlaners. Ryan here.
Welcome to the show.
Before we jump in, I wanted to personally invite you to join us at the capitalism conference this December 7th, 8th and 9th. This is made for physical product sellers, Amazon sellers, entrepreneurs with a big vision, people who are building something bigger than themselves. It's for entrepreneurial empire builders. If you are building something with at least a seven figure potential, probably have even bigger sites set than that. You understand the importance of dialing in your marketing and sales and you're investing in things that give you cash flow and things that produce wealth over the long term. Then you need to be at the Capitalism conference because you are going to be supported in each of those three areas. We brought in some of the best advisors in the world, including celebrity keynotes like Daymond, John Russell Brunson, Kimbal Musk, the founder of the Honest Company, all those people that you want to hear from who can also come back and give you the playbook to getting the results that you want. Whether that is building a million dollar company, a billion dollar company, or just having an extra 10k a month in passive cash flow so that you can live the lifestyle that you want. They're all going to be there advising you at the Capitalism conference. So I'm inviting you to join us this December 7th, 8th and 9th in Austin and you can grab your seat@thecapitalismconference.com now. Enjoy this clip.
I want to talk about the balance or the difference between staying on the cutting edge and letting distractions keep you.
From doing what's productive.
Because.
There'S a tendency of what's hot? Let's go here. You called it white space. Like let's go after this. Let's go. There's that commercial we're going all in on.
Woo. Woo.
And there's this idea of whatever's hot, I'm gonna go there. And yet those also can be shiny objects. You even mentioned you've cut out everything but Facebook ads.
Yes.
So what's the difference there between.
Going for white space and then going all in on what's actually moving the needle?
This is where hard work really comes in handy. When you're like me and you work 15 hours a day. If you're deploying 10 hours a day on practical execution and five hours a day on where's the future, you can pull them both off. I'm being dead serious. Like, if you're only gonna work eight hours a day, well, then it gets harder, right? Cause you're only spending six on practicality and two on the future. Or just eight on practicality. I've made all my wealth on being right about Snapchat and Instagram and Facebook, but I had to go through a lot of social cams and Yobongos and Plurk, Plurk and like, you know, and like. And I spent 40 hours on Socialcam when it was exploding in 2009. It completely disappeared. But what I learned on human behavior on it helped me be very smart on vine and Instagram video. So look, to me, going for the shiny thing is going on the offense, and you have to do it. And I think you have to allocate 20, 30% of your time and energy to it.
And.
And you know, I'm a big believer in it. It doesn't seem like what most people think from a practical standpoint. I do believe the fact that I work so many hours helps me. When vine came out from midnight to 4 in the morning for three straight weeks, I played on Vine. Literally slept three hours a week a day for like three weeks. I just needed the time. I had it figured out it was getting too hot. I knew it was big, but I was busy as balls. That was it.
Hey, fastlaners. You all know that I made the majority of my wealth by building, scaling, and selling physical products companies. And now I run a fund and a firm that purchases them. And when we want to grow our businesses, we heavily rely on the services of Viral Launch. You've heard them on the show before. I'd highly recommend that you go and listen to the episodes with Casey Goss because they have more data about what's working on Amazon.com, what products you should sell, how you should optimize your listings, what keywords you should go after. They have more data on that stuff than pretty much anybody else on the planet. So we rely on them to look at markets we should go into, what products we should release, and I would recommend that you at least check them out. And when you do, use the coupon code Capitalism to get a fat, hefty discount. We use them pretty heavily as a tool in our tool belt alongside just about everything else that we talk about here on the podcast. So head over to viral-launch.com to check them out, and when you decide to test them, use the coupon code Capitalism at checkout. To get a big, fat, hefty freedom fast lane discount.
I just made the commitment. I mean, just. It's, you know, it's just what you want. But again, I want to buy the New York Jets. It's Gonna cost me 7,8 billion by the time I'm ready. Right? I have a funny feeling. And as a matter of fact, I really wish I. You know what? I don't know how you feel. I'm fucking pissed. I want to buy the Jets.
I totally get that.
I wish I just wanted to be what I am now and fucking chill.
Life would be a lot easier if I had smaller goals.
I mean, it's exhausting. Like fucking fuck, you know? But I can't help it. It's my oxygen. The climb is what I live for. I definitely know that I'm a true bred entrepreneur because I don't like success.
Unpack that.
What do you mean you don't like success?
But I don't like the wins. I like the process. As a matter of fact, the winds suck. Like, my wife has the funny joke with me. Like, vacation time with my family is my fucking life. And my wife and I have a funny joke. The second we land, the plane lands. I get depressed. It's the week before that. I live for. Like, that's how I'm wired.
I want the process of trying to buy the jets. I made a video seven years ago, holding up a newspaper. Like, I was like a hostage, like, to prove the date. Not being smart enough to realize I was gonna be old by the time it actually happened. I wanted to prove the date. I made an entire video. I'm starting to talk about it a little bit, so I wanted to hold onto it forever, but I got fucking loose lips. It sucks. Anyway, I made a video where I basically claim that this is the worst day of my life. And I'm gonna play it the day I buy the jets.
So AJ and I, my brother and I, started having a dinner once a quarter where we only can talk about good news in sports because our relationship has defaulted into only negatives. And our days are like this. Hey, we just won a $10 million account with Mountain Dew. Hey, this is great. This is Great. We hired 43 people. This is great. This is great. Hey, Sally and Karen are fighting. Hey, the Dove client is pissed about this. And it's just. We don't even acknowledge these fucking amazing things, that we're just firefighting, right? And that's what entrepreneurship is for me.
