Great answer: Best Business To Start in 2018

Great answer: Best Business To Start in 2018

Great answer to a common question: Best Business To Start in 2018

►Q: Why didn’t you start a mobile development shop?

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Gary Vaynerchuk is a serial entrepreneur. Fresh out of college he took his family wine business Wine Library 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 his own VC.

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47 Replies to “Great answer: Best Business To Start in 2018”

  1. This is just superb, been searching for "new business enterprise ideas" for a while now, and I think this has helped. Have you ever come across – Bavordcon Business Bohemian – (do a google search ) ? Ive heard some super things about it and my buddy got cool success with it.

  2. "Marketing Myopia" explained and killed.
    I think Vaynermedia is, and will stay, successful and ahead of the game because it is Communication oriented rather than focusing on a development shop or anything like it. You have to see the big picture and find all the different ways to get you there.
    Gary has said this before, and I think it is an excellent example, take a look to snapchat and instagram stories users; if you fail to make a following on both apps, you are dependent in an environment that is not rock solid. He practices what he preaches; he puts content out there for all social media AND he also has his books and company. He is a living breathing case study of 4P's [product, price, place, promotion].
    Theodore Levitt wrote about Marketing Myopia and how companies were failing not due to market saturation but due to bad management. The greatest quote of Marketing Myopia is: "The reason they defined their industry incorrectly was that they were railroad oriented instead of transportation oriented; they were product oriented instead of customer oriented".
    That is a common characteristic of failing businesses; they focus so much on what they sell and they forget the "Who The Fuck Am I Selling To?!!!". (see VINE)
    You are selling, or must be selling, whatever it is your customer wants to buy. The strongest don't survive, the most adaptable do. See Starbucks and Coca Cola, they are customer oriented companies and they put themselves in the "entertainment industry". You are not buying a product; you are buying the experience. Coca Cola is an established company, yet is spending millions on marketing and advertisement to continue building customer relationship.
    Every single purchase covers a need, whatever need that may be, you need to know multiple ways to cover it. If you define your company by the product rather than the need that this product covers, eventually you will become obsolete.
    The same will happen if you focus on just one product. Warren Buffett says "never rely on a single source of income". On the long run one product won't ensure sustainability and/or growth for your business, so invest accordingly.

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