Podcast Summary
Insights into the NBA All Star Weekend and Running a Sports Franchise: Gary Vaynerchuk discussed the excitement of the NBA All Star Weekend's return, Ryan Smith's unique background, and valuable insights into sports franchise ownership and entrepreneurship.
Gary Vaynerchuk had an enlightening conversation with Ryan Smith, the owner of the Utah Jazz, about the upcoming NBA All Star Weekend 2023, running a sports franchise, and life advice. Gary will be attending the event and hosting a Q&A booth at the fan experience. They discussed the excitement of bringing back the "jam session," a basketball convention with 14 full-court basketball courts, which was a must-have for Ryan when the Jazz took over. The podcast also highlighted Ryan's unique background as a youthful and internet-age entrepreneur turned sports franchise owner. Overall, the conversation provided valuable insights into the world of sports, entrepreneurship, and the upcoming NBA All Star Weekend.
Utah Jazz: More Than Just a Basketball Team: The Utah Jazz is a community event and cultural hub, with annual All-Star weekend attracting 175,000 sq ft of convention space, a large youth basketball program, and partnerships for concerts and pop-up shops.
The Utah Jazz basketball team is not just a sports organization, but a community event and cultural hub. The annual All-Star weekend is a prime example, with 175,000 square feet of convention space for brand activation, a large youth basketball program called Junior Jazz, and partnerships with other entities like Cactus Jack for concerts and pop-up shops. Owning a sports team, as Ryan Miller discovered, is different in reality than in ideology. The Jazz had been in the same family for decades and were not for sale, making the opportunity to join the NBA a unique and valuable experience. Miller expressed concern about the potential pressure to expand his ownership beyond the Jazz, likening it to the feeling of wanting to buy multiple sports teams. Overall, the Utah Jazz All-Star weekend is a testament to the team's commitment to bringing together basketball fans, young and old, and activating the entire city.
Missing opportunities and emotional connections: Passion, persistence, and emotional connection can lead to fulfilling opportunities, but timing is crucial. Utah's growth in the B2B tech industry is a hidden gem often overlooked.
Passion and persistence can lead to fulfilling opportunities, but timing and emotional connection are crucial factors to consider. The speaker shared his personal experience of missing out on a potential team ownership opportunity. However, he stayed true to his dream and eventually got a chance to be part of the Utah Jazz team, which he deeply cares about and understands due to his fandom. The speaker's emotional connection to the team and community, and his desire to win, make his involvement even more meaningful. Additionally, Utah's growth in the tech industry, particularly in the B2B space, is a hidden gem that has significantly impacted the state, but often goes unnoticed.
Utah's Innovative Tech Hub: Utah's tech industry thrives with major companies and successful startups, leading to low unemployment and growth. Hosting events like the All-Star Weekend showcases Utah's innovative spirit and potential as a tech and entrepreneurship leader.
Utah is a hub for innovation and entrepreneurship, particularly in the tech industry. The presence of major tech companies like Facebook, Google, and Amazon, as well as successful startups like Ancestry.com and Qualtrics, has led to significant growth and low unemployment in the state. The All-Star Weekend in Salt Lake City is a prime example of the state's ability to host large-scale events and showcase its innovative spirit. For entrepreneurs, hosting events or conferences can be a valuable opportunity to build networks and showcase their own innovations. The All-Star Weekend is a unique chance for Utah to shine on a national stage and demonstrate its potential as a leader in tech and entrepreneurship.
Thoroughly planning an event with a 'dance card' and notable guests: Thorough planning, anticipating challenges, and prioritizing human experience are crucial in event organization.
Curating a well-planned event involves considering every detail, from scheduling activities to managing logistics, and anticipating potential challenges. The speaker shared his experience of organizing an event, V Friends, and the importance of having a fully curated experience for attendees. He discussed the use of a "dance card" to plan out the event and fill it with activities, bringing in notable guests like Cactus Jack, and ensuring adequate transportation for attendees. The speaker also emphasized the importance of human experience and building relationships, using his experience as a fan and later owner of a sports team as an example. Despite the best planning, however, unexpected challenges like inclement weather can still arise, and it's essential to be prepared for these as well. Overall, the key takeaway is the importance of thorough planning, anticipating challenges, and prioritizing the human experience in event organization.
Managing opposing emotions in leadership: Effective leaders in sports or business must balance deep personal connections with tough decision-making, learn from Danny Ainge's candor and authenticity, and focus on the organization's best interest.
Effective leadership, whether in sports or business, requires the ability to manage polar opposite emotions, including deep personal connections and tough decision-making. The speaker shares his experience in the NBA, where he had to transition from fan to decision-maker, and the importance of candor and authenticity, as exemplified by Danny Ainge. Ainge's reputation for honesty and transparency is respected by players, agents, and other GMs, and his approach to relationships and decision-making sets a valuable example for leaders in any field. Managing emotions, being upfront and honest, and focusing on the best interest of the organization are essential skills for success.
Embracing Change in the NBA: Change can be scary but leads to growth and opportunities. Embrace it with an open mind and positive attitude.
Change can be scary but often leads to growth and opportunities. The speaker shares his personal experience of being traded multiple times in the NBA despite initially wanting to stay put. He emphasizes that it's all part of the game and acknowledges the hardships that come with it, but ultimately sees it as a blessing. He also encourages embracing change, even if it's uncomfortable or unexpected. The speaker's anecdote about acquiring the Jazz and re-signing their star players illustrates how making bold moves can lead to unexpected success. He concludes by encouraging everyone to embrace the present moment and find happiness in the current NBA scene, no matter how uncertain it may seem. Overall, the message is to approach change with an open mind and a positive attitude, as it can lead to new experiences and personal growth.
Recognizing the need for change: Recognize when you're stuck in a rut, and take action to make positive changes in your personal or professional life. Inspiration from activists can help you make bold moves to bring about positive change.
People often wait until they hit rock bottom before making changes in their lives, but it's important to recognize that consistent unhappiness is also a sign that something needs to change. Whether it's a professional or personal situation, if you're not feeling fulfilled or content, it may be time to make a move. This concept can be applied to any area of life, including striving for goals or seeking a new job. It's essential to recognize the ruts we fall into and actively work to break free from them. As the speaker mentioned, even in high-pressure situations like trying to win an NBA championship, the same principle applies. So, whether you're feeling stuck in your current job or aiming for a big goal, remember that change is possible, and it's never too early to start making improvements. Additionally, the speaker encouraged taking inspiration from activists and making bold moves to bring about positive change in your own life.
