Podcast Summary
New Generation's Resourcefulness in Earning Income: Young individuals leverage technology to create income streams beyond traditional employment, with examples in YouTube, TikTok, and real estate.
The new generation entering the workforce is not lazy or entitled, but rather smart and resourceful, leveraging technology to create income streams beyond traditional employment. Gary Vaynerchuk emphasized this point, sharing examples of young individuals making substantial earnings through platforms like YouTube and TikTok. He also highlighted the unique opportunities and challenges presented by the current market landscape, particularly in real estate, due to the ongoing pandemic. Throughout his 25-year career, Vaynerchuk has proven that success can be achieved regardless of market conditions, and he encouraged the audience to adapt and navigate the ever-changing economic landscape.
Navigating without company support requires individual brand building and marketing: Focus on building your own brand and marketing efforts to avoid vulnerability, innovate, and be ambitious.
Relying solely on a company's branding and marketing efforts may leave individuals in a vulnerable position. Gary Vaynerchuk emphasized this point during a discussion, sharing his experience of navigating the last 18 months without government support for his companies. He believes that in order to succeed, individuals must be the "queen and king of their domain" in brand building and marketing. Vaynerchuk also highlighted the importance of innovation and ambition as competitive advantages. He advised the audience to be aware of the potential vulnerabilities of over-relying on a company's branding and aggressiveness, and instead focus on building their own. Vaynerchuk's emphasis on listening and understanding social media was another key takeaway, as he encouraged individuals to educate themselves and stay informed in order to effectively leverage these platforms for their personal and professional growth.
Effectively engaging on social media is crucial for real estate success in 2022: Focus on building genuine relationships and providing value to your audience on social media to stand out, rather than just promoting yourself.
The real estate industry's success in 2022 hinges on being able to effectively engage on social media, but most content is overly self-promotional and lacks the patience and relationship-building required to stand out. Older agents and firms, who have historically relied on reputation and word-of-mouth, are losing market share to younger agents who understand how to use social media effectively. However, it's important for both groups to recognize that technology is constantly evolving and changing, and it's essential to adapt. The tension between the old guard and the new generation is natural, but both can learn from each other. The key is to focus on building genuine relationships and providing value to your audience, rather than just promoting yourself. Remember, in the world of social media, patience and authenticity go a long way.
Understanding social media for real estate success: Invest time in learning social media for business growth, focus on quality over quantity, and commit to 25 hours of learning for effective content creation. Social media ads are underpriced compared to traditional marketing methods.
While social media content is crucial for success in real estate, many agents and brokers are making mistakes by focusing too much on quantity and not enough on quality. The speaker emphasizes the importance of understanding the platform and investing time in learning how to effectively use social media for business growth. He also highlights the underpriced nature of social media ads compared to traditional marketing methods and encourages a commitment to dedicating 25 hours to learning and mastering social media content creation. Ultimately, the speaker encourages a shift from blaming tools and opportunities to recognizing the importance of personal growth and capability in achieving success in real estate.
Understanding communication style and preferences: Stay curious and open-minded, be aware of strengths and weaknesses, and be willing to experiment and adapt to reach goals
Self-awareness is crucial in entrepreneurship and life, especially when it comes to trying new things and adapting to changing platforms. Gary Vaynerchuk emphasized the importance of understanding one's communication style and preferences, as well as being open to learning new skills and tools. He encouraged the audience to move past their infatuation with "no" and be willing to explore new opportunities, even if they seem daunting or uncomfortable at first. For example, while some people may prefer written content on LinkedIn, others may find success through audio or video posts. Ultimately, the key is to be aware of your strengths and weaknesses, and to be willing to experiment and adapt in order to reach your goals. Whether it's posting on social media 7 times a day or trying a new communication medium, the most important thing is to stay curious and open-minded.
Being self-aware and incorporating hobbies into content strategy: Incorporating personal interests into content strategy can help real estate professionals engage with their audience and provide value, especially on platforms like TikTok that prioritize interest-based content.
Being self-aware of your strengths and interests is key to providing value and engaging with your audience, especially in the real estate industry. Instead of solely focusing on listings, try incorporating your hobbies and passions into your content strategy. Additionally, platforms like TikTok, which are based on the interest graph rather than the social graph, offer new opportunities to reach potential clients by providing content that aligns with their interests. Don't be afraid to step out of your comfort zone and try new things, like creating a TikTok account and sharing personal content, to build a more authentic and engaging online presence.
Embrace new technologies for business growth on TikTok: Leverage TikTok for business growth by being open to new technologies and adapting quickly to reach a large audience
TikTok presents a unique opportunity for businesses and individuals to reach a large audience quickly and potentially gain significant exposure. This was also seen in the early days of Facebook fan pages, where posts could go viral and reach large numbers of people. The speaker encourages everyone to take advantage of this trend, especially those who may be reticent to embrace new technologies. He emphasizes that the pace of technological change is rapid, and those who are open to trying new things will be better positioned for success in their careers. The speaker's own success is due in part to his willingness to adapt and embrace new technologies, from CDs to cell phones to social media platforms. He encourages everyone to be open to change and to seize opportunities as they arise.
Social media is essential for growth in real estate industry, pivot to TikTok: Effectively using TikTok can lead to increased market share in real estate industry, prioritize social media presence as a team effort
Social media has become a non-negotiable tool for growth in the real estate industry. Agents who can effectively create and share content on platforms like TikTok are seeing a significant increase in market share. For those who have previously relied on Facebook or Instagram but have seen a decline in reach and success, it's time to pivot to TikTok. Additionally, for managers with employees, it's crucial to prioritize social media presence as a team effort. The speaker shared his personal struggle with understanding this concept, but after much reflection, he has come to believe that becoming the "mayor" of your town through social media content is essential for business growth.
Essential skills for business success: Focusing on kindness, empathy, and compassion sets you apart and leads to a successful entrepreneurial career
Kindness, empathy, and compassion are not weaknesses but rather essential skills for business success. Contrary to popular belief, being nice doesn't mean finishing last. Instead, focusing on competition and dwelling on others' successes can limit your potential. The world is abundant, and nobody is taking away your opportunities. It's essential to understand this and shift your mindset to play offense rather than defense. While it's possible to be financially successful without these skills, they are the hard skills that truly set you apart and help you build a successful and dominating entrepreneurial career.