1:13

– [Voiceover] Tommy asks, “In 13 thoughts of being an entrepreneur, “you say you focus on top line versus bottom line. Why?” – Tommy, you know, one thing I think a lot of entrepreneurs do, especially ones that are just starting companies, since I invest in so many of them, that completely blows me away […]

– [Voiceover] Tommy asks, “In 13 thoughts of being an entrepreneur, “you say you focus on top
line versus bottom line. Why?” – Tommy, you know, one thing I think a lot
of entrepreneurs do, especially ones that are
just starting companies, since I invest in so many of them, that completely blows me away is they start looking to drive margin, profit very early on. The reason I always focus
on top line revenue, and it was something I
did in my dad’s business and something that AJ felt
when I started going full time on the Vayner front was
you can always drive your profits higher eventually, but when you cut a moment in time, and when I run businesses,
I tend to innovate, and I tend to be slightly
ahead of the market, and the market eventually
catches up to me, and then that’s the good thing. That’s the moment when it gets exciting. People start believing
in social media marketing or believing in internet
e-commerce wine businesses or believing in Australian, New
Zealand, South African wine, I have to really run fast
and grab as many customers because I’m slightly ahead. Then three, four, five, six, seven, eight years down the line, I can start driving profit. You can always start cutting costs and raising prices at any time, but land grabbing more customers gives you leverage of the scale that you ultimately need to convert them, and so I think people go
in for the right hook, the big right hook a lot
of times way too early, sometimes to appease investors, sometimes because they just
want to start buying boats and Rolexes, and I’m just kind of pushing
and building leverage for the long term. – Hey, Gary. John Lee Dumas,

3:00

I am from Fittr, a small fitness app available on the app store. – That’s a plug. – We’re a four-person team, and we are seeing a rapid growth in our customer base. Currently we have a very intermit customer experience, but I’m kind of worried that as we grow, we may have more and […]

I am from Fittr, a small fitness app available on the app store. – That’s a plug. – We’re a four-person
team, and we are seeing a rapid growth in our customer base. Currently we have a very
intermit customer experience, but I’m kind of worried that as we grow, we may have more and more
trouble with maintaining that. Is there any advice you could give me? Thanks. – Kik, there’s some serious
advice that I can give you which is, if you grow,
(wood thuds), thank God, you will make money, or
you will raise money, those are two things that
happen when you grow, and you will take some of that money and you will apply it to
hiring more human beings to continue to scale your four-person team to a 23-person team that can then do, obviously, in that scenario,
around six times more engaging and intimacy. This is the insanity that
pisses me off more than anything which is that people think
that engagement doesn’t scale. It doesn’t scale when you roll like me and you answer everything yourself, but it does scale when you’re a logo, or water, a league, a thing, it scales. As a matter of fact,
I’ve been comtemplating an #AskGaryVee Show Twitter account that allows me to scale, right? I can have four human beings
behind this show engaging, you know, that’s not me,
’cause it’s a show, me is me. And so you can scale all day long, or you and your four-person team willing to make the commitment to allocate dollars into humans, one that most CFOs and
other financial people do not believe in. I believe in it, do you? – [Voiceover] Mark and
Patti ask, “What’s better

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