#AskGaryVee Episode: Jack Welch of General Electric and Management Institute

Watch this special episode of the Ask Gary Vee Show where the former CEO of General Electric now founder of Management Institute Jack Welch and Suzy Welch answer the following questions.

2:29 – How important is failure. You hear a bunch of people saying how important it is to fail. But is it really?
5:08 – Is terminating the bottom 10% still a good idea? Even on a team of all-stars, someone has to be last.
8:19 – As a business grows, what is best solution for documenting policy, procedure and process so all are on same page?
11:05 – What is the best way to scale a business with an inherently low profit margin?
13:58 – How can efficiency and creativity better work together?
17:33 – Jack and Suzy talk about their new book, “The Real-Life MBA”.

Jack and Suzy Welch’s “The Real-Life MBA” (all proceeds go to charity): http://www.amazon.com/The-Real-Life-M…
Jack Welch on Twitter: https://twitter.com/jack_welch
Suzy Welch on Twitter: https://twitter.com/SuzyWelch

5 Dimensions of Building a Great Product by Jeff Weiner CEO LinkedIn

In this interview Jason Calacanis uncovers keys to success from LinkedIn’s CEO Jeff Weiner. They discuss a range of topics from how 60% of Linkedin’s 2.2 billion in revenues is in the recruiting space to how they are going to launch a platform flagship product called conversations transforming the company.

Some of our favorite bite sized takeaways from this interview that stood out are;

  • Linkedin has 3 forms of revenue (Recruiting, Marketing Solutions, and (Native/Sponsored ads)
  • When Jeff was recruited from Yahoo there were 32 million members at Linkedin and now there are 347 million members
  • 3 Dimensions to curated blog content on their network has to do with data optimization (algorithm), social/virality (curation), and an editor
  • Linkedin is a platform for opportunity
  • It’s not just who you know, its what you know
  • Jeff Weiner lead a team that covered Yahoo’s search, home page, and media products
  • Talks about how Yahoo’s downfall was losing to companies with a single focus on each area they added. For example Google = search

Five Insights Jeff Weiner, CEO of Linkedin to be a Great Product you have to have these 5 elements and dimensions.

  • Single Value Proposition (Google = search, Headspace = meditation)
  • Simple, intuitive and anticipate customer needs (Gave Waze as an example)
  • Exceeds expectations will be forgiving and it builds trust and relationship with customer (Gave an example of a Sonos rep helping him on the phone for over an hour to have music ready for a dinner party)
  • Not just about creating value but how the product makes you feel and is there an emotional connection (Tesla = Driving the future)
  • All great products change your life

Towards the ends of the interview you can see Jason and Jeff come full circle when Jason keeps asking Jeff about maybe buying a media outlet as Washington Post sold ect.. Jeff proves single value proposition is very important by suggesting it wouldn’t be part of their core focus. Jeff did mention that their new Conversation product they will be launching possibly this year will be the core of their platform and flagship offering.

Here is the full interview from This Week in Startups to gather your own insights.

White lies, do you believe the hype?

On this 50th episode of the Ask Gary Vee Show, Gary Vaynerchuk answers the following questions asked from Twitter with the #AskGaryVee hashtag.

02:24 – If you don’t care about the competition, what do you say when a client asks you about a competitor and why you’re better?
04:02White lies, do you believe the hype? It seems you can’t win in business without bending the truth?
06:40 – Is the lack of chairs in your office a part of instilling the hustle in your employees?
08:29 – I saw a discussion via Linkedin about Klout scores on a resume. What are your thoughts on them?
10:47 – Are there any common mistakes that you repeat over and over again? Any tips on overcoming them?

What Came First at VaynerMedia: Clients or Employees?

On this episode 49 of the Ask Gary Vee Show on YouTube Gary answers the following business, wine, and social media questions.

1:41– What came first at Vaynermedia: clients or employees? (And did you ever do stuff without employees?)
3:51– Do you have any bucket list items that you want to complete before 40?
4:57– Is the high end wine business a complete hoax?
7:47– How do you “not procrastinate” that well?
11:33 – How exactly did your mother instill that self-confidence in you?

Reid Hoffman Founder of LinkedIn Interview with Jason Calacanis

In this 90 minute interview Jason Calacanis sits down at LinkedIn with its legendary founder, entrepreneur, product strategist, investor, and author Reid Hoffman.

Reid Hoffman shares a treasure trove of insights and business lessons. You’ll hear his early inspirations, origins of the “PayPal mafia,” secrets to his successes, greatest mistakes, sharp advice to entrepreneurs, smartest investment strategies, his impressions of fellow Silicon Valley luminaries (hints: Elon Musk, Mark Zuckerberg, Peter Thiel….), why he holds himself to a high standard, his insights into our biggest problems today and what even defines a human society — and much MUCH more.

Content Marketing For Realtors

On this episode 36 of the Gary Vee Show Gary answers the following questions from his Twitter peeps.

00:28– Would love to hear your opinion on whether a PR company or person should be overseeing #socialmedia for business.
02:14 – What was the moment you knew you would be “okay” when starting your business?
04:04 – Is there a way to drive traffic to a website when posting content directly to Facebook?
05:43 – You said it’s important to put out daily content. As a realtor what kind of daily video content would you produce?
07:48 – Most big success have a huge turning point where things really take off. What was that turning point for Wine library

How to Pick a Name for Your Business

Gary Vaynerchuk discusses answers to the following questions and goes deep on how to choose a business name or brand and why no one took over the wine library tv videos.

00:36 What is your opinion on listicle sites and posts?
02:57 In the age of social media, twitter, vine and instagram length. How does/should this affect a startup in choosing a name?
04:52 When you left Wine Library to start Vaynermedia, was it a conscious decision not to have someone take over Wine Library TV

A few points he makes is you make the brand and name not the other way around. People had no clue what “Google” or “Twitter” were before the companies turned the brands into search and real time news. In regards to Wine Library TV no longer having a video show Gary says there was really no one that could authentically take it over in the way he did the show and he is leaving it open for the possibility for him to do again in the future.