Why I Can’t Stop Starting New Enterprises

The article below is similar to the metaphor in our book in Chapter 6 called New Herds–Blending into Communities.

We noted that our country always has had deep divisions, yet during the Great Depression, World War II, and the Cold War, most people rose to overcome these familiar fragmentations and achieved success by blending into new herds, taking advantage of the country’s unique talent. But that past is reversing, as our once-herd-inspired majority, who dealt with challenging problems last century, has shifted. We’ve grown comfortable, becoming static and solitary, losing interest in achieving cutting-edge goals that include more than a single culture or country, company or CEO.

Below are topics of the article Why I Can’t Stop Starting New Enterprises by Gary Vaynerchuk (Chairman and CEO of VaynerX and VaynerMedia, a full-service digital media agency based in New York City).

“I’M AT AN INCREDIBLY INTERESTING point in my life. I’ve built multiple
businesses from the ground up, starting in the late ’90s with one of the first e-commerce platforms for wine. That helped me grow my family’s business from $3 million to $60 million in sales in less than five years. I’m an author, an investor, and a speaker, and I run one of the fastest-growing full-service media agencies in the world. Under my holdings company, VaynerX, I own VaynerMedia and PureWow and additional businesses, including my sports agency, VaynerSports, all while managing and growing my personal brand.

“So call me a serial entrepreneur. If you want to start multiple businesses, here’s
something to keep in mind: You have to be self-aware. The problem with chasing
multiple ideas without having a concrete base is that you get stretched thin. You don’t see things all the way through. You become half-in across five businesses instead of all in on one, which would have been more successful.

“A metaphor I constantly return to is “You have to have the steak before you can have the sides.” I wouldn’t be partnering to release my own sneaker or building a sports agency or thinking about acquiring or launching other publishing companies if I didn’t have VaynerMedia as a base. Having a successful foundation allows me to do more. A lot of people, when they reach this level, start having other wants or need, whether it’s sailing or buying a third home or meditating. Me, I’m hungry to build. Can’t help it.

“My serial entrepreneurship is largely a product of observing and reacting. More than a decade ago, I saw that social media was going to be the zeitgeist for human connection–a new way to storytelling and build relationships. That’s why I started VaynerMedia, as a reaction to the reality and an insight into the market. It’s the same way Snapchat became huge. Evan Spiegel and Bobby Murphy observed that individuals like selfies and they created a service around that idea. They reacted a customer phenomenon and built their product into the established vertical of communication. And entrepreneur can and should do this.”

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