Bootstrapping, Social Media for Doctors & How to Sell at a Farmers Market | #AskGaryVee Episode 206 | Summary and Q&A

TL;DR

In this episode of The #AskGaryVee Show, Gary Vaynerchuk answers questions and provides insights on app launches, healthcare professionals using social media, and selling vegetables at a farmers market.

Key Insights

• 👨‍💼 Focusing on providing value through content is essential for businesses in any industry.
• 🐕‍🦺 Understanding and capturing customers' attention is crucial for success, regardless of the product or service being sold.
• 🖐️ Individual circumstances and personal factors play a significant role in deciding between bootstrapping and seeking investor funding.
• 🍧 Creating a great product and having a clear business thesis matter more than having a grand launch event for apps.

Transcript

Read and summarize the transcript of this video on Glasp Reader (beta).

Questions & Answers

Q: "Do you ever pick and choose which clients you work with based on how they do their business?"

Gary explains that while he considers what is best for his business, he also takes into account the well-being and perspectives of his employees. He mentions that he doesn't judge companies based on their social media or marketing, as that is what his company is there to fix.

Q: "What's your advice for healthcare professionals who want to use social media to promote wellness and attract patients?"

Gary suggests that healthcare professionals focus on providing valuable content that addresses people's concerns without expecting them to become clients. He emphasizes the importance of giving more value than expecting customers in return.

Q: "What did you learn from selling baseball cards that could be applied to selling vegetables at a farmers market?"

Gary advises paying attention to customers' eyes and understanding their perspectives. He recommends thinking about the flow of the market, unique products or price offerings, and analyzing competitors to differentiate oneself.

Q: "How do you know if you should continue to bootstrap or accept investor funding?"

There is no one-size-fits-all answer to this question, as it depends on individual circumstances. Gary suggests that if money is needed immediately, seeking investment might be necessary. However, if it is about accelerating growth versus enjoying the process, the decision should be based on personal factors.

Q: "How crucial do you think an app's launch is, specifically on Product Hunt?"

Gary believes that a great product is more important than a flashy launch event. He highlights successful apps like Snapchat and Instagram that did not have big launches but focused on delivering value to users. Early momentum can be beneficial, but long-term success depends on product quality and user satisfaction.

Summary & Key Takeaways

• Gary emphasizes the importance of providing value through content, regardless of the industry. He advises healthcare professionals to create videos, pictures, and written content that offer solutions to people's problems, even if it means they don't become clients.

• He shares his experience of selling baseball cards and highlights the significance of understanding customers' attention. By observing their behaviors and adjusting his strategies, he was able to attract more buyers at the card shows.

• Gary advises those deciding between bootstrapping and accepting investor funding to consider various factors such as personal circumstances, business size, and market conditions. He predicts a decline in available funding in the near future.

• Lastly, Gary discusses the launch of apps and the misconception that a big launch is necessary for success. He believes that a great product and a clear business thesis matter more than a flashy launch event.