MDB-2 : How GaryVee Generates Over $200 Million in Revenue from His 12 Businesses
Gary Vaynerchuk's 12-Business Empire
Welcome to episode 2 of “Mostly Digital Business” : A weekly dose of inspiration and practical advice to help you transform your business and self to the next level !
This edition of “Mostly Digital Business” will feature Gary Vaynerchuk's 12-Business Empire. Stick till the end for daily business lessons !
Gary Vaynerchuk, commonly known as GaryVee, is a well-known entrepreneur and internet personality who has built a business empire across multiple industries. He is the founder and CEO of VaynerMedia, a digital marketing agency that works with large brands such as PepsiCo, General Electric, and Anheuser-Busch InBev. Here are some ways that GaryVee makes over $200 million a year from his various businesses:
VaynerMedia: As mentioned, VaynerMedia is GaryVee's digital marketing agency. The company has over 800 employees and provides social media marketing, content marketing, and other digital advertising services to large corporations. It is estimated that VaynerMedia generates over $150 million in revenue each year.
Wine Library: GaryVee's family owned a liquor store in New Jersey, and he turned it into a successful online wine retailer called Wine Library. The company has a large following of loyal customers who appreciate the expertise and enthusiasm that GaryVee brings to the world of wine. Wine Library generates an estimated $60 million in revenue each year.
Keynote Speaking: GaryVee is a sought-after keynote speaker and has spoken at many conferences and events around the world. He charges a high fee for his appearances, reportedly earning up to $250,000 per speaking engagement.
Authorship: GaryVee has written several books, including "Crush It!: Why Now Is the Time to Cash in on Your Passion" and "The Thank You Economy." These books have been bestsellers and have helped to establish GaryVee as an expert in the field of entrepreneurship and marketing.
Angel Investing: GaryVee is an angel investor and has invested in several successful startups, including Uber, Twitter, and Venmo. He is known for his ability to spot early-stage companies with high growth potential and has made a significant amount of money through his investments.
The Sasha Group: The Sasha Group is a VaynerX company that provides consulting and marketing services to small businesses. The company helps these businesses develop their brand identities and marketing strategies.
Gallery Media Group: Gallery Media Group is another media company owned by VaynerX. The company produces content for women, including the popular lifestyle website PureWow.
VaynerSports: VaynerSports, is a sports agency that represents professional athletes. The company has signed several high-profile clients and has been successful in helping them negotiate contracts and endorsement deals.
VaynerCommerce: VaynerCommerce is a VaynerX company that helps businesses sell products online. The company provides e-commerce strategy, design, and development services to clients.
137 PM: 137 PM is a media company that produces content for entrepreneurs and business leaders. The company is part of VaynerX, GaryVee's holding company, and generates revenue through advertising and sponsorships.
Resy: Resy is a restaurant reservation platform. The company was acquired by American Express in 2019 for an undisclosed amount.
Empathy Wines: In 2019, GaryVee launched a new wine company called Empathy Wines. The company sells high-quality wines directly to consumers, cutting out the middleman and offering lower prices as a result. Empathy Wines has been very successful, generating an estimated $10 million in revenue in its first year.
Business lessons to follow :
I think what’s interesting about Gary’s business is that they're all interconnected and he really builds a team to go run those independently .
Building direct consumer brands - Gary grew empathy wines by leveraging his social media following. So the empathy wines model is that they disrupt traditional wine distribution model by cutting out the distributor and retail channels to work directly with sustainable grape growers to produce their own range of wines to give them to you. 🍷
Build real businesses, it pays - So for yourself, don't actually aim to be an influencer. Aim to build real businesses. It pays. 💼💰
He's building demand and making big - He's not running ads. He's not making the small dollars. He's making the long game. Building demand for himself as a speaker, being on every single channel, putting himself out there and then saying, hey, if you want me, it's going to be really expensive to have me, but it'll be worth it. 💰
He turned his social media presence into a successful agency, earning millions through speaking gigs and book deals. - So gary got out there, put himself out on social media and instead of just saying like let me sell you a course, let me send you my merch, let me get some youtube ads or do some sponsorships, he said: how do i actually create real businesses with the attention and audience i have? So he's turned that into a large ass agency making over 200 million dollars a year.
I hope you found this edition helpful . Until next time : )