Gary Vaynerchuk on the Transformation of the Wine Industry

It’s time to take another look into the wisdom of Gary Vaynerchuk in his latest book #ASKGARYVEE!

In this chapter, Gary talks about the tech transformation of the wine industry, the hoax of high-end wine, and where he loves to drink his wine.

Jumping into this chapter, I wasn’t sure what to expect. I don’t know much about wine at all, so I couldn’t tell if I would relate to anything Gary would be talking about. However, as he always does, Gary surprised me with his ability to apply anything back to entrepreneurship in general.

The first quote that really stuck out to me came when he was talking about how the old, boring, and tired wine industry was revitalized by social media.

New apps where people can leave reviews, blogs, hundreds of thousands of pieces of content put out by bright new personalities in the wine community, especially on Instagram, Twitter, Facebook, and Pinterest. (pg 312)

Now, I know that is more of a list than a complete sentence or thought, but the content of the quote is still applicable!

Even the oldest industries are finding a voice online. If you are struggling to generate interest in an old industry, then take to the blogs! Honestly, at this point, someone has probably already beaten you to it! There are some of the weirdest and most random niche pieces of content on the internet. If you can think of something, someone has probably already created at least one piece of content related to it. Get out there and find those communities!

Is the high-end wine business a complete hoax?

I immediately knew what his answer would be to this one, because I hear it all the time as a consultant. How do you properly value a persons worth? How do I justify my hourly rate?

Am I worth the money I get paid to do speaking engagements? I used to wonder, but now I know the answer is yes, because my time and expertise is valuable. (pg 314-315)

Something is simply worth what people are willing to pay for it. That price point is determined by the demand for that thing. That demand has developed over time as more and more people have experienced its quality. This is applicable to everything whether it’s people, food, art, wine, services, or anything else people pay money for.

...all it takes is one ride in first class, or one game in the front row of a stadium, or one sip of a Châteauneuf-de-Pape, and you’ll wonder how you ever doubted its value. (pg 315)

What’s your favorite city in the world to drink wine?

I loved this question, because he didn’t really answer it...but at the same time he did.

My happiness is always about the who, not the where. (pg 315)

I will always make time for the people I love. Although I am driven and passionate about the work I do, that will never replace the passion I have for my family. When I am needed, I will be there. No questions asked. Even when I’m not needed, I will pour into those relationships.

I know this is trite and cheesy, but I really do think about the end of my life and how my actions will have impacted the world. I would love to become insanely successful, but if I don’t have the people I love still standing by my side when I reach that success, it would have all been for nothing.

Anyway, I hope you got as much out of this chapter as I did! Please let me know if you think I missed anything in my review of it! I would love to continue this conversation in the comments!

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