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Growing a Cookie Business, Facebook Ads for Car Sales & Betting Against the Market| #AskGaryVee 245

Growing a Cookie Business,  Facebook Ads for Car Sales & Betting Against the Market| #AskGaryVee 245


– On this episode, we go
rare Sunday late afternoon. (hip hop music) – [Gary] You ask questions, and I answer them this is The #AskGaryVee Show. – What up, YouTube? Good to see you. About to do episode 245
of The #AskGaryVee Show. – [DRock] Live.
– Live. Thanks, DRock. (group laughter) I hate when
DRock tries to produce. It freaks me the fuck out. What up Instagram? Periscope, Facebook,
YouTube, everybody’s live. You ready?
– [Andy] Yeah. – Alright, 245? Hey everybody,
this is Gary Vay-ner-chuk and this is episode 245
of The #AskGaryVee Show. We’ve got all
sorts of things going on. YouTube, Facebook, Periscope
and Instagram live and Facebook. Facebook is where we’re getting
the questions from here today. Oh Facebook on two
computers and that’s it. We’ll see if we can match the
intensity of the last episode that created the epic
piece of content with Taylor. Andy’s not even waiting,
he’s getting right into it. I’m cool with that. Phone numbers on Facebook if
you want to be on the show. – [Kenneth] Hello,
this is Kenneth Hanover. – Hey man, it’s
GaryVee. How are you? – [Kenneth] No way.
How are you? – Good man. I didn’t catch your name and
turn down the stream if you can. – [Kenneth] Yeah, definitely.
It’s Kenneth Hanover. – Kenneth, cool man.
How are you? Where you from? – [Kenneth] I’m from
Tarrytown originally. – Nice. – [Kenneth] Born and
raised here in New York. – Love it, man.
I went to a great toy show in Tarrytown in 1993 and bought a lot of old-school Star Wars
manuals and made a fuck load of money so I love Tarrytown.
– [Kenneth] That’s awesome. Was that over at
the Hilton or something? – Yeah, it was actually.
20, 24 years ago. They still do shows there? – [Kenneth] I don’t know if
they still do shows there. I mean that’s
literally right down the street from my parents house.
– I love it. So what’s your question, bro? – [Kenneth] Okay so,
I’ll try to get to it. I, over this past year, was
working at a startup and then recently got laid off
or was made redundant in December of this year.
– [Gary] Okay. Okay. – [Kenneth] And I was at a point
in my life where I was like in sales and I was pretty into it
and I was like this is working for me and then suddenly I was
just not that excited about it. So now I’m trying
to figure out– – Not excited because of the
gut punch of the lay-off or not excited prior to it. – [Kenneth] I think
not excited prior to it. – Okay. – [Kenneth] Like I
was working at Yelp. – Yep. – [Kenneth] Lot of high
volume outbound cold call sales. – Yep. Yep. – [Kenneth] And, you know, it’s
just one of those things that I started doing. I got into it just because
I need to be making money. – Sure.
– [Kenneth] I need a job. – Yep. – [Kenneth] I came to a
point where it’s like another opportunity presented
itself and I was just like, alright, well maybe
this will be different. I’ll be in a startup it’ll be,
I’ll have a lot more autonomy over my day and I kind of just
found that I was getting pushed back in that same direction. Which is just a bunch of
outbound cold call sales calls. – Right.
– [Kenneth] I don’t know. For me it was, I felt like I was
living a Groundhog Day where I was basically waking up,
doing the same thing over and over and over again.
– You were. – [Kenneth] Yeah. And so, now I’m in a situation
where I just moved back home with my parents and I guess
I’m trying to figure out what’s gonna excite me or what my next
step should be because I think going and continuing to do
the same thing is obviously not gonna be good
for my self-esteem or good for me mentally. I think I’m kind of at this
point decided I don’t want to do this but at the same time I
don’t know what it is that I do want to do I’ve been
trying to figure that out. – Can you afford,
Andy watch this, you’re gonna knock that over. Are you in a place where
you can afford to go and taste a lot of different things? I think of this like food. People are always like, “What’s my passion?
What do I like to do?” I’m like I don’t know. If you only eat
pizza and hot dogs, how do you know if
foie gros or sushi or lemons soup is your favorite food of all time. I don’t know where
lemon soup came from. But are you in a
place where you can go and try doing different things? And if you can’t go get a 9 to 5
job that pays your basic life away and then
spend your 5:30 P.M. to midnight tasting other thing
in startup land or internships. That’s the actual practical
answer to solve this question. (phone rings)
Did we lose him? Is that him calling back? Hello? Hello? Yeah, alright.
He’s done. Alright, let’s move on. Sorry we lost the call. Where you go when you don’t know
what you want to do is you have to try to do things. I mean it’s not
super complicated. So if you’ve got a trust fund
or if you saved some money or if you’re living ghetto and don’t
give a shit and live with 11 roommates and can afford to. Just cancel it out. What you got to do is
got to go and try things. You got to try operations. You got to try sales. You got to try all
these different things. That’s really just the only
option out there and so you’ve got to put yourself in a
position whether being humble and ghetto to go and try things
or maybe you’re in a luxury spot where you can go and do that.
It’s really the only way. You’re not gonna
find out by guessing. – [Andy] Lisa with a
ground level cookie business. – Good.
– [Lisa] Hello? – Hey Lisa, it’s GaryVee and you’re on the
The #AskGaryVee Show. – [Lisa] Shut
up. Are you serious? – I am not joking, Lis.
– [Lisa] (laughs) That’s crazy. – How are you? – [Lisa] That’s
awesome. Awesome. – So what’s your question? – [Lisa] So,
I literally just started a very ground level cookie business
about a year ago. I literally just
did it out of fun. It was a hobby. And I was in full-time school
for my hospitality license and unfortunately
went through a divorce. – Okay. – [Lisa] But this cookie
business has taken off and has become more than just a hobby. Within less than a
year I’ve gotten about 400 fans just on Facebook. So, I’m wondering if I should
take it to the next level and kind of get my LLC and really
brand it and how to kind of go about doing that on
a professional level. – Well, here’s what’s
great about entrepreneurship. There’s no
amateurs or professional. Like getting an LLC doesn’t
mean you’re professional. There’s plenty of people
that don’t have an LLC that are making tons of money. They should get an LLC when they
get to a certain scale for legal and financial purposes but don’t
think of this like graduating to like I get an LLC
and I take it serious. You’ve already
done the hard part. You actually did
something. Right? So like, so are we talking about
you make cookies and sell them? – [Lisa] I do.
They’re custom cookies. So it’s basically a sugar cookie which everybody
absolutely loves. – Right. Yep.
– [Lisa] And then I cut them– – Well, I don’t love them ’cause
Jordan’s sitting here and I don’t eat sugar cookies.
Tell ’em Jordan. But I get it. Right and then you
design on top of them. Right? Like DRock’s face or
things like that. Yeah. – [Lisa] Yeah, it is
and it’s all hand designed. And I haven’t done
anything where I print anything. – I get it. And how much are the cookies and
how much have you made so far? – [Lisa] I’m averaging right now about $600 a month in cookies. – And how much profit
is that? Like $400? $300? It’s pretty profitable, right? – [Lisa] It’s very profitable. (laughs) It’s very
profitable right now, yeah. I’m only doing it part time. – Do you love it?
– [Lisa] I do. I honestly do. I think that it’s amazing
that a cookie can bring so much joy to somebody’s life.
– I agree. – [Lisa] I feel like I can touch
people’s lives and it’s really cool and I very
fastly grew outside of the friends and family. I mean there’s people on
Facebook who don’t know who I am and I’ve never met them and
they’ve never tasted the cookie before that are ordering dozens
of cookies from me and are spending hundreds of
dollars with me to get them. – What are you
guys all laughing about? (group laughter)
I’m curious. – [Andy] It’s super interesting.
It’s cool to hear that. – Guys, you know how many people
make a million dollars a year selling cookies and
brownies and baked goods. I fucking loved baked goods. Why do you think
the fat Gary existed? Listen, I think
this is a real business. I think here’s what
you need to think about. Are you going to be
capable of hiring other people? Like do you want to manage,
right now it’s a hobby and it’s fun and you get a lot of release
and probably even the way you set it up, you decided to bring
up the divorce so maybe it was an escapism for you. You love the art part. You need to figure out if you’re
a businessperson ’cause if you’re just the artist, it’s
gonna get to a place where its– – [Lisa] No, it’s
definitely a business. – Fine. – [Lisa] I’ve been in
direct sales for about 10 years. – Well, then you should
definitely build this business. I guarantee, let me rephrase, my intuition says
that you have the capability of building a million
dollar revenue minimum cookie business if you go hard and fast
and you know if you’re making 70%, 80% margin
that’s life changing. So I think you
should very much consider, I don’t see what permission
you’re looking for from me. I think you should, can
you afford to go on all-in? – [Lisa] At this point,
I don’t know. And I think that’s
where I, where do I go? How do I do it?
– No, no, no. It’s very simple. What were you gonna say?
You we’re gonna look for what? – [Lisa] Do I need an investor?
– No! No, I knew you
were gonna say that. No! No! You need to making fucking
cookies right now and putting out content not being on
fucking social media and watching my show.
– [Lisa] (laughs) Yes, Gary. – No, but I mean I really
believe that truth, right? Here’s what you need to do
and what everybody and what everybody needs to do when
they’ve got something brewing but they’re not in a practical
place yet to jump all-in they need to sacrifice every
other second so that you can get the cookie sales
from $600 a month to $6,000 a month and let you leap. Like I want people
if they really love it, let me paint you a scenario that
may not be yours but I’m trying to give value to everybody. If you’re making $80,000 a year,
right and you live on an $80,000 a year kind of budget, right? Your rent and everything and
you’ve got something that’s making $600 a month like selling pictures or cookies or whatever you’re doing and you
want to go all-in, you’ve never had
such happiness, step one, figure out how to
bring your expenses to a $60,000 a year life. Right? You don’t need nice shoes. Girl yesterday in Vancouver. I’m like you don’t
need those nice shoes. Stop talking shit, right? Maybe you move if you don’t
own a home and get lower rent. Like literally you’d get to
$60,000 and then you spend every other second and
I mean every second. You go to sleep at one in the
morning and you wake up at six because you’re baking cookies
and you’re building up your Instagram and your Pinterest. – [Lisa] That’s my life.
– Good. So to me just go pot committed
until you get to a place where you can afford to make the
jump and that’s what you do. And once you make that jump,
let’s say you got it up to $5,000 a month ’cause you
subsidized to $60,000 but you were doing it part time, if
you loved it and you were good enough to get it to that $60,000
when you make the jump and your whole day is that,
that $60,000 gets to a buck, 80 real fast.
– [Lisa] Wow, okay. – Got it?
– [Lisa] Yeah. – Awesome, good luck.
– [Lisa] Awesome. Thanks, Gary.
– Yeah, you’re welcome. That was awesome. I mean that’s the thing. Like too many people talk out
of both sides of their mouth. They’re like they
want this new thing, I think she’s got it.
I’m not talking about her. They want this new thing but
they’ve got student loans, they’ve got rent. But what a lot of people have is
a lifestyle and it’s too fancy compared to what they want. Everybody’s rushing,
yesterday I saw a bunch of 19-year-olds with nice suits. They need to be living in the
fucking basement with three friends and saving that $3,000 and putting it
back in their business. Just we lack
old-school practicality in today’s new environment. – [Andy] Ryan.
– Ryan? That’s what needs to happen.
(phone ringing) Save money, invest money. Invest in your business. – [Ryan] Thank you
for holding, Ryan speaking. – Ryan, this is GaryVee and
you’re on The #AskGaryVee Show. – [Ryan] Gary,
how’s it going, man? – Super well, bro.
How are you? – [Ryan] My name’s Ryan.
I’m in Ottawa, Ontario, Canada. – MeetAuto.ca? – [Ryan] Yeah, we’re an
automotive listing site. – Okay. – [Ryan] Like
Autotrader or Kijiji, you can sell
your cars on our site. – I understand. – [Ryan] So we’re looking to
getting some funding and we’re a startup. Two and a half years
to build out the platform and we’re looking
to do some marketing. So if you had $20,000 and wanted
to get the best bang for your buck, I’ve watched
some of your stuff– – Facebook.
– [Ryan] But I’m curious. Yeah. – And do you know when you
run Facebook ads in the auto industry you can
actually tap into Polk data? – [Ryan] Right, I’ve
heard some of that stuff, I’ve done some research on it. – Stop doing
research and start doing. Spend all $20,000 on
Polk data backed Facebook ads. – [Ryan] Awesome.
– Great. – [Ryan] Yeah, that’s amazing. Is there anything
else that you would do? – Nope. – [Ryan] Any other
marketing strategies? – Nope. – [Ryan] Just
hammer it into Facebook? – Yep.
– [Ryan] That’s amazing. Yeah, I really appreciate that
and is there anything else– – Nope. Nope.
– [Ryan] that could help us out? – Nope. Facebook, Polk data. – [Ryan] Thanks for
being straight up, Gary. Really love your stuff.
– Love you too, man. See ya. When you have the best hand,
Polk data is an industry data source that actually tracks
people and knows that they’re in the market for a sedan. You can literally know someone’s
in the market for a four wheel vehicle and of course the data’s
not 100% pure but it’s doing search queries it’s doing
people that are doing surveying. It’s clean data, you’re
literally getting into people’s feeds that are in the
fucking market to buy a car. (phone ringing) Instead of what all
these car people do is buy billboards and run commercials
all the time ’cause you never know when somebody’s
in the market for a car. Yes, you don’t know if they’re
in the market for a car if it’s 1984. Hey bro, it’s GaryVee you’re on the The
#AskGaryVee Show, Jose. – [Jose] Yes, hi.
How are you? – Sensational and you? – [Jose] Hi, how are you?
– I’m great, bro. This is Gary Vaynerchuk
from The #AskGaryVee Show. – [Jose] I can’t believe I’m on
the phone with you right now. – You are, man.
– [Jose] Unbelievable. I’m a huge fan.
– Thank you, man. I appreciate it. What can I help you with? – [Jose] Let me
get to the point. So I feel like the
market’s gonna tank in the next few months.
Nobody’s sees it. I see it because I’ve
been looking at patterns basically all my life. Been in real
estate since I was 18. – Okay. – [Jose] I’m doing great.
Business is great. So it’s weird for me to
be the guy that says hey, things are about to tank
and let’s close shit down. – Okay. – [Jose] Do you think I should
be looking for a different avenue to compensate for that
or just save for the bad times? – I see, so you’re in the real
estate business and you think the real estate
market’s about to collapse. – [Jose] Yep. – So I think you’re 100% right. Now whether it’s three
months from now or a year, I’m not sure.
Could be 18 months. You know as well as
I do that you can never fully predict for it. So one thing you should do, so do you buy
properties and flip them? Are you a real estate
agent and sell homes? What do you do? – [Jose] Correct, I do
residential sales and I’m also an investor as well. – Well, if you
believe it’s gonna tank, you should divest into cash. – [Jose] Okay.
– Like what? Are you gonna talk about it and
then fucking sit on assets when they go down 30-50%?
– [Jose] No. I’d have to pretty
much sell everything off. – That’s how you do it.
– [Jose] Okay, I mean– – I sold my Twitter stock when I
thought it wasn’t going to be as valuable and I was right. That was a good idea.
– [Jose] Yeah. Okay, so sell the
inventory off– – Well, bro– – [Jose] Well residential-wise
how can I produce during the bad times? – So you’re less worried about
your investments ’cause you don’t have that
much capital tied in, you’re more worried about losing
the commissions that come in from selling homes? – [Jose] I’m worried more about
producing money and during the bad times
because capital is fine. I could sell off the investments
that I have and I’ll be perfectly fine for
the next five years but I’m talking about building. – Yeah, so whenever
there’s a down market there’s up opportunities
elsewhere so listen, have you been doing the
real estate thing for more… Were you involved
in 2007, ’08 and ’09? – [Jose] 12 years.
I got in in ’05. – Great. – [Jose] Made like 120 grand my
first year and then everything took a shit.
– So what did you learn? Where was the money
made during that shit? – [Jose] At the beginning and
then when everything took a dump that’s when a lot of
people made their money is when the market was down. – Right, so I think you need to
use the pattern recognition of what happened then, right? So what are the angles,
what are the opportunities? Or do you take a
reprieve from that market, get all your cash out and then
deploy it into other areas that you think are going up
during that time. Right? – [Jose] Right. – Or do you take
that cash, right, if you just told me you’re gonna
sell everything and you’re good for five years,
then I would sell it, take that cash wait for it to
happen and then buy shit on a nickel on the dollar so that
when the next come up comes you make a real fucking fortune.
– [Jose] Okay. Yeah. That’s what I pretty much needed
to hear and I was scared to do it, it’s just, you know. You’re going
against predictions. You know, everything’s the
unknown but as far as patterns go in the market
it’s always the same. – That’s exactly right. So like what too many of my
friends do is they love to claim that they got it right but
their actions didn’t match. – [Jose] Right. – They were thrilled that they
said that they predicted the real estate market was gonna
collapse yet they didn’t sell their seven homes.
– [Jose] Right. – So they feel good like
I told you over a beer but their fucking bank account
got punched in the mouth. – [Jose] Yeah. – I’d rather you not predict
shit and fucking sell off and fucking make money.
– [Jose] Correct. – Cool. Thanks, Jose.
– [Jose] Exactly. – Alright, man.
– [Jose] I appreciate the call. – No worries, brother.
Take care. – [Jose] Take care.
– Jose. I mean look (chuckles) that was a fun call
and I get it. It’s scary to sell off, if you
can afford to hold it through the whole way through you can
do that but you know if you’re still in the early
part of your career, selling at a high, taking the
cash and then catching it on the low, that’s just smart. It’s just not super confusing. The problem is
everybody, you know, it’s really fun to predict shit
when you have no money lost. Everybody loves to
Monday morning quarterback. Everybody loves to tell
me how to run this business. Let me make them
the CEO for a week. See them quiver and fold
like a cheap fucking chair. (phone ringing) – [Andy] Fro Knows.
– Is this Fro? Get out of here.
– [Andy] Should be. – [Gary] Fro!
– [Jared] Gar! It’s Jared. – What’s up, Jared?
I know man. How are you?
– [Jared] I’m doing well. How you making out? – Tremendous.
How’s Philly? – [Jared] Philly is
looking up and up right now. – I love it! – [Jared] Real estate
market’s on fire. – (laughs) I love it.
What’s cooking, bro? – [Jared] Question is
there ever such a thing as putting out too much content? – The answer is yes in the micro
algorithm game of marketing and no in the branding
game of marketing. So I say no. – [Jared] Alright. How about… – I mean look, bro, this
is a very simple question. The people that are deepest
knowledgable about what’s going on in social content will tell
you there’s certain platforms and certain algorithms that you
don’t want to put out too much content ’cause it can hurt your. I tell you sure, but what
happens is you lose certain awareness but the volume makes
up for it plus you might’ve not put out that one fucking piece of content that
changed your life. – [Jared] Sure. – It’s a massively
interesting debate. Probably even
amongst my own team. I just believe what I believe. I just don’t
think you can put out, by the way,
there’s another thing. It’s called your
talent on the content. Like if you’re a one trick pony
and you’re not interesting and you can’t bring value, well
how much content can you put out which is why document over
create became such a big thing for me because it allows people
to put out more content than they were putting out. – [Jared] Do you ever think
you’re burning out people? – Sure! Yes. – [Jared] There are
people that you’re losing? – I think I’m adding more
people than I’m losing and I think I’m burning
some people out. – [Jared] Right which
is bound to happen but people stick around. I’m 2500 videos in on YouTube
and micro-contenting everywhere else we need to be.
The other thing is– – You got to remember the other
thing is and this is important, if I was a 16-year-old vlogger
like blue-eyed pretty boy, I’d have seven
million fans on YouTube. Certain platforms over-index. You and I are in a demo and
have been doing it at a time, you know, we still don’t live
in a world where a ton of 40, 50, and 60-year-olds are
consuming YouTube all the time. So you’re gonna
have your audiences. But, you know, I don’t… I’m worried where you’re going
with this and a lot of people going with this is people
that have been in the game two, three, four, five, six, seven,
eight years you have plateaus. I’ve had them. And it’s almost
like an actor, right? Like John Travolta. Saturday Night Fever, whatever. Big star of the
late ’70s and early ’80s. Then nothing
from ’83 to ’94, ’95 and then Pulp Fiction, back.
Right? Mickey Rourke,
I think of it that way. You might just be hot for a year and then cool for three and then one piece of content
can change everything. Simon Sinek, somebody
I’ve known for a long time, been in the game putting
out content for five years, his interview the other day
where he shit on Millennials, I disagree, went viral as fuck
and now he’s here, you know? – [Jared] Yeah,
makes total sense. I’m not stopping
any time soon but– – The thing I would tell you
and the thing if you look at my behavior is maybe you need to
think about other platforms and being really aggressive. Maybe you
would’ve really, really, really popped in 10-second
form on Instagram and Vine or Snapchat videos. The one thing I would tell you
is is always taste the other stuff and I know you do do
micro-content in other places but sometimes put
another flag down, not just on YouTube. What’s going on with
you and Facebook Video? Are you hardcore
putting it all there too? – [Jared] I’ve been hardcore
on Facebook Video since they started putting it up.
– Good, good. – [Jared] I’ve been part
of some of the beta tests that they’ve been doing. – How about hiring an intern who
loves photography to transcribe your video and
make it into blog form? – [Jared] Yeah,
I transcribe most the videos. We post the
transcriptions up on YouTube, we put them all over the place. I hear the transcriptions get
traction on YouTube though I haven’t seen any
bump from that yet. – How ’bout the part
that really works on YouTube, how hardcore have you
been about collaborations? – [Jared] Collaborations have
been difficult at this juncture. There’s not a lot of other
people to work with on my side. – Sure there is. You need to figure out how to
integrate your narrative into other people’s shit.
– [Jared] Sure. Beyond photography
makes total sense. – No, no, only
beyond photography. That’s the punchline.
– [Jared] Yeah. – There’s nothing
but people vlogging, like every single vlogger on
YouTube is a play for you. ‘Cause photography plays. – [Jared] Good point.
– Thank you. – [Jared] That was a good point. – Yeah, that’s
why I do this show. – [Jared] One more?
– Yeah, go ahead. – [Jared] Are you
spending money on YouTube? I was, we’ve stopped, right? We’re so hardcore Instagram and
Facebook right now so I believe I believe in YouTube ads and
believe there’s value in it. But I would collab
the fuck out of your life. You should literally email
and reach out to every single vlogger on YouTube which will
take you the rest of your life and your children’s lives. – [Jared] Alright, thank you.
– You got it, brother. That’s really good advice. The collabos
really are the game. Like bring value. He’s a photographer and
he’s an amazing photographer. Go and shoot somebody’s, you
know how many families are vlogging that
have tons of people. Email them and say
I want to come on and I’ll take photography of your family. You’ll have some great family
portraits and he’ll get 4,000 subscribers and
he’ll fly to Ohio. Alright, solid show. Good advice in this one.
I liked it. You liked it, right? It was just like a good
solid Sunday afternoon while everybody’s like scratching
their ass watching basketball right now we’re
pumping out shit. You keep asking questions,
I’ll keep answering them. (hip hop music)

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9 thoughts on “Growing a Cookie Business, Facebook Ads for Car Sales & Betting Against the Market| #AskGaryVee 245

  1. Im a new fan to your channel I'm very excited on learning how to market with Facebook and Instagram your going to see me a lot on here.✌

  2. I like it when Gary talks in detail about how to apply his advice to brick and mortar businesses like a cookie business or anything.

  3. Hey Gary, if you mapped out the steps in starting and growing a business would you say opening a online store as the first step should be standard in the same way that you need to open multiple stores as a step that comes before building a franchise?
    I’m curious about thinking how people should look at starting a ‘brick and mirror’ business in the modern age. Is online store nice to have or a necessary step, and should you open a physical location or a online store first.
    It’s obvious from a economical point of view, but do you have any other thoughts?

  4. Thanks for taking your time to share tell your wife and kids thanks you are the Shit G keep up the good work! I know they are listing now!

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