Gary Vaynerchuk is nowadays mostly known for sharing his life perspective and motivation on social media. His first major business project was building his family’s regular liquor store to a multimillion-dollar business. Here’s how he made it happen.
Wine Library began as a small New Jersey liquor store owned by Gary’s father, Sasha Vaynerchuk. At first, being an underaged teenager, Gary did not have much credibility when it came to selling wine. However, making thousands of dollars on weekends selling baseball cards proved his business skills were not lacking. In order to earn a sales role in the wine business, Gary began reading copies of Wine Spectator in class. This way, he was able to gain encyclopedic knowledge about wine, and display it in the shop. By the time he was 16, he was already a considerable sales force in the store, interacting with customers and selling wine.
As time went on, Gary started to chirp in his father’s ear more and more, so by the time he graduated college, Gary had become the main day-to-day decision maker in the business. During the mid 90s he also identified the internet as a platform with huge potential. It was just a matter of convincing his father to start a website, and not long after that, winelibrary.com was launched in 1996. The first three years the company still grew more through operations, with Gary selling wine on the store floor. However, at the start of the 2000s, the momentum of the online website started to kick in, and the business grew rapidly through internet marketing to a $45 million dollar business.
Furthermore, in 2006, Gary found another way to increase his sales, this time at a much cheaper cost – he started a video blog called WineLibrary TV. The blog was hosted by Gary from 2006 to 2011, featuring wine reviews and advice. By that time he had built up such credibility in the world of business that he even had several celebrities such as Wayne Gretzky and Timothy Feriss come to the show. The show hit 1000 episodes in 2011, and with that milestone Gary decided to retire it. The decision to start a wine blog played a huge role in the success story, as the company grew to a $60 million dollar business. With his wine knowledge, passion and charisma, he also earned visits to several late night talk shows such as The Ellen DeGeneres Show and Late Night with Conan O’Brien.
To this day, Gary says his passion for building Wine Library came from his deep desire to pay his parents back for raising him the right way and giving him the emotional support to succeed in life. He believes their parenting has become the foundation of his success today.
Learn all the strategies that helped Gary to turn his innovative ideas into multimillion businesses and attend his two-day seminar on the 25/26th of September in London. Click here to find out more and grab your ticket NOW.