What Gary Vaynerchuk and Warren Buffett Taught Me About Business
Build An Economic Moat And Produce Content
An article I wrote for J Way Photography prompted me to write about my experience of finally listening to Gary Vaynerchuk, sprinkling in some wisdom of Warren Buffett and helping a friend out.
Welcome to The Garyvee Audio Experience
As apart of my weekend morning routine, I activate the DailyVee 365 Alexa Skill on my Amazon Echo to hear what Gary Vaynerchuk has to say. As usual his message remains consistent with the same direct attitude, “Create content, put in the work, and be patient”. Gary’s perspective rang true when I interviewed a friend of mine about her photography business.
What lead to the interview was a brief conversation about how she is a fan of Gary Vaynerchuk but she doesn’t have time to produce the content needed for her website. If Gary was sitting in front of her he would probably be pissed to hear her say that but I saw opportunity.
I capitalized on the opportunity by asking the question,
“Why don’t you let me produce some content for you?”
Without hesitation the interview began and I started to learn about her photography business model.
Enter Warren Buffett
As I start to deep dive into how she ran her business, I started to think about how large of an economic moat she has created for herself. I would let her go on about her company’s positioning strategy and added value she provides her clients. I even began to wonder if there would ever be a slow moment so she could actually create the content her website desires.
As we wrapped up the interview I informed her it would be a day or two for me to produce an article that she can post on her website. She agreed and I went on to produce her article.
First off, you can consider content to be the equivalent to cash… KING. If you’re not producing content to build your trust with customers then you won’t be able to provide value to them. I believe NicheOnline.net will shift into the content arena, producing content for people looking to keep up with consumer’s hunger for content. In the meantime, I’m concentrating on developing the content here, on Medium, until it’s time to transfer it.
Second, an economic moat is the Queen to your King. If you don’t have a competitive advantage to support your business then someone will copy your content and business model to compete against you. Build an economic moat and do it fast.