Vaynerchuk was in his 20s when he realized his potential to leverage the internet to make money, as he helped catapult his family's wine shop into a $60 million per year business mainly through online marketing. He also has an eye for the next great social media platforms, as an early investor in companies like Twitter and Facebook. Today, in addition to running VaynerMedia, the 40-year-old serial entrepreneur is a best-selling author, speaker and internet celebrity with a popular YouTube channel.
His slow-it-down sales advice may seem counterintuitive, especially with so much competition in today's marketplace. As we learned from Lyor Cohen, founder of 300 Entertainment, the ability to close a deal faster than your competition is sometimes a major key to success.
But in some cases, it pays to not rush the deal, says Vaynerchuk. Instead, spend time engaging with your audience. Listen to their pain points. Offer free help and advice for as long as you are able. Once you've proven to be someone who cares and listens, you gain the trust and appreciation of the market. And customers will be more likely to make a purchase from you over someone else who's aggressively all about the sale. And they're more likely to come back for more.