Team Tony cultivates, curates and shares Tony Robbins’ stories and core principles, to help others achieve an extraordinary life.
You’ll never earn your way to your fortune
Discussing investments and business with Tony Robbins and Gary Vaynerchuk
While you’re preparing to earn your fortune, opportunities are happening all around you. Knowing when and where to invest your money makes all the difference between just getting by and building a fortune to pass down to future generations.
In this episode of the Tony Robbins Podcast, Tony talks with Gary Vaynerchuk, serial entrepreneur and CEO and founder of VaynerMedia – a full-service creative and media agency with offices in New York, Los Angeles, London, Singapore and Mexico City.
In addition to being the CEO of his own media company, Gary is also an accomplished public speaker, New York Times bestselling author and venture capitalist. He has been named to Crain’s and Fortune’s “40 Under 40” lists and was most recently named to Fortune’s Top 50 Influential People in the NFT Industry list.
Gary is far from an overnight success. After he immigrated to the United States from Belarus in the late 1970s, he shared a studio apartment in Queens with eight other family members. He worked a variety of odd jobs until the late 1990s when he decided to take a chance on the promise of the Internet. He turned his family’s local liquor store into one of the first ecommerce platforms for alcohol in the world. The company was renamed to “Wine Library” and sales grew from $3 million to $60 million in just six years with Gary at the helm.
Gary always seems to be one step ahead of the curve. He has grown multiple successful businesses – but that’s not where his success ends.
He is also the host of a successful business podcast, The Gary Vaynerchuk Audio Experience, and the extremely popular #AskGaryVShow, a business and marketing YouTube channel.
This episode of our podcast was recorded when Tony was a guest on the Gary V Show. In their candid and informative conversation, the two discuss the power of being unshakeable, how morning rituals and practicing gratitude improve their lives and how they keep their mental edge – even when things aren’t going their way.
Tony and Gary, two of the world’s most successful businessmen, share advice about how to succeed in business while staying focused and achieving true fulfillment.
The amount of money that you can earn is limited by the hours in a day. In fact, true wealth cannot be earned. It must be achieved through diversification. Investing in multiple streams of income and then diversifying those investments is the best way to ensure a strong portfolio. Tony and Gary are proof of that.
In this episode, you’ll hear a lot of talk about economic winters and how, when navigated successfully, they can be one of the best times to excel and grow economically. While these low moments may seem tough to navigate at the time, they are actually the perfect time to make big moves, end procrastination and demand action. Hesitating during economic winters only leads to failure.
If you’re ready to turn an economic winter into a successful financial leap, attend Tony’s next Wealth Mastery event. This event was designed to reveal some of the best-kept secrets surrounding investing and financing so that you can secure your future, just like Tony and Gary.
Gary Vee Podcast Show Notes
[00:55] Ana introduces this episode
[02:20] Gary welcomes Tony
[02:30] Why Tony wrote “Unshakeable”
[03:00] Corrections provide opportunities like never before
[04:00] Destroying the fear with real results
[04:20] How Gary used economic winters to excel
[05:10] It’s impossible to time the market – why Gary is sitting on cash
[05:50] While you are waiting, people are making money
[06:15] The secret is to diversify
[06:20] You don’t earn your way to a fortune
[07:05] Creating a “money machine”
[07:20] People are overreacting to market corrections
[08:30] 80% of market correction never become a bear market
[08:45] Crashes happen every 5 years on average
[08:50] Every bear market lasts one year on average, going down 33%
[09:00] In two centuries, every bear market was followed by a bull market
[09:15] Unless you’re betting on America disappearing, you win
[09:35] JP Morgan study on S&P and best trading days
[11:10] What someone with a lot of cash should do
[11:50] Make the decision to become an owner
[12:20] Theodore Johnson example
[13:20] What to be careful of
[14:20] The power of compounding for your savings
[15:20] The impact of “I am Not Your Guru”
[16:05] How do you become so grateful?
[17:20] Gratitude shatters anger and fear
[18:35] The power of priming
[18:50] The iced vs. hot coffee study
[19:45] Tony’s morning ritual
[21:00] Sir John Templeton – the secret to wealth is gratitude
[21:35] Gary V.’s daily ritual
[23:20] How do you know if you are taking too much on?
[24:40] Most entrepreneurs attempt too many businesses in the beginning
[24:50] Find your flagship, that you will commit everything to
[25:20] Business is also about your own psychology
[25:30] Master one thing at a time
[26:30] Massive focus and big risks
[27:00] The 3 beliefs you must have when starting a business
[28:00] Learning how to maximize
[28:20] The business you’re in and the business you’re becoming
[28:50] The 80% of what I do
[30:00] The business you are in and the business you are becoming
[30:20] Intertwining your personal and professional brands
[31:30] The importance of intent
[33:20] Tony’s take on social media
[34:00] Why Tony prefers audio over text
[36:40] The value of Facebook Live
[37:20] Tony’s social media director weighs in on Instagram Stories
[38:00] Success without fulfillment is the ultimate failure
[39:00] Learning how to master the mind
[39:40] What’s a magnificent life for you?