How to Make the Most of Your Internship | 2016 Fireside Chat with VaynerMedia Interns

Risk Evaluation

Gary Vaynerchuk shares his approach to evaluating risks, emphasizing the importance of understanding potential worst-case scenarios. He explains that he only takes risks if he can personally withstand the consequences, such as paying off a ten-year rent even if his company goes to zero revenue 1. Gary believes in focusing on strengths rather than shortcomings, which gives him confidence in his decisions. He states,

I basically deal with doubt by not doing anything that I have doubt in and only doing things that I have complete confidence in.

--- Gary Vaynerchuk

This mindset allows him to embrace risk while maintaining a sense of control 2.

   

Balance

Maintaining balance in business is crucial, and Gary discusses how he navigates between control and chaos. He believes that understanding oneself is key to managing speed and control, as different people have varying definitions of what is chaotic or controlled 2. Gary is comfortable with a degree of chaos, which he attributes to his success, but he ensures that his risks never reach a point of no return.

I'm only comfortable in risk. I'm uncomfortable in the alternative.

--- Gary Vaynerchuk

This philosophy helps him keep his business strategies balanced and effective 1.