Why Most Businesses Fail to Continuously Innovate

Why Most Businesses Fail to Continuously Innovate

The thing about innovation is that it takes a long time before it actually starts generating profit. The reason why most companies are not willing to invest in innovation is that they can’t endure the financial hit for the long term benefits they would have had from the investments. Gary’s lack of interest in generating year=over-year profits is what separates his business from many others in that he is willing to generate fewer profits one year to help the business in the long run.

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Gary Vaynerchuk is a serial entrepreneur and the Chairman of VaynerX, a modern day communications parent company, as well as the CEO and Co-Founder of VaynerMedia, a full-service digital agency servicing Fortune 500 clients across the company’s 4 locations.

Gary is a venture capitalist, 5-time New York Times bestselling author, and an early investor in companies such as Twitter, Tumblr, Venmo and Uber. He is currently the subject of DailyVee, an online documentary series highlighting what it’s like to be a CEO and public figure in today’s digital world. He is also the host of #AskGaryVee, a business and advice Q&A show online.

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18 Thoughts to “Why Most Businesses Fail to Continuously Innovate”

  1. They fail because they are looking for quick money and short results. However, competitors don't stay in one place. You always need to develop your products.

  2. My niche is personal development. I do everything to grow my YouTube channel and make money online, but I am under 100 subscribers. Anyone have any advice?

  3. Voice first baby!!!!! I built my surfboard, all I need now is the big wave 🚀👽

  4. This is probably an old video, but I firmly believe Gary is wrong about AR and VR not being close. Its technically already here. Just gotta figure out a way to get creative with campaigns. Facebook and Instagram offers AR ads and Filters. You can add AR to your website with 8th wall or Google Model Viewer. You can create content with the the AR/VR assets you produce and redistribute it across most platforms like SnapChat, Tik Tok, Facebook, Instagram, and Web. There are actually people spending hours in VR. Literally just go look at Valve's Steam Player Statistics(Concurrent users). At least four hours. And guess what? People are fucking in VR Chat. They put on Avatars and
    role play. This is already a thing. There just hasn't been much proper deployment. Currently testing Facebook AR campaigns for my clients right now and they are out performing all previous content that our client has prior.

  5. As technology continues to evolve you have to continue reinventing your company to compete and to stay profitable

  6. The worst words to hear in business: “we have always done it this way”

  7. Thanks you so much Gary VEEEEEE you’re the best because of you’re free advice and knowledge I started my own podcast on YouTube and it amazing happy holidays 🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄⭐️❤️

  8. Happy holidays Gary VEEEEEE you’re the best 🎄🎄🎄🎄🎄🎄🎄❤️❤️❤️❤️❤️🎄🎄

  9. It's almost 2020 and some people still have not yet understand how important it is to have a entrepreneurial mindset. This idea has helped me gain thousands of YouTube subscribers, monthly brand deals and sign with a PR marketing firm by simply providing valuable and Evergreen content to viewers. You must take advantage of the opportunities available on the internet. This will change your life for the better where you may not nees to rely on retirement, social security and or the stock market. The internet is here and it is very mature. Take advantage. Happy 2020

  10. XD so many comments replying to the video 20 seconds after it was published WTF!? Ironically, the last video was talking about being just a title reader and coming into conclusions without understanding the topic enough



    Replace bad habits with good ones

    Instead of watching, start reading

    Instead of sitting, get active

    Instead of eating junk, eat better

    Instead of consuming, create

    Start preparing yourself for 2020 with simple behavior changes.

  13. You must continuously adapt to changing environments. If you don't, good luck.

  14. They get complacent with what they have, and next thing you know boom ! There gone ! I say this all the time on my YouTube channel! Don’t get lazy !

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