Daymond John, the founder of the six-billion-dollar FUBU brand who’s known as one of the sharks in the TV series Shark Tank, is not going into stardom backed with riches and glory. Instead, he started out broke.
With $40 in his pocket, Daymond started out his fashion entrepreneurship career by selling home-sewn hats. He received no funding whatsoever, and has to work harder and smarter than anyone else in turning his dream into reality: Taking his product to the bigger market.
Using what he called as the “power of broke“, he took his FUBU brand to the top. His experience enables him to become an expert in starting out a business, consulting many businesses, teaching the owners how to thrive in spite of difficulties.
So, what does the power of broke mean?
In essence, the power of broke means having your back behind a wall, on the brink of failure, you have nowhere to go; you’ve got to find a way to get out of the situation and be successful – and that’s exactly what driving today’s successful business people from nothing to something.
Embracing power of broke: My story
On an obviously different scale, I can share that the power of broke has led me to the business venture that I have.
I’m an online entrepreneur and the owner of several websites, including Noobpreneur.com, one of Forbes’ top 100 entrepreneurship blogs in 2015. It wasn’t my dream, or I’m born with a gift of web development, blog building, etc. In fact, I started out with opening a business service store that carries one of the nation’s top franchise brands. And then I opened another one, using other people’s money (my family and friends’.)
Then through multiple incidents – mismanagement, economic downturn, etc. – I had to close not one, but both of them. I was near broke and took the Internet as a place to go. So, here I am, eight years later, running an online business, working from anytime, anywhere I want. I’m not considering myself as “successful” – but I’m getting there!
Are you embracing the power of broke?
Failure is a part of entrepreneurship. If you are an entrepreneur, I’m sure that you’ve experienced failures. So, how did you overcome it? Are you embracing the power of broke – something that makes you stronger every time you fail?
Please share your story with us.
Grab Daymond’s book!
Daymond recently (January 19, 2016 to be exact) launched a brand new book, The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success, that pretty much describing his successful career, along with stories from some of the world’s most popular business people and influencers, such as Tim Ferris, Kevin Plank, Jay Abraham, and many more.
Visit http://daymondjohn.com/pages/power-of-broke to learn more about the book, or go to Daymond’s YouTube channels to watch the interviews with amazingly successful people in his Power of Broke series, https://www.youtube.com/user/TheSharkDaymond