Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAPClassic: How Daymond John is Empowering The Next Generation Through Financial Literacy | #BlackEntrepreneurs

Feb 23, 2024

Daymond John shares his journey from a scrappy kid to building a $6 billion brand, FUBU. He discusses empowering the next generation through financial literacy, his early entrepreneurial itch, lessons learned from Jay Abraham, the impact of his mother's support, and the importance of teaching kids financial intelligence and new role models.

53:25

Episode guests

Daymond John

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Episode notes

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Quick takeaways

Daymond John's early struggles fostered his entrepreneurial spirit and drive for success.

FUBU's inception addressed the lack of representation for urban communities in fashion.

Financial literacy is crucial for business sustainability and overcoming setbacks in entrepreneurship.

Teaching children financial intelligence early on empowers them for future financial success.

Deep dives

Inspired by Young and Profiting

The podcast's focus on Black entrepreneurship, featuring interviews with successful business owners, highlights the journey of Damon John, CEO of FUBU and a Shark Tank investor. John's story emphasizes the notion of staying young through learning and exploring new ventures, inspiring audiences of all ages to pursue their entrepreneurial goals.

Introduction

6min

The Rise of Fubu: Creating a Global Lifestyle Brand

14min

Exploring Remote Work, Airbnb Hosting, Shopify, and Indeed Hiring

5min

The Impact of Mother's Support on Business Success

5min

From Rejecting Shark Tank To Unexpected Kardashian Connection

7min

Exploring Online Education and Meal Delivery Services for Professionals

5min

Empowering Children Through Financial Literacy and Entrepreneurship

16min

When Daymond John was 10 years old, his parents got divorced. His father left and Daymond never heard from him again. As a result, Daymond had to find scrappy ways to make money so he and his mom could put food on the table. Over the years, Daymond has found other creative ways to solve problems and generate profit, which is how he built a $6 billion clothing brand. In this episode of YAPClassic, the People’s Shark will unpack how he built FUBU and why he’s focusing on empowering the next generation through financial literacy. This episode is part of a special YAP series honoring Black History Month called #BlackEntrepreneurs.

Daymond John is a New York Times bestselling author and the CEO and founder of FUBU, the $6 billion global lifestyle brand created to represent overlooked communities. He is also a star and original member of ABC’s four-time Emmy Award–winning TV show Shark Tank, where he invests and helps entrepreneurs grow their own businesses.

In this episode, Hala and Daymond will discuss:

- Daymond’s early entrepreneurial itch

- How Daymond’s side hustle became the global brand FUBU

- What Daymond learned from Jay Abraham

- Daymond’s mother’s influence on his life

- Becoming a Shark on the hit show Shark Tank

- Why most of America does not have financial literacy

- How to teach financial intelligence to our kids

- Daymond’s 3-dollar rule

- Why kids need new national role models

- And other topics…

Daymond John was born with a passion for entrepreneurship. Daymond is CEO and founder of FUBU, the $6 billion global lifestyle brand created to represent overlooked communities. He is also a star and original member of ABC’s four-time Emmy Award–winning TV show Shark Tank, helping entrepreneurs and business owners grow their own businesses. He continues to work with a number of philanthropic organizations to educate and empower future generations, including My Brother’s Keeper, the Network for Teaching Entrepreneurship, and the NAACP, to name a few. Daymond is a New York Times bestselling author, and Little Daymond Learns to Earn is his first book for children.

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Resources Mentioned:

Daymond’s Website: https://daymondjohn.com/

Daymond’s LinkedIn: https://www.linkedin.com/in/daymondjohn/

Daymond’s Twitter: https://twitter.com/thesharkdaymond

Daymond’s Instagram: https://www.instagram.com/thesharkdaymond/

Daymond’s Facebook: https://www.facebook.com/TheSharkDaymond/

Daymond’s Book Little Daymond Learns to Earn: https://www.amazon.com/Little-Daymond-Learns-Earn-John/dp/0593567277