Daymond John // Shark Tank, FUBU + The Power of Broke

Daymond John is a rare force of nature. He’s a true serial entrepreneur involved with more than 80 businesses & investments. He founded FUBU, the lifestyle fashion brand that has brought in more than $6 billion in sales. He’s a regular on the Emmy award winning show “Shark Tank” and has published three books including the NY Times best seller: The Power of Broke.

He was named by President Obama as a “Presidential Ambassador for Global Entrepreneurship” and travelled with him on his historic trips to Cuba & Kenya.

We discuss what he’s learned from all those years, how he thinks about new business ideas, applying the “power of broke” to test out customer needs, focusing on the best opportunities, his role as a leader in the current political climate & his latest venture, a co-working space in NYC called Blueprint + Co. 

 

5 THINGS TO LISTEN OUT FOR:   (1) Ideas – how he thinks of business ideas & focusing on the most important opportunities   (2) Blueprint + Co – why he’s opening a co-working space and how he thinks about differentiating from WeWork and startup spaces   (3) Power of Broke – why it’s important and how he applies this mindset to all his businesses   (4) Role In Society – thoughts on the current political climate and how he sees his role as an entrepreneur & leader   (5) Fear – using knowledge to combat fear     TIME STAMPS: 

• Who is Daymond? [1m22s]
• What is Blueprint + Co and similarities to FUBU: For Us By Us  [2m14s]
• Where the idea came from & differentiating from WeWork / startup co-working spaces [3m41s]
• Having a need yourself and turning it into a business [3m58s]
• Members of blueprint + co include: Ashley Stewart & Leesa mattress [5m5s]
• Focusing on best opportunities with 80 businesses & investments [7m37s]
• Investing vs starting business himself [9m17s]
• What he enjoys most: starting, investing or corporate? [10m31s]
• What is the power of broke? [11m51s]
• Problem for small businesses when they are overfunded [13m35s]
• You cannot buy your customers & thoughts on customer acquisition [14m4s]
• Selling one hat at a time, comparisons to Mark Zuckerberg and Facebook [14m27s]
• Applying power of broke to blueprint + co [14m36s]
• Finding product market fit for blueprint + co and thoughts on adapting product over time [17m6s]
• What matters to him most and what keeps him going? [18m41s]
• Current political climate and what he thinks his role is as and entrepreneur and leader [20m39]
• Dealing with fear [23m44s]
• Knowledge + Fear [25m21s]

All show notes and other episodes available at: https://www.creatorlab.fm

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