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Episode #shark
Insights and Strategies with The Shark | Daymond John with Joe Polish
In this episode, Joe Polish interviews wildly successful entrepreneur and world-renowned shark Daymond John. His company, FUBU is now worth six billion dollars, and he is ready to share his insights to help you get to that same point of exploding success. Learn about Daymond’s life experiences as an entrepreneur, and how he took on the entrepreneurial world by storm.
Here’s a glance at what you’ll learn from Daymond in this episode:
- The 2 best pieces of business advice Daymond has ever received
- 3 key elements to building a billion dollar brand
- Daymond shares how his investments on Shark Tank has played out and how he looks at angel and venture investing
- How to attract star talent to your team and keep them long term
- Daymond shares his candid thoughts about Time Management (and why it can be a challenge)
- 2 strategies for saying “no” to things when people are hitting you up from all angles
- Daymond reveals his goal setting process and how he stays hungry despite all his success
- What you can learn from the rap game to transform adversity into success
- One of the biggest opportunities Daymond is seeing right now in the marketplace that smart entrepreneurs can capitalize on
- The Dark Side Of Success And Fame: “I think the darkest side of success and fame is…” You have to hear what Daymond says…
- Who Daymond privately turns to for advice
- Daymond gives his philosophy for living a successful life
- Daymond John’s extensive introduction [01:05]
- What Daymond thinks of his intro video [05:30]
- “You can make anything look good.” [06:05]
- Daymond’s history and his drive to succeed [06:38]
- He opened his first business when he was 6, making money off of boys’ crushes in school [07:10]
- A criminal background is a common theme in successful entrepreneurs [08:10]
- What is was like to borrow money to mortgage a house [08:25]
- They turned the house into a factory for his business, but he still ran out of money to pay for his home [08:55]
- His mom took out an ad to get him the money he needed [09:45]
- Daymond’s best business advice: Don’t spend all your money, kid. [10:30]
- How he built a 6-billion-dollar brand [11:20]
- Distribution is key to building your business [11:35]
- Don’t think your product is new, it’s only different [11:50]
- Creating strategic partners to understand your audience [12:15]
- What it would be like to fight Kevin O’Leary [13:35]
- The secret factors that drive growth and success [14:20]
- How his investments have worked out on Shark Tank [15:15]
- How Shark Tank has evolved and investments have gotten better [15:54]
- What should people invest in today? [16:45]
- How much Daymond reads [18:00]
- The key things to developing talent and stars [18:45]
- You have an obligation to your company, and if you do well enough Daymond will partner with you [19:15]
- How Daymond manages his time [20:10]
- He has really struggled with time management, between family, health, and learning new things [20:30]
- Focusing on daily tasks that need to get done immediately [20:55]
- The value of a solid form of communication in your business [21:16]
- The biggest opportunity for entrepreneurs right now [22:00]
- Today, you communicate directly with a proprietor [22:15]
- Creating a total movement [23:05]
- Daymond turns to his kids for advice [23:25]
- His business model is focused on having fun [24:00]
- Even in the beginning of FUBU, he knew he had to have fun [24:25]
- The dark sides of success and fame [25:30]
- The challenge of not being there in key moments with your family [26:05]
- The right point to sell, stop, or share your business is the entrepreneurial struggle [26:30]
- His best businesses required him to think [27:35]
- Don’t get stuck in a certain business just because someone says you should stay there [28:35]
- People who tear him down, while begging him for money [28:55]
- With the people he knows personally, he has learned to become comfortable with his gut [29:35]
- People have to go through a lot of hoops, and he has learned to stay in a specific area [30:05]
- Questions from the audience [31:08]
- He tracks his goals by writing them in his phone and reading long-term goals every night and every morning [31:20]
- He stays hungry to keep moving forward by surrounding himself with people who keep him on track and believe in him [32:35]
- Utilizing the haters vs. the people who love you [34:24]
About Daymond John:
Daymond John, President and CEO of FUBU, a six billion dollar clothing company, has experienced the rise of entrepreneurship like very few people have. Taking a market that did not even exist to an international level of recognition is quite an accomplishment. Daymond built an empire where most did not even see an opportunity. As a host on ABC’s hit show Shark Tank, Daymond has been able to help other entrepreneurs at the very beginnings of their businesses.
In 2007 the street-smart businessman penned his first book, Display of Power: How FUBU Changed a World of Fashion, Branding & Lifestyle, which was named one of the best business books of 2007 by the Library Journal. Known as the “Godfather of Urban Fashion,” Daymond is regarded as one of the most sought-after branding experts and keynote speakers in fashion and business today.
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