Daymond John was an ordinary guy working as a waiter in a restaurant and in his spare time started FUBU(For us by Us) a sports apparel company with just $40 and turned it into $350+ million in revenue.
Let us check out how he did it.
What you could learn from this episode:
- How he overcame his bad childhood
- What he learnt from his mother.
- How he noticed an upcoming music trend happening in his poor community.
- How he got rejected by “white” companies.
- How his own problem of not being able to afford an item he liked sparked the idea for his business.
- How he validated if people would like his clothing.
- Should he still work as a waiter or run his business full-time
- What he did to keep expenses very low
- A remarkable low-cost marketing strategy, since he did not have money for marketing
- How he got money to start his business, when he didn’t have enough money.
- What his business really represents and what kept him moving forward.
Resources mentioned in this episode:
- The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage – A book by Daymond John, the founder of FUBU
