Career & Business

Daymond John on Why You Need to Keep a "Broke" Mindset in Business

July 18, 2017

Hi! I'm Marie

You have gifts to share with the world and my job is to help you get them out there.

Read More


Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.

Button Text

Do you ever feel like if you had a bit more money (or connections, advantages, etc.) — you could really get your business going, grow your brand or finally make that impossible dream come to life?

It’s common to think this way, but it’s not necessarily true.

Countless start-ups burn through piles of cash starting a business that never fully gets off the ground. Big-budget, mainstream brands often stumble — no matter how many people they employ or know.

Now consider this.

What if having little to no resources could actually be your greatest competitive advantage as an entrepreneur?

Just let that sink in for a minute.

Because, as you’re about to learn, imagination and a ferocious drive to succeed can help you tap into a power far greater than cash or connections. It’s a power that’s within you right now. The best part — as long as you know how to use it, you’ll never run out.

My guest today is Daymond John, a star on ABC’s Shark Tank and founder of FUBU, a $6 billion dollar brand he built from scratch from a mere $40 budget. Watch and discover:

  • Why desperation often leads to extraordinary innovation and extreme creativity
  • How Daymond struggled in school not knowing he had dyslexia, and still found a way to thrive
  • The truth about the long game: why even when FUBU started to look like a success, Daymond was still working a day job at Red Lobster
  • The 27 times Daymond got rejected from banks and how Mom’s advice saved the day
  • How losing $750K during year one of Shark Tank taught him the expensive lesson that money does NOT solve business problems
  • Why mentors are great — but, when it comes to success, cheerleaders can be even better

I’ve known Daymond for a few years now and just adore him. He’s a phenomenal entrepreneur, funny as all hell and real about what it takes to make your dreams come to life. Pick up his book, The Power of Broke, for more on how limitations like a tight budget can be your greatest asset when starting a business.

DIVE DEEPER: Do stories of successful entrepreneurs make you feel behind? These three revealing truths about overnight success stories should slow your roll.

Once you’ve had a chance to watch, I’d love to know: what aha or lesson from this conversation is most relevant to you now — and why?

Leave a comment below and share as much detail as you can in your reply.

Thousands of incredible souls come here each week for insight and inspiration, and your perspective may help someone else have a meaningful breakthrough.

Important: share your thoughts and ideas directly in the comments. Links to other posts, videos, etc. will be deleted as they come across as spammy.

No matter what you’re facing right now, there is a path ahead. You can use your heart, dedication and imagination to find a way, or make a way. Everything is figureoutable.

Thank you so much for reading and watching. Share this episode with a creative you know who feels limited by their lack of resources.

And don’t forget — if you prefer to listen and learn, subscribe to The Marie Forleo Podcast on iTunes or Stitcher. You’ll get this episode and more.


View Comments