As you can imagine from a guy with a website titled "Frugal Business", I'm a big fan of the rags to riches Shark Tank star and fashion mogul Daymond John. He started FUBU (For Us By Us) on the streets of Queens from the ground up by himself with almost no funds and turned it into a multi-billion dollar brand. He started selling clothes out of his car and now he owns more cars than you can imagine. He's currently a successful investor in dozens of businesses spanning a variety of industries. The Power Of Broke is a tribute to the success that can be achieved with enough hustle, creativity, resolve, resilience, and patience. Contrast his lean startup approach with tech titans Mark Cuban and (often to a lesser extent) Robert Herjavec.
The core principles of his success in founding and growing FUBU are always prevalent when working with entrepreneurs he's invested in. He won't be stingy with money for the sake of being stingy, but to the point where his entrepreneurs will have to learn and grow to solve the problem at hand. "Throwing money at problems never works" is a big theme with him. Not only will you potentially lose it, but you won't have to dig deep and solve the challenges in an efficient manner. The book consistently recounts his own entrepreneurial past, current business enterprises, entrepreneurs he's invested in (successes and failures), and the Shark Tank pitching / investment process. He chronicles the case studies of several rags-to-riches success stories like Steve Aoki (EDM DJ), Tim Ferriss Author of 4-Hour Work Week, GiGi Butler (a cupcake empire), and Mo Bridges (11 year old Shark Tank prodigy) to just name a few. He proves that there's nothing you can't do even with just a few dollars in your pocket and your back against the wall.
It's certainly a fantastic inspirational story for any entrepreneur, and you'll learn a great deal from the successes and failures he chronicles in his book. Believe me when I say that it will be money well spent. I don't buy many eBooks but
I hope you enjoyed this review of Daymond John's latest book "The Power Of Broke". Now get out there and hustle!
Interested in more great business book reads?
Read My Review Posts:
- Steve Jobs by Walter Isaacson Book Review
- Richard Branson's "Losing My Virginity" Book Review
As Always, Best Of Luck In Business To You All!
Michael J. Schiemer of Schiemer Consulting
Enthusiastic Entrepreneur & Owner of Frugal Business
Digital Marketing, Social Media, & Entrepreneurship on a Budget
Mike Schiemer Builds Better Business
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