Daymond John: 7 Lessons on how to be an entrepreneur (start a business with no money)

This Post: Daymond John: 7 Lessons on how to be an entrepreneur (start a business with no money)

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hey what’s up everyone this is your host cam to McKenna’s and i have another book review / book notes playlist episode here for you so currently well recently actually I just finished the book called the power of broke by Daymond John it’s a pretty decent book it wasn’t as great as I expected it to me but I’ve always been a big fan of Daymond John mainly for his story about how he went from you know selling a clothing that he would like hand stitches logo on he you know have his only you know he stitches logo on his own hats and that he would sell them just in the middle of New York City and that’s how I FUBU got started and actually is his story actually inspired me a lot actually created like a little motivational video just messing around with some software that I have on my computer here and it turned out pretty well but anyways um yes we’ll just get right into the review hold on let me pull up my notes here so in the book he interviews a bunch of different people one of them is rob dyrdek from Robin big the famous skateboarder and I actually didn’t know this but he had a really great story about how when he was younger one of the things that he did was that he wanted entered he wanted to enter the skateboarding competition and he made an offer with the organizers that if he signed up ten people that they would let him in for free so he ended up pulling that off and displaying his skateboarding skills and I’m not too sure how the skateboarding world works but basically ended up getting signed or you professional skateboarding people would probably know how how all that shit goes but basically that was the start of his career and actually let me back up a little bit so the power of broke the whole philosophy is that being broke can either stifle you and stop you or it can be a power that you can harness and uses become more creative and he also makes it clear that he’s not trying to lower Phi being broken not having money because we all know that success is a lot easier when you kind of do have money to help deal with your problems especially personal problems in life we’re dealing with tragedies like sickness you know it’s it’s a would be pretty shitty to be broke when you’re you know having to sit in the hospital or having to lino died from cancer or something or having to you know miss out on work when you’re working nine to five minimum-wage job and you’re having to lose hours and yet cuz cuz life life isn’t stopped right you still have to pay your bills you still have to pay your rent all that other shit so the power broke is taking your situation and kind of basically turning shit into sugar instead of being like I’ll just be blunt so they’re being a little bitch about it you kind of look for other ways that you can capitalize on because I you know I’ve been in the situation myself many times we’re being broke and in Daymond John I actually said this in the book is being being broke was the most powerful tool that he had and one of the course that I loved as well was that throwing money at a problem doesn’t make it go away and that really says a lot because again you can have a bunch of money and you can throw money at a problem but if it’s not spent intelligently if it’s not spent creatively if you’re not looking for new ways and new ideas to do things you’re likely not going to get very far and there was another story that was pretty pretty good Josh Peck from the show Drake and Josh they go back to his childhood where he was living with his mother and he basically activated the power of broke by going to all these auditions and really grinding it out his mother was pretty much had seasonal work she didn’t really have a stable job she was a bit she was kind of an entrepreneur and during the summertime was when she was most working most often so during his earlier career when well when he’s my kids career started what he was doing it was he was going to audition the Lions what had happened was his mother was kind of you know doubting him a little bit kind of didn’t want to necessarily be too involved with it because she wasn’t necessarily sure if anything was going to come out of it there were lots of kids that looked just like Josh Peck another chubby funny guy you know the whole Jonah Hill look and he and josh peck just decided screwing this is what I want to do this is what I’m going to do and he just kept grinding at it he kept going to auditions our cattle calls is what is what they call them until eventually ended up getting the part which we all know him if your were born in the 90s and you’re about 26 years old like me you remember him from them TV show Drake and Josh and now he’s you know when he’s a little chubby kid now he’s in good shape a fairly decent looking man now and I will say this oh yeah and they’re not enough of that they talk about when Josh Peck after you know his career kind of ran its course with Drake and Josh she got a few film roles but he was unsure of where to go next and he wasn’t you know acting was kind of his acting roles are kind of slowing down and he just wasn’t sure what to do with his career so and he was broke so what he did was is that fortunately for him he had built his name and he activated the power of broke by being creative and being innovative and he started to take his comedic talent and started doing vine videos and YouTube videos and apparently I haven’t kept up with any of his work but apparently he’s huge on Instagram and on facebook and on YouTube and um he’d like again there were some criticisms about the book because Daymond John did use a lot of famous people I personally would have preferred to hear more about how him and his friends were struggling and fighting through fubu not to do to grow FUBU I would have definitely prefer to hear a lot more of that than just a bunch of other people’s stories and maybe just a little bit of stories here and there from other famous people but I also would have preferred to have heard more sorts of people who weren’t really that famous you know people who more people can relate with people who weren’t relying on you know physical talent or meat or musical talent or anything like that just like more normal people who ended up becoming self made that way I definitely would have preferred that and a lot of people I online criticized the book for for that is I wasn’t really relatable there was one review on a goodreads com or a woman was like oh thank you Daymond John you wasted my time this isn’t a book that is relatable to single mothers and I won’t say it was a waste of time but that is one of the criticisms that I do share and understand is that I do feel like he tried to leverage more of his celebrity contacts to you know maybe get the book done faster or maybe to help it become more marketable and there were a lot of bet you know no matter what you do yours and get bad reviews on something like I have video right now that has over 5,000 something likes and even that has no I saw five thousand something views and 195 likes and even that has five dislikes and it’s an awesome interview that I did with Alan Roger curry the author of mode 1 so if you’re listening to this check that out but anyway it’s like no matter what you do is people are always going to dislike it but that is a criticism that I did share and what else I’m trying to think there was there’s a lot of really great lessons on it and I’m going to go through them another criticism that I did have it but I forgot this is that he cuz I got the audio book and he had hired someone else to read the audiobook and but i forgot that he’s actually dyslexic and reading it would have been a bit of a challenge for him so i’m going to let him off the hook for that but you know when you listen to i most listened to grant cardones new book um be average or be ordinary no BB obsessor be average and you know if those are you know who’d grant cardone is that guy is the best when it comes two on nobody does an audiobook like him he doesn’t even read the book word by word like he like when when you get an audio book by Grant Cardone you’re getting much more content than what is in the book so yeah so I’m I’m listening to both of them at the same time I’m still on Grand cardones books when you compare the two grants book is held a lot better but this book was still really good i just wish that he went more into detail about his own personal story and i’m not sure if he already has a book on it or what but that’s just what i was really hoping he was really going into because his story is really inspirational taking just taking levi teens putting a his own little stitch logo on it and then selling it and selling hats and you know those you also don’t know Daymond John remember him saying it in an interview that he had a forefront one friend promised that he was going to be the best rapper who knows it’s him and through friends another friend said that he was going to be the best drug dealer and I’m not sure for the other friend was and and he said he was going to be the best entrepreneur out of the group and they all ended up achieving that that movie belly is is based off of one a Daymond John’s friends and we all know what happened to him he’s that guys in jail for life and his friend I’m not make a member who the rapper is or I think it’s irv gotti the producer that that guy was I’m about 100 percenter or might have been Dame Dash i’m not sure but pretty much they all ended up achieving their goals and i’ve always been a big fan of Daymond John just just just from his stories that’s why I actually bought the book and another cool fact was is that I believe how many sharks should I think there’s four sharks and I believe three out of the four or no three out of just five sharks three out of the five sharks actually dyslexic so those are you for listening to this that didn’t know that that’s pretty amazing and I’m pretty sure one of them is kevin o’leary as well and probably Mark Cuban but I know Barbara Barbara is he he didn’t say that Barbara is one of the ones that are dyslexic so I thought that was really cool and really interesting for those of you who have struggled a lot in school that was one thinks he spoke about to was he struggled a lot in school growing up and his family was really concerned about what was going to happen with his life they never believed when he was in elementary school that he was going to grow up and be somebody so anyways I got the power broke lessons that I kind of wanted to share here and then we’ll wrap this up but I got seven of them and these are the power broke lessons in the book there’s much more this is just a small piece of what the book is about but just to give you an idea that’s a lesson that I have some of the notes that I’ve taken in written down and number one is use all the resources available to you learn how to use the resources to your advantage so just basically one of the things he was talking about was how you got to maximize whatever money you do have if you have friends and family that can help you go to them even if you need to move back into your mother’s basement do so if it means growing your business just whatever resources you have just use them even even if you only have one thing use it to the max maximum and you’re going to be better off than how you would if you weren’t going to use it and a lot of thing is to a lot of people have a hard time asking for help if you’re in a bad situation ask for help even if you are told no ask someone else and just kind of because there’s always people out there who are willing to help even if it’s just advice especially successful people so power broke lesson number two is keep it real strive for authenticity by putting your own twist on everything you do that’s pretty much self-explanatory but what I can’t follow up with that is is that whenever someone sees somebody ripping somebody off or copying something excuse me it always leaves a bad taste in my mouth when I see that so speaking from personal experience I always some even in school I’ve all in doing the presentation stuff I always try to do my own little spin on something I always because I’m someone who always has to kind of color outside of the lines I just don’t like being I’m not gonna say I just don’t like being the same as everybody else cuz I’m better than better than them but I always like to kind of be creative because the more I know about what other people are doing the more I learn what I can do differently so I guess that’s the best way for me to put that power lesson number three learn the power of optimization so by this he means learning how to best use your time to getting your desired task done it’s best to take each day at a time last I listened to an interview with Tai Lopez we talk about optimizing optimizing for the day and as well as managing your money and resources to get the most out of it as possible number four understand that you’ll be rewarded by either fulfilling other people’s problems or filling holes in the marketplace if you can figure out how to do something better faster and make someone else life easier you’ll be much more valuable to other people which is very true now power Brook lesson number five put all your passive put all your passion and purpose and everything you’re doing so however he did war not to be too fanatical or irrational and I see this a lot with a lot of that network marketing multi-level marketing guys were it’s like yo bro you don’t want to be average um you know like it’s like it’s whole liver died the MLM company attitude and they I’ll another upon MLM guys but you know a lot of them who I come across our very rational thinking they’re like no man don’t be negative bro just positive thinking instead of I like to paint on positive thinking a little bit because a lot of people use positive thinking to avoid reality and to avoid problem solving pop positive thinking doesn’t mean avoiding problem solving and solving your problems and confronting them in admitting your problems so that’s one of the things he was kind of talking not not the MLM but you know not to be fanatical and irrational you don’t want to come across as someone who you don’t want to come across as someone who is a complete nut job and also this will make it difficult for other people to trust you as well because if everything is perfect about your product everything’s perfect about your business plan if you can’t admit your your weaknesses and when we all have them nothing is perfect then you can’t be trusted and it’s just as simple as that number six appreciate everyone you meet on your road to success and this is something that I’ve been doing for a very long time you never know who that person could be later on down the road if you show them respect chances are they will show you respect as well and this this is actually why I tried to accept as many requests for people to come on to my show as much as possible because you just never know who may end up as the next best selling author that will appear on you know the Oprah network or something especially when they’re first starting knows I do my best to not reject any authors who are interested on coming onto my show obviously I get a lot of requests and I gotta read their book first or at least read half of it and get a whole there’s there’s a whole lot of stuff that goes into my show sometimes otherwise and any time you listen to my show you can always tell that when I’ve taken a show like last minute because I’ll not really know how to question them so I try to be as strict as possible like if you go back to my Sarah central episode the woman who wrote hustle receive and hustle believe and receive you’ll see that that went really well because I read the book if you go back to the Alan Roger curry episode called the beta mill revolution why men today have lost interest in marriage if you go back and listen that one you’ll definitely see that’s very well prepared for it not just because i read that I’m the book we were discussing but I read all of the other books prior to that so I make it my duty to really look through the author’s background and read the books as much as possible also I don’t want to be promoting crap someone wrote a really crappy book I don’t want them coming on to my show I want how the best quality as possible like I know it’s a new show and everything but the show’s not going to grow if I’m just allowing anybody especially in today’s world anyone can publish a book we can can write a book in a week and publish in 24 hours and Amazon will sell even though it’s full of errors and just complete crap so I’m very careful as much as possible on on who I let come on to my show number 7 expect to be successful so this is kind of this is goes back to a positive thinking by training yourself to see a positive outcome it reminds us and help to stay motivated and again in this book I didn’t write it down here in the notes because it’s kind of what i just said earlier you have to not take that as you avoid solving problems and avoid accepting the truth of situations it’s just the fact of the matter is you know positive thinking is not it’s not a way to escape and hide from the things you need a fix and a lot of people kind of take this positive thinking thing as you can you can you know the stupid people sorry if this is what you believe that the stupid people voice taking the positive thinking as I get to sit on my ass and imagine you know so imagine like John Lennon that this world is this beautiful perfect place when it’s not when in reality you know imagino the people you know the fact of the matter is in this real world you know you can be the most peaceful person in the world it can be the most happy person in the world the world is not a peaceful and happy place is always going to be negative things happening it’s always going to be murder people trying to steal from you you know you have to so so with that being said I’m kind of going on to a random some of those with that being said yeah through still be grounded within the real world you know imagine your outcome see your outcome as much as possible but in order to do that you have to solve the problems that come along the way so it’s not it’s not something that you should take to literally because you still have to keep one foot grounded here on planet Earth while your head kind of floats up to the sky a bit so anyways I guess that’s going to be it for now I’m currently reading three other books i’m reading the genesis conspirator the kid Genesis 6 conspiracy by Gary Wayne and that’s it’s a interesting history book with the Bible about Giants and stuff like that that’s what I’m currently reading i’ll probably leave a link in the description if anyone’s interested in reading that I’m reading The Millionaire fasten i’m going to upload a part two to the notes that I’m taking that’s it’s a phenomenal book I’m really digging it right now and what else my reading i just recently downloaded the book unbroken by hill by laura Hellenbrand and that’s that’s about the world war two pilot named Louie Zamperini it’s a very inspirational story if you’ve ever seen the movie unbroken that’s what it’s based off of so those are the books that I’m currently reading there right now all end up grant cardone um be obsessor be average so I’ll also leave a link in the description for that as well since I’m mentioning it and be on the lookout for that review and the notes that i have written down from that if you’re interested in these kind of videos subscribe to the channel check out my website I i currently have it posted i’ll i’ll have it posted in the description below and i’m currently working on a new novel 24 my book series called reach before were done and it’s actually based off of a nightmare re a recurring nightmare that I had for five years that I’m currently working on so i’m working on part 2 i’ll leave the link in the description for that with Halloween coming up and everything so it’s a it’s a pretty good book as well I’m eventually going to turn it into a TV series and yeah that should be lots of fun but anyways I wish you guys the best you got to have a great night please like share and subscribe and you guys have a great day you