“If I’ve learned one thing in this life it’s this: even if you lose, don’t lose the lesson” — Daymond John
Daymond John is a successful entrepreneur, speaker, investor, philanthropist, author and television star. As one of the investors on ABC’s Shark Tank, Daymond has become a household name.
Thirty years before the glitz and glam of Hollywood, Daymond was working hard to build the FUBU clothing company. Eventually, FUBU grew into a billion-dollar global brand.
After FUBU’s phenomenal growth, Daymond began to share his success tips and strategies with other entrepreneurs. He imparts his wisdom through books, mentorships and career strategies conferences.
Wouldn’t it be great to have Daymond John as a career and business mentor? While that may not be possible, you can learn from and implement his strategies. Here’s what Shark Tank’s Daymond John has to say about becoming successful in your business or career.
Educate Yourself
Knowledge is power. It is essential to learn as much as you can about your industry. Even if you can’t afford to invest in a college degree, that shouldn’t prevent you from learning. You can get information from books, websites, YouTube videos and mentors. This is what Daymond John has to say about constantly educating yourself.
“I didn’t go to college because I couldn’t afford it, but that doesn’t mean I stopped learning after high school. When I worked at Red Lobster, I asked questions, listened and learned about customer service, employee management and inventory control.”
“A college degree or an advanced degree in business isn’t necessary to be successful. There is no substitute for experience. Hustling every day makes you stronger, smarter and better. You have to make things happen.”
Master Essential Skills
Your skills are what will distinguish you from other players in your industry. Keep developing the skills that are necessary for you to get ahead. Networking, communication, financial and interpersonal skills can help your business and career. Daymond knows a thing or two about mastering skills.
“Develop healthy habits and disciplines. Invest time and effort into creating habits that work for you.”
“Confidence is key. In the beginning of my journey, I didn’t have confidence in myself. I started to put myself out there so I could develop the confidence I needed to get ahead.”
“Become financially literate. Money is a great slave, but a horrible master.”
Networking
Want to impact your community or the world? You must learn how to connect with all types of people. Growing your business or career is about developing strong relationships. Daymond John attributes his success to the relationships that he has maintained throughout the years.
“Attend networking events, workshops, conferences and trade shows. You will meet lots of people who can share their knowledge and experiences with you. While starting FUBU, I attended several workshops and I learned a lot.”
“Networking has to be more than just about meeting people. You have to build deeper relationships in a variety of industries. My definition of networking is interacting and connecting with people to expand your contact list.”
Daymond John’s top three networking tips are:
- Build authentic personal connections by having real conversations with people.
- Research conferences, meetups and trade shows to identify which events interest you. Sign up for conferences that pique your interest.
- Look for ways to provide value to the people that you meet.
The Art of the Side Hustle
The side hustle has been around for hundreds of years. Even if you have a full-time job, there is nothing wrong with having a side hustle or two. Not only can you make more money, but you can also diversify your income portfolio. Daymond John has mastered the art of the side hustle. Here’s what he has to say.
“My mother didn’t have a business, but she had a side hustle. She taught me how to put that hustle into a business.”
“When I was a child, my mom would use her Cadillac Eldorado to transport people from the subway station to the bus for 50 cents each way. Her entrepreneurial spirit taught me how to use what I have to make a way for myself.”
“Pick side hustles that challenge you. Successful people are always in pursuit of a new challenge.”
Find Success Through Failures, Missteps and Struggles
Failures and struggles are inevitable. If you take a chance and start a business, there’s a chance that you will lose – big time. On the road to success, you may fail more times than you succeed. When you fail, you have two choices – keep trying or quit. Let’s explore what Daymond John has to say about failures, missteps and struggles.
“Failure is a necessary process. I opened and closed FUBU three times between 1989 and 1992 because I lost money. My love for the company and industry drew me back in.”
“While building FUBU, I had 2,000 moments of self-doubt. I wanted to quit, but my FUBU partners gave me the strength to keep going.”
“It is impossible to have success without failure. I failed countless times before I succeeded with FUBU. If you’re a true entrepreneur, you must be willing to own your mistakes and take risks.”
Give Back
Contrary to popular belief, you don’t have to wait until you are rich and famous to give back. Take an inventory of what you have to share. Start where you are with what you have. You’ll be surprised at how you can impact one person or an entire organization. This is what Daymond John thinks about giving back.
“I feel a duty to give back. I feel lucky that I have television and social media platforms to share my messages. Many entrepreneurs look to me for guidance on how to grow their businesses. It is my responsibility to share as much as I can.”
“Start a company that contributes to a cause in some form or fashion. Consumers who buy products want to know what your company is doing for other people.”
Want to learn more about building a successful career from Daymond John? The following resources can help.
- Powershift: Transform Any Situation, Close Any Deal and Achieve Any Outcome by Daymond John
- Rise and Grind: Out-Perform, Out-Work and Out-Hustle Your Way to a More Rewarding and Successful Life by Daymond John
- The Power of Broke: How Empty Pockets, a Tight Budget and a Hunger for Success Can Become Your Greatest Competitive Advantage by Daymond John
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