Daymond John

From Humble Beginnings To Self-Made Multimillionaire

Friday, March 29th, 2013

Daymond John took to the stage to a standing applause from the audience at Infusioncon 2013. The excitement in the room is tangible.

5 Shark Points – How to remain a shark, or How to become a shark.

When you’re a child and you’re starting to crawl and walk, you’ll fall. When you do your parents say “get up”. When you’re learning to speak as a child your parents say “good, speak up, keep trying”.

When you’re an adult and you tell your parents you want to go out and start a new business or solve the worlds problems your parents will say with good intentions “don’t do it”, “It’s too risky, stay in your job”.

So life starts where we’re encouraged to grow, take risks, move in new directions. But as we get older we’re told No. Stop. Don’t do that. Follow what everyone else is doing.

Daymond starts leading us through the story of his life and how his life has unfolded. More importantly, what the key triggers were that gave him the 5 Shark Points that made him who he is today.

There’s a lot of dialog which I simply can’t cover here due to the way he’s presenting, but I will share his 5 Shark Points with you.

Shark Point #1 – Set Goals.

Daymond first set goals while at a Run DMC concert. Take your inspiration and set goals.

Shark Point #2 – Homework.

Do your homework of your market. Why they use your product, how often they use it, how much value they feel they get for it.

Daymond’s first business name was BUFU. What he didn’t know was it represented something in the gay community. So, once finding out he quickly changed his name to FUBU.

Daymond shared how he hustled to get FUBU up and running. First by getting a photo with LL Cool J wearing his gear, the hustling into a Vegas expo and getting orders for $300,000.

Shark Point #3 – Love

Daymond loved what he was doing which made success much easier to attain. However, when he had some huge breakthroughs and became very wealthy, he started doing things for money and not out of the love of what he was doing.

When he lost that love for what he was doing, things went downhill, personally and professionally.

Shark Tank then became an opportunity for Daymond, and through a few turns of events he eventually landed an offer to be on the show. Daymond said he was chosen as the token ‘smart person’.

Shark Point #4 – Remember YOU are the brand

As a Shark, Daymond invests in people, not brands.

Challenge: Can you put your personal brand into 2-5 words? Daymond’s used to be; “Young, Wild & Fashionable”. Today it is “I’m on a quest”.

Shark Point #5 – You must keep swimming

Keep moving forward. If you try something and it fails, try something new.

Keep on swimming.