Daymond John Quotes
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Most brands started from a strong base and kept a strong belief.
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The things that I've learned is, try to make all the mistakes with your own money and on a small level so that when you are responsible for a partner's money or assets, you've learned, and you don't make bigger mistakes.
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Mentors, by far, are the most important aspects of businesses.
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Learn as many mistakes and what not to do while your business or product is small. Don't be in such a hurry to grow your brand. Make sure that you and the market can sustain any bumps that may occur down the road.
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Every problem can be solved as long as they use common sense and apply the right research and techniques.
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I've learned, like with anything else, business is only as good as your connections and your resources. And some of the resources that I have are the fact that I work with huge artists.
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When I first came into money, I bought six or seven homes. One weekend I went to Miami and bought an apartment and a mansion several blocks from each other, which was not that bright!
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If I invest in a CEO, I need him or her to have experience in sales.
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I already have enough apparel businesses that are either doing well or not really doing anything at all, and I'm looking to broaden my portfolio.
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I consider each business investment based on concept and revenue.
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If you go out there and start making noise and making sales - people will find you. Sales cure all. You can talk about how great your business plan is and how well you are going to do. You can make up your own opinions, but you cannot make up your own facts. Sales cure all.
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I started FUBU in 1989 but ran out of money three times and closed it down.
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I don't care if you're my brother - if we go play football, I'm gonna try to crack your head open. It doesn't mean that I don't love you. It doesn't mean that I don't respect you.
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Fortunately, right now 'entrepreneurship' is one of the business world's biggest buzz words and so many young people in our country are looking up to this new generation of CEO's as their modern day rock stars. Whenever you have that effect, it makes the job of promoting entrepreneurship much easier.
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I think that in the earlier days, when I was a 'wantrepreneur,' I was really doing things because I thought what I wanted was to be rich.
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Good grooming is integral and impeccable style is a must. If you don't look the part, no one will want to give you time or money.
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I look to work with businesses that know what they are doing but need larger distribution or exposure.
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I think Wall Street is very important, especially to tech companies. Wall Street will get in their rhythm and go fund tech companies, and tech companies will go create jobs and employ a lot of people, so there's that aspect of Wall Street.
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I've come to learn that my initial investment is more about the person versus the product that I am buying into. I've also learned that I really do enjoy giving worthy people an opportunity of a lifetime.
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I like to look at things that have been developed and re-developed over the course of time so I know the bugs are worked out of it. And in the business itself, I like to look at sales, by far. I want to see that there is a vetted track record of sales to show the price point has worked.
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When looking at trends I always ask myself basic and timeless questions about business, and the one I seem to always come back to is, 'How is this different than anything else in the marketplace?'
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I've failed way more than I've succeeded.
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Mentors don't have to be the Daymond Johns or the Mark Cubans. A person running a successful bodega or a tax firm in your community for the last 20 years, that person is working just as much as the individual who's running General Mills.
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Five days a week, I read my goals before I go to sleep and when I wake up. There are 10 goals around health, family and business with expiration dates, and I update them every six months.