Daymond John is an original Shark Tank shark (the 17th season premieres September 24), the visionary CEO behind the iconic global fashion brand FUBU, the founder of The Shark Group, a philanthropist and so much more.
Following his fired-up talk at Entrepeneur‘s Level Up conference in Las Vegas, we caught up with the man to get a quick hit of inspiration and advice to shake off the end-of-summer blues and get back into the mindset of drive and success.
What questions should founders ask themselves before launching/fundraising?
Start with the hard questions. Why am I the right person to solve this problem? Do I really know my numbers, my market and my customer? And am I willing to eat, sleep and breathe this business when the cameras are off and no one’s clapping? Too many people want to raise money just because it looks sexy. But if you can’t show proof that you’ve tested, hustled and gotten traction — even on a small scale — you’re not ready to take someone else’s cash.
Related: The Most Important Part of Starting a Business: Daymond John
Shameless plug: my book, Power of Broke, is also my philosophy. Don’t think you need millions to get started. In many cases, being limited by capital is an entrepreneur’s true competitive advantage. Some of the best businesses were born from taking small, affordable next steps — selling one product, testing one ad, talking to one customer.
Why is a founder’s personal brand important, and what is your advice for developing it in a way that bolsters your business?
Your personal brand is your reputation. It’s what people say about you when you leave the room. Today, people don’t just buy your product — they buy into you. That doesn’t mean you’ve got to be loud on social media or try to be someone you’re not. It means you’ve got to stand for something. Be authentic, be consistent and tell your story. FUBU worked because it wasn’t just clothes — it was me, my community, my mission.
But also use what is in front of you. When I started FUBU, it was me and my friends, a sewing machine and ambition. We didn’t know anything about manufacturing and infrastructure. It’s different today, and for the better. There are companies to help inform and teach entrepreneurs of all ages about how to make their products more turnkey by working with companies that understand exactly how to do it.
Related: These Are the 3 Things That Make Daymond John Want to Give You Money
What are some of the biggest issues entrepreneurs are facing today?
From what I’ve seen from my companies and companies I’ve invested in, the biggest issue has been supply chain uncertainty. Some of these recent tariffs caused some companies to go from profitable to unprofitable overnight. Plus, the back-and-forth on what tariffs are still in play causes confusion and makes everything slow down.
That’s why I’ve been working with Alibaba.com and why I’m headed to its annual event, CoCreate. They’ve created this community and platform of vendors to allow entrepreneurs to cut through the noise and find solutions. We need more events like this to better highlight that there are answers to entrepreneurs’ questions. You just need to know where to go to find them.
What are the keys to staying energized and engaged when constantly working your butt off?
Look, being an entrepreneur is like running a marathon at a sprinter’s pace. You’ve got to pace yourself, because burnout is real. For me, it comes down to a few things: I protect my health, I surround myself with the right people, and I remember my “why.” The late nights and early mornings don’t feel as heavy when you’re chasing a mission bigger than yourself. And you’ve got to celebrate the small wins along the way — because if you’re always waiting for the big exit, you’ll never feel satisfied. But everyone has to find their own system that works for them.
Daymond John is an original Shark Tank shark (the 17th season premieres September 24), the visionary CEO behind the iconic global fashion brand FUBU, the founder of The Shark Group, a philanthropist and so much more.
Following his fired-up talk at Entrepeneur‘s Level Up conference in Las Vegas, we caught up with the man to get a quick hit of inspiration and advice to shake off the end-of-summer blues and get back into the mindset of drive and success.
What questions should founders ask themselves before launching/fundraising?
Start with the hard questions. Why am I the right person to solve this problem? Do I really know my numbers, my market and my customer? And am I willing to eat, sleep and breathe this business when the cameras are off and no one’s clapping? Too many people want to raise money just because it looks sexy. But if you can’t show proof that you’ve tested, hustled and gotten traction — even on a small scale — you’re not ready to take someone else’s cash.
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