#182 Daymond John on The Skills You Need to Build A Multi-Million Dollar Business| Impact Theory

CEO Daymond John turned a forty dollar budget into the 6 billion dollar FUBU clothing empire. This is a man who grew up in Hollis, Queens, who didn’t see anyone who he could call a role model in the world of fashion, and who was told he would never amount to anything. So when he says, “If I could do it, you can do it”, he knows what he’s talking about. On this episode of Impact Theory with Tom Bilyeu, Daymond John shares the practical advice and no-nonsense wisdom that has made him incredibly successful. He discusses the three critical steps to negotiation, advises entrepreneurs to take what he calls “affordable steps”, and strongly advocates constantly seeking out new mentors.
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Daymond explains that no one is going to save you or even get you off the couch [1:23]
Daymond suggests that you write your own obituary and really take inventory [3:12]
Daymond shares the difficulties he has overcome in his own life [5:59]
Daymond’s mother always disciplined him and pushed him to own his own destiny [8:31]
Daymond knew what he didn’t want out of life, so he challenged himself [14:36]
Daymond strongly advocates constantly finding new mentors [18:11]
Daymond suggests knowing who you truly are before getting married [22:04]
Daymond describes the methods his mother used to educate herself [22:56]
Daymond suggests young people become financially literate and learning coding [25:03]
Daymond strongly advocates that people take what he calls “affordable steps” [26:55]
Entrepreneurship was hard for Daymond because he didn’t see black people in that role [30:43]
Daymond describes the traits he seeks in employees [35:35]
Daymond breaks down how negotiation works [37:32]
Daymond explains what you should do if you want to work with someone like him [40:25]
The key to negotiation is to figure out what’s in it for the other person [42:58]
The final part of negotiation is nurturing the relationship [45:10]
You need to have empathy for everyone you are negotiating with [47:11]

QUOTES:

“I’ve met people that are more successful than me, that had it harder than me.” [8:02]

“I’m in charge of my own destiny.” [12:18]

“When I see really, truly successful entrepreneurs, they failed six or seven or eight times.” [30:20]

FOLLOW:

WEBSITE: daymondjohn.com/
INSTAGRAM: instagram.com/thesharkdaymond/
FACEBOOK: facebook.com/TheSharkDaymond/
TWITTER: twitter.com/TheSharkDaymond