Shark Tank's Daymond John Gives His Top Business Tips
The FUBU groundbreaker shares his advice for success.
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Great Biz Shark - Daymond John, star of ABC's hit reality series Shark Tank, is an industry pioneer in the business world. Over the past two decades the FUBU creator evolved from a fashion icon to a marketing leader, author and motivational speaker. As Shark Tank bites into its sixth season, John checked in with BET.com to share key moments from his successful career and best of all — his top business tips. By Ronke Idowu Reeves
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A Mentor Matters - "I think the bottom line is we all need mentors. My mother mentored me. My mom was my main supporter. She was the person who educated me from the age of 6 that my day job is just going to pay me, but my night job will make me rich. My mother was the one to tell me to do everything that I love. "
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The Right Contacts - "FUBU was aligned with two amazing brands at the same time. We did the biggest deal that any private corporation ever did with Vibe magazine. We gave that publication its first $1 million check. And we did the first biggest deal of any private company with BET when we brought over $2 million dollars in advertising. Those $2 million on BET was worth $20 million dollars. We attribute BET, VIBE and LL Cool J for our success." (Photo: Fubu)
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Fulfill a Need - "Find your voice and the passion you love. When you’re talking to people, especially when you do social media, find a way to convert that to sales. If you’re a mom-preneur and you’re selling something, go into the mom-preneur scene and talk to other mothers. Tell them, 'Hey I’m selling this, I know it satisfies a need.' And sell it to them."
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Love Lesson - "Find something you are absolutely obsessed about and love. Because even if you don’t succeed, in monetary success, you will still have an amazing time. Here’s an example. Suppose you run a pet shop because you just love pets and the joy they bring to people's lives. Then, what if you go out of business in 10 years. You’ll never say, “I hated what I was doing.” Also, educate yourself in your industry and take affordable next steps. Don’t mortgage the house. Start and sell one, then go back and sell two." (Photo: Chris Clark/MLIVE.COM /Landov)