The Power Of Broke - Daymond John

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Read this book if you want to start a business venture but do not have a lot of capital. Daymond argues that you do not need money to make money. That in fact, sometimes the lack of money can serve as your competitive advantage. Because when you are broke, and do not have money to throw at your problems, you find creative ways to get things done. Your passion for your product becomes your fuel. Your determination and ingenuity become your selling points. You stay hungry! People see that, and people buy into that.




1.Be Genuine; Be authentic. Be real. Stay true to who you are. Let your product/brand be something you believe in. You will attract the right crowd, the right clan of people who will connect with what you stand for. What you are looking for are people who can build an emotional connection with your product.

2.Proof of Concept; To clearly illustrate this point, Daymond uses an analogy of lottery winners and professional football players who lose all their money or go bankrupt after a few years. Failure and bankruptcy are what happen when you have capital but have no idea what you are doing. Test your market. Do your research. Stay knowledgeable about what you are doing.

3. The most powerful lesson I learned from this book is from Daymond’s interview with Mark Burnett, Mark Burnett immigrated to America and started out as a live-in nanny, but is now the producer of mega-hit shows like the apprentice, survivor, and shark tank. Mark said, “my pain was the fear of regret so I didn’t care if things worked out. I only cared that I took the action and tried”.

We are all selling one commodity, TIME! Make yours the most valuable.

Grab a copy of this book here!

By Izzy Afriyie