If you don’t know who Daymond John is at this point in your 20-something-year-old life… you should.
He’s the Founder and CEO of the fashion line FUBU (For Us By Us) and TV Personality on ABC’s Hit Reality-Business show Shark Tank Fridays at 9 pm.
Daymond came from nothing, and built a multi million-dollar fashion empire for the urban market right from his mom’s basement. President Obama has even said Daymond is one of the greatest entrepreneurs of all time. Not too shabby of a compliment, I’d say.
Daymond spoke in front of a full house Tuesday night at Penn State about his 5 simple, yet extremely effective Shark Points that everyone should follow on the road to being successful.
1: Set A Goal
You can’t hit a target that you cannot see. Always set a clear, positive goal that you will be highly motivated to achieve no matter what.
2: Homework – Do It
You HAVE to do your homework. Analyze and understand the market and where you’re going, this way you will always be one step ahead. Always remember, there are rarely new products, there are just new forms of delivery.
3: Amor: Love What You Do
Money is only a tool; it is a great slave, but a horrible master. To really enjoy life to the fullest, nothing means anything without love. If along the way you get lost or wrapped up in the wrong things, go back to the basics and start again. “Every person that is successful has one thing in common, they are doing what they love,” said Daymond.
4: Remember, You Are The Brand
Daymond learned on Shark Tank that we do not invest in companies, we invest in people. Always think to yourself: Are you in control of who you are? Can you put yourself or your brand into 2-5 words? It is more important now than ever before to have something that easily resonates. For example, Nike’s “Just Do It”. Also be aware of social media. What you put out there is permanent, it isn’t going anywhere.
5: Keep Swimming
The end of every race is the beginning of a new. If something doesn’t work out and you hit obstacles, don’t sweat it. There will always be something better that comes along. Sharks have to swim to stay alive; you just have to keep swimming and never give up.
If you or someone you know at Penn State has a million-dollar idea, The Nittany Consulting Group and the SPDC can help you by offering free business consulting in Kunkle Lounge every Tuesday and Thursday from 4-5 pm. You never know, you could be the next Daymond John!
Follow Daymond on Twitter @thesharkdaymond