Things didn’t always come easily for Daymond John, the man who created the fashion brand FUBU in his living room and has become one of the savvy investors on the ABC show Shark Tank.
Even since he achieved fame and fortune in the fashion world and while hanging out with celebrities including Michael Jackson, Muhammad Ali and Prince, John has struggled to keep moving forward, going through a divorce several years ago and battling cancer early this year.
So even though “keep swimming” is last among the five SHARK Points he shared with 200 integrators, manufacturers and end users at the AVIXA AV Executive Conference last week in Key Biscayne, Fla.
It’s that attitude that’s kept him going and it’s the approach business owners need to move forward when challenges arise.
“Your industry is growing, but disruption is coming,” says John, who downplayed the idea of focusing solely on making all the money you can. “Money just drives you up to your problems in a brand-new Bugatti.”
Daymond John’s SHARK Points at AV Executive Conference
John kicked off his SHARK Points advising the audience to Set a Goal.
That goal “creates who you are,” says John, and helps to keep you focused when your approach is on the verge of going off-track in turbulent times.
Homework is the next SHARK Point. John emphasized being prepared can help simplify your execution and improve effectiveness.
“We overthink things,” says John. “Nothing we create today is truly new. At the same time, you never want to be ‘me too.’ You want to be in the front of the industry.”
Amor, or love, is another driver that is critical to business success. Without a passion for what you’re doing, you’ll quickly lose focus and the drive that’s needed to make you successful.
“I know you know how it feels when you’re changing lives and seeing inspiration,” says John.
Rounding out the SHARK Points is ‘Remember You Are the Brand.’ In other words, says John, everything you do or don’t do reflects on your business, so it’s important to make sure you’re always focused on advancing that company in your words, thoughts and actions.
“Can you put yourself in two to five words? What about for your employees?” asks Daymond John. “We’re pitching all the time but we always have to ask what’s in it for the person we’re pitching.”