Daymond John on Being a Business Shark in the Data Pool
Education and Careers They call him the “people’s shark” for good reason. Daymond John is only interested in seeing everyone grow and be successful in their business.
From his early years on, the “Shark Tank” star and CEO of FUBU knew he had the entrepreneurial mindset.
“When I was around the age of six or seven I sold pencils to kids in school,” he says. “I had hardworking parents and seeing them come home after a hard days work always inspired me to think in ways of doing something extra,”
“Social media gives you the opportunity to engage with the people, analyze the feedback of your product and strategically react in moving forward and growing with your product.”
Having a strong business mind is important, but technology is what helps those ideas become reality. “Technology has developed and changed drastically since I started. The advent of smart phones and social media gives you the ability to target people and know exactly who is buying your product,” says John. “Social media especially gives you the opportunity to engage with the people, analyze the feedback of your product and strategically react in moving forward and growing with your product.”
Disrupting the cycle
Technology also has changed the face of success, making it easier for small business owners to be self-sufficient. “You get a very accurate feedback on the product in real time now that the power has gone back to the people,” explains John.
“For example, in the past we used to rely on banks to process information but now there are tools like Square and PayPal to make that easier and instantly accessible. You can get a quicker gauge on where you should or should not go with your business with the help of technology.”
“One of the most important aspects to success for an entrepreneur is having a mentor,” says John. “President Obama’s initiative, My Brother’s Keeper, has an objective to change the thought from ‘cradle to correction’ to ‘cradle to knowledge’. We are trying to break the cycle and help young men in America by giving them the tools and knowledge necessary to have a successful role in their community. It’s important to me that I do my part in making this a reality.”