Shark Tank star offers his five tips for success in business and life during rousing HDAW keynote address

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Updated Feb 1, 2020
Daymond John presenting at Heavy Duty Aftermarket Week (HDAW) in Grapevine, Texas.Daymond John presenting at Heavy Duty Aftermarket Week (HDAW) in Grapevine, Texas.

Renowned entrepreneur and star of ABC’s “Shark Tank,” Daymond John offered his five “Shark Point” tips to business success Tuesday as the keynote speaker at Heavy Duty Aftermarket Week (HDAW) in Grapevine, Texas.

John says his business career began at an early age and was rooted to his interests and local environment. Growing up in Queens, N.Y., in the 1980s, John became enamored with the burgeoning hip hop music scene in the area and saw apparel and merchandising as a way to ingratiate himself within the industry.

He founded his clothing brand FUBU (For Us, By Us) out of a makeshift factory in his mother’s home in the early 1990s and began selling his products at concerts and performances in the area. John used his contacts within the growing hip hop industry to begin outfitting performers at shows — such as local acquaintance LL Cool J — to market his clothing, and a few years later parlayed an advertisement soliciting investors in the New York Times into a production deal with Samsung Textiles.

Tasked with selling $5 million in merchandise in three years to keep the Samsung partnership, John says his company surpassed $30 million in sales in the first six months, turning FUBU into a global phenomenon and household brand.

Since achieving his dreams, John says he’s identified five key factors that he believes are essential for entrepreneurs hungry for business success. Called his Shark Points, John describes his keys to success as follows:

Set a goal: John says he knew from a young age he wanted to be an involved part of the hip hop community. He also knew he couldn’t rap or sing, which forced him to creatively look for other avenues to enter that world.

Do your Homework: John says a few years before creating FUBU a rumor circulated that an executive at Timberland had been quoted as saying the company did not want to sell its boots to drug dealers. The story angered and offended many consumers who were not engaging in illegal behavior but were interested in the company’s apparel. John says the For Us, By Us name came in response to that — clothes for the hip hop music community created by someone in love with that same community.

Amor: To be successful in business, John says one has to love what they are doing. But they also have to remember why they are doing what they are doing, and that there parts of life that are more important than business. He says he learned that first-hand when his intense focus on growing his business led to the dissolution of his first marriage.

Remember: John says an entrepreneur can never forget they are their own brand — both from a corporate and personal perspective. John’s name will always be synonymous with FUBU and Shark Tank, but he hopes it also remains synonymous with his character traits of honesty, charity and perseverance.

Keep swimming: Never give up and never abandon your dreams, John says. Building a business from the ground up is an extremely challenging task, no matter the industry. John says entrepreneurs must be willing to learn from mistakes, adapt and evolve to succeed when times are tough.

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