The Power of Broke
How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage
By Daymond John
About the book
Daymond John, founder of FUBU and a star of Shark Tank, holds that starting out broke can be an entrepreneur's greatest competitive advantage rather than a liability. He started out with a $40 budget, selling home-sewn products in Queens, and a creative campaign he devised later helped turn FUBU into a $6 billion global brand. Lack of money, he says, forces founders to think more creatively, use resources efficiently, connect with customers more authentically, market ideas with more imagination and stay focused. John draws on his work as an entrepreneur and branding consultant, scenes behind the cameras of Shark Tank, and the stories of many other founders, including DJ Steve Aoki. It became a New York Times best seller.
Web Profits co-founder Sujan Patel chose it for his seven books every entrepreneur should read, arguing that bootstrapping can be a viable and lasting way to grow a business.
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This book has 1 recommendation
Sujan Patel (Co-Founder/Web Profits)
The Power of Broke is for anyone looking to crush those excuses for whatever is holding him or her back from success. Bootstrapping your way to success can be a viable and sustainable way to grow your empire. Author (and Shark Tank entreprepreneur) Daymond John built his own fashion label starting with home-sewn clothes and almost no money; he turned around his "broke" status with pure innovation. The book also explores how other everyday people took a similar approach. One entrepreneur, for instance, started a million-dollar cupcake business with the $33 balance in her checking account.
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