Many entrepreneurs fund their passions, products and ideas for self-made businesses on a wing and a prayer. Though lack of funds may cause many to avoid stepping out on their own to succeed as an entrepreneur, there are several stories of those who overcame the odds to build multi-billion dollar products and brands.
As shared on Forbes.com, John Paul Dejoria, co-founder of Paul Mitchell and Patron Spirits, was once homeless and living out of his car before pooling together $700 to start Paul Mitchell. Based upon his experiences from being homeless to now being a billionaire, he offers the following four secrets for entrepreneurs to build world class brands from the ground up.
1. Create the best product you can and know it’s the best product.
“Believe in yourself and know you have a great service and a great product that will put you in the reorder business… You’re never selling–you’re trying to get it into someone’s hands, whether it’s a service or a product–knowing it’s so darn good they’ll want to order it again or tell a friend about it.”
2. Stick to your vision and be ready for rejection.
“You’re going to run across a lot of rejection. Be prepared for the rejection. No matter how bad it is don’t let it overcome you and influence you—keep on going towards what you want to do–no matter what… You need to be as enthusiastic about door number one-hundred as door number one.”
3. Win over your early customers again and again.
“Once [a customer] says yes, you have to put your personality into it. Go by and thank them, make sure it’s going well…You must pay attention to your first customers—real attention, because it’s easier to keep somebody than to get somebody new. And those people you give the extra attention to will be your best sources for recommendations because they’ll like you and tell someone else.”
4. Hire one employee for multiple roles—it makes the company more flexible, efficient and lean.
“If you are hiring people, give them two or three jobs, and pay them a little more. If things get tough, you’ll never have to lay them off.”
2. "You on point Phife?" "all the time,Tip". 💥 #bannedfromnormal
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3. Vegan! The Impossible burger at Crossroads
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4. Lawrence #BeforeandAfterEpisodes 1-4: 184lbs 13% body fatEpisode 8: 196lbs 8% body fat S/O @coachdaveboxing with the works outs and @kildareriordan with the nutrition
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5. Jus haaaanngin out
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6. Meanwhile back at home in Atlanta GA someone mad they not on the 🛳. 😳
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7. No limits... Photo cred: Chris Bridges @ludacris
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8. new new
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9. Apparently my 260lbs is too much for the actual vines in the Hawaiian jungles to hold me without breaking and me falling hundreds of feet. So for safety purposes, I'm forced to swing thru #Jumanjj on wires strong enough to hold 12 adult buffaloes and 1 adult Rock. #OnSet #Jumanji #IronicallyIEatBuffaloDailyForLunch #MoreManThanNatureKnowsWhatToDoWith
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10. hey ma! 🎎#wcw 💙
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11. Surprise visit to our factories!!! #GoodAmerican #USA
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13. Peachy Keen 🔥✨⚡️
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14. If this don't look thankful I don't know what does. Happy Thanksgiving to you and yours. #UltraBlessed #24kMagic #SweetPotatoFly
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15. Late nights @nbcmarlon with the writers... we in here!!!
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16. There goes my baaaaaaaaabbbbyyyyy #QueenKingMagic!!! We're up to something! Ira BIG!!! Stay out our buisness -
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17. You want to win every game you play but when you come home to these faces... who cares. #ILoveYouGirls best part of my day, everyday!
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18. Steady,steady..... full size jenga.. "I got this one "???? Or do I ?
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19. Cornrows kind of day 😉@dontaysavoy2 you convinced me and I love. ❤️️
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20. #BrotherlyLove #tbt
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22. #basel #TeamLOVE @kingcombs
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23. Just introduced a special screening of @directher 's groundbreaking (must see) documentary @13thfilm with my brother @themichaelealy | @unitedblackout #blackoutblackfriday
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24. Me & Vanessa Williams giving #DuckLips #Pose on the set of #DaytimeDivas @vh1 - Coming Soon to a tv near you. Lol. - My make up done by @makeupsurgeon
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25. This picture just makes me wanna praise the Lord, you hear me!!!!!! Yes Lord brotha #TEDDYCAMPBELL What a #man !!! You are everything right on this picture husband ......... #gorgeous #stylish #classy #strong #masculine #king #sexy #debonair #gentlemenstyle And that #bible in your hand just seals the deal for me (probably cause i know that, that is what helped you become just as amazing as you look😘). While my heart and mind experiences the goodness of God at #church on Sundays, my eyes experiences the goodness of Teddy😍. Amen somebody🙌🏽. "Bless the Lord oh my soul and all that is within me bless his holy name" #myman #myhusband #goodman #blackman #dapperman #godlyman #goodfather #mybestfriend
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26. Yesterday was my mama's 53rd birthday!!!!! Got to celebrate with her all day. If this is what I have to look forward to I can't wait. Looking like a soft bucket a cocoa butter. Yaaaaaaaaaas! 😍😍😍 love you mommy!
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27. "Shout out to @PureAtlanta for getting the family right"....I'm loving this jogger. 😍😍
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28. This pic warms my heart ❤️ #myLogiebeans and aunt aunt umba @itowandabraxton 😘
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29. You will always be my baby😜. #HappyBirthdayReginae #mybaby18
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30. GC "Gods Child" Red on Red SweatSuit available now at www.MonicaApparel.com ... Take Your Crown wherever you go!! I'm pictured in a Medium... Go to the site now for other options ... cc: @trukernell
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Continue reading 4 Tips For Entrepreneurs From A Homeless Man Turned Billionaire