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. HAPPY CHILDREN=QUALITY PARENTING. We don't always see eye to eye on everything and that's normal. We're human beings. But we come together and do it right for what's important, the kids. We are not enemies, we are parents. And we are parents 1st. S/O to @monyettashaw for making Mason's bday memorable. S/O to @itscrystalsmith at home taking care of our other lil' Prince. ❤️❤️❤️ THIS IS WHAT CO-PARENTING LOOKS LIKE. #Blessed #Happy #AboveTheDrama #BiggerThanUs
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3. So happy to finally be able to share with you all that I’m the new Global Brand Ambassador for @Revlon! Follow my day on RevlonSnaps. Yay! Choose Love, Everybody! #RevlonXCiara #chooselove #ad
7. Today was not easy..but by the grace of God we all got through it. Words cannot express our gratitude for all of your Prayers, Positive thoughts and Support for us throughout the years. Tommy will be missed but most certainly never forgotten...And PLEASE don't ask "Where's Martin?.." he was there too...just not in this picture. Lol! God bless you all.. #LoveConquersAll #MartinShow
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9. West coast get ready for #RockyHorror. I will be live tweeting again. #letsdothetimewarpagain
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10. #THEKEYS pre order yours now ... Available everywhere #NOV22 #WeTheBest 🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑
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11. We about to ROCK at #KCABlackBall!! All for our life-changing effort to end 🌎 AIDS.
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12. Today's #SNAPJACK is brought to you by @yazzthegreatest 😂😂😂💋💋💋
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13. Damn girl you kinda old to be headed to the Go Go. You coming in at the age they leaving. LMAO
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14. Daddy daycare B-Boxin with @acewellstucker @shopraisingace
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15. #FBF Naviyd & URV "LIL MONSTERS"
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16. HAPPY BIRTHDAY TO ONE OF THE BIGGEST LEGENDS IN OUR HIPHOP HISTORY! @snoopdogg CONTINUED BLESSING AND LOVE FAMILY!!!!! REAL OG!
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17. Thank you for a beautiful night VSU! Let's do it again! #HOMECOMING
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18. Had a great time this morning with my familia Erica, Griff & Truth!!
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19. Check out my interview on @essence facebook live. #inmyownwords #nycpromo #day2
22. Why me and @coryhardrict got the same pose... and notee... new mouth #naked
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23. When my husband is my personal 'hype-man'! it kills me every time! 💜😂 #WHATNOW #lostfiles📷
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24. Diggy Simmons
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25. Hand full of @jacquieaiche 💙💎💍 @esnail_la 💅🏾
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26. SuperSoulers! You can watch my interview with Carl Lentz live from my Facebook page, tomorrow at 11a ET| 8a PT. #SuperSoulSunday
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27. 💋 .. When the friendship is easy like Sunday morning. ☀️
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28. Sunday mornings are the best........... hugs and cuddles with my angel
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29. #huggar16 #hellohuggars
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30. My gym is everywhere!.. #RnBMoney #TheGeneral 📸: @twelvepastseven
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31. Nothing I would rather be doing... Rocko setting up our movie, Romelō working on a puzzle & Laiyah singing and sharing all she's learning at school... I'm so grateful for the joy they've brought into my life ... Praying for peace , joy & love in the home of EVERY family ♥️ #HeadScarfPJSunday LOL 😂
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Continue reading 4 Tips For Entrepreneurs From A Homeless Man Turned Billionaire