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Founder, President and CEO of FUBU and star of ABC’s Shark Tank Daymond John reveals his biggest success stories in his new book The Power of Broke.


He talks to the Tom Joyner Morning Show about viable money tips and what entrepreneurs really need to know about going into business for themselves.

“You can’t buy your way into things the way people think. The number one reasons why startups fail is over spending. All of a sudden after the money is gone, the friends are gone and the money is gone and you’re out of business.”

What should a person do that wants to become an entrepreneur?

“Take half of the savings and get a financial adviser. Then get some digital literacy and get a local business mentor. Then get a another job.

Click the link above to hear the entire interview.

Making History: Top 10 Richest Black Actors
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(Photo Source: Courtesy/ABC)

2 thoughts on “Daymond John Urges Entrepreneurs Not To Go Into The Restaurant Business, Talks Success Stories In ‘The Power Of Broke’

  1. Alberta on said:

    Mrs. Camille Cosby getting paid all day regardless… I think some of those women were Ho’s with intentions of getting something others were real victims. None of them had any business being alone with Mr. Cosby in a hotel or any place that wasn’t his office w/ a secretary. Lol

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