Daymond John of ‘Shark Tank’ Offers Straightforward Business Advice
During an interaction at Fanatics Fest, Daymond John shared pivotal insights into achieving business success. The 57-year-old entrepreneur emphasized the importance of passion in business ventures, advising that one should build a business around something genuinely loved.
If you’re starting something that you love, you have to want to do it for free. I always say to kids, you know, you got to get paid for what you’d do for free,
John stated, suggesting that passion translates into efforts that don’t solely focus on monetary gain. He illustrated his point with various examples, including his counterpart, Kevin O’Leary, who enjoys managing complex structures not for money, but for the intellectual challenge.
John’s entrepreneurial spirit ignited at a young age. Before co-founding FUBU in 1992 with his childhood friends, John was already exploring various business opportunities.
Creating FUBU: A Blend of Passion for Fashion and Music
FUBU, now a global fashion brand, started humbly in John’s mother’s house in Queens, New York. John began by sewing wool hats and T-shirts. He was inspired by a gap in the market, as many brands at the time did not cater to African Americans. As he told The Source Magazine, I was frustrated by Timberland, and a couple of other people and brands that ‘didn’t make clothes for African Americans.’
John’s love for fashion and music further motivated his innovative approach.
Reflecting on the time, John remarked that hip-hop was both young and vibrant, contributing to the excitement of seeing artists and others wear his creations.
From Startup to ‘Shark Tank’
In 2009, John joined the original cast of ‘Shark Tank,’ partnering with notable investors like Barbara Corcoran and Robert Herjavec. Throughout his time on the show, John has supported numerous businesses, such as Bombas and Bubba’s-Q Boneless Ribs, exemplifying his knack for identifying promising ventures.
Discussing his investment strategy with Inc., John highlighted the importance of investing in people rather than just ideas. He explained, I always look for the person first — before the idea,
reaffirming his belief in the value of trustworthy entrepreneurs.
Fanatics Fest: A Celebration of Passion
Fanatics Fest, an interactive sports festival reminiscent of Comic-Con, served as a venue where John could express his enthusiasm as a fan. Despite not having explored much of the festival, John was eager to enjoy the diverse experiences, ranging from WWE to UFC events.