职场创业

    今日:54| 主题:45127
收藏本版
IT、互联网、电子商务创业经验、建议、管理等知识分享。

[其他] Shark Daymond John Shares 5 Keys to Business Success

[复制链接]

立即注册CoLaBug.com会员,免费获得投稿人的专业资料,享用更多功能,玩转个人品牌!

您需要 登录 才可以下载或查看,没有帐号?立即注册

x
When it comes to building a successful business (and an inspiring personal brand), there are few case studies as enlightening as the story of Daymond John , entrepreneur, investor, author, motivational speaker and television personality on the ABC reality television series  Shark Tank  .
  Not only has John done what every aspiring entrepreneur hopes to someday accomplish; he has also become a leader in sharing his business acumen.
  I recently sat down with John to talk about what it takes to build a successful business and the things he looks for prior to investing in a company.
  1. The person behind the company drives its success.

  John pays close attention to the person leading the charge, not just the company itself. “Before I lend credibility towards other brands and labels, I consider the person running the company -- how that person is going to operate that company,” John said.
  He also asks how long the person is going to operate the company. He examines whether they have a strong passion for the company and the idea, or if they are just trying to follow a trend.
   “I test theirresourcefulness, and whether they have a history in that area of business. I like to know whether they have failed enough to have learned what works and what doesn’t,” John explained.
  It is often said that the person behind the company is a much larger indication of potential success than even the company itself. After all, the best ideas can be ruined by the wrong founder. The opposite is also true: a great founder can make the most of a simple idea or offering.
  If you want to build a successful business, focus on investing in yourself just as much as in your company. You are, after all, a vital asset.
   Related:  10 Bad Habits You Must Eliminate From Your Daily Routine
  2. Understand where your business is in its life cycle.

   In our interview, John reflected on past experiences with FUBU (of which he is the CEO), and how at certain points the company needed to understand how topivot.
  For example, a few years ago, FUBU’s growth was slowing further than what was considered normal for a fashion brand around the 5-year mark.
  After some market research, the FUBU team realized that what people were talking about on social media concerning the brand had to do with three things: rumors that the company had been sold, negative feedback on current products and the assumption that FUBU only made “baggy jeans.”
  As John pointed out, it is important to understand where FUBU was at the time and the need to address those concerns. “This was much more important than throwing more and more advertising money behind the brand,” John said.
  “We could’ve gone on with the advertising: ‘Buy FUBU today; buy FUBU today because of this,’ but we had to address those things first and say, ‘Number one, we don’t make only baggy jeans.’” By understanding this point in the life cycle, FUBU was able to pivot effectively.
  When it comes to starting, growing or pivoting your business, remember the importance of getting clear on where you are in the life cycle. What stage is your business at, and what does it most need right now?
   Related:  The 15 Most Profitable Small-Business Industries
  3. Always look at the numbers.

  If the numbers don’t make sense, nothing else matters. The best branding in the world can’t fix a broken company.
   “It’s much better to be doing 1 million dollars of business and be positive half a million than to be doing 10 million dollars of business but negative 2 million dollars every year,” John said. “Some people mistake size forsuccess, and that’s simply not the case.”
  According to John, another pitfall aspiring entrepreneurs encounter is thinking too much about scaling before they even discover what is profitable. They focus on user acquisition, awareness or even branding and perception, instead of asking the tough question: “How is this going to make money?”
   Related:  6 Habits That Turn Dreams Into Reality
  4. Be resourceful.

   One of the examples that John used from his latest book,  The Power of Broke  , was of a kid with an audience of 100,000 fans on Instagram. Every Monday, he paints a unique shirt design that is only available for sale for the next 24 hours.
  “On Tuesday, he goes to the local printer, copies all the shirts that have been ordered, and Wednesday, Thursday, Friday mails them out,” John said.
  He repeats this the next Monday. According to John, he is set to earn about $1.2 million this year.
  This is a perfect example of how being resourceful can lead to some of the best ideas and the greatest success: Use your gifts and talents, build your audience and deliver something of value.
   Related:  How I Decreased My Weekly Office Hours From 40-plus to Less Than 8
  5. Use the power of branding.

   Arguably the most important piece of advice John shares has to do withbranding, since he himself is a branding guru.
  When it comes to branding, John constantly reinforces the importance of being honest. “If you put up a front that you are all about changing the world, when all you really want to do is make money, then eventually that will come out,” John said. “People will see it, and no longer want to support you.”
   He is a firm believer in staying true to yourself . Be honest and genuine with your pursuits and goals. As he shared, there is something to be said for “faking it until you make it.” This phrase really just means being proud of yourself for what you are doing long before you see any tangible success. But that is very different from pretending to be something you’re not.
   Branding yourself and your company is part of standing out, and is vital to the success of any business venture. But if you do so in a way that doesn’t really align with yourgoals or mission, then you are destined forfailure.
  Be honest from the start.
          Deep Patel

                                                           Deep Patel is a young writer and entrepreneur. He is the author of A Paperboy's Fable: The 11 Principles of Success. In the book, he interviewed 15 industry luminaries including professors, entrepreneurs, CEO’s and Gene...
     Read more
友荐云推荐




上一篇:Dubsmash syncs €9 million Series B
下一篇:要培养优秀员工,领导者应该和员工谈什么?
酷辣虫提示酷辣虫禁止发表任何与中华人民共和国法律有抵触的内容!所有内容由用户发布,并不代表酷辣虫的观点,酷辣虫无法对用户发布内容真实性提供任何的保证,请自行验证并承担风险与后果。如您有版权、违规等问题,请通过"联系我们"或"违规举报"告知我们处理。

桃酥 发表于 昨天 22:34
楼上长在线啊?
回复 支持 反对

使用道具 举报

*滑动验证:
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

我要投稿

推荐阅读

扫码访问 @iTTTTT瑞翔 的微博
回页顶回复上一篇下一篇回列表手机版
手机版/CoLaBug.com ( 粤ICP备05003221号 | 文网文[2010]257号 )|网站地图 酷辣虫

© 2001-2016 Comsenz Inc. Design: Dean. DiscuzFans.

返回顶部 返回列表