Ever wish you could get in the mind of a successful entrepreneur and find out how they think? You can with Daymond John, Founder of FUBU and judge of ABC's Shark Tank. Daymond isn't your usual successful entrepreneur. His rags-to-riches story is only part of what makes him unique -- what makes him different is how he helps other entrepreneurs become successful.
For the past six years, my company has spent a lot of time with Daymond -- backstage, at his cool offices in NYC and he's also been to our offices to coach our team. He's got a remarkable sense of people, of business and what it takes to hustle (he affectionately calls it, "Grind!" and starts every morning with "Rise and Grind!").
Normally, I stay off social media, I usually make an exception for Daymond's Twitter account. If you're an aspiring entrepreneur, a successful business owner, or trying to do a better job at work, here is your inside look into the mind of someone who runs the business world and five pieces of advice he's tweeted to his followers:
1. Don't answer emails for the first hour of your day.
When you answer emails, Daymond says you're working on other people's problems, not yours. Prioritize your own problems first; then work on solving other people's problems.
2. Great ideas are not enough.
Having a great idea is only half of an entrepreneur's success formula. Great ideas without action are like a destination without a map: no one's going anywhere. If you want to be successful as an entrepreneur, you need to take action. Moreover, you need to learn how to execute that idea.
A great idea is not enough. Take action before someone else does. pic.twitter.com/yVccY1FEpq-- Daymond John's Success Formula (@DJSuccess_) July 24, 2019
3. It's not enough to fail fast.
Silicon Valley entrepreneurs love to talk about failing fast--that failure is the key to your success. Daymond shows it's not just about trying and failing: learning is the essential ingredient. Treat your great ideas like experiments. Try, fail, analyze, adjust, and repeat until you are invited to be an investor on Shark Tank.
Which approach are you taking? pic.twitter.com/GMTp3G5ajS-- Daymond John (@TheSharkDaymond) July 30, 2019
4. You don't need lots of your own money to succeed.
Many people have great ideas but never try them because they say they don't have enough money. You don't need a lot of money to be successful. Daymond started FUBU with $40. Sara Blakely started Spanx with $5,000. What you need to be successful is confidence in your idea--and to borrow other people's money. You don't succeed by having enough of your own money to fund an idea. You succeed because you convince other people to give you money.
5. Great entrepreneurs focus on giving not having.
Success isn't about taking. It's not about having either. Success is about giving. You give people what they want to solve their problems. You give people advice, help, and solutions. The more you focus on giving to others, the more successful you will be. Daymond exemplifies this with his twitter feed, giving out advice to help other entrepreneurs grow.
It's not about what you HAVE, it's about what you can GIVE. pic.twitter.com/zQKL9vWozN-- Daymond John (@TheSharkDaymond) July 29, 2019
So if you need a successful entrepreneur to mentor you and no one's signing up, check out Daymond John's account. His daily advice and insight will set you on the path to success.