Daymond John's advice for digging your business out of tough times? Focus on what you can control and always do the best you can for your customer.
John knows that entrepreneurship takes a lot of hard work: John founded clothing brand FUBU in 1992, but kept a job at Red Lobster for five years and also rented out rooms in his house until his company was on a clear path to success. He's since launched several other businesses, built a TV career as one of the original "Sharks" on ABC's Shark Tank, and written five books. His latest, Powershift: Transform Any Situation, Close Any Deal, and Achieve Any Outcome, was released in March. John spoke with Inc. Editor-in-Chief Scott Omelianuk for Inc.'s latest "Real Talk: Business Reboot" streaming event on Tuesday.
Watch the clips below for John's thoughts on the current economic and social crises and his advice to leaders who want to be at the forefront during times of change.
On why "financial intelligence" is crucial, especially if you want to start a business:
On a Shark Tank investment that proved him wrong about what customers want:
On what he learned from a $6 million mistake:
On seeking out new ways to stay open during a crisis:
On the value of collaboration:
On why he plays "Robin" to his staff's "Batman":
On feeling a calling to tell the truth about entrepreneurship:
On why you shouldn't drop everything to pursue your business idea:
On his predictions for the coming year:
On getting back to the core of your business: