Thursday, February 25, 2016

The Power of Broke: Your Greatest Competitive Edge


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Setting a goal, doing Homework, Adoring what you do, Remember you are the brand and Keep swimming. These are what Daymond John calls his Shark Points. These are Daymond's principles that are reoccurring throughout the book. He provides examples from the real world and his own business and in stories of other entrepreneurs who started with little and grew their business using the Power of Broke.

Daymond John started his company, FUBU in the early nineties with little money but he was hungry, metaphorically speaking for success. He knew he wanted to do something with this idea of his but with not many resources, he had to be creative and start his business only a  few dollars. He has grown FUBU into a huge company and now as one of the sharks on Shark Tank, he is taking what he has learned in the business world, and sharing it with everyone. Known as the People’s Shark, Daymond really wants to show that it is possible, you can become successful and do great things. The Power of Broke reads like an old friend who really cares about you is giving you the advice directly.
Power Facts, Shark Points, true life stories and personal advice is how Daymond shares that being broke can work to your advantage and help you succeed even more. He breaks down the principles of being successful and how you can start small, and grew your business into something big. The love of the business really shows through when Daymond is explaining how his ideas can help you reach your dreams. He wants you to be as successful as you can be.

One of my favorite stories in the book was about Mo’s Bows-how a little boy named Moziah (Mo) who loved to get dressed up for school, didn’t like his options for bow-ties. He enlisted his mom and grandmother to help him create his own unique bow-ties using some of his grandmothers scrap fabric. This kid had the vision, idea and ingenuity to enlist people who could help him. When Mo wore his bow-ties, they caused a lot of noise in his small hometown. When he started to make his own bow-ties then slowly but surely making custom orders for men of all ages. Mo’s Bows grew into something that they couldn’t believe and were elated to see it flourish. It all started with his idea, his vision and some help and it turned into a big company.  I loved that he dressed up for school but Mo got creative and asked his grandma for help and eventually teaching him how to sew. He not only learned about business but he learned a new skill too!

Setting goals and talking about them is another point Daymond talks about in The Power of Broke. “If people aren’t laughing at your dreams, then you’re not dreaming big enough” (p. 209) This is an inspiring quote that I wrote down and keep close. I think people are sometimes afraid to dream BIG and talking about your dreams is almost taboo. In order to keep your dreams alive, you have to talk about them and tell anyone you come across about your dreams.  Earlier in the year, I remember I started talking about a dream I would like to accomplish and I was super nervous to even say it out loud to myself; after I told my family who was very supportive about this goal; then I started to talk about it with co-workers and friends, I got some weird looks and a few people who tried to discredit my dreams. Even though,  people had their doubts,  I felt even more empowered to accomplish this dream.

Daymond provides great advice about loving what you are doing. I always feel that is so important- in order to succeed, you must love what you do, you absolutely have to love each and every part of your business, life, project etc. If you aren’t in love with what you are doing, then why are you doing it?

I absolutely loved this book, it gave me great advice; so much to think about and great heartwarming stories about how the power of broke influenced some many people with their crazy ideas. I would recommend this book for anyone who is thinking of starting a business,  anyone who owns a business and for Shark Tank fans. This book is filled with a lot of advice, ideas and inspiration. Check out The Power of Broke to see how your greatest competitive advantage can work for you!




Disclaimer: I received this book from the Blogging for Books program in exchange for this honest review.

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