22 Minutes With Daymond John

Brigitte Quinn
April 19, 2018 - 4:02 pm

In this installment of “22 Minutes,” 1010 WINS anchor Brigitte Quinn sits down with entrepreneur Daymond John.

John opened up about his humble beginnings, becoming the founder of FUBU, his book, “The Power of Broke” and his role in the Emmy winning series, “Shark Tank.” The best-selling author and motivational seeker has come a long way from his $40 budget by growing FUBU into a $6 billion brand.

BQ: You say in this book that if you hadn’t started out broke, you wouldn’t be the success you are today. How does that work?

DJ: We all have this concept that you need money to make money, or be famous, or have someone in your family that’s famous. I really didn’t have anything to rely on and that made me hungrier. That allowed me to bring in people around me that believed in what I was doing instead of paying them to tell me “yes.”

BQ: You also had to be creative, that’s one of the key ingredients of success. 

DJ: You know, when you don’t have resources around you readily available you have to find a way to accomplish that goal you need to get to. Instead of going and buying a bunch of advertising space on buses and billboards, I went and spray-painted a bunch of gates that were brought down in front of stores. It cost me about $100 to spray paint each gate. I spray painted about 3,000 of them with the FUBU logo. It equated to about $3 million in advertising, and it cost me $3,000.

BQ: I’ve heard you mention “financial intelligence,” explain what that means.

DJ: Money is just a tool and you have to know how to use it. I didn’t have that knowledge for many years, it was after I failed. When I got to a point where I had millions of dollars to spend, I spent it. I made the biggest mistakes. It’s to understand the tool of money, how to use it.

BQ: Tell us how FUBU started. You saw some hats and thought, “I could do that.”

DJ: I did the actual sewing, because my mother exercised the power of broke. She taught me how to sew. I stood right out there on 165th Street, it was Good Friday 1989, and I sold about $800 worth of hats. And that’s when the light went on. I made these with my own hands, no one was telling me I had to stay out here for two hours or 20 hours,  I’m empowering myself and I’m selling them directly to people. That’s when I realized, I have the power to empower myself.

Watch the full interview above.

About Daymond John:

An entrepreneur in every sense of the word, Daymond John has come a long way from his $40 budget by growing FUBU into a six billion dollar brand. The Founder of FUBU, Presidential Ambassador of Global Entrepreneurship and Co-star of ABC’s Shark Tank, is a celebrated pioneer in the fashion industry, best-selling author, branding guru and highly sought after motivational speaker.

John will be doing a book signing in New Jersey on Saturday, Feb. 27 at Books & Greetings in Northvale.