black people and money

Fubu CEO Explains How He Built a Billion Dollar Business in His Living Room

Fubu CEO Explains How He Built a Billion Dollar Business in His Living Room

by Dr. Boyce Watkins

Daymond John is the president and CEO of FUBU.  He also stars on the reality TV show, “Shark Tank,” as one of the investors who reviews prospective ideas.

In this video, Daymond explains to Katie Couric how he created a billion dollar business from his living room.  He talks about how he started with almost nothing, pulling together fashion ideas that would give him an opportunity to make some extra money.  After getting LL Cool J to wear his product, his sales eventually took off.

I know both Daymond and LL, but not very well.  LL and I had a couple of off-the-record conversations about personal matters, and I know Daymond’s business manager, Champ Nichols.  One of the things that I noticed about each of these men is that they contain one of the key ingredients necessary to succeed as an entrepreneur:  Energetic hustle.

These men have had long and sturdy careers largely because they are committed to seeking out every opening, and turning over every stone to boldly go where opportunities exist.  I speculate that this spirit comes from surviving on the competitive streets of New York city, where resources are scarce and no one is going to feel sorry for you if you can’t feed your kids.

Aspiring entrepreneurs can learn from watching this video and realizing that entrepreneurship is a game of survivalist self-sufficiency. You have to find ways to do a  lot of things on your own, be willing to endure some discomfort and never stop believing that you can find a way to make a way.  You don’t need someone else to come through and save you.  It’s all about maintaining the right attitude.

Watch the video and enjoy it.  I certainly did.

black people and money

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