Book of the Week: The Power of Broke
Published by Smart Office
Author(s): Daymond John
Publisher: Crown Currency, 2016
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Why We Love It:
The Power of Broke is not, at its heart, a book about Daymond John – it is a book about the lessons he’s learned from the many entrepreneurs he’s spoken to, worked with, and invested in. Daymond John uses anecdotes to encourage the reader to embrace uncertainty.
In an age of increasing career uncertainty, more and more people are finding themselves at loose ends after downsizing and layoffs, wondering whether to re-enter the “rat race” or strike out on their own with limited resources. One of the key takeaways from this book is that “broke” is not just a statement on someone’s financial status. If you feel you’re “too broke” to change your career or start a new business, the real pain may not be your bank balance; the true roadblock may be a lack of knowledge, experience, resources, or network support.
Reframing the “broke” mentality about than just funding can help hesitant entrepreneurs assess their true challenges and tackle opportunities for growth. But above all, the author encourages users to leverage their greatest differentiator to carve their niche by creating a personal brand built on honesty, kindness, integrity, resilience, and empathy.
Favorite Quotes:
“It’s gotten to where an entire nation can be energized by the force of a single idea put out into the world in a passionate way through social media—at little or no cost.” – Daymond John
“Told myself it didn’t matter if my ride didn’t turn heads—it only mattered that it turned things around for me.” – Daymond John
“A fool can learn from his own mistakes, but a wise man learns from the mistakes of others.” – Daymond John
Book Jacket Summary:
Drawing his own experiences as an entrepreneur and branding consultant, peeks behind-the scenes from the set of Shark Tank, and stories of dozens of other entrepreneurs who have hustled their way to wealth, John shows how we can all leverage the power of broke to phenomenal success. You’ll meet:
- Steve Aoki, the electronic dance music (EDM) deejay who managed to parlay a series of $100 gigs into becoming a global superstar who has redefined the music industry
- Gigi Butler, a cleaning lady from Nashville who built cupcake empire on the back of a family recipe, her maxed out credit cards, and a heaping dose of faith
- 11-year old Shark Tank guest Mo Bridges who stitched together a winning clothing line with just his grandma’s sewing machine, a stash of loose fabric, and his unique sartorial flair
When your back is up against the wall, your bank account is empty, and creativity and passion are the only resources you can afford, success is your only option. Here you’ll learn how to tap into that Power of Broke to scrape, hustle, and dream your way to the top.
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