“The Power of Broke” Quotes The easiest thing to sell is truth. Like this summary? We’d Like to invite you to download our free 12 min app, for more amazing summaries and audiobooks. Phases Your Brand Needs to Go Through Before It Can Go Global Instead, use it to pay off your debts, so interest rates do not “eat you up.”ĭo not let yourself go under because of debt, as many companies do. Act like it.ĭo not be scared of debts, since debts are not that easy to avoid.īut, when you do turn a profit, resist the urge to put it back in your business.
Know where you are going: define your goal. Phases Your Brand Needs to Go Through Before It Can Go Global The Plan to Success What you need to do is decide how much you are willing to pay. Yet, many companies use other people’s money to conduct business.Īnd yes, we agree that the thought of finding an investor might sound appealing, but be careful that you do not risk losing control of your company. Remember that your goal is not pleasing everyone, but making yourself happy. There will be people who will not recognize your vision, and not believe in you, but you have to stay true to yourself and persist. We cannot all be equal but do not be disappointed if you have not been born with certain advantages that other people have.Įven if you have to work harder to get to the top, it will pay off, since when you have nothing to lose, you can only go up. So, yes, being hungry can push you to focus on progress and growth, while at the same time helping you stay realistic and observant of what is within your reach. In fact, when an idea takes off, it is not because of the money that founded it, but because of people’s enthusiastic responses to it. Innovation and ideas stream from a singular vision that moves from the bottom up and are not connected to money. We know it may sound illogical, but, when people face a limitation, such as shortness on resources, they are pushed to become more creative and imaginative, thinking of ideas which they would otherwise never come up with. These stories are truly motivating and inspiring in the first moment, but then they are easily considered as something that has happened due to chance, and to only a “happy few.”Įven if that is the case, it is still true that being broke holds an immense power, which can help us achieve greatness. 
We all love those rags-to-riches stories about a now-wealthy entrepreneur who started from the bottom.
ĭaniel Paisner is a writer and a prolific collaborator in the publishing world. About Daymond John & Daniel Paisnerĭaymond John is an investor, the founder of FUBU, entrepreneur, and one of the panelists on ABC’s Shark Tank. “The Power of Broke” shows you how you can learn some lessons by being broke, and use them to pave the way to your success. 3 min read ⌚ How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage
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