493 - Daymond John: Why You Need to Keep a "Broke" Mindset in Business
The Marie Forleo Podcast
Marie Forleo
4.7 • 1.8K Ratings
🗓️ 2 June 2026
⏱️ 35 minutes
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Summary
What if having zero resources is actually your biggest competitive advantage? This week, we're revisiting Marie's conversation with Shark Tank star and FUBU founder Daymond John, who built a $6 billion brand from a $40 budget. He shares why desperation fuels innovation, why you shouldn't quit your day job too soon, and how keeping a "power of broke" mentality can make you a sharper, more creative entrepreneur - no matter what stage you're at.
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Transcript
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| 0:00.0 | Damon John is an entrepreneur in every sense of the word. He's the CEO and founder of Fubu, |
| 0:05.8 | a celebrated global lifestyle brand and a pioneer in the fashion industry with over six billion |
| 0:10.8 | in product sales. He's also one of the sharks on the Emmy Award-winning TV show, Shark Tank. |
| 0:16.3 | His ability to build successful brands has made him a highly influential consultant and |
| 0:20.9 | motivational speaker. |
| 0:22.5 | In 2015, he was named by President Obama as a presidential ambassador for global entrepreneurship. |
| 0:29.0 | He's also the author of the New York Times bestseller, The Power of Broke. |
| 0:33.6 | I want to start off with, in the power of broke, you share that desperation can breed innovation. |
| 0:39.0 | So I want to go back to the early days in Hollis-Queen's. |
| 0:42.6 | From when I was researching you even more, you didn't know that you had dyslexia in school. |
| 0:48.6 | There's a little bit of struggle there, right? |
| 0:50.0 | Yeah, I didn't know. |
| 0:51.0 | I had dyslexia until I was probably about 35, because, you know, when, you know, at that time |
| 0:59.0 | prior to that, your communication was generally through paper and a, you know, teacher marks |
| 1:04.0 | it up as a zero, right? |
| 1:05.0 | Yeah. |
| 1:06.0 | But when these things called two-way pagers came out and I started communicating with people externally, |
| 1:10.0 | and they started going, you okay? I didn't know what they were talking about. But emails and all that stuff, |
| 1:16.6 | we started communicating externally and then people started saying, why are things backwards? You |
| 1:19.9 | don't make any sense. And, you know, so that's how I started to really find out about it. |
| 1:23.6 | So back when you were still in high school and figuring out what you wanted to be when |
| 1:28.8 | you grew up, was fashion a long-held dream or was that another entrepreneurial idea? |
... |
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