Daymond John Tells 57-Year-Old Entrepreneurs to Build Businesses on Passion, Not Money
Updated
Updated · Fox News · Jul 26
Daymond John Tells 57-Year-Old Entrepreneurs to Build Businesses on Passion, Not Money
1 articles · Updated · Fox News · Jul 26
Summary
Daymond John said at Fanatics Fest that entrepreneurs should start businesses around something they love and would "do for free," warning that chasing money alone will leave them "screwed."
The 57-year-old "Shark Tank" investor framed that advice as practical, saying founders sell best when they would buy the product themselves and arguing that almost any business can work if the owner genuinely cares about it.
FUBU, which John co-founded in 1992 with three childhood friends, began with him sewing hats and T-shirts in his mother's Queens house before growing into a global fashion brand.
John said FUBU was driven by frustration that brands like Timberland were not making clothes for African Americans, alongside his own love of fashion and music.
Since joining "Shark Tank" in 2009, John has said he backs the person before the idea, a philosophy that matches his latest emphasis on commitment and trust over quick profit.