New Book from Daymond John Shares How Being Broke Can Be Greatest Advantage

New Book from Daymond John Shares How Being Broke Can Be Greatest Advantage

“You have to have money to make money.”

Everyone’s heard the saying and many an entrepreneur has let that saying guide their work – the scramble to get funding and the feeling that you can’t really get your ideas off the ground until you raise $X for a proper launch.

But what if money wasn’t as important as you thought? What if being broke could actually be your greatest competitive advantage?

That’s the message in a new book from Daymond John, The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage. The book will be released on January 19, 2016, and it is a must-read for all smart hustlers who want inspiration and empowerment for their own journey to success.

Harnessing the Power of Broke

The Power of Broke is based on Daymond John’s own experience. Yes, that’s right – the founder of the $6 billion FUBU brand and the investor you see doling out money on Shark Tank came from rather humble beginnings. His brand started on the streets of Queens, where he sold clothing that he sewed at home. As demand for his clothes grew, he and his mother even had to take a $100,000 mortgage out on their house in order to purchase supplies to meet demand.

From his experience, Daymond John learned that not having a lot of money can actually be your asset, as long as you know how to harness the power of broke. Without much money backing up your endeavors, you have to rely on your other skills and resources – and it is those things that can push you to success:

  • Thinking more creatively about how you will establish and grow your business.
  • Relying on determination and your own hard work.
  • Getting help, not from other people’s money, but from their marketing, mind power and manpower.
  • Marketing your company imaginatively and authentically to create true connections with your customers.
  • Focusing on your goals and using innovative solutions to reach them.

The book details Daymond’s own experiences as he harnessed the power of broke to find success. It also includes dozens of stories of other entrepreneurs who have leveraged the power of broke in creative ways, such as 11 year old Mo Bridges who created his own clothing line, Mo’s Bows, starting with nothing but his grandmother’s sewing machine, and Gigi Butler who went from cleaning lady to owner of the cupcake empire Gigi’s Cupcakes.

The Power of Broke provides inspiration and empowerment for all smart hustlers who are short on money but big on ideas and determination. You can learn more about the book and order your copy here.