From our first great ideas to our innovative “inventions” at a young age, we have all thought at one time or another that we could make a living as a successful entrepreneur. For many, that dream fades as we grow and find other passions and vocations. However, there are still those who strive to offer the world their great ideas and innovative inventions.
While trying to make it as a successful entrepreneur is an uphill battle in most cases, it is not impossible. To prove it, Steve Adubato, PhD., sat down with Daymond John, entrepreneur, branding consultant, and co-author of The Power of Broke, to discuss John’s experience on ABC’s Shark Tank and the advice he has for up-and-coming entrepreneurs.
Swimming with Sharks
Shortly after its premiere on ABC in 2009, Shark Tank became a hit reality show around the country. The show features five panelists consisting of world-famous businessmen and women like John; who listen to pitches from aspiring entrepreneurs and inventors before deciding whether to invest in them or pass. The show features a variety of imaginative, resourceful and ingenious inventions designed by regular, everyday people.
During this episode of One-on-One with Steve Adubato, John explains that successful entrepreneurship is a mental game.
He told Adubato: “You need to be there mentally whether you have money or not. We all grew up on this concept that you need to have money to make money, you have to know somebody, and things of that nature… But this whole theory that you need money to make money is not true because over 60% of the wealthiest people in the world all are self-made men and women, [meaning] they were broke at one time.”
To hear Daymond John’s advice for entrepreneurs and the keys to dealing with rejection, check out this segment of One-on-One with Steve Adubato.
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Hero (Top) Feature Image: © One-on-One with Steve Adubato / SteveAdubato.org