Elite Daily recently had the privilege of sitting down with renowned entrepreneur and TV personality Daymond John at Trattoria Il Mulino in New York City. The Queens, New York, native and founder and CEO of the iconic clothing brand FUBU, told us his definition of being an entrepreneur, and what success means to him.
According to John, "success is waking up every single day and doing what you want to do until you go to sleep." But just because you are doing what you love, there's no guarantee of being successful.
John attributes many entrepreneurs' failure to over-funding, explaining that if you don't have experience and don't understand the operation of a business, over-funding can push you to move too fast too soon. John started out with only $800 dollars worth of inventory in hats.
He also attributes his success to his ability to know everything about his customer. From what clothes they wear, to what they drive, to what they drink, John makes sure he is always up to date with his customer base. As you listen to his passion and knowledge of business and entrepreneurship, it's impossible not to be inspired. John doesn't want to leave his kids an inheritance, he wants to leave them a legacy.
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