The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become

 

The New York Times bestseller from Shark Tank star and Fubu founder Daymond John on why starting a business on a shoestring budget can be an entrepreneur's greatest competitive advantage. Daymond John has wielded the power of bankruptcy since he began selling his homemade t-shirts on the streets of Queens. With a budget of $40, Daymond needed to come up with innovative strategies to promote its products. Luckily, desperation breeds innovation, so he came up with an idea for a creative a campaign that eventually propelled the FUBU brand into a $6 billion global phenomenon. But it might not have happened if I hadn't started broke, with anything but hope and a passionate drive to succeed by any means necessary. Here, the FUBU founder and star of ABC's Shark Tank shows that far from being a liability, bankruptcy can be your biggest competitive advantage as an entrepreneur. Why? Because starting a business after bankruptcy forces you to think more creatively. This forces you to use your resources more efficiently. It forces you to connect more authentically with your customers and to market your ideas more imaginatively. It forces you to stay true to yourself, stay focused on your goals, and find the innovative solutions it takes to make a meaningful mark. Drawing from his own experiences as an entrepreneur and brand consultant, a behind-the-scenes look at the set of Shark Tank, and the stories of dozens of other entrepreneurs who have rushed their way to riches, John shows how we can all harness the power of bankruptcy to have phenomenal success. You'll meet Steve Aoki, the electronic dance music (EDM) disc jockey who turned a string of $100 gigs into a global superstar who redefined the music industry; Gigi Butler, a lady from Nashville, a maid who built a cupcake empire based on a family recipe, her maxed-out credit cards, and a big dose of faith. and her unique tailoring style. When your back is against the wall, your bank account is empty, and creativity and passion are the only resources you can afford, success is your only option. Here's how you can use the power of bankruptcy to scrape, rush, and dream your way to the top.