Book review

Page 1
INTROUCTION
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Course Book Title:The Power Of Broke

Publication Name: Random House

Year of Publication: Latest edition (21 March 2016)

Page 2
PREFACE
Daymond Garfield John[2] (born c. 1968/1969)[3] is an American businessman,
investor, television personality, author, and motivational speaker. He is best known as the
founder, president, and CEO of FUBU, and appears as an investor on the ABC reality
television series Shark Tank.[4]
He is based in New York City.
john has published three books: Display of Power, The Brand Within, and The Power of

Broke. Display of Power is an autobiography that details John's life and early business

career. The Power of Broke is a motivational business book that features stories from 15

entrepreneurs, including Steve Aoki, Rob Dyrdek, Kevin Plank, and Loren

Ridinger.[38][39]Released in January 2016, it appeared on the WSJ[40] and

NYTimes[41] bestseller lists, and received an NAACP Image Award for Outstanding

Instructional Literary Work.[42] John grew up in the Queens neighborhood of Hollis.[5] An only

child, John was raised by his mother and grandfather.[citation needed] Early jobs included handing

out flyers and waiting tables at Red Lobster.[6] He attended Bayside High School.[7] In high

school, he participated in a program that allowed him to work a full-time job and attend

school on an alternating weekly basis, which he credits with instilling an entrepreneurial

spirit.[8] After graduating high school, he started a commuter van service.[5] Daymond John is

CEO and Founder of FUBU, a much-celebrated global lifestyle brand, with over $6 billion in

sales. He is also one of the country's most visible and respected entrepreneurs as one of the

stars of ABC series Shark Tank, and the recipient of over 35 awards including the Brandweek

Marketer of the Year and Ernst & Young’s New York Entrepreneur of the Year Award. John

stands on that same cutting edge as one of corporate America's leading branding consultants

as CEO of the marketing firm Shark Branding. He is also an author of two best-selling

books, Display of Power and The Brand Within.

page3
SUMMARY
The Power of Broke

· Summary written by: Justin Gasbarre

“The choice of whether to succeed – or not – is all mine.”

- The Power of Broke, page 5

Daymond John, the founder and CEO of FUBU and star of ABC’s
Shark Tank, shares with us his own life and business experiences
in his book The Power of Broke. “The People’s Shark”, as he is
often referred to as, shows us how to leverage the “power of
broke” mindset, which led him to be one of the most successful
entrepreneurs and business influencers of his day.

Throughout this book, the author interviews 14 other successful

people (who come from all different fields) to learn how they’ve
leveraged the power of broke throughout their lives. Among
others, Daymond interviews Steve Aoki, Rob Dyrdek, Jay
Abraham, Tim Ferriss, and Mark Burnett.

Each interview covers its own unique topic but each is an

important ingredient of success. This book is an easy and
engaging read. I’ll bet if you’ve ever seen an episode ofShark
Tank with Daymond, it won’t feel like you’re reading, it will feel
like he is talking directly to you. You will walk away with some
simple principles that will help you to maximize your current
position and go after the things you want most in life.

The Golden Egg - The Power of Broke

"THE POWER OF BROKE is a mindset. It exists in all of us,
whether we have money, opportunities, or advantages."- The
Power of Broke, page 1

The author starts us off by explaining what exactly the Power of

Broke mindset is and how he developed it throughout his
childhood and early adult years. At a high-level “the power of
broke is all about taking that shot”. No matter what your situation
is, you dig down deep to pursue what it is you want out of your
life, because when you operate out of that mindset, you have
everything to gain. As Daymond puts it, “Sometimes it takes
having your back against the wall, leveraging your last dollar, and
having no place to go but up, up, up if you expect something to
happen”.

So often, when we try to improve, we work to build or add skills

to our repertoire. Skills are certainly necessary to success, but
what I love about the book is that the author always brings us back
to this mindset of the power of broke. Everything starts and is
built upward from there.
Gem #1 - Sharpen Your SHARK Points
"The idea is to get audiences to start thinking like a shark, the
same way we do on the show as panelist-investors."- The
Power of Broke, page 20

As we move from the power of broke mindset, the author then

shares with us his action planning process to get your dreams
started and off the ground – he calls them his “SHARK
Points”. “SHARK Points” are the principles he shares with the
many businesses and students he works with.

They are simple, tangible, and easy to follow. Here they are at a
high-level:

 Set A Goal
 Homework, Do Yours
 Adore What You Do
 Remember, You Are The Brand
 Keep Swimming

These five steps provide for you a framework to follow as you

begin any business or personal journey

Gem #2 - The Power of Humility

"If you’re nice to people, if you go out of your way to be
helpful, then good things tend to happen."- The Power of
Broke, page 163

The author has a great interview/discussion with Tim Ferriss, best-

selling author, podcaster, and investor that I found powerful.
During the interview Daymond talks with Tim about what it took
to get his first book The 4-Hour Workweek published. It was not
an easy process and after much rejection and adversity, Tim
attended a trade show where he was hoping to connect with a
popular blogger that may be able to help him out. As Tim was
checking in, he struck up a friendly, innocent conversation with
the lady that was checking him in who was coincidently married
to the blogger who Tim was hoping to meet. From there, the rest
was history, The 4-Hour Workweek has been on the best sellers
list ever since!

Now, Tim didn’t know the lady was the bloggers wife, but it’s
amazing what being friendly and nice can do for you and your
career!

“Well, the bottom-line message beneath each mega-success

story is that broke only breaks you if you let it.”

Through the shared experiences of Daymond John and the 14

amazing people he interviewed, The Power of Broke shows us
that no matter who we are, what we do or where we start, we’re all
capable of achieving great wealth and success if we have the right
mindset and execute the right plan. I am a big Shark Tank fan and
through the show I feel like I know Daymond. The book helped
me better understand how one can start from humble beginnings
and really change the world.

PAGE 4
Why have you choosen this book?
I have choosen this book because All the shark points at the end of
the each chapters are fantastic. The way Daymond asks us a question after each shark point is
absolutely necessary and that questions itself makes you think about answer.

I would strongly suggest this book to all wanna-be businessmen, Entrepreneurs, Start-up
enthusiast.
This book will definitely help you on how to achieve success when you have no money, no
connections . This book gives enough examples that there is always a way where there seem to
be no way.
I am very much impressed with each and every chapter in this book.

A must read for business people.

Page 5
Message learned from the book.

Daymond John has been practicing the power of broke ever since he started selling his
home-sewn t-shirts on the streets of Queens. With a $40 budget, Daymond had to
strategize out-of-the-box ways to promote his products. Luckily, desperation breeds
innovation, and so he hatched an idea for a creative campaign that eventually launched the
FUBU brand into a $6 billion dollar global phenomenon. But it might not have happened if
he hadn’t started out broke - with nothing but hope and a ferocious drive to succeed by any
means possible.

Here, the FUBU founder and star of ABC’s Shark Tank shows that, far from being a liability,
broke can actually be your greatest competitive advantage as an entrepreneur. Why?
Because starting a business from broke forces you to think more creatively. It forces you to
use your resources more efficiently. It forces you to connect with your customers more
authentically, and market your ideas more imaginatively. It forces you to be true to yourself,
stay laser focused on your goals, and come up with those innovative solutions required to
make a meaningful mark.

Drawing his own experiences as an entrepreneur and branding consultant, peeks behind-
the scenes from the set of Shark Tank, and stories of dozens of other entrepreneurs who
have hustled their way to wealth, John shows how we can all leverage the power of broke to
phenomenal success. You’ll meet:

· Steve Aoki, the electronic dance music (EDM) deejay who managed to parlay a series of
$100 gigs into becoming a global superstar who has redefined the music industry
· Gigi Butler, a cleaning lady from Nashville who built cupcake empire on the back of a
family recipe, her maxed out credit cards, and a heaping dose of faith
· 11-year old Shark Tank guest Mo Bridges who stitched together a winning clothing line
with just his grandma’s sewing machine, a stash of loose fabric, and his unique sartorial flair

When your back is up 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 you’ll learn
how to tap into that Power of Broke to scrape, hustle, and dream your way to the top.

Thank you !!!!!