The entrepreneurs on the TV show “Shark Tank” don’t invest in companies, they invest in people, says Daymond John, founder of the Fubu clothing line and cast member of “Shark Tank.”
While consumers’ purchasing habits have changed, he says, especially in the retail clothing industry, John’s approach to sales hasn’t changed: Talk directly to your customer, let them tell you what they want to see, and upsell them.
John offers five “shark points” for success in business and in life:
1. Set a goal. This puts your success on “auto pilot,” he says.
“You become what you think 90% of the time,” John says. “My goal was, no matter what, to live, prosper, and die in the world of hip hop.”
2. Do your homework. Know your business and what it will take to succeed.
Part of that is knowing “you’ll never create anything new in this world,” John says. “A ‘Snuggy’ is still a blanket with two holes in it. It’s all about coming up with new ways to deliver to your audience.”
3. Amore. Love what you’re doing.
4. Remember: You, personally, are the brand.
This is more important now than ever, John says, “because we’re all looking at people through the phone. Master your pitch—life is a series of pitches. And know something about the people you’re pitching.”
5. Keep swimming. Take care of yourself physically, John says, noting that early detection of a cancerous nodule on his thyroid gland saved his live.
“Think about why you want to be here; why you want to stick around,” he says. “Like a shark, when you stop swimming, you die.”
John addressed immersion18 by Trellance in Fort Lauderdale, Fla.