The Power of Broke

What is broke? It’s having an empty wallet, nothing in the bank account. It’s having nothing. Yes, that is right, but broke is a lot more than that because broke is also a mindset. Broke is an attitude. Broke is a spirit.

Daymond John’s book, The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage takes you through a journey where you can see entrepreneurs that have been broke financially, spiritually, mentally and in most cases all of the above. But they have figured out how to take advantage of their situation, put in the work, efforts and smarts to succeed.Daymond John is the perfect person to write this book. He could have just used his owner personal story alone to teach us The Power of Broke. Daymond went from having nothing, to building his company, FUBU, into a six billion dollar brand and then on today to be a best selling author, fashion and business guru, motivational speaker and celebrity. Many will recognize Daymond from the ABC hit show, Shark Tank. But in addition to helping us learn from his story he uses many other stories of entrepreneurs to show us how they’ve done it too.

The Power of Broke shows us how often entrepreneurs become tremendously creative when they are in their deepest state of desperation. When their backs are up against the wall and there are seemingly no options left, they figure things out. Daymond shows that in many of these stories if it were not for the deep state of desperation with no options left, they probably would not have found the creativity to find the solutions they needed. In fact, if they were not in such a broken state, if they had the money to move forward they probably wouldn’t have seen the same success they have. They wouldn’t have made decisions in the same way. They wouldn’t have been forced to be creative.

The Power of Broke is a book that I’ll add to my suggested reading list. I enjoyed learning from the stories he shared and I found it to be a source of motivation and inspiration.

Entrepreneur Next Door

One of the reasons I loved The Power of Broke is that I love to hear the success stories of entrepreneurs. I love to hear the struggles they have overcome to succeed and in this book Daymond shares some great, motivating stories. If you love stories like these too, check out our podcast, Entrepreneur Next Door. At Entrepreneur Next Door we interview the everyday entrepreneurs and share their stories. Our hope is that our podcast will help promote the businesses of our guests but more importantly will also help to inspire and motivate our listeners when they hear these great stories. If you are like me and love to hear how other entrepreneurs have done it, check us out at Entrepreneur Next Door but also make sure to grab a copy of The Power of Broke and learn from the stories Daymond tells us about.

If you’re an entrepreneur that would like to apply to be on the Entrepreneur Next Door podcast, click HERE to submit your application!

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