{"id":41631,"date":"2019-02-22T19:46:41","date_gmt":"2019-02-22T19:46:41","guid":{"rendered":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/uncategorized\/2019\/02\/22\/shark-tanks-daymond-john-has-5-tips-for-vet-entrepreneurs\/"},"modified":"2026-08-08T03:32:20","modified_gmt":"2026-08-08T03:32:20","slug":"shark-tanks-daymond-john-has-5-tips-for-vet-entrepreneurs","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/veterans\/2019\/02\/22\/shark-tanks-daymond-john-has-5-tips-for-vet-entrepreneurs\/","title":{"rendered":"Shark Tank\u2019s Daymond John has 5 tips for vet entrepreneurs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Daymond John knows a thing or two about running a successful business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before he became known as the \u201cPeople\u2019s Shark\u201d on ABC\u2019s hit reality series, \u201c<a href=\"https:\/\/rebootcamp.militarytimes.com\/2016\/02\/26\/advice-from-shark-tank-veterans-to-newest-winners-don-t-rest-now\/\" target=_blank>Shark Tank<\/a>,\u201d John turned a bag of hats and an idea into the multi-million dollar apparel company FUBU. And since then, he\u2019s mentored many an entrepreneur seeking to do the same thing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One particular soft spot for the shark? Former service members, he told Military Times.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI\u2019m constantly working with veterans as much as I can,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently, John is in his third year working with Bob Evans Farms to promote veteran entrepreneurship through the company\u2019s Heroes to CEOs program.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now through March 20, veterans can enter the group\u2019s <a href=\"https:\/\/www.bobevansgrocery.com\/our-story\/our-farm-salutes\/\" target=_blank>latest contest<\/a> for the chance to pitch their ideas to investors and win a $30,000 grant for their business. The finalists will receive a free trip to New York City for a personalized, 45-minute session with John to help them perfect their pitch.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We asked John for some of the tips he gives to finalists and other entrepreneurs he\u2019s worked with, including on the show. Here\u2019s what he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b>1. Do everything with the \u201c<\/b><a href=\"https:\/\/daymondjohn.com\/pages\/power-of-broke\" target=_blank><b>power of broke<\/b><\/a><b>.\u201d<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAct like you have no money when you start the business,\u201d John said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Go out there and get mentors, marketers and a team \u2014 or an \u201cArmy,\u201d if you will \u2014 of people who are going to be your ambassadors and help you grow, he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This mindset is highlighted in John\u2019s book, \u201cThe Power of Broke: How Empty Pockets, a Tight Budget and a Hunger for Success Can Become Your Greatest Competitive Advantage.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He writes in the book, \u201cTake it from me, the power of broke is all about substance over flash. It\u2019s about creativity over certainty. It\u2019s about taking a shot over playing safe.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The good news for vets? Many already have this type of built-in, \u201cget-it-done mentality\u201d from their time in the military, John said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b>2. Know your numbers.<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At some point, your efforts do have to turn into dollar signs in order for your business to be successful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a business owner, know your sales, your targets, etc. and be prepared to talk numbers \u2014 especially before you head into the Shark Tank, lest you become prey.<\/p>\n\n\n\n<iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/9zbxMZ5f7co\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\"><b>3. Do something you\u2019re super passionate about.<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">John said a lot of the veterans he meets have turned to entrepreneurship because they see a need in the market that they want to fill.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThey\u2019re already starting a business because they want to solve and help,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And while that\u2019s a noble pursuit, you\u2019re not guaranteed to be successful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf you\u2019re going to take this journey, I can\u2019t say that you\u2019re going to win,\u201d John said. \u201cI can\u2019t say that you\u2019re going to make a gazillion dollars.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So choose a path you\u2019re not going to regret, even if it doesn\u2019t end up working out.<\/p>\n\n\n<aside class=\"smg-interstitial-link smg-interstitial-link--fallback wp-block-smg-interstitial-link\"><a href=\"https:\/\/rebootcamp.militarytimes.com\/2016\/02\/26\/advice-from-shark-tank-veterans-to-newest-winners-don-t-rest-now\/\" class=\"smg-interstitial-link__fallback-link\">Advice from &#039;Shark Tank&#039; veterans to newest winners: Don&#039;t rest now<\/a><\/aside>\n\n\n<p class=\"wp-block-paragraph\"><b>4. Get ready to get knocked down.<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You will get knocked down as an entrepreneurs \u2014 not just once, but a million times, John said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But if you take his previous advice to heart by knowing your numbers and loving what you do, it won\u2019t be as bad, he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s the ones who just keep getting back up who end up thriving in business,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b>5. Enlist the help of other vets. <\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Good things happen when veterans band together and start helping each other \u2014 so tap into that. Plenty of veterans would be willing and able to help you succeed over the challenge at hand, John said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before he became known as the \u201cPeople\u2019s Shark\u201d on ABC\u2019s hit reality series, \u201cShark Tank,\u201d Daymond John turned a bag of hats and an idea into the multi-million dollar apparel company FUBU. And since then, he\u2019s mentored many an entrepreneur seeking to do the same thing.<\/p>\n","protected":false},"author":7,"featured_media":84374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":19,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[101,25,19],"tags":[],"coauthors":[3382],"class_list":["post-41631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news-roundup","category-newsletters","category-veterans"],"acf":{"subheadline":"","legacy_arc_id":"KTTA5KDUHZBMLKMKCONUJV6MZQ","arc_canonical_url":"\/veterans\/2019\/02\/22\/shark-tanks-daymond-john-has-5-tips-for-vet-entrepreneurs\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shark Tank\u2019s Daymond John has 5 tips for vet entrepreneurs - Marine Corps Times<\/title>\n<meta name=\"description\" content=\"Before he became known as the \u201cPeople\u2019s Shark\u201d on ABC\u2019s hit reality series, \u201cShark Tank,\u201d Daymond John turned a bag of hats and an idea into the multi-million dollar apparel company FUBU. 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