#Book Review: The Power of Broke

I decided this year, that I am going to read more and spend less time watching TV and surfing the internet. I have read seven books as of the end of July. My favorite of the seven is The Power of Broke by Daymond John. I have started several entrepreneurial endeavors with very little capital available; so my reading list is mostly books that talk about starting a business on a shoestring budget and utilizing every dollar wisely. In The Power of Broke Daymond tells his story of starting FUBU with friends on a shoe string budget and turning into a multi-million dollar enterprise. He interviews fourteen other rags to riches entrepreneurs who started their business with nothing and turned them into successful businesses; from cupcakes to sporting goods like Under Armour. You will learn about different paths taken to success in different industries by people who made it.

I realized that  when you are starting from the bottom with nothing to lose there is no where to go but up. If everything is riding on success you learn how to stretch every dollar of the little capital your business has. One of the businesses he talks about involves an entrepreneur who started a t-shirt business on Instagram. This one hit close to home because one of my business ideas involves selling custom t-shirts via websites like Teespring and Merch by Amazon.

There are several lessons you will gleam from the book:

  1. Set a Goal with realistic targets
  2. Homework, Do you homework.
  3. Adore what you do
  4. Remember you are the brand
  5. Keep swimming

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