Book: The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage by Daymond John. Rating: ⭐️⭐️⭐️.

An ordinary book. 3 stars are good enough.

The whole book discusses how to do business when you have no money. Daymond is the man behind Fubu and a TV show called Shark Tank. His story is really interesting to follow because he raised his entire business out of nothing, following the power of broke principle.

Throughout the book, he shows similar stories to show the power of broke in action. It’s a good principle but nothing extraordinary. If you need motivation or are using excuses because “you don’t have enough money” this book may be good for you.

Here are my notes for this book:

  • When you got nothing to lose, you got everything to gain
  • Innovation goes bottom up, not top down
  • Use your disruptive technology
  • Fail is important. Try and fail as soon as possible. Learn from it and keep going.
  • At social networks, you have to be consistent.
  • If you don’t have the opportunity, build one. (Skateboard competition entrance)
  • When you’re broke, you have to make smart decisions, or it will cost your whole business
  • Position yourself for winning. Try to be in the right place, talking to the right people.
  • Think like your client. Michael Jackson used a crappy radio to hear his songs because this is how people listen to it
  • You don’t have to know everything to start a business. Just know how to get the missing parts ant and move along.
  • Rules 1. Use the best resources available to you
  • Rule 2. Keep it real. Put authenticity in everything you do.
  • Rule 3. Optimize. Time is precious
  • Rule 4. Solve people’s problems and be rewarded.
  • Rule 5. Put your passion on everything you do.
  • Rule 6. Appreciate everyone you meet on your path
  • Rule 7. Think beyond. Use data to support you