Commonly known as "the FUBU guy," Daymond John is the mastermind behind the multi-billion dollar clothing line, FUBU ("For Us By Us"). Most recently, Daymond is featured as a shark on the ABC reality show, Shark Tank, on which entrepreneurs pitch their ideas to a panel of critical investors, or 'sharks.'
Although originally acquiring his fame and success in the fashion industry, Daymond's latest venture is in the business consulting world, sharing his business acumen with other corporations, serving as an industry speaker, and publishing two business books geared toward aspiring and seasoned entrepreneurs. In this interview with David Garland, Daymond shares his insight about what separates successful entrepreneurs from unsuccessful ones.
5 Marketing Lessons Inspired by Daymond John
1. Be unique. As an investor on Shark Tank, Daymond has seen his share of boring, run-of-the-mill ideas. He emphasizes the importance of a product and brand that is different and unique . Otherwise, is will never stand out from the competition. As a marketer, it's important to market your products and services in a way that separates them from your competitors'.
2. Be passionate. One of Daymond's favorite things about being a shark on the show is witnessing the excitement and passion of the entrepreneurs who are pitching him. Daymond also stresses the importance of the likability factor. Similar to the way he is more likely to invest in an entrepreneur that he likes, consumers are more likely to purchase from brands they like.
3. Be real. The most recognizable personality-driven brands like P. Diddy and the Kardashians are successful because they're so believable. For example, P. Diddy was a fashionable, party guy before he ever launched his own clothing line and brand of alcohol. Daymond stresses the power of believable branding. As a marketer, your company culture and brand should align with the products and services you sell.
4. Be authentic and transparent. To Daymond, authenticity and transparency is even more critical for brands today because of the popularity and use of social media. Lies and deceit don't have a very long shelf life in social media, and leaving transparency and authenticity at the door will only hurt your company's image.
5. Be a thought leader. Daymond has the right attitude when it comes to marketing his new consulting business: be a thought leader. In addition to his content contributions as a speaker and an author, Daymond is also an active user of Twitter and recognizes the flaw in using it solely as a tool for personal promotion. As any smart marketer should do, Daymond uses his Twitter presence not just to promote his business, but also to be informative, funny, listen to and ask questions of his followers, and retweet other users' content he thinks will help his followers improve their businesses and brands.
What other lessons can you learn from the "Rise to the Top" interview with Daymond John?