“…[B]roke only breaks you if you let it.”
Daymond John, founder of FUBU and affectionately known as “the People’s Shark” for his role on the ABC hit Shark Tank, is the epitome of an entrepreneur with grit, hustle, and determination. But, his book The Power of Broke is less of a how-to strategy guide, and more of a motivational telling of stories of successful entrepreneurs he believes embody and harness the power of broke.
Daymond is likeable, but to appreciate this book you have to understand the posture from which he writes and the audience with whom he most resonates. Daymond is from Queens, grew up during the swell of East Coast hip hop, and found his stride providing apparel that resonated with the hip hop culture in the 1990s. His perspective is different from most people building multi-billion dollar business at that time. So he can bring a unique voice to an audience many other people simply aren’t talking to. Because of this, The Power of Broke is a very casual read, doesn’t use a lot of business jargon, and focuses on motivating people who come from backgrounds where resources and mindsets may be limited. This is not a strategy guide for an MBA student or entrepreneurial hopefully who is looking for specific steps to building a business with limited resources. It’s really an anthem for not letting your present circumstances dictate future potential.
That said, it was a tough read for me and I struggled to finish it. The book doesn’t flow at times and seems to jump around from thought to thought. It’s hard to stay with the theme or identify top level strategies to work from until the last chapter. The chapters are short and each features stories from people like Gigi of Gigi’s cupcakes, Moziah from MO’s Bows, and Kevin Plank the founder of Under Armour. You don’t get much detail about their stories, just some reflection, quotes, and a “zero (which isn’t usually actually zero) to millions” story. Frankly, I think the book may have been better with the last chapter as the first.
If you’re looking for a high-level business read, this isn’t it. If you’re looking for a detailed memoir of how Daymond got to where he is, this isn’t it. But if you’re looking for brief, surface-skimming, motivational stories about people who made it big from a place of broke (which is arguable because many of these people had something to work with), then perhaps this book is for you.
I received a complimentary copy of this book from the publisher in exchange for my honest review. I wasn’t required to post a positive review.
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