Daymond John comes to UT

Daymond John, CEO and founder of the 90’s era FUBU brand and an investor on ABC’S reality television series Shark Tank, spoke to University of Toledo students and community members yesterday, Oct. 18, at the Nitschke Auditorium as part of the Jesup Scott Honors College Distinguished Lecture Series.

As an American entrepreneur, marketing maven and multi-million-dollar mogul, John succeeded not because of a college degree, but with a persistent drive and the achievement of his goals. Despite the fact that he did not receive a college diploma, he stresses the importance of education and how it is the key to success.

He says students who receive a college degree have the advantage over those who do not because of the principles they learn in an academic setting.

“They understand and at least the fundamentals of business that other people will not get from being able to study it,” John said. “But most of all, you look at 70 percent of my staff that started off as interns, and you can’t become an intern unless you go to college.”

With the collaboration of a degree and goal setting, success is achieved by the person who nurtures it.

“Goal setting is probably one of the main reasons why people stay on course or are successful,” John said. “I would call it goal setting instead of a plan because sometimes you have the overall goal in your mind. The plan is going to change, so put the goal, the overall picture in your mind and try to manifest that and then create the plan. Understand plans are going to change.”

When John created FUBU (“For Us By Us”) in 1992, his plan to provide customers with popular apparel was at the forefront.

The heavy influence that birthed this urban brand was due the hip-hop influence that circled his community. A tie-top hat appeared in a music video that sparked his interest, but the high price deterred him from purchasing it, so John began sewing hats for himself and his friends. When the demand increased, his order did as well; he then sold them in Queens making $800 in just a few hours.

The biggest drive during this era was the passion he had for his brand, and he encourages others to have the same feelings about their career journey.

“Being extremely passionate about what you’re doing and do something that you would do for free, for the rest of your life if you could,” John said. “Do something you’re passionate about and something you love. If you’re trying to do something to grow or enhance your life, you have to do something you’re passionate about.”

Now, several years later, John is an investor on ABC’s hit reality television show, Shark Tank.

He says in order to run a business one must understand the analysis and key ingredients of the development behind it.

“No matter what, understand having financial intelligence is the most important aspect of running a business or personal life besides, obviously, your health,” John said.

Craig Turner, business career advisor at UT, said listening to a man with so much experience will be beneficial to students’ journeys.

“He’s speaking from experience, so for business students who are aspiring to start their own business or whatever they would like to be, I think the key to that is listening to the voice of wisdom,” Turner said. “Don’t be afraid to make mistakes; I’m sure everything that he did was not successful, but he did get back up and continue to progress.”