Wellness Blog

3 Lessons from The Power of Broke

Posted by BGF FitnessSite on June 29, 2017 at 9:35 AM

3 Lessons From Daymond John’s Power of Broke

I recently joined Blogging for Books - a website that provides review copies to bloggers, retailers, librarians, and media outlets in exchange for an honest review. If you have an active blog, and you’re an avid reader, this is a great way to snag new books at no monetary cost to you. It’s a wonderful program with a wide selection of books.

That being said, I’ve just finished The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage. The book wasn’t quite what I had expected. Perhaps I was looking for a more abstract, law of attraction type of read, but Daymond took a different approach. Instead of spending time on the more abstract principles of money, success, and energy, he opted to SHOW readers that it’s possible to navigate to and through success regardless of your circumstances.

Daymond introduces his SHARK Points and then uses his own story and the stories of entrepreneurs like Steve Aoki, Tim Ferriss, Ryan Deiss, Josh Peck, and Loren Ridinger to illustrate these basic principles put into action. This book is worth the read for all entrepreneurs, but don’t go into it expecting the “woo stuff” There’s very little woo. The Power of Broke is about taking calculated steps towards clear goals.

The overall message is that folks have a competitive advantage in being “broke” because they bring an unparalleled kind of spirit and soul to their business.

3 Lessons From Daymond John’s Power of Broke

1. Where there’s a will, there’s a way. Each entrepreneur Daymond highlights in this book overcame failures, economic challenges, and other obstacles in the best way they could. Ultimately, all of them found success and the main point is that none of them gave up when they found their back against the wall.

“Make the probability of your success a natural part of your thinking. Expect it… will it so. Why? Because good things come to those who expect them… Learn from the stories I’ve shared with you, and model your approach after these successful individuals. Each and every one of them had a low point, and yet each and every one of them found a way to pick themselves up and move on. Know that you can too. Know that you must.”

2. Write your goals down – bonus to visualize them. In the last few years, I’ve witnessed the power of writing goals in my personal life, but it was quite interesting to see this concept repeated in yet another book about obtaining success. To this day, Daymond writes his goals and spends time visualizing them daily.

“According to a Harvard Business School Study, 83 percent of the population does not take time to set professional goals; 14 percent have goals in mind, but they don’t write them down; 3 percent set down their goals on paper and commit to them… Right away you can see that if you simply make a record of your goals, you’ll be ahead of the game. But get this – the 14 percent with goals in mind are ten times more successful than those with no goals at all, while the 3 percent who write down their goals are three times more successful than the one with unwritten goals… What’s the takeaway? … It’s a no-brainer – write down those goals, people.”

3. Move from desperation to inspiration. Whether these entrepreneurs had only $33 in the bank with rent and bills due or owed $250,000 in back taxes to the IRS due to horrible accounting, they appeared to operate from a place of inspiration rather than desperation. People feel when you’re in business for the money versus being in it for the passion, the inspiration, the service, etc. This takes calling on one of Daymond’s SHARK points – ADORE WHAT YOU DO. If you’re not sold on your product or service, if you don’t believe in yourself, then it will be reflected in your business and in the people you draw towards your business.

Click here to grab a copy of The Power of Broke on Amazon.

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Categories: Fitness + Motivational

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