The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage

My 22 yr old son made poor choices and is serving time in jail for a year or 2 while his friends and sister are off enjoying college. He asked for books that would teach him how to succeed when he is out and will gave a label making it hard from him to work with the exception of owning his own business. He LOVED this book and finished it in 2 days. With limited time to read each day. He’s motivated and making plans. Thank you for writing this book!

Such an amazing book with great content that can be applied to any circumstance. Your true power is coming up with an idea, finding out how to make an attempt while looking for the big lesson in the success or failure and then trying again. An "overnight success" is definitely not made over night. Rather it's made over many years of failure, long nights, empty pockets, along with many other things. Daymond John is an incredible entrepreneur that is an inspiration to many. I love that in the book Daymond portrays education two different ways that is so true. There is an education you can get from a school and read about and then there is an education you can get from doing something. This also translates to without some sort of risk there really isn’t a reward. I totally believe this and know this to be true. Yes, school education is wonderful but it can only get you so far. The true learning is done "on the job" through experience and through trial and error that everyone must pass through in order to get to the next destination. If you are wanting/needing a no-nonsense book that kicks your butt back in gear when you are about to give up, this book is for you! It's all worth it in the end! Enjoy!

This book has very inspiring stories from people of varying backgrounds who used their determination and creativity to make their dreams a reality. At the end of every story is the overall lesson you can apply to your situation and the lesson is always meaningful and realistic. One tip I’ve applied before even finishing the book was going to MicroMentor.org and signing up to receive mentorship for free. I’ve been working with a business mentor and it has changed my outlook on business and is helping me pursue my goals faster and in a smarter way. I highly recommend this book. Worth the read and the money.

The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage It’s hard not to listen to a man’s opinion, on how to navigate through life, once he’s made over a billion in sales – especially if he started off broke. First off, if it weren’t for Tim Ferriss and his amazing podcast, I probably wouldn’t have found out about this book. Well, I’m glad I did. The author, Daymond John, is CEO and Founder of FUBU and stars in ABC’s Shark Tank. The argument he makes in his book, The Power of Broke, is simple yet powerful: having empty pockets and an intense desire for success can become your greatest competitive advantage. Let’s start a discussion on some of the core principles, in this book. Daymond’s story of success is narrated through the concept, power of broke. He destroys the mindset that someone needs to have money to achieve great things in life. That’s not the case: you need passion or intense desire to achieve great things. The more you need to succeed, the more likely it is that you will succeed. Being hungry keeps you focused. Having less and needing more is at the heart of the underdog story. Finding yourself broke with a desire to be victorious, is the perfect fuel to accomplish your endeavors. Just don’t lose sight of your vision. Most people fear adversity, not knowing that it’s exactly what they need to keep pushing forward. Sometimes you can find the equity you need in the stuff you already have. The power of broke is about making the best out of a bad situation. True power comes from within, you can’t throw money at your problems and expect to solve them. Instead, critical thinking, creativity, and ingenuity are what it takes. Coca-Cola sold only 25 bottles in its first year of operation and look where they are now. Start small, dream big, and keep it real. These ideas are the premise of this book.

This book should be required reading in business schools as the first 43 pages alone blow away most business books out there. This book is rich in content and great stories you can apply to just about any industry or idea. If you are an entrepreneur or salesperson you need this book. Being able to read Daymonds narrative of success and mindset allows you to see where the power of broke come into play. What this book starts out with is the idea that there is an education you can get from a school and read about and then there is an education you can get from doing something. This also translates to without some sort of risk there really isn’t a reward. Here are the most common themes in the book – by the way these are just the tip of the iceberg: 1. You have to come up with something when you have no money and this forces an authentic creativity. There are things you learn from hustling and grinding you cant learn from a book, there is long term power in this knowledge. 2. Learn the core concepts of business and sales as they never change but be willing to try new approaches and use the core knowledge as your base of knowledge. 3. Understand power and where it comes from meaning how do you get attention and then use it for your product or service. Those who have the attention have the most power. 4. Being hungry keeps you focused, it’s easy to lose focus on what is important and chase other ideas or get pulled away from the core concept or idea. Some people or businesses try to do too much too soon and lose sight of what they started out as. 5. There is invaluable valuable knowledge to be learned in the struggle. The struggle of being broke helps shape ideas for the future and for the good of the product or the service being offered. Easy money may be easy to squander. 6. Understand the power of proof for the buyer. Social proof is huge and understanding what people want is important. Sometimes you have to come up with a more original idea to make it happen. 7. Sometimes you have to do the things you don’t want to do but need to do in order to find the success in the middle of the chaos. 8. Most people will never take the steps necessary out of fear of what others may think. 9. Most people fear adversity when it is exactly what they need to find the hunger or the reason why to move on. 10. Think about the assets you already have and how they can be used for the product or service. 11. Be willing to trade and help others out, they may need to be there for you at some other time. This means make sure to build a network of people for a future infrastructure. 12. Learn the power of making a deal and living up to it. This book goes through and gives examples of successful people and how they used adversity and being broke to their advantage. The cool thing about this section is this isn’t the typical group you read about or hear from in the business world for the most part. There are examples from different industries and services. Here is a short list of the people used: • Steve Aoki – Electro Dj / Record Label owner • Acacia Brinley – Social media superstar • Rob Dyrdek – Professional Skater – Clothing line owner • Jay Abraham – Marketing and business superstar • Ryan Deiss – Internet and marketing superstar • Mark Burnett – Creator of Shark Tank and other series This book has amazing content that can be applied in any circumstance, your true power is coming up with an idea, finding out how to make an attempt while looking for the big lesson in the success or failure and then trying again.

This is a MUST have books for entrepreneurs as well as entrepreneur wannabes. People often have this misconception of "you need money to make money". Daymond has proven us wrong over and over again. In this book, Daymond not only shared his own story but with 14 others who has gone from rags to riches including Mark Burnett, producer of Shark Tank. Today we see their success, but we have never seen the process of how they use the principles of Power of Broke to get where they are. You can not get to the next level if you stay where you are. The sooner you pick up this book, the sooner you get to exercise the power of broke. This book challenged the conventional way of thinking with proven facts. This is a great shark tool to help us think and advance. Daymond does not just give us the fish. He gives the tool for us to fish on our own. This is a great investment if you are serious about your business and even your life. Another great read besides his "Display of Power" and "The Brand Within". You WILL love this book!

First, I'm a supporter of Daymond's work over time so I'm biased; But, I am also forward, clear thinking and enjoy referring people to resources like Daymond... that will help them in some way. I know what would support an Entrepreneur, someone working in a business, or those in the early stages of desiring, dreaming...hoping if Entrepreneurship, moving forward, or pressing through glass ceilings or the perceived ceilings that might make them feel that something kind of hovers over their lives..keeping them away from next, more, or greater things. This book isn't for a particular type of individual; I think everyone, in any stage, could learn from The Power of Broke. Some people that are further along might even use a quote or two from this book in their keynote speech. I am reading the book right now, but I can tell you that having been a Sociology major once... Daymond's theories and stories definitely remind me of the things that my professor's taught about how groups interact and how individuals associate with institutions. Now with: sociology, business, and Entrepreneurship...How do I connect Daymond with Sociology? From the way those professors taught and from the things I've learned from Daymond... to me, he's like a Fashion, Business, & Branding Sociologist. I can actually see him teaching a class on this one day. What I believe I will learn is not only how to start in business, but how to keep a renewed mind through the process, and I will learn about other people who have started in very different ways. I believe I will walk away with tools that will help others to build strong business foundations. I am also learning that if I continue to wait for the perfect moment to start then I will never begin. And right now, is the time to RISE & GRIND. When I get up tomorrow, I need to get up with the end in mind. After I read this book to the very end..My plan is to return to this review and add more. Definitely worth the purchase... and I believe it will be more than a book shelf or book bag warmer for you. It's sooo much more.

It was a fair book for entertainment value, that is why I gave it three stars. That being said, ignore the reviews (likely paid or in exchange for free products) that say it should be a must read for business students. It could never be used in a business school because the "facts" used throughout the book are not only incorrect, he tends to contradict them later n the book. For instance; on page 5 there is a "Power Fact" that states that 8 out of 10 new businesses fail within the first 18 months. That data likely came from the garbage Forbes article back in 2013, but you wouldn't know it because there is no source information provided for his alternative facts... anyway, on page 36 there is another "power fact" that states only 44% of new businesses survive for 8 years... Now wait a minute! After 80% of those new businesses failed before 18 months, how were there now 56% left to fail again by 8 years? That's just magic! The actual math, according to the SBA is that 25% fail in the first year, 36% by year two and 66% around year 8. Not even close to Daymond's poorly researched numbers. Find a better ghost writer or spend more time fact checking if you actually wrote this! So, in short - read the book for entertainment value; but overall, don't expect any big revelations to come out of your reading. Most importantly, never trust a book or article that does not provide a source for its data!