The Tai Lopez Show

“The #1 reason small businesses fail is because of overfunding.” - Daymond John

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We all want to be more productive.

After our morning coffees, we have great ambitions for the day. And at the end of the day, we are disappointed with not reaching our morning’s goals. The trick to productivity is diagnosing where you go wrong during your day and fixing it. From becoming more selfish to giving yourself praise to working smart vs. working hard, there are many strategies you can integrate into your daily routine.

On today’s episode of The Tai Lopez Show, we are joined by Daymond John. He is most well-known for his appearance on the hit show Shark Tank. As a teenager, he started the hip hop-inspired clothing line FUBU, while working his job at Red Lobster for $30,000/year. In this interview, we hear his insights on entrepreneurship, productivity, and what money actually means. He is the author of Rise and Grind. Tune in to hear his insights and take your daily hustle to the next level!

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“Obsession with your business is the same as obsession with your kid. You don’t look it as a daily job; you look at it as the process. You know you’re not going away, just like you know you aren’t giving your child up for adoption.” - Daymond John

(click to tweet)

Points to Keep In Mind

  • Obsession is being focused on the process, not any sort of results
  • 2 ways to operate business: either reduce costs and/or increase sales
  • 3 ways to deal with customers: buy new one, upsell current one, or make one buy more frequently
  • Read The Power of Broke to learn how money is a superficial high
  • Over 60% of Forbes 1000 are self-made men and women
  • The #1 reason small businesses fail is because of overfunding
  • The people who tell you to quit your day job are selling insecurity
  • Money is a great slave and horrible master
  • If you have to take a vacation from your job, you shouldn’t go back
  • Be careful of the email inbox trap where you are focusing on fixing other people’s problems and not your own
  • Read The Everything Store to learn the story behind Amazon
  • The top 10 richest men have more money than the bottom 3.5 billion combined
  • Productive people are selfish, give praise to themselves, and meditate on their goals
  • An entrepreneur questions the system and everything around them
  • Sometimes being born into wealth is a disadvantage

Direct download: TLS_2-6-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PST