"Shark Tank" star Daymond John is giving fans some blunt advice on how to be successful in business.When speaking to Fox News Digital at Fanatics Fest, the 57-year-old businessman shared that to have a successful business, you have to build it around "something that you love.""If you're starting something that you love, you have to want to do it for free.I always say to kids, you know, you got to get paid for what you'd do for free, you'd be able to sell whatever you would buy.
So, any business is a great business.Emptying garbage is a great business if you really love it.
If you're doing it just for money though, you'll be screwed.Even Kevin O'Leary, you think he does it for money? No, he just likes complicated structures that manage his downside.
But at the end of the day, he likes the chess game."The reality TV star began working at a young age, developing his entrepreneurial spirit before founding FUBU ("For Us, By Us") in 1992 along with three of his childhood friends.DIGITAL ENTREPRENEUR CREDITS THE WORLD CUP WITH TEACHING ABOUT SOCCER AND BOOSTING HER MONTHLY INCOMEDaymond John advised young entrepreneurs to build a business around something they love and would buy themselves.(Michael Yarish/WBTV via Getty Images)Now a global fashion brand, the business began with John sewing wool hats and T-shirts himself in his mother's house in Queens, New York."First of all, I was frustrated by Timberland, and a couple of other people and brands that 'didn’t make clothes for African Americans,'" he told The Source Magazine.
"That was why I initially created FUBU.It was my love of fashion as well and my love for music.
And I felt that no longer did we have to have the 'make it and they will come theory' like other designers."CLICK HERE TO SIGN UP FOR THE ENTERTAINMENT NEWSLETTERHe continued: "I was a designer who actually respected the community I was selling to, and it was fun.It was an exciting time.
Hip-hop was young and fresh, and I was just happy to wear the c...