Five Rules For Entrepreneurs

In the book The Power of Broke (Crown Business, 2016), Shark Tank star Daymond John explains to aspiring entrepreneurs why starting out with little to no funding can actually be a huge advantage. In the following edited excerpt, the entrepreneur draws on the success of Shark Tank to explain principles that all successful business owners should follow. Follow his SHARK point basics:

1. Set a goal - The first point is to establish where you are headed. Be realistic and think what’s possible in a best- case scenario. Think about what’s in reach and then set your goal a little bit higher and commit to this as your goal.

2. Homework, do yours - Analytics are key. You will need to know your field, competitors and measure where you are at and how to get to your goal.

3. Adore what you do - You have to love what you do. Own it, love it, live it and you can find a way to make it work.

4. Remember, you are the brand - It all starts with how you carry yourself, what you put out into the world, the way you interact with your audience, your customers, the marketplace.

5. Keep swimming - You have to keeep moving forward in your business. Your competitors are always out there swimming so you have to keep up with them and the industry.

*Courtesy of Inc.com


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.