5 Principals from The Power of Broke (all you need to know)

You may have seen my previous book review of The Power of Broke by Daymond John. Below is a quick overview of what I feel is really worth taking away from the book.

Set a goal – You can’t hit a target you can’t see. Be realistic. Too high and you will be disappointed. Too short and you may miss opportunities. Grow incrementally until you find a scalable platform.


Do your homework- learn analytics and study your competition. Learn from others failures to prevent your own. Look for trends and learn to predict how the market will react to them.


Own, love, and live what you do- You have to love what you do. If you aren’t absorbed by what you do you can’t achieve. You are selling people on the idea of what you’re doing. Make Joy your biggest asset.


You are the brand – Respect and appreciate everyone on the path to success. Show everyone you work with, the supplier to the buyer, that you have their best interest in mind. The more humility you project the better. Let people know you are in 3 to five words. “Nike, just do it”


Be hungry- There is no reverse. Move forward. Push harder. Be hungry. It takes hunger to build a business.


Find a way to hardwire these points to keep them at the heart of all that you do.


1 Comment

  1. The Chimp Paradox elaborates on the first point nicely too: look out for the twins of unhelpful expectations and unrealistic expectations. That’s a phrase constantly pops into my head when goal setting. Thanks for the summary, nice post Richard!


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