Actionable Book Review of Daymond John’s The Power of Broke

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You are so lucky to be broke! If you have an empty bank account and maxed out credit cards, then you are ready to tap into the power of broke. I have been broke pretty much my whole life but I never realized how much of a blessing that was. When I didn’t have a choice, I hustled. The only time I stopped hustling is when I thought I was financially ok, but of course, it was not enough to last. Daymond John helps you to tap into the mindset of being broke with no choice but to hustle. I gained several actionable ideas that I am already applying to my life and I will share three of them with you here in this review. I hope when you read this book you will take action as well.

You don’t need resources

You need to be resourceful! If you don’t have enough you have to work harder, longer, faster, and stronger than everyone else. That mindset of working harder than even you thought possible is the power of broke. Daymond is clear to point out that having resources is not bad and obviously is helpful but it also gives you enough security to relax. As you may have realized, circumstances can change quickly and those who are relaxing will get hit hard. So regardless of your resources, or lack thereof, you need to maintain a hustle mentality. Rise and grind! Act as if your back is against the wall and its do or die time, even if that is not your current standing. When you don’t have a choice but to hustle, then you are tapping into the power of broke.

Think within reach

Take affordable next steps. You should be thinking big but take small and smart steps towards your goals. Entrepreneurs today fail when they take on too much too soon. Daymond speaks about one of his early businesses, the van business. Before the share a ride businesses such as Uber & Lyft, Daymond used a beat up old van to transport people to and from their destinations. He would charge less than the bus and he was able to meet them and would drop them off exactly where they wanted.  At this time Daymond’s peers were driving nice cars with all the accessories and would poke fun at his beat-up van. So when he started making a decent amount of money he was tempted to buy a better-looking van with all the bells and whistles. Thankfully his business mind took hold and he realized that spending the money on a new van was not financially intelligent. His business forethought paid off when the cost of tickets,  fines, and the condition of the van drove him out of the van business and into the clothing business. The lesson is that even when you begin to have resources continue to take small and affordable next steps towards massive success.

Put everything into your hustle

Have you ever experienced someone trying to convince you to buy something that they don’t own? For example, your friend tells you that you should buy XYZ stock because it is doing so well right now. The first question that comes to my mind is always well if its so good then why haven’t you bought it? I’d bet your customers are asking you the same thing if you have not completely applied the power of broke to your hustle. You have to own whatever you are trying to sell so that you are authentic to your customers.  Part of the power of broke is to put everything into your hustle because you know that this is your last chance. If you were in a life or death situation would you hold back something that has even the slightest potential to help you live? Then don’t hold back when applying the power of broke. Everyone around you will notice and you will begin to gain resources and opportunities only available to those that are all in.

 

Learn more or purchase Daymond John’s The Power of Broke

 

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