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While Good Business Ideas Are Plentiful, Many Entrepreneurs Struggle To Understand Payroll Taxes, Health Care And Other Thorny Issues… In Other Words, They Don't Have The Financial Literacy To Scale Their Businesses And Attract Investors.

-Daymond John

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While Good Business Ideas

Daymond John

...

While Good Business Ideas Are Plentiful, Many Entrepreneurs Struggle To Understand Payroll Taxes, Health Care And Other Thorny Issues… In Other Words, They Don't Have The Financial Literacy To Scale Their Businesses And Attract Investors.

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I Consider Each Business Investment Based On Concept And Revenue.

Everyone Has An Idea, But It’s Taking Those First Steps Toward Turning That Idea Into A Reality That Are Always The Toughest.

Product Is Always King.

I Think A Great Entrepreneur Is Learning Every Day. An Entrepreneur Is Somebody That Doesn't Take No For An Answer - They're Going To Figure Something Out. They Also Take Responsibility. They Don't Blame Anybody Else. And They're Dreamers In One Sense But They're Also Realistic And They Take Affordable Steps When They Can.

I've Come To Learn That My Initial Investment Is More About The Person Versus The Product That I Am Buying Into. I've Also Learned That I Really Do Enjoy Giving Worthy People An Opportunity Of A Lifetime.

I Do Today What People Won't, So I Achieve Tomorrow What Other People Can't.

When Looking At Trends I Always Ask Myself Basic And Timeless Questions About Business, And The One I Seem To Always Come Back To Is, 'how Is This Different Than Anything Else In The Marketplace?'

I've Failed Way More Than I've Succeeded.

While Good Business Ideas Are Plentiful, Many Entrepreneurs Struggle To Understand Payroll Taxes, Health Care And Other Thorny Issues… In Other Words, They Don't Have The Financial Literacy To Scale Their Businesses And Attract Investors.

Life Is A Cruel Teacher. She Loves To Give You The Test First And The Lesson Later.

I'm A Big Advocate Of Financial Intelligence.

Financial Intelligence

It Will Never Be A Perfect Time, You Can Only Make Time Perfect.

I'm Not A Golf Player. I Think Golf And Fishing Are The Same, But At The End Of The Day, You Can't Fry Up And Golf Ball And Dip It In Tartar Sauce. So I'm A Fisherman.

Learn As Many Mistakes And What Not To Do While Your Business Or Product Is Small. Don’t Be In Such A Hurry To Grow Your Brand. Make Sure That You And The Market Can Sustain Any Bumps That May Occur Down The Road.

Make Sure You're Doing Something That You Love, That You're Willing To Do For The Rest Of Your Life. If You're Doing It For Money, That's The Only Thing You Won't Make.

Rest Of Your Life

You Don’t Get Rich Off Your Day Job, You Get Rich Off Your Homework.

The Only Thing That Scares Me In The Tech Area Is That It Moves So Fast That You Have To Be Ready To Invest In 20 Things. Because If You Just Invest In One, Next Week, Somebody Has A Better Mousetrap, And You Get Taken To The Cleaners.

The Perfect Breakfast Is Fish With Grits And Scrambled Eggs With Onions. I'm Getting Hungry Thinking About That.

When You Have A Large Amount Of The Workforce Being Laid Off, Some Of Them Have No Other Choice But To Go Out There And Invent Something.

Success Is Waking Up Every Day And Doing What You Want To Do

Truth Is The Easiest Thing To Sell.

I Look To Work With Businesses That Know What They Are Doing But Need Larger Distribution Or Exposure.

It Is Very, Very Hard To Do That Ballroom Dancing And I Am Going To Be Nowhere Near It. Now If You Have A Hot Dog Eating Contest, Call Me.

A Savvy Entrepreneur Will Not Always Look For Investment Money, First.

As An Entrepreneur, You Never Stop Learning.

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Whether People Know It Or Not, I'm A Big Nature Guy. I Like Snowboarding, I Like Fishing, And Those Are My Ways To Wind Down.

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You Don't Have To Work For A Big Corporation If You Don't Want To.

We All Want The Freedom To Make Our Own Decisions.

It Takes The Same Energy To Think Small As It Does To Think Big. So Dream Big And Think Bigger.

Strategic Partners Are Way More Important Than Money.

Pioneers Get Slaughtered, And The Settlers Prosper.

I Think It's Only Failure If You Put The Word Failure On It. I Think It's Part Of The Process Of Learning Where You're Going To Go And What Doesn't Work.

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If You Aren't Living Your Dreams Then You're Living Your Fears.

Poor People Put A Low Value On Themselves And Their Efforts.

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Good Grooming Is Integral, And Impeccable Style Is A Must. If You Don't Look The Part, No One Will Want To Give You Time Or Money.

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Always Dress To What Is Accurate To Who And What You Are.

I Think The Single Biggest Turn Off Is People Who Think That They Need Money And They Need All These People Around Them So If They Get The Money They Can Just Buy All The Things They Need To Help The Company... [without] Hav[ing] To Put In The Work Themselves.

When You Sell A Product Or Service, You're Making A Promise To Your Audience. If You Don't Understand Your Audience, You'll Never Be Able To Keep That Promise And You'll Ultimately Let Them Down.

If You Can't Come Clean And Tell Investors How And Why You Failed, That Raises A Red Flag. They Need To See That You Learned From It And Came Back Stronger.

Try To Make All The Mistakes With Your Own Money And On A Small Level So That When You Are Responsible For A Partner's Money Or Assets You've Learned And You Don't Make Bigger Mistakes. Try To Go As Far As You Can Without Anybody Else's Help First.

My Mother Said, "money Is A Great Slave But A Horrible Master." It Was Her Version Of A French Proverb.

In Entrepreneurship, You Decide To Give Up Your Day Job At The Point Where Either (a) The Hobby/new Business Is At Least Making Some Form Of Ends Meet, Or (b) You Feel That You Need To Dedicate Yourself For A Certain Amount Of Time To It And Give Yourself The Last Hoorah.

If You Don't Educate Yourself, You'll Never Get Out Of The Starting Block Because You'll Spend All Your Money Making Foolish Decisions.

When You Succeed You Have A Million People To Thank, But When You Fail There Is Only One Person To Blame.

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I Think Wall Street Is Very Important, Especially To Tech Companies. Wall Street Will Get In Their Rhythm And Go Fund Tech Companies, And Tech Companies Will Go Create Jobs And Employ A Lot Of People, So There's That Aspect Of Wall Street.

You Can Make Up Your Own Opinion, But You Can't Make Up Your Own Facts, Go Sell.

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