Tag Archives: Daymond John

‘Shark Tank’s’ Daymond John ‘Quicker to Go for the Jugular’ These Days

Daymond John ABC photo

“Shark Tank” entrepreneur Daymond John and his fellow shark, $2.5 billionaire Mark Cuban, are working out the details for their planned “Twittch” — that is, Twitter pitch — event April 9 at the Reality Rocks Expo at the L.A. Convention Center.  Business wannabes will have the chance to pitch their products to the potential investors in 140 characters or less while the duo talks about the use of social media to build brands.

The FUBU founder and CEO admits that when he was starting out, he couldn’t have sold an investor in 140 characters.  “I got turned down by 27 banks, so it didn’t matter whether I had 140 words or 140,000.”

Still, he’s into social networking for fun and profit now.  He gets around 200 pitches via Facebook, Twitter and email per week, and “I do look at most of them.  Mark Cuban says he’s backed products by people he’s never met through Twitter and e-mail.  I’m not going to do that.  I want to meet people before I give them any money.”   As for whether any of those pitches have been effective, John says he’s consulting with a handful of people who began with an unsolicited pitch to help them develop their goods or services.  Products from another few “are in my portfolio in case I meet with a company that might work a good deal with them.”

MEANWHILE:  With Season 2 of “Shark Tank” underway, John has sharpened his game.  Now, when he sees a product that he wants that other sharks also want, “whether I have a good or bad feeling about the shark, I’ll go for the jugular quicker.” Now, he has attorneys at the ready “so I’m better equipped to structure these deals.”  John also has “strategic partners in place” to help him carry through deals faster.

He tells us he’s glad for the addition of recurring sharks Cuban and Jeff Foxworthy.  “It makes it more fun and brings more eyeballs.  When Jeff came in, we didn’t know what to expect, his having been in show business for more than 25 years.  But you can’t be an idiot and be as successful as he is.  We were like, ‘Wow.  He gets it.  He understands.  He’s a businessman.’  We were pleasantly surprised.

“And with Mark, we expected him to come in and start throwing chairs and screaming,” he says of the fiery founder of HDNet and owner of the Landmark Theater chain and the Dallas Mavericks.  “But he’s been great.   He also created a different challenge in that he is perceived as Mr. Moneybags.”  But that can be used against him, John believes.  “I’ll say to people, ‘When you have to pay for the gas in his jumbo jet for him to come in for a meeting, what’s that going to do to your budget?’  And when you need to reach him and can only get his secretary, what are you going to do then?’  It’s all about playing a smart game.”

And for the sharks, it really is about the fun of playing the game, for, as John notes, none of them “has to work another day of our lives.”

“Shark Tank’ a Win for Daymond John Regardless of Future

Daymond John

ABC may have left ‘Shark Tank’ off its fall schedule, but executive say the reality show may have life in it yet. No matter what its future, branding expert, mogul and ‘Shark Tank’ shark Daymond John sees the show as a win-win. ‘It’s been very good for my personal brand. Before the show, people didn’t have an understanding of what I do. They expected the FUBU guy to come in break dancing and wearing gold teeth,’ notes the man whose urban fashion line became the cornerstone of a multiple-company empire. ‘When they see me on TV, they see the business aspect. It’s business and not about a color or particular product.’

He also expects to make money from the investments he’s made on ‘Shark Tank,’ although he tells us, ‘I’m not going to see returns on those things for another three years. Getting products placed at The Sharper Image; Bed, Bath & Beyond and other major stores is a huge boon to these people,’ he says of the ‘Shark Tank’ contestants. ‘They would not normally look at products without a background, but due to the show, they’re ready to take them into their stores and test them.’

Daymond John Names Top Celebrity Self-Branding Success Story

Daymond John ABC photo

Branding expert Daymond John talks a lot about the success stories of branding when it comes to products and companies.  How about naming celebrities that do a great job of branding themselves?

“The Kardashians,” instantly replies the “Shark Tank” star.  “They automatically come to mind.  You’ve got to think about it – they actually are really not known for anything…”  So true!  “…and yet they’ve become America’s sweethearts, America’s ‘Brady Bunch’ of today.”  What a scary idea.

He continues, “Kim has become a fashion icon, a beauty icon.  They can brand family, they can brand Hollywood, they can brand beauty.  None of it has to be because they sing or dance or anything else.”  As John notes in his first book, “Display of Power: How FUBU Changed a World of Fashion, Branding and Lifestyle,” “We all have the same engine under the hood.  It’s just that some people understand how to tap into that power.”

Kim Kardashian

John is certainly tapping into his power in a major way.  He’s keeping up with the demands of his own FUBU business empire while on the road promoting his powerful new “The Brand Within” book – wherein readers learn how they, too, can make hay via branding.  He expects to stay just as busy traveling, speaking, meeting and appearing for the next couple of months.  He says he’ll know within six weeks what’s in store as far as the next season of his addictive ABC “Shark Tank” show, in which entrepreneurial wannabes and inventors endeavor to get John and his fellow sharks to invest in their wares.