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" Mentors don't have to be the Daymond Johns or the Mark Cubans. A person running a successful bodega or a tax firm in your community for the last 20 years, that person is working just as much as the individual who's running General Mills. "

Daymond John

Last

Person

Successful

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" In my mind, there are too many copycat web products out there that are doing the same thing. "

" In the founders, I look for a person I feel is trustworthy, driven and smart. I invest in the person first, because in the event the business fails, the person and I can move forward and create another business. "

" There really is no shortcut just because you have a name, or you have some kind of access or some way you can solve all the problems. And I think one of the things I learned with FUBU, you have to understand that there's really only two ways of operating a business: more sales, or lower overhead. "

" I'm a firm believer in utilizing celebrities because they tap into people on an emotional basis. "

" 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?' "

" The things that I've learned is, 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. "

" I believe the last thing I read at night will likely manifest when I'm sleeping. You become what you think about the most. "

" I think that in the earlier days, when I was a 'wantrepreneur,' I was really doing things because I thought what I wanted was to be rich. "

" I always tried to align myself with strategic partners, friends, and information to help me with the things that I did not know, and ultimately, I made it. "

" I'm the kind of person that when I saw a lack of African Americans in the apparel business, that was something I set out to do, and I lead by example. "

" I've failed way more than I've succeeded. "

" I don't care if you're my brother - if we go play football, I'm gonna try to crack your head open. It doesn't mean that I don't love you. It doesn't mean that I don't respect you. "

" 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. "

" I value an entrepreneur I can get behind and trust, because I know they are attempting to move forward in life. "

" One of my business partners would remind me that no fashion line lasts forever, that we would hit the down curve eventually, and that we needed to look for new brands that complement the first one. "

" I've learned, like with anything else, business is only as good as your connections and your resources. And some of the resources that I have are the fact that I work with huge artists. "

Daymond John

Business

Good

" Mentors, by far, are the most important aspects of businesses. "

" I look to work with businesses that know what they are doing but need larger distribution or exposure. "

" Every problem can be solved as long as they use common sense and apply the right research and techniques. "

" I never knew anything other than wanting to be an entrepreneur. I tried my first business when I was 6 years old, and I started another business when I was 8. I don't think I knew anything besides that. "

" 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. "

" FUBU is pretty well licensed out in China and Asia. In America it's a little more of a challenge, obviously, because it's a branded sport. "

Daymond John

America

China

" I think African Americans are resilient and hustlers by nature. I think they need to understand that you can take that hustle to the boardroom, but it has to be an education process. "

" If I invest in a CEO, I need him or her to have experience in sales. "

" A savvy entrepreneur will not always look for investment money, first. "

" An entrepreneur must pitch a potential investor for what the company is worth as well as sell the dream on how much of a profit can be made. "

" I already have enough apparel businesses that are either doing well or not really doing anything at all, and I'm looking to broaden my portfolio. "

" 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. "

" 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. "

" If you go out there and start making noise and making sales - people will find you. Sales cure all. You can talk about how great your business plan is and how well you are going to do. You can make up your own opinions, but you cannot make up your own facts. Sales cure all. "