Daymond John, the star investor from ABC's «Shark Tank» and founder of the global fashion brand FUBU, has a blunt warning for aspiring entrepreneurs: do not start a business just for the money. Speaking at Fanatics Fest in New York, the 57-year-old businessman shared that the key to success lies in building a company around «something that you love.» He emphasized that if the work itself does not bring genuine satisfaction, financial rewards alone will not sustain the venture.
«If you're starting something that you love, you have to want to do it for free,» John said. «I always say to kids, you know, you got to get paid for what you'd do for free, you'd be able to sell whatever you would buy. So, any business is a great business. Emptying garbage is a great business if you really love it. If you're doing it just for money though, you'll be screwed.» He added that even fellow «Shark Tank» investor Kevin O'Leary, often associated with profit-driven decisions, is motivated by the intellectual challenge rather than sheer financial gain.
John's advice is rooted in his own entrepreneurial journey. He developed his business acumen from a young age, working various jobs before founding FUBU, which stands for «For Us, By Us,» in 1992 alongside three childhood friends. The company started modestly with John sewing wool hats and T-shirts in his mother's house in Queens, New York. Fueled by a passion for fashion and hip-hop culture, John aimed to fill a gap in the market for clothing designed for African Americans. «I was frustrated by Timberland and a couple of other people and brands that didn't make clothes for African Americans,» John told The Source Magazine. «That was why I initially created FUBU. It was my love of fashion as well as my love for music.»
FUBU grew into a multi-million-dollar global brand, becoming a staple in hip-hop fashion throughout the 1990s and early 2000s. John's success caught the attention of television producers, and in 2009 he joined the original cast of ABC's «Shark Tank,» alongside Barbara Corcoran, Kevin O'Leary, Robert Herjavec, and Kevin Harrington. As a «shark,» John has invested in dozens of companies, including well-known hits like Bombas socks and Bubba's-Q Boneless Ribs, helping entrepreneurs scale their businesses.
When evaluating potential investments, John prioritizes the person behind the idea over the product itself. «I always look for the person first — before the idea,» he told Inc. magazine. «I need to know that they are going to get the right information, and not go off and make mistakes without at least trying to educate themselves. I value an entrepreneur I can get behind and trust because I know they are attempting to move forward in life.» This philosophy reflects his own experience of learning through trial and error while building FUBU.
At Fanatics Fest, a Comic-Con-style sports celebration, John said he was attending as a fan, looking forward to experiencing the festival's mix of sports memorabilia, trading, celebrity appearances, and events from organizations like the WWE and UFC. His presence at the event underscored his continued engagement with fans and entrepreneurs alike, offering practical advice drawn from decades of business experience.
John's core message remains clear: passion, not profit, should drive entrepreneurial ambition. By focusing on what they love, founders can weather challenges and build lasting companies — a lesson he believes applies to any industry, from fashion to garbage collection.
