Here’s a few thoughts on how to start a business from nothing and starting a business with no money by using the power of broke.
THE POWER OF BROKE
When you hit rock bottom and your bank account is close to zero, that’s usually when you get the most creative and focused.
Daymond John calls this the power of broke.
When you have to invest every single dollar in a smart way, when every move counts, when you have to find alternative ways to grow your brand and you are forced to think outside the box and find creative solutions, that’s when you’ve got the most leverage.
It’s those sleepless nights when you’re worried how you’re going to make enough money to pay next month’s bills or overhead costs.
The most successful entrepreneurs in the world are those who never lose touch with the power of broke. They never forget the number “0”, they still have the taste of dirt, sweat and blood in their mouths.
When you are broke, you need to make things happen.
But once you have tens of thousands or millions of dollars on your bank account, you take the easy way out and blow your money.
The power of broke keeps you in touch with reality. It’s the punch in the face that wakes you up and confronts you with reality and with pragmatism. Everyone is obsessed with talking about abundance, but we forget that scarcity is the most powerful motivation ever.
Never lose touch with it.
The day you do is the day your business starts failing.
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0:45 – The one and only thing you can trade for business success when you’re broke and are starting from absolute zero
1:51 – When you have nothing going for yourself but your hustle, effort and creativity it’s a great day in your life: It’s the power of broke.
3:09 – There is no invisible glass wall between you and the rich people, so stop telling yourself stories why being broke is an obstacle
4:11 – The moment you loose touch with the power of broke is when you loose your sense of reality, and your business will start failing