As an entrepreneur, you never stop learning.
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.
Mentors, by far, are the most important aspects of businesses.
My parents always taught me that my day job would never make me rich; it'd be my homework.
Poor people put a low value on themselves and their efforts.
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.
An entrepreneur needs to know what they need, period. Then they need to find an investor who can build off whatever their weaknesses are - whether that's through money, strategic partnerships or knowledge.
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.
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.
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'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 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.
Five days a week, I read my goals before I go to sleep and when I wake up. There are 10 goals around health, family and business with expiration dates, and I update them every six months.
I believe the last thing I read at night will likely manifest when I'm sleeping. You become what you think about the most.
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.
I started FUBU in 1989 but ran out of money three times and closed it down.
I had a little delivery van, and I did work around Queens. I was also a waiter at Red Lobster, so I was working on the business in between jobs.
No matter what business you're in, business is business, and financing and money are critical. I would have made a lot fewer mistakes if I had more schooling in that area.
I've failed way more than I've succeeded.
I like to look at things that have been developed and re-developed over the course of time so I know the bugs are worked out of it. And in the business itself, I like to look at sales, by far. I want to see that there is a vetted track record of sales to show the price point has worked.
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.
Every problem can be solved as long as they use common sense and apply the right research and techniques.
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 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.