'Shark Tank' star to Miami's young hustlers: Garnish power of broke

Daymond John: Undocumented, troubled, poor? No excuses, get to business

MIAMI BEACH, Fla. – After an entrepreneurial competition in Miami Beach, ABC's reality show Shark Tank star Daymond John learned about the Local 10 News' "#MyFutureMyChoice" campaign in response to the gun violence involving teens in South Florida.

The serial investor --with an estimated net worth of $250 million -- had a message for at-risk teens growing up in crime-ridden and poverty-stricken neighborhoods in Miami: There are ways to make money.

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There are life-saving options for teens who are unable to get good jobs or an education because they are poor and undocumented, he said.

"I think that they need to have access to information and they need to know that information is out there, it really is," John, 47, said. "Over 65 percent of the wealthiest men and women in the world came from nothing and they are self-made. That means they were all broke at one point or another."

While conflicts on social media among teens have escalated to shootings in South Florida, the founder of fashion brand FUBU said access to social media platforms has opened up business opportunities. Teens like Kylie Jenner, he said, have found ways to monetize their social media following. 

"Kids who are leaders in the community — in whatever aspect, chefs, whatever the case is — they have the ability to create a following and keep educating people on what they’re doing," John said. 

In his book "The Power of Broke: How Empty Pockets, A Tight Budget and a Hunger for Success Can Become Your Greatest Competitive Advantage" John provides several examples. He also devoted a chapter to Rob Dyrdek, a high school dropout with an estimated net worth of $50 million.

John attributed Dyrdek's success to his aggressive, hard-charging personality. His mom didn't work. His dad sold suits.  Dyrdek bought his own skate board. At 11-years-old, he didn't have the money for an entry fee required to enter a skate-board shop contest. And he had to improvise.

"He went to the event organizers with a proposal. He said, 'Look, if I can get 10 people to sign up, would you let me in for free?' It was a ballsy, brassy move -- one that cost him nothing to make and promised him everything he wanted in return." 

The fearless boy turned-professional-skateboarder is now a 42-year-old entrepreneur with an MTV reality show and a list of world records. But most importantly, he is a brand mogul, John said. Many can learn from Dyrdek. 

"Money wasn't what was driving him," John said in his book. "No, with Rob it was all about the push to be the best, to stand out -- and when you are the best, when you stand out in such a big-time way, the money can't help but follow." 

On Wednesday night, at the Colony Theater on Lincoln Road in Miami Beach, John helped to select the regional finalist for Tap the Future, a national innovation competition sponsored by Miller Lite.

Eunice Cofie, a Florida Agricultural and Mechanical University chemist, stood out with her Nuekie skincare line for people of color. The former Miss Black Florida was in tears after learning that she won $20,000 and the chance to compete for $200,000 in the September finals. 

After congratulating Cofie, John said his "#MyFutureMyChoice" message for Miami teens struggling with bad choices was to remember that if they make the right choices "they can make more money, own their own businesses and hopefully create more jobs and create a future for themselves."

Local 10 News intern Voleer Thomas contributed to this story. 


About the Author:

The Emmy Award-winning journalist joined the Local 10 News team in 2013. She wrote for the Miami Herald for more than 9 years and won a Green Eyeshade Award.