Book
Review by Sapphire Ng
The
Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for
Success Can Become Your Greatest Competitive Advantage
by
Daymond John, Daniel Paisner
Crown
Business
ISBN:
978-1101903599
Copyright
January 2016
Hardcover,
288 pages
The
Power of Broke
dispenses essential business and entrepreneurial advice in a highly
accessible manner, being incredibly lucid in communicating business
concepts and strategies in an easily understandable manner. The
distinctly approachable and colloquial tone of voice employed with
minimal use of jargon makes it an ideal reading for the general
public who may or may not have a business background.
A
practical and inspirational book, The
Power of Broke
is a great source of motivation for entrepreneurs currently building
their businesses or contemplating starting new businesses. The book
repeatedly emphasizes the importance of being informed regarding
one's consumers and market, of intimately engaging with one's
passions, and being authentic in approaching entrepreneurship in
contrast to a superficial engagement with the building of a
“business”.
Particularly
interesting is John's coining of “SHARK Points” as a guideline
for entrepreneurs. His three-word mantra “rise and grind” and
relentless mentioning of the act of “hustling” throughout the
book work well to reinforce the psyche of the ideal entrepreneur. It
was fun noting the parallels drawn by John between positive
characteristics possessed by successful entrepreneurs with sharks,
the majestic creatures of the ocean.
The
book contains enlightening entrepreneurial stories including the
successes of the scholarship app Scholly which exemplifies the
concept of first-to-market; the launching of a cupcake business,
Gigi's Cupcakes by a woman who simultaneously managed a demanding
cleaning business; the struggle and subsequent triumph of the author
of the book The
4-Hour Workweek
in relentlessly pursuing ways to position himself for strong selling
opportunities; and John's boss, the producer of Shark Tank, Survivor,
The Voice and The Apprentice, Mark Burnett's journey to becoming one
of the most successful television producers in the business.
Though
not a substitute for actual experience, this book qualifies as decent
tutelage in the subject of entrepreneurship. It contains its fair
share of warnings of for example overfunding, to attempts to convey
the power of positive thinking, where an instance includes viewing
John's dyslexia as an advantage to being a business owner.
Disclaimer:
I received a complimentary copy of this book from Blogging for Books
for this review.
No comments:
Post a Comment