One perk of being part of Ohio State is being able to take advantage of all the events the Ohio Union Activities Board (OUAB) puts on. Last month they welcomed Daymond John to the Union. For those of you who don’t know, Daymond John is one of the judges on ABC’s Shark Tank, as well as founder, president, and CEO of FUBU. They set up his presentation into two separate sections. First, they allowed four individuals/groups to present a pitch for their product to the “sharks”. The “sharks” consisted of three professors and John. All of the product pitches were very interesting and John provided great constructive feedback to the students.
After the pitches were over they started a moderated Q&A. John shared with the audience his story of starting his own business to his experiences on Shark Tank. John was able to provide a lot of solid advice for future entrepreneurs and businessmen and women. One major piece of advice he gave was to learn how to be financially responsible. It doesn’t matter whether you learn this “on the job” or through formal education, just as long as you become financially educated. He stressed too many times startups fail due to poor financial decisions or poor financial structuring. He also talked a lot about his perseverance and how it is important to set goals and attain those goals. His strategy was to set long-term goals and short-term goals to gradually achieve the long-term goal. Through his perseverance and his dedication to completing his goals he became a successful entrepreneur and investor.