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The Power of Broke

The Power of Broke

By Daniel Paisner & Daymond John

How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Advantage. Crown Business, 2016.

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12 mins read

11 Key insights

A brief summary of The Power of Broke

Creative, practical steps for business owners to harness a lack of resources and turn it into a positive force for creating large profits and lasting success.

Key insights in The Power of Broke

1
What do you get from this book? Practical advice to use your disadvantages as a springboard for success
2
Being broke is a powerful ally—having nothing can drive innovation and success
3
If you’re broke, you have no choice but to keep reaching and never stay complacent
4
Consider everything and everyone around you as a resource you can potentially use to help you grow
5
If you work with authentic passion, you’ll outperform your competition who rely on big budgets to stay ahead
6
Having nothing forces you onto a new path to find success, often creating a better way to do business
7
Grow incrementally and bootstrap your business slowly to keep control of your company
8
A large company can act broke, staying true to its roots and humble beginnings to continue to grow
9
Summary of the key insights
10
Selected critiques in brief
11
Final word

Who should read The Power of Broke

Marketers • business owners • entrepreneurs • creative thinkers • visionaries

About the author of The Power of Broke

Daymond John is a prominent investor on ABC’s Shark Tank and the founder of hip-hop fashion brand FUBU. John was selected by President Obama to serve as a global ambassador for young entrepreneurs. Daniel Paisner is an author who cowrites books with celebrities. John and Paisner have also co-written The Brand Within and Rise and Grind.

author avatar

Daniel Paisner

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Daymond John

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