Daymond John

As an entrepreneur, you never stop learning.

I'm a big advocate of financial intelligence.

My parents always taught me that my day job would never make me rich; it'd be my homework.

Fortunately, right now 'entrepreneurship' is one of the business world's biggest buzz words and so many young people in our country are looking up to this new generation of CEO's as their modern day rock stars. Whenever you have that effect, it makes the job of promoting entrepreneurship much easier.

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.

When I first came into money, I bought six or seven homes. One weekend I went to Miami and bought an apartment and a mansion several blocks from each other, which was not that bright!

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.

I started FUBU in 1989 but ran out of money three times and closed it down.

The things that I've learned is, try to make all the mistakes with your own money and on a small level so that when you are responsible for a partner's money or assets, you've learned, and you don't make bigger mistakes.

A savvy entrepreneur will not always look for investment money, first.

I think that in the earlier days, when I was a 'wantrepreneur,' I was really doing things because I thought what I wanted was to be rich.

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.