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Photo Galleries
Daymond John et al. at Pitbull's 30th Birthday Bash
USA Today Photoshoot
Backstage at Verizon's Empowerment Series
Recap from the Reality Rocks Expo Weekend
EBITDA
Ask Daymond See Comments »Daymond, What would you consider a good EBITDA at the end of the year for any company? I’ve always heard aim at 15% after all costs, wages, ect. Thanks!
I think that at the end of the day, you want to try to aim for 20% after all costs, wages, advertising, etc. on your EBITDA because in the “lean years” this will range anywhere from 8% to 20% and in “good years” it will fluctuate up to 30% after all fees and operation costs are paid up.
Daymond
ShareBoosting Business
Ask Daymond See Comments »Hey Daymond, I’m a clothing designer. I design jeans mostly, yet low on capitol so business is at a snails pace at the moment. My designs are great; lots of good response. What’s the best way to boost my business and gain capitol and exposure, and perhaps to find an investor?
Several different questions are asked; In regards to gaining exposure, social networking is probably the best way. You get the purest response from people who do not know you. Putting product into stores so that actual consumers, that do not have any interest just you, go in and pick up your product, solely. After this point, you then move towards making small sales, and when you get up to a sales point where you can show growth and steady revenue income on a small level, you then go after investors, depending on your needs. Most times, investors are not the most important thing, it’s the strategic investor. The person who can not only give u capitol, but someone who understands all aspects of the business.
Good luck
Daymond John
Patent Your Product!
Ask Daymond See Comments »I can design unique shirts and clothes all day, I can get some people to buy them. I’m 18 and haven’t made a business our of this yet. What are some things you look for on Shark Tank that would set someone in my position apart? Or what advice would you give to point me towards the successful direction? Are there any places I should go for production or printing?
What we look for on Shark Tank, to invest in businesses, is somebody who is generating revenue, and can track and show growth in that revenue. Or somebody who has a brand or identity that can be patent. This does not mean trademarked! This means patent with a proprietary concept that nobody else can do. In regards to production and printing, you should always start off small. There are always local printers and producers in the garment district of your area; I would start there first!
Regards,
Daymond
Gaining Capitol & Investors
Ask Daymond See Comments »Hey Daymond, I’m a clothing designer. I design jeans mostly, yet low on capitol so business is at a snails pace at the moment yet my designs are great; lots of good response. What’s the best way to boost my business and gain capitol and exposure, perhaps to find an investor.
Several different questions are asked; In regards to gaining exposure, social networking is probably the best way. You get the purest response from people who do not know you. Putting product into stores so that actual consumers, that do not have any interest just you, go in and pick up your product, solely. After this point, you then move towards making small sales, and when you get up to a sales point where you can show growth and steady revenue income on a small level, you then go after investors, depending on your needs. Most times, investors are not the most important thing, it’s the strategic investor. The person who can not only give u capitol, but someone who understands all aspects of the business.
Good luck
Daymond John
Work vs. Fun
Ask Daymond See Comments »Do you want to work forever like Donald Trump/Warren Buffet or are you planting seeds so that others can continue your legacy, while you sit and watch those seeds grow? I tell people that my goal is to do absolutely nothing! Wake up everyday on an island– getting paid without lifting a finger and only working on occasion. Is that realistic or does the fire never die?
Warren Buffet and Donald Trump work, I’m sure, because they want to work. A lot of times the reward of working is the love of doing it and feeling accomplished, everyday. If you believe what you want to do is plant seeds so you can live on an island, watch your money grow, and do nothing, then that is the person you are. As for me, I don’t think that I’ll stop working. Even if I were on an island, i’d be building something on that island, whether it’s sandcastles, selling coconuts or giving surfing lessons. Some people may consider it work, but i still consider it fun. Whatever the case, it is solely up to each individual.
Daymond John