BOSS ISSUE 010
E-Magazine of Today’s Young Black Leaders 12/12
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Be your Own Success Story
1 YEA R N N ISSUE 10 V E R S A R Y
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SHARK TANK investor and F.U.B.U. Founder
DAYMOND JOHN ISSUE 10
gives us an exclusive interview about what it takes to be an entrepreneurial BOSS!
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of our magazine. The personal testimonies of the successful “Bosses” we speak with are priceless. Every issue will have featured interviews that you definitely do not want to miss! These interviews are enlightening, informative, and will, without a doubt, shape your life. What do you want to be when you grow up? Yeah, there’s an interview for that!
A young entrepreneur, an industry pioneer, a highly regarded marketing expert, and a man who has surpassed new heights of commercial and financial success are just a few ways people have described Daymond John. Over the last 20 years, Daymond has evolved from one of the most successful fashion icons of his generation to one of the most sought after branding experts, business, and motivational speakers in the country. Daymond’s creative vision and strong knowledge of the marketplace helped him create one of the most iconic fashion brands in recent years. FUBU, standing for “For Us By Us”, represented a lifestyle that was neglected by other clothing companies. Realizing this need in the marketplace, Daymond created the untapped urban apparel space and laid the groundwork for other companies to compete in this newly established market. Daymond grew up in the community of Hollis, Queens, quickly becoming known as the birthplace of the new genre of music called Hip-Hop, with acts like RUN DMC and Salt-N-Peppa rapidly making names for themselves. Being surrounded in this influential neighborhood helped spur the inspiration for his clothing line that would ultimately change the fashion world. His first foray into the apparel market came when he wanted a tie-top hat he had seen in a popular music video but could not find one for a good price. With the sewing skills he had learned from his mother, Daymond started making the hats for himself and his friends. Realizing he was on to something, Daymond made a sizeable order of the tie-top hats, sold them on the streets of Queens one day, and made $800 in just a few hours. There was a buzz about Daymond’s products that simply could not be ignored. Based on that early success, Daymond recruited some of his neighborhood friends and FUBU was born. They created a distinctive logo and began sewing the FUBU logo on all sorts of apparel, including hockey jerseys, sweatshirts and t-shirts. The brand hit a tipping point when Daymond convinced Hollis native and Hip-Hop superstar, LL Cool J, to wear FUBU for a promotional campaign. This was the catalyst behind the entire Hip-Hop community supporting the new brand and instantly giving it credibility. In need of start-up capital to keep up with demand, Daymond and his mother mortgaged the home they collectively owned for $100,000. Soon, the home was turned into a makeshift factory and office space. FUBU gained even more nationwide exposure when Daymond and his partners traveled to the industry trade show Magic in Las Vegas. Despite not being able to afford a booth at the event, the FUBU team showed buyers the distinctively cut, vibrantly colored sportswear in their hotel room. The company came back to Queens with over $300,000 worth of orders. FUBU soon had
famous, is a role model for somebody, and if we as though we are?cheerful, kind, loving, courtesure someone is watching and taking deliberate and diligent notes. ~~ Maya Angelou
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a contract with the New York City-based department store chain Macy’s, and it began expanding its line to include jeans and outerwear. A distribution deal with Korean electronics manufacturer Samsung allowed their designs to be manufactured and delivered on a massive scale. With the brand transcending into the mainstream markets, FUBU recorded annual sales of $350 million, placing it in the same stratosphere as designer sportswear labels such as Donna Karan New York and Tommy Hilfiger. In 2009, John joined the cast of the ABC entrepreneurial business show, Shark Tank, produced by acclaimed TV producer Mark Burnett. As one of the “Sharks”, Daymond and four other prominent executives listen to business pitches from everyday people hoping to launch their company or product to new heights. Investing his own money in every project, Daymond becomes partners with the entrepreneurs helping turn their dreams into a reality. Millions of viewers tune into the show as Daymond demonstrates his marketing prowess and entrepreneurial insights. Due to the increasing amount of requests from major companies, Shark Branding was formed to provide companies with the marketing insights that have made Daymond’s companies successful over the years. The firm consults companies on innovative strategies to connect with their consumers more effectively by associating with the world’s most influential celebrities, musicians, and personalities. Whether it’s activating a celebrity endorsement or integrating product in a music video, companies rely on Shark Branding to utilize Daymond’s contacts and relationships to produce real results and sales. Daymond entered the literary world with his first book Display of Power: How FUBU Changed A World Of Fashion, Branding And Lifestyle which tells the story of his awe inspiring journey and provides a roadmap for those who aspire to succeed in business and in life. Daymond followed up his with his second book, The Brand Within: How We Brand Ourselves, From Birth To The Boardroom, which examines the loyal relationships companies seek to establish with the public by attaching celebrities to their brands and the instantaneous impulses consumers exhibit when purchasing a product. Drawing on his cutting edge experiences in the fashion business, as well as his hard-won insights developed as a sought-after marketing consultant to trendsetters and tastemakers, the author argues that branding relationships have now seeped into every aspect of our lives. In recognition of his contributions to fashion and the face of American business, Daymond has been celebrated with some of the most prestigious awards including: Brandweek Marketer of the Year, the Advertising Age Marketing 1000 Award for Outstanding Ad Campaign, Crain’s Business of New York Forty Under Forty Award, and Ernst & Young’s New York Entrepreneur of the Year Award. (via daymondjohn.com)
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ur Mission is to provide minority, and underserved youth with an outlet to discover their potential through literary content and accessible role models to evoke the spirit of “believing in one’s self� while teaching them how to create, pursue and believe in the path of becoming a professional.
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Wow, today is our 1 year anniversary! I cannot put into words how overjoyed I am with this moment. I can remember when B.O.S.S. was just an idea, a thought, a belief, and now it’s here to stay. The best thing about it is all the people who have benefited from the magazine. All the young people we have encouraged and motivated to be better than what they are. To pursue their dreams and reach for the stars. That is the best part-- giving back to the community and watching those new stars shine. I just want to thank everyone who has supported us over this year and helped us to achieve. From our writers to our supporters and subscribers, I cannot thank you enough. We have so much planned for the future of B.O.S.S., not only as a magazine, but as a company. We want to continue to push education to our youth, as well as entrepreneurship. It’s important that we set the example and move this generation towards a bright future. From conferences to workshops to concerts, we want to become a light of hope to a generation that has a lot to fight through. I would compare the educational struggle to the days of the 60’s. If we, as a black community, don’t do anything to make a change, no one else will. In this issue we have simply highlighted what has happened throughout the year because there has been a lot. Any of these articles or interviews that you are interested in, just click the page and it will take you to the original magazine for you to continue. We hope you enjoy this issue and look forward to serving you in the future. Please continue to support us going forward as we do our best to provide minority and underserved youth with an outlet to discover their potential. I pray that we encourage someone to become a B.O.S.S. Thank you, thank you, thank you. Sincerely, Howard Clay Jr. /Publisher of B.O.S.S. E-Magazine
Howard J. Clay is available for speaking engagements, clinics/seminars, as well as appearances for organizations, corporate and school events. He may be contacted at howard@boss-emag.com for booking.
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ISSUE #10
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“Every man builds his world in his own image. He has the power to choose, but no power to escape the necessity of choice.” ~ Ann Rand
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2012 in Review 11 B.O.S.S. E - Magazine
DAYMOND JOHN
B.O.S.S.: At what age did you know you wanted to become an entrepreneur? Daymond: I wanted to be an entrepreneur at an early age… maybe 6 or 7 years old. But, at the time, I didn’t know it was called “entrepreneurship.” When I knew that I wanted to pursue it [entrepreneurship] as a career and make it a life goal, I was about 16. B.O.S.S.: When did you come to the realization that this was going to be your actual career? Daymond: I would say when I was 33. It really depends on what you want to consider a “career.” I had various jobs-- I had a van service that was not making “money,” but I was making a living from it. Then, in 1989, I started FUBU, but I didn’t get really well known until about 1997. In 1998, I realized that I started making some serious money, but I was also aware that it could end any day. I don’t think we should look at entrepreneurship as “something that is going to make me money…” It being “a challenge” is [how entrepreneurship should be thought of]. B.O.S.S.: Looking back, how do you think your education played a role in your successes? Daymond: …In high school, I was in a co-op program, where I worked one week and went to school the next.
Even though I was just a messenger, the ability to work and go to school, being able to see other people earning a living and interacting with them, along with the discipline I learned from going to work every day was important because it [provided me with] real life experiences. School is helpful when it comes to entrepreneurship, because no matter how much money you make, or how much money you bring in, or how much money you retain, you can only learn about finances, for the most part, through schooling. Compounding interest, percentages and basic business formulas and understanding what your expenditures are and how much you can save, comes from school and educating yourself about your business. B.O.S.S.: Many young people want to obtain success quickly, but you said it took you from ages 17 - 33 before you thought of entrepreneurship as a career. What would you say to young people looking to become an overnight success? Daymond: I know they are young and eager and don’t know any better. When I was 15, I figured I would be a millionaire by 18 or 19. Right around 22, I was working at Red Lobster when my friends started to come home from college. It was then I began to believe that “I wasn’t as smart as I thought I was.” Plus, I was broke. Today, unfortunately, there are too many videos showing that in three and a half minutes you can go from being broke to being in a mansion with the car and the girl or guy… I think Robert [Herjavec] says it the best, “every overnight success takes 15 years.”
I think Robert [Herjavec] says it the best, “every overnight success takes 15 years.”
B.O.S.S.: What motivated you to keep going despite all the rough years? Daymond: That actually was a reality when I said that my friends were coming home from college and I wasn’t as smart as I thought. It was then I decided to stop doing things for money. I started to do something that I really, really loved, which was dressing people. At that time, […] being a young, hip, black, straight, “designer” was never heard of. There was only Karl Kani. While all my guys were trying to be drug dealers and rappers and gangsters, I was out there trying to sell fashion and sell hats! I was actually laughed at, but I realized that was what I really loved and I loved what I was doing. From there, 5 to 6 years later, I started to really make some money. B.O.S.S.: In your own words, how would you define “BOSS”? Daymond: Being a boss, you clearly understand that the “buck stops at you.” You understand that you are not by yourself and that you desperately need other people around you. You can thank a lot of people for your success, but you can only blame yourself for the failures. You need to be up before everyone else and go to bed after them. The idea of you just pointing and telling people what to do-- that’s not reality. You can point and tell people what to do, but you have to be willing to do it yourself. Being a boss, you have to understand that you have a bigger obligation. Understand that people trust you, people depend on you. You are not only responsible for yourself, but responsible for many families. Being a BOSS is understanding that you may not be rewarded for all that you do. B.O.S.S.: You’ve definitely had a lot of success, but what motivates you to help others with what they do? Daymond: I think that I’m a gift of other people’s goodwill. FUBU was built on the backs of so many people believing in a theory, a culture, and a love of something. I was raised around a group of wonderful people like LL Cool J, Russell Simmons, and my partners. They all had a belief in helping others. With regards to giving back, you will gain more than anyone else. I get excited when I see a young person with a new idea and have that sparkle in their eye and I learn something from the experience. It’s an educational process for me as well. I think at the end of the day, I’ve learned way more than anyone else.
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B.O.S.S.: What would be your number one piece of advice you would give a young person seeking your help? Daymond: Understand that it is hard to give just one point… but the number one piece of advice I would give would be to go out and create a business out of something that you would do for free anyway. If you happen to love snowboarding and you take your time looking for snowboards, dressing people for snowboarding, and instructing people, then that is the business you want to be in. If you can’t wait to wake up and do it, whatever business you are passionate about, then you have to do it. If, God forbid, and you don’t make money, you will have a great time doing it! If you’re doing something solely for money, most times, you won’t [be successful] and the rest of the time you will be making the wrong type of money, that you will be paying for the rest of your life.
“Being a BOSS is understanding that you may not be rewarded for all that you do.”
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Derek Anderson Watching Derek on television for many years didn’t even come close to the maturity and humbleness this role model embodies.
Interviewing an Olympic Gold Medalist was truly a great opportunity for us. We will always appreciate Ms. Knight.
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When we started B.O.S.S., Daron was one of the fir view... and like the great person he is, he said “yes� from a platinum person.
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Congrats to Ashthon for being the first woman on the cover of B.O.S.S. E-magaazine! W decision we thought about all she stood for and knew this was a no brainer. Not to ment ful and talented she is!
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me-- which is a hard thing to do! It was special, it gave me the “pick der and work even harder and for that Ms. Melinda, I say thank you.�
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No words can express how we feel about this interview. Tony Gaskins’ month, he retweeted and retweeted and retweeted until he couldn’t an know B.O.S.S. existed, got a chance to learn about what we represent
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’ interview, without a doubt, put us on a national scene, and for that nymore! With his help, Readers from all over the nation who didn’t ted and who we are. Thank you Tony, we are forever in your debt.
“Work hard. Listen. You don’t have to talk all the time...”
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The Hero, The Phenom Theo Ratliff Interview by DrDesha
B.O.S.S.: Tell us a little about your background. Theo: I was raised in a small town, Demopolis, Alabama. It’s a town with only seven thousand people. I grew up in pretty poor conditions where we lived in and out of projects. My mom had her first child when she was eighteen years old and had to leave college to start working. I had a birth defect where I had to get my legs broken at birth and wear braces like Forrest Gump. My mother was always hardworking and very independent.
She raised three boys on her own and all three of us went to college. My mother was a stickler for education. She wanted us to be academically sound in everything we did. When I started playing basketball in seventh grade, I let my grades slip. My mother knew I loved to play, but she was quick to pull me off the team until my grades got better. I made sure to get back in my books and never let that happen again. I learned my lesson! I played basketball well enough in high school to get a scholarship to the University of Wyoming. I ended up playing four years there. I was Player of the Year, All-Time Leading Shot Blocker. I also have the second highest record of blocked shots in the NCAA. B: What have you accomplished so far in your professional career? T: I had the opportunity to get drafted by the Detroit Pistons in 1995. I played there a few years as an unknown player, but always had drive, energy and willingness to do better than the next man. During that time, I volunteered as a Player Representative for the Player’s Union. Coming in as a rookie, I took it very seriously trying to gain
“...if you know your business, you can do better in your business. You will know what to look for and how to take advantage of your situation.”
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knowledge about the business of basketball. From there, I moved on and played for a number of teams. I became an All-Star in the 2001 season and was traded to Atlanta Hawks that year. I ended up breaking my wrist, and I was traded again, but during all that time, I was heavily involved with the Player’s Union. I was involved in three negotiations and I went thirteen years as the Vice President on the board with the Union. I dealt with a lot of the players, contracts and different things on the business side of basketball. I always had the notion
that if you know your business, you can do better in your business. You will know what to look for and how to take advantage of your situation. It was a blessing to be a part of that during those years.
It helped me with a lot of business deals, franchises, and corporations to come in and make success outside of basketball. That was something I always focused on because I knew basketball wouldn’t be something I would be doing my entire career. I ventured into real estate, hotels, and condominiums about six or seven years ago, knowing that this time would come. B: Did you have an entrepreneurial spirit as a child? T: I always wanted to be a businessman. If you run your own business, you run your own money, and you don’t have to answer to someone else. Being in control of my own destiny was always a part of my thought process. Even when I was younger, when I was 6’7”, 170 pounds, not even thinking about the NBA, my goal was to get to college and get an education. Even with basketball, I knew that if I worked hard, then the better I got. I knew I controlled my own destiny to get into the NBA. I took that attitude towards the business side of it. If I continued to groom my mind, continue to listen to other people’s stories, their successes, then I’d be better prepared to make investments. B: What are some of the first things you learned and dealt with as an entrepreneur? T: I looked at everything as a process. I learned about all aspects of the business... from the terms of contracts, to the financial lingo so I would know what it was I was talking about and looking at. I was constantly involved and had a thumbprint on what was happening and where it was going to be. I also learned to always deal with professionals. A lot of athletes get caught up in situations where a “friend” or someone they know got a deal from another person, and they don’t know where it came from. I avoided a lot of those situations by getting people who I was confident in-- lawyers, mentors, or someone who was already having success at what they were doing. I wasn’t a professional at doing business, but a professional at playing basketball. Those successful people could really break it down to me so that I could understand while making deals. My motto is, the more you do things on a consistent basis, the more you’re going to get better at it. That’s how I brought this approach to basketball. I was always smaller than the other guys I was playing with and so, I had to have an advantage. My advantage was my defense ability and speed. I looked at all of my business deals, fed my brain with that information, and then asked my partner, a professional in the field, what their thoughts about it were and what did certain things mean. I was never afraid to ask questions on how things worked. The main key is to have people on your team that have your best interest at heart and are business savvy. B: What are your latest business ventures? T: My new company FUTURE PHENOM is very dear to me because I love kids, I love to see kids smile, and the reactions of kids when they get a FUTURE PHENOM poster. The FUTURE PHENOM poster is where we create custom backgrounds by getting a picture of the kid, and then post the picture of the kid within that background. We do 3-D and 2-D designs with twelve different sports. We are going to be launching in January with a nationwide campaign. We have good responses already. FUTURE PHENOM is also a foundation looking to help people learn how to plan and run events and raise funds for their foundations without it being such a big hassle. A lot of guys in the League have foundations, but they really don’t have the personnel to go out and get grants.
Right now, I actually have a center in my hometown that serves children and families. That was a footprint that I left for that community. In Demopolis, we really didn’t have a place to go outside and play... and it was down south, so it was 100+ degrees in the summer. The Center gives them A/C, a controlled environment, and it gives educational workshops on alcohol, tobacco, HIV/AIDS-- everything. We tried to touch on everything at the Center. The Center and FUTURE PHENOM is not only for profit, but a way to give back to the community, to help the community get better and help athletes. That’s a passion of mine-- to help players to go back and do the right things. I push for players to go to the Union meetings, and really learn about what their business is. If you don’t know the business then they can pull the wool over your eyes, and you end up losing in the end. If you know the business you can better serve the business. Along with FUTURE PHENOM and the Center, I have a children’s book out called “Theo The Hero” to address bullying. Believe it or not, even big kids get bullied, especially when you grow up poor, your pants don’t fit right, you’re wearing high-waters, you’re wearing the same shoes-- you’re getting teased. The book is about how you handle those situations. In the book, I can smash whoever it is that is doing the bullying, at the same time I take the high road, to really understand why it is they are doing what they are doing. I hope to teach kids how to find a solution without resorting to violence. I partnered up with FUBU founder, Daymond John, and UFC Announcer, Bruce Buffer, for the It’s Time Industries casual sports clothing line. The clothing line and the “It’s Time” slogan is popular among UFC fans, but the clothing line is branching out to other sports as well. I am also a part of the Peace Games with Connor Sports. Connor Sports is a company that builds basketball courts. They wanted to start a movement and make a difference in the urban community. So, Connor Sports, along with Isiah Thomas and Father Pfleger, put together a basketball game in an area in Chicago where the most gang violence and drive-bys happen. In the games, they brought four rival gangs in Chicago together along with five of the Chicago Bulls players. The basketball tournament helped the gang members to put the guns down, come together, and get an understanding of the value of lives they were taking. The violence in the community stopped for about eight weeks, and now the number of incidents has dropped drastically. I plan on doing the games nationwide, and in Chile. Overall, I am just trying to be positive and help as many people as possible.
B: What would be one piece of advice you would give to a young person coming to you for help? T: Work hard. Listen. You don’t have to talk all the time. Listen to your parents and your teachers. Teachers won’t steer you wrong, they are there to help you. If you listen to them you can always do great in school and make a friend at the same time. I am friends with all of my teachers, from elementary on up. It’s always a good thing to get to know your teachers and be on a positive note with them.
“...The more you do things on a consistent basis, the more you’re going to get better at it.”
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