Good grooming is integral and impeccable style is a must. If you don't look the part, no one will want to give you time or money.
I'm a big advocate of financial intelligence.
Every problem can be solved as long as they use common sense and apply the right research and techniques.
Five days a week, I read my goals before I go to sleep and when I wake up. There are 10 goals around health, family and business with expiration dates, and I update them every six months.
I believe the last thing I read at night will likely manifest when I'm sleeping. You become what you think about the most.
Mentors, by far, are the most important aspects of businesses.
I'm the kind of person that when I saw a lack of African Americans in the apparel business, that was something I set out to do, and I lead by example.
The only thing that scares me in the tech area is that it moves so fast that you have to be ready to invest in 20 things. Because if you just invest in one, next week, somebody has a better mousetrap, and you get taken to the cleaners.
My parents always taught me that my day job would never make me rich; it'd be my homework.
In my mind, there are too many copycat web products out there that are doing the same thing.
I like to look at things that have been developed and re-developed over the course of time so I know the bugs are worked out of it. And in the business itself, I like to look at sales, by far. I want to see that there is a vetted track record of sales to show the price point has worked.
I've failed way more than I've succeeded.
I never knew anything other than wanting to be an entrepreneur. I tried my first business when I was 6 years old, and I started another business when I was 8. I don't think I knew anything besides that.
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!
In the founders, I look for a person I feel is trustworthy, driven and smart. I invest in the person first, because in the event the business fails, the person and I can move forward and create another business.
Learn as many mistakes and what not to do while your business or product is small. Don't be in such a hurry to grow your brand. Make sure that you and the market can sustain any bumps that may occur down the road.
There really is no shortcut just because you have a name, or you have some kind of access or some way you can solve all the problems. And I think one of the things I learned with FUBU, you have to understand that there's really only two ways of operating a business: more sales, or lower overhead.
I had a little delivery van, and I did work around Queens. I was also a waiter at Red Lobster, so I was working on the business in between jobs.
When you have a large amount of the workforce being laid off, some of them have no other choice but to go out there and invent something.
I don't care if you're my brother - if we go play football, I'm gonna try to crack your head open. It doesn't mean that I don't love you. It doesn't mean that I don't respect you.
