Shark Tank investor Daymond John shares tips for turning preparation into long-term momentum in business

Shark Tank investor and entrepreneur Daymond John has shared a series of business preparation strategies via an Instagram post. Drawing from his experience building FUBU into a global brand, John has outlined practical steps that aspiring entrepreneurs can take before launching a venture.

His post, uploaded on May 12, 2025, emphasizes the importance of early groundwork in establishing long-term business momentum. By focusing on goals, research, adaptability, and resourcefulness, John provides a framework designed to support sustainable growth from the outset. He also reflects on the foundational elements he applied in his journey.

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Key tips for preparation in business from Shark Tank's Daymond John

In his post, Daymond John points out some of the major tips that he feels are the building blocks to creating business momentum. He emphasizes that success starts long before a business is even opened, beginning with careful planning and goal-setting.

1) Know your goals

According to his post, he urges having specific goals before embarking on any business. Knowing what an entrepreneur wants to do gives direction to the work ahead.

2) Your initial concept doesn't need to be ideal

In the opinion of the Shark Tank investor, initial ideas might not be ideal, but they are the beginning. They should be developed and tweaked as per feedback and experiences.

3) Research is key

Information is the building block of success, and John recommends extensive research to know about one's business space, competitors, and potential clientele.

4) Leverage the power of broke

Taking a cue from his own history of limited budgets in the early years of his career, the Shark Tank investor suggests utilizing a shortage of money as an incentive to think creatively and make do.

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The story behind FUBU's rise, decline, and comeback

FUBU was co-founded by Shark Tank star Daymond John and three partners from Hollis, Queens in 1992. Based on FUBU and John's official websites, it emerged as a revolutionary brand in the streetwear market. The "For Us, By Us" philosophy of the label connected with inner-city youth, and its success was driven by its niche positioning in the marketplace.

Early celebrity endorsements, including LL Cool J, helped to establish the brand popularity. FUBU reached households after LL Cool J wore a FUBU hat in a Gap commercial, which boosted brand exposure significantly.

The company grew very fast with strategic alliances. FUBU reached an agreement with Samsung in 1995, and the agreement financed the company's infrastructure and fashion financing. As reported by Daily Finance in July 2010, FUBU achieved five-year sales of $200 million in 2009 as a result of this alliance.

Not long afterwards, FUBU partnered with the NBA in a licensing deal to make the FUBU NBA line, capitalizing on the intersection of basketball and hip-hop fashion. This collaboration was in sync with the rising trend of basketball players wearing street clothing on the court.

According to Daymond John's website, FUBU faltered during the early 2000s. Overstocking within the American market reduced the brand to clearance racks and discount retailers, affecting its bottom line. In a bid to halt these misfortunes, FUBU channeled its efforts into overseas markets, namely in Europe and Asia, where the firm continued to thrive.

By 2020, FUBU decided to return to the U.S. market. The firm wanted to reconnect with its initial consumers, most of whom had become older but still maintained a preference for hip-hop culture and street fashion.

Moreover, the brand aimed to get the attention of Gen Z, a generation raised amidst hip-hop culture. FUBU's comeback to the U.S. market blended its vintage designs with modern styles, making the brand relevant in a fast-evolving fashion world.

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Shark Tank premieres on ABC every Friday at 8 PM ET and is available for streaming on Hulu the next day.