Summary of The Power of Broke: by Daymond John with Daniel Paisner | Includes Analysis

By . IRB Media

Inside this Instaread Summary of The Power of Broke

· Overview of the book

· Important People

· Key Takeaways

· Analysis of Key Takeaways

• Language: English
• Publisher: IRB Media
• Release date: Mar 13, 2016
• ISBN: 9781945048197

. IRB Media

With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Overview

The Power of Broke emphasizes that money does not make the entrepreneur. Successful businesspeople seek creative solutions and are able to resolve challenges without simply buying their way out of them.

The Internet has democratized the retail experience. Today, a business or an entrepreneur does not need to find a big-box buyer or a major investor to get their idea into the hands of the customer. With free outlets such as social media at their disposal, entrepreneurs can gain market awareness without spending a single penny on television ads or billboards. But this new ability to reach the consumer directly has led to a horde of competing entrepreneurs and a high failure rate. Understanding how to use today’s democratized retail ecosystem to succeed is a matter of effectively harnessing the power of broke.

The right business decisions are often not the costliest. An entrepreneur who is hungry for success and has the broke mindset will pursue the creative option, not the easiest one, which can often be more expensive and less effective. These types of do-or-die behaviors can ultimately lead to a company being innovative and successful in the long