In today’s episode, we explore the life and business acumen of a man who scaled from the very bottom of society to the very top. A man who went from homeless to billionaire – John Paul Dejoria.
Dejoria, co-founder of Paul Mitchell Systems and Patron Spirits, amassed a fortune valued at $5.1 billion. Today, we break down seven key lessons we can learn from his rise to success:
1. Don’t Focus on the Past: Dejoria emphasizes the importance of focusing on the future and not getting caught up in past failures. Everyone makes mistakes, but it’s crucial to learn from them and move forward.
2. Build a Quality Product/Service: No business can survive without a product or service that its customers love. Dejoria made sure his companies always offered top-notch products and services.
3. Focus on Reorder: The sustainability of a business often lies in the reorder, not just the initial order. Dejoria understood that to build a successful company, he needed customers who would come back time and time again.
4. Accept Rejections: Rejections are a part of every entrepreneur’s journey. Dejoria faced many rejections in his life, but he never let them deter him from his path.
5. Reinvest in Business: It’s essential to continually invest in your business for growth. Dejoria didn’t just hoard his profits; he reinvested them, leading to further expansion and success.
6.Train Your Associates Well: An efficient, knowledgeable, and motivated team is invaluable. Dejoria knew that well-trained associates were key to building a thriving business.
7. Stay Happy and Healthy: Physical and mental health plays a vital role in achieving success. Dejoria always prioritized his well-being to keep himself at the top of his game.
Bonus Tip – The Definition of Success: According to Dejoria, success isn’t just about making money. It is about how good you do what you do when no one is looking. It is also about giving away to make this world a better place.
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We’ll be back on Friday with another exciting episode.
Till then, take care and keep learning! 🙏