Shark Tank's Daymond John visits the NYSE for the 94th annual tree lighting. He stops by Cheddar to discuss his favorite deals from the year and the best business advice he's ever received. John says that when an entrepreneur pitches on Shark Tank, he looks for someone who would work on their idea and company without being paid. He values passion and determination and uses that as an indicator of success. "They tell us about all the mistakes they made, they have a passion about it," he tells Cheddar. "I feel like the train is gonna leave whether I'm on it or not. They know their customer very well, so they're not using my money as tuition....and I have to like the person." John looked back on some of his Shark Tank deals. He explains his decision behind his deal with Moziah Bridges of Mo's Bows. Initially, Moziah pitched the Sharks on $50,000 in exchange for 20%. John came back and told him not to take any money, and instead to accept his offer of mentorship. John explained to Cheddar that he received a similar offer when he was starting his clothing company, FUBU, and it proved to be incredibly helpful and lucrative.

Share:
More In Business
Elon Musk Defiantly Defends Himself in Tesla Tweet Trial
Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted.
The Carbon Footprint Of Your 401k
David Brooks, financial advisor and CEO of Retire Smart, joined Cheddar News to discuss some of the mutual funds in your 401k whose portfolios include companies that can contribute to climate change. Investment vehicles to combat climate change or fight for social justice are available to choose from and are becoming popular inside the retirement workplace plans.
Load More