John Paul DeJoria: Business Lessons That Turned a $700 Startup Into Billion-Dollar Brands | Entrepreneurship | E407
episode
Young and Profiting (YAP) with Hala Taha: Entrepreneurship and Self-Improvement Podcast
1h 19m
2 speakers
5 chapters
transcribed 2 months ago
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What is the main topic discussed in this episode?
Today's episode is sponsored in part by Shopify, Indeed, AT&T Business, Northwest Registered Agent, Mindstone, and Quince. Shopify is the global commerce platform that helps you grow your business. Start your $1 per month trial at shopify.com slash profiting. Indeed helps you attract, interview, and hire all in one place. Get a $75 sponsored job credit to boost your job's visibility at indeed.com slash podcast. AT&T Business delivers reliable business-grade connectivity that gives your team a competitive edge. Switch to AT&T Business at business.att.com. Northwest Registered Agent gives you the tools and guidance you need to build a complete business identity. Visit northwestregisteredagent.com slash yap free and start using free resources to build something amazing.
MindStone helps ambitious professionals master practical AI skills without the complexity. Get 10% off their four-week AI competency program at experience.mindstone.com slash yap. Quince makes your summer wardrobe feel easier with elevated essentials at radically low prices. Go to quince.com slash profiting for free shipping on your order and 365-day returns. As always, you can find all of our incredible deals in the show notes or at youngandprofiting.com slash deals. Don't go into the selling business, go into the reorder business. When people put a product together, many times they'll do it to sell. Do it so it's so darn good or your service is so darn good that they'll tell other people about it.
I'm sitting down in person with billionaire entrepreneur and philanthropist, John Paul Giorgia.
How did John Paul DeJoria’s childhood and early hardships shape his entrepreneurial mindset?
You might know him as co-founder of Paul Mitchell Hair Care Products and Patron Tequila. But what you may not know is that JP was homeless and living out of his car before building not one, but $2 billion brands. When I started Paul Mitchell, we started with $700. How do you start a company like that with no money and get money? And I'll gladly share that with you. Number one is... You had lots of sales jobs before you actually started your own company. Talk to us about what you learned with door-to-door sales. you're gonna get rejections in life. As long as you know you're gonna get rejections, don't let it affect you. Like if the first 50 doors were closed on you, whether it's politely or not so politely, you gotta be just enthusiastic.
The big difference is successful people do all the things unsuccessful people don't want to do. Influencer marketing is so popular now. What is the danger behind a product where you've got to put so much marketing dollars behind it in order to get sales? Well, there is danger because JP, welcome to Young and Profiting Podcast. Well, Hala, thank you. It's a pleasure being with you. I've heard a lot about you and how you help people out in such a great way and disseminate just great positive words that make the planet a better place to live. Good for you. I'm happy to be here with you. You're so sweet. You're known to be such a kind, generous man. But something that people may not know is that you actually grew up
Very poor. That's correct. And you've got this, like, incredible rags-to-riches story. Now you're a billionaire. You've sold $2 billion companies. But you actually grew up really poor in Echo Park. And your mother taught you a lot about money and what it really means to be wealthy. And I wouldn't say we grew up poor because we had so many riches from my mother. And we didn't know we didn't have any. I would say we grew up without any money. Exactly. In a very poor part of town there. But no, you are right. My mother was wonderful. We had a deadbeat dad. So at two years old, he kind of left the family, you know, and no money, no nothing. And my mom had it really, really difficult. In fact, even for about four years, when she had some medical problems, my brother and I were in foster care.
But we were the lucky kids because every weekend or every other weekend, we'd be able to come home with mom. And a lot of the kids we were with, no one ever visited them. them, you know, other than maybe at Christmas time.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–1:40
2
How did John Paul DeJoria’s childhood and early hardships shape his entrepreneurial mindset?
1:40–23:12
3
What survival lessons did JP learn from homelessness and living out of his car?
23:12–1:01:48
4
What sales lessons did JP learn from door-to-door encyclopedia selling?
1:01:48–1:13:52
5
How did John Paul and Paul Mitchell launch the company with only $700?
1:13:52–1:19:36
Speakers
2 identifiedMore from Young and Profiting (YAP) with Hala Taha: Entrepreneurship and Self-Improvement Podcast
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