John Paul DeJoria Was Homeless And Now He Is A Billionaire. How?
According to FORBES, DeJoria, 73, has a net worth of $3.1 billion, although he has been homeless and lived out of his car twice. In 1980, the one-time door-to-door shampoo and encyclopedia salesman teamed up with Paul Mitchell, and the two transformed $700 into what would become John Paul Mitchell Systems, one of the world’s most lucrative hair care enterprises. Mitchell died of cancer shortly after their firm took off, and DeJoria took control. The firm is still going well, with a projected yearly sales of $1 billion.
So, how did DeJoria keep motivated while building such a vast empire? He claims to have followed three guidelines on his way to success.
1. Always be prepared for rejection
You will suffer rejection throughout your career, according to DeJoria. “You’ll knock on doors, and many will close in your face. Some people will despise your product, your company, or even you.” You must comprehend this from the beginning of your company. “To be successful, you must be as confident and enthusiastic on door No. 59 as you were on door No. 1.” If you know you’re going to be rejected, it won’t be as unpleasant. It will make you more robust, he claims.
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2. Ensure that your product or service is the finest it can be
Always keep in mind that you don’t want to work in the product sector, says DeJoria. You desire to work in the rearranging industry. As he puts it, “work hard to provide a world-class product that people demand.” Your chances of success rise as a result of that style of thinking.
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3. You are doing good for both you and your business
“If a company wants to be in business, it can’t only focus on today’s bottom line,” DeJoria argues. It must make a firm commitment to assist others right now. “By assisting others, you create future consumers and inspire staff loyalty,” he says. “Customers want to be connected with individuals and businesses who volunteer their time to assist others, conserve the environment, and make a difference.”
DeJoria demonstrates this concept by stating that since founding Paul Mitchell in 1980, his total staff turnover has been fewer than 100, with two employees retiring.
