The Power of Being Broke

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In today’s post, I’ll be sharing with you the power of being broke. I’m currently reading the book “The Power of Broke” by Daymond John, and have taken notes which I’ll be sharing with you in this post.

When you’re up against all odds, when you’ve exhausted every opportunity, when you’re down to your last dime… that’s when you’ve got no choice but to succeed. Take a shot at your destiny and remember that you miss 100% of the shots you don’t take.

You’ve got everything to gain when you have nothing to lose. Sometimes it takes having your back against the wall, having to use your last dollar, and having no place to go but up if you expect something to happen. Because if you’ve got to succeed to survive, you will.

Rise and grind. There is tremendous power in these 3 simple words – the power to do anything, to get past anything, to become anything. They remind you that the choice of whether to succeed – or not – is all yours.

Stay hungry. There’s great value in being true to yourself. It helps to have your back against the wall when you’re starting out. It helps to be up against it. It helps to have to scrape, hustle and dream your way to the top. It helps to have a passion for your pursuit, especially when passion is the only resource you can afford. It helps you to realize your dream because it forces you to keep that dream real. It helps to be so hungry you have no other choice but to succeed.

There’s immense power in being broke. The more you need to succeed, the more likely it is that you will succeed.

There’s great power in having to scrape and scramble. If you let broke beat you down, if you let it break you, you’ll never find a way to thrive or even survive. You’ll never lift yourself up and out and on to great things. But if you look broke in the face, if you define it, own it, make it a part of who you are and how you go about your business, then you’ve got something.

If you’re dealt a lousy hand, you can find a way to play it in a winning way. Being broke can actually be an advantage for you because it forces you to be aggressive, creative and resourceful.

Adversity isn’t necessarily a bad thing. Being broke can be like a godsend, if you find a way to harness the power of broke and use it to your advantage. If your back is against the wall, the only direction is up and forward. Make the most of whatever resources you have. Dig deep and stay focused and go at life hard. Rise and grind.

It’s how you approach your situation, and what you do to make the best of your situation, that makes all the difference.

Think big. Always. No matter what.

The power of broke keeps us from making the easy decisions that come back to bite us.

You don’t need a whole lot of resources to change your life. Sometimes everything you need is right in the smart phone you hold in your hands.

Just as being broke can be a great equalizer, feeling broken can be a great motivator. When you’re down on yourself, when you’re feeling boxed in, when your life isn’t exactly firing on all cylinders… that’s when a lot of innovators reach for that little extra something and just go for it. They get it in their head that they won’t be denied. They kick things up a notch and find a way to shine through.

In your quest for living out your dreams, you’ve got to ignore your haters and keep doing your thing. If you take the bait and respond to all the negative comments about you, you’ll come off looking just as bad as your haters. Take the high road.

Try, fail, try again, fail better. This has to be your mantra.

Failure is part of the process. It’s an opportunity to start over again more wisely.

Everything you need to know is out there. Tap into it. Learn your business or industry, top to bottom.

If you don’t have a lot of money, reach out to someone in a position to help you and ask him or her to mentor you.

Believe in yourself, invest in yourself, and maybe you can convince others to invest in you. Believe in what you do, what you make, what you put out into the world, and good things will come back to you.

Broke can break you, or it can give you immense energy. if you’re someone who’s wired in a way that you just refuse to lose, it can give you the fuel you need to push through.

The biggest lessons

Adversity can become fuel.
Having limited resources can force you to become more creative, resourceful, aggressive, and disciplined. Your circumstances don’t have to determine your future.
Your response matters more than your situation.
You may not control the hand you’re dealt, but you control how you play it. A difficult season can either defeat you or develop you.
Desperation can create determination.
When failure isn’t an option, people often discover capabilities they didn’t know they had. Pressure can reveal another level of commitment.
Start with what you have.
You don’t necessarily need money, connections, or perfect circumstances. Sometimes the resources you already possess—your phone, knowledge, relationships, skills, creativity, and time—are enough to begin.
Stay hungry.
Hunger creates movement. When you deeply want something and refuse to accept defeat, you’re more likely to keep learning, experimenting, adapting, and trying again.
Failure is feedback.
“Try, fail, try again, fail better” captures an important entrepreneurial principle: failure isn’t the opposite of success; it can be part of the path toward it.
Become extremely resourceful.
If you don’t know something, learn it. If you don’t have money, find another resource. If you don’t have connections, build relationships. If you don’t have experience, start accumulating it.
Ignore the noise.
Haters, critics, and negative comments can become distractions. Don’t allow other people’s opinions to pull you away from your mission.
Invest in yourself.
Believe in what you’re building enough to develop your skills, knowledge, character, and ability to create value.
Think big regardless of your current circumstances.
Being broke is a circumstance—not an identity. Being behind is a season—not a destiny.