Daymond John, of ABC’s Shark Tank and founder of the iconic FUBU clothing brand, is stepping even further into the world of startups. On Tuesday, John told Inc. that he is in the early stages of researching and developing an incubator program.1 Though the exact focus and niche of the program has yet to be decided, John told Inc. that opening a program is a certainty:
I know I’m going to do it, I’m just not certain if it’s going to be an incubator for kids with learning disabilities, like dyslexia or attention deficit disorder, or something else…I want it to be a little different in regards to the angle.2
John, through Shark Tank and other avenues, has noted that mentorship is one of the most important factors in the success of individuals and businesses alike. It is one thing to have a product, but it is an altogether different thing to turn that into success. This is the value that John provides to his portfolio companies and partners. In a way, John can be seen as an executive, of sorts. It is his mastery of this role that makes Daymond John the ideal head of an incubator.
Think about it like this. Executives, be it within a company, within a government, or within some other civil organization, are in a constant battle against time. As such, these executives – at least the successful ones – are often among the most adept managers of people, and have a deep knowledge of their employees’ skill sets. This deep knowledge of the company and its people make executives, like Daymond John, excellent at connecting people and delegating tasks. Rather than trying to perform every task within a company, the successful executive knows exactly who within the company is best suited for each task. Think about the President. Does Obama personally negotiate bilateral trade agreements, or manage the Department of Energy, or research the economic implications of the Federal Reserve raising the interest rate by .01%? No. But he knows exactly who should.
Top image via Facebook