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A gang member turned door to door encyclopedia salesman gets fired from corporate life.
He goes on to launch 2 world renowned brands.
The best part?
He started the first one with $700.
This is the wild story 👇🏽👇🏽👇🏽
He goes on to launch 2 world renowned brands.
The best part?
He started the first one with $700.
This is the wild story 👇🏽👇🏽👇🏽
1/ John Paul DeJoria was born into a poor family in downtown LA.
His mother scrimped and saved to keep him and his brother fed.
Wanting to help out, by 11 he had a paper route.
But his desire to push the limits got him in trouble...
His mother scrimped and saved to keep him and his brother fed.
Wanting to help out, by 11 he had a paper route.
But his desire to push the limits got him in trouble...
2/ He joined a street gang.
After a violent encounter, he wanted out.
JP put his head down and graduated early at 17.
But now what?
He was smart but way too poor for college...
After a violent encounter, he wanted out.
JP put his head down and graduated early at 17.
But now what?
He was smart but way too poor for college...
3/ The Navy was his answer.
It gave him discipline to combine with smarts.
After a few jobs, he fell in love with something most people hate: selling encyclopedias!
"The average life of an encyclopedia salesman was 3 days, but I did it for 3 years!...
It gave him discipline to combine with smarts.
After a few jobs, he fell in love with something most people hate: selling encyclopedias!
"The average life of an encyclopedia salesman was 3 days, but I did it for 3 years!...
4/ If it existed today I would make every one of my kids do it."
Knowing he was a great salesperson, he looked for a fast growing industry.
He went to a growth industry at that time...
Knowing he was a great salesperson, he looked for a fast growing industry.
He went to a growth industry at that time...
5/ Beauty supplies.
Within 2 years, he was national manager for 2 divisions of a fast growing beauty company.
People told him he'd never be a VP though without a college degree
After his best year ever, he entered the CEO's office. Expecting the VP spot, he was instead FIRED.
Within 2 years, he was national manager for 2 divisions of a fast growing beauty company.
People told him he'd never be a VP though without a college degree
After his best year ever, he entered the CEO's office. Expecting the VP spot, he was instead FIRED.
6/ His divisions were doing great, but "he didn't fit the company culture."
He left and went to train a competitors sales force.
They grew by 50% in under a year, but again he got fired for not fitting the culture.
The third time, it was because of his uncapped commission...
He left and went to train a competitors sales force.
They grew by 50% in under a year, but again he got fired for not fitting the culture.
The third time, it was because of his uncapped commission...
7/ JP realized that if he was going to make it big, it would have to be on his own.
He became a consultant, but the clients were too small to pay well.
He needed a product business, but didn't have any skills to make one...
He became a consultant, but the clients were too small to pay well.
He needed a product business, but didn't have any skills to make one...
8/ Around 1980, his friend Paul Mitchell was struggling to launch his new hair product line... It flopped.
John Paul convinced Paul to start a professional line with JP leading sales.
They would each own 30% of John Paul Mitchell systems, and their investor would own the rest.
John Paul convinced Paul to start a professional line with JP leading sales.
They would each own 30% of John Paul Mitchell systems, and their investor would own the rest.
9/ Just before the deal closed, the investor pulled out.
Between them, John Paul and Paul Mitchell had $700 for the business.
JP had just divorced, and gave his ex-wife everything. He was sleeping in his car.
But he was undeterred...
Between them, John Paul and Paul Mitchell had $700 for the business.
JP had just divorced, and gave his ex-wife everything. He was sleeping in his car.
But he was undeterred...
10/ John Paul went door to door selling Paul Mitchell to salons.
It took 2 years until they stopped living check to check.
By 1983, they did $1M in sales. JP was elated, but far from done…
It took 2 years until they stopped living check to check.
By 1983, they did $1M in sales. JP was elated, but far from done…
11/ In 1986, the company had 100xd to o over $100M in sales.
Remember, this was pre internet and with no outside capital 🤯
Paul Mitchell had become the #1 with pro hair stylists.
In 1989, JP was on cloud 9 from a recent Vogue feature when he got the WORST call imaginable…
Remember, this was pre internet and with no outside capital 🤯
Paul Mitchell had become the #1 with pro hair stylists.
In 1989, JP was on cloud 9 from a recent Vogue feature when he got the WORST call imaginable…
12/
Paul Mitchell was dead.
JP was Devastated.
Over the next year, he couldn’t stand to run the business without his friend.
He stepped back from the day to day.
After a few months, he threw himself into a new venture...
Paul Mitchell was dead.
JP was Devastated.
Over the next year, he couldn’t stand to run the business without his friend.
He stepped back from the day to day.
After a few months, he threw himself into a new venture...
13/ Ultra Premium Tequila.
Patrón debuted in 1990, but Clint Eastwood made it a household name in 1993.
They were just getting started...
Patrón debuted in 1990, but Clint Eastwood made it a household name in 1993.
They were just getting started...
14/ John Paul was determined to make the Patrón the biggest and best tequila in the world.
It was a slow burn at first, by 2000 they only sold 100K cases a year.
By 2012, it was at over 2MM cases/year. Still $39/bottle, but no longer the only tequila at that price.
It was a slow burn at first, by 2000 they only sold 100K cases a year.
By 2012, it was at over 2MM cases/year. Still $39/bottle, but no longer the only tequila at that price.
15/ Doubling down on his sales skills, John Paul put Patrón everywhere in Hollywood.
They got featured in 100s of songs, TV shows, and movies.
It's was salesmanship at scale - influencer deals before we called celebrities influencers.
They got featured in 100s of songs, TV shows, and movies.
It's was salesmanship at scale - influencer deals before we called celebrities influencers.
16/ Starting many more businesses over the years, he's maintained a powerful work ethic.
His number one tip:
"Successful people do all the things unsuccessful people don't want to do.
Always do the best you can, not the least you can get away with."
His number one tip:
"Successful people do all the things unsuccessful people don't want to do.
Always do the best you can, not the least you can get away with."
17/ Broke, homeless, with just a case of product - a relentless salesman built 2 amazing brands
He sold his 70% stake in Patrón at a $5.1B valuation in 2018
JP still holds onto the $900MM+ John Paul Mitchell Systems, now led by his daughter and Paul's son
How inspiring.
He sold his 70% stake in Patrón at a $5.1B valuation in 2018
JP still holds onto the $900MM+ John Paul Mitchell Systems, now led by his daughter and Paul's son
How inspiring.
18/Sources:
www.forbes.com/sites/noahkirsch/2018/01/22/bacardi-to-acquire-patron-tequila-for-5-1-billion-billiona...
www.forbes.com/sites/stevenbertoni/2020/07/14/covid-19-put-billionaire-john-paul-dejorias-hair-care-e...
www.businessinsider.com/john-paul-dejoria-billionaire-entrepreneur-2015-4
www.youtube.com/watch?v=ZaOoEbNPsVM
www.forbes.com/sites/noahkirsch/2018/01/22/bacardi-to-acquire-patron-tequila-for-5-1-billion-billiona...
www.forbes.com/sites/stevenbertoni/2020/07/14/covid-19-put-billionaire-john-paul-dejorias-hair-care-e...
www.businessinsider.com/john-paul-dejoria-billionaire-entrepreneur-2015-4
www.youtube.com/watch?v=ZaOoEbNPsVM
19/ Why I love this story, it’s a reminder that:
1) Hard work DOES matter
2) Sales cures everything
3) Product + Sales = Unstoppable
4) Do things others don't want to
5) Billionaires can be kind
bonus) the initials JP are awesome :P
And that anyone can do it…
1) Hard work DOES matter
2) Sales cures everything
3) Product + Sales = Unstoppable
4) Do things others don't want to
5) Billionaires can be kind
bonus) the initials JP are awesome :P
And that anyone can do it…
20/ If you enjoyed this thread, follow me @jspujji
I've bootstrapped multiple 8 figure businesses, grew Ampush to $400,000,000+/yr in FB spend, and run a venture studio launching a profitable company every quarter.
I tweet Bootstrapped Giants stories and entrepreneurial lessons
I've bootstrapped multiple 8 figure businesses, grew Ampush to $400,000,000+/yr in FB spend, and run a venture studio launching a profitable company every quarter.
I tweet Bootstrapped Giants stories and entrepreneurial lessons
Fun Fact: John Paul is one of the wealthiest "sharks" to appear on Shark Tank!
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Nicolas Cole @Nicolascole77
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Jan 28, 2022
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