{"id":1211,"date":"2011-07-01T13:36:57","date_gmt":"2011-07-01T20:36:57","guid":{"rendered":"http:\/\/salonmonster.com\/blog\/?p=1211"},"modified":"2012-01-04T20:11:39","modified_gmt":"2012-01-05T04:11:39","slug":"paul-mitchells-john-paul-dejoria-from-homeless-to-billionaire","status":"publish","type":"post","link":"https:\/\/salonmonster.com\/blog\/paul-mitchells-john-paul-dejoria-from-homeless-to-billionaire\/","title":{"rendered":"Paul Mitchell’s John Paul DeJoria: From Homeless to Billionaire"},"content":{"rendered":"

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I came across an interesting Executive Street article <\/a>this week about John Paul DeJoria one of the co-founders and CEO of John Paul Mitchell Systems<\/a>.\u00a0 I never realized quite what a rags to riches story he had and thought it was such a great inspiration and a great example of how you don’t need a strong economy to found an enduring economy.<\/p>\n

\"\"<\/a><\/p>\n

When John Paul DeJoria and Paul Mitchell founded the company in 1980 the economy was much worse condition than it is today.\u00a0 Inflation was at 12% and interest rates were around 18%!<\/p>\n

When their financial backer reneged on a $500,000.00 investment JP had to resort to living out of his car with his son and collecting cans and bottles to pay for food.\u00a0 He was able to borrow a whopping $350.00 to match the $350.00 that Paul Mitchell had, they invested it in founding the company and the rest is history.\u00a0 Now he is the 66th richest man in America with a net worth of $4.6 billion.<\/p>\n

He has some great tips for business founders:<\/p>\n

1) Be prepared for rejection and don’t give up, just keep on going.<\/p>\n

2) Do all the things unsuccessful people don’t want to do: work late, work weekends and make sure your product is of the highest possible quality.<\/p>\n

3) Focus on how to survive right now and get to the next step.<\/p>\n

4) Believe in yourself and your product and tell people about it!<\/p>\n","protected":false},"excerpt":{"rendered":"

I came across an interesting Executive Street article this week about John Paul DeJoria one of the co-founders and CEO of John Paul Mitchell Systems.\u00a0 I never realized quite what a rags to riches story he had and thought it was such a great inspiration and a great example of how you don’t need a … Read more<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,195],"tags":[250,252,253,249,251],"class_list":["post-1211","post","type-post","status-publish","format-standard","hentry","category-business","category-inspiration","tag-1980s","tag-billionaire","tag-homeless","tag-paul-mitchell","tag-products-2","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"_links":{"self":[{"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/posts\/1211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/comments?post=1211"}],"version-history":[{"count":4,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/posts\/1211\/revisions"}],"predecessor-version":[{"id":1216,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/posts\/1211\/revisions\/1216"}],"wp:attachment":[{"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/media?parent=1211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/categories?post=1211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/salonmonster.com\/blog\/wp-json\/wp\/v2\/tags?post=1211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}