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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.
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.
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.
John Paul DeJoria has become of the most successful rags to riches stories in the world. From being homeless and working a variety of jobs, he’s gone on to become a billionaire who runs numerous successful business. But how did he pull off such a feat of resilience and tenacity? Here we explore the amazing story of John Paul DeJoria.
John Paul DeJoria’s Early Struggles
John Paul DeJoria was born in 1944 in Los Angeles, California. His family was of mixed Greek and Italian ethnicity, and struggled to support him in his early life. His father left when John Paul was two, making life for his family even more challenging. At nine years old he was selling newspapers headline door-to-door to make some extra money. Then at just ten years old, DeJoria and his brother moved out of the family home, leaving him homeless and homeless.
John Paul DeJoria’s Road to Becoming a Billionaire
Through sheer determination and hard work, John Paul DeJoria began to turn his life around. He found a job as a door-to-door salesman and worked his way up to become a successful entrepreneur. By the early 1980s, DeJoria had started his own business, the tequila brand, Patrón. He was able to make the most of the new opportunities presented to him and quickly become financially successful. Then he acquired Paul Mitchell hair products, which catapulted him to the Forbes 400 list.
Frequently Asked Questions About John Paul DeJoria Was Homeless And Now He Is A Billionaire. How?
- How did John Paul DeJoria become a billionaire?
John Paul DeJoria became a billionaire by using his tenacity and determination to find success in his ventures. He started his own businesses and was able to capitalize on new opportunities to increase his wealth. - What was John Paul DeJoria’s most successful business venture?
John Paul DeJoria’s most successful business venture was his tequila brand, Patrón. It was a personal favorite of celebrities and became one of the most successful tequila brands in the world.
- How did John Paul DeJoria become famous?
John Paul DeJoria became famous due to his immense success story. He was able to go from being homeless to a billionaire, making him an inspiring example of the importance of hard work and tenacity.
Summary
John Paul DeJoria was born into a struggling family, leaving him homeless at the age of 10. Instead of succumbing to his circumstances, he persevered, using hard work to pull himself out of destitution. His success with his business ventures, specifically Patrón, enabled him to make it to the Forbes 400 list and eventually become a billionaire. His story of resilience and determination is a shining example of what it takes to pull yourself up from nothing and his success serves as a source of inspiration for others who may be struggling in a similar situation.