The Power of Broke summary

If you’re familiar with the Rocky movies, you know that Rocky’s career falls apart when he lets his success get to his head and starts throwing money around. To get back on top, he realizes that he needs to rediscover his passion and hunger to win.

A similar principle applies to business, as being hungry can keep you focused on your growth and help you stay realistic about what’s within reach.

Some people are born with certain advantages while others start out at a disadvantage – but even if you have to work harder than others just to get on equal footing, don’t let it get you down.

Being at a disadvantage and having few resources is actually a proven a recipe for success.

It may be that not everyone will notice or appreciate your authenticity, but it’s important to stick to your guns nevertheless.

For instance, Acacia Brinley was recognized for her trendsetting Tumblr page, but her posts received a fair amount of negative feedback as well. Even so, the “selfie queen” of social media didn’t let this stop her.

Too many companies have gotten used to the idea of using “other people’s money” to do business. And though the thought of funding might sound appealing, there is such a thing as too much help.

When you consider looking for investors, make sure you don’t risk losing control of your business.

So far, we’ve seen how the Power of Broke can be applied to give hungry and focused entrepreneurs a leg up in the business world – but these same principles can be used by the major players as well.

After all, most big corporations started out as small businesses, and they should all continue to use the same strategies that got them to where they are today.

Coca-Cola has been around so long that you can be forgiven for thinking it’s always been a success. But like any other global brand, it had to start somewhere.

It’s possible to pinpoint four different phases that you need to get through patiently before your brand can go global.

These days, remarkable technological advances are a seemingly everyday occurrence. It’s a great time for small businesses because it’s easier than ever for them to get the funding they need.

For starters, the cost of technology is extremely low.