June 26, 2020
Daymond John Talks Diversity in Business
The Shark Tank star shares meaningful actions business leaders can take.
As the CEO of uber-popular fashion brand FUBU, Daymond John understands what many business leaders are going through right now. With the charged environment we’re all living in, employers are trying to determine the best ways to address racial inequality in their companies and communities. It all starts by having a conversation, John says, which the Shark Tank star has already done with his employees.
“Let your staff openly discuss what’s going on,” John said during the latest Keppler Coffee Break, a series of 30-minute virtual speaker events. “Find out how your staff that are of color feels. Those who aren’t of color want to get involved, but they may not want to ask uncomfortable questions.”
John recalled an instance of two colleagues of different races sitting next to each other for 10 years. The Black worker mentioned that she was scared because her son is 16 years old and just started driving. She said she worries every night because “I never know if I’m going to see him again.” According to John, her co-worker didn’t realize the burden she was carrying and vowed to fight such injustice by her side. “It all starts from having a conversation,” John reiterated.
Like thousands of Americans who look like me, I’ve been profiled time and time again in stores.
— Daymond John (@TheSharkDaymond) June 10, 2020
Although it’s a frustrating and humiliating experience, it’s an easy fix: Don’t spend money where you don’t feel respected. pic.twitter.com/bHXBe11IVe
For business leaders to change their own companies, John said, they must understand the presence of systemic racism. “Entrepreneurs see a problem and do homework on the origin of the problem and how to solve it,” he said. “The same thing applies to systemic racism. You have to do your homework and understand things before you can make any adjustments.”
In terms of improving hiring practices, John mentioned how he benefited from amazing mentors of all different backgrounds and how any company can benefit from diverse viewpoints and talents. “From the beginning, I’ve felt a responsibility to give people a chance,” he said. “Probably 80% of my staff started as interns. You’re going to get more value and more creativity from different parties looking at things in a different way.”