"Shark Tank" investor Daymond John wants budding entrepreneurs to know this: You don't need money to start a business.
In a recent video interview with Business and Burgers, he says that most people falsely believe that they must have money, know someone important or have a famous last name to launch a business.
"I want people to understand that they have the power to do what they want to do," John says. "Nobody is going to come to your house … and say I'm going to make you rich."
The "Shark Tank" star proves that having a lot of money isn't necessary to achieve entrepreneurial success. In 1992, he launched the hip-hop apparel line FUBU with only $40 worth of fabric and turned it into a brand worth $6 billion.
But he's just one of many successful entrepreneurs who have started businesses with little money.
Another successful entrepreneur: the late Apple founder Steve Jobs. He started the company with his friend Steve Wozniak in 1976. Originally, the two worked out of Jobs' parents' garage, according to CNN.
In order to bring in revenue to buy the necessary materials, Wozniak sold his HP 65 Calculator for $500, although the buyer ended up stiffing him on half, according to Walter Isaacson's Steve Jobs biography.
Jobs also sold his Volkswagen bus for $1500. But just two weeks later, the buyer came back because the vehicle's engine had broken down. Jobs agreed to pay for half of the repairs, according to the biography.
With a final total of about $1300, the two friends began buying and assembling parts to create their first products for sale.