In the 1980s, John Paul DeJoria weathered 12% inflation and 18% interest rates. It was a tough path but he succeeded in founding John Paul Mitchell Systems, a hair care firm that registered $900 million in sales in 2010
While today's economy is rough, rags-to-riches entrepreneur John Paul DeJoria says the situation pales compared to the 1980s when he launched his hair care products company with $700, selling door to door in Los Angeles out of the trunk of his car.
This piece originally appeared in Stanford Business Insights from Stanford Graduate School of Business. To receive business ideas and insights from Stanford GSB click here: (To sign up: https://www.gsb.stanford.edu/insights/about/emails)