Exclusive Q&A with Daymond John on his Latest Startup, Moguls Mobile

The mobile tech shows no sign of slowing down, and it has disrupted the behavior of consumers. People can’t seem to be able to live without their mobile devices, and this presents huge opportunities for product makers and service providers.

Daymond John, one of the stars of ABC’s Shark Tank, jump into the mix, launching Moguls Mobile, a startup that offers unique mobile accessories, featuring the uniquely-crafted Tempered Glass GOLD Mogul Mirror.

We have a wonderful opportunity to have a Q&A session with Mr. John, discussing the launch of Moguls Mobile. He will share his insights on the mobile industry, and I believe you can learn much from him.

Ivan Widjaya (Q): Mr. John – many thanks for the opportunity to have a Q&A with you. Finally – a startup after FUBU! What’s the story behind Moguls Mobile?

Daymond John (A): Moguls Mobile creates innovative, highly functional and fashionable mobile accessory products for today’s on-the-go lifestyle. Our purpose is to create products that facilitate and enhance our mobile lifestyles. Today, most people are never three feet from their devices and we offer a suite of products that will make everyone enjoy using their phones even more than ever before.

Q: Your Tempered Glass GOLD Mogul Mirror is one of a kind, and I believe that it’s largely due to Moguls Mobile’s culture of innovation. Just wondering, where does the idea come from?

Daymond John, founder of Moguls Mobile

A: Our Gold and Platinum Moguls Mirror takes a practical item that everyone wants to have—and enables them to make their mobile device look good at the same time. Having recently spent so much time on camera and with others that are on camera, I have constantly witnessed many friends always checking themselves out in a mirror. I find it is very hard for most people to walk by any mirror, whether it is in an elevator or living room, and not look at themselves. Also, when you think about the one thing that never leaves our side or is more than 3 feet away from us, what could be a better combination.

Q: I saw one of your products, the Magneti Keyboard, featured in a music video (Jasmine V & Kendrick Lamar’s) How effective is this branding tactic in delivering the results that you expect?

A: Anytime a product you sell can get exposure, it is helpful. The one piece of advice I would give any aspiring entrepreneur in determining how they get that exposure would be to evaluate the return on the capital they have to spend to achieve those impressions. If the sales you would get as a result of those efforts don’t pay for the marketing, you may want to re-evaluate spending the dollars.

Q: I learn from Moguls Mobile website that you actively seek for new innovative ideas from individuals. My question is, how do you decide whether an idea is worth-developing or not? In other words, what do you seek in an idea submission?

A: We are seeking inventors with great new mobile accessory ideas that don’t want to be entrepreneurs. It is very hard starting a new business and we would like the opportunity to speak to any such inventors and demonstrate that they can be more rewarded by partnering with us versus going it alone. We would love to see any new ideas that the public has not seen and believe that we can take these ideas to market under our brand.

Daymond John and his Tempered Glass Gold Mogul Mirror

Q: Lastly, please share your tips for our readers who want to jump into the lucrative but challenging mobile market.

A: If any of your readers have a great new mobile product idea, I would encourage them to partner with me and let Moguls Mobile make and sell their new product ideas. We will invest the capital and resources to bring their ideas to life and will partner with them and pay them a royalty on product sales. They can submit their ideas directly to us on a confidential basis at http://mogulsmobile.com/pages/pitch-your-idea Our open innovation platform is managed by Edison Nation the largest open innovation marketplace in the world and all submissions are on a confidential basis.

Many thanks for your time, Mr. John!