John Paul DeJoria: Companies Should Give Back, Not Just Make A Profit

John Paul DeJoria

I spoke to John Paul DeJoria, the cofounder and chairman of the Board of John Paul Mitchell Systems and The Patrón Spirits Company, before his keynote speech at the EMA IMPACT Summit. He will be speaking this Friday, March 24, at 10:30 a.m. pacific time at the Montage in Beverly Hills, California. The EMA IMPACT Summit brings together heavyweights in Hollywood, Silicon Valley and Wall Street for two days of entrepreneurial, environmental and socially responsible investments solutions.

In the interview, DeJoria talked about why companies should listen to the consumer as they develop new products, how he’s personally made an impact, why companies should giving back to society, how he overcame a struggle in his career, how he manages his time and his best advice.

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DeJoria is a first-generation American turned entrepreneur, philanthropist and pillar of the business community. He has struggled against the odds not only to achieve success, but to share his success with others, always living his motto: “Success unshared is failure.” In 2011, John Paul signed Bill Gates and Warren Buffet’s “The Giving Pledge” as a formal promise to continue giving back. The same year, he established JP’s Peace, Love & Happiness Foundation as a hub for his charitable investments, which support the core values of his companies: sustainability, social responsibility and animal-friendliness. His upcoming documentary Good Fortune, directed by Joshua and Rebecca Tickell, will be in theaters this June and iTunes with Lionsgate on August 1st.

Dan Schawbel: As someone who runs multiple successful companies, how can we better incorporate the consumer when it comes to product development and innovation?

John Paul DeJoria: It’s imperative to incorporate the consumer in the development of product. In our case, at John Paul Mitchell Systems we ask hairstylists for their feedback; they use the product and then are the ones who recommend it.”

Schawbel: The theme of the conference is around making an impact. What type of impact can you have on our society through your companies and charitable giving?

DeJoria: John Paul Mitchell Systems, Patron and John Paul Pet all share a culture of giving back. By actively contributing, others are influenced to do the same. Most people innately want to share love and goodness around the planet, so leading with a positive example illustrates how easy and fun it is to share, in turn, making it become popular for other companies and individuals to do the same.”

Schawbel: Do you think companies are responsible for giving back to society above making a profit?

DeJoria: Yes, it is the obligation of all companies to do something of profit for their city, community, country and planet—benefiting society and future generations. It is paying a little bit of rent while we all are here.”

Schawbel: Can you discuss one struggle in your career, how you overcame it and what you learned as a result that has made you more effective?

DeJoria: Our backer for Paul Mitchell pulled out, never giving us so much as a dime. My partner and I pulled together $700.00, between the two of us, to get started and off the ground, I lived out of my car for a couple of weeks. Being able to turn that situation into a success story has given me the inspiration to take risks in other less than ideal situations, and inspire others to do so as well.