I recently went one on with Danh Tran. Dan is the founder of the fashion brand Buttercloth, which gained national attention when Dan and one of his investors - former NBA star Metta World Peace - appeared on ABC's Shark Tank and were offered a deal from Robert Herjavec.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks or challenges have been most instrumental to your growth?

Danh: Funnily enough I got here by sitting in my mom’s lap as a child. My family owned a small tailor shop in Vietnam, and I would sit there watching the needle on her sewing machine go up and down completely enthralled. Despite her request that I never play with “this machine”, I found myself making my own clothes before I was ten years old. There, my dream of coming to America and becoming a fashion designer was born.

Adam: How did you come up with your business idea? What advice do you have for others on how to come up with great ideas?

Danh: Despite always wanting to look put together, I always hated wearing dress shirts.  They’re stiff, they’re suffocating, and you can’t move in them!  I would wear a t-shirt to the office and change into a dress shirt just for meetings.  I was always thinking “why can’t I make a dress shirt that feels like I’m wearing a t-shirt?”. Then I thought, “wait...I can!”

Adam: How did you know your business idea was worth pursuing? What advice do you have on how to test a business idea?

Danh: Based on feedback from friends and colleagues I knew I wasn’t alone in my disdain for uncomfortable button-down shirts. It wasn’t so much about testing my business idea as it was having the courage to pull the trigger to invest 100% of my time and money into it. There has never been a better time to be an entrepreneur, my best advice is to just jump.

Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?

Danh: Finding the right people to help me on the business and marketing sides.  I recruited my long-time friend and mentor, Bob Stevens, who is our COO.  Together we assembled a first-class team.  From there we dove into marketing Buttercloth. We began by advertising on Facebook and Instagram, using video to tell our story and educate consumers.  Metta and Robert have been great brand ambassadors so that has helped a lot.  Slowly we have added additional channels that today include Google, YouTube, email, SMS, Pop-Up Retail locations, Affiliate Marketing, Programmatic Ads, Podcasts, and more.  

Adam: What are the best lessons you took away from your experience on Shark Tank?

Danh: Know your numbers like the back of your hand and be prepared to answer the tough questions.  And don’t be afraid to give up some equity in your business for the right Shark – it could be life changing.

Adam: What are your best sales and marketing tips?

Danh: Make sure to remember you’re not designing for yourself; you’re designing for your client. Don’t set yourself up for disappointment by creating a prototype that can’t reasonably be mass-produced. Either due to production cost or a difficult to follow blueprint. Finally, don’t price yourself out of the market. Keep costs reasonable.

Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?

Danh: If you want to be a good leader the key is to be a role model for your team. Set an example of courageous behavior, and then pardon the inevitable failures with more encouragement. 

Adam: What is your best advice on building, leading, and managing teams?

Danh: I know my strengths and weaknesses, and I’m pretty good at finding the right people to fill in the gaps. We are building an amazing team at Buttercloth.  Each individual has a strength the company needs. Just like any other company, there are different departments. With all of them doing what they do best, each individual strength gets the business moving forward.

What are your three best tips applicable to entrepreneurs, executives, and civic leaders?

Danh: 

1. Have a great product – Make sure it’s unique and in-demand. After years of wearing T-shirts up until the last moment I could before walking into meetings and changing into stuffy button-downs, I knew I couldn’t be the only person out there desperate for a comfortable, professional solution.

2. Build yourself a good team. I’ve seen businesses fall a part because of teams that didn’t work well and/or didn’t work well together. Both are key factors in a successful business. 

3. Go into business with the right partner(s). My strengths aren’t all encompassing of all things business. Maybe one partner is a strong designer, another is a brilliant marketing mind, a third may be an investor with a keen eye and experience in building new businesses. Most importantly, make sure those partners believe in your business as strongly as you do.

4. Focus. Don’t lose sight of who and what your business is about. In my case, it’s the needs of my customers. Be it a seasonal, a lifestyle, or in our case a soon-to-be women’s line. 

5. Consistency – Stay consistent in your mission statement and your marketing. Our is and will always be comfort, our long-fiber cotton and our 6-way stretch. Our customers know regardless of the garment they choose – be it a mask or a shirt – they will always get these 3 things.

Adam: What is the single best piece of advice you have ever received?

Danh: It comes from the book that gave me the courage to finally risk it all and start Buttercloth. “If you want to be successful, you have to jump, there’s no way around it. When you jump, I can assure you that your parachute will not open right away. But if you do not jump, you parachute will never open. If you’re safe, you’ll never soar!” This was written by Steve Harvey in his book “Jump”. I jumped and never looked back.