Showing posts with label barbara corcoran. Show all posts
Showing posts with label barbara corcoran. Show all posts

Monday, January 26, 2015

Barbara Corcoran: Here's How To Reinvent Yourself

Here is a great article by Barbara Corcoran on how to reinvent yourself. You can find the original article here.


barbara corcoran blog shark tankThe start of the New Year is a great time for a fresh start. But change is tough.

When I sold my real estate business, which I had built for 30 years, I was unprepared for the personal challenges I’d need to overcome. Reinventing myself in a new career was so much harder than I expected. If you've been dreaming about totally changing your career, here are a few things that will help you along the way.

1. There’s no such thing as a total reinvention.

The best you can do is “repackage” yourself!

When I sold my real estate business, I needed to figure out who I wanted to be in my next chapter, so I sat down and wrote a list of every job I ever held and what I liked and disliked about each.

There were 23 different jobs on my list and to my surprise, I found I liked the same two things--I love an audience and I’m really good at marketing! So my list of potential new careers that could build on my strengths was a short one. I decided I was either going to start a PR company or an advertising firm or I was going to make myself a talent on TV. I took a shot at TV because I knew it would give me my biggest audience and I would have the chance to market myself instead of a whiny client. You’ll have a much greater chance at success and happiness in your new career if you know what you like and what you’re really good at and if you can manage do a lot more of it. Remember, you can repackage yourself but you can’t change your wiring.

2. Expect to be lonely. 

When I sold my business, a major piece of my identity went with it. I missed my 1,000 adoring brokers and my management team that had become my family. I was no longer part of a work community— of course I missed the parties and good times, but I even missed the endless stream of emails that used to be the bane of my existence. In my search for connecting with a new community of people, I plugged into the social media world and found that Twitter and Facebook made me friends with a whole range of new people and they became my stand-in community. I built myself a circle of support.

barbara corcoran marketing shark tank3. You have to reinvent yourself in stages.

Successful reinvention can’t happen overnight. So instead of trying to reach my end goal as a business expert on TV, I built my new persona in small steps. I started as an occasional on-air guest on local TV, then got paid as a real estate contributor on morning talk shows, and finally landed as a Shark/Investor on ABC as a business expert. Landing your first gig in your new space will serve as confirmation that you’re on the right track and will increase your confidence so you’re able to reach your end goal.

4. There’s no such thing as part-time. 

Even if you’re a pro at the top of your game in your industry, once you switch to a different field you’re starting from scratch. Building a successful new you takes the same long hours as your first career and you’ll still have to give it 150% of your time. At first, I thought I could give half my energy to reinventing myself and the other half to having fun, but it didn't work out that way. I had to work just as hard at building my second career as I had my first and this time I didn't have the advantage of youth.

Change is tough and you can always come up with 100 reasons not to do something or quit in the process, but reaching a goal that you bravely fought and won, is invigorating and a worthy reason for doing it.

To see this article's sponsor, click here.

Monday, March 24, 2014

Define Bottle and iReTron: A Tale of Two Pitches

By: Pete Troshak
Twitter: @Shak74
Website: www.Shak74.com

kid entrepreneurs on shark tank
Last week's Shark Tank featured entrepreneurs ranging in age from six to sixteen who have invented items to make the world a better place. Two of the pitches featured inventors of roughly the same age who displayed business savvy combined with an impressive level of social and environmental consciousness beyond their years. Only one walked out of the Tank with a deal, and we are here to analyze why.

Wednesday, March 5, 2014

Why Cheek'd Failed to get a Deal in the Tank

cheek'd in shark tank
By: Pete Troshak
Twitter: @Shak74
Website: www.Shak74.com

Lori Cheek was an architect who made a lot of money and had a fashionable wardrobe while working for Christian Dior. She sold her posh wardrobe and gave up her swanky apartment to follow her dream of building relationships instead of buildings, by creating a new dating service. She was living on her friend's sofas so she can afford her business and help people connect in a new way. Will her desire to bring love to the world melt the usually icy hearts of the Sharks, or will they decide that Lori Cheek is giving love a bad valuation?

Saturday, March 1, 2014

Shortstacks and Peer Pressure

By: Elizabeth François, Writer & Designer
Twitter: @elizfrancois
Facebook: Elizabeth's Note Book


Erica Barrett, the founder and CEO of Southern Culture Artisan Foods, a breakfast lifestyle brand, stepped into the Shark Tank seeking $100,000 for a 25% stake in her company.

Erica’s love for cooking started at the age of nine when she received her first cookbook from her grandmother, The Good Housekeeping Cook Book (red and white checkered hard cover). She started to experiment with recipes, honing her craft which eventually led her to become the grand prizewinner at the Lea & Perris and FoodNetwork.com cooking contest. So it was no surprise that she would be inspired one day, and that day happened when she went to pick up ingredients at the grocery store to make a breakfast of pancakes for her husband. Erica realized that something was missing from the grocery aisle: a no-fuss way to make pancakes. Ding!

Sunday, February 2, 2014

@ Alaska Glacial Mud Company

By: Elizabeth Francois, Writer and Designer
Twitter: @elizfrancois
Facebook: Elizabeth's Note Book

Lauren Padawer strolled into the Shark Tank wearing a short sleeve, teal blue wrap round dress and black fur trimmed Wellingtons, (a fashion faux-pas perhaps). She is a commercial fisherman, the owner and founder of Alaska Glacial Mud Company, and was seeking $100,000 for a 20% stake.

As Lauren described how she discovered the buttery soft silky mud on a wilderness rafting trip down the majestic Copper River, visions of luxuriating in the mud danced in my head. I loved this product already. The Sharks however didn't seem to share my vision, eyeing Lauren a little hesitantly during her pitch. Her enthusiastic: “who wants to get their fins dirty and play in the mud with me?” elicited a lukewarm response from the Panel. Barbara put a voice to what everyone else seemed to be thinking: was Lauren the only one in the world to discover this miracle mud? Yes. (..well maybe not after the airing of this episode).

Monday, January 27, 2014

@ Daisy Cakes: What Doesn't Kill You Makes You Stronger

This week's Shark Tank featured a third update on the Daisy Cakes company which first aired in Season 2, Episode 6 of the show. Kim Nelson, the entrepreneur behind the company, started the company based on her great aunt Daisy's cake recipes, and has since seen much success. She landed a deal with Barbara Corcoran, who has continued to help grow the company to the point where they are expected to generate $3 million in sales this year. However, this week's update also highlighted a recent setback the business had.

As a result of making poor hiring decisions, the quality of her cakes deteriorated, and Kim's company lost $150,000. In response, Kim has decided to return the company back to its city of conception in South Carolina, where she hired a new team of bakers to bring the quality right back up to par. Barbara has of course been at her side every step of the way, and continues to guide her through the good times and bad times, offering her golden words of wisdom and years of experience in growing businesses.