In this month's blog posts, we're discussing four extra special Entrepreneurs whose successes go leaps and bounds beyond others. We'll look into how they got to where they are, and more importantly, daily habits they developed to get there.
Barbara is particularly incredible because of her true “rags-to-riches” story and gung-ho attitude. She is positive, supportive, and is always receptive to opportunities with her business. She even has a dedicated PR staff to create constant buzz about her brand.
So, today, we're going to uncover Barbara's true secrets to unparalleled success.
You'll see how she developed the largest real estate company in the world, even though she only ever sold three apartments herself…
The tips and tricks she recommends for achieving your dreams…
And how you can implement her practices into your own business habits tomorrow…
From Waitress to Queen of Real Estate
When she was in college, Barbara was waitressing in a diner in New Jersey. By the age of 23 she had gone through 20 different jobs (which she proudly admits), and moved into the real estate business. Her boyfriend at the time gave her $1000 to get started.
Here's where the story gets funny: she was working mainly out of her home, an apartment on East 86th Street in Manhattan.
One day her landlord served her with an eviction notice. She went to see him, a man she refers to as the most handsome man in NYC, to find out the problem. He explained that she was being evicted because clients were coming in and out of her home all the time and she was living with two other girls at the time, he thought she was a hooker.
That's when she learned her first big lesson as an Entrepreneur: perception creates reality. Image is everything.
She took the opportunity to ask her landlord to give her a shot renting out the apartments in his building. She believed she could do better than the current broker. And so she did, earning her living at the time by “renting like crazy.”
In 1973, she started the Corcoran Group, her real estate company. After a few years working with her new business, another big opportunity arose: a client came to her looking for a report on the state of the real estate market.
Being incredibly responsive, she immediately created what is now known as “The Corcoran Report”, which became widely respected by the industry. Suddenly this unknown firm was getting attention, and she became an authority because of the report she regularly published.
That opportunity became free publicity. She went from a tiny business to the head of the pack. All because of her education laden report. This demonstrates the power of education based marketing, that first and foremost provides value for prospects.
As she states, “every time anything was written about real estate, they came to me for statistics, and my name and my company was always quoted.”
Long story short, her company went on to become very successful. She became the Queen of real estate in NY, and then went on to become an international brand. As a good colleague of mine says, you can't drive up the coast in Florida without running into million dollar properties sold by the Corcoran Group.
The Simple Everyday Steps for Success
Barbara is no doubt an incredible Entrepreneur, but she's a person just like anyone else. You, too, can reach her levels of success if you put your mind to it. And take the time to internalize the success habits she practices.
Here are a few secrets you can implement into your business right away:
1) Perception is Reality – I wrote a blog post on this a long time back, and it is absolutely true: you must show that you are successful in order to become successful.
When Barbara got her first paycheck as a real estate agent, she went straight to Bergdorf Goodman and bought an expensive, tailored coat to make herself more presentable. Specifically, to impress her clients when she met with them.
I wouldn't necessarily recommend spending all of your money on expensive clothes, but you can put a good foot forward in a lot of ways: clean up your website so it flows well and is congruent with your image, make sure all of your communications are polished and proofread, and maintain a professional image when you give presentations, when you are networking, or are connecting through other events with prospective clients.
2) Marketing First – Another point she makes about her business that is paramount for any Expertpreneur® to understand is that she is first and foremost “a marketing person, not a real estate person.”
While your dreams are to be a successful Expertpreneur®, any good business owner must prioritize marketing. It's absolutely the most important element of your success. Even more than your talent or skill as a coach, consultant, author or speaker.
Learn the strategies behind good marketing. Research your competition. Understand where your target market hangs out and how to reach them. These will boost your business more quickly than anything else.
3) Be “Irrationally Optimistic” – Barbara is a proponent of staying extremely positive.
A huge part of being an Expertpreneur® is truly believing you can succeed. A positive mindset will create a positive reality. As she humorously puts it, “You almost need to have a low IQ because optimism is often more important than intelligence”.
4) Embrace Your Fears – You also have to be prepared to embrace your fears. In Barbara's case, it's well-known that she has a fear of public speaking.
However, it is deeply important to be able to speak at events to build your business and improve visibility. Barbara knew that as well, so she got herself a job at NYU teaching a course in real estate to build her confidence as a speaker.
She believes that “every single failure has an equally great upside if you are willing to stay in the game.” If you walk away, you're already finished. But if you face those challenges head on, you will come out stronger for it.
This extends to situations where you are unsure of what to do. If you are faced with a big decision, and are worried whether it's “the right time” or “the right thing” to do… go for it.
You will never truly feel that it's “the right time.” So you have to take a leap. Try things out, and don't worry about falling on your face. You'll eventually come out on top if you keep going.
5) Always Be Receptive – One of the most important paths to success is being ready to respond at a moment's notice. You never know when an opportunity will arise that could change your business forever.
This happened to Barbara when she was asked for a report on the state of the real estate market. She was asked for something, said yes first, and then found a way to make it happen.
Now she is considered an authority in the real estate world, and has continuous free publicity. You never know when that could happen to you in your business.
Taking Charge of Your Life
Starting out can be scary. Many Expertpreneurs® are unsure of what to do and where to go. But once you get your mind in the right place, and open yourself up to possibility, you will be poised to achieve great things.
Stay tuned for next week's edition, where we focus on a man who took the concept of “working on spec” to a whole new extreme. Becoming a multi-millionaire in the process.
See you then!