SHARK TANK Investor Explains The SECRET TO SUCCESS In Business |Barbara Corcoran & Lewis Howes

Reinvestment

Barbara Corcoran emphasizes the importance of reinvesting profits back into what has already proven successful. She advises entrepreneurs to avoid holding onto excess cash and instead, reinvest it into strategies that have previously yielded results. "The best place to put the money is what has worked," she asserts, highlighting the need to focus on tried-and-true methods rather than new ventures 1. This approach ensures that businesses continue to grow and adapt, staying ahead of competitors who may be more cautious 2.

   

Marketing

Marketing plays a crucial role in maintaining business relevance, according to Barbara. She shares how she built her brand through strategic media attention, emphasizing the power of publicity and social media in today's market. "Publicity can build a brand," she notes, underscoring the importance of creativity in capturing attention 3. Barbara also highlights the success of entrepreneurs who leverage social media to engage with audiences and drive sales, demonstrating that effective marketing is key to sustaining growth 4.

   

Visibility

Barbara Corcoran illustrates the art of grandstanding to maintain visibility in a crowded market. She recounts how she used media outlets like The New York Times to elevate her brand, a tactic she likens to today's social media strategies. "You have to be creative in thinking of how you can grandstand," she advises, stressing the need for entrepreneurs to continuously innovate in their marketing efforts 3. This approach not only keeps a brand in the public eye but also helps in building a loyal customer base 5.