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She -- a career of saying yes and no to the right people.
-- court -- knows a good deal when she sees one that even this real estate titan wants underestimated her own value.
In fact Barbara was set to south 55%.
Of her real estate business for just 50000 dollars but the deal fell through.
Four years later in 2001.
Thanks to a booming market the business sold for a cool 66 million.
We're here today with Barbara at her park avenue offices to talk about entrepreneurship and investing.
Barbara thank you so much for your excellent I love that -- from Canada actually pay you for being here coming up and deal that got away well of course.
It was a deal that happened when I was desperate for cash I was so much money I was over -- -- I don't too many offices and I really thought I was going out of business.
And so when that lovely -- -- -- offered me an ideal of a lifetime I immediately say yes.
Thank god he changed his mind he is just line and the market turned around almost -- the same point in time from there it was easy it was raining down from.
Well good for you in -- lucky and lucky for you and useful media entrepreneur viewers today are so focused on getting that Angel Investing -- The you'd rather see them dig deep in their own pocket can spend cash for XY is back.
Because it's great picture if you will succeed in building this and start their cash for -- bee 505000.
Dollars limit parred 101000 dollars.
From family and friends so once you have that kind of money.
That is so valiantly every bucket so -- -- -- -- careful not to lose it.
The -- is getting so that's just a lot of big money business and let him be Chad elected to try everything in the world and those money seem like a big deal.
He's a big deal -- you know we have a short window of opportunities to see.
What -- on what your take on the trappings of big component now in funding any business you know why don't that the NC Angel investors you know -- Capital would be rounds of financing and go right to the consumer.
On the various website since that time of the -- and what -- -- you do your pitch to the consumer and collect -- money Ted Allen feels a hundred dollar bills and 200 dollar bills.
And you don't give up equities business this is in the east.
Oh great -- achievement.
And a lot of times it is friends and family investing you see don't wanna lose that money again right now you don't want to lose money -- and you have a team that -- of these willing to put a little money you business as they believe -- -- And nothing's better than people sent me.
And speaking of believing your dream when if ever do you give up on a business.
I give up on.
This say -- you know god for New Orleans -- And nor -- it broke this year's -- to take rejection well can get back up.
-- -- -- -- -- -- -- -- that he grew on me and that's immediately sends that.
On the believed the -- because he's leaving.
What you've been number one thing that you're looking for as a shark investor on ABC's hit show shark tank and not looking for business -- -- I'm looking for.
Give me the right for gardening there in the wrong business they will turn it business it's something that's -- But if you don't have the right right Q what great business like you if you can't sell that -- -- The stamina to see through the finish line.
There is no way you can succeed -- how good -- right so it's all need for this are there any country numerous or businesses that you have invested in that you wish you hadn't said yes Tim.
-- like to say it's a few.
But I have to learn as I go and you know like you have to try this and that sweeteners.
Hill and I'm getting worse so let -- go.
I -- -- quite a few but one that's popping in my head is certainly.
A one -- and -- it -- -- nominal entrepreneur nor have all the makings of someone who's going to be successful and she designed oversized women's Wear.
Beautiful clothing and -- -- But what I didn't know about that businesses she had a husband in the -- -- -- ran a business I thought I was buying there.
-- the -- I found myself working with a less talented person I don't know.
Okay well that sounds like I had that little as 50000.
What how you know week you know -- -- -- -- I and sixteen more than 200 businesses present hickson hope that you investment community invested in -- -- fourteen yes I -- how do you -- and -- still standing yes they are still standing.
And how do you Foster them and Foster relationships for them within the business community.
And -- can't tell agreed to ignore what to do in this business there apple in the lead dog you put you decide everything you do what I can do -- -- -- and that's what I see my position.
I push -- -- and help in whatever way they need they just act.
What line do we do Skype -- like you the best place I can't because of more experience certainly doesn't mean right.
And when -- get -- to do is stream of pictures is business living color what they want to be when they grow up.
How big that is is is -- -- -- and get hurt in the mission of the business and help them a little bit with the mechanics that -- That -- Christmas sales and attendance is being very very wealthy and so that's really nice girl and many of them half.
Many of them happening not that they -- it you -- you have no idea how hard isn't it isn't working 20%.
With great cash.
Greets them and they deserve to be successful and the success comes out and you should know because you've been.
And -- happened on the bad days in the good days in the in between days here's -- mentor for them on the continent or at least a walking talking samples of the stills.
Yes very true.
You spoke to me about business plans being too rated an entrepreneur is really wanting to stick to that.
-- a little bit more flexible right -- back.
I just with the business plans today on grossly overrated they have one thing wrong with them they haven't hit -- Let me take your green business plan and the plight to the actual market place and he wouldn't like to act now would you do with you -- you projection.
We I think we've become.
On ship and where's that educated now -- schools and our national rate.
Let me tell you really education happens street -- I believe in the business plan as a vision a vision of what you want to do how you see yourself because that's what I'm used it myself.
Any kind of business plan -- put on paper within one month was to follow within three months really you know.
Yeah take it actually real world in the real world is really wasn't anything place you respond and respond -- -- the turn left turn right it's because you can't.
Try to figure in that England has some business and business plans with an argument do you think there's still -- -- for formal education as far as business schools and -- are concerned yes it is but what does the downside to that is which has seen repeatedly and -- -- -- -- really sent me.
Really Smart people who -- and we'll -- -- -- Havel -- projections in the world but the fact of the matter raises and -- -- -- I'd rather get someone that -- -- a three people didn't graduate from high school who succeed in question today.
And you and I guess somebody hustle you greens because hostile -- him laugh a lot other.
If you -- And of course being a shark not everyone can get on national TV at big stage but it's their products like -- Cinderella that -- -- the very absolutely it's.
Not everyone can get there so how do you get your product to your business idea in front of the right people and knock it out of the -- the best person to get the product.
And the business -- deal.
Is it just ignore and but there's got to know this obviously thought if he can't.
Sell in the it was sitting here on his little PH it's like this.
He -- that he cannot sell -- -- -- don't get out all the justices on the outside test product.
Shake it up do it differently so they actually going to be some significance.
Ones and that's a long access usually do for the first few years -- -- And one thing he told me that someone really motivated you early on write your first business -- there yet the issue and it and you know and I believe in positive motivation.
-- let me tell you very up and negative motivation you expect I was leaving my business partner -- and it was my secretary so I had again it was.
-- he said to me as a -- at the -- -- -- succeed but now.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And so sometimes insult to secede of the best in the nation like if you could -- even improve different.
And -- that lucky children's policy through an insult.
And believe me I would not succeed I don't believe what state -- as long as part.
At the worst times I hadn't had that echo in my head again and again and got -- Thank you very much for your time -- -- place.
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