Last week, billionaire businesswoman Barbara Corcoran shared backstage secrets from her reality series Shark Tank and opened up about the process of collaborating on her autobiographical business book Shark Tales.
Today she has more advice for writers who want to build their business, from how to get noticed to dealing with rejection.
Corcoran began her real estate business in the ’70s, and evolved along with the tech revolutions of computers, cell phones, and the Internet. She says these tools make it easier than ever before to get your writing business off the ground.
Social media is a revolutionary tool that writers have to make themselves heard these days. Corcoran stresses the value and power of authenticity when building or engaging a following.
“You have the Twitter universe, a quick way to get attention and build a following, if you, I think are genuine, have your handle as to what you care about, and create a personality. I think the people who really build followings are people who speak from their heart.
“You can start a blog. Who cares if nobody reads it? I think if you’re really writing from your heart and doing what you do best, I think people find you. And I think the universe discovers you somehow along the way.
“You have a blog, you have Facebook. You have so many roads to access ears and minds that it should be easier. Unless of course you’re focused on how much of the clutter is out there that you’re competing with. And that will kill your confidence from the get-go.”
Competition, she says, can become a major and unnecessary distraction. It’s easy to look around at everyone else, but that distracts you from your actual work.
“It might look intimidating, like how do you get heard? If you have a million writers out there, how do you stand apart from the pack? How do you get attention? It might look overwhelming, so number one, I would say ignore the competition.
“It’s so depressing to focus on who’s doing what. I do much better myself, and I find most people do, in a vacuum.”
Corcoran learned this firsthand when she was starting out. It was a mistake she wouldn’t make twice.
“One of the things I couldn’t do as a real estate broker in New York City is figure out market share. There was no public data then, that you could size up how well you were doing. It was all hearsay against your competition.
“Once I found a way to actually get a good reading on how well I was competing, I became an expert at watching the competition. And do you know, for the year I discovered how to do that, it was the only year I didn’t move my business ahead. I stayed still, I was so busy watching the next guy.”
Leveraging the power of the press to help you get your name out there can be more effective than any paid advertising, Corcoran says. And there are unique ways to position yourself as an expert source on any subject.
She did this herself in the early ’80s, compiling a one-page summary of apartment prices that grew more comprehensive over the years. Today, The Corcoran Report is published quarterly and remains an authoritative source in its field.
“I’ve got to believe in publishing a survey for the press. So your name gets in the printed press. It’s key. And I know there’s a way to do it for any business.
“You can usually find a report you can publish on just about any product. I think that’s a great avenue that a lot of people don’t even go into. I used it to build my whole brand.”
Another way to get exposure through the media is by pitching your story ideas, or offering yourself for interviews, on current events through the prism of your expertise. She says this is easier than you might think.
“There’s a way to tie into anything in the news, if your mind is bent on finding a way. And that’s an easy way to get publicity and get your name out there. And that’s the whole goal in anything. I don’t care if you’re a writer or if you make plumbing supplies.
“It’s about getting your name out there. That’s what builds attraction. That’s what gets people coming back. Because you’re written about. It’s not just about me. It’s about, they have endorsed me by writing about me.”
One of the biggest hurdles we face as freelancers, especially starting out, is rejection. It can be scary and upsetting, but it is part of the process of building a business. Corcoran offers a handy solution that can help you deal with rejection without letting it drag you down.
“The writing business has got to be similar to the real estate business—95% rejection. How you deal with the rejection, how personally you take it. I always have the one minute rule. You have one minute to feel sorry for yourself.
“And if you’re still dwelling on it for a whole minute, just leave your desk. Get out and walk and shake it off. Go see a movie. Do anything. But don’t dwell on rejection. It just pulls you down.
“If you don’t really address it, it lingers on for the next two weeks and affects the quality of your work. Because in a way, you’re only at half mast.”
Many of her greatest success stories in Shark Tales come at the eleventh hour, when her back is against the wall and she is seemingly out of ideas. But she says that pressure is actually a tool for success.
“I think—not everyone—but most people are better under pressure, from what I’ve seen. I know I am. I’m only good under pressure. I work my a– off all the time, but the truth is I never think of anything that really has ever pushed me ahead unless I’m under extreme pressure.
“Now I recognize bad times or pressure times as opportunity, because I’ve learned that that’s when my opportunity is always there. You’d be surprised, if you could just stay with it, versus run from it, how you will think of another idea.”
In Shark Tales, Barbara also recounts her run-ins with another familiar name in New York real estate, Donald Trump. She and her company won a lawsuit in 1996 when Trump tried to back out of paying commissions he owed them. I wondered if they’d been in touch lately, since Trump is mulling a presidential run next year.
“I don’t think he’s going to be calling me for my advice, and I hope to God he doesn’t call me for my support. That would even be worse. I’d have to be honest with him and let him know that if he’s even half serious and runs, I would already be moving out of the country.”
Corcoran has a lot more to say, on everything from how quickly you should grow your business to what to look for in a business partner. You can read all about it in Shark Tales, available online
Learn to earn online! You asked for it, so here it is: a crash course in how to find the good-paying online writing gigs. Our own Angela Atkinson’s next webinar will be How to Make Good Money Writing Online. It’s scheduled for May 24 at 2 pm PST/5 EST. Her co-presenter is the lovely Carol Tice of Make a Living Writing.
Related articles
- ‘Shark’ tale: How Barbara Corcoran wrote the book on building billions in business (wmfreelancewritersconnection.com)
- Shark Tank’s Barbara Corcoran On Cable News As A Business: ‘I’m Out’ (mediaite.com)
Really great job on these interviews and posts, Pat. Thank you!
Angela Atkinson recently posted..Paying It Forward- 10 Ways to Increase Your Freelance Writing Income
That was really good! I love this: “It’s so depressing to focus on who’s doing what. I do much better myself, and I find most people do, in a vacuum.” Great advice. Thanks for putting your time and effort into this interview, Pat.
Pam Houghton recently posted..Home Page
Great post! I haven’t watched Shark Tank this season.
I agree that competition can be a huge distraction. It’s best to focus on what you’re doing; stay on your side of the road. That doesn’t mean you can ‘peek’ at what other writers are doing, but it’s best to focus on your writing.
Sometimes social media and emails can be distractions. Schedule time for these because they can consume you and your day
At first I thought this was a link to my story! I interviewed her for Tree.com. Nice lady.
Thanks for visiting, Barbara–and thanks for the interview, Pat. I like the point about how pressure pulls out opportunities we wouldn’t notice otherwise–and I, too, am best under pressure.
T. Shakirah Dawud recently posted..An Interview With The “Comment Queen”
Barbara is highly regarded in New York real estate. She has a really good PR sense and hired a terrific agency in the 1990s that arranged TV spots for her. She was well known before then in the local market, but now she has achieved national fame. She is a real smart lady.
Arlene Hauben recently posted..Social Media Belongs in Your Marketing Plan