Tuesday, November 3, 2009

Business Lessons Learned From TV Favorites

In the past, I have watched programs for sheer entertainment. However, I'm quickly recognizing that there are always opportunities to become more knowledgeable about growing a successful business. Many believe that just because one business may not be directly related to their business, there's nothing to be learned from it, nor should you get to know the story. It's for this reason, I've decided to comprise a list of things that I've learned from some popular TV programming.


"Property Shop" is my favorite HGTV program. It follows the life of Tatiana Londono, a successful real estate agent, who becomes a Broker and opens up her own agency. Londono, the quirky but clearly driven curly blond, is a true force to be reckoned with. In a little over a year, The Property Shop has grown from an agency of 4, to 40+ agents with sales in the seven figure range. This show is loaded with tips on how to grow a successful business. But two of the greatest lessons for me were...


* Don't Take Things Personal: Leave the Emotions Out of Business. - In a recent episode Londono was asked to work with a former business partner, who had initially questioned her work ethics and causes Londono to decide to end their agreement. However, after the business partner realizes that Londono is the best, he asks her to reenter their agreement. Londono considers refusing to work with him, because she was hurt that he questioned her abilities. But after careful consideration decides to reenter their agreement when she sticks with the facts, which were it was a multi-million dollar project and the opportunity to prove him wrong. In the end, she sold both units quickly, (after the first open house) and the business partner admitted that she was great at what she does. By making a logical decision based off of the facts, she was able to add to her bottom line significantly, as well as showcase her abilities to grow her client base.


* Focus On The Bigger Picture! -In the same episode of the aforementioned "Property Shop", Tatiana Londono was responsible for selling her business partner's condominiums. She sold one with no problem. However, the potential buyer for the second one, decided that he wanted the condo fully furnished, despite the furniture was created by Londono's business partner and not for sale. Londono convinced the business partner to include the furniture. But when the potential buyer wanted the flat screen television to also be included, the business partner refused to concede. Realizing that both the business partner and the potential buyer were not going to give into eithers' demands. Londono decides to purchase a flat screen television herself to close the deal. Both the potential buyer and the business partner were pleased. In her closing statement, Londono revealed that she thought it was senseless to let a deal fall through, due to a $1200 television. She thought the $1200 was a small price to pay for the $40K+ commission she made. And I'd have to agree with her.


"The Real Housewives of Atlanta" is another one of my guilty pleasures. I know, you're probably thinking "What could they possibly teach me about running a successful business?" However, Sheree Whitfield's experience launching her She By Sheree clothing line is full of lessons to be learned, starting with...

*Know What You Want - I admire Sheree Whitfield  for having a clear vision for her clothing line. For the most part, she has finally launched She By Sheree, an upscale clothing line, to attract the attention of the most fashionable.  Every great idea starts with a vision. So be consise and detailed about what you want your business to become. Consider keeping a journal or making a idea collage to serve as a reminder and inspiration for you and those who work for you.
 
*Be Realistic/Recognize Your Weaknesses -  We have to be realistic about our expectations. In my opinion, I feel that Sheree could have launched her clothing line much sooner, had she had reasonable expectations. Her inability to be flexible on some matters created unnecessary set backs. In the end, she finally recognized that despite she had been an owner a successful clothing boutique in Atlanta and had a strong sense of style, she knew very little about what it took to put a fashion show together. She decided to enlist the services of Dwight Eubanks to help execute her vision. It shouldn't be any surprise that we don't have all the answers. This is why we should be willing to rely on others expertise to help our businesses grow.
 
*Know Your Strengths And Don't Be Afraid to Show Them! - Dwight Eubanks, also known as "Atlanta's Other Housewife" is known for his over the top style. But even I had to admit, he really took control of Sheree's event and made it a remarkable success. He wasn't afraid to take a stance on approaches or decisions he made. His confidence in his craft shows and I'm sure helps to contribute to his successful salon.
Confidence is key. It's perfectly fine for you to showcase your skills, whenever possible. If you're great at what you do, there's no way people can deny it. Dwight offered his services to both Sheree and Lisa WuHartwell early on. It just took Sheree a couple of failed attempts to execute, before she reached out. Small business owners can't afford to make the same mistakes. I know I can't.
 
 
One of the most valuable lessons I've learned while running my business is to allow everything I do to serve as a tool to grow my business. Although watching television is a great past time for me, I don't feel so guilty about watching it because I'm making it count. Hopefully, this will serve as encouragement for you to do the same. 

1 comment:

  1. OMG! I loved it! I wasn't sure how you were going to tie it together but you did an excellent job. It made perfect sense and pointed out some things that I never would have thought of. Hope you share lessons from some other shows. Gives watching TV a new perspective. Thanks!

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