Real Housewives of New York City star Bethenny Frankel is undoubtedly a savvy businesswoman. Her Skinnygirl empire, which started as a single liquor line, has turned into a full-blown lifestyle business and Frankel is sharing business tips with her fans in a new interview.
“You never assume anyone is smarter than you,” she tells The Indianapolis Star. “It doesn’t mean that you run around thinking everyone’s an idiot, it just means you don’t assume anyone is smarter. It could be your travel agent, it could be a doctor, it could be all the people in the liquor business that told me that Skinnygirl was not a good idea until I proved it was. If you feel something, than you’re feeling it for a reason and you’ve got to explore it.”
Frankel adds that while “freedom is scary,” it can also give potential moguls the chance to be creative.
“Everybody has an idea and everybody thinks that their idea is the greatest and everybody is running around worrying about everybody else stealing their ideas, and the truth of it is, it’s about execution,” she continues. “Right now I could be talking about a television show idea and five other people could be talking about a similar rendition of that idea, but it’s about who can execute it properly. Spinning has been around for 25 years at least, then one day someone said, ‘I’m going to SoulCycle or Flywheel, it’s different.’ I went into a class, it’s not different. But someone marketed it and got people to pay $35-$75 a seat per time where going to a gym with a membership is the exact same thing. It’s rebranded, it’s execution.”
Bethenny also shares her secrets on saving money.
“Taking out a certain amount out of your paycheck every week,” she advises. “Not having to buy something the minute it comes out, not paying retail, editing what’s in your closet. People are very messy and disorganized, and messy and disorganized equals losing money because you don’t know where everything is, so you end up buying things you already have, from a box of pasta to a black dress.”
“Women keep buying to fill this hole, and I get it because believe me, been there, done that,” she admits. “But I can afford it and I buy everything on sale. Women have too much stuff and if they knew the amount of money that would be in their bank account that is in their closet and drawers and wasteful amount they spend on toys to get their kids to be quiet, it’s a lot of money.”
Photo Credit: Bravo