239: The Importance of Being Bold in Business, With Real Estate Mogul Dottie Herman

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 25 February 2019

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

You don’t become the richest self-made woman in American real estate by playing it safe. Dottie Herman has proved time and time again that bold moves pay off. In the 1980s, in a maneuver that solidified her path to the top in real estate, Herman flew to California and convinced Merrill Lynch to hire her to help the company expand into the real estate market. In 1990, when Prudential decided to sell its regional holdings, Herman then persuaded the company to lend her $9 million to purchase its own Long Island real estate offices. And in 2003, Herman expanded her empire into New York City with the nearly $72 million purchase of the most prominent Manhattan real estate company, Douglas Elliman (again convincing Prudential to finance the deal). “If you don't ask, you don't know,” Herman says. “And the worst that can ever happen is someone says no.” Key Takeaways How Dottie Herman got into real estate Her bold move that convinced Prudential to lend her money to purchase one of its own companies How she weathered a recession while running her business The story behind acquiring Douglas Elliman, a prestigious real estate company in Manhattan Why she wanted to expand her real estate empire into New York City Her thoughts on branding How she maintains a good working relationship with her employees What she hopes to do next

Transcript

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0:00.0	This is episode number 239 with Doddy Herman of the Founder Podcast.
0:07.1	What you need is thirst.
0:08.9	You need to be a thirsty human who is intent on learning.
0:12.9	It's a really fascinating exploration of human potential.
0:18.6	The Founder Podcast.
0:21.8	Even the greatest entrepreneurs had help.
0:24.7	If you want to learn from the most successful founders on the planet, you are in the right place.
0:30.4	Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Arianna Humphington, Steve Case, Gary V, Sophia
0:35.1	Amorosa, Barbara Corcoran, Damon John.
0:41.8	Learn from the greatest minds in business today with interviews hosted by Nathan Chan.
0:45.0	This is not your average entrepreneur podcast.
0:47.3	The Founder Podcast.
1:13.2	Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let you know that our goal at founder is to help entrepreneurs succeed however we can by giving away high quality content in the form of interviews, blog posts, podcasts, YouTube videos, you name it. We put out so much content to help you.
1:18.4	And another interesting project that we're working on right now is partnering with world-class founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach crucial
1:24.4	skills like negotiation, finance, e-commerce, and so much more.
1:30.7	So if you'd like to get access to these free trainings with founders like this, which is 100%
1:37.0	free, just go to founder.com forward slash free. Okay, so now let's talk about today's episode.
1:44.4	Hello and welcome to another episode of the founder podcast.
1:48.1	My name's Nathan Chan. I'm coming to you live from hometown, homegrown, Melbourne, Australia.
1:54.4	Thank you so much for taking the time to share your earbuds with me.
1:58.0	You're in for a treat with today's episode.
2:00.1	But before I talk about today's
	...

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