35: Don’t Make Your Landlord Rich

Business Unusual with Barbara Corcoran

Barbara Corcoran

Entrepreneurship, Careers, Business

4.8 • 1K Ratings

🗓️ 2 June 2021

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you’re starting a new business, you need to keep costs low – so renting is the way to go, right? I say no! I’ll tell you why you should scrape together the cash to buy your business headquarters from the get-go. Also, I’ll answer some more of your great questions about how to get the press to pay attention to your little mom and pop shop and what to do about a toxic work environment. Got a business question you want to ask me? Tweet it @BarbaraCorcoran and I may just answer it on a future episode! Follow Business Unusual with Barbara Corcoran on iHeartRadio, or subscribe wherever you listen to podcasts. This episode of Business Unusual with Barbara Corcoran is presented by On Deck Business Loans (http://www.ondeck.com/barbara).

Transcript

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0:00.0	If you're going to build something from nothing, you've got to know what really works.
0:07.4	I took a thousand dollar loan and built a five billion dollar business, and now I make
0:11.6	smart investments in new businesses on Shark Tank.
0:15.2	This is Barbara Corcoran, and you're listening to Business Unusual, presented by On Deck Business
0:21.1	Loans.
0:22.4	This week on Business Unusual, I'm going to be answering all of the great questions you
0:26.4	guys keep sending me in on business, life, how to move forward, how to jump over obstacles.
0:32.2	Come on, I'm good at it, and I want to share my advice.
0:34.9	But first, hey there business owners, don't make your landlords rich.
0:40.5	If you're going to build a big business, you better think about buying versus renting
0:44.8	from the get-go.
0:46.2	The two most important decisions you'll make is what business you're going to go in and
0:50.0	how you're going to house your business.
0:52.4	Let's talk about the housing piece.
0:54.8	When you're building your business, you know as well as I do every single dollar counts.
1:00.2	And rent can be a killer, especially if you're going to be giving away your profits to your
1:05.0	landlord.
1:06.3	So whether you need an office, a kitchen or a storefront, the faster you control your
1:10.1	real estate, the better off you are as a business owner.
1:13.2	If you're paying rent, your landlord actually remains your boss.
1:17.8	Because every time you're going to expand your business and do a little bit more, you're
1:21.8	going to find that the landlord is asking the rent to go up.
	...

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