Deborah Richman: Courageous Through Crises
When you build your own business for the first time, the business often becomes an extension of yourself. Many entrepreneurs find that their company becomes an integral and often central part of their lives; they cannot imagine what they’d do if they lost the business they’d worked so hard to create and scale. But sometimes, we do not have control over whether or not our business remains under our control. Losing control of the company you created makes an entrepreneur reach deep inside to redefine their unique competitive advantage. Deborah Richman joins us on ENTREPRENEURradio to discuss what she learned to do– and stop doing– in order to remain resilient in the face of this kind of crisis.
Deborah Richman’s early success was as the CEO and founder of Deborah International, but in a fallout with her partner, she lost control of the company she had invested so much personal capital to build. “You just have to reinvent yourself and move on,” she says in her interview on Inside the Entrepreneurial Mind” “You have to just dust yourself off, brush yourself off and get up.” Deborah threw herself into new projects, building on the product, client and distributor base she knew so well. Following the advice of a mentor, an artist who encouraged her to create a product of her own, she designed the successful Lady In Red fragrance line and rebuilt her company as DKUSA.
Resilience is a core competency for an entrepreneur. “You can always move on past mistakes or crises, no matter how bleak your prospects may seem,” she affirms. For more on Deborah’s insights and experience, click on her episode of “Inside The Entrepreneurial Mind,” on ENTREPRENEURradio.org.