“I actually think now is a great time to start a business, because the playing field has been leveled. Everything is upside down. This is when you can find opportunities,” says self-made businesswoman, producer and best-selling author Bethenny Frankel speaking about why a downturn is the ideal time to launch a new business. Having parlayed her success as a reality TV pioneer into the multi-million-dollar Skinnygirl cocktail brand that landed her on the cover of Forbes in 2011, the serial entrepreneur has continued to place bold bets, building an enduring business that now spans a myriad of lifestyle categories. Frankel credits her ability to overcome adversity and her penchant for spotting opportunities as key to fueling her expansive career, both then and now. “Instead of panicking and jumping on the complaining/blaming bandwagon, I collect myself, assess the situation and decide where I can be effective,” she says. “You have to think about this time in that way.”
In her latest venture, The Big Shot With Bethenny, Frankel is returning to her reality roots searching for a second-in-command to help helm the massive Skinnygirl business. Airing on HBO Max and filmed entirely during the pandemic, the competition series chronicles the unconventional job search, with talent vying to climb the Skinnygirl corporate ladder and land a spot on Frankel’s executive team. But it’s Frankel’s marketing acumen, unconventional business savvy and relentless drive that take center stage and continue to make her the epitome of the multi hyphenate career. In addition to scaling her Skinnygirl portfolio and penning eight books, Frankel hosts a chart-topping podcast and remains on the frontline of disaster relief with her B Strong initiative, which has collected more than $20 million in aid for distribution.
Frankel doesn’t sugarcoat what it takes to stand out or get ahead. “You have to be honest with yourself. Not everybody’s cut out for this,” she says, when talking about why you can’t exclusively rely on a good idea or a relentless work ethic to launch you out of the entrepreneurial starting gate.
I recently spoke with Frankel about her new show and about building resilience, and any hard-won wisdom she might have for aspiring entrepreneurs, regarding what it takes to rise to the top in today’s competitive landscape.
For aspiring entrepreneurs who are hesitant to launch a business during these unprecedented times, what advice would you share?
“You’ve got to get on the goddamn road, pick a lane and move forward. You may hit a roadblock, get a flat tire or run out of gas, but you then get back in the car, which will take you to another road. But you can’t just stay stuck and stunted in some fictitious business plan that you’re going to create.”
For those who doubt they have the knowledge, experience or skill set they perceive to be the prerequisites to building a successful business, what advice do you have?
“Nobody knows what the hell they’re doing, because things are changing. Every day is different. Understand that you’re a smart person of this earth. If something feels wrong, it’s wrong; if something feels right, it’s right. And you can ask other people. I ask experts things all the time, and most of the time I go with what I know, because some people are too smart for their own good. They’re used to doing things a certain way—and they’re geniuses and they’re brilliant—and they don’t like anything different. I’ve asked Mark Cuban about various things to invest in, but he hasn’t liked them. However, I’ve invested in them and made lots of money. And then I’ve asked him other things that he’s an expert on, and I’ve taken a piece of what he’s said and used it—and thrown away the part I didn’t agree with.
“So just ask others and figure it out, because no one knows anything. The business of buttons and salad dressing is different than cherry juice, it’s different than TV, it’s different than podcasting. It’s different than everything. You’ve just got to figure it out along the way and create your own map.”
When you’re looking to make a critical hire on your team, what qualities do you prioritize?
“Someone has to have confidence, be sure of themselves, be loyal, be trustworthy and hardworking—all things that could have worked in the 1950s. You can’t TikTok dance your way into success. The truth of the matter is, you have to be willing to go that extra mile, to figure it out, to solve the problems, to come from a place of ‘yes.’ What matters is your attitude, your perseverance, your passion, your drive, your determination and your willingness to work hard.”
Unexpected setbacks and challenges are inherent to building a business and navigating career ambitions. How have you learned to bend and not break when you hit these inevitable setbacks?
“If you do break, you take a couple of days, heal your wounds, brush yourself off and start over. And then you come in at a different angle. I was always like that. I always had that. I would be crying in my soup one day, but two days later, I’d peel off that layer and then start fresh.
“The Skinnygirl cocktail is all cute now because it succeeded, but it almost didn’t. My partner wouldn’t spend money ahead of the brand. We couldn’t keep up with demand: There was everything from a glass shortage to an agave shortage. It was a nightmare. But you push through it. If you keep hitting a wall, you step back and you just find another way. You take a yoga class, you meditate, you relax, and you’re like, ‘That’s the way. Try that. That’s the way.’ You’ve got to keep coming at it in different ways and not keep shoving the same thing down people’s throats if it’s not working.”
During those times when you feel unmotivated or hit a creative wall, what do you do to unlock new thinking or give yourself a moment to reset?
“When I’m working, I am working. It’s a nonstop hustle. That’s that. But you have to let yourself heal. You have to take a walk. You have to meditate. You have to sleep. You have to play. You have to take a bath. You have to breathe. You have to laugh. Because the good ideas come during those low-energy-expenditure relaxation points. When I’m between sleep and waking, I will name something. I will solve a problem. I will come in from the other side.”
With the number of businesses and projects you’re involved in, how have you learned to prioritize your time to manage the competing demands on your schedule?
“Most people don’t work really hard, and most people don’t work smart. Just because you’re sitting at a desk all day, telling everybody about all the things you’re doing and all the meetings you’re having and how busy you are, it doesn’t mean you’re working efficiently and wisely or using your time wisely.
“It’s about quality versus quantity. Spend time with your children and be present; spend time with your family and your partners and be present. And when you’re working, be present. Everyone around me laughs and jokes about the fact that no one hates hair and makeup more than I do. But if I have hair and makeup on, I will do 500 things on that day, because once I peel off this mask, I don’t want to do anything the next day. Do not waste my time.”
For newly minted college graduates who are heading into this shaky job market, what advice would you give?
“Do well at whatever you’re going to do. Don’t think a job is beneath you. Don’t be worried about your lunch break. Don’t be worried about your three-week vacation. Don’t be punching a clock. Go and be the best that you can be wherever you are; create value. Cream rises to the top. Look at the whole board, and you’ll see what you’re supposed to be doing next.
“Everyone is so manic. They need to know exactly what their life looks like. My advice is that these young grads should have their own plan. But they should remember that they’ve got to have fun, got to live a little. They have to experience things. They have to breathe. They have to observe. They have to cook, eat, drink, be merry and work. It has to be a more holistic process.”
If someone were to look at your life right now and at what you’ve accomplished as an entrepreneur, philanthropist and investor, what would you hope that they take away from your story?
“Put in the time, the effort, the hard work, the passion and the drive. Go get it; rise above the rest. Don’t worry about who’s in the left or right lanes. Keep going. You’ve got this. But you have to have what it takes. And you have to be honest with yourself. Not everybody’s cut out for this. Don’t waste your time and everybody else’s by saying that just because you have a good idea, you’re a businessperson, or just because you think you’re special and you have a good personality, you’re a businessperson. You know when you’ve got that thing—it’s a force within you that will propel you, that will make you a great success. If you know you have it, don’t spare anything—just go get it.”
