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Episode 31: Everyone Has a Success Story | Rey Ybarra, Author of Conversations with Shark Tank Winners

In Episode 31 of the Defining Success Podcast Rey Ybarra shares the stories of numerous Shark Tank entrepreneurs and how Shark Tank has impacted their lives and their businesses.  Rey has been able to share the stories of these entrepreneurs through all of their failures and successes to show how the entrepreneurs who have appeared on Shark Tank have thrived following their appearance on the show.

Rey Ybarra on the Defining Success Podcast

Rey Ybarra

Rey Ybarra is the author of Conversations with Shark Tank Winners featuring entrepreneurs from the hit ABC TV reality show Shark Tank.  As a multimedia book author he is producing audio and video interviews focusing on helping entrepreneurs, small business owners and for those who have dreams and a sincere desire to work their dreams.

Rey Ybarra has been an entrepreneur, talk-show host and has produced a lot of multi-media programming.  He’s been helping small businesses understand social media and use the tools of the Internet to help their businesses.

Rey understands that educating businesses on how social media and the Internet can impact their businesses has been invaluable to those businesses.  As the world and the Internet has changed Rey has come to realize that a lot of businesses were in denial about how the Internet was playing a role in their businesses.

A lot of people didn’t know where to go and they needed help to understand how people were using technology and the Internet to interact with businesses.

Rey’s greatest passion is interviewing others to learn what makes them tick and how they’re using their business to help others.

Rey began working on the multi-media book, The Shark Tank Effect, to help share the stories of the entrepreneurs who have appeared on Shark Tank to a larger audience.  Through his interviews, Rey has been able to dig deep into the lives and businesses of these entrepreneurs and hopes that his book will inspire others to pursue an entrepreneurial path.

Shark Tank is a show that helps people and those who have dreams. Rey interviewed Barbara Corcoran and Robert Herjavec for an article he was writing and also many of the entrepreneurs and he got an idea for the title of his book, Conversations with Shark Tank Entrepreneurs.  He went to work right away contacting enthusiastic entrepreneurs to become a part of the project.

During his interviews he talked with several Shark Tank entrepreneurs about what they did before Shark Tank, how they got on the show, what the process was, and how they were going to give the presentations.

Rey decided to make his book into a multi-media platform because he understands that people learn to process information in a variety of different ways.  He knows that some people like to read, others prefer to listen and still others prefer to watch video.  The multi-media book gives Rey the opportunity to reach people who learn in a variety of different ways.

Rey has interviewed 14 of the entrepreneurs who have appeared on Shark Tank.  He also is working with Steve Kaplan, an entrepreneur extraordinaire and he’s on a CNBC show called Crowd Rules which debuted two weeks ago and he’s one of the judges and he is also on a show called Secret Millionaire where they handpick some successful entrepreneur who want to give back and help their communities.  He talked with Steve and they are working together on Rey’s book.

The Shark Tank Effect is something Rey covers in all of his interviews in which he asks the entrepreneurs that he’s interviewed is how the Shark Tank has impacted their business and their lives.  Each Shark Tank entrepreneur responds with a different answer about how the Shark Tank has changed their lives.

The best interview Rey conducted was with Billy Banks Jr. and his wife Sharon Catherine Blanks and their program, Dance with Me.  Their Dad, Billy Blanks invented Tae Bo and living in the shadow of his father had always been difficult.  When the episode aired, they were homeless and living in a motel.  Now they are traveling the world introducing their Dance with Me program all over the world.

Carol Foster created Mee-Mas Gumbo, who at the time of her appearance on Shark Tank was homeless.  The biggest reason why Rey created this book was to help as many people as he can.  You can get all sorts of information from these entrepreneurs and you can learn from each one of them.

Barbara Lampugnale from Nail Pak who was visiting her daughter from Connecticut who struck a deal with Lori Greiner.  How do you run a business while raising a family?  Listen to the interview with Barbara Lampugnale and you’ll be able to understand that.

Persistence is the key to getting the guests for Rey’s book . . . A big problem Rey had in the beginning was that he had some technical difficulties and lost six of the interviews he had recorded.

The one big trait that all the entrepreneurs on the Shark Tank do whatever they have to do to get the work done.  They don’t let anything humanly possible stop them . . . not even natural disasters.

Dan and Liz Holtz, owners of Liz Lovely cookies, did not get a deal from the Sharks and three days before they opened their store Hurricane Irene came in and wiped them out. The building materials, staff, and inventory was all lost.  They persevered and overcame those obstacles and even though they didn’t get a deal, the exposure they received from the Shark Tank grew their business exponentially.

Cheryl Rigdon invented the Spatty Daddy and even though she didn’t get a deal from the Sharks, Daymond John has been helping her grow her business and she’s experienced exponential growth as well.

The advice Rey would give to others would be to give aspiring entrepreneurs where the entrepreneur is asking for money, you have to know your numbers.  You have to know margins, return on investment, cost per unit.  You have to know all of those numbers in your sleep.  For aspiring entrepreneurs you better know your numbers, why and how and the nuts and bolts of everything in regards to your business.

Rey asked Mark Lim, creator of Lollacup, what his keys for success were and he asked what do you mean?  Rey then followed up with him . . . What did you do to prepare to get on the Shark Tank and Mark then understood.  When an opportunity comes and you seize it than that is what determines your success.

Success Stories from Conversations with Shark Tank Winners by Rey Ybarra

Conversations with Shark Tank Winners

Engaging Discussion Questions:

  • Are you doing what you love? 
  • Are you willing to do whatever it takes to make your business successful?

Links to Great Stuff:

  • Conversations with Shark Tank Winners – Conversations With Shark Tank Winners is the multimedia book featuring interviews with the entrepreneurs from the ABC TV reality show Shark Tank!
  • Steve Kaplan – Steve Kaplan Inc. helps you identify the success you really want. Then, through our no-nonsense, roll-up-your-sleeves mentality and products, we help you get it. Steve has turned his experiences into proven tools to help individuals and businesses identify and achieve big goals. Through Steve’s proprietary products and services such as his unique downloadable step-by-step success playbooks, one-on-one sessions, workshops, bestselling books, DVDs, keynote speaking and more, Steve Kaplan Inc. guides you down the path to success.
  • Crowd Rules – “Crowd Rules” features three small businesses that compete in front of an audience who vote to decide which business wins a much-needed $50,000 prize. Entrepreneur and jewelry designer Kendra Scott, TV newsman Pat Kiernan and a weekly guest who is an industry expert lead the examination of the small businesses. While the business owners make their case to the panel of three, the real power lies in the hands of the audience—97 strong—whose votes ultimately decide which business is most deserving of the investment.
  • Secret Millionaire – The secret’s out! Some of America’s most successful self-made millionaires are embarking on a truly incredible journey. They will spend a week in the country’s poorest areas and ultimately reward some unsung community heroes with hundreds of thousands of dollars of their own money.
  • Shark Tank – The critically-acclaimed business-themed show, Shark Tank, has the Sharks continuing the search to invest in the best businesses and products that America has to offer. The show received a nomination for a Producers Guild Award in 2013. In 2012 “Shark Tank” received an Emmy nomination for Outstanding Reality Program and a nomination for a Critics’ Choice Television Award for Best Reality Series. The Sharks — tough, self-made, multi-millionaire and billionaire tycoons — will once again give budding entrepreneurs the chance to make their dreams come true and potentially secure business deals that could make them millionaires. They are: billionaire Mark Cuban, owner and chairman of AXS TV and outspoken owner of the 2011 NBA championship Dallas Mavericks; real estate mogul Barbara Corcoran; “Queen of QVC” Lori Greiner; technology innovator Robert Herjavec; fashion and branding expert Daymond John; and venture capitalist Kevin O’Leary.

Shark Tank Entrepreneurs Interviewed by Rey Ybarra in Conversations with Shark Tank Winners:

Success Quotes:

  • “Success is finding what you’re great at and pursuing it with everything you have.”
  • “These stories will definitely help them to have hope.”
  • “As an entrepreneur we all struggle from time to time.”
  • “You might not relate to all of them but I can guarantee you that you will relate to 2 or 3 of them.”
  • “The Shark Tank Effect for us means unlimited opportunity.” via Cousins Maine Lobster
  • “Once you go on that show (Shark Tank) your life will never be the same.”

Special Requests:

Success

Rey Ybarra

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Episode 10: The Business Breakthrough | Entrepreneur On Fire Host John Lee Dumas

Fire Nation ignites seven days a week in John Lee Dumas’ Entrepreneur on Fire podcast.  He has interviewed some of the most successful entrepreneurs and shares the takeaways from his podcast with us.

If people are telling you something is impossible, or you’ll never be able to do it . . . take that as a sign that that is something you should do.

John Lee Dumas

John Lee Dumas

Recap:

John Lee Dumas is the founder and host of Entrepreneur on Fire, a business podcast that interviews today’s most inspiring and successful entrepreneurs 7 days a week. Entrepreneur on Fire is a top ranked business podcast generating over 150,000 unique downloads a month in over 140 countries. His lineup includes Barbara Corcoran, Seth Godin, Tim Ferriss, Gary Vaynerchuk, Guy Kawasaki and hundreds more. All the magic happens at EOFire.com so be sure to check them out.

John went to college in Providence, RI on a ROTC scholarship.  He spent 8 years in the U.S. Army as an officer with a 13 month tour of duty in Iraq.  He tried corporate finance, residential real estate, commercial real estate, tech start ups.  In June 2012 he started his passion of sharing the journey of other entrepreneur’s with the world where he interviews some of the most successful and inspiring entrepreneurs.

John Lee Dumas

John Lee Dumas

American spend so much time commuting to and from work which is where John Lee Dumas had his AHA Moment for Entrepreneur on Fire.  In 2009, he discovered podcasts and became hooked because he could find the content he was looking for and the content had zero commercials.  He started listening to Wall Street Journal and found another unique podcasts to listen to.  At some point, he ran out of content and realized that there wasn’t a podcaster who was posting a show once every day and he’s been posting it every single day since September 20, 2012.

Entrepreneur on Fire follows a format for his podcasts and John wanted to hear about the journey of successful entrepreneurs.  Every episode starts with a success quote and how they apply that quote to their life.  Then he discusses obstacles and failures they’ve had in the past and how they’ve overcome those obstacles.  Then covering the AHA moment that turned them into successful entrepreneurs.  Then they talk about their current business and what’s exciting them now and their plans for the future and then they have a lightning round which usually consists of five questions that pull out great information and resources for the listeners.  The podcasts typically last 25 to 35 minutes.

John Lee Dumas has interviewed over 200 entrepreneurs and one of John Lee Dumas’s favorite interviews was with Barbara Corcoran who is on ABC’s Shark Tank.  Hearing her story about how she was living in New York as a waitress and never thinking she was going to be more than that and how she had her AHA moment which led her to becoming one of the most successful entrepreneur’s in America.

The process began for Entrepreneur on Fire in June 2012.  He quit his job and went all in deciding to start his podcast.  He went down to a conference called BlogWorld in New York City where he met Pat Flynn, Derek Halpern, and Adam Baker who were willing to be some of the first guests for his show.  He planned appropriately and had 40 guests lined up and ready to go by the time he launched his podcast in September, 2012.

Consistency has been one of John’s greatest attributes which have helped him build his following.  “Fire Nation” has been a group of loyal listeners who have come to expect and appreciate the daily posting of podcasts by John Lee Dumas.  As a result of his planning and consistency, he’s getting 175,000 downloads in over 140 countries every single month.  Just six months after the idea of Entrepreneur on Fire John was asked to speak at BlogWorld as an expert in podcasting.

John says the most important thing you can do is to have a high level of quality.  John has always tried to produce the highest quality of show that he can possibly do.  And every episode he creates he produces higher and higher levels of podcasts.  So when people come across his podcast they know that the podcast is high quality and that he is someone who is working hard to bring an exceptional experience to them.

When he’s talking about podcasting one example of how he strives to be the best is having high quality audio and the actual content has to be high quality.  The guests and the topics have to be valuable to the people who will be listening to the podcasts.

One thing John points out in his interview is the existence of his “Avatar” or the target market for his podcast for John, his “Avatar” is 25 to 45 year old “Wannabepreneur” and they haven’t done it yet, or maybe they just started it.  His goal is to help entrepreneurs by motivating them and giving them motivational boosts along the way.  If you have a clearly identifiable target market it’s much easier to reach them.  Asking for feedback from that group is also a great way to enhance your podcast to make it better.

Entrepreneur’s are very transparent and love sharing their stories about how they’ve overcome mistakes.  At the beginning John was very nervous to reach out to entrepreneurs and he learned that it was okay to reach out to people.  His big takeaway was that people in the online world are very friendly, welcoming and willing to help.

If you’re interested in podcasting, John Lee Dumas highly recommends buying Podcast Launch by John Lee Dumas.  It goes through every step of the procees, it comes with 15 video tutorials, it’s $5 and it’s something John wish he had when he started podcasting.  He wanted to come out with a book that was completely transparent about his process and he wants to further the brand of Entrepreneur on Fire by giving away great content and helping others.  Right now, it’s the #1 podcast book on Amazon.

One of John’s greatest success stories came from a captain in the Marines who didn’t know he had a story to tell, but because of the podcast he had his own AHA moment who came out with his own podcast called A Dose of Leadership where he interviewed some incredible leaders all over the world.  His name is Richard Rierson and he’s interviewed some successful leaders and is having his own impact and he started all because of Entrepreneur on Fire.

From Day 1, John always wanted to turn Entrepreneur on Fire into a business.  And set out to become just a podcaster and now that he’s getting close to 175,000 downloads a month he’s getting sponsors who are providing a significant revenue for Entrepreneur on Fire. Once you have a big enough audience people start to take notice.  Audible.com, Legal Zoom and SquareSpace.com are currently sponsoring Entrepreneur on Fire.  But, John is also able to add books, products and services which have helped create a great income stream.

John’s determination has been his greatest asset.  Many people told John that doing one podcast a day was not doable and he had tons of people who were telling him that he couldn’t and shouldn’t do it.   John was determined, passionate and was able to take over his niche of providing daily content for “Fire Nation.”

Entrepreneur on Fire

Entrepreneur on Fire

Engaging Discussion Questions:

  • Have you had an AHA moment?  What was it?
  • Has anyone told you something you wanted to do was impossible?  How did you respond?

Links to Great Stuff:

  • Entrepreneur on Fire – “John Lee Dumas is the Founder and Host of EntrepreneurOnFire, a daily podcast that interviews todays most inspiring and successful Entrepreneurs.  EntrepreneurOnFire tells the journey of the spotlighted guest, sharing their early failures, AHA moments, and insight into what is working for them now and why.  Every show ends with a 5-question “Lightning Round” that pulls priceless nuggets of information from these incredibly successful Entrepreneurs.  Subscribe to iTunes via http://bit.ly/RX3yMa and Prepare to Ignite!”
  • Podcast Launch – “Have you ever considered creating your very own podcast? Podcast Launch will take you through the entire process, from step one to step done. This book comes with 15 video tutorials where the author, John Lee Dumas, will walk you through the more technical aspects of podcasting. These tutorials will make your podcast experience enjoyable and stress free.”
  • Barbara Corcoran – “Barbara Corcoran’s credentials include straight D’s in high school and college and twenty jobs by the time she turned twenty-three.  It was her next job that would make her one of the most successful entrepreneurs in the country when she took a $1000 loan to start The Corcoran Group.  She parlayed that loan into a five-billion-dollar real estate business which she sold in 2001 for $66 million.”
  • Seth Godin – “Seth Godin has written fourteen books that have been translated into more than thirty languages. Every one has been a bestseller. He writes about the post-industrial revolution, the way ideas spread, marketing, quitting, leadership and most of all, changing everything.”
  • Tim Ferriss – “Tim has been featured by more than 100 media outlets–including The New York Times, The Economist, TIME, Forbes, Fortune, CNN, and CBS–and has been a popular guest lecturer at Princeton University since 2003, where he presents entrepreneurship as a tool for world change and ideal lifestyle design.”
  • Gary Vaynerchuk – “Meet Gary Vaynerchuk, a 36 year old New York Times and Wall Street Journal Best-Selling author who is also a self-trained wine and social media expert. From a young age, it was clear that Gary was a businessman. At 8-years-old he was operating seven lemonade stands in his neighborhood and by 10 he had moved onto selling baseball cards at local malls. In high school while working at his family owned liquor store, Gary started reading The Wine Spectator and wine books, and realized collecting wine offered an allure similar to his previous hobby of collecting baseball cards. With a wealth of knowledge and an entrepreneurial spirit, Gary spent every weekend of his college years at his parents’ wine store. Recognizing the importance of e-commerce in 1997, Gary launched Winelibrary.com and helped grow his family business significantly from $3 million to $45 million by 2005.”
  • Guy Kawasaki – “Guy Kawasaki is the co-founder of Alltop.com, an “online magazine rack” of popular topics on the web, and a founding partner at Garage Technology Ventures. Previously, he was the chief evangelist of Apple. Kawasaki is the author of ten books including Enchantment, Reality Check, The Art of the Start, Rules for Revolutionaries, How to Drive Your Competition Crazy, Selling the Dream, and The Macintosh Way. Kawasaki has a BA from Stanford University and an MBA from UCLA as well as an honorary doctorate from Babson College.”
  • Audible.com – “We’re here to establish literate listening as a core tool for anyone seeking to be more productive, better informed, or more thoughtfully entertained.”
  • Legal Zoom – “Every year, Americans spend millions of dollars on routine legal needs, from incorporations and trademarks to last wills. Others put off creating essential legal documents because of the inconvenience and high fees. As attorneys, we knew there had to be an easier, more affordable way to take care of common legal matters.”
  • SquareSpace.com – “Whether you need simple pages, sophisticated galleries, a professional blog, or want to sell online, it all comes standard with your Squarespace website.”
  • A Dose of Leadership – “Hosted by Richard Rierson, the Dose of Leadership Podcast is the ultimate resource of inspiring & educational interviews with relevant and motivating leaders; real-life leadership & influence experts who dedicate their lives to the pursuit of the truth,  common sense, & courageous leadership.”
  • BlogWorld – “The BlogWorld/New Media Expo Blog is a prolific new media industry news and information site that offers a diverse array of content – covering social media for business, blog, podcast and video content creation, distribution, and monetization, the latest social networking tool, tech and trends –– and also covering topics in all vertical niche areas of blogging (tech, business, parenting, sports, real estate, military, politics, etc).”
  • Pat Flynn – “I’m Pat. I’m a 30 year old dude from Southern California who makes a living on the internet. I consider myself the luckiest person on Earth.”
  • Derek Halpern – “I show people how to turn web traffic into leads and sales. And if they’re not getting any traffic, I show them how to get that, too.”
  • Adam Baker – “At Man Vs. Debt, we hope that by sharing a transparent and honest account of our own journeys to remove barriers – primarily our debt and excess clutter – we can empower and inspire others who find themselves on similar paths.”

Success Quotes:

  • “Success is the gradual realization of a worthy goal.”
  • “When you hear people talking strongly against an idea, that means it’s a great idea.”
  • “Once you have an audience in place, the sky is truly the limit.”
  • “The mission of Entrepreneur on Fire is to inspire millions.”
  • “If you want to make millions, you need to inspire millions.”
  • “The online world is a very friendly place.  We are in this huge marketplace where helping people is only going to help ourselves.”
  • “Help spread the word and get more people motivated and passionate about following their dreams.”
  • “She definitely flirted with me quite a bit throughout the interview so I definitely enjoyed that.”
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Episode #2: Explore Your Options | Kim Nelson of Daisy Cakes

Kim Nelson is the owner of I Love Daisy Cakes. She cooks and mails some of the most delicious cakes all over the country. She appeared on Shark Tank and struck a great deal with Barbara Corcoran and has never looked back. Learn how she was able to take sales from 2,000 in 2010 to 25,000 in 2012.

Thank you for coming to the Defining Success Podcast website.  Please download, subscribe and rate our podcast in iTunes – https://itunes.apple.com/us/podcast/defining-success-podcast/id619459909.  Hope you enjoy the show!

White Chocolate Mint Cake by Daisy Cakes.

White Chocolate Mint Cake by Daisy Cakes.

Recap:

Kim Nelson knew early on that baking was her “God-given talent.”  She started at an early age and made some wise business decisions on her way to her appearance on Shark Tank at the end of 2010.

While in the Shark Tank, Kim asked for $50,000 for 20% of her business and struck a deal with Barbara Corcoran for exactly what she asked for.

She’s worked hard to build her business and took her cake sales from 2,000 in 2010 to more than 25,000 in 2012.

Her biggest mistake in business was not looking into all available options when it came to shipping her cakes across the United States.  She recently switched shipping options and has found it much more convenient for her business.

She advocates people pursuing their passions and advices those interested in baking to go for it.

Her cakes have appeared on the Nate Berkus show and with Anderson Cooper and has been creating opportunities with celebrities because her cakes taste so good.

Kim Nelson from Daisy Cakes

Kim Nelson from Daisy Cakes

Takeaway:  Explore Your Options

Many business owners are very good at taking action to accomplish particular goals, but sometimes it’s very important to consider all your options before making business decisions.

In Kim’s case, she had been paying more than twice as much for shipping going from $45 per shipment to $20 per shipment just by switching shipping companies.  This change in value will help grow her business as she will be able to sell more for less, reaching more customers and making more customers happy.

Taking action is a good trait to have, but learn to explore all your options when making important business decisions and you will be rewarded for doing so.

Engaging Discussion Questions:

  • What is your “God-given talent”?

Links to Great Stuff:

  • I Love Daisy Cakes – Some of the greatest hand-made cakes you’ll ever have.  Her cakes have sold everywhere thanks to an appearance and Shark Tank and their wonderful recommendations.
  • Shark Tank – The Shark Tank appears on ABC every Friday night.  The sharks are entrpreneurs who invest in companies who pitch their product to the “Sharks.”
  • Welborn Media” – When it comes to website design in Southern California, be sure to explore your options.

Quote of the Episode:

“To make people happy with what makes me happy.” – Kim Nelson

Special Requests:

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