Doing it the Roberts Way

Doing it the Roberts Way

By: Mark Gordon

Entrepreneurs, by necessity, need to block out all fear of failure - a theory in full force throughout this issue of the Review, which profiles 15 of the most accomplished entrepreneurs on the Gulf Coast.

In honor of such risk-taking bravado, Coffee Talk decided to dip into the past, to Flori Roberts, a Longboat Key resident whose entrepreneurial career in cosmetics and beauty products lasted nearly 40 years and resulted in several multimillion-dollar products and companies.

Roberts picked a difficult way to conquer fear: Her pre-entrepreneur career was as a Broadway actress. So she knows what's she's talking about when she says being a successful entrepreneur requires passion and persistence. And how you can't take any kind of rejection personally.

"You have to have a lot of confidence," Roberts says. "If you're scared to death, you can't show it."

Now retired, Roberts still consults with business organizations and advises budding entrepreneurs nationwide. She's one of the founders of the Committee of 200, an organization of woman business owners and executives and has been featured on NBC's The Today Show as a "grandmompreneur."

Roberts, who has homes on the Gulf Coast and in New York City area, also serves on the Office Depot National Advisory Board, an executive strategy group and works with the Advisory Council for the Center for Women's Business Research in Washington D.C.

With that kind of resume and experience as a backdrop, Roberts has plenty to say about what an entrepreneur needs to do - and avoid doing - to succeed. To start with, she offers a cautionary tale that while well known, isn't always well followed: Cash trumps everything.

"If you want to grow, you have to borrow money," Roberts says. "Otherwise you'll always be a mom and pop."

Some other Roberts tips:

• Costs conscious: Work for home at first, until your business or product is well established. Be conscientious about keeping costs low;

• Research required: Know the market completely, including potential threats and competitors, as well as who can help you;

• Hire help: Don't hesitate to hire people outside your expertise. This includes bringing in lawyers, accountants and insurance professionals;

• Observe others: Pay attention to the mistakes and successful traits of other entrepreneurs, both in your business and in general. Pay attention to industry trends;

• Creative capital: Get the most you can out of your idea. Use several marketing strategies and network with as many people as possible.