Learn how to grow your brand with limited budget using proven strategies from beauty industry leader Nilofer Vahora.

In this action packed webinar you’ll discover how small businesses and entrepreneurs can leverage cost-effective marketing strategies to achieve impressive results without massive spending. CMO Nilofer Vahora shares the exact techniques that helped brands like amika grow from 50 to 450+ influencers through smart resource allocation and strategic partnerships.

Register now and you’ll learn:

• Build a Powerful Influencer Community on a Budget: Discover how to identify and partner with nano and micro-influencers who deliver authentic engagement at a fraction of the cost of celebrity endorsements.

• Create Engaging, Conversion-Driven Content: Learn how to leverage trends while maintaining brand authenticity, and discover techniques for fostering community engagement through strategic comment responses.

• Transform Your Physical Space into a Content Creation Hub: Convert your existing locations (office, store, salon) into powerful brand experience centers that attract creators and loyal customers.

Don’t miss this opportunity to learn how to maximize your marketing impact without maximizing your budget!

About the Speaker:

Nilofer Vahora’s expertise spans a diverse portfolio of beauty and fashion brands, with a special focus on digital-first strategies and consumer-centric growth. Most recently, she was Chief Marketing Officer at Milk Makeup, where her innovative brand-building initiatives helped the brand achieve global recognition as a clean beauty pioneer. Her leadership was instrumental in transforming Milk Makeup into a digital-first, cult-favorite brand, leveraging disruptive campaigns and a bold, creative marketing approach. Prior to her role at Milk Makeup, Vahora held senior leadership positions at Shiseido and Rebecca Minkoff, where she successfully launched category-defining products and implemented creative marketing strategies that elevated brand equity and expanded market share.

As CMO of amika, Vahora will oversee all marketing functions, with a focus on amplifying the brand’s unique identity and connection with consumers. Her appointment reflects amika’s commitment to bold, visionary leadership as the brand continues to grow its influence in the beauty industry.

Amazon CEO Andy Jassy said on Thursday that Amazon sellers would probably respond to President Donald Trump’s tariffs by raising prices for consumers.

“I think they [sellers] will try and pass the cost on,” Jassy told CNBC in an interview.

Trump levied a 10% tariff on all trading partners and an “at least” 145% tariff on China earlier this week that could impact consumer prices. The tariff news has thrown Amazon sellers into a panic because the majority of goods on the platform, up to 70% of products per Wedbush Securities estimates, come from China.

Related: Amazon CEO Andy Jassy Says There’s One Trait That Contributes ‘an Embarrassing Amount’ to Being Successful

While sellers decide whether to raise prices or absorb tariff costs, some Amazon shoppers could be responding to tariffs by stocking up before any price hikes — though Jassy says the short-term nature of shopper data makes it hard to tell if it’s a long-term trend.

“People have not stopped buying, and in certain categories, we do see people buying ahead, but it’s hard to know if it’s just an anomaly in the data because it’s just a few days, or how long it’s going to last,” Jassy told CNBC.

^{Amazon CEO Andy Jassy. Photographer: Michael Nagle/Bloomberg via Getty Images}

Amazon’s marketplace consists of roughly 9.7 million sellers that contribute to 60% of sales on the platform. According to Fox Business, more than half of the top sellers on Amazon are based in China.

Jassy told CNBC that Amazon has made some “strategic” inventory buys and is trying to renegotiate terms for some purchase orders in response to tariffs. According to Bloomberg, Amazon canceled orders for beach chairs, scooters, air conditioners, and other products from numerous Amazon sellers in China last week after Trump announced his tariff plan on April 2.

Amazon Is Still Spending on AI

Jassy also released his annual shareholder letter on Thursday, outlining the reasons why Amazon is set to spend $100 billion this year on AI.

According to the letter, Jassy said that AI currently requires a “substantial capital investment,” but will one day “not be as expensive as it is today” as the cost of AI chips goes down.

Related: Amazon CEO Andy Jassy Says Earning Employees’ Trust Takes More Than ‘Being Nice’ — Here’s How He Does It

When I started my first business, I had everything going for me. To be sure, I was terrified, but I was also young and full of grit and determination. Being confident that you’ll succeed is sometimes half the battle — so is having the courage to work hard, and being raised on a farm in Idaho toughened me early. As a child I was entrusted on a daily basis with responsibilities that would daunt many adults.

I also knew my industry. I’d put myself partway through college working for an electric sign company, and now I was founding one of my own. Basically, I convinced myself that these two factors — a diehard work ethic and expertise in the work involved — would carry the day. Don’t get me wrong — they’re vastly important qualities, and no entrepreneur will succeed without them.

But I soon discovered what every new business owner will learn eventually: preparing for every setback is impossible. There will always be a surprise waiting in the wings to steal the spotlight at the worst possible moment.

Related: What Is a Good Credit Score and How Do I Get One?

What I learned the hard way

My business did pretty well out of the gate, so I figured financing would be a cinch. I was wrong. I got turned down for an SBA loan within a month of hanging out my shingle. Adding insult to injury, the idea of receiving good-faith credit from vendors was laughable.

Who was I, after all? The world is full of hard-working kids with big ideas, and you can bet that whatever business you’re in, there will be plenty of established companies that can provide the same service faster and better. With no financing or credit to draw on, I was forced to pay for every expense with precious cash out of my own frequently empty pocket.

When I was an employee of a sign company, cash flow seemed to take care of itself. Being a boss was a whole different story. There was no one to take care of it but me, and finding the cash to pay for every expense on the fly became a nightmare. No matter how well the business did, I stayed cash poor. On any given day, I’d have literally hundreds of thousands of dollars owed to me in accounts receivable, but zero in the bank to pay accounts payable.

I’ll never forget the sleepless nights; the stress headaches; the dark fantasies wherein I was unable to make payroll, unable to pay rent. And this is the chief thing they never tell you: a new business owner can be killing it on paper and still spend his nights pacing the floor.

What I did to fix the problem

The vendors who turned me down didn’t dislike me personally. The SBA didn’t deny my loan application because the government disapproves of Idahoans. My difficulties were owed to one thing and one thing only: I had no credit history. I’d been taught from childhood that debt of any kind is an objective evil, and I’d never applied for so much as a credit card.

I’d paid for all my adolescent needs, including automobiles, in cash. The consequences were beautifully ironic: what I’d once done ignorantly but voluntarily, I was now forced to do. Potential lenders had no way of knowing whether I was the type of client who paid his bills. Credit bureaus had no clue I existed.

My career didn’t take off until I faced this difficulty head-on and took deliberate steps toward building flawless personal and business credit history. It wasn’t easy, but it didn’t take long to realize that achieving good credit scores is more a matter of developing good habits than reinventing the wheel; though reliable information was much harder to come by back then, I hustled and did my homework and eventually mastered the topic.

Related: 5 Simple Ways to Improve Your Credit Score and Help Your Business

In today’s world, no fledgling business owner has an excuse for ignorance about the basic building blocks of finance. The internet is a treasure trove of clear, energetic advice regarding how to improve your credit and reputation simultaneously. Alongside the internet, businesses are devoted to helping business owners understand and access their credit data. It’s not much of an exaggeration to say that in the old days, I’d have cut off a finger to access the wonderful services and tools that most of us now take for granted.

The rewards for capitalizing on such blessings are real. Take a look at some of the advantages of an impressive credit score — tell me they don’t coincide with what you already assume are fundamental steps to fruitful entrepreneurialism:

• Borrowing money: A good credit score can help business owners get loans at a lower interest rate with better terms.
• Trade credit: Trade credit allows business owners to grow their inventory without paying immediately, which is ideal for cash flow.
• Lines of credit: Speaking of cash flow, lines of credit can keep the pipes well-lubricated during the crises, major and minor, that ensure that running a business is never boring.
• Insurance: A solid credit score can mean lower insurance rates and better coverage.
• Lease rates: Similarly, business owners with great credit can get far better lease rates on must-haves like equipment, office space and work vehicles.
• Customers: An impressive credit score is essential for building a business-like reputation. Large companies and government entities require a minimum business credit score to award contracts to smaller enterprises.
• Relationships: Business is all about relationships, and a high credit score will go a long way towards convincing future suppliers and business relationships that you are the real deal.
• Payment processing: Strong business scores mean a better discount rate on merchant processing fees.

The list goes on, and the perks evolve, but the message is as steadfast as if written in stone. Without robust credit scores, a small business will never do any heavy lifting, much less hope to survive in one of the most competitive arenas known to humankind.

A week after announcing that the U.S. would be implementing a sweeping tariff plan worldwide, President Donald Trump announced on Wednesday a 90-day pause on tariffs for most countries — except China.

On Truth Social, Trump wrote that over 75 trading partners did not retaliate to the tariffs, and reached out to U.S. representatives to work out a deal. Those countries would gain a 90-day pause.

“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote. “Thank you for your attention to this matter!”

China, however, is getting an even bigger tariff on its goods — 125%.

“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump wrote on Truth Social. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”

The European Union (EU) will also impose retaliatory duties ranging from 10% to 25% on U.S. goods. China has a reciprocal 84% tariff rate on U.S. goods, effective April 10.

What counties are under the tariff pause?

Tariffs on Mexico and Canada will be reduced to 10%.

The White House said it would not release a full list of the 75 countries, per CNBC, but the pause will not affect steel and aluminum tariffs. And because the EU imposed retaliatory tariffs, they are likely not on the list, though that could change.

While announcing the pause, White House press secretary Karoline Leavitt said the universal tariff rate would be brought down to 10%. The Treasury Secretary, Scott Bessent, said this was the “strategy all along.”

Earlier in the day, Trump told his followers on Truth Social that everything is going to “work out well.”

This is a breaking news story and will be updated.

A New York courtroom came face-to-face with artificial intelligence last month when a plaintiff attempted to use an AI-generated avatar to present a case.

Jerome Dewald, a 74-year-old plaintiff in an employment case, submitted an AI-generated video for his argument without telling judges beforehand.

The video featured an AI-created person who didn’t exist and was used to speak in his place.

On March 26, the video played before five baffled New York State judges who were listening to the case at the New York State Supreme Court Appellate Division’s First Judicial Department. The judges expected Dewald to speak on video, but the video he presented to them showed a young man in a button-down shirt and sweater.

“May it please the court,” said the AI-generated avatar. “I come here today a humble pro se before a panel of five distinguished justices.”

One of the judges, Justice Sallie Manzanet-Daniels, interrupted the presentation immediately before the avatar could speak another word.

“Okay, hold on,” she said. “Is that counsel for the case?”

Related: TikTok’s Symphony Avatars Make It Tough to Tell If It’s a Human or an AI Clone in an Ad

Dewald confirmed that it was and said that he had generated the person using AI. Manzanet-Daniels called for the video to be turned off.

“I don’t appreciate being misled,” she said, noting that Dewald had not stated beforehand that he would be using AI to present his argument.

Dewald was still allowed to make his argument himself, and he later wrote a letter of apology to the court explaining that he didn’t have a lawyer and turned to AI to deliver his argument in a polished way, without stammering or pausing.

“The court was really upset about it,” Dewald told the Associated Press. He said that he had used a program from a San Francisco company to create the avatar.

Related: Tennessee Just Passed a New Law to Protect Musicians From a Growing AI Threat — And Even Taylor Swift Has Been a Victim

This isn’t the first time AI has made an appearance in the courtroom. In June 2023, a federal judge leveled a $5,000 fine on two lawyers and their New York-based firm, Levidow, Levidow, & Oberman, P.C., for using ChatGPT in their arguments. The AI chatbot made up quotes, cases, and citations, creating a fake legal history.

However, AI technology has also been allowed to help courts function. In June 2023, the Eleventh Judicial Circuit of Florida released an AI digital chatbot, Sandi, so that anyone who visits the Miami-Dade Courts website can receive assistance from the bot in either English or Spanish.

The Arizona Supreme Court introduced two AI-generated avatars in March named Victoria and Daniel. The court tasks the AI personas with delivering news of rulings and opinions in the state through YouTube videos.

As an entrepreneur, you understand that each business you create comes with its own unique mission. Whether you’re in the coffee industry, tech or health, every company needs a clear purpose — a mission that serves as its guiding star. This mission shapes not only your company’s purpose but also its goals, culture, and values. But what if I told you it’s possible to unite all of your businesses — no matter how diverse they are — under a single, cohesive mission?

I’m not just speaking from theory. I’ve successfully done it with my 22 businesses, ranging from a coffee roasting company to a natural supplement brand, and everything in between. The result? A streamlined operation with a clear, unified purpose that has transformed my entrepreneurial journey. It wasn’t easy, but it’s possible for any entrepreneur — and here’s how you can do it too.

The power of a unified mission across diverse businesses

It’s easy to fall into the trap of thinking that each business you run needs its own individual mission — especially when they serve different markets or industries. You might think that a coffee company and a health supplements brand are too different to unite under one purpose. But this mindset can limit your potential.

I’ve learned that with the right framework, multiple businesses — no matter how distinct — can operate under one unified mission. What ties my 22 companies together is a shared vision of global healing. We’re not just selling products or services; we’re offering innovative health solutions that address the root causes of widespread health challenges. Whether it’s coffee or wellness products, every business I operate is driven by the same overarching mission: to create a healthier, more sustainable world.

This mission reflects my core values: integrity, compassion, innovation, empowerment, and sustainability. These values are not just words on paper. They influence everything from how we treat our customers to the way we innovate, collaborate and make decisions in each of my businesses. By aligning all of my ventures with these values, I’ve created a unified force that transcends industry boundaries and serves a larger, more impactful purpose.

Bringing 22 businesses under one unified mission wasn’t an overnight success, but it’s something any entrepreneur can achieve, no matter how many ventures you manage or how varied they are. The key is having clarity on your mission and values, and ensuring they are woven into the fabric of every business you operate.

Related: 4 Essentials for Making Your Company Mission Thrive

The journey of defining your mission

When I first began the process of unifying my businesses, it was not as simple as writing a catchy mission statement. It began with deep reflection — looking back on my experiences, my values and the true reason I started my businesses in the first place. I wanted to create more than just profitable companies. I wanted to make a lasting, positive impact on the world.

To refine this mission, I engaged with my team, family and close colleagues. Their input was invaluable. It wasn’t just about what I wanted to achieve personally, but about creating something that resonated with everyone who was part of this journey. A mission needs to reflect the collective vision of those who are involved, not just the individual aspirations of one person.

The key takeaway here is that a unified mission doesn’t have to come together perfectly from the start. Your mission should evolve as you grow, just like your businesses. I learned that through iterations. Initially, my mission was focused on specific aspects of health and wellness. As I brought more businesses into the fold, my mission grew and became broader, eventually uniting all of them under one umbrella. The important thing is to keep refining and adapting your mission as your businesses grow and the world around you changes. A mission is not static; it’s a living, breathing entity that should evolve with your business.

Why a unified mission is more than just words

A mission statement is more than just a nice phrase to put on your website or business plan. It’s the backbone of your company’s culture, decision-making and impact. When I first started consolidating the missions of my businesses, I had to ensure that each business’s unique product offerings still aligned with the larger goal. It was about finding common ground — the core values that tied everything together.

Defining those core values was an essential part of this process. Core values should not just be aspirational; they need to be actionable. For example, if sustainability is one of your core values, you need to make sure every business you run reflects this value in tangible ways — whether through eco-friendly sourcing, energy-efficient operations or supporting sustainable communities. You can’t simply talk the talk; you have to walk the walk.

For me, integrating core values into the mission became the key to bringing my businesses together. We didn’t just state our values; we created a framework to ensure every decision made within our businesses was in alignment with them. It took time, and there were some challenges along the way, but seeing how these values have influenced both my businesses and the communities we serve has been incredibly rewarding.

The impact of a unified mission on your business portfolio

One of the most profound benefits of unifying multiple businesses under one mission is the impact it has on your overall brand and identity. With all of my companies moving toward the same goal, I’ve been able to leverage synergies between businesses and create stronger partnerships, both internally and externally. Stakeholders, customers and partners now know what to expect from us because we operate under a unified set of principles that guide everything we do.

It’s also helped streamline our operations. Each decision we make, from product development to marketing strategies, is framed through the lens of our mission and core values. We don’t just focus on short-term gains; we’re always looking ahead, thinking about how each business can contribute to our long-term goal of improving global health and wellness.

Related: How to Develop a Company Vision and Values That Employees Buy Into

Building a unified mission for your own businesses

If you’re managing multiple businesses and struggling to align them under one common mission, take a step back and ask yourself: What is the larger purpose that drives all of my ventures? What values do I want to see reflected in each of my businesses? Defining these key elements and ensuring they are consistently applied across your businesses will help you create a unified force that is more impactful and resilient.

Remember, it’s not about forcing every business to be identical. It’s about aligning them under a shared mission and set of values that guide everything you do. A unified mission creates purpose, fosters collaboration and helps you build a stronger brand with lasting influence.

The journey of unifying your businesses will take time, but it’s an investment that will pay off in ways you can’t yet imagine.

Ever wondered why someone drops five figures on a purse, six figures on a watch or seven figures on a sports car without blinking? I’ve spent 15 years in the trenches of luxury marketing, and what I’ve discovered will change how you view the ultra-wealthy forever.

When that CEO purchases a Patek Philippe, he’s not buying a timepiece — he’s buying validation of his success story. When that entrepreneur invests in a limited-edition handbag, she’s not just acquiring leather and hardware — she’s affirming her place in an exclusive community.

I’ve sat across from clients who’ve spent more on single purchases than most people’s annual salaries. And when I ask them why, their answers reveal everything:

“Because this reflects who I am.”

“Because I’ve earned this.”

“Because this represents my journey.”

Here’s the truth: Luxury isn’t about objects. It’s about identity confirmation.

Let’s explore.

Related: Tap Into the Growing Luxury Market By Understanding the Buyers

The psychology driving seven-figure purchases

Beneath every significant luxury purchase lies a triad of psychological forces that most entrepreneurs completely miss:

The Scarcity Principle: Desirability increases in direct proportion to perceived exclusivity. When acquisition requires both means and access, the object transcends mere expense and becomes genuinely coveted.

I’ve watched brands destroy their legacy by expanding too quickly, trading exclusivity for short-term profits. The fall from luxury to ordinary happens fast, and recovery is nearly impossible.

The Identity Confirmation Effect: Affluent consumers don’t acquire possessions to reinvent themselves; they select items that authenticate who they already believe themselves to be.

The ideal luxury acquisition doesn’t transform identity — it crystallizes and validates it.

The Belonging-Distinction Paradox: Sophisticated consumers navigate seemingly contradictory desires: membership in exclusive circles while maintaining individual distinctiveness within them.

This elegant tension explains why personalization has become the cornerstone of contemporary luxury offerings.

3 types of luxury buyers you must understand

The monolithic luxury consumer of yesteryear has evolved into three distinct archetypes:

The Classic Connoisseur: For these traditional luxury patrons, heritage isn’t just a marketing angle — it’s the primary currency. They don’t simply acquire possessions; they curate legacies. These collectors gravitate toward established houses like Rolex and Hermès, where each stitch and mechanism carries the weight of historical significance.

The Next-Gen Affluent: While their predecessors collected objects, these younger luxury consumers collect moments. For millennials and Gen Z, a brand’s values have become as important as its craftsmanship. They expect digital fluency, sustainability credentials and narratives that align with their personal identities.

The Self-Made Elite: These first-generation wealth creators view luxury as both a reward and a reflection of their journey. Having built their fortunes through entrepreneurship or professional excellence, they seek brands that mirror their achievement narrative. For them, personalization isn’t a premium feature — it’s a baseline expectation.

Related: 4 Simple Strategies for Influencing the Affluent

3 strategies that actually move the needle

After years in this space, here’s what truly works:

1. Cultivate authentic exclusivity: Discerning consumers detect manufactured scarcity with remarkable precision. When Hermès maintains a waiting list for signature creations, they’re not merely limiting distribution — they’re creating an attainment journey that becomes integral to the acquisition’s value.

I’ve witnessed brands destroy this delicate balance by over-expanding distribution channels, trading long-term desirability for short-term profits. The consequence? A swift descent from exclusive to accessible — luxury’s cardinal sin.

2. Offer access, not merely products: Consider this luxury paradox: what affluent individuals value most profoundly cannot be directly purchased.

When auction houses arrange private viewings or automotive manufacturers offer exclusive experiences with upcoming models, they’re creating moments more valuable than any tangible product. These experiences become social currency that affirms membership in a rarified community.

3. Integrate digital excellence with physical perfection: The notion that digital presence dilutes luxury allure has been definitively retired. Today’s elite consumers expect seamless integration between physical craftsmanship and digital convenience. What matters isn’t the channel but the consistency of excellence across every interaction.

The future of luxury is evolving now

Three significant transformations are redefining the luxury landscape:

First, the demographic composition of luxury consumers is evolving profoundly. Younger affluent individuals approach luxury with fundamentally different priorities — valuing experience over possession, purpose over prestige and authenticity over heritage.

Second, geographic centers of luxury consumption continue to evolve, with Asian markets not merely expanding but reimagining luxury through distinctive cultural lenses and purchasing patterns.

Third, women now influence the majority of luxury purchasing decisions, yet many brands continue designing experiences primarily with male consumers in mind. This misalignment creates a substantial opportunity for entrepreneurs willing to recalibrate their approach.

The sustainability imperative

Perhaps the most compelling development in contemporary luxury is the ascendance of conscious consumption among the ultra-affluent.

When Stella McCartney pioneered ethical luxury, skeptics questioned whether sustainability and premium positioning could coexist. That discussion has concluded definitively. Brands that neglect sustainability considerations now do so at considerable strategic risk.

Related: Making Loyal Customers Out of Self-Made Millionaires

The bottom line for entrepreneurs

In luxury marketing, we’re not selling products. We’re curating belonging.

Let that sink in.

Every time someone drops six figures on a bespoke travel experience or seven on a private chef residency, they’re buying membership into an identity, a community, a story.

When you get this right — when you create those extraordinary moments of belonging — something magical happens.

I’ve seen it firsthand. And let me tell you, there’s nothing more powerful than watching the ultra-wealthy fight for a chance to be part of what you’ve built.

As small and midsize businesses (SMBs) continue to face economic challenges, reducing software costs has become a significant focus for entrepreneurs and small-business owners. Approximately 60% of SMBs actively price shop for technology and software and are looking for cost-effective solutions without compromising on quality, according to data from McKinsey.

Going back to the software basics could be one way to cut costs. For a limited time, you can grab Microsoft Office Professional Plus 2019 for Windows for just $29.97 (reg. $229).

This lifetime license gives business professionals the essential tools they need, from Word to Excel, PowerPoint, and more, without ongoing subscriptions or unexpected renewal fees. For those who aren’t ready to upgrade their operating systems or who prefer predictable, one-time costs, this offer can be a game changer.

While it’s not the latest version, Office 2019 is still packed with value and perfect for those who don’t need all the cloud-based features of Office 365. Whether you’re a small-business owner, freelancer, or IT professional, this deal provides a robust suite of tools to boost productivity, security, and flexibility—all while staying offline and keeping your data on your terms.

For professionals on a budget, Office 2019 offers a lifetime license—pay once, use forever. Unlike Office 365’s subscription model, there’s no need to worry about ongoing monthly fees or surprise price hikes. For entrepreneurs looking to manage costs, this ensures you know exactly what you’re paying and when, with no hidden fees down the line.

For Windows users, Office Professional 2019 works with Windows 10 or 11.

Office 2019 introduces several new features to enhance productivity. Improved inking tools offer a more natural and intuitive experience across applications. Excel benefits from new data analysis tools, including additional formulas and charts, facilitating better data visualization and analysis.

PowerPoint incorporates advanced presentation features like Morph and Zoom, enabling the creation of dynamic and engaging presentations.

Why this deal is worth it

Securing Microsoft Office Professional Plus 2019 at this discounted rate provides exceptional value. The suite’s comprehensive tools cater to various professional requirements, from document creation to data analysis and presentation design. The one-time purchase model eliminates the hassle of subscription renewals and offers long-term stability. Additionally, owning a lifetime license gives you continuous access to these essential tools without additional costs, making it a prudent investment for professionals and businesses seeking cost-effective productivity solutions.

Don’t miss this limited-time pay-once offer on MS Office Professional 2019 for Windows: just $29.97 (reg. $229).

StackSocial prices subject to change.

Real estate entrepreneur and investor Barbara Corcoran says there are only two kinds of people at work: expanders and containers.

“And you’re going to need both if you’re planning to build a big business,” Corcoran recently told her Instagram followers.

The longtime “Shark Tank” star pioneered the “expander” and “container” practice in business decades ago and explained this week why the concept has been so successful for her.

Related: ‘I’m the Best Boss I’ve Ever Met’: Barbara Corcoran Says It Takes One Principle to Be a Good Boss

“I use that formula in everything I do,” Corcoran said. “I never opened another office again without hiring an expander and right by their side, a container. They are equally important people.”

An expander, Corcoran says, can see “what’s around the corner.” She calls this type of worker “very outward facing” — they aren’t afraid of risks and put themselves out there to do what’s best for the business.

“They like to spend money,” she said. “They like to try new things.”

Related: ‘He’s Doing More Business Than All the Sharks Combined’: How Crash Champions’ CEO Grew From One Location to $3 Billion in Revenue

Containers, on the other hand, have a more numbers-oriented skill set that can appear more buttoned-up from the outside.

“They’re great at working with the bank. They’re great at systems. They know personnel,” Corcoran said. “They’re very good with people in a containment way to control your business.”

Corcoran then shared how she came up with the concept before she grew and sold her company, The Corcoran Group, for $66 million in 2001.

Who Was Barbara Corcoran’s Business Partner and ‘Container’?

Corcoran wrote about her longtime business partner, Esther Kaplan, on LinkedIn in 2011.

On Instagram this week, Corcoran shared how they met when Kaplan came into Corcoran’s office looking for a job in real estate.

“I gave her my business card not planning to hire her,” Corcoran said of their initial meeting. “I told her I’d call her when something opened, which I really didn’t mean, and she took my card.”

Related: ‘Better Negotiation Position’: Barbara Corcoran Says Do These 2 Things When Asking For a Raise at Work

But that’s when Corcoran saw something she missed in their initial encounter.

“She tipped her purse in my direction, and her purse was divided into partitions with colorful labels on each partition,” Corcoran said. “I had never seen a more organized woman.”

Corcoran “hired her on the spot” and the duo became business partners.

Kaplan was a container, and Corcoran was an expander. The women had found their business counterparts in each other.

Related: Why Barbara Corcoran Chose Her Business Partner After Looking Inside Her Purse: ‘Best Hire I Ever Made’

“She worked with the banks and the credit lines, ran the personnel department, and put us on a computer system first,” Corcoran said. “She did anything that needed a system.”

This left Corcoran “free to recruit salespeople,” work on public relations, and “build a big business because of my big mouth,” she said.

“I was never afraid of risk, and [Kaplan] contained my risk by controlling the money,” Corcoran said. “We were perfect partners, and together we built a very big business.”