Faith Hope Consolo, Chairman, Retail Leasing and Sales Division, Prudential Douglas Elliman Real Estate
What do you need to be an entrepreneur?
Determination and a great idea, not
necessarily in that order. Entrepreneurs really are a breed apart.
What did inspire you to start your business?
My first endeavor as an entrepreneur was
staring my own modeling agency in college. I saw a need, and being a bit of a
performer myself at that time, figured out a way to fill it. Alas, I wasn't
tall enough to be a model myself. But I sold the agency after graduation for a
nice sum to start my life!
How did you finance it?
Given that I was acting as an agent, not
manufacturing something, I could self-finance.
Being Hispanic…Does it have any influence on
your business?
I'm not Hispanic -- I'm of Italian and English
ancestry. But I work with a number of Latino and Latina businesses, and while I hate to
generalize, I do find that there is a unique drive to succeed in this huge
community. The U.S.
is now one of the largest Spanish-speaking countries in the world, of course,
and that opportunity galvanizes entrepreneurs.
In the face of adversity, how do you decide to
keep going?
What other decision is there? As have we all,
I've faced obstacles both personal and professional -- losing both my parents
before I was a teenager, being a woman with no business connections in a very
male-dominated industry. I simply got up each day, worked harder than everyone
else and didn't take no for an answer.
What is the biggest challenge your business
has faced?
Certainly the last economic downturn could
have been a tremendous problem -- particularly in motivating staff. We went
back to basics, pounded the pavement, and instead had some of our most
successful years.
If you could change one thing about your
business, what would it be?
Even more business for me??
What was your childhood ambition?
I wanted to be an actress -- and in New York real estate, we
all are!
Tell us about three entrepreneurs that you
admire?
Larry Silverstein, Mary Kay, Salma Hayek
For business meetings: breakfast, lunch, or
dinner?
Dinner! I avoid morning meetings if at all
possible.
What sacrifices on your personal life did you
have to make in order to become a business success?
I work 24/7, and some friendships did sort of
fade away. But I'm not sure 'sacrifice" is the right word -- it's more
like prioritizing. My friend Elaine Wynn once said "You can have it all --
you just can't have it all, all at the same time." I've been a successful
businesswoman, a wife, a stepmother, a mentor, student, friend .. just not
all at the same time. I haven't sacrificed anything.
What is your favorite quote?
"Why not?"
Is it difficult to be unconventional?
No. I don't think I'm that unconventional, but
being a pioneer is just what I've done.
Biggest mistake made?
I'm not a person who regrets -- every
decision, even one that doesn't work out, is a learning experience.
Do you consider yourself an innovator? Why?
I do. There were few women in my industry when
I started, and I work with a number of organizations to help increase our
numbers. I started my own website years before many others in my business did.
I opened a European office for my former company in the 1980s, when
international brokerages were unheard of.
About the Company
Douglas Elliman's Retail Group is the industry
leader in retail leasing, investment sales and consulting. We've brought some
of the most famous names in international retail to the United States, and helped U.S. retailers
expand abroad by offering site selection, negotiation, consulting and even
visual merchandising services. See company site: www.elliman.com
