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Barbara Corcoran - Turning $1,000 to $66M

Barbara Corcoran and Martin Stevens of Forum PublishingInterestingly enough, Barbara Corcoran has a story that many fledgling entrepreneurs could relate to. While many see only her successes in the various ventures she has had during her business career, the truth is that she was a “D” student in both high school and college and had twenty jobs by the time she turned twenty-three! Not what most people think.

 

It was the next job that made her one of the most successful entrepreneurs in the country when she got a $1000 loan and started the Corcoran Group parlaying that loan into a five –billion dollar real estate business that she sold for $66 million in 2001.

 

She recently hosted a seminar on business and igniting your vision in New York City, hosted by the World of Business Ideas group and shared some of her experiences with the group.

 

Born one of ten children, Barbara credits her working-class mom with shaping who she is today. Working on your strengths and following what you are good at was a keystone of her own success. When Corcoran Group was founded it was Barbara’s insight on marketing and motivating people that created the success of the firm, not her ability to sell real estate, which was not her passion or interest. She developed a top notch sales team, treated them properly and learned how to work with the media to take the small unknown company to national headlines.

 

She shared that replicating the happy family that she grew up in to the business world was what ultimately made her business and her future business ventures successful.  She made sure that working for her firm was fun but her employees also were aware that she was a serious businessperson and non-producers were warned and then quickly moved out of the firm.

 

One of the points Barbara made was that if you have a non-producer in your business you need to identify the person, work with them to improve but be prepared with a time limit to cut the person loose if they do not step up.

 

Barbara’s approach is fun, but she is a serious and devoted businessperson with a no-nonsense approach that was evident during the seminars Q&A period where answers were unfiltered and direct.

 

Barbara Corcoran continues to be a major industry player as a regular contributor to NBC’s Today Show, writer of several best -selling books and  as a celebrity investor on ABC’s popular Shark Tank show.

Forum Publishing hopes you enjoy reading about your fellow entrepreneurs who help shape our industry.