In a capitalistic world, your worth is tied to the amount of capital you acquire.
There are many ways you can do that; A) getting a steady 9-5 job, B) starting an investment chain, C) launching your own business, or D) all of the above.
Out of all these options, one of the most popular ones right now is starting your own business. This concept comes with an initial investment in a product or a plan and then marketing it out. Once it hits off, all the profits are yours to keep.
Starting a business is no easy task, and if there is anyone who knows about running a successful business, it’s Barbara Corcoran.
Meet Barbara Corcoran
The founder of the real estate brokerage ‘The Corcoran Group’ and executive producer and a ‘shark’ on ABC’s ‘Shark Tank,’ Barbara Corcoran is not your average entrepreneur. She is also the author of ‘Shark Tales: How I Turned $1000 into a Billion Dollar Business!’ And you best believe that Corcoran knows what she is talking about. Her hat boasts two additional feathers with her status as a motivational speaker and media personality.
A major part of her work revolves around connecting with people with business ideas and funding them. Over her many years of experience, she has come across several business ideas, some of which touched new heights while others didn’t hit the mark.
So, here are some things you need to learn from Barbara Corcoran.
A Must-Have Skill
When talking about a skill that contributed to her success, Corcoran mentioned that creativity is crucial. Despite having an amazing imagination, she was always considered to be the ‘dumb student.’ However, as she grew older, she realized she had a great imagination and energy to outwork and outdo anyone and anything. So, in the end, it all boils down to what you can make of your situation.
Will you continue to live in your shell, or will you break barriers?
Best Generic Advice
Keep moving, Corcoran said, as she recalled the time when she was just starting out. It doesn’t matter whether you are a man or a woman, you have to see everyone through one lens – that being the lens of competition. You should consider yourself a contender in a race wherein you are competing against many people. Some might even insult you or intentionally cause you harm, but you have to keep working and let your success do the talking.
Best Money Advice
Barbara is not ashamed to admit that she is not the best at making money. However, she has mastered the art of spending wisely, which is something she advocates for even at The Corcoran Group. One way she spends her money wisely is by investing in her team, ensuring their innovation and creativity are at an all-time high by allowing them to enjoy, cool off, and have some fun. Corcoran states that these activities don’t even cost much, yet they pay off in major ways.
So, what do you think of what Barbara has to say? Do you enjoy her approach to starting businesses?