Barbara Corcoran's 8 Lessons for Entrepreneurs
In 1973, Barbara Corcoran took $1,000 and started a real-estate business. She sold the Corcoran Group for $66 million in 2001.
Highlights Barbara Corcoran started her real estate business with a boyfriend, who later ran off with her secretary. But what he told her forever drove her.
Baloney Barbara Corcoran learned early the value of always making her business appear bigger, more successful, and specialized, than it was.
Demand In the early 1990s, about to go out of business amidst a tough real estate market, Barbara Corcoran figured out a way to create consumer interest. She held a "private" sale.
Opportunity The absolute best time to expand "is when everybody's asleep at the wheel, and agrees it's a bad time."
Turnover In real estate, Barbara Corcoran fired the bottom 25% of her sales staff every six months.
People Hire a business partner who has opposite talents and skill sets.
Gold Barbara Corcoran describes the power of gold ribbons and trophies to galvanize employees.
Culture Barbara Corcoran talks about a Harlem bus ride, cross-dressing parties, and other bizarre efforts to foster company culture and lore.
Courage A childhood lesson gave Barbara Corcoran the nerve to jump and see what happens.