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: Recipe for Success2:34
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: How Perception Creates Reality8:09
Barbara Corcoran learned early the value of always making her business appear bigger, more successful, and specialized, than it was.
Demand: Everybody Wants What Everybody Wants5:26
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: Expand Before You're Ready1:52
The absolute best time to expand "is when everybody's asleep at the wheel, and agrees it's a bad time."
Turnover: Shoot the Dogs Early5:38
In real estate, Barbara Corcoran fired the bottom 25% of her sales staff every six months.
People: Expanders or Containers4:57
Hire a business partner who has opposite talents and skill sets.
Gold: Recognition Motivates Better Than Money4:56
Barbara Corcoran describes the power of gold ribbons and trophies to galvanize employees.
Culture: Fun is Good for Business4:04
Barbara Corcoran talks about a Harlem bus ride, cross-dressing parties, and other bizarre efforts to foster company culture and lore.
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