Barbara Corcoran can still remember many of the sweatinducing moments in her climb to becoming the Queen of New York Real Estate . Business leaders looked to her as someone with a mind for sales-focused growth and innovation , while Corcoran claims she used childhood lessons from her Irish-Catholic parents and a competitive spirit spurred on by insults and undiagnosed dyslexia to push herself to innovative ideas that would serve as her lifeline .
Whatever the case , something worked for the self-made millionaire who transformed herself from waitress to business powerhouse .
Corcoran has faced many recessions during her decades-long rise to the top of New York City ’ s real estate market , and whenever the challenges seemed unrelenting , she always had an idea to surge her company , Corcoran Group , forward .
Says Corcoran : “ I don ’ t think you can sharpshoot in business . I think you have to throw a heck of a lot on the wall and see what sticks . If we could all sharpshoot , we could all be geniuses . A lot of stuff didn ’ t stick , [ but ] I was willing to keep going and going .”
Her success was founded in the roots of her family ’ s small home , where she shared a room with her five sisters . Later , it was ignited by a former business partner turned ex-boyfriend . With many dips in the market , Barbara still managed to sell Corcoran Group for $ 66 million , and she continues her business ventures through ABC ’ s “ Shark Tank .” Corcoran has invested in more than 80 businesses , books and talk shows , and she gladly shares her expertise with fledgling entrepreneurs whose shoes she once shakily stood in .
Corcoran recently discussed her climb . From a communal sock drawer with her siblings to a $ 10-million penthouse overlooking the very home she grew up in and the city she dominated , she shares her secrets with readers .
Corcoran ’ s unique sales tactics and “ throw everything at the wall ” attitude positioned her real estate company in the best spot for a future acquisition , and her legacy continues with the group ’ s ever-expanding national influence . For business owners and leaders in need of a jump-start for their sales team and a foundation on which to build a legacy , Corcoran ’ s experiences and expertise can serve as a guide to lasting success .
FROM PIGTAILS TO THE CROWN
As her class took turns reading aloud , Corcoran could feel the pit in her stomach grow . She was just a kid , but it seemed like everyone else her age knew how to read . It was like deciphering a code for Corcoran , who was called “ stupid ” by one of the nuns at her Catholic school in seventh grade because she couldn ’ t read .
Later , Corcoran was diagnosed with dyslexia , but in school , she maintained a D- average and mastered observation . Bubbly and expressive , Corcoran has always had a way with people , and she used these skills to learn about her surroundings and watch to see if people noticed she was struggling to read . She didn ’ t want to face humiliation yet again for her academic troubles .
After high school , Corcoran earned her teaching degree , but after one year , she found herself bouncing from job to job . By the time she was waitressing at a diner , she was on her 20th job at just 23 years old .
Waitressing energized Corcoran , who is a people person , but in a job that ’ s all about getting tips , she was losing . Her competition was the Dolly Parton-type , whose large breasts attracted men and increased tips . Feeling defeated , Corcoran thought her self-described “ plain ” look could never compete . Then , her mom gave Corcoran her first lesson in marketing .
Says Corcoran : “ My mom said , ‘ Why don ’ t you braid your hair and put red bows in to match your uniform .’ And I did , and son of a gun , that was exactly the night that Ramone Simone walked in and offered me a ride home .”
Simone and Corcoran immediately hit it off , and for the next seven years , the duo dipped into the New York City real estate market and became romantically involved . Simone was the first one to suggest that Corcoran try real estate , noting her uncanny ability to relate to nearly everyone she met . Simone urged Corcoran further , even going so far as to give her the $ 1,000 she needed to start her own agency .
As a girl from New Jersey suddenly competing in one of the world ’ s most famous cities , Corcoran was in a league she had never experienced before .
Says Corcoran : “ I got set free outside the diner , and I schmoozed people all day . I really enjoyed people … I was just very energetic , showed them a lot , and talked all the time . I did very well in sales .”
But her fatal flaw , Corcoran now admits , was crediting Simone with the success she was building . In her mind , Simone had rescued her from her blue-collar life and ushered her into the glitzy world of New York City . He had even given her $ 100 to spend on a “ real New York outfit .” She had never had new clothes in her life and readily ate up the chance .
THEN , IT ALL CAME CRASHING DOWN
One night , Simone approached Corcoran as she was making pasta for his children and explained that he was going to marry her secretary . Just as quickly as she had been noticed by Simone in the diner , she was dropped . This time , Simone had no idea what kind of firestorm he was creating .
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