How many times have we been told that we need a lot of money to start a business? The lack of capital or initial funds is one of the foremost reason why many decide to forgo with building an enterprise while others have already sowed that apprehension or fear that they don’t do anything about their dream at all.
Fortunately, we have women like Barbara Corcoran who is telling us that all it needs is a bright idea, a little more faith, great mentors, and hard work. Everything else, including money, will come later.
Barbara Corcoran is considered to be one of the richest women in the world today with net worth amounting to $66 million. Having sold over $6 billion worth of real estate in her carerr, you can safely say that she’s living the high life—the kind that she wanted ever since she was a young girl. However, she wasn’t born on a bed made of wads of bills. Like the rest of the population, she struggled until she reached her goals.
Barbara was born in New Jersey on March 10, 1949. In 1971, she earned her education degree from Saint Thomas Aquinas College. She eventually practiced her profession, but it seemed her mind and heart weren’t really into it. Before long, she left what could have been a stable career and moved to New York City where she hopped from one fruitless job to another. By the time she was 23 years old, she already had more than 15 jobs on her résumé. She was further bothered by the fact that she wasn’t an A-plus student while growing up. Instead, she was lucky to get such grades as most of hers were Ds.
The $1,000 Loan
She, however, was greatly fueled by her dream. If there’s one thing that’s clear to her, it’s that she wanted to be her own boss, set up a company that could guarantee a ticket to richness and a lifetime of opportunities and wealth for her. So she took the risks. She borrowed a $1,000 loan from her boyfriend, which she then used to set up her own business called The Corcoran Group. She focused on the real estate market, which was one of the fastest-growing industries around that time.
Soon, she proved to the market that she was the woman to beat. She published her own trend reports known as The Corcoran Report. It played a huge role in her life as it sealed her level of authority and credibility in the industry. She then became a real estate mogul and a sought-after speaker by the media. She wrote for magazines such as The Daily Review and More Magazine. She also appeared on popular TV shows like Larry King Live.
She later sold the business to NRT Incorporated, but by then, she was already an accomplished woman. The deal, which earned her $66 million, only propelled her to greater heights. Today Barbara has invested in more than 20 businesses. She is currently one of the panelists in Shark Tank TV show, a reality show competition that offers support to great business ideas and start-up businesses. She also shares her secrets to turning $1000 into a billion through her best-selling book, Shark Tales: How I Turned $1,000 into a Billion Dollar Business.