Taking advice from Barbara Corcoran makes a lot of sense. After all, the real estate mogul and one of the mainstays on ABC’s hit reality show Shark Tank turned $1,000 into a billion dollar business with nothing but sheer determination of will. It’s clear that she knows what it takes to make it in the world.
Who is Barbara Corcoran?
Barbara Corcoran | Shark Tank via Facebook
Barbara Corcoran once said that growing up poor makes you hungrier, and she might be right. She was born in the factory town of Edgewater, New Jersey and shared a single bedroom in a tiny apartment with her nine siblings. Now she’s a self-made millionaire and has said, “I have to pinch myself at times to make sure it’s all real because everything I dreamt about from the time I was a little kid to now has come true for me.”
She was working as a waitress in a diner when she decided to leave her old life behind and start to live on her own terms. With a $1,000 loan from a boyfriend, she started a tiny real estate office in New York City which she eventually grew into a bona fide financial success. Within two years, the agency she started had 14 employees and $500,000 in sales. However, things took a turn for the worse in Corcoran’s personal life.
Barbara Corcoran had something to prove
Even as her business was succeeding beyond her wildest dreams, her personal life was going badly. Corcoran’s boyfriend – the one she borrowed money from to start the business – left her and decided to marry her secretary. He also told her, “You’ll never succeed without me.” That’s when Barbara decided to prove him wrong.
Being good at business isn’t based on gender
Barbara Corcoran never let her gender hold her back. In fact, she worked harder because she was a woman. That’s why she’s been giving out the controversial advice that women should act a certain way to get ahead.
“Women should pretend they’re a man, because men do negotiate better,” Corcoran told Yahoo Finance.
How can women get equal pay?
According to Corcoran, women need to be aggressive if they want to be treated fairly at work and in business. That means asking for what they want directly and not being polite.
“Women tend to want to please more,” Corcoran said. “Most men really want to cut to the chase and get what they want.” But that’s not how things get done. As she puts it: “When I want something, I raise my hand and stand up.”
Are men or women better investors?
Even if you’re not starting your own business and making money as an entrepreneur like Barbara Corcoran, there are some key strategies you can use to accrue the most money over your career. But one recent MarketWatch article disagrees with Corcoran’s assessment that women should behave like men in order to do so.
“While I respect Corcoran for her go-get-’em approach, the data clearly shows that it’s women — not men — who make better investors,” the article says. Apparently, the more ‘female’ approach of holding back and investing in low-risk stocks has a higher long-term return on investment. Men are more likely to trade stocks as a way of “going after what they want.” Women, meanwhile, will play the long game and can double their long-term savings by doing so.
Who makes more money – men or women?
When it comes down to it, there is no right or wrong way to make money, and both men and women have a chance to grow their wealth. But before you seek out a gender-based strategy, it’s important to figure out what your strengths are and exactly what you want.
Then go get it, Barbara Corcoran style.
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