In this article we are going to discuss Shark Tank celebrity Barbara Corcoran and life lessons we learn from her.
Who is Barbara Corcoran?
Barbara Ann Corcoran is an American businessperson, investor, consultant, speaker, author, syndicated columnist, and television personality. She established The Corcoran Group, a real estate brokerage in New York City. She is now a television celebrity as a Shark investor on ABC’s Shark Tank. She has been holding this position for 11 seasons.
Corcoran is a columnist for More, The Daily Review, and Redbook. She has penned down numerous books and has been featured on Larry King Live, NBC’s Today show hosts The Millionaire Broker with Barbara Corcoran on CNBC. She also writes a weekly column in the New York Daily News, and also is a speaker and consultant.
How old is Barbara Corcoran?
Barbara Corcoran was born on March 10, 1949, Corcoran is a graceful lady of 71 years old.
Barbara Corcoran Net Worth:
Barbara mentioned in a recent podcast with Mark Cuban that she sold her business back in 2001 for $66 million. She began her business with just $1000 and converted it into millions. The millionaire also tells when she sold her business she was “frightened stiff” and “didn’t spend a dime of it for two years so she could protect her money.” Today most up-to-date calculations say that her net worth is $80 million.
According to Variety, the Sharks on Shark Tank get an approximated $50K per episode. With 24 episodes a season that sums on $1.2 million per year. Since the show has been broadcasting for 10 years, that is an extra $12 million per shark.
How did Barbara Corcoran start?
Barbara secured straight Ds in high school and college and had switched 20 jobs by the time when she was just at the age of 23. But her following job carried name and luck when she borrowed $1,000 from her then-boyfriend to begin her own brokerage business, The Corcoran Group, providing him 51% possession.
Later, when they broke-up, Barbara tells she did not immediately have the fortitude to walk away from the business and from the ex who believed in her and initiated her on the way to success. However, after a year of getting over her relationship, she gathered up the courage to get out and took half the workers with her.
What happened to Barbara Corcoran on Shark Tank?
Shark Tank Host Barbara Corcoran suffers from $380,000 in an Email Scam. The scammers managed to create an email address that seemed like it related to Corcoran’s assistant but was misspelled by just one letter.
The email received a fake invoice from FFH Concept GmbH that is a legitimate German company—for $388,700.11 for real estate renovations, which did not build any fears because Corcoran invests in real estate.
Assuming nothing was unusual, the bookkeeper wired the money to the account posted in the email. The scam was only revealed when the bookkeeper copied Corcoran’s real assistant on a reply to the original invoice.
The kind of scam Corcoran went through is named as a spear-phishing attack. These fraudulent emails use particular language to target a single organization or person in order to trick recipients into sending money or personal information. It is a popular technique employed by hackers against large businesses. According to cybersecurity firm Cybint, 62% of businesses faced phishing or social engineering attacks in 2018.
Lessons You Can Learn From Shark Tank’s Barbara Corcoran
Barbara Corcoran’s life is a real rags-to-riches tale. And now, at age 71, Corcoran’s legacy is evidence that no barrier is too high to jump from it.
- Your Past Does Not Represent You:
Barbara Corcoran grew up in a less privileged environment with her mother and nine siblings. Instead of accepting her luck of being poor, Corcoran has regularly stated her faith that growing up poor is a “key ingredient for success.” “Poor kids,” she asserts, “have nothing to lose, and nowhere to go but up.”
Against all odds, Corcoran declined to let disadvantage get in the way of her progress. Even when her husband abandoned her for a coworker, she rejected letting failure stand in the way of her goals.
By glancing at her life experiences, we can understand that trials and disappointments are not essentially bad: they can work as strong motivators for success. Finally, Barbara Corcoran proves that no matter your circumstances, you have the power to make a change
- Every Defeat Is Fuel For The Flame:
You wouldn’t believe Corcoran, with her tremendous achievement and powerful net worth, to suggest to herself as the Queen of Failure. Many who know her story would say she is quite the inverse: she served in 22 jobs by the age of 23 before beginning her real estate empire with just $1,000. But it’s the truth. Corcoran has even said, “Failure is what I’m best at.”
In 2008, Corcoran tried out for ABC’s “Shark Tank.” Days before she was set to travel to L.A. for the job, however, the show told Corcoran that they’d worked with someone else.
Not one to back down in the face of refusal, she emailed the producer directly, giving details about other times in her life where she’d been replaced or rejected. She ended the message with “I consider your rejection a lucky charm,” and let them comprehend she’d booked a flight to L.A. and would like another chance.
- Never Give Up:
You will not know what you are made of until you go through a struggle. The meaningful takeaway from Barbara Corcoran’s rich life experiences is this: no matter how hopeless things look or how many times you believe you have failed; you have got to keep growing back up.
How Did Barbara Corcoran Become Rich?
After serving 22 jobs, a waitressing job was the one that helped Cocoran to become rich. A customer who soon became her boyfriend and the business partner saw Cocoron’s great personality. He pointed out that she would be exceptional in real estate and as we all know now, he was accurate.
Within two years Cocoran’s company had 14 agents and a half million dollars in sales, but while business was flourishing, her personal life took a turn for the more unfortunate. Five years in, Cocoran’s boyfriend and business partner declared he was marrying her secretary. He told Cocoran, “You’ll never succeed without me.” But she showed him wrong.
By 2001, The Corcoran Group had more trades than any other rival in New York City, meaning Cocoran’s goal of becoming the queen of New York real estate became true. Sadly, her success brought more difficulties. She was fighting against enormous companies controlled by men, facing the boys club head-on. But instead of allowing this stop her, Corcoran observed being a woman in business as a great asset. “I was different than the old guys I was competing with.” That difference segregated her from the rest and eventually made her business ever more prosperous.
So, these are some of the information you must follow which will be enough to encourage you for the difficulties in life.