Barbara Corocoran was not always wealthy. In fact, as she revealed in a Youtube video, she did not become a millionaire until the age of 46. It took Corcoran years to turn $1,000 into a $66 million empire, which is the most she has made due to her selling business, the Corcoran group.
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For Corcoran, it all came down to timing, as well as a few other factors that turned her into a millionaire. Here are top lessons from Corcoran that you can use not just in business, but in everyday scenarios, interactions and relationships.
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Learn To Listen
As an up and coming real estate agent, Corocoran knew when to keep her mouth shut and listen to what her clients were saying, as well as what they were not saying. If you are in business, you have to read between the lines of what buyers say they want to find out what they really desire.
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Timing Is Key
Cororan recalled that at one point in her career, she almost sold the Corcoran Group for $2 million instead of $66 million. She turned down the offer, waited two years for a price that suited her liking, then made the historic deal that crowned her one of the biggest entrepreneurs in New York City, noting that “timing is everything.”
Invest In People
There’s smart business investments to put your money behind, however, Corcoran viewed investing in people as a better strategy to expand wealth. If you can trust people to make money with you, then you have friends and business partners who only lift you and your portfolio up higher.
Build Resiliency
When it comes to entrepreneurs that Corcoran wants to financially back, she pointed out that what usually seals the deal is the person’s ability to get knocked down, then get back up. This could be a trait that one learns over time, though Corcoran’s gut tells her when someone with a vision is born with a thick skin.
Money Comes and Goes
Corcoran pointed out that over the course of her career, she has lost money, but that does not keep her up at night. It all comes down to when you have money and what you do with it, which Corcoran recommends living life to fullest if you are not investing toward your financial future.
Stand Up for Yourself
In business and in life, it’s important to always bet on yourself, Corcoran said. To her, this meant standing up and proving herself even when huge figures in business doubted her ability to deliver a sale or make a name for herself. “You have to stand up for yourself,” Corcoran explained. “The minute you have doubt, you should use it for motivation and push ahead.”
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This article originally appeared on GOBankingRates.com: ‘Timing Is Everything’: 6 Lessons To Take From Barbara Corcoran
