Distilling the Advice of Barbara Corcoran
You’ve seen the show, right? The one where hopeful creators, inventors, and business people parade their products on a national stage, trying to elicit investments in exchange for shares of their businesses.
Say it together: Shark Tank!
The popular show features a handful of incredibly successful entrepreneurs. Mark Cuban, Daymond John, Kevin O’Leary, Robert Herjavec, Barbara Corcoran, and Lori Greiner among others.
Being a Realtor, I’m drawn to the real estate background of Barbara Corcoran. For the unfamiliar, Mrs. Corcoran founded The Corcoran Group, one of the most successful real estate brokerages in New York.
Her bootstrap mentality enabled her to use a $1,000 loan from a boyfriend to build what is now a multi-BILLION dollar brokerage. I recently read the 2003 book that covers this inspiring evolution, which is entitled, “Use What You’ve Got (and Other Business Lessons I Learned from My Mom)”.
Here are my favorite lessons from the book…
1.) “Great salespeople believe their success is only temporary”
Longevity is a product of dedication. Mastering a craft is not an achievement, but a continued effort. We can learn something from everyone everyday, and doing so repeatedly builds our knowledge base. After all, knowledge is the foundation of my value proposition as a Realtor. Without it, I'm no better than Zillow/Trulia/Redfin.
2.) “You have the right to be there”
Why not me? That’s what we need to tell ourselves sometimes. When looking up at someone who is on top of the mountain, it is easy to resign ourselves to being at the bottom. But if we can use that person to motivate and inspire us, and put that energy into each step, we can reach the summit.
3.) “Preparation is the birthplace of confidence”
Here is one we can all relate to. Have you ever walked in to a class to take a test that you didn’t study for? How did you feel? Panicked? Overwhelmed? Certainly not confident. The simple truth is that success is created long before the moment of truth. Diligent studying will produce results come exam day. Running per your training plan will produce results when that marathon comes around. The day of reckoning is the reward; the hard part is the preparation. Lean in!
4.) “Happy people work better”
Ever notice how people who are successful don’t actually mind their jobs? They even enjoy them! This comes from two things: a.) being active and engaged in your profession and b.) finding time outside of work to be fulfilled personally. Do these things and you too could be a person that people respect and admire.
Mrs. Corcoran’s book contains many more valuable pieces of information. Her enthusiasm is contagious and she knows how to motivate! I highly recommend reading “Use What You’ve Got”.