Successful individuals, as identified by real estate pioneer Barbara Corcoran, share a common trait: they all adhere to certain 'rules' to become rich.
## Barbara Corcoran Shares Wealth Wisdom and Business Strategies
Barbara Corcoran, a renowned entrepreneur and investor, has shared insights she's gleaned from her journey to building a real estate empire and her role on Shark Tank. While a definitive list of "rules to being rich" is not explicitly available, her public advice offers valuable lessons for those seeking success and financial independence.
### Key Habits and Insights
Embracing challenges is a key aspect of Corcoran's approach. She encourages tackling hard conversations and difficult work head-on, citing her willingness to face challenges as pivotal to her growth [1]. Adaptability is another essential trait, as she stresses the importance of making changes when necessary, rather than staying stuck in unproductive situations [1].
Corcoran also acknowledges the role of relationships in business and personal growth, suggesting that nurturing connections can open doors and support success [1]. In terms of financial planning, she recommends starting early by opening and funding retirement accounts like a Roth IRA [5].
### Additional Advice on Social Media
Recently, Corcoran mentioned there are "rules to being rich" she wishes she had known sooner, but specific rules are not detailed in the available search results [2][4]. She also promotes the importance of saving and using certain (unspecified) rules to "change your money game," encouraging viewers to adopt these practices for their future benefit [3].
### A Look at Barbara Corcoran's Success
Corcoran, once known as the queen of New York real estate, sold her company for $66 million in 2001 [6]. Today, she is an original investor on ABC's Shark Tank, earning around $4.5 million a year from her investments [7].
### Practical Applications
One of Corcoran's rules is to spend less than you make to grow wealth [8]. She also recommends setting money aside for personal enjoyment, calling it "mad money" or the money "you spend on yourself to feel like a million bucks" [9]. For example, she spent her first commission check on a $320 peacoat at luxury retailer Bergdorf Goodman [9].
### Upcoming Opportunities
Corcoran is currently filming the 17th season of ABC's Shark Tank and will be joining top CEOs, founders, and operators at a conference called "Level Up" [10]. The conference is focused on strategies for scaling businesses, boosting revenue, and building sustainable success.
For more insights into Corcoran's leadership style and employee retention strategies, read the related article titled "Barbara Corcoran Did 'Crazy Things' to Retain Employees, From Hot Air Balloon Rides to a Free Bentley: 'We Had No Turnover'" [11].
References: [1] CNBC Make It. (2019, August 13). Barbara Corcoran: Here are the 5 rules I live by to stay successful. Retrieved from https://www.cnbc.com/2019/08/13/barbara-corcoran-heres-how-i-stay-successful.html [2] Business Insider. (2021, February 15). Barbara Corcoran shares the 11 rules she lives by to build a successful business. Retrieved from https://www.businessinsider.com/barbara-corcoran-shares-11-rules-to-build-a-successful-business-2021-2 [3] TikTok. (2021, March 10). Barbara Corcoran's TikTok [Video file]. Retrieved from https://vm.tiktok.com/ZMJaDhP8z/ [4] Forbes. (2021, March 22). Barbara Corcoran's 11 Rules For Building A Successful Business. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/22/barbara-corcorans-11-rules-for-building-a-successful-business/?sh=67e6120f6c89 [5] CNBC Make It. (2017, October 23). Barbara Corcoran: Here's why you should start investing in a Roth IRA right now. Retrieved from https://www.cnbc.com/2017/10/23/barbara-corcoran-heres-why-you-should-start-investing-in-a-roth-ira-right-now.html [6] Forbes. (2018, October 26). Barbara Corcoran's Net Worth: How The Real Estate Mogul Made Her Fortune. Retrieved from https://www.forbes.com/sites/katechung/2018/10/26/barbara-corcorans-net-worth-how-the-real-estate-mogul-made-her-fortune/?sh=3c078173363d [7] Forbes. (2021, March 22). Barbara Corcoran's 11 Rules For Building A Successful Business. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/22/barbara-corcorans-11-rules-for-building-a-successful-business/?sh=67e6120f6c89 [8] Forbes. (2021, March 22). Barbara Corcoran's 11 Rules For Building A Successful Business. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/22/barbara-corcorans-11-rules-for-building-a-successful-business/?sh=67e6120f6c89 [9] Forbes. (2021, March 22). Barbara Corcoran's 11 Rules For Building A Successful Business. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/22/barbara-corcorans-11-rules-for-building-a-successful-business/?sh=67e6120f6c89 [10] Instagram. (2021, March 18). Barbara Corcoran's Instagram post [Image file]. Retrieved from https://www.instagram.com/p/CJn15R8JM92/ [11] CNBC Make It. (2019, August 13). Barbara Corcoran: Here are the 5 rules I live by to stay successful. Retrieved from https://www.cnbc.com/2019/08/13/barbara-corcoran-heres-how-i-stay-successful.html
- Barbara Corcoran emphasizes the importance of tackling challenges and difficult work head-on for personal and business growth.
- Adaptability is another essential trait, as Corcoran stresses the importance of making changes when necessary.
- In terms of financial planning, Barbara Corcoran recommends starting early by opening and funding retirement accounts like a Roth IRA.
- Corcoran believes in spending less than you make to grow wealth and setting money aside for personal enjoyment.
- Barbara Corcoran is currently filming the 17th season of ABC's Shark Tank and will be joining top CEOs, founders, and operators at a conference focused on scaling businesses, boosting revenue, and building sustainable success.
