The Life of Barbara Corcoran Challenges and Triumphs

Barbara Corcoran at a LinkedIn Event.

Key Points : Timeline : Facts
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Questions and Answers
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Biography of Barbara Corcoran

Barbara Corcoran is an American businesswoman and TV personality that is mostly known for her appearances on “Shark Tank.” Growing up, Corcoran did not have the easiest childhood, nor did she have the best luck in her personal life.

However, through hard work and dedication, she proved that you could build the life of a millionaire. In this article, we will find out how Barbara built her way toward a successful career.

“A funny thing happens in real estate. When it comes back, it comes back up like gangbusters.” ~ Barbara Corcoran

Early Life and Education

Barbara Corcoran was born on the 10th of March, 1949, in Edgewater, New Jersey. She was the second of 10 children, growing up with five sisters and four brothers in an Irish Catholic family.

Her family was low-to-middle class, which means that her childhood had a lot of hardships.

Corcoran gives credit to her mother for her success, perceiving her as a mentor. During her childhood, her mother was the one who nearly single-handedly took care of her and all of her children.

Her father was semi-employed with an alcohol problem and did not do much to care for them. 

These adversities caused Corcoran to grow up as a woman with a strong will. Her desperation to get out of these poor circumstances pushed Corcoran to focus greatly on her education.

That being said, she still struggled to obtain good grades in school. She eventually found out that she had dyslexia, which added to her underperformance. 

“A complainer is like a Death Eater because there’s a suction of negative energy. You can catch a great attitude from great people.” ~ Barbara Corcoran

Originally, she joined a local New Jersey Catholic elementary school. Later on, she attended the “St. Cecilia High School” in Englewood.

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She dropped out during her freshman year, as she was not able to keep up with her classmates. After changing multiple schools, she eventually finished high school at Leonia High School. 

Corcoran knew that if she wanted to be successful, she needed higher education. Despite getting straight Ds in high school, she decided to pursue education at St. Thomas Aquinas College in Sparkill, New York.

The college was a liberal arts one, and since it was not the best in the city, she managed to get her bachelor’s degree in 1971. 

Founding the Corcoran Group

Immediately after graduating from college, she began working in various business sectors. She took a lot of odd jobs, working as a waitress, receptionist, and saleswoman.

During her first 2-3 years after college, she took about 10 jobs, not sticking to any industry in particular. However, her efforts allowed her to save quite a lot of money. 

In the ‘70s, Corcoran noticed that the real estate industry was beginning to show great potential. At that time, she was dating Ray Simone, which worked as a builder.

After expressing her thoughts on working in real estate, he did some research on the income-generating potential. They both saw the promise in the industry, which is why they decided to start their own real estate company. 

“A whopping 89 percent of buyers start their home search online. How your house looks online is the modern equivalent of ‘curb appeal.’ Rent a wide-angle lens and good lighting, get rid of your clutter and post at least eight great photos to win the beauty contest.” ~ Barbara Corcoran

In 1973, the two launched the company, going with the name “The Corcoran-Simone.” She took a $1,000 loan from Simone, creating what was originally an apartment-locator business. They got this idea because, in the ‘70s, many people were moving into New York. As a result, the business flourished.

Corcoran-Simone connected with a variety of builders and realtors, helping people find suitable apartments based on their income and their needs. In the beginning, they would connect with realtors that offered apartments for rentals. Later, the business direction changed.

While running her business, Corcoran was constantly looking for different ways to make more money. When she once showed a wealthy engineer an apartment that they had listed, he offered to buy it instead of just renting it.

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This was the first sale they made, earning the company a $3000 commission. Then, she convinced Simone that selling held more potential than renting, eventually making the switch. 

Corcoran did most of the management of the company. By 1973, they already had 14 salesmen and a $500,000 profit. It became one of the fastest-growing real estate companies in New York.

However, after Corcoran and Simone broke up, she became the sole owner of the company. In 1978, “Corcoran-Simone” became “The Corcoran Group.”

“I’ve been in real estate for my whole life, I’ve been trying to sharpshoot the market with my investments, I’m never right. All you need to do is get near the bottom. That’s good enough.” ~ Barbara Corcoran

Successes and Accomplishments in Real Estate

As a real estate entrepreneur, she saw staggering success by the beginning of the 2000s. This happened soon after she switched to online operations, making sales over the Internet. The company had a workforce of more than 850 people, earning more than $100 million in net profit. 

In 2001, she eventually sold the company to NRT Inc., a company from New Jersey. At first, NRT offered $20 million to buy the business. However, Corcoran asked for $66 million, claiming that it was her lucky number. Despite the staggering difference in the asking price, NRT accepted and the sale closed within 2 weeks. This set her up for a life of wealth. 

Role on Shark Tank

Corcoran is one of the original investors for Shark Tank, appearing in all 14 seasons so far. The TV show is very famous for bringing young entrepreneurs with fresh mindsets, allowing them to pitch their business ideas to investors. 

During her time as a “shark,” she made more than 130 deals, her most notable one being a $350,000 investment. That investment gave her access to 40% of the Coverplay company.

Entrepreneurship and Philanthropy

Aside from her real estate business, Corcoran also dabbled in other endeavors. She took a liking to writing, which led to the release of her first book “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtail.”

There, she would talk about lessons that she got from her mother and other useful advice. She authored two more books after that.

Her TV career began somewhere in the mid-2000s when she appeared as a “Fox News” political commentator. She also appeared on a variety of TV shows, where she talked about real estate. 

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Moreover, Corcoran joined as a contestant in the 25th season of “Dancing with the Stars,” where she was partnered with Keo Motsepe. She even appeared in a TV series called “Grace and Frankie,” staring as herself.

Barbara is also a philanthropist and associated herself with numerous charities throughout the years.  She donated different sums to various causes, particularly helping underprivileged families and children.

She also runs the “Barbara Corcoran Venture Partners” non-profit, where she invests in small businesses run by minorities and women.

“I did everything in my power to give my brokers brand identity and clout in the market. I saw my job as parent to build them up and if I took care of them, then they would take care of their customer.” ~ Barbara Corcoran

Personal Life and Challenges

In the 70s, Corcoran broke up with her boyfriend, Ray Simone, which was also her business partner. This happened after Simone began dating his secretary, claiming that he intends to marry her. 

Corcoran ended up meeting retired Navy captain Bill Higgins, and the couple married in 1988.

They tried having children the usual way, but it appeared fertility issues got in the way.

They had a boy, Tom, in 1994, through in-vitro fertilization. After a few years, they also adopted a girl and raised her as their own. 

Throughout her life, Corcoran went through a series of challenges. Because of her dyslexia, she was constantly referred to as the “dumb kid,” not only by her classmates but also by her teachers. However, according to Corcoran, the bullying only made her want to try harder and prove that she could succeed. 

Conclusion

Barbara Corcoran did not have the easiest of lives. She struggled during her early years, both in her personal and financial life. However, after seizing the right opportunity at the right time, she became a very successful personality. 

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Key Points

Summary: Barbara Corcoran’s Life Story

  • Barbara Corcoran is an American businesswoman and TV personality known for “Shark Tank.”
  • Born on 10th March, 1949 in Edgewater, New Jersey; second of 10 children in a low-to-middle class Irish Catholic family.
  • Credits her mother for her success; her father had alcohol issues and was semi-employed.
  • Struggled academically due to dyslexia; dropped out of St. Cecilia High School, finished at Leonia High School, and obtained a bachelor’s degree from St. Thomas Aquinas College in 1971.
  • Worked various jobs post-college; saved money and recognized potential in real estate.
  • Founded “The Corcoran-Simone” in 1973 with then-boyfriend Ray Simone using a $1,000 loan; later became “The Corcoran Group.”
  • Transitioned from rentals to sales, growing rapidly; by 1973 had 14 salesmen and $500,000 profit.
  • Successfully transitioned to online sales by the 2000s; company sold to NRT Inc. for $66 million in 2001.
  • Original investor on Shark Tank; made over 130 deals.
  • Authored three books; appeared on TV as a commentator, contestant on “Dancing with the Stars,” and a role in “Grace and Frankie.”
  • Philanthropic efforts focus on underprivileged families, children, and businesses run by minorities and women.
  • Personal challenges include breakup with Simone in the 70s; married Bill Higgins in 1988; has a son and an adopted daughter.
  • Despite early challenges and dyslexia, Corcoran became a successful personality.

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Timeline.Barbara Corcoran

Here is a chronological timeline based on the text provided:

1949:

  • Barbara Corcoran was born on March 10 in Edgewater, New Jersey.

Early Years:

  • Grew up as the second of 10 children in an Irish Catholic, low-to-middle class family in New Jersey.
  • Attended a local New Jersey Catholic elementary school.
  • Attended St. Cecilia High School in Englewood but dropped out during her freshman year.
  • After changing multiple schools, she finished her high school at Leonia High School.
  • Discovered she had dyslexia during her school years.

1971:

  • Despite academic challenges, Barbara obtained her bachelor’s degree from St. Thomas Aquinas College in Sparkill, New York.

1973:

  • After working in various jobs, Barbara noticed the potential in the real estate sector.
  • With Ray Simone, they launched the “The Corcoran-Simone”, a real estate company primarily focused on apartment-locator business.
  • The company quickly grew, with 14 salesmen and a profit of $500,000 by the end of the year.

1978:

  • After breaking up with Ray Simone, Barbara became the sole owner of the company.
  • “Corcoran-Simone” was renamed “The Corcoran Group”.

1980s:

  • Barbara met retired Navy captain Bill Higgins.

1988:

  • Barbara Corcoran and Bill Higgins got married.

1994:

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  • Barbara and Bill had a son named Tom through in-vitro fertilization.

Mid-2000s:

  • The Corcoran Group switched to online operations, significantly increasing their profits.
  • Barbara began her TV career as a political commentator on “Fox News”.

2000s (General):

  • Barbara and Bill adopted a girl.
  • Barbara appeared in TV shows discussing real estate and also joined the 25th season of “Dancing with the Stars”.
  • Appeared in a TV series called “Grace and Frankie”.
  • Published her first book “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtails” and subsequently two more.

2001:

  • Barbara sold “The Corcoran Group” to NRT Inc. for $66 million.

Shark Tank Era:

  • Became one of the original sharks on the TV show “Shark Tank”.
  • Has made over 130 deals during her time on the show.

Current Days:

  • Barbara is involved in philanthropy, focusing on helping underprivileged families and children.
  • Runs the “Barbara Corcoran Venture Partners” non-profit, investing in businesses run by minorities and women.

This timeline highlights Barbara Corcoran’s significant events and milestones throughout her life, from her challenging childhood to her outstanding success in the real estate sector and her media career.

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Life Lessons

From the life story of Barbara Corcoran, we can glean several teachable lessons that can inspire and guide individuals. Here’s a list:

  1. Resilience Amidst Adversity: Despite having a challenging childhood, with familial struggles and personal difficulties, Barbara Corcoran emerged stronger and more determined. This underscores the importance of resilience and the ability to turn challenges into stepping stones.
  2. Valuing Mentorship: Barbara credits her mother as a significant influence and mentor in her life. This highlights the importance of having role models and guides, whether in personal or professional capacities.
  3. Overcoming Learning Disabilities: Despite being diagnosed with dyslexia and facing academic challenges, Corcoran didn’t let this deter her. This serves as a lesson in understanding that traditional markers of “success” or “intelligence,” such as grades, aren’t the only indicators of potential.
  4. Taking Risks: Barbara ventured into the real estate industry with little to no experience but saw an opportunity and grabbed it. This teaches us the value of taking calculated risks and stepping out of our comfort zones.
  5. Evolution and Adaptability: As the real estate market changed, Barbara adapted her business model from rentals to sales. Later, she shifted to online operations. This underlines the importance of evolving with the times and market conditions.
  6. Negotiation Skills: When selling her business, Barbara negotiated for a sale price much higher than the initial offer, showcasing the importance of self-worth and strong negotiation skills.
  7. Diverse Interests: Barbara’s involvement in various endeavors, from writing to TV appearances, highlights the importance of exploring diverse interests and avenues, and not being pigeonholed into one role or industry.
  8. Philanthropy and Giving Back: Her charitable endeavors emphasize the value of giving back to society, especially when one has achieved success.
  9. Confronting Personal Challenges: From relationship troubles to fertility issues, Barbara faced many personal hurdles. This serves as a lesson in coping with personal challenges and seeking solutions rather than being defeated by them.
  10. Transforming Negatives into Positives: Barbara used the negative labels given to her due to her dyslexia as a driving force. This teaches the value of transforming negative energy into motivation.
  11. Importance of Timing: Barbara’s success in the real estate industry can partly be attributed to her entering the field at the right time. This underscores the importance of timing in business and seizing opportunities when they present themselves.
  12. Value of Persistence: Despite numerous job changes early in her career and multiple challenges in her personal life, Barbara’s story emphasizes the importance of persistence and determination.

In conclusion, Barbara Corcoran’s life story is a testament to the human spirit’s ability to overcome challenges, seize opportunities, and thrive amidst adversity.

Her journey offers numerous lessons on resilience, adaptability, and the importance of hard work and determination.

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Facts

  1. Barbara Corcoran is an American businesswoman and TV personality known for her appearances on “Shark Tank.”
  2. She was born on the 10th of March, 1949, in Edgewater, New Jersey.
  3. Barbara was the second of 10 children in an Irish Catholic family.
  4. Her family was low-to-middle class.
  5. Her father was semi-employed with an alcohol problem.
  6. Corcoran struggled academically due to dyslexia.
  7. She attended St. Cecilia High School in Englewood and later finished high school at Leonia High School.
  8. She obtained a bachelor’s degree from St. Thomas Aquinas College in Sparkill, New York, in 1971.
  9. In the 1970s, she recognized potential in the real estate industry.
  10. Barbara and Ray Simone started a real estate company called “The Corcoran-Simone” in 1973.
  11. The initial business model was an apartment-locator business.
  12. By 1973, the company had 14 salesmen and made a profit of $500,000.
  13. In 1978, “Corcoran-Simone” became “The Corcoran Group.”
  14. The company switched to online operations by the beginning of the 2000s.
  15. The Corcoran Group had over 850 employees and made a net profit of more than $100 million.
  16. In 2001, Corcoran sold the company to NRT Inc. for $66 million.
  17. Corcoran has been a consistent investor on Shark Tank for 14 seasons.
  18. She made an investment of $350,000 for 40% of the Coverplay company.
  19. Barbara authored a book titled “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtail.”
  20. She appeared as a contestant in the 25th season of “Dancing with the Stars” and also in the TV series “Grace and Frankie.”
  21. Barbara is associated with numerous charities and runs the “Barbara Corcoran Venture Partners” non-profit.
  22. In the 70s, she broke up with Ray Simone after he began dating his secretary.
  23. Corcoran married retired Navy captain Bill Higgins in 1988.
  24. The couple had a son named Tom in 1994 through in-vitro fertilization and later adopted a girl.
  25. Throughout her life, Barbara was referred to as the “dumb kid” due to her dyslexia.

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Questions and Answers

The information in this post answers many of the questions about Barbara Corcoran. In addition, this section provides a summary and any further information.

Questions about Early Life and Education:

Who is Barbara Corcoran?

  • An American businesswoman and TV personality known for her appearances on “Shark Tank.”

When and where was Barbara Corcoran born?

  • Barbara Corcoran was born on the 10th of March, 1949, in Edgewater, New Jersey.

How many siblings did Barbara have?

  • She was the second of 10 children.

What was her family’s financial status?

  • Her family was low-to-middle class.

Who influenced Barbara’s success early on?

  • Her mother, who she perceives as a mentor.

What challenges did she face in school?

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  • She struggled with dyslexia and had difficulty obtaining good grades.

Which colleges did she attend?

  • St. Thomas Aquinas College in Sparkill, New York.

Questions about Founding the Corcoran Group:

How did Barbara start her career after college?

  • She worked in various business sectors taking on jobs like waitress, receptionist, and saleswoman.

When and with whom did she start her real estate company?

  • In 1973, with her then-boyfriend Ray Simone.

How did the company start?

  • With a $1,000 loan from Simone, as an apartment-locator business.

Why did she switch from renting apartments to selling them?

  • After making a significant sale, she saw the potential of earning more money from sales than rentals.

Questions about Successes and Accomplishments in Real Estate:

How did the company perform in the 2000s?

  • The company had a workforce of over 850 people and earned more than $100 million in net profit.

To whom and for how much did she sell her company?

  • She sold the company to NRT Inc. for $66 million.

Questions about Role on Shark Tank:

How long has Barbara been a part of Shark Tank?

  • She has appeared in all 14 seasons.

How many deals has she made on the show?

  • She made more than 130 deals.

Questions about Entrepreneurship and Philanthropy:

How did Barbara venture into writing?

  • She released her first book titled “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtail.”

In which TV series did Barbara make an appearance?

  • “Dancing with the Stars” and “Grace and Frankie.”

What philanthropic endeavors is Barbara associated with?

  • She has donated to various causes, especially those helping underprivileged families and children, and runs the “Barbara Corcoran Venture Partners” non-profit.

Questions about Personal Life and Challenges:

Who was Barbara’s first significant business partner and boyfriend?

  • Ray Simone.

Who did Barbara marry?

  • Bill Higgins, a retired Navy captain.

How many children does she have and how did they come into her family?

  • They have a boy named Tom, born through in-vitro fertilization, and an adopted girl.

What personal challenges did Barbara face?

  • She had dyslexia and was often called the “dumb kid” by her peers and teachers.

Conclusion-related Questions:

How would you summarize Barbara Corcoran’s life journey?

  • Despite facing challenges in her early years, both personally and financially, Barbara Corcoran became a highly successful individual by seizing the right opportunities.

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