A real estate mogul and successful businesswoman, Barbara Corcoran has gained fame as an investor on NBC’s hit show “Shark Tank.” In an exclusive interview, she talks about what it took to build a successful business, and what aspiring entrepreneurs need.
What advice do you have for young aspiring entrepreneurs?
Most people spend way too much time getting everything ready and getting it right, but in business, you don’t have to get it right. You just have to get it going.
All great entrepreneurs have two things in common: They’re natural risk-takers and they’re salespeople at heart. If you don’t have those two qualities, you’ll make a lot more money working for somebody else.
What advice do you have for women who are already in the business field, but are looking to advance their careers and seek leadership positions?
Ask for what you want and look to take on more responsibility; raise your hand. Then you can ask for the money you deserve.
Don’t think for a minute that being a woman in a man’s world is a disadvantage. The more men there are in your field, the easier it is to be noticed. If people underestimate you, you have the huge advantage and the freedom to creep up and bite them from behind.
When you interview for a job, always quote your pay 10-15 percent higher than what you really want, and know that the guy also applying is quoting a higher number, too.
In your experience, how has a diverse workforce helped a company’s bottom line?
It takes lots of different talents to build a successful business; different personalities and viewpoints, and opposite strengths. I built my business like a crayon box — one of everything. Together, we had all the talents needed to become whatever we could dream up.
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