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She is also a local legend in New York.
She became one of the highest-paid female investors, climbing her way to the top from nothing.
Corcoran is the epitome of an entrepreneur.
She always finds ways to innovate and build a legacy while staying rooted in ethics and family values.
Here are the top six wealthlessons we can take away from Barbara Corcoran.
Corcorans vast web link of other real estate professionals undoubtedly helped pave her way to the top.
Also, networking is one of the top ways to build trust and reliability in your organization.
Would you rather work with a complete stranger or an individual that someone knows and networks with?
Ive found that building genuine relationships and trust with clients leads to repeat business and referrals.
Focusing on people over profits has been key.
A positive workplace can boost productivity and reduce turnover.
Treating your employees with respect and dignity and minimizing negativity can lead tobetter organizational performance.
Corcoran believes in fostering a strong workplace culture by eliminating negative employees.
She believes negativity is contagious and negative employees use up valuable resources.
Are you revitalizing a run-down property?
How about converting it into a multi-use building with both residential and commercial units?
Through her investing, Corcoran prioritizes encouraging small businesses to open in local communities using rehabbed units and spaces.
There doesnt have to be a trade-off between running a successful real estate business and revitalizing your community.
Although revenue didnt immediately increase, website traffic and sales soared within months.
Supporting my community built goodwill and attracted new clients.
By anticipating problems, you’ve got the option to uncover viable solutions to overcome challenges.
Whatever the case, dont get hung up on problems.
Everything can be solved with the right resources and resilience.
Being able to anticipate problems and find a solution quickly has always been important, Stance added.
Foreseeing and solving challenges beyond a basic transaction builtloyalty and success.
Using Your Past To Fuel Your Future
Nobody has a perfect track record.
Even Corcoran has made mistakes in her investment career.
However, she believes that your past doesnt define you.
Growing up with nothing, she didnt stay complacent where she was.
Instead, she took action and didnt let disadvantages get in the way of her success.
These same principles should apply to your wealth-building journey.
Using your past as a learning lesson can pave the way to a new (and wealthier) future.
Struggles Make You Stronger
How does it feel when you finally overcome a challenge?
Pretty good, right?
Another wealth-building lesson that we can take from Corcoran is that having an enduring spirit is crucial.
Her enduring spirit led her to create her own real estate firm and become an investor on Shark Tank.
The struggles she faced only made her stronger.
The same goes for your situation.
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