‘Shark Tank’: What Barbara Corcoran Values the Most About Being an Entrepreneur – And It’s Not Money
Barbara Corcoran of Shark Tank built her real estate empire from a $1,000 loan and sold it for a whomping $66 million. The reality star now partners with numerous aspiring entrepreneurs to help them develop successful businesses.
While Corcoran enjoys her wealth, she’s the first to say that money isn’t her top benefit of being an entrepreneur.
Barbara Corcoran thrives on her freedom
In an interview with Foundr.com, Corcoran discussed a myriad of topics from her own personal background to the happenings on Shark Tank. When asked what she values most about being an entrepreneur, she didn’t hesitate with her response.
“I would say not having a boss,” Corcoran said in 2015. “Anyone telling me what I can and can’t do. That is the joy of being an entrepreneur. And to be able to create your own world exactly like you want it. From the wallpaper on your walls to the people you surround yourself, you’re 100% in control.”
The Shark Tank star described the benefits of running a company, which includes creating all aspects of the business with your own vision.
“You know how much better that is?” Corcoran remarked. “To create your own world exactly as you want it? You can only do that if you’re working for yourself. You might get part of it, but you’re not gonna get all of it unless you work for yourself. Because you get to pick out everything. You’re the chief architect and guide of your own life.”
‘Shark Tank’ star knows what money can and cannot bring
While Corcoran has earned millions and as well as her status as a real estate mogul, she insists that wealth isn’t what drives her. Rather, it’s the freedom to be her own boss.
“I could sell apples on a street corner and only afford one meal a day,” the millionaire investor commented. “But let me be in charge of my own apple cart. I’ve never been motivated by money. I’ve just been lucky enough in good times to make a lot of it and bad times to lose a lot of it. But net, I came out on top.”
Being able to devise her own path in business brings Corcoran more contentment than what’s in her wallet.
“That’s not where the joy is,” she said regarding a big bank account. “The joy is to be your own creator. No money can buy that. Freedom. You’re totally in charge of yourself.”
‘Money changes everything’
The Shark Tank panelist noted that some people in the workforce consider themselves as having no superiors over them, such as in management, when in reality they are still an employee.
“A lot of people like to think they are,” Corcoran said of being your own boss. “But if you have to work for a living and you’re not working for yourself, you’re really not. That’s my own attitude towards it. It’s not for everyone. But if it’s for you, it’s very important.”
In a conversation with Andrew Warner of Mixergy, Corcoran reiterated her view on millionaire status and how a high net worth can bring its own set of issues.
“Having that much money changes everything,” she said “For me, it complicated life. My nine brothers and sisters saw me very differently. How do I take care of them? Is it my obligation to take care of them? … Because suddenly, I was in a different field than everybody else.”
ABC’s Shark Tank airs on Friday nights.