Build Wealth With One Surprising Tip From Barbara Corcoran
Written by
Chris Adam
Edited by
Daria Uhlig
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What if you could build your own wealth by identifying the talents of others and helping them achieve their best lives?
That’s the surprising tip from real estate mogul and financial expert Barbara Corcoran, who said she learned this lesson from an early age. According to Corcoran, it’s a lesson she takes to heart in building businesses, and she believes it’s a powerful way for anyone to build wealth.
Growing Up Poor
On the “Erika Taught Me” podcast with Erika Kullberg, Corcoran said that while her parents weren’t rich and she didn’t grow up wealthy, her childhood experiences helped paved a path to success.
“I had phenomenal parents who loved each and every one of their kids with their whole heart,” Corcoran said. “So we grew up with confidence, feeling loved. And boy, that’s a major card in life, isn’t it, as you play it out?
A Gift From Her Mother
According to Corcoran, her mother gave her another special gift that she said can help anyone build wealth. That was to learn to identify the special gifts of others and encourage them so they believe in themselves.
“I think being able to spot the gift in someone, and build up on it so that they believe it, and that your business gets all the benefit of the growth, I think is a great gift to have,” Corcoran said.
Corcoran is far from the only successful entrepreneur and leader to talk about the importance of building up other people and inspiring them to greatness.
“The ability to inspire is one of the single most important leadership skills that separates great leaders from average ones,” Heidi Lynne Kurter wrote for Forbes. “While there are plenty of admirable bosses, there are only a handful of leaders who are able to infuse energy, passion and connection into their actions and behaviors.”
The Power of Work
Over the years, Corcoran has also shared her belief in the power of hard work.
“All my mother and father asked us to be is be nice people when we grew up, and what they also asked us to do is get a job after school because we needed the help,” Corcoran recalled. “So we all worked.”
“What it did for me is realize there was another world after the schoolhouse that you could get out, make a buck, stand on your feet, talk for yourself and make something happen,” Corcoran said.
By the time Corcoran reached age 23 and started her real estate company, she’d held 22 different jobs.
“But I think I learned something in every one of those jobs, if not many things,” she said.
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