I Followed Barbara Corcoran’s Genius Advice and I’m on Track To Become a Millionaire
Written by
Laura Beck
Edited by
Gary Dudak
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Barbara Corcoran is well-known as a real estate mogul and as one of the stars of “Shark Tank.” She wasn’t always wealthy, though.
Corcoran is a self-made millionaire, who built her fortune from the ground up. Her success wasn’t just luck or being in the right place at the right time, either. She built her wealth by creating her own opportunities, taking action and pushing past fear.
Corcoran didn’t follow a traditional path to get to where she is, but she’s eager to share what she’s learned along the way. She’s been outspoken about the methods that worked for her, often speaking freely and openly about the strategies that helped her on her journey. So how can her advice guide you on your own path?
Phil Alves, founder and CEO of DevSquad, has found Corcoran’s advice incredibly important to his own life and career. By following her advice, he built a successful business and is well on his way to a seven-figure net worth. Here’s what he had to say about following Corcoran’s advice.
Don’t Wait, Just Get Started
Corcoran believes in the power of taking action. She thinks that waiting too long or overthinking things can stop you from making progress. People often want to have everything figured out before they start any new enterprise — but this can keep you from ever moving forward.
Corcoran encourages you to trust your instincts and jump right in. “If you stand back and analyze the best way to do something, you’ll be standing there forever,” she has said.
“In the SaaS world, I’ve seen far too many founders paralyzed by perfection, waiting for every detail to be flawless before launching,” said Alves. “But here’s the thing — nothing will ever be flawless.
You don’t need to have every detail worked out to begin. Start now and figure things out along the way. “When you feel stuck and can’t seem to move ahead, always remember that you don’t have to get it right, you just have to get it going!” said Corcoran.
“At DevSquad, we’ve built over 100 software products, and none of them started as the perfect solution,” said Alves. “In fact, my strategy mirrors Barbara’s advice: launch fast, learn faster. When we were building a product for one of our enterprise clients, ADP, we didn’t have all the answers at the start. But we launched early, adapted, and let the market guide us to the solution. That’s where wealth comes from–momentum, not hesitation. Every time we move quickly, we create opportunities for growth and wealth, even when it means iterating along the way.”
You just need to take the first step. Even small actions can help you find the right path. By moving forward, you will learn what works and what doesn’t. The important thing is to get started — don’t wait for everything to be perfect.
Don’t Let Fear Hold You Back
Corcoran’s advice is that fear shouldn’t stop you from moving forward. Every success story has moments of doubt. Corcoran herself faced many doubts while building her real estate empire. She could have let the fear of failure stop her. Instead, she was able to benefit from both her failures and her successes.
“My best successes came on the heels of failures,” Corcoran has said.
You cannot build wealth by playing it safe all the time. Many wealthy entrepreneurs took big risks. Some of those risks did not work out, but they learned from their mistakes.
“When we founded DevSquad, I knew it would take bold decisions to stand out in the SaaS space,” said Alves. “Whether it was investing in a new tool or deciding to take on a big client with a tight deadline, those risks paid off. The truth is, the wealth isn’t in the risk — it’s in how you handle what comes next. For me, that mindset has been the real game changer.”
Fear is normal. Many people hold back because they are afraid. They fear losing money or being rejected. But the fear of failure is usually much worse than the failure itself. These fears can stop you from reaching your full potential. Every entrepreneur experiences setbacks. To succeed you’ll have to learn to manage your fear instead of letting it control you.
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