I interviewed Barbara Corcoran for Mediaplanet's 2017 "Women in Business" cover story, distributed with USA Today.

Barbara Corcoran photographed by Danielle Levitt

By the time she turned 23, Barbara Corcoran had more than 20 jobs. It was her next job, though, that would cement her status as one of the most successful businesswomen of all time.

"I liked every one of my jobs, but I never liked my bosses," she recalls. "I realized that by starting my own company, I could be the boss, which changed everything for me."

In 1973, Barbara leveraged a $1,000 loan to start a real estate firm, The Corcoran Group.

"When I first started out in the New York City real estate brokerage business, there were a lot of women working as salespeople, but not one firm was owned and led by a woman, so I built an amazing sales management team comprised entirely of capable women."

Barbara's ascent was not without its trials. She faced a legal battle with Donald Trump over millions in unpaid commissions and weathered a market crash in 1987. Yet, she kept her office afloat by mortgaging her home and teaching night classes, demonstrating her unwavering resilience and commitment to her business.

"On the flip side of every big flop is a large opportunity, so long as you're smart enough to stay in the game and find it," she says.

Women helping women

Corcoran's success story is not just about her personal triumphs but also about the doors she's opened for other women. While more than a third of all small business owners in the US are women, they only lead 26 of the companies on the Fortune 500 list — a mere 6 percent. She's using her role as an investor on ABC's hit series Shark Tank to improve these odds, inspiring a new generation of women entrepreneurs.

"There's no better role to aspire to than to own your own business," she explains. "You make your own hours, you decide how much money you make, and you control your destiny."

Despite the bleak statistics, today's entrepreneurs have several advantages over their predecessors. Corcoran believes technology can help level the playing field, especially for small businesses and start-ups. "You can compete with the big guy using social media and win, based solely on creativity."

The myth of balance

Defining a healthy work-life balance can be tricky, often unfairly pinned as a challenge solely for women. But from Corcoran's viewpoint, it's simply a myth.

"I gave up on the idea of a work-life balance the week after I had my first child," she says, laughing. "The best I've been able to manage is dividing my days into time for work, time for my kids, and time for play. But nothing is equal, and it's certainly not balanced."

What does it take to be a successful entrepreneur in 2017? For Corcoran, the answer is simple.

"The minute I realize I've invested in an entrepreneur that takes rejection personally or casts blame on the next guy, I know I'll be losing money," she says. "It's having a clear picture of what you're after, overcoming the obstacles, and not coming home until you get it." ■

Thanks for reading! 👋

Thanks for taking time to read my work. Have another 5 minutes to kill? Here are some other stories you might like:

Swimming with a Shark: Barbara Corcoran's Advice for Entrepreneurs

Women helping women

The myth of balance

Thanks for reading! 👋