Barbara Corcoran knows what it takes to be an expert in your field — and how to make money.
The real estate maven recently sat down with the “World of Women” podcast to talk about how aspiring entrepreneurs can carve their paths in the business world and what advice she would give women who want to become millionaires.
Her answer? Don’t focus on the money.
Instead, focus on being the best you can be in your field.
“Take the money out of the equation and focus on one thing only — try to find something you do very, very well,” Corcoran explained. “And then practice the hell out of it until you become very, very good at it. And then you don’t have competition. You’re gonna be the top of your heap, whatever that heap is.”
“I out-try anyone. I will try anything and try a hundred things to let one thing land,” she added. “I don’t care, there’s no shame. I know if something is going to hit if I’m out trying.”
Corcoran has had a lucrative career in the real estate industry and as a longtime investor on ABC’s “Shark Tank” — but she’s also had to work very hard to keep her job, telling her Instagram followers last year that she was almost fired from the show before it began.
Moreover, Corcoran’s real estate career was paved in part by deals and earnings she was able to make through commission.
Related: Barbara Corcoran Reveals She Was Almost Fired From ‘Shark Tank’ Before Filming Even Began
But the recent NAR settlement, which removes rules on sales commissions for brokers and agents making the U.S. standard of 6% commissions obsolete, has Corcoran and her colleagues rethinking the system.
“Change is nothing new to the real estate industry. What I know for sure is that real estate brokerages and their agents are some of the most resilient people in the world,” she said in response to the NAR news. “They’re creative and tough, and this opens the door for agents to use that resilience and creativity to come up with new and better ways to service their home sellers and customers.”
Corcoran’s net worth is an estimated $400 million.
Related: ‘Everybody’s Scared’: Barbara Corcoran Says Now Is the ‘Very Best Time to Buy a House’ — Here’s Why
