"My imagination"— Shark Tank investor Barbara Corcoran revisits her road to success

Barbara Corcoran, renowned entrepreneur and Shark Tank investor, credits her imagination as a driving force behind her success. In an Instagram video posted on January 24, 2025, Corcoran shared that her mother was her biggest motivator, stating,

“My mom was my biggest motivator and told me my best gift was my imagination.”

The Shark Tank investor's journey from being teased in school to building a billion-dollar real estate empire demonstrates the pivotal role her creativity and resilience played in her achievements.

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Shark Tank investor Barbara Corcoran's journey: From a $1,000 loan to a billion-dollar empire

Early challenges and family support

According to Glamour & Guide, Barbara Corcoran was born on March 10, 1949, in Edgewater, New Jersey, as one of ten siblings. She faced significant challenges in school due to her dyslexia, which made reading and writing difficult for her. In a video on Instagram, Corcoran shared that she was often called the "dumb kid" during her school years, stating,

"I was labeled the "dumb kid" in school when I was slow to learn to read and write."

She credits her mother’s encouragement and positive outlook for instilling a sense of confidence in her from the start. Corcoran often discusses how her upbringing influenced her mindset. As noted by Glamour and Guide, her father, who had a habit of changing jobs, taught her the importance of adaptability and resilience, while her mother nurtured creativity and a spirit of teamwork among the siblings.

The Shark Tank investor pointed out that this base of family support and resourcefulness helped prepare her for the later challenges she would face in her career.

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The turning point: A $1,000 loan and a breakup

Barbara Corcoran’s entrepreneurial journey kicked off at 23 while she was working at a diner in Fort Lee, New Jersey. In an Instagram video, she shared how she met her then-boyfriend, Ramone Simone, who lent her $1,000 to launch a real estate business in New York City.

"Got a lucky break when a boyfriend gave me a $1000 loan to start a real estate businessin NYC," she said in the Instagram video.

Together, they built a small rental company, with Corcoran focusing on operations and Simone handling finances. However, the partnership ended abruptly when Simone revealed he was leaving Corcoran to marry their secretary.

“He cheated on me and left me to marry my secretary,” Corcoran recounted in the video.

This event led to the division of their company, with each taking half of the employees and resources. Despite the personal and professional setback, the Shark Tank investor used this as an opportunity to launch her own company, The Corcoran Group.

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Real estate empire and Shark Tank legacy

The Corcoran Group encountered considerable obstacles during its initial phase, especially when trying to find its footing in the competitive New York City real estate market. Corcoran mentioned in her video that she faced pushback from the entrenched 'Old Boy Network' of seasoned real estate professionals, but she ultimately rose to become their top competitor.

According to Glamour and Guide, Corcoran’s ability to make the most of down markets helped her business grow. Over time The Corcoran Group became one of the biggest real estate companies in the city. In her Instagram post, she said she sold the company for $66 million cash, a big deal in her career.

Barbara Corcoran’s role as a Shark Tank investor has allowed her to be her childhood dream of being a “fairy godmother” and help over 150 small businesses and thousands of entrepreneurs get started. As she said in her Instagram video:

"Now I'm a Shark on Shark Tank, I get to be the fairy godmother I dreamed of growing up. I've invested in over 150 small businesses and inspired thousands of entrepreneurs to start their own."

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Shark Tank airs every Friday at 8 pm ET on ABC. Stream full episodes anytime on Hulu.