Barbara Corcoran is known today as a real estate mogul and “Shark Tank” star, but her path to success was anything but smooth. She’s faced near-bankruptcy more than once — and each time, she found a way to bounce back. One of her most remarkable turnarounds? Making $1 million in just one hour.
Here’s how Corcoran once made $1 million fast when she was on the verge of losing it all.
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Why Desperation Fuels Innovation
Corcoran has long believed that adversity fuels innovation.
“There’s nothing that comes easily,” she said while appearing on “Lo on the Go.” “The more difficult it is, the better the reward — without a doubt.”
She credits her biggest breakthroughs to moments when she was backed into a corner.
“I was near bankruptcy many times,” she said. “But it’s always in the 11th inning that I [come up with a way out]. I would always come up with a great idea, but not until I tried everything else.”
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How She Made $1 Million in One Hour
Early in her career, Corcoran’s company was struggling to sell 88 nearly identical apartments. Facing $280,000 in debt, she devised a bold plan — price all the units the same and sell them in a one-day, first-come-first-served event.
“I made over $1 million in an hour,” she said. “People just scooped them right up.”
The strategy worked because it created urgency and exclusivity — two key drivers of buyer behavior.
Corcoran’s Secret to Thriving Under Pressure
Corcoran’s story is a powerful reminder that resilience and creativity can turn even the worst situations around.
“I really have to try hard with a plan,” she said, “but I came up with one every time.”
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This article originally appeared on GOBankingRates.com: Barbara Corcoran’s Million-Dollar Idea That Saved Her From Bankruptcy — and What You Can Learn
