In the competitive world of US real estate, Barbara Corcoran's multimillion-dollar success story isn't just about shrewd deals and market dominance. The "Shark Tank" investor attributes her empire-building prowess to a philosophy that focuses on employee motivation and well-being.
Corcoran, who founded The Corcoran Group at just 23 with the ambitious goal of creating New York's largest brokerage, achieved her vision by handsomely rewarding her team. Her methods went far beyond standard corporate benefits, famously including the purchase of a Bentley for her top broker. "It wasn’t about the car, it was about making her feel like a star in front of the whole company," Corcoran revealed in a LinkedIn post. This grand gesture, she noted, sparked a healthy internal competition, with everyone vying for her attention.
"I threw the wildest parties in town," she wrote. " Each party had a wacky theme, and dressing up was required! We ate too much, laughed too loud, and had way too much fun. Good themes make parties more fun. The more ridiculous, the more fun everyone had!"
While many modern companies boast perks like unlimited PTO, office beer taps, or luxurious international retreats, Corcoran's "crazy" benefits often eclipsed these. Employees at The Corcoran Group enjoyed freebies that extended well beyond typical healthy snacks and Nespresso. During the workweek, she brought in massage spas and even organised safari adventures, transforming the mundane into the memorable.
"I bused 600 agents to the country for midweek picnics, and every picnic had its own crazy gimmick: a 60-foot hot air balloon, a 5,000-pound elephant, and a spitting camel offering safari rides," Corcoran wrote on LinkedIn. "Why not? We worked hard, and we deserved to play hard too."
Perhaps most notably, Corcoran championed working mothers long before it became a widespread corporate initiative. At a time when many companies still skirt around offering even bare-minimum childcare support, Corcoran proactively brought laundry machines and babysitters directly into the office to alleviate stress for her working moms. Her guiding principle was simple: "If it made the team happier, I made it happen."
Corcoran eventually sold her real estate firm in 2001 for $66 million, a figure she considers her lucky number. Today, under parent group Anywhere Real Estate, the company continues to rake in an astounding $20 billion in sales. Reflecting on her journey, Corcoran summarised her winning strategy as "Fun is the most underutilised tool in business."
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