Barbara Corcoran Said This Early Career Purchase Was the 'Best Investment' She 'Ever Made' Corcoran didn't waste any time spending her first-ever $340 commission check.
By Emily Rella
Opinions expressed by Entrepreneur contributors are their own.
People will tell you to dress for the job you want, not the job you have — and according to millionaire mogul Barbara Corcoran, the old adage might actually be true.
The "Shark Tank" star took to Instagram to share a Get Ready With Me Video telling viewers about the time that she spent her first-ever commission check on a $320 peacoat at luxury retailer Bergdorf Goodman, and to this day believes it's one of the best decisions she's made.
Corcoran said that at the time, she was rocking a blue peacoat from Old Navy and wanted to elevate her attire because "everyone successful looked the part."
The real estate maven told viewers that she took her $340 commission check and ran to Bergdorf Goodman to buy a brown and white wool coat with a high collar and cuffs, leaving her old coat behind with the saleswoman.
Related: Barbara Corcoran Slammed For 'Tone Deaf' Advice to Interns
"My new coat made me feel just like the big deal I hoped to become," she explained to viewers. "I wore my fancy coat for the next four years and it was the best investment I ever made. The coat gave me the one thing I so desperately needed — confidence. In my coat, I worked like crazy to become as successful as I already looked."
Many took the comment section of Cocoran's post, agreeing with her mentality of faking it till you make it.
"I dress up every day even though I work from home and the other data scientists or even product managers always ask me indirectly why I look dress up and look professional every day," one person wrote. "It gives me immense confidence in not just what I do but also helps me believe that I am going to make it even bigger. When you feel confident every single day, you ought to chase bigger dreams."
Related: 'I've Had A Few Letdowns': Barbara Corcoran Spills Behind-the-Scenes 'Shark Tank' Secrets
"My husband always called it the 'act as if,' philosophy," another explained. "Act as if you are confident and you will be, and so on. You always have great advice, Barbara!"
Corcoran has long been a proponent of faking it till you make it, explaining in a 2021 interview that, in the first five seasons of "Shark Tank", she faked her confidence on the show after struggling with figuring out what she was doing.
"All of my confidence came from trying and trying again," she said.
Corcoran's net worth as of Tuesday afternoon was an estimated $100 million.
