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

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.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Editor's Pick

Related Topics

Business News

'It's Getting Worse By the Week': Kevin O'Leary Issues Grave Warning About Commercial Real Estate Industry

The "Shark Tank" star spoke to impending devaluation of stocks in the industry on FOX Business' "Varney & Co."

Business News

These Great-Grandparents Booked 51 Back-to-Back Cruises Because It's 'Cheaper Than a Retirement Home'

Retirees Marty and Jess Ansen hopped on a cruise ship nearly two years ago and never left.

Business News

Walgreens' Battle Over High-Tech Cooler Doors Heats Up

The lawsuit, initially filed in June, is seeking $200 million in damages.

Business News

'Beware': Tom Hanks Warns of AI Danger After Advertisement Uses His Likeness Without Permission

The actor shared a screenshot of the false advertisement to his 9.5 million Instagram followers.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

Too many entrepreneurs are counting too heavily on a company exit for their eventual 'win.' Do this instead.