When it comes to selling a business empire, may people choose their price based on assets, staff, and the love and time invested into building it.
That wasn’t Barbara Corcoran’s method – the real estate mogul chose her asking price based simply on the fact she liked the number.
It’s not the first time Corcoran – who is a star on ABC’s Shark Tank – has issued advice which doesn’t track with traditional business practices.
She’s famously not saved a “dime” of her wealth and says the best money she’s ever spent was on a coat.
The decision to sell her company – the New-York based Corcoran Group – in 2001 seems to also have been motivated by both business acumen and sentiment.
Speaking on Instagram, Corcoran revealed she settled on a figure in her mind because it was her lucky number, and refused to accept any offers until she got it.
“I got an offer for $100,000 one day, I couldn’t believe my good luck,” Corcoran recalled. “I said ‘I’ll take it!’ and then they changed their mind.
“Four years later someone else came by and offered me $20 million, I couldn’t believe it.”
She continued: “I thought for that much I’ll ask them for even more. I said ‘No I’ll only take $66 million, exactly $66 million. It took them a year to shuffle around, look at the books, but what do think they paid me? $66 million.”- Reports The Fortune




