Barbara Corcoran is a rags-to-riches legend: She got all D’s in college and had 20 jobs by the time she was 23. Undaunted, she borrowed $1,000 to start a small New York real estate company, The Corcoran Group, which she sold for $66 million in 2001. “All my greatest successes have come after failures,” she says.
These days, Corcoran is best known as Shark Tank’s most personable investor, but she is also the author of the bestselling autobiography Shark Tales, How I Turned $1,000 Into a Billion Dollar Business, and the host of the podcast Business Unusual with Barbara Corcoran, and co-founder of Barbara Corcoran Investment Partners, which invests in a variety of industries beyond just real estate.
Last year, Corcoran teamed up with Jefferson’s Bourbon founder Trey Zoeller to launch the Marian McClain Entrepreneurs Fund, which aims to jumpstart innovative business ideas with grants of up to $20,000. “People need help,” Corcoran said. “Without the $1,000 loans, they would never have been able to get started.”
Now she’s nearly unstoppable, especially when it comes to traveling. Though she only travels to Los Angeles twice a year to tape each season of Shark Tank (“it’s the least amount of travel I’ve ever done,” she says), Corcoran logs hundreds of thousands of miles, taking 30 to 40 trips a year on average. And amazingly, she flies most of them economy class. Here’s why, plus some other tips.
There’s something better than first class.
I never fly first class unless a client books it for me. I usually travel economy class. First class feels pretentious and I can’t justify the extra cost. As for miles, I never use them for upgrades. I want to fly around the country with my family. I have nine brothers and sisters, 32 nieces and nephews, and my husband, Bill, has his family. Taking vacations and going places they’ve never seen before is a great joy for them. It brings me the greatest joy.
Bring a few small luxuries with you and you’ll fly like royalty, even in economy class.
I always do the same routine [when I fly]I bring my own good food: a few different cheeses, usually hard salami, and really good artisan crackers that aren’t too soggy. I always bring two really nice napkins: one to use as a tablecloth for my tray and one to put on my lap. I also bring real wine glasses. Then I buy a bottle of Sauvignon Blanc at the airport and eat lunch like a queen in my economy class seat. For dessert I bring an orange; when I cut it open, the aroma wafts up and makes everyone jealous.
The only thing you should bring to pass the time at the airport, and even more useful in case of delays.
I don’t hang out in the lounge, even though one of my cards allows me to. I’m a daydreamer, so I often miss my flights. Instead, I always head straight to the gate and set my alarm. I also bring a portable Scrabble board and ask any two people around me, “Hey, do you want to play Scrabble?” There’s always someone playing Scrabble and they’re happy to pass the time that way. When I’m playing Scrabble, inevitably people wander around, see what I have to say, and maybe we’ll play together next time.
Don’t settle for a beach resort without doing these two things first.
My hairdresser taught me that when I go on vacation to the beach, I should find a bar with a sunset view and find the best seat. Then I give the bartender a $100 bill and say I want to sit there every night. It’s the same at the beach. Two-thirds of my vacations are spent by the water, and not everyone wakes up early to jump on a lounge chair at the beach. I give the beach boy a $100 bill and ask him to reserve a specific lounge chair for me. I usually travel with a friend, so he reserves all the lounge chairs for me. [I need] I do this all the time, it makes traveling less stressful.
If you want to pack two weeks worth of clothes in your carry-on, pack from the bottom up.
Unless I’m in LA for an appearance on Shark Tank and need a ton of different outfits, I travel with a carry-on. Checked bags get lost. I usually bring one pair of neutral shoes and wear sneakers, so I only have two pairs of shoes. Then I pack everything from the shoes up. Pick pants and skirts that go with the shoes, and tops that go with the skirts, and make sure everything is interchangeable. You really have twice as many outfits. I also leave space for a steamer, which is quick and always looks fresh.
You’ll probably end up throwing out your best packing accessories.
Plastic dry cleaning bags are the secret to keeping your clothes wrinkle-free. Just roll one up inside your clothing bag and one outside as you pack your suitcase. Even your tailored jacket will look like it just came out of the dry cleaners when you take it out of your suitcase. No more wrinkles in your clothes.
It’s not where you go that matters, but who you go with.
If you plan everything carefully, you lose your mind and your heart. So I usually plan the hotel and leave everything else free except for one or two activities. That’s really the most fun way to do it. The things I did spontaneously turned out to be the best memories for me.
As for places I want to go, my bucket list isn’t about places, it’s about people. My brother and sister and I have been talking for over a year now, trying to plan something fun, like a bike trip. But whatever the trip is, it has to be with them.
