"The Fashion Transformation of Barbara Corcoran"

Barbara Corcoran, now a 74-year-old real estate tycoon, reflected on her early days in the real estate business and how one coat made a significant impact on her career.

When she started in real estate at 23, she noticed a gap between herself and the experienced players in the field. Corcoran explained, “It dawned on me that success had a certain look. While the elites paraded in their finery, I was still donning my worn-out navy blue coat from New Jersey. A wardrobe upgrade felt like a distant dream.”

However, during her early business days, she had a stroke of luck. “After renting out an apartment in my very first week, I had a $340 commission burning a hole in my pocket,” she said. “My immediate destination? Bergdorf Goodman, with my eyes set on the most exquisite coat they had.”

She invested in a luxurious wool coat with a distinct brown and white design, a snug high collar, and a price of $320 before tax (equivalent to $2,235 today). For Corcoran, this coat represented more than just fabric; it was her “armor of confidence” that transformed her into the successful professional she aspired to be. “For the next four years, that coat was my constant companion, pushing me to mirror the success it exuded.”

Psychologists have studied the impact of clothing on a person’s psyche, coining the term “enclothed cognition.” Wearing specific attire can enhance focus and confidence, as illustrated by a study on students wearing lab coats.

Barbara Corcoran’s coat investment not only boosted her morale but also resulted in tangible returns. Her small real estate firm, which began with such modest beginnings, was eventually acquired by NRT for $66 million.

Corcoran’s story emphasizes the importance of perception shaping reality and the role of confidence in achieving success. She believes that embracing the appearance of your future self is key to personal growth and achievement.

Re-reported from the article originally published in Benzinga