When Barbara Corcoran started her real estate firm at age 23, she quickly noticed a difference between herself and her competitors.
Corcoran bought a wool coat with a brown and white print, high collar and a $320 price tag before tax, she said.
Despite its hefty price, Corcoran says the coat gave her the one thing she "desperately" needed at the time: confidence.
"I wore my coat for the next four years, and it was the best investment I ever made.
Nearly three decades after founding her firm, Corcoran sold it to brokerage firm NRT for $66 million.
Persons:
Barbara Corcoran, Corcoran, Bergdorf Goodman, Adam Galinsky, Hajo Adam, It's, You've, Warren Buffett
Organizations:
CNBC
Locations:
New Jersey