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Earlier this week at the Entrepreneur’s Growth Conference in Miami, “Shark Tank” investorBarbara Corcoran shared what she believes is the number one predictor of a person’s success in business — and it’s not what you think.
When Barbara Corcoran was first offered her role on the popular “Shark Tank” show, she celebrated by telling everybody she knew.
At her age, she couldn’t believe that any producer would want her on television. However, according to Entrepreneur, four days before she flew into Hollywood to start filming, she received a phone call.
The voice on the opposite endregretfully informed her thather role had been taken back and given to someone else.That wasn’t the real kicker, however:They also explained that the reason she was getting kicked off the show was so that they could replace her with a big-breasted blonde half her age.
As any normal person might do, Barbara withdrew into self-pity, calling herself names and blaming herself for thinking she could ever be on “Shark Tank.” However, what Barbara did next is what really draws the line between winners and losers.
She got pissed — and she emailed those big shot execs in their leather chairs exactly what she thought about being ousted for a bigger bra size.
“I consider your rejection a lucky charm, because everything that ever happened in my life came on the heels of failure.”
Surprised by her bold reply, the execs at Mark Burnett Productions asked Barbara what she proposed they do.
Like an old-school spaghetti western hero, Barbara suggested they compete. What exactly ensued is unknown. Maybe Barbara beat her in a foot race or knocked her out in a boxing ring, but whatever happened, Barbara ended up with the role, and the rest is “Shark Tank” history.
The moral of the story? Nothing sums it up better than the immortal words of Winston Churchill: “Never, never,never give up!”
Indeed, the ability to brush off disappointment and get back to work is what Barbara most attributes to her success. It’s an attitude. It’s a toughness that’s willing to square off with insecurity and go the distance.
Barbara’s life is full of disappointments. Of course, sometimes her emotions get the best of her, but she never allows herself to writhe in self-pity.
At one point, her former boyfriend Ramone “Ray” Simone dumped Barbara for her secretary after the two had built a giant real-state business together. Barbara shed a few tears and then split their company in half. She moved her office three floors up and told her ex that she would grow their business to even greater success by herself.
He told her she couldn’t do it, but Barbara went on to sell The Corcoran Group for $66 million in 2002.
Barbara’s advice for young entrepreneurs (or anybody for that matter) who may suffer from fear of past failures? Shake it off, be grateful for your experiences and adopt this attitude:
“I have just as much right to be here as you. I’m just as smart as you. I’ve done a lot. I do this whole thing on my own. And I’m so grateful I had to come out of that hole to do it.”
FAQs
Shark Tank's Barbara Corcoran says her 'painful' battle with dyslexia made her the millionaire real estate mogul she is today: 'It's the whole reason I succeeded' The real estate mogul thinks having dyslexia made her more adept at brushing off failure.
Who replaced Barbara Corcoran? ›
From the third season, Kevin Harrington was replaced by Mark Cuban, while the "queen of QVC" Lori Greiner replaced Barbara Corcoran on 4 episodes. Kevin O'Leary, Daymond John, Robert Herjavec, and Mark Cuban appeared in all 15 episodes of season three.
Who did Barbara Corcoran sell her company to? ›
Corcoran also shared in the interview that after NRT, now known as Anywhere Advisors, paid her the $66 million, she kept the money in her checking account for four years instead of investing it, something she admitted to the hosts was irresponsible.
Who is the most successful Shark Tank member? ›
Who is the richest Shark on 'Shark Tank'? While all the Sharks have their own successful pursuits, Mark Cuban is by far the richest Shark, with a net worth of $6.2 billion under his belt as of 2023.
Did Barbara have a facelift? ›
Shark Tank star Barbara Corcoran, 75, got real about cosmetic procedures. She has undergone two facelifts over the last two decades. “Worth the money,” she wrote. “At least I'm honest.”
Did Barbara Corcoran sell Corcoran? ›
In the mid-1970s, she also began publishing The Corcoran Report, a newsletter covering real estate data trends in New York City. In 2001, Corcoran sold her business to NRT for $66 million.
Who is Lori Greiner husband? ›
She is married to Dan Greiner.
Is Barbara Corcoran a billionaire? ›
Is Barbara Corcoran a billionaire? Barbara Corcoran is not a billionaire, but with an estimated net worth of $100 million, she's still pretty darn rich. She's also insistent that money doesn't buy happiness. “I'm no happier today than I was when I was dirt poor," she told CNBC Make It.
Why did Barbara Corcoran sell her company? ›
She lacked a chief financial officer and a bookkeeper, she said, making it hard to keep up with business operations as Wicked Cool Toys once did.
Why did Barbara leave Shark Tank? ›
The producers initially had a change of heart shortly after offering her a role, opting to go in a different direction with another entrepreneur. Determined not to let this setback define her, Corcoran composed an email that showcased her tenacity and convinced the producers to reconsider.
In the mid-1990s, she invented a plastic earring organizer, patented it and launched her first company. The earring organizer was an immediate hit at JCPenney, which allowed Greiner to expand her business into other product categories, such as travel, electronics and household items.
Who turned down $30 million on Shark Tank? ›
Hanalei Swan, an 11-year-old prodigy, is one such remarkable individual who made headlines by turning down a staggering $30,000,000 investment offer on the hit TV show, Shark Tank. Hanalei's journey and her audacious decision to walk away from such a lucrative deal serve as an enduring source of inspiration.
Which shark has lost the most money? ›
Kevin O'Leary, also known as Mr. Wonderful, has had the biggest loss on Shark Tank.
What is the #1 product in Shark Tank history? ›
With more than $225 million in lifetime sales, Bombas has generated the highest sales on "Shark Tank".
Are dyslexics more successful? ›
Dyslexia is a learning disability and is characterized by problems with writing ,reading and spelling. Although dyslexia should theoretically act as an impediment to success in achieving millions in net worth, practical life shows that there is a strong correlation between dyslexia and success.
What happened to Barbara on Shark Tanks face? ›
I heard you had a scare with basil cell carcinoma. yes, I did. I had built my business, sold it, and I worked so hard, such long hours building that business, that I looked at my face looked at. so I decided to have a facelift.
Are most millionaires dyslexic? ›
Studies show that many millionaires have dyslexia
In 2003, the Tulip Financial Group studied self-made millionaires in Britain and found that 40% of them had been diagnosed with dyslexia. A study by Richard Branson's Virgin Group also found that 35% of successful entrepreneurs in the United States had dyslexia.
Is Barbara on Shark Tank a billionaire? ›
Barbara Corcoran is known for being a "shark" on ABC's Shark Tank, so it comes as no surprise that her estimated net worth is sky-high—$100 million, according to Celebrity Net Worth. The New Jersey-born businesswoman and TV personality rose to her TC investor status thanks to her background in real estate.
