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Earlier this week at the Entrepreneur’s Growth Conference in Miami, “Shark Tank” investor Barbara 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 end regretfully informed her that her 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.
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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.”
