‘Shark Tank’ Star Barbara Corcoran Reveals Her True Passion

 I get to speak to plenty of very cool folks doing very cool issues right here at Entrepreneur. And each from time to time, I get to hang around with a real icon.

Such was the case once I sat down with this week’s “How Success Happens” visitor, Barbara Corcoran.

The actual property legend and “Shark Tank” star invited me to attend her All-Star Entrepreneur Retreat in New York Metropolis, the place she gathered a bunch of her prime portfolio firms from the present for intimate technique classes, media coaching, and extra. After a day of watching her work with these rising enterprise leaders and seeing how she will get within the weeds to assist problem-solve, I acquired to select her mind a bit. As you may anticipate, Corcoran was equal components good, inspiring — and extremely hilarious.

You may hearken to our dialog under, or in your podcast platform of selection. And take a look at highlights of the dialog right here, which have been edited for size and readability.

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You began a multimillion-dollar actual property firm. You are the host of an Emmy-winning TV present. You run these enterprise boot camps. Whenever you take a look at your resume, what is the one factor that jumps out at you want, Wow, I did that.
The very best half for me is working with the entrepreneurs, all of those small companies, attempting to make their goals come true. I am proper in there with them, fascinated with it, dreaming about it, attempting to offer them hints as to how they might get forward a lot quicker. That, for me, provides me the best satisfaction.

You could have spoken a lot about folks in your previous who stated hurtful issues to you and the way you employ that stuff as gasoline to your fireplace. How did you discover that mindset?
I realized very younger that unhealthy feedback, essential feedback, and chopping feedback take you down. It takes you down not solely in your emotions, however within the quantity of confidence you have got for the subsequent mission. You simply get weaker and weaker. So I do not permit these folks in. I flip the feedback into insults. How dare they insult me? And I show them fallacious. I feel you may take an insult and take a look at it two methods. It could damage you or it could possibly gasoline you. You could possibly do both. It is simply as simple to let it gasoline you. Say, Oh, I am going to present you. That is the form of individual I’m. I’ve realized to guard myself on account of it, and I am happier.

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You spoke a couple of nun who was fairly merciless about your dyslexia once you have been in grade faculty. Something you’d prefer to say to her now
That was Sister Stella Marie, who in third grade, advised me I’d all the time be silly as a result of I could not be taught to learn or write. Nicely, guess what, Sister? You’re lifeless, and I am sitting right here!

You talked rather a lot about how a enjoyable workplace tradition is usually a useful gizmo for recruiting and serving to an organization push by means of powerful occasions. What about for solopreneurs? How do you have got enjoyable when issues aren’t going your method?
Everyone is a solopreneur to start with — you do not come out of the gate hiring a workforce of individuals. However once I acquired caught at my desk and could not consider a brand new concept or did not wish to meet a buyer, I used to be good sufficient to get the heck outta there. I by no means had a good suggestion at my desk. I’d simply carry myself up and make it a enjoyable day only for myself. I would get on the subway and go to Jones Seaside. It was mainly free — all I wanted was the price of a subway token. I’d spend the day there listening to music, going into the ocean, and getting a pleasant solar tan. And I would come again the subsequent day a special individual. There’s one thing about taking a break for enjoyable that’s so good for the spirit — and it was my spirit that made my cash. What is tough work with out your spirit behind it? It by no means goes effectively.

To illustrate after a taping of “Shark Tank,” you all exit to dinner. When the examine comes, who’s grabbing the examine first?
Anybody however Mr. Great. He is very low-cost. He even invited me out for dinner as soon as along with his daughter, who’s about 18, asking me, ‘Might you present her the way in which about being a girl in enterprise?’ I used to be so flattered. We went to an costly restaurant. Once more, I used to be flattered. We drank an costly bottle of wine. I used to be flattered. After which the examine got here, and he did not attain for it. And I stated, ‘Kevin, you are not truly anticipating me to select up the examine.’ And he stated, ‘Would you thoughts?’ And I took that examine and fortunately paid as a result of I wished to inform this story!

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If Jeff Bezos invited you on the subsequent Blue Origin house flight, how would you RSVP?
Are you out of your thoughts? I’ve an excessive amount of to dwell for. Why would I danger getting on one thing like that? I fear about taking a daily flight. By no means thoughts house, neglect it. I can get my thrills elsewhere.

Many entrepreneurs battle with the notion of “I have to have a deep ardour for one thing earlier than I begin the enterprise.” Is that the way you felt?
Ardour is an energetic factor. You are feeling it once you’re within the enterprise. It is exhausting so that you can look from the sidelines and say, I feel I am captivated with that. Once I acquired into actual property, I may have been within the plumbing provide enterprise simply as simply. What I liked about actual property is that I like folks. I liked opening these doorways, chatting folks up, being impartial, and working to the subsequent condo. It was like an journey. That is what I fell in love with. That is what gave me my ardour. I by no means actually cared about actual property as a subject, however I cared about what I did as a dwelling, which was producing a brand new enterprise stuffed with individuals who love me and I like again.

Essential query: What’s your favourite curse phrase?
The one I actually use? No, I can not say that, my mom would bounce out of her grave. I promised her yearly I would not curse anymore. So I am going to offer you a light curse phrase: Holy shit. However that is nothing in comparison with what I often say!

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