Barbara Corcoran, a renowned real estate entrepreneur and a key investor on Shark Tank, often credits a disparaging remark from her former business partner as a catalyst for her remarkable success. In a revealing interview with NowThis Impact, aired on July 16, 2018, she recounted how her partner left her for her secretary, rightfully proclaiming that Corcoran would never achieve success without his assistance.
“I was in business with him living with him for seven years and he told me on the way out the door ex I left finally when I had the courage and started my own business all over again and he said I’d never succeed without him. Let me tell you, the best advice—an insult—I think I used that insult to build the rest of my career.”
This statement served as a significant motivator for Corcoran, driving her to excel in the highly competitive New York real estate sector.
Harnessing Insults: How Barbara Corcoran Transformed Criticism into Success
Aspirations Fueled by Negativity
After experiencing this profound setback, Corcoran was determined to prove her ex-partner wrong. She passionately conveyed how negative comments ignited her drive, stating:
“I fueled me when I couldn’t find fuel in other places.”
This resilient mindset kept her focused during the challenging early stages of her business journey, nurturing her aspiration to emerge as a leading figure in New York real estate.
“I was hyper-focused because all I wanted to be was the queen of New York real estate,”she stated.
The Power of Hard Work and Strategic Preparation
Corcoran attributes much of her success to relentless hard work, claiming that her strong work ethic set her apart from peers. She asserted:
“If you work twice as hard at something, you’re generally going to get twice as far, if not three times farther.”
Additionally, she emphasized the importance of meticulous preparation. Her profound commitment stemmed from a fear of inadequacy, compelling her to over-prepare for every encounter, thus empowering her to tackle challenges head-on. This approach has not only helped her navigate obstacles effectively but also fostered a greater sense of confidence in competitive environments.
Resilience: A Crucial Trait in Entrepreneurship
In her entrepreneurial journey, Corcoran has encountered numerous challenges, reinforcing the importance of resilience. She candidly discussed how setbacks are an inherent part of building a business, noting:
“When you’re building a business, you have your good days, but you have a lot more bad days than good days.”
Overcoming these barriers and maintaining perseverance are crucial to achieving lasting success. Corcoran elaborated on this idea, stating:
“You have to really be able to take anything that hits you in the head or flies in your face and think quickly on your feet on how to solve it.”
Her experiences underscore that resilience and the ability to recover from failures are defining characteristics of successful entrepreneurs. Corcoran firmly believes that the readiness to rise after any fall is vital for crafting a successful business, a principle that continues to resonate even today.
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