Barbara Corcoran’s most successful entrepreneurs are street smart
Barbara Corcoran is a real-estate mogul and an investor
on the ABC series “Shark Tank.”
She’s found that all the most successful founders she’s
invested in are street smart.
They also take responsibility for their own
After nine years as an investor on the ABC series “Shark Tank,”
Corcoran has learned certain qualities contribute to an
entrepreneur’s success or failure.
The No. 1 trait of the most successful company founders? On an
episode of Business Insider’s podcast, “Success!
How I Did It,” Corcoran told US editor-in-chief Alyson
Shontell that it’s simple: street smarts.
Listen to the full episode here, or listen later with
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Another quality that helps company founders succeed, according to
Corcoran: “When they’re slammed they don’t feel sorry for
She told Shontell:
“I’ve talked to more entrepreneurs after I’ve invested within the
first of maybe eight, nine months, after the shine of ‘Shark
Tank’ is gone, after the rush of sales is behind them, where
something goes wrong and then I’m on the phone or on a Skype call
with them and I hear them blaming it on someone else, like, ‘The
shipment never came in! The guy didn’t do this such and such.’
“Right! It’s another version of ‘Oh, poor me.’ The minute I hear
that, I go right to my wall where I have all my entrepreneurs and
frames, beautifully matted, and I hang that picture upside down.
And why do I do that? Just to remind myself that I shouldn’t
spend any time with that person, because they’re never going to
succeed. Every one of my successful businesses are run by
entrepreneurs who are so good at taking a hit and getting back
up. They just don’t feel sorry for themselves.”
Corcoran’s feelings about blaming other people aren’t unique.
According to Darlene Price, president of Well Said, Inc., and
author of “Well
Said! Presentations and Conversations That Get Results,”
leaders should avoid the phrase “That’s not my fault” at all
“While no one likes to feel blame, a great leader absorbs the
hit, demonstrates accountability, and rallies the team toward a
Price previously told Business Insider. “Instead of blaming
previous management, the former administration, other
departments, or the economy, say, ‘Let’s talk about what we’re
going to do next to ensure success.'”