Barbara Corcoran’s Greatest Success Happened ‘On the Heels of Failure’ — Here’s What You Can Learn From Her
Written by
Laura Bogart
Edited by
Kristen Mae
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Watching Barbara Corcoran make big plays on “Shark Tank,” reading any of her best-selling books, or listening to interviews where she shares market insights, you’d think confidence and success have always come easily to the real estate mogul. But you’d be wrong.
As a child, Corcoran struggled with schoolwork, earning straight Ds because of dyslexia — a condition she didn’t even know she had until her son faced similar learning challenges. While building her empire, she’s endured her fair share of heartbreak and had to learn how to value herself and her business.
What’s her secret to success? Ironically, it comes from failure — or more precisely, learning from failure and not letting it hold her back. In a conversation with Jamie Kern Lima, Corcoran shared how some of her biggest triumphs have emerged from failure.
Learning Empathy for Others
No one is an island. Even the most successful people need others’ hard work and passion to help achieve their dreams. Knowing how to bring out the best in your team means being an intuitive and compassionate manager — a skill that Corcoran learned from her own experience of “feeling like a loser” as a struggling student.
In her talk with Lima, she described her ability to walk through any of her firm’s many offices — even suites with 300 desks — and know, intuitively, which employees felt like they were failing.
“I walk up, put my hand on the person’s shoulder and say, ‘Hey, how are you doing?'” she said. Inevitably, the answer was “not great,” with the person often planning to quit in despair. She recalled her own anxiety about being called on in class and the relief of being able to go home to her mother, who accepted and encouraged her.
By identifying and supporting employees who need extra mentoring or inspiration, Corcoran has built a reputation as a leader who inspires loyalty and hard work from the people around her.
Not Taking No for an Answer
Corcoran became a household name thanks to her tenure on “Shark Tank,” but her big break almost didn’t happen. After being cast for the show and sharing the news of her big TV debut with friends and family, she received a message from the producer saying they’d decided to go in a different direction.
The only direction Corcoran was heading was straight to Hollywood. Though she admitted she felt sorry for herself, she didn’t cry or mope. She got angry, and she used that anger productively. She wrote to the producer to tell him he’d made a mistake. She outlined her accomplishments and insisted on being given a chance to compete against the other candidate for the spot.
“When the chips are down, I know how to come back,” she told Lima. “I formed a habit of trying hard.”
Her persistence paid off. Corcoran ultimately earned her place on the show, where she built a platform that has inspired millions.
Remembering Your Personal Power – Without Ignoring Your Emotions
While Corcoran admits to experiencing major self-doubt after the initial rejection from “Shark Tank,” she resolved not to feel like a victim — because, as she told Lima, taking on a victim role means giving away your power.
She was able to rebound in part because she acknowledged her feelings of sadness and frustration, indulging in a bit of “what’s wrong with me?” before channeling her anger into action. In her email to the producer, she didn’t shy away from listing her accomplishments and highlighting how she’d been underestimated as a woman in business.
Corcoran didn’t compete against the other potential shark with a guarantee of success. She put her faith in her capacity for getting back up after disappointment.
“I’ll out-try anyone,” she told Lima. “And I’ll win.”
Ultimately, she won — not just the competition but also the satisfaction of seeing her name on a gold star on her trailer door.
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