13: 3 Rules for Crushing It in Business with ‘Shark Tank’ Star Barbara Corcoran

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 22 July 2019

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What does “The Queen of New York Real Estate” look for in an entrepreneur? As a “shark” on ABC’s “Shark Tank,” Barbara Corcoran hears a lot of pitches. She’s invested in entrepreneurs who have gone on to thrive... AND those who’ve failed or faded away. So what separates them? In this episode, Barbara shares what she’s learned both from the show AND her own remarkable, roller-coaster career. You’ll hear how she began her business career as an 11-year-old (even making the local paper), how she was inspired by her father’s unhappiness working for someone else, and how a failed relationship sparked her ambition to become New York City’s biggest real estate broker (which she accomplished!). You won’t want to miss the story of how she almost lost the Shark Tank job before it started, and how she fought tooth-and-nail to get the gig. You’ll hear her thoughts on investing in “the person,” rather than “the business,” when it makes sense to bootstrap vs. raising capital, why she distrusts entrepreneurs who use fancy jargon, and the surprising quality she values above all else. If you are interested in what makes some people succeed and others fail, you will love Barbara’s insights. Check out this show, and subscribe using your favorite podcast app so you won’t miss the next one! In This Episode We Cover: Barbara’s upbringing in a big, competitive family How a messy breakup lit her competitive fire How she launched a successful real estate brokerage in New York City Why sales is vital to every business Juggling work and family commitments Why it’s almost always better to bootstrap vs. taking on investors Why she’s turned off by the words “pivot” and “burn rate” Why Comfy Bros. turned out to be her best “Shark Tank” investment The #1 reason entrepreneurs fail Links from the Show BiggerPockets BiggerPockets Podcast Shark Tank Comfy Brothers (Shark Tank) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So, you want to be a marketer. It's easy. You just have to score a ton of leads and figure out a way to turn them all into customers. Plus manage a dozen channels, write a million blogs and launch 100 campaigns all at once. When that's done, simply make your socials go viral and bring in record profits. No sweat. Okay, fine. It's a lot of sweat. But with HubSpot's AI-powered marketing tools,
0:23.2	launching benchmark-breaking campaigns is easier than ever. Get started at HubSpot.com slash marketers.
0:30.5	Hello, blue skies. Hello moving onwards and upwards. Hello, taking control of your money.
0:37.9	Say hello to tax-free investing.
0:40.7	Open a Stocks and shares, ICER,
0:42.8	and act by the 5th of April to get 100 to 3,000 pounds cash back.
0:47.8	Cargreaves lands down.
0:49.4	Hello Life.
0:51.6	Register and add or transfer £10,000 plus.
0:54.1	You may get back less than you invests and tax benefits vary.
0:56.7	For terms and conditions, see hl.com.uk.org slash ISA.
1:00.9	This episode is brought to you by Vanta. Stressing over cybersecurity, whether you're a startup, growing fast, or already established.
1:08.7	Vanta can help you get ISO-27,001 certified and more.
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1:24.4	Head to Vanta.com slash Spotify to learn more.
1:29.0	Welcome to the Bigger Pockets Business Podcast show number 13.
1:35.8	The minute they are a victim in any way like, it wasn't my fault.
1:39.8	I have learned over the years of Shark Tank that those people will never succeed.
1:43.2	I mean, I'm nice, but I'm not going to spend any time because I know these people are never
1:46.6	going to, never going to succeed.
1:48.0	Victims don't succeed in life.
1:49.4	It's as simple as that.
	...

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