These days, Barbara Corcoran is probably best known for judging the start-up pitch show, Shark Tank. As a native New Yorker and real estate fangirl, however, I will always think of Barbara Corcoran as the founder behind New York City real estate agency, The Corcoran Group.
After splitting with her boyfriend and first business partner, she went out on her own with half the remaining team (seven agents) and built the agency to become the largest in New York City before selling it for $66 million in 2001.
Be willing to prove yourself
You would think that after such a successful exit, Corcoran would be a shoe-in for Shark Tank. But she was actually not the first choice (there was only one spot earmarked for a female judge at that point). Although she had a signed contract, her offer was rescinded and given to someone else.
She didn’t take No for an answer. She didn’t just slink off insulted. She wanted to be on the show, so she asked for reconsideration – a screen test against the other pick. She got her screen test, and got picked.
Move past No
I first heard that Shark Tank story in 2012 when Corcoran gave a talk at a small business event in 2012. Corcoran recently guested on the Bigger Pockets Business Podcast, and again reiterated the need for a fighting spirit for any entrepreneur who wants to hit it big.
She mentioned that she can tell if an entrepreneur will be successful when something goes wrong. Do they take personal responsibility? Can they move past No?
This prompted me to review my own favorite strategies for moving past No. I teach Negotiation at a New York City college, so I better have some strategies! Three of my favorites:
- Get curious – instead of getting defensive, ask questions to understand why the answer is NO. You may uncover something that will help you change their mind.
- Think Not Now, whenever you hear No – the No isn’t forever. It’s a No to what you asked for, when you asked, how you asked or who you asked. Change any of these levers, and you may get a different response.
- Brainstorm on what else your counterparty can say YES to – tweak the request, or change the timeline. Get creative about what you’re asking for.
Connect instantly by finding the common bond
I was lucky enough to get a picture with Barbara at the small business event, and at the time I had short hair and a cut very similar to hers. Of course, she pointed that out, complimenting my excellent choice in hairstyle with a wink. She put me at ease in seconds, and I experienced firsthand why she is so good with sales!
Take good care of your business, your family and yourself
During the Bigger Pockets interview, Corcoran mentioned that the most satisfying money she ever spent was on brand new cars for her parents. She also continually reinvested profits back into her real estate agency.
However, she knew to take care of herself. In one of Corcoran’s early books, Use What You Got And Other Business Lessons I Learned From My Mom, she relayed how she treated herself whenever she closed a big sale. I think this quote sums up best why self-care is so important:
I used to think the Corcoran Group was my golden goose. Once I sold it, I realized I was the golden goose
– Barbara Corcoran
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We’re still working on building that 8-figure business, and when I hit a crossroads I can think back to, “What would Barbara do?”
We are Scott and Caroline, 50-somethings who spent the first 20+ years of our adult lives in New York City, working traditional careers and raising 2 kids. We left full-time work in our mid-40’s for location-independent, part-time consulting projects and real estate investing, in order to create a more flexible and travel-centric lifestyle. 
Financial independence and early retirement is not something we originally focused on, but over time realized it was possible. Our free report, 
