Barbara Corcoran Was Fired From 'Shark Tank' Before She Started. "I Didn't Take No For An Answer"

**SPEAKER_1** (0:00)
Shark Tank, what's your introduction to Shark Tank? How did you hear about it? And how does the relationship with Shark Tank start?

**Barbara Corcoran** (0:06)
I got a call one day, I was doing some gigs on Real Estate on The Today Show, like once a month or something like that. And I got a call from a producer named Mark Burnett, who I had no idea was a big producer, or his assistant. I don't mean to overplay that, his assistant called me, asking me if I'd be interested in the show described. I said, sure. I signed the contract with him four days, I sent it right out, sent it back. And then two days before I was headed to Shark Tank and told all my friends, I'm going to Hollywood. Wow, I'm going to Hollywood. I bought new outfits, I bought new luggage, I can do the whole nine yards.
I got a call saying they changed their mind, they invited another woman.
I couldn't believe it. But I did what I did do always very well in my old career. I didn't take it laying down. I sat down, again, I'm gonna use the word piss, sat down and wrote the email to Mark Burnett, you're making a mistake, I consider your mistake my lucky charm. Blah, blah, blah. I've had all the best things happen in my life on the heels of rejections and I cited Sister Stella Marie telling me I'd be stupid, the old boy network telling me I'd never compete with them in the old boy network, defeating Donald Trump when he said I'd never see a penny of the $4 million commission. And I just cited the high points. And then I said, I suggest you invite both women out to LA and we compete for the seat. And that's exactly what he did. Thank God I wrote that email. I've been on Shark Tank, what, 15 years? 15 years. Imagine if I didn't have all those delicious entrepreneurs I got to work with. I mean, I'm sure I'd find another way to make a living because I'm a worker, but I wouldn't have had as satisfying a career as I've had.

**SPEAKER_1** (1:38)
Well, that's a valuable point because a lot of times people would have just taken the rejection and moved on.

**Barbara Corcoran** (1:44)
Yeah, move on. It seems prudent when you think move on, get over it.

**SPEAKER_1** (1:48)
Yeah. Yeah.

**Barbara Corcoran** (1:49)
No, but what is important, the piece there that I have learned here with my entrepreneurs is the space between people move on. A great entrepreneur, I've seen it again and again with every single person who has made a lot of money and really been successful, they take less time feeling sorry for themselves. They take the hit, but they don't wallow in it. They just get back up and say, hit me again, almost like they have a low IQ.

**SPEAKER_1** (2:14)
That kind of a thing.

**Barbara Corcoran** (2:16)
But those are the winners. Those are the people who just keep coming back, keep coming back at you. And that's far more important than intelligence or knowledge or anything else. I think it's a drive to come back when you've been hit.
I haven't really thought of anything more important than that in my whole life and watching my entrepreneurs. That is the number one trait without a doubt in my mind.

**SPEAKER_3** (2:37)
So in 15 years, as these people are walking with their businesses, the first thing you're looking for is do they have the drive? What are some of the characteristics that you're looking at as they present?

**Barbara Corcoran** (2:46)
I have a test. I mean, the presenting is great, but there's a lot of pressure on the show to ask a lot of questions, rapid fire really fast. Very often, it's a hard thing to really get to know the person. I'm trying to dig for bad backgrounds, fathers that were drunks, mothers that damn them to hell. I know that sounds stupid, but if they came through adversity, I mean, if somebody's a rich kid and got the first round, I hate family and friends. Family and friends, you don't need me, just go to your family and friends.
But the most important thing happens to me, I invite, intentionally, everybody, I'm signing a contract with three months after I sign, I invite them to New York to discuss with me what are the biggest issues, and they come very well-prepared, but I watch. The people who take careful notes and ask me all the questions, how they're going to succeed and ask me this and that, I know I got a loser.