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

Summary

Earn Your Leisure Podcast: Barbara Corcoran Was Fired From 'Shark Tank' Before She Started. "I Didn't Take No For An Answer"
Episode Date: July 21, 2026 | Hosts: Rashad Bilal & Troy Millings | Guest: Barbara Corcoran

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Episode Overview

In this inspiring and candid episode, Shark Tank star and legendary real estate mogul Barbara Corcoran joins Rashad and Troy to share her entrepreneurial journey, lessons on rejection, building business resilience, the power of bootstrapping, and behind-the-scenes stories from Shark Tank and beyond. Barbara dives deep into what makes a successful entrepreneur, how being fired from Shark Tank before even starting led to her greatest opportunity, and her unfiltered philosophy for both investing and personal reinvention.

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Key Topics & Insights

1. Getting Fired from Shark Tank Before She Started

Timestamp: [02:11–03:37]

• Barbara recounts being initially chosen for Shark Tank, signing her contract and preparing to leave, before being abruptly replaced by another woman just days before filming.

• Instead of accepting the rejection, she wrote a bold email to producer Mark Burnett, stating he was making a mistake and insisting to compete for the seat.

• Quote (03:10):
  “I sat down and wrote the email to Mark Burnett—‘You’re making a mistake. I consider your mistake my lucky charm…All the best things have happened in my life on the heels of rejection.’” – Barbara Corcoran

• Mark Burnett invited both women to compete and Barbara won the seat, launching a 15-year run on Shark Tank.

• Reflecting on what might have been if she accepted the "no":
  “Imagine if I didn’t have all those delicious entrepreneurs I got to work with… I wouldn’t have had as satisfying a career as I’ve had.” (03:38)

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2. The Resilience Factor: What Makes a True Entrepreneur

Timestamp: [03:48–06:48]

• Barbara identifies the single most important trait for entrepreneurial success: getting back up fast after failure or rejection.
• Intelligence or knowledge are less important than the drive to come back after being knocked down.
• Quote (04:15):
  “Winners are the people who just keep coming back at you… It’s far more important than intelligence or knowledge or anything else.” – Barbara Corcoran
• She looks for entrepreneurs who don’t wallow in setbacks, describing them as “headstrong” and not dependent on guidance.
• Those who take careful notes and rely heavily on her advice are often “losers” in her view, as true entrepreneurs follow their own vision.

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3. Deal-Making: Best Investments and Most Satisfying Moments

Timestamp: [06:50–09:07]

• Barbara’s most profitable deal is “Comfy”—an oversized sweatshirt business that skyrocketed unexpectedly:
  “In two years…I think I had $47 million in sales in two years over this stupid oversized sweatshirt!” (07:14)
• Her most satisfying deal is with Cousins Maine Lobster:
  “The guys have phenomenal chutzpah to the moon. They’re great salespeople, good looking—and that counts! They even charm me, call me up to tell me how pretty I am. I love those guys.” (08:34)

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4. Advice for Pitching Investors and Raising Capital

Timestamp: [09:07–10:06]

• Entrepreneurs must show actual sales and clearly communicate to investors “how you’re going to make money.”
• Quote (09:29):
  “You have to answer straight down the middle how you’re going to make money and how much money you’re going to make—which is hard to do.” – Barbara Corcoran

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5. The Power and Pitfalls of Bootstrapping

Timestamp: [13:46–14:48]

• Barbara advocates for starting businesses with your own money whenever possible:
• Quote (13:51):
  “When you’re spending your own money that you slaved around for…you spend it very carefully. You get about $3 out of every dollar.” – Barbara Corcoran
• She asserts that bootstrapping builds discipline, resourcefulness, and a much closer relationship to the business’s success or failure.

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6. Branding and Social Media in Modern Business Growth

Timestamp: [14:48–15:48]

• Today, the most critical platform for business growth is social media.
• Barbara only invests in businesses with powerful social media presence or tremendous potential for brand growth via these platforms.
• Quote (15:09):
  “It’s all about social media… In the last two years, I haven’t invested in a single business that isn’t powerful on social media… That’s all that counts anymore.” – Barbara Corcoran

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7. Battling Donald Trump and Lessons in Grit

Timestamp: [15:52–17:26]

• Barbara reveals her past dealings with Donald Trump—mutually leveraging press opportunities and later fighting him in court over a $4 million commission.
• She only defeated Trump after saving up enough money for the best legal representation.
• Quote (16:51):
  “The year he didn’t want to pay me my $4 million… thank God, I had $500,000 to pay an attorney, and I bought the biggest, meanest, smartest attorney in New York to fight that man. And I won.” – Barbara Corcoran

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8. Inside Shark Tank: Competition and Closing the Deal

Timestamp: [17:36–18:57]

• The competition among sharks is fierce—when one really wants a deal, others pay attention.
• Entrepreneurs usually pick the partner, not just the money, and Barbara sells herself on everything, including offering fun retreats for entrepreneurs.
• Quote (18:20):
  “I just push my wonderful virtues… All my entrepreneurs are going to be your best friends. You’re bored? We go on fun retreats. I sell them on everything, throw out the kitchen sink.” – Barbara Corcoran

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9. On Reinvention and Fearlessness in Business

Timestamp: [18:57–21:11]

• Barbara stresses the importance of relentless experimentation and adapting to stay relevant.
• She dismisses waiting for perfect plans—her tactic is to try anything and everything, accepting frequent failure as part of the innovation process.
• Quote (19:18):
  “I try anything. I don’t think you wait until you see you’re out of style… Four out of five things I failed miserably. But I bet you can’t tell me one that I failed at, right?… You just have to try all the time.” – Barbara Corcoran
• She highlights how small entrepreneurs are more creative and adaptive than large corporations, urging listeners to focus on scrappiness over scale.

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Notable Quotes & Moments

• (03:10) Barbara Corcoran on persistence after rejection:
  “You’re making a mistake. I consider your mistake my lucky charm… I suggest you invite both women out to LA and we compete for the seat.”
• (04:15) On resilient entrepreneurs:
  “It’s a drive to come back when you’ve been hit… That is the number one trait…without a doubt in my mind.”
• (07:14) On her most profitable deal:
  “$47 million in sales in two years over this stupid oversized sweatshirt!”
• (08:34) On the Cousins Maine Lobster deal:
  “They call me up to tell me how pretty I am. Do you know how good that feels at my age? I love those guys.”
• (13:51) On bootstrapping:
  “You learn everything with your own money. You learn the pain, you learn the joy, you learn it all.”
• (16:51) “I bought the biggest, meanest, smartest attorney in New York to fight that man. And I won.”

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Episodes’ Takeaways

• Resilience is the single most critical entrepreneurial trait. Success comes from quickly bouncing back from setbacks, not from avoiding them.
• Rejection should fuel opportunity, not derail ambition.
• Bootstrapping and prudent use of personal resources foster discipline and deep learning.
• Authenticity and sales traction are essential to pitching investors.
• Social media now dominates the business branding landscape—Barbara won’t invest otherwise.
• Reinvention is an ongoing process. Trying (and failing) often is the only way to discover what works.

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Barbara’s genuine insight, humor, and relentless optimism make this episode essential listening for business owners, aspiring entrepreneurs, and anyone facing tough odds. Her stories offer a real-world masterclass in grit, adaptation, and the art of the comeback.

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Transcript

[Barbara Corcoran]

This is an iHeart podcast.

[Podcast Host]

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[Interviewer]

Yeah, what's your introduction to Shark Tank? How did you hear about it? And how does the relationship with Shark Tank start?

[Barbara Corcoran]

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 within four days, 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 could do the whole nine yards. I got a call saying they changed their mind, they invited another woman. I couldn't believe it. 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 going to 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 born network, defeating Donald Trump when he said, I never see a penny of the four million dollar 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?

[Co-Interviewer]

15 years.

[Barbara Corcoran]

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 a satisfying career as I've had.

[Interviewer]

Well, that's a valuable point because a lot of times people would have just taken the rejection and moved on.

[Barbara Corcoran]

Move on. It seems prudent when you think, move on, get over it.

[Interviewer]

Yeah. No, no.

[Barbara Corcoran]

But what is important, the piece that I have learned working with my entrepreneurs is the space between people. Move on. A great entrepreneur, I've seen it again and again with every single person has made a lot of money and really been successful, they take less time feeling sorry for themselves. They take the. But they don't wallow in it. They just get back up and say, hit me again. Almost like they have a low iq. It's kind of like that kind of a thing. 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. Without a doubt in my mind.

[Co-Interviewer]

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]

I have a test. I mean, the presenting is great, but, you know, 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 damned them to hell. I know that sounds stupid, but if they came through adversity, I'm in it. If somebody's a rich kid and got the first round from family, I hate family and friends. Family and friends. You don't need me. Just go to your family and friends, you know. But the most important thing happens to me. I invite intentionally everybody I sign 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. And you know what? 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. When somebody's sitting there and politely listening and they're just going to go out on their own and do exactly as they please, I got myself a winner because that is the nature of a great entrepreneur. They're headstrong, they're driven. You know, they don't. They didn't get into the business to have a boss tell them what to do. And if somebody's putting me in the position of kind of being the new boss, it's like not a good sign. I don't know if you've walked my office, but I have all my entrepreneurs in frames that I do deals with. And the minute I see them acting that way, taking notes or blaming something that went wrong on somebody else, I turn the picture around. I know they're not going to succeed. The minute you have someone who feels sorry for themselves, they don't succeed. That's been my rule all along. I'm open minded to change it, but I've never seen an exception to that. Feeling sorry for yourself makes you a victim. If you're a victim you give your power away. If you give your power away, you don't see opportunity. If you don't see opportunity, you don't get ahead. It's like boom, boom, boom, boom boom. Follows just like a train line.

[Interviewer]

Domino effect.

[Barbara Corcoran]

Yeah.

[Interviewer]

So we spoke with Damon. He talked about bomba socks. I think that was his biggest.

[Co-Interviewer]

Very proud. Very proud.

[Barbara Corcoran]

I love those bomba socks. I hate seeing Damon make fun of. I'm annoyed I didn't get that deal.

[Interviewer]

What. What's the deal that you remember or your top deal or one of the deals that you know is a highlight for you?

[Barbara Corcoran]

Well, the most profitable deal is. That is definitely comfy.

[Co-Interviewer]

I mean the good old comfy.

[Barbara Corcoran]

Good old comfy. I mean, it's not my kind of deal. I like service businesses where I could build. Build an empire or build a franchise or build something on a service back. That's my sweet spot. So it was so abnormal. I should do more of them actually to actually buy that because an oversized sweatshirt, the guy had no experience. They didn't know how much it would cost. They didn't know what they would sell it for. And in two years, I can't even remember the number. It seems so absurd. Like I'm making. I'm probably making up, but let's just say I should probably check with somebody. I think. I think I had $47 million in sales in two years over this stupid oversized sweatshirt. Whoever saw that train coming, when I said to them, I'll take a 30 year business, the sharks here are at all interested in this. I'll take a third for 10,000 or $20,000. They grabbed it. And that was my single. My best deal. My best deal today. Money making, if that's what you mean. Money making, which is a little different than satisfaction.

[Co-Interviewer]

So what that leads. The question is, so what's the most satisfying? Because as you were speaking, I looked at. I'm looking at the list and I've watched the show, so I know you're more into the service space. I've actually visited some of the, you know, your investments, the cousin Maine's lobsters, which is incredible here in the city. So what has been the most satisfying one for you?

[Barbara Corcoran]

Exactly that. Because that one I love it. The guys have found phenomenal. I'm sure you know that.

[Co-Interviewer]

Yeah, that's great.

[Barbara Corcoran]

Damon always comes out for them. When do a promotion. Damon loves these guys. He always comes out and performs for them. He's a sweetheart. But these guys, one is one type of personality, the other is the opposite. They've Got chutzpah at the moon. They're great salespeople, they're good looking. And if you think that doesn't count, it counts. They charm the pants off anybody they meet, okay? And they even charm me. They call me up to tell me how pretty I am. Do you know how good that feels at my age? I love those guys, but they both got married. Too bad. Since I invested, have kids and all that stuff.

[Interviewer]

Shame on them. So for the entrepreneurs, everybody watches Shark Tank, right? What advice could you give somebody that's looking to seek money from a venture capitalist or angel investor or somebody like yourself? Like, what are some things that they need to have prepared before they start pitching their business for capital?

[Barbara Corcoran]

Two things they need, they need to show sales, an attraction of sales going up to the roof. That's important. They also need to tell the investor, which many people on Shark Tank don't tell us. How are you going to make money? Hey, let me tell you how you're going to make money. Because any guy sitting there with money in his pocket to invest has that question right in his forehead, how am I going to make money? They're measuring everything by that basis. How am I going to make money? So I would say you have to have appreciating sales and you have to answer straight down the middle how you're going to make money and how much money you're going to make, which is hard to do. You know, most people don't do that. They project out based on industry averages and how big the market is.

[Interviewer]

Earners.

[Podcast Host]

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[Barbara Corcoran]

And let me tell you, every investor, not just on Shark Tank, but every investor, writes it right off. But more important than any of that is try to bootstrap your business. I'm just a believer in bootstrapping. When you're spending your own money that you slaved around for to try to make that buck and did everything in your mind to try to grab that buck, you, you spend it very carefully. You get about $3 out of every dollar. You know, you're just careful with how you spend your money. When you got family and friends or investors behind you, you just don't spend your money the same way. It's different. I don't know, it shouldn't be different, but it's different when you've earned the money and you're spending your own bucks. So I think bootstrapping businesses are a great way to get started rather than going off of funding right away. Of course, if you're in a technology business that takes tremendous cash to get it started, that's one thing. But those are not the majority of businesses in the United States, the majority of mom, palm, Main street type businesses. So bootstrapping, you learn everything with your own money. You learn the pain, you learn the joy, you learn it all. It's different with your own money, for sure.

[Co-Interviewer]

Yeah, talk about the branding process, because I'm thinking as people come into it, they have the pitch and it happens. And like you said, most of them are mom and pop shops. Getting their name out there, getting the message out there is difficult. As you take on investors. What, what are some of the strategic tips that you're telling them? All right, here's how we're going to market this now to make this a

[Barbara Corcoran]

global sensation, most, the most important thing is to pick the right platform. Social media. When I was building my business, you had the newspapers, the major newspapers I used, you had billboards, you had gimmicks, whatever. Today it's changed. Today it's all about social media. Do you know, in the last two years, I haven't invested in a single business that isn't powerful to social media? They might have a little company, but their following is huge. That's a good plus. It's like having an empty box you could fill up. You know, but no, social media is where it's at. I have great social media in house here that help people, but people really, you really need someone on your team, ideally the principal, who's going to push out the social media because it's the best way to build a brand. That's all that counts anymore.

[Interviewer]

Yeah, we know it, too. About that thing or two.

[Co-Interviewer]

That's it.

[Interviewer]

You spoke about Donald Trump.

[Barbara Corcoran]

Yeah.

[Interviewer]

Previously, you had a run in with Trump during your real estate days.

[Barbara Corcoran]

He was extremely useful to me when I was building my business because we used to flip the reporters back and forth. He would say, what's going on the market? Says, if you don't believe me, call Barbara Corcoran. Reporters will call me. And I back him up because he told the truth in those days. But if I got the call, I said, you don't believe me? You know who a good guy to talk to would be a big developer? Donald Trump. I flipped the call to him. So he had a sabbatical going until he owed me $4 million. Was 4 million 2. $4 million. And then things changed. It turns into a litigation lawsuit, but thank God, the year he didn't want to pay me my $4 million, which I was entitled to, which was for me. I mean, we probably had a thousand salespeople, so you'd say it was a big company, but still, 4 million is 4 million. That was a big payday. Everything I'd worked for.

[Co-Interviewer]

And.

[Barbara Corcoran]

And when he didn't want to pay that $4 million, thank God I had a good year and had in my pocket $500,000 to pay an attorney. And I bought the biggest, meanest, smartest attorney in New York to fight that man, and I won the lawsuit. Now, if I had gone back a year and the same thing happened, I wouldn't have had the money. I would have just had to grovel like all the other creditors and just give up the ship. But I collected the money, and with it, I was able to expand the business again and again. But he didn't. He wasn't my friend after that. He's a little fair weather.

[Co-Interviewer]

I can sense the competitiveness in you even when you're telling the story.

[Barbara Corcoran]

No way.

[Co-Interviewer]

Yeah, no, we sense it. So even when you walked in and we were like, you know, we've had some other sharks not, you know, not as pretty.

[Barbara Corcoran]

You're not gonna mention those two?

[Co-Interviewer]

No, no, no, no. I was saying not as pretty and definitely not as well dressed.

[Barbara Corcoran]

There you go. You're catching on now.

[Co-Interviewer]

Well, I mean, I'M adjusting to this thing. How is that in the seats? Right? Because obviously we know it's a show, but there is real business that's happening.

[Podcast Host]

Talk about that compet.

[Co-Interviewer]

I want their deal or, damn, I missed this deal. Or I'm glad I took it from you.

[Barbara Corcoran]

Yeah, well, it gets in your way more than anything else. You know, somebody wants it. Usually if one person wants a deal, it's a good deal, and a lot of people are after it, right? So now you've got to compete. It turns into a game of salesmanship, because the money is one thing, but that's not really what makes the deals. The partnership makes the deals. Do they like you better than Damon? Do they like Damon better than Mark? Who do they relate more to? And that's what it comes down to. So I'm a great salesman. I've sold my whole life. I just push my wonderful virtues. I'm your perfect partner. Perfect. All my entrepreneurs are going to be your best friends. You're bored. We go on fun retreats. I sell them on everything, throw out the kitchen sink at them, and then I find that their eyes light at something, and I drill at home.

[Co-Interviewer]

You know, they want the retreat.

[Barbara Corcoran]

They do love the retreat. So some people I've closed on businesses simply because I wanted to be included in my pack of retreat people. I'm thinking, okay, that wouldn't be floating me by, but it's floating them.

[Interviewer]

So how do you reinvent yourself? Cause you're a great marketer, great storyteller, promoter, and you have different phases, right? And a lot of times people get stuck in one phase and they kind of become a. Has been. How have you been able to reinvent yourself and stay relevant throughout all of these different eras?

[Barbara Corcoran]

My secret, I don't know if it's the right one, is I try anything, I try anything. I don't think you wait until you see you're out of style or the methodology you use or how you're selling is not as good as it used to be. I think it's about collaborating with people that work with you, giving them the freedom to come up with stupid ideas and that everybody's excited and says, let's do this, let's do that. Four to five things I try. Since I went out of my real estate brokerage business, the Corcoran Group, 4 out of 5 things I failed miserably. But I bet you can't tell me one that I failed at, right? Nobody can. You just have to try all the time. That's how you discover New angles, new things, new ways of delivery, new kinds of people, new kinds of departments, new kinds of products. You just try everything. A lot of people are very conservative about wanting to have the right answer. Let's do this. This is a big one. That's what's wrong with corporate America. They have to get a committee to really all agree with everything. What's great about being a small entrepreneur is you're scrappy. You can try anything. You could think of something on a Monday and get it on the street by Thursday. You know, if you're with a big corporation, you gotta get this guy's approval. The attorneys have to review, the accountants have to review. And by the time you have it on Monday, it comes out maybe four months later. That's why I've always, my whole life been paying very careful attention to the little guy. I'm not afraid of the big guy. And I don't think big guys should be afraid of the other big guys. I think they have to look behind them and see who's coming up my ass, you know, who's going to take over my market. Because the little guy always is more creative and tries more stuff because they have less to lose. It makes sense, right? Just have less to lose. So I don't think there's a point where you reinvent your business or reinvent yourself. I think what you're always doing is shuffling your cards, trying to see a little of this, a little of that and get a better formula that might work a little bit better and then most things don't work. But as long as you get one in five, you've got an R D department and you're pushing ahead of your competition because you've at least tried five when they tried nothing.

[Podcast Host]

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[Sponsor Representative]

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[Barbara Corcoran]

This is an iHeart podcast. Guaranteed Human.