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Before Barbara Corcoran became theShark Tankpowerhouse, she had a major business blunder that almost broke her. Picture this: she spent a whopping $75,000 on her first big idea, and it was a total disaster. We’re talking a flop so bad that she actually ended up crying in her soup for a whole day.
But here’s the kicker: this painful lesson didn’t break her; it turned out to be the fire she needed to ignite her empire.
Barbara Corcoran’s $75k flop: How she turned a major fail into a game-changing win
Shark Tank’sBarbara Corcoranopened up about one of her biggest career missteps, admitting she once spent a hefty $75,000 on an idea that ended up being a “huge flop.” Her concept,Homes on Tape, involved putting real estate listings on video so people could browse from the comfort of their couches.
But agents were worried they’d lose clients to competitors, and the tapes never caught on. Corcoran remembers crying in her soup for an entire day, but she didn’t stay down for long. Instead, she turned things around by embracing the “new” thing: the internet.
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She registered her own URL, put those videos online, and within a week, sold two apartments to clients in London. Smart move, right? And to stay ahead, she even grabbed her competitors’ URLs. That pivot turned out to be one of the pivotal moments in her career.She revealed,
I blew my first big profit of $75k on an exciting new idea I called “Homes on Tape.” I put all our listings on video tape so that people could view them from the comfort of their own Lay-Z Boy chair. It was a huge flop! My agents were afraid they’d lose a client to another agent if they saw someone else they liked on tape. So no one wanted to hand out the tapes!
Corcoran continued,
I cried in my soup for a day then decided to pick up the pieces. I had heard about this new government thing called “the Internet” that my Navy Captain husband Bill was using to play war games in real time. I decided to register my URL and put the videos online, and we sold 2 apartments to new customers out of London within a week!
I also registered all of my competitors’ URLs so I would know when they caught on to this new Internet trend! It was one of the pivotal moments in my career that taught me how to bounce back from failure.
Today, Corcoran is proud of many things: her successful career, and her influence as a pioneer for women in business. But nothing beats the pride she feels for her family. As for business pet peeves, Corcoran’s not a fan of “fancy talk” and business jargon. She believes you don’t need to speak in buzzwords to make your business shine.
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A true icon in the world of entrepreneurship, Barbara Corcoran’s journey shows that even the biggest flops can lead to the best comebacks.
Barbara Corcoran: From rejection to triumph
Barbara Corcoran’sgreatest success came“on the heels of failure.” From struggling in school with undiagnosed dyslexia to facing rejection fromShark Tank, she learned to turn setbacks into stepping stones.
Despite feeling “like a loser” as a student, she developed empathy for others, especially her team, knowing how to spot when someone needs support. WhenShark Tankproducers initially passed on her, Corcoran didn’t sulk; she used the rejection to fuel her drive, writing a letter to insist on a second chance.
She recalled,“I’ll out-try anyone, and I’ll win.” That persistence paid off, making her a household name and an inspiration to millions.
“You’re out!”: Shark Tank’s Most Explosive Argument Was When a Contestant Got an Offer From Kevin O’Leary, Called the Sharks Worthless and Stormed Out
Shark Tankis available to watch on Hulu & Apple TV.
Heena Singh
Editor | Former Senior Writer
Articles Published :1457
Heena Singh is a Editor at FandomWire, spent the last two years making waves in entertainment journalism. With a knack for digging up blockbuster celebrity scoops and an uncanny nose for the latest buzz, Heena’s articles bring a fresh and fun perspective to life. When she’s not conquering writing challenges, you’ll find her curled up in bed, peacefully sleeping.
