Barbara Corcoran of New York real estate fame and nationally known from the popular TV show “Shark Tank” did an interview with Henry Blodget, the CEO of Business Insider about what makes her business different. The first 45 seconds of the video I was a bit disappointed. She said that if she was pitching her business on Shark Tank for herself, she would stress the point that she didn’t do anything differently than anyone else. Instead, she knew how to read people, knew how to hire the right people, and was quick to fire the wrong people.
If I were one of the sharks, I don’t know that I would have bought this idea. What you are telling me is that your business model is identical to everyone else? You don’t do anything differently? So I’m not really investing in your idea or your business, I would be investing in YOU and the fact that you are a smart business person. From watching Shark Tank on a regular basis, I know that few sharks will invest when the person IS the business. There are simply too many variables and too high of a risk.
Perhaps Barbara’s brokerage would not have made it in Shark Tank, but her business philosophy and sheer intelligence has certainly made her a huge success. But why is she such a success? Is it because she works harder? Is it because she has a hypnotic personality that people can’t say no to? Did she have the best lead generation systems? The best real estate coaches? The best CRM? Absolutely not. When Henry asked Barbara to explain the difference between salespeople making $40,000 and $8 million, this is what she had to say:
“It didn’t come down to contacts, it didn’t come down to even how hard they worked. My worst workers very often worked the hardest. It came down to something to prove and getting back up.” — Barbara Corcoran
Watch the full interview, courtesy of Business Insider, below.
So what motivates you? Do you just have a job or do you have something to prove?