Barbara Corcoran Of ‘Shark Tank’ Touts The Benefits Of Daydreaming
Barbara Corcoran made a fortune with her real estate company before becoming a Shark Tank panelist. What she didn’t make, as a self-described “straight-D” student, was the honor roll. On Wednesday, during a Reddit AMA (“Ask Me Anything”), Corcoran emphasized that poor marks should not be an obstacle to entrepreneurial success.
“The great thing about being a stupid student is you have the whole damn day to day dream. And day dreaming, about who you want to be, is a heck of a lot more useful than a rock-solid business plan.”
Corcoran has long held that “street smarts” are invaluable to business success. During a recent interview with Bloomberg, she said an MBA is worthwhile for those employed by corporations and looking for promotions. She doesn’t feel it’s necessary, however, for those who want to start a business on their own.
During the AMA, Corcoran was blunt in her response to one question about what book to read before starting a business.
“You shouldn’t be reading any books before venturing out. Get out there now and then read them as you’re working. Still the best business book I’ve ever read is ‘How To Win Friends and Influence People.’ Nothing better.”
Back in February Corcoran told a conference that her business partner, Esther Kaplan, was the opposite of her own personality, making her a perfect fit as president of her firm. She told Entrepreneur her most successful Shark Tank investments are run by two people.
But she told Reddit users not to wait for a co-founder if they are ready to start their business. One user asked for advice on receiving an angel investment as someone with no desire to bring on a co-founder.
“Then don’t have a co-founder. Use your own energy, and the typical funding from family and friends. Or go to the SBA (small business association) for a loan. After you work your business for a few years, revisit the question then.”
She also dished on her fellow sharks.
“Kevin, in real life, is a sweetheart. When his wife walks onto the set he is visibly shaking in his knees. Really.”
“I’d like to have a beer with Daymond because he is the funniest man alive.”
Corcoran was not shy about revealing a desire for a romantic union with Mark Cuban and joking that Robert Herjavec, widely-rumored to be dating his Dancing With the Stars partner Kym Johnson, should “come out of the closet.”
Shark Tank returns with new episodes in the fall.
[Photo by Brian Ach / Getty Images]
