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Barbara Corcoran: Turning $1,000 to $1Billion! | E204

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Barbara Corcoran: Turning $1,000 to $1Billion! | E204

Transcript

1937 segments

0:00

what I would love to do is call someone

0:02

to my office on Friday I love firing

0:04

people on Friday

0:06

now my next guest is one of the biggest

0:09

names in real estate a successful

0:11

entrepreneur and star of a hit TV show

0:13

now the female Titan is getting some

0:15

heat the minute or woman cries you're

0:17

giving away your power Harvard is

0:20

definitely Over the Top If I wasn't

0:22

dyslexic and I didn't have a hard time

0:24

in school I don't think I would have

0:25

been successful I think I had 22 jobs

0:27

before I started my own business every

0:30

person I meet is in real estate in New

0:31

York so how did you become the best I

0:33

was competing with the old boys network

0:35

and they were asleep at the wheel nobody

0:37

was thinking of new ideas in real estate

0:39

I would think of the greatest [ __ ]

0:41

to create publicity did I manipulate

0:44

them I played my cards everything I've

0:47

done in my life has been one long

0:48

attempt to show the world that I'm not

0:50

stupid Ramon Simone he was my boyfriend

0:54

at the time and he offered to loan me a

0:56

thousand dollars to start a business

0:57

with him he was my 51 business partner

1:00

she ran off with my secretary the

1:03

seventh year we were in business yeah he

1:05

said you'll never succeed without me you

1:07

know insults can really be a wonderful

1:09

motivator I knew I was going to succeed

1:12

I had to just because I had to show him

1:14

that he was wrong if you're driven by

1:17

these unhealthy insecurities you need to

1:19

go and see a shrink I'm afraid to see a

1:22

shrink why why well you'd ask good

1:25

questions damn you

1:27

I had an issue I felt

1:32

before this episode starts I have a

1:34

small favor to ask from you two months

1:37

ago 74 of people that watch this channel

1:39

didn't subscribe we're now down to 69 my

1:43

goal is 50 so if you've ever liked any

1:46

of the videos we've posted if you like

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this channel can you do me a quick favor

1:49

and hit the Subscribe button it helps

1:51

this channel more than you know and the

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bigger the channel gets as you've seen

1:54

the bigger the guests get thank you and

1:56

enjoy this episode

1:58

foreign

2:02

[Music]

2:06

we always start this conversation in the

2:08

same place on this podcast because it's

2:09

it seems to be inescapable that the

2:12

earliest context of Our Lives seems to

2:15

shape us in a way that then changes the

2:17

trajectory of who we are but also molds

2:18

our character and really like hones our

2:21

motivation so my question for you to

2:23

start is what is that context from your

2:25

earliest years that I need to understand

2:26

to understand you

2:28

first off I'd say competition I I was

2:32

one of 10 children we of course only had

2:34

two parents to share uh we're in very

2:37

tight quarters of two bedroom and just

2:39

to get the attention of a parent

2:41

was very hard to do

2:44

so I think everyone in my family

2:46

certainly myself grew up very

2:48

competitive competitive for attention uh

2:51

competitive to do something better than

2:54

the next kid

2:55

and what also came with it we grew up in

2:57

a team so we never knew what it was like

3:00

to be alone my idea of doing anything is

3:03

who's with me who's with me and I think

3:06

we all I shouldn't speak to everyone in

3:08

my family but I'll speak just for myself

3:10

now I think I'm phenomenal at building a

3:13

team but it's second nature to me it was

3:15

so easy for me to think of who would go

3:18

with who who wouldn't go with who who

3:20

would get along who had the right task I

3:23

could just size somebody up really fast

3:25

and make a great tight team and I don't

3:27

think that would have happened if I

3:29

didn't grow up in a very crowded

3:31

household looking for more attention and

3:33

competing

3:34

the ability to suss people out and

3:36

understand them you're saying that came

3:37

from having nine siblings

3:39

I certainly think it did yeah because

3:41

some you see all kinds of Dynamics when

3:43

you have a crowded household so you know

3:46

who the leaders are on what category you

3:49

know who's going to squeal to the

3:51

parents you know who's going to shut up

3:52

you know who can do your work for you

3:54

when you don't want to do it yourself

3:56

you know who you know who you could know

3:58

you get you develop all the talents to

4:01

get life in a form that you want it in

4:03

and you come out of the household at 18

4:06

years old with a lot of skills that

4:09

other kids really haven't had the

4:10

opportunity to do

4:11

what about the role of your also the

4:13

influence of your mother and father

4:15

oh and I was thank God I had a mother

4:18

and father who loved us

4:20

um I think that's the most important

4:22

gift in life it makes you somewhere deep

4:24

inside secure if you feel loved and I

4:26

had two parents who loved me you know

4:29

and

4:31

um my mother was a phenomenal role model

4:33

I never saw her sleep she worked 24 7.

4:36

she just never sat down I don't know

4:38

even when she slept I've never seen her

4:40

go to bed ever in my life and my father

4:42

worked two jobs his whole life to

4:44

support us so we were very much

4:46

influenced by each parent as needing to

4:50

work hard I mean we were all having jobs

4:52

when we were 11 years old I think I had

4:54

22 jobs before I started my own business

4:57

because we were out working to

4:59

contribute to the family and think about

5:01

the life skills you get outside a

5:03

household when you're working young I

5:04

don't think anybody ever has any job

5:06

where they didn't learn something about

5:09

themselves so even though when I went

5:11

out into the workforce when I started my

5:13

business at 23 I may have looked 23 but

5:16

inside I felt like I was 53 based on

5:19

experience and so there was nothing

5:21

naive about me at that point I had had

5:23

already an awful lot of experience

5:25

when I was reading through your story I

5:27

I read that your father struggled with

5:29

work and struggled with I think having a

5:31

boss he certainly did and he set up the

5:34

pattern that we all shared in my family

5:36

nine out of the ten kids have their own

5:38

business my father was a printing press

5:40

foreman and a very good worker but he

5:44

didn't like someone telling him what to

5:45

do so he would regularly come home sit

5:47

at the dinner table and tell us he was

5:49

fired from his job it was a regular

5:51

event we all asked her and tell us a

5:54

story and it was the same story he would

5:56

basically

5:57

he said I I told Mrs Stein where to

6:00

shove the job where the sun don't shine

6:02

that was my and we'd all clap for him

6:04

and say Dad our hero and my mother of

6:07

course would not even know how we were

6:09

going to be fit until he found a new job

6:11

but he was a hero and so when we grew up

6:15

even though he never worked for himself

6:17

the fact of the matter is is we knew we

6:20

wanted to work for ourselves we didn't

6:21

want to work for a boss and honestly I

6:24

never had a boss I liked even though I

6:26

had so many and I'm sure they're

6:28

perfectly fine people but I didn't like

6:30

the fact that I wasn't the boss it was

6:31

clear to me he um your father drunk

6:34

drank sometimes yes he did drink

6:35

sometimes and uh

6:38

I'll tell you how that played a role in

6:41

our family he was a social drinker so he

6:44

was probably the best father in the

6:46

world played with us was our Playmate

6:48

our we adored him everything he did but

6:51

then when we went out to a party which

6:53

wasn't that often a family party he

6:55

would drink too much and he would come

6:57

back and he was a different person he

6:59

was a gorilla and we all feared him what

7:03

that does uh is it makes you very fond

7:06

of control when you with a parent who

7:08

drinks I think as a child you never

7:10

really feel like you're in control of

7:13

things because you don't know when the

7:15

lion might come out and so it made us

7:18

insecure and very fond of control and

7:22

I'm a control freak I like to control

7:24

everything I do and I credit my dad with

7:27

that I don't want any curveballs or

7:28

surprises the way that he spoke to a

7:31

mother sometimes it seems from Reading

7:32

throughout your story and the person you

7:34

went on to be seemed to be pretty

7:36

consequential to how you did respond to

7:40

men who would

7:42

talk down to you in your career God you

7:44

do your research good for you really

7:47

that's a Nuance but

7:50

um

7:51

I'm not my best if a man talks down to

7:53

me

7:54

I'll credit my father with that because

7:56

I adored my mother so much there was

7:58

nothing to talk down to my mother about

8:00

but when he was drinking he would talk

8:03

down to my mother

8:04

and I hated him for it

8:06

and it scars you so deeply

8:09

that I'll never get rid of that so if a

8:11

man actually dismisses me or talks down

8:14

for me particularly in business

8:16

I'm at my best it's like Oh no you're

8:19

not going there I get like this iron Rod

8:22

through my soul

8:23

showing someone uh that they're wrong is

8:26

probably not the best motivation I gotta

8:28

believe probably not a healthy way to be

8:30

and you probably need a shrink on that

8:32

one but it certainly works well in

8:34

business I think it pushes you it makes

8:37

sure that you make sure that things work

8:38

out

8:40

I really resonate with that because as

8:42

I've talked about probably too much on

8:43

this podcast my my mother and father had

8:46

a very

8:47

um

8:47

loud way to communicate to say the least

8:50

what a lovely way of putting it I've

8:52

become more and more like diplomatic

8:54

with Harry frame that but yeah a loud

8:55

way of communicating and I I learned

8:57

that

8:58

as I stood there as a little kid and

9:01

watched my mother shouting at my dad

9:03

when I got older my response to being

9:06

shouted at was the response I always

9:08

wish I'd seen in my dad oh which was

9:11

like run and don't take it ah so when

9:14

you were saying that I was wondering if

9:16

you could relate in the sense of when a

9:18

man puts you down because you saw your

9:20

mother be put down in such a way your

9:22

response is to

9:24

yeah

9:26

every time brace up yeah and most

9:29

importantly uh prove his assessment of

9:32

me wrong

9:33

did your mother how did she respond

9:36

uh I have to actually think I think my

9:38

mother was so busy

9:41

making sure my father

9:44

was safe to his children

9:47

that I think she was just making sure we

9:50

were safe all the time in those

9:52

instances you know and it's kind of

9:54

crazy you know you figure it out I mean

9:57

the next morning my dad would wake up

9:58

and he was the most popular guy in the

10:00

neighborhood taking every kid in the

10:02

neighborhood out Baseball playing

10:03

teaching them how to play tennis he did

10:05

he was everybody's favorite father and

10:07

only the night before my mother was

10:08

hiding us you know so it was kind of a

10:11

odd Dynamic she was hiding you well

10:13

hiding us because she didn't want my

10:15

father to have his Wrath

10:18

on any of his children you know

10:21

so she was protecting us so kind of

10:24

separating us out yeah

10:26

wrath it's a strong word

10:28

wrath is a strong word uh I mean wrath

10:32

is it could be you know just angry words

10:35

can be so damaging uh

10:39

you know nah whatever it's weird you're

10:42

making me feel sad I guess you're

10:44

supposed to right

10:46

but it's so sad you know it's so sad uh

10:49

addiction

10:51

because it brings out the very worst in

10:53

an individual

10:54

and the traits my dad had a wonderful

10:58

father growing up just wonderful we

11:00

couldn't hope for a better father

11:02

um that he was so good that he forgave

11:05

him for the bad you really did as a kid

11:07

because it's oh good dad's back oh good

11:10

dad's back but again I said too early I

11:13

think it leaves the scars of insecurity

11:16

with children because you don't know if

11:18

you get the lady of the lion when the

11:19

door when the door opens like who are we

11:21

going to get now you know so it keeps

11:24

you on edge

11:25

when we think about addiction we we see

11:27

it as like a manifestation of pain yes

11:30

or like it is of sorts was that is that

11:33

relevant to what you observed in your

11:35

father no I think with my father it was

11:37

honestly uh entirely due uh to too much

11:42

pressure on one man

11:44

think about it he worked two jobs he

11:46

washed trucks every night through the

11:47

night because he could wash them fast

11:49

and sleep a little then he'd go to his

11:51

day job at the morning he had three

11:54

children by the time he was 23 he had

11:56

seven children by the time he was 30.

11:59

and he was a Workman and he was

12:02

supporting us uh trying to make us happy

12:04

trying to share his time with us as best

12:06

he could which he really did a great job

12:08

on

12:09

um I think it was just too much pressure

12:12

for a young man uh of what he signed up

12:15

for I think it was hard I mean it wasn't

12:18

ever assured with us as children that we

12:20

would necessarily get groceries

12:22

you know so and he felt ashamed of that

12:26

like he should be the provider but it

12:29

didn't stop him from quitting the job

12:31

the next week

12:32

when the boss told him what to do so

12:35

it's really a shame my dad didn't have

12:36

his own business I think he would have

12:38

been phenomenal in his own business all

12:40

of his kids did except for one and

12:42

they're all hugely successful so I feel

12:44

like he just didn't have the

12:46

affordability of starting his own

12:48

business you know what role did the lack

12:51

of money in your household have on

12:53

shaping your view on money

12:56

interesting enough very little really

12:59

what was great about my mother is she

13:01

never worried about money now here's a

13:03

woman who should have worried about

13:04

money and my dad should have worried

13:06

about money but I remember when I had

13:09

many junctures along the way where I

13:10

thought I'd be going out of business at

13:12

the 11th hour I tried everything didn't

13:14

think I'd ever anymore angles to work

13:16

where I could stay in business another

13:17

month and I remember in one of those

13:20

dark times my mother called him she said

13:22

you sound distracted I said well

13:24

honestly mom I think I'm going out of

13:26

business and on Monday sales meeting I'm

13:28

actually writing a speech to say goodbye

13:30

and how thankful I am and she said don't

13:32

worry about money it's an awful waste of

13:34

time and you know I stopped worrying

13:36

about money when she said it I thought

13:39

of a new idea and it kept us in business

13:40

another two months my mother's attitude

13:43

toward money was it was meant to be

13:45

spent

13:46

uh you know as a kid I guess I would

13:49

have liked to have a new coat versus get

13:51

my hand-me-downs you know that's always

13:53

better for a girl to feel like she looks

13:55

pretty okay uh but you know we were we

13:58

were pretty much a happy bunch and so

14:02

money didn't weigh in so far as you're

14:04

happy and also my parents never measured

14:07

anyone by money they never had a comment

14:10

about who's rich who's not rich who has

14:12

what it was just not even on their radar

14:15

so it was really about my mother's

14:17

Mantra supported by my father when he

14:21

was fine was kindness how kind can you

14:24

be to the neighbor what could you do for

14:26

the lady down the street and we all were

14:29

raised on that and as a result of it we

14:31

felt the satisfaction from helping out

14:34

even though we didn't have more money to

14:35

help out just doing nice things for

14:37

people and so money was not really on

14:40

the radar honest to God yeah what about

14:43

school how is oh School sucked

14:46

school is tough on kids that can't learn

14:49

I was one of those kids you know myself

14:51

and my two brothers the other kids were

14:52

eight students but we just couldn't read

14:54

we couldn't write we couldn't learn and

14:57

what happens to a kid when you're in a

14:59

in a school situation is you judge

15:01

yourself based on school grades what

15:04

else do you have you someone could say

15:06

she's such a nice girl well that might

15:08

sound good but if you're getting all F's

15:10

you feel terrible you just feel terrible

15:12

and so

15:14

um your sense of self I think is formed

15:17

very much by how good a student you are

15:19

in all school systems and it shouldn't

15:22

be because it's just one kind of

15:23

intelligence of course but it is that

15:25

way when you're a student you sum

15:27

yourself up based on whether you could

15:29

get good grades or not that's as simple

15:31

as that

15:32

were you bullied in school no not at all

15:35

I was too quiet to be bullied you know I

15:37

was quiet and lovely and that's what the

15:40

Sisters of Charity always told my

15:41

parents she's not very smart but she's

15:44

quiet and she's lovely quiet and lovely

15:47

I heard her my whole life and I was I

15:50

never said a word because I didn't have

15:51

the confidence to say a word I wasn't

15:53

going to speak up and be found out and

15:55

uh those aren't the kids that were

15:57

bullied the reason I asked about the the

15:59

question about being bullied is because

16:01

I I know that you're dyslexic and often

16:06

especially in in that day and age we

16:08

didn't understand dyslexia so we just

16:09

thought those kids were

16:11

yeah did you ever feel

16:15

that kind of criticism from your peers

16:17

or your teachers

16:19

from the teachers yes I had one teacher

16:21

in third grade that really gave me a

16:23

label that stuck with me till I got out

16:25

of high school

16:26

she said to me if you don't learn to

16:28

read you'll always be stupid and she

16:30

said the word stupid with such disdain

16:33

that was the first time I really heard

16:35

that word before that no one told me I

16:36

was stupid

16:39

it's wrong with me I'm stupid

16:41

and that's when I got quiet that's when

16:43

I just shut up and never talked again in

16:45

school because I didn't want to be

16:47

called on to

16:48

read out loud I mean for me my idea of

16:52

Hell on Earth was being told to read out

16:54

loud which was typically how you learn

16:56

to read those days you go up and down

16:57

the aisles your turn to read I mean

17:00

nothing was worse than me going the the

17:02

the the them and all the kids laughing

17:06

and snickering uh so I wouldn't call

17:09

that bully I mean they I was a show I

17:11

was a show so I guess I would have

17:13

laughed if I was them too but it's so

17:16

painful when that happens because it

17:18

takes your confidence and demolishes it

17:21

but thank God thank God we all worked

17:24

thank God I work by 11. because every

17:26

job I had I did a great job I used my

17:28

mouth I didn't have to write I didn't

17:30

have to read I could do any job and

17:33

people always tell my mother what a

17:34

great worker I was so I was proud

17:36

so uh

17:38

you know what I think in hindsight if I

17:41

wasn't dyslexic and I didn't have a hard

17:43

time in school I don't think I would

17:44

have been successful believe it or not

17:46

because I think everything I've done in

17:49

my life has been one long attempt to

17:51

show the world that I'm not stupid so

17:53

I'm driven because I'm always there's a

17:57

piece of me that always thinks I might

17:58

not be smart I mean I know it's bizarre

18:01

because I'm smart but in an insecure

18:03

situation I doubt myself sometimes but

18:07

I've learned to replace the tape I don't

18:09

have sister Stella Maria in my head

18:11

anymore telling me I'm stupid I have a

18:13

tape of my own telling me I'm incredible

18:15

I'm beautiful boy you could do this this

18:19

is nothing you know I've got that tape

18:21

that I had to replace over the years but

18:23

let me tell you it took me a lot of

18:25

years a lot of years to now I can't say

18:28

I totally replace it but mostly put a

18:30

nail through its head but it takes a lot

18:33

to get over the Damage Done if your

18:36

self-perception is a negative worn from

18:38

the get-go because we all don't leave

18:41

our childhoods behind so readily they

18:43

stay with us I think

18:45

and you you credit it there for your

18:47

drive

18:48

absolutely but also you said

18:51

earlier if you're driven by these kind

18:54

of unhealthy insecurities you need to at

18:57

some point go and see a shrink I'm

19:00

afraid to see issuing why I'm afraid

19:02

they'll straighten me out and would I be

19:04

successful then

19:05

I stay a mile away I know it's crazy

19:08

I've read a few books and self-analyze

19:10

but no no no first of all they're very

19:12

expensive in New York and then that way

19:14

I'm too cheap to pay

19:16

my shrink is working out if I work out

19:19

or if I weed my garden I'm straightened

19:22

out for the moment okay but

19:25

that's the way it is I ask for selfish

19:28

reasons I found myself at one point for

19:30

the same sort of insecurities and

19:31

feeling like I wasn't enough being very

19:34

driven to like prove the world that I

19:35

was and at some point that comes at the

19:37

cost of like this other set of things

19:39

which are important for happiness

19:41

relationships and balance and whatever

19:43

else so when you said about someone you

19:45

need to go see a shrink I get it because

19:47

at some point you can be a bit too

19:50

dragged by your

19:53

pursuit to prove the world that you are

19:55

enough that you of course it's too much

19:57

compromise a bunch of other things of

19:59

course you do I mean if you're strong

20:00

one Arena something's got to give what

20:03

had to give for you

20:06

relaxing I don't think I've ever relaxed

20:08

in my life uh but honestly when I'm

20:11

relaxed uh reading a book it's fine for

20:14

a half hour

20:15

and then I gotta get up and accomplish

20:17

something I'm very driven to accomplish

20:20

to see the difference I've made in the

20:22

world to an individual I just spoke to

20:24

to a business I've been involved in uh

20:27

to a neighbor I've befriended I've got a

20:30

I've got us why because I want to know

20:32

for sure without a doubt that I haven't

20:34

wasted a minute and that my existence

20:37

makes a difference why

20:40

because I I think it's important why

20:43

well you ask good questions damn you why

20:47

uh why is that because I don't want it

20:51

to be a wasted life you know I'm just

20:54

one of those that you one shot at it and

20:56

I want to see how much of an influence

20:59

and how much of a difference I can make

21:01

I really do I mean so I guess relaxing

21:05

feels like wasting time it doesn't mean

21:07

that I can't have fun with friends I

21:08

have the most

21:09

a great circle of close friends that I

21:13

have so much fun with that's a priority

21:15

in my life and it was a priority in my

21:16

business fun it's number one in in

21:19

developing teams I believe but

21:21

um in addition to that I just uh I just

21:24

have to be productive I do need a shrink

21:27

don't I do you have one in the house

21:29

they give me a courtesy hour

21:33

okay I'm trying to get a discount

21:36

um off you went into the world of work

21:37

as you said you had some by the way you

21:39

would make a good shrink can we just

21:41

switch gears

21:42

you don't realize what's happening here

21:44

I'm actually using you as my shrink

21:45

that's really I don't think so now I ask

21:49

questions that I genuinely care about so

21:50

and typically that means because I'm

21:52

struggling with something so so that's

21:54

why I was pursuing that Avenue so

21:55

diligently

21:57

um you had some 22 or 23 jobs before you

21:59

started your own business yes I did jobs

22:02

from everything from being a

22:03

receptionist to a waitress to everything

22:06

in between

22:07

we often look back at those jobs that

22:10

didn't pay us a lot and that the world

22:11

doesn't hold in high regard as some

22:14

people might think that they are a waste

22:16

of time or they were like necessary

22:18

what's your view on the when you're a

22:20

receptionist and a waitress how what

22:22

role did that play in your overall

22:23

success I think whether you have a

22:26

menial job or an important job it's what

22:29

you're learning I mean there wasn't a

22:31

job where I didn't learn a lot for me I

22:33

would take any job not based on pay but

22:36

gee what could I learn what could I

22:37

learn because that made you more

22:39

valuable I never really thought it made

22:41

you more valuable to be paid more but

22:43

hey I haven't done this before let's see

22:45

what this is about and you learn skills

22:48

I think I learned more through my

22:51

waitressing jobs I always had a few at

22:53

once you know you could always get a

22:54

waitress job behind a counter I think I

22:56

learned more about people waitressing

22:59

than building my business honest God you

23:01

have to size someone up your territory

23:04

is your counter you have to make them

23:05

happy you want to upsell them a little

23:07

bit maybe you say you know you give the

23:09

second cup of coffee for free but how

23:11

about A Slice of Cheesecake is really

23:13

good today you've learned how to hustle

23:15

you learn how to be organized how to get

23:17

the containers in order how to make sure

23:19

they're filled when the customer steps

23:21

out how to get that person something to

23:23

drink while you're working on this

23:25

person I mean I learned so much in every

23:28

one of those jobs and you know what's

23:29

great about having a lot of jobs you

23:32

start to get a profile of what you're

23:34

good at and what you're not and I in

23:36

short order after maybe seven or eight

23:38

jobs not that I knew what I was going to

23:40

do for a living but I knew what I was

23:41

good at I knew I was good at getting

23:44

along with people and making them smile

23:46

I could talk to somebody and make them

23:48

happy absolutely and I also knew that I

23:51

was efficient I could create a system in

23:53

anything I would see at the diner

23:55

counter all wrong not running right I

23:57

would talk to the boss say you know if

23:59

you did this with the maple syrup and

24:00

changed sugar and I could like an

24:02

executive I could rearrange the whole

24:05

counters you know in an efficient manner

24:07

and I started learning that those were

24:09

my two gifts people and efficiency and

24:12

if you think about any business those

24:14

are really big ticket items if you could

24:17

choose people motivate people get along

24:20

with people make them get along with

24:22

each other plus create systems to grow a

24:25

big business I mean the minute you have

24:27

more than a half dozen people you need

24:29

systems and my companies are always so

24:32

well organized that it they ran like

24:35

they just ran like a Swiss clock is that

24:38

a good analogy everything was in its

24:40

place nothing had to be duplicated it

24:43

was fast forward and so I was able to

24:45

build very quickly which I had to do

24:47

because we had big people in my market

24:48

and if I had built and replicated

24:52

systems at a normal Pace I would never

24:54

catch up to them so I had to do double

24:56

triple time and what's your answer on

24:58

that one systems systems get you moving

25:02

forward get you get get a business like

25:04

a machine you know and that was a gift I

25:06

got from my menial jobs thank God I

25:09

worked imagine if I hadn't worked and

25:11

went out into the real world thinking I

25:13

was dumb that I couldn't do anything

25:15

just because I couldn't read or write

25:17

thank God I learned could be a lifeguard

25:20

I learned I could be a tent salesman I

25:23

could be Barbara buttons calling for

25:24

solicitations eight hours a day I could

25:27

be all those menial jobs hot dog

25:29

salesman sell more hot dogs in the next

25:31

guy I mean I had Confidence from every

25:34

one of those jobs like look how cool I

25:36

am maybe I wouldn't win Respect by

25:38

everybody well who cares about the hot

25:40

dogs but in my book I knew I sold more

25:43

hot dogs than he sold on his you know so

25:46

so no thank God for the jobs you learned

25:49

so much by trying different jobs on you

25:51

know it's so important at that age if

25:53

I'd asked you what you wanted what your

25:55

dream was what would you have answered I

25:57

wouldn't have answered the question I

25:58

wouldn't have answered the question I

26:00

had no idea I would say I just want to

26:02

work I just want to quote work it didn't

26:05

make a difference what I was working at

26:06

I just knew that when I was working I

26:09

felt capable that's all and conversely

26:11

then what are you bad at I think as

26:14

you've said it's very important to know

26:15

strengths but also weaknesses you know

26:18

what I'm bad at a bad at math numbers

26:21

terrible

26:23

just terrible really I don't even

26:24

understand I took algebra four times

26:27

four times two years in summer school

26:29

never passed it they finally just gave

26:31

me the grade to go through

26:33

um I'm very bad at math I'm bad at legal

26:35

I'm bad at committee meetings

26:38

I'm bad at listening to a blow heart who

26:41

just goes on and on doesn't cut to the

26:42

chase I'm very bad at impatience I want

26:45

to know what you want from me and then

26:47

you tell me how you got there I don't

26:48

want to hear how you got there and then

26:50

what do you want I always want to cut to

26:52

the chase so I'm impatient I've learned

26:55

to hide it because you can't be so

26:57

visibly impatient with people but as

27:00

long as they tell me what they want on

27:01

the front end I could hang in there for

27:03

the long explanation after because I've

27:05

already concluded what I'm going to do

27:06

you know yeah so that's what I'm bad at

27:09

but lucky for me I've always surrounded

27:12

myself with people who are opposite to

27:13

me you know and by the way I shouldn't

27:15

really say I'm bad at numbers because I

27:18

had a business partner in my 10 business

27:20

partner Esther my whole life I made her

27:22

my partner she was great at legal and

27:25

finance and she has to spent hours when

27:27

we wanted to open one or two new offices

27:29

doing the numbers to see if we could

27:31

afford it and I used to come into our

27:33

office and say what do you think she

27:35

says I don't think we should really do

27:37

it I said well let me tell you why we're

27:38

going to do it because you really need

27:39

to beat the next guy and let me tell you

27:42

if we have eighty thousand dollars and

27:44

the desk produces only 40 42 it's going

27:46

to take us about nine months to actually

27:48

meet our overhead and we'll have to cut

27:50

back on the advertising we'll have the

27:52

managers work for free

27:54

and she'd say what and it worked every

27:57

time so I must have had a

27:59

taste for numbers in that kind of a way

28:01

I could always see the picture on

28:03

numbers and I'd be right it was bugged

28:06

the crap out of her because she had all

28:07

the numbers you know but

28:09

um yeah but I'm not good at adding up

28:13

the numbers at all a lot of people think

28:15

I think it's really liberating to hear

28:16

that they probably exclude themselves

28:18

mentally of being a business person

28:20

because they are bad at numbers oh gosh

28:22

I think numbers are the least important

28:25

thing in business by far I look at all

28:28

the entrepreneurs I've invested in Shark

28:30

Tank I am telling you

28:34

the most successful I hope I'm not

28:36

giving anybody the short haul here but

28:38

the most successful are not good at

28:41

numbers they're exceptional at people I

28:44

think if you're great at people and you

28:46

have ambition you have the two magic

28:48

cards

28:49

To Succeed in Business you do that's

28:51

what it's about people and ambition the

28:54

drive to get to the Finish Line yeah

28:57

then you find a way you hire the people

28:59

you need you borrow the people you need

29:01

you exchange your gift for their gift

29:04

part-time if you have to get what you

29:06

need but you always get what you need if

29:08

you know what you need

29:09

talking about boring you borrowed a

29:12

thousand dollars off Ray yeah Ramon

29:14

Simone yep Ramon Simone nice name huh

29:17

Ramon Simone wow okay and he was your

29:19

boyfriend at the time he was my

29:21

boyfriend I met him at the diner that

29:23

was my last Diner job and he offered to

29:25

loan me a thousand dollars to start a

29:27

business within three months did you ask

29:29

him for the money no he said you've got

29:32

a great personality you'd be great in

29:34

real estate sales why don't you start a

29:36

business and that's how it happened

29:37

really yeah so he had a gift for seeing

29:41

Talent obviously

29:42

you know

29:43

and then off you go 24 years old you

29:46

started you're right 23 but 23. let me

29:48

tell you something thank God at 23 you

29:51

don't know what to be afraid of

29:52

you don't know what falling off a

29:54

Cliff's about and at 23 and poor

29:57

you have nothing to lose there was no

29:59

risk involved I could always get my

30:01

Diner job back or any waitress job or a

30:03

pool hander I had millions of jobs I

30:05

could get I wasn't afraid of being

30:07

unemployed so I figured what the heck

30:08

I'll try it let's see where it goes

30:10

however what I didn't know and when the

30:14

light went on in my head was I didn't

30:16

know how much I would like being a boss

30:19

first day I'm like I love this did I

30:22

like real estate I didn't really care

30:24

about real estate did I like the people

30:26

I was meeting they're all nice but I had

30:28

been meeting nice people my whole life

30:30

but I love the fact that I was in charge

30:34

and so I loved real estate I love the

30:37

people I love the paint on the wall I

30:38

loved everything because I was a boss I

30:41

was bent meant for being a boss I felt

30:43

so freed

30:45

so free to dream and do whatever I

30:47

wanted and nobody could tell me what to

30:50

do it was just it was the greatest gift

30:53

of all freedom

30:55

freedom

30:57

I'm getting juicy just talking about it

31:00

[Laughter]

31:02

that real estate company became very big

31:06

am I right in thinking it became the

31:08

biggest

31:09

um residential firm in New York yes

31:11

before I sold it we were number one the

31:14

biggest residential real estate firm in

31:16

New York

31:18

why

31:20

because there's so many residential

31:22

firms in New York there's so many like

31:23

real estate people they're everywhere I

31:25

mean every person I meet is in real

31:26

estate in New York so how do you become

31:28

the best

31:29

honestly I think uh there's a lot of

31:31

reasons how you succeed right but I

31:33

think the major cards were

31:36

I was competing with the old boys

31:37

network and they were asleep at the

31:39

wheel

31:40

it's not that they didn't do good work

31:42

but you have to realize real estate

31:43

Brokerage in New York when I was started

31:46

and I guess it's somewhat the same was

31:50

controlled by Rich guys who inherited

31:52

the business from their father or their

31:54

grandfather before them so they were

31:56

very important very self-important very

31:59

well educated very good at what they did

32:02

but they did the same old thing they did

32:05

it the same old way and they also hired

32:08

people like themselves they were white

32:11

privileged and they hired white

32:13

privileged women to work for them that

32:15

was a whole cast of characters when I

32:18

came in I couldn't get those white

32:19

privileged women to work for me because

32:21

I was a kid I didn't know anything and

32:23

it was it would no status associated

32:26

with it we were a new kid in town we had

32:27

three people who was going to work for

32:29

me I had a big barn steel to get anybody

32:31

to work for me and so they were cocky

32:35

and the minute I smelled that they were

32:37

cocky which happened to me about the

32:39

third year in business when I went to a

32:41

large real estate Board of New York

32:42

meaning I I was I remember I went home

32:45

and I said I'm going to beat these guys

32:47

and I knew it because they were very

32:50

cocky that they were in charge and what

32:53

weakness did that create a tremendous

32:55

weakness they're blind it's like

32:57

competing with blind people they were

33:00

also Rich enough not to want to lose

33:02

money when the market went South which

33:05

happens again and again in real estate

33:06

it's up down Market they would not spend

33:09

money they would hold their money in and

33:11

protect it they would not take a chance

33:13

because of the reputation they would

33:15

check check what they were going to do

33:16

against the committee I didn't have

33:18

committees they would check what they

33:19

were going to do against their attorneys

33:21

they had attorneys they were all stop

33:23

signs I would think of an idea on a

33:25

Tuesday and have it in the street by

33:26

Wednesday they would think of an idea on

33:28

Tuesday if they even thought of it or if

33:30

they listened to a good employee who had

33:32

a good idea which tended not to do it

33:34

was always their ideas but if they list

33:35

listen to that employee they'd have to

33:37

check it with the committee work it up

33:39

the line talk to their dad talk to the

33:41

attorneys I'm like thank God they're in

33:44

quicksand so I think a big reason why I

33:47

was able to succeed is because I

33:49

competed against the norm of an old boy

33:51

network if I had to compete with other

33:53

people like me wanting to prove

33:55

something desperate to make a a go of it

33:58

I would have had that hunger to compete

34:00

with these guys weren't Hungary they

34:02

were well-fed and well vacationed and

34:04

they liked it that way

34:06

one of the things I took from that is um

34:08

whenever you're competing against like a

34:10

big complacent

34:12

slow incumbent being the opposite of the

34:16

incumbent is the winning strategy you

34:18

were quick because you didn't have that

34:19

bureaucracy old sign off for lawyers you

34:21

were like high risk you are agile

34:24

and you were naive

34:26

you know what else I had which isn't to

34:28

be underestimating I had a wonderful

34:30

imagination I would think of the

34:32

greatest [ __ ] to create publicity

34:35

every day of the week I just would dream

34:38

up some stupid stuff

34:40

and give it to the papers or the or the

34:42

TV stations I would churn out reports

34:46

that I had no business turning out but I

34:48

could think of an idea a minute and I

34:50

would just throw it out there and see

34:52

what happened uh nobody was thinking of

34:54

new ideas in real estate it was about

34:56

controlling the listing market and

34:58

controlling the number of bodies working

35:00

for you that was the only game in town

35:02

not how you did it or what differently

35:05

you could do nobody even really was

35:07

concerned about the customer or the

35:10

sellers they just want to know if they

35:12

had a contact with them because it was a

35:14

contact game but I came into a different

35:16

generation where contacts meant Less in

35:19

New York as the Waters of New York

35:21

changed and everybody started coming to

35:23

New York at different nationalities and

35:25

different colored colors of people

35:26

everything was changing and these guys

35:29

really thought it was not changed you

35:32

know so it was such an advantage to have

35:35

a lot of ideas and to have to have

35:39

tattered soldiers anybody to get your

35:41

hands on and to make them believe they

35:43

were as good as the fancy people and my

35:45

people believe they were as good and you

35:47

know what they were as good and they

35:49

were better in the end because they all

35:51

hustled and they all had something to

35:53

prove you know we were all the poor kids

35:55

trying to make it make it in New York

35:58

you know so we were all driven you know

36:01

we're soulmates in a way

36:04

fat company culture and that like

36:06

philosophy you're citing that as being

36:08

really pivotal to to why you were

36:10

successful what what does that mean like

36:11

culture and how do you go about creating

36:13

that culture yeah the main the main

36:15

character is having fun with your people

36:17

all right I put fun before anything I

36:20

mean I certainly wanted to drive sales

36:22

hard open new offices hire new people

36:24

nurture great management system all the

36:27

things that go into any business but

36:29

more than that I wanted to make sure

36:31

everybody loved each other and the way

36:33

you get to break down barriers between

36:34

people who all compete with each other

36:36

remember in sales you like who you're

36:38

working with but you don't really

36:40

totally like them because they're after

36:42

your market so you have friend enemies

36:44

really in a way and so I believe that

36:48

you uh if you had enough fun with your

36:50

people it was a great equalizer when

36:52

people laugh together they come up with

36:54

new ideas when people laugh together

36:56

they loosen up I used to have people uh

36:59

dressed for my party so they couldn't

37:00

come in I would have them addressed

37:02

1940s 1950s I had them cross-dress oh

37:05

what a rebellion at the Kingdom the

37:07

straight guys I'm not cross-dressing for

37:09

her of course they cross-dressed for me

37:10

I had a party where everybody dressed as

37:13

a nun I'm not going as enough of course

37:15

they came as do you know how exciting it

37:17

is to be in the Waldorf Astoria ballroom

37:19

and see a thousand nuns at a party it's

37:22

a blast and so much fun so we would have

37:25

picnics parties I would take the women

37:27

spontaneously hey come with me we're

37:30

going downstairs to Barney and buying a

37:32

new underwear why because it's so

37:34

bizarre and they all go down and pick

37:36

out the most expensive underwear they

37:37

could find I mean this bizarre stuff

37:39

made them tell everybody who wasn't in

37:43

the coming oh God guess what we did it

37:45

was an adventure and sooner or later

37:47

what happened after about I guess maybe

37:50

10 12 years I didn't have to recruit

37:52

anymore our reputation as being the best

37:55

place to work started recruiting for us

37:57

my sales people recruited for us just by

37:59

repeating stories that happened every

38:01

day and so I do believe you create a

38:04

great imaginative culture if you could

38:07

insist on giving as much attention to

38:10

planning good fun I don't mean boring

38:12

Christmas party we drink nothing like

38:14

that some bizarre means of having fun

38:16

everybody he doesn't have enough fun and

38:19

they want to stay with you I had no

38:21

turnover in my company none in a

38:23

business that's loaded with turnover of

38:25

course I fired a third of my staff

38:28

every year because they couldn't sell

38:29

but other than the ones I couldn't sell

38:32

no one ever left for another firm they

38:34

had too much fun at us why would they

38:36

leave for the same commission spread I

38:39

don't think so

38:41

five years in to that business to that

38:44

Venture Ramon Simone runs off with your

38:46

PA yes she's much prettier than I 10

38:49

years younger I don't blame him in

38:51

hindsight I don't blame him at the time

38:53

I didn't like it

38:56

he was your boyfriend at the time he was

38:58

my boyfriend at the time he was my 51

39:01

business partner because he took 51 he

39:04

said because he was financing The Firm

39:05

which was fair I was a managing partner

39:08

I like the way that sounded uh yes but

39:11

uh he ran off with my business with my

39:14

secretary uh the seventh year we were in

39:16

business yeah

39:18

that was shocking I didn't expect that

39:19

but you know those blows that happened

39:22

to you egos seem the worst at the time

39:25

but it doesn't take you long to realize

39:27

what why they happen and why they're the

39:29

best things I mean if he didn't run off

39:31

with her I would have never started the

39:33

Corker group I would still be Corcoran

39:35

someone working with him I mean that got

39:37

me off my butt to start my own company

39:40

without his help right away because I

39:43

was a scorned woman and I couldn't stand

39:45

seeing them throw kisses at each other

39:48

during the work day it drove me crazy

39:50

and so I left I just left we cut the

39:53

company in half at the time we only had

39:56

14 people he took seven I took seven and

39:58

off I went thank God that happened

40:02

and then he gave me those wonderful

40:03

parting words he'll never succeed

40:05

without me thank you Ray

40:08

did that drive you those words for I was

40:10

the physicist when he said that I was

40:12

like vicious I hated him for it but I

40:16

walked out the door hating him for it I

40:19

hated him for it the next month the year

40:21

after that and then Europe did that and

40:23

then I started thinking a word really

40:26

yeah

40:27

I realized it was a gift you know insult

40:30

uh can really be a wonderful motivator

40:33

with my entrepreneurs that are investing

40:36

on Shark Tank I love it when I can find

40:38

in an entrepreneur that had a horrible

40:42

dad had this go wrong that go wrong uh

40:45

because they're angry they're angry and

40:47

they have more to prove I love an

40:49

entrepreneur like that I relate to them

40:52

that prejudice you you experienced in in

40:54

that male dominated industry is it

40:57

easier to manipulate people when they

40:58

have a prejudice against you

41:00

first of all you have to realize they

41:02

didn't see me I was invisible to them

41:04

they didn't take me seriously why would

41:06

they take me seriously even the day I

41:08

realized I was invisible I realized I

41:11

had to Advantage I said nobody's

41:12

watching me does that make them easy to

41:15

manipulate these men

41:17

well I don't know if it meant I

41:19

manipulated them but it was easier to

41:21

compete with them because the word

41:23

manipulate is like a it's like a dirty

41:25

word but at the end of the day if

41:26

someone is thinking that you don't

41:28

matter and they're like disrespecting

41:30

you or they are sexist towards you

41:32

they're underestimation seems like an

41:35

opportunity it's a great opportunity

41:38

um you know who was easy to manipulate

41:40

though because when the business got

41:42

large we were more dependent on huge

41:44

development sites where they had three

41:46

four hundred condos for sale we'd have

41:48

to get control of that building and I

41:50

was a Salesman who got the control I

41:52

went out after the developers uh the

41:54

developers you could manipulate easily

41:57

as a Woman They had all men working for

41:59

them it was a man's world real estate uh

42:02

the developers uh didn't take me

42:04

seriously at all but I flirted I could

42:07

jolt I wore short skirts I dressed well

42:09

in tight suits I played my cards I wore

42:12

high heels even though my feet were

42:13

killing me yeah did I manipulate them of

42:16

course I did did I tell them they looked

42:18

handsome they were all handsome did I

42:20

tell them they were brilliant you're

42:22

brilliant they were all brilliant did I

42:24

manipulate yes I don't even think I'll

42:26

go to heaven I if you want to call it

42:28

manipulation

42:32

your Workforce if I if I spoke to one of

42:35

your employees and said

42:36

Barbara like to work with would you

42:39

imagine they would say to me I know what

42:41

they would say and you won't believe me

42:42

they would say I love Barbara well she

42:45

actually spoke to your assistant oh you

42:46

did well she's gonna lie

42:49

Emily yeah she said you were a nightmare

42:52

and I'm joking you wouldn't say that but

42:54

you know you have to ask you have to

42:55

realize who you're asking Emily is an

42:57

absolute angel on Earth she has never

43:00

had a bad day I don't I I wish I was her

43:04

she's incredible so you can't ask her

43:06

you have to ask a son of a [ __ ] who

43:08

works for me what would they say they

43:10

would say we love Barbara I'm telling

43:12

you and I deserve it I don't mean to

43:14

brag but I am the best boss I've ever

43:16

met by far and I don't think anyone

43:19

could be a better boss than me honest to

43:22

God and I think the root of being a good

43:24

boss is from the very first day I was in

43:27

business I understood the cardinal rule

43:30

which is I work for you you don't work

43:32

for me and that's my attitude my entire

43:34

life what can I do for you how can I

43:36

make a job earlier easier what don't you

43:39

like to do what would you rather do how

43:40

could I be this for you what what else

43:42

do you do you want I I shower my people

43:45

with anything they need

43:47

selflessly and you'd say well that

43:49

doesn't put the boss ahead it does

43:51

because as they get stronger and go up

43:53

the rank they carry me for a free ride

43:55

along with them that's how it goes no I

43:57

do believe the key to being a big a big

44:00

boss a growing boss and a great boss is

44:04

really understand you work for who's

44:05

working for you it's as simple as that

44:07

you know it's kind of like being a good

44:09

mother in a way you're slave to your

44:11

kids you just want to please your

44:13

children you know I've been thinking

44:14

about something recently about how um

44:17

leadership isn't about being and this

44:20

kind of sounds like it's wrong but let

44:21

me explain leadership isn't about being

44:23

consistent with your people some people

44:25

in your team will require a certain type

44:27

of treatment to get the best out of them

44:28

and then some people in your team will

44:29

require probably the opposite treatment

44:31

to get the best out of them do can you

44:33

relate to that does that strike so can I

44:36

tell you it's a misnomer that you would

44:38

treat anyone like someone else no I was

44:41

biased with every single person who work

44:43

with me I would do different things for

44:45

different people based on their own need

44:47

I would just really size them up what's

44:50

going to push this kid ahead what's

44:52

going to make this person have

44:54

confidence what could I do to and I had

44:56

a different formula for everyone no I

44:58

think the key was knowing each

45:00

individual and what floats their boat

45:02

what's important to them what's going to

45:05

make them better no I was never even

45:07

handed ever with any of the people I

45:10

worked with because they were all

45:11

individuals and today more than ever

45:13

people really want to be individuals

45:15

they want to be treated as individuals

45:17

they their interests first you know I I

45:19

meet a lot of my peers who complain that

45:22

uh the modern day worker is it wants to

45:24

be promoted fast wants their interest

45:26

met I'm like well that's fine I've

45:29

always done that you know that's the

45:31

right way to handle people to get the

45:33

best out of people yeah no that's the

45:35

way to go wherever that philosophy came

45:37

from they haven't created a big team or

45:40

they know better what characteristic

45:42

would I have to demonstrate working for

45:45

you that would make you fire me quickest

45:47

fire you yeah attitude okay absolutely

45:51

uh you know what happens is as careful

45:54

as I was to hire and I control the

45:57

hiring for probably the first 10 years

45:59

of my business until we got to 500

46:01

people and went past that I couldn't do

46:03

it anymore I did some but not a lot

46:06

um

46:07

what I would love to do is call someone

46:09

to my office on Friday I love firing

46:12

people on Friday I would stop by

46:14

someone's desk on a Wednesday and say

46:16

hey would you have any time sometime on

46:18

Friday they should have heard about the

46:20

rumors yes what time is good for you too

46:23

see you too I couldn't wait till they

46:26

came in to fire them you know why

46:28

because I picked out individuals who

46:31

were negative and my attitude toward the

46:33

negative person was they were ruining my

46:36

good kids because people who are

46:38

negative have to have somebody else to

46:39

be negative with them they got to talk

46:40

to somebody complain okay I'm not

46:43

talking about people who tell you what

46:44

you're doing wrong they're invaluable so

46:46

that you can get better I'm telling my

46:48

chronic complainers and negative people

46:50

you gotta get rid of them so I learned

46:53

very early

46:55

after firing one negative person never

46:57

tell them why you're firing them

46:59

okay or you're getting a Rat's Nest why

47:02

am I negative why aren't I so no you

47:04

just don't fit the company but why I

47:06

don't know you just don't fit the

47:08

company maybe that's a little mean but I

47:10

never carried a negative person for more

47:13

than a couple of months sometimes

47:15

they're undercover at first but

47:16

eventually they come out like hey do you

47:19

have any time on Friday

47:20

[Music]

47:22

if you ever ask me for a meeting on

47:25

Friday

47:27

I'll take the Friday off

47:32

blimey why why are you so irked by

47:35

complainers and is there is it something

47:37

about the thieves

47:39

they're thieves they take your money

47:41

away and they take your energy and the

47:44

most valuable asset you have is your

47:46

energy

47:47

and if they take your energy away you're

47:49

not going to deliver enough to everybody

47:51

else is not enough to go around no

47:53

they're thieves in the night they come

47:55

in they got their hands in your pockets

47:57

and they're taking your goods that's how

47:59

I see negative people when you have a

48:02

team filled with very positive people

48:04

it's like they're stuffing your pockets

48:06

with money and jewels all the time it's

48:10

the way you want to be it's those people

48:11

you want to be around have you noticed

48:13

because I think I've noticed this that

48:15

you know my my first business where we

48:17

had about somewhere around 500 people

48:20

95 of my people problems were created by

48:24

like one person of course the complainer

48:26

yeah the negative person you didn't ever

48:29

work on Friday

48:31

no do you know what I didn't realize I

48:34

should have just made the decision

48:35

quickly to get rid of them but then I I

48:36

had that complex which bosses sometimes

48:38

have where I go well if I get rid of

48:39

them then it's going to impact the

48:40

culture and then they're going to do

48:42

this and sometimes there's so much of a

48:43

complainer and so negative they've

48:45

acquired so many ears to be negative too

48:47

there was this fear that if I if I fire

48:50

them then there's going to be even more

48:51

negativity like like a volcano of

48:53

negativity that was naivety on your part

48:55

yeah sure you found very differently

48:57

once you fired amen yeah amen I learned

49:00

the lesson and one of my philosophies

49:01

now is like as soon as you know as soon

49:03

as you know fast as you possibly can and

49:04

your point about

49:07

um don't say it's because they are you

49:09

can't say because you can't win at that

49:11

game yeah you know it took me probably

49:13

three years I I hired a great salesman

49:17

from another firm which was reaching for

49:18

me because I groomed all my own no one

49:20

wanted to come and someone actually

49:22

wanted to come and work for me from a

49:24

bigger firm I couldn't believe it I

49:25

hired this lady she was so negative

49:28

right away so negative she had two

49:30

percents outward when you're

49:31

interviewing and inward when they're

49:33

working for you and she was so so

49:35

negative and I really thought I could

49:38

change her around I'm such a positive

49:39

human being everybody who's positive I'm

49:41

gonna change her around and then I

49:43

learned the important lesson if her

49:44

parents could make her smile I wasn't

49:46

going to forget it they had this lady

49:49

for their whole life and she's miserable

49:51

I'm not gonna make her happy and so part

49:54

of it is admitting defeat that you're

49:56

not all that powerful where you're going

49:58

to turn somebody around no negative you

50:00

just get rid of them terrible

50:03

let's talk about something positive what

50:05

about compliments

50:07

compliments when they're genuine not

50:09

compliments that are empty and not

50:11

compliments in front of a group for the

50:13

sake of grandstanding I just don't

50:15

believe in it people see right through

50:16

the [ __ ] you know everybody you

50:18

could get somebody with the lowest IQ in

50:20

the world you [ __ ] them they know it

50:21

they just know it you just assume people

50:23

are smarter than they look okay and so I

50:27

think a genuine compliment with

50:30

specifics to back it up is the greatest

50:33

thing in the world and you'll make

50:34

someone fly and become even stronger the

50:37

next day but if it's not specific and

50:40

why that was so smart that you did and

50:43

what it did for us that's a compliment

50:47

let's give her a round of applause okay

50:49

that's the right kind of comment but you

50:52

know to find those compliments it is

50:54

creating a habit as a manager or a

50:56

business owner of looking for I would

50:59

walk through and try to find anything

51:01

good I could talk about anything anybody

51:03

did good that somebody would stitch on

51:06

and then I get the details down and then

51:08

give them a compliment individually if I

51:10

thought they're a private person but if

51:12

I thought they're a competitive person I

51:15

always sit in front of the group because

51:17

they're competitive and they want

51:18

everybody to see they're better you know

51:20

so yeah yes the compliments are so

51:24

powerful but you know they pass I think

51:27

the greatest compliment you could give

51:28

an individual is trust that they are

51:30

better than they think they are

51:32

and I honestly think that people write

51:35

themselves off for so much less than

51:37

they're capable of

51:39

um when you say to someone I noticed you

51:42

dress I'll give you an example because

51:44

this is a silly example but I got my

51:47

advertising manager she was a Salesman

51:49

who was mediocre meeting overhead and

51:52

turning a little profit but not great

51:54

and I looked at her every day and

51:55

thought she is such a beautiful dresser

51:58

which she can do with her hair with a

52:00

clothing is incredible and I went out of

52:02

my way to walk over to her desk she had

52:04

the perfect match she had the perfect

52:05

thing her desk looked like I wanted to

52:08

vacation there it was so gorgeous so I

52:11

said to her Anita how would you like to

52:12

be my advertising manager she said I

52:15

didn't know you had an advertising

52:17

manager I said I don't but how about you

52:19

take it now how did I know she would be

52:21

exceptional in advertising because

52:24

everything about her was put together I

52:27

figured that how to transfer to great

52:29

graphics beautiful design the land out

52:32

of the page because she was that was

52:34

kind of like a page I saw on her desk

52:36

she was incredible I I I think you just

52:40

have to find the gift in people and

52:42

point it out and think how can I take

52:45

advantage and Anita became probably the

52:49

the Envy of every firmer in the in the

52:51

in the city because of our great

52:53

advertising that wasn't me I got the

52:55

credit was her but I blossomed her her

52:58

up because I saw that gift in her you

53:00

know sounds like a stretch but it's

53:02

really not you know it's not a stretch

53:04

if you keep your eyes open and see what

53:06

people are good at

53:07

we talked about the mouth there with the

53:09

smile but what about the eyes

53:11

you mean looking at someone in the eyes

53:13

yeah oh you have to I mean do you trust

53:15

anyone who doesn't make eye contact

53:18

ever really there you figure they're

53:20

either insecure they shift insecure

53:23

dishonest or

53:26

probably those two that's what I would

53:28

say dishonest or insecure either way you

53:30

don't want to hang out with them no the

53:32

eyes are key all right because I read

53:34

that in the pandemic when you were

53:36

hiring for one of your roles you

53:38

basically there was 500 people and you

53:40

basically excluded everybody that didn't

53:42

make eye contact with the camera you've

53:44

read that about me yeah I think it was

53:46

probably exaggerated I don't think it

53:47

was 500 people but just uh you know a

53:49

lot of people yeah but a lot of people

53:50

definitely okay you don't make it

53:53

absolutely and you excluded everyone who

53:55

had bad lighting I did yeah why

54:00

because it showed a lack of

54:02

aggressiveness and caring for themselves

54:04

I felt I mean if I was interviewing for

54:07

a job and I knew it was competitive most

54:09

jobs are I would want to show my best

54:12

self I think through everything I mean

54:14

maybe me more than most people would do

54:16

it but I think if you show up with bad

54:18

lighting and then on top of that you

54:20

don't make good eye contact next please

54:22

no it's just terrible no it's very hard

54:26

to hire people through covet online but

54:28

I never did in the end whoever I hired I

54:31

insist I meet them in person you can't

54:33

really

54:34

to his thorough job unless you're in

54:37

person I believe or I've never been able

54:39

to learn how to do that I had a few

54:41

words to say about one of my sponsors on

54:42

this podcast my girlfriend came upstairs

54:44

yesterday when I was having a shower and

54:46

she said to me that she tried the heel

54:47

protein shake which lives on my fridge

54:48

over there and she said it's amazing low

54:50

calories you get your 20 odd grams of

54:53

protein you get your 26 vitamins and

54:54

minerals and it's nutritionally complete

54:56

in the protein space there's lots of

54:57

things but it's hard to find something

54:59

that is nice especially when consumed

55:01

just with water if you haven't tried the

55:04

heel protein product do give it a try

55:06

The Salted Caramel one if you put some

55:09

ice cubes in it and you put it in a

55:11

blender and you try it is as good as

55:14

pretty much any milkshake on the market

55:16

just mixed with water it's been a game

55:18

changer for me because I'm trying to

55:19

drop my calorie intake and I'm trying to

55:21

be a little bit more healthy with my

55:22

diet so this is where heel fits in my

55:25

life thank you heal for making a product

55:26

that I actually like Intel now one of

55:28

our sponsors on this podcast and I'm

55:29

here to tell you about their vpro

55:30

platform security and data protection

55:32

are totally non-negotiable when it comes

55:34

to the tech technology I use for my

55:36

businesses I'm constantly thinking about

55:38

where we can upgrade our systems to

55:39

protect against potential threats so

55:41

this is where Intel V pro has become our

55:43

go-to Intel V Pro is built for

55:46

businesses it has a hardware-based

55:48

multi-layer platform security features

55:50

protecting from cyber attacks threat

55:52

detection and also recovery systems all

55:55

in one platform in an Ever challenging

55:57

cyber landscape if I can put measures in

55:59

place that I believe will save me time

56:01

and money then I absolutely will so head

56:03

over to

56:04

intel.co.ukvpro to find out how it could

56:06

work for your business

56:07

Shark Tank where I'm a dragon on

56:10

Dragon's Den you're a shark on Shark

56:12

Tank all the same yeah means you're a

56:14

sucker does it to be fair I mean I think

56:18

dragons are slightly more impressive

56:19

than sharks I'm gonna be honest you

56:21

think Shy I think sharks are more

56:22

impressive sharks are real dragons don't

56:24

exist we're kind of dragons are silly

56:26

it's an old-fashioned where it's sharks

56:27

and sharks well sharks well I mean other

56:30

than Jaws what if sharks really done for

56:31

society whereas a dragon is you you're

56:35

someone of great imagination to to be a

56:38

dragon you have to have great

56:38

imagination because they don't exist

56:39

it's like being a unicorn so can we

56:41

agree that dragons are better I know I'm

56:43

afraid

56:46

okay well you're on Shark Tank and link

56:49

to what we just said about quickly

56:50

assessing if a person is is legit and

56:53

worth investing in

56:55

what have you learned you've been on the

56:57

show longer than I've been on the UK

56:59

version of the show

57:00

what advice would you give me

57:03

as a new Dragon to be successful from

57:06

your experience I would say keep your

57:08

money in your pocket for a little bit

57:11

yeah and my first few seasons of Shark

57:13

Tank I spent so much money threw money

57:15

at the wall at anything that moved yeah

57:17

so I hope you haven't made that mistake

57:19

I needed like 11 investments in my first

57:20

season so but uh for me I what I have

57:24

learned in 14 years and I've learned it

57:26

a good 10 years ago I'd say

57:28

is I never choose a business I always

57:30

choose the entrepreneur

57:32

I have sat there and listened to

57:34

business plans that I don't even know

57:36

what they're talking about I it makes no

57:38

sense to me what they're talking about

57:39

uh because it's not a business I know or

57:42

I don't understand the terminology

57:44

and in the old days I would have thought

57:46

I was too stupid but now I know I'm

57:48

smart enough that if I'm not

57:49

understanding it's okay I'm probably

57:51

still smart

57:52

but I have to be really smart in making

57:56

the choice of the individual do I trust

57:58

this person

57:59

can I visualize them going through a

58:01

wall

58:02

what's their background are they good at

58:04

getting back up do they have ambition

58:07

not passion passion's so overrated I

58:10

feel passionate this we really want to

58:12

do this like saying you're excited about

58:14

your first date who cares you know where

58:16

do you marry the lady and see how you

58:17

feel but I think the commitment and the

58:21

drive and the ambition is what I'm

58:24

always looking for I'm looking just just

58:26

trying to smell it out if someone says

58:29

they were poor and they didn't have a

58:30

father let's say I'm biased right away I

58:33

want to buy the business

58:34

you want to invest straight away it

58:36

doesn't mean I will because I have to

58:38

hear more about how they handle things

58:40

what kind of an individual they are but

58:42

no I'm very biased or I should really

58:45

say I'm I'm not very nice or fair-minded

58:48

with Rich Kids

58:51

the problem with investing in a business

58:53

owned by a rich kid is usually raise

58:55

money already rather easily it's not

58:57

Sweat Equity so you got a chunk of

58:59

change to get started okay that's nice

59:02

now you would think that would make

59:03

things easier I think it makes things

59:05

difficult you don't spend your money

59:06

wisely it's Papa's money or if or your

59:10

parents friends money or wherever you

59:12

got it from so it's not valuable money

59:14

and I've seen more people stand and say

59:16

well we pivoted we lost that we pivoted

59:19

what happened to the guys that gave me

59:21

the cash what happened to them no regard

59:23

at all okay when you get a poor kid they

59:27

typically have something to prove they

59:29

really have to stretch every penny it's

59:31

their own money they die and just get a

59:33

little bit more there's so much a

59:35

greater need and it's also a desire

59:37

to do well in living in their life they

59:40

want to go on vacations they too want to

59:42

get a sports car they want to get a nice

59:44

apartment these rich kids have had it

59:46

all before they've been on vacation

59:47

everywhere they've always had rich cars

59:49

Rich parents so I think it's so much

59:52

harder for rich kid to succeed as an

59:54

entrepreneur I just love poor kids and I

59:57

have to tell you out of my whole

59:59

portfolio I don't have a single rich kid

60:01

who succeeded

60:03

well most of it is because I don't

60:05

invest in them in the last five years

60:07

but even when I did years ago none of

60:09

them succeeded no they went on to do

60:11

something else my poor people those are

60:15

my winners yeah they're desperate to

60:17

succeed

60:18

the only thing that beats growing up

60:20

poor in cochrane's opinion is growing up

60:23

damaged oh

60:26

yeah

60:27

well aren't we all damaged in one way or

60:29

another right

60:31

but you could get damaged by money and

60:33

affluence so easily I think it's easier

60:35

to raise a poor kid than it is a rich

60:37

kid

60:38

because of the circles they fly in their

60:40

value systems who they measure

60:42

themselves against what they measure

60:45

I think it's more difficult to be an

60:46

affluent kid or affluent Rich parent and

60:51

raise a good kid a good kid with values

60:54

I really think it's harder you know when

60:55

I said I spoke to your assistant I did

60:58

but we did Emily right yeah okay Emily

61:01

good thing you talk to the good one oh

61:03

there's another one there's three and

61:05

they don't like me no more okay

61:09

um and she told me about some pictures

61:11

in your office that are hanging on the

61:14

wall oh those

61:16

the whole way of Doom

61:18

what is the whole way of Doom

61:21

well you see

61:23

anyone who's on Shark Tank as you

61:25

well-known Dragon stem has in night in

61:28

the Sun

61:29

where they're on the show and everybody

61:30

orders from them and they become almost

61:34

Rich overnight or at least they think

61:36

they're going to be rich and they're all

61:37

celebrating excited all right and then

61:40

something goes wrong with the business

61:41

maybe three to four months out that's my

61:44

timetable I'm waiting for that day

61:47

Something's Gonna go wrong it's not just

61:50

the patent didn't come through that's

61:51

minor stuff like the mold was wrong

61:53

where they delivered 10 000 pieces

61:56

they're made wrong and he had the patent

61:59

I didn't know he was going to give it to

62:00

me but he ran off with it

62:02

something goes wrong I just wait around

62:05

and I watch and I say how's it going

62:10

and there's only two different responses

62:13

to that which is he promised me you know

62:16

he promised me I mean the guy said he

62:18

was good

62:20

I go over to my wall and I turn the

62:23

entrepreneur's picture upside down to

62:25

remind myself never to talk to them

62:27

again or spend time no I'll talk to them

62:29

but I'm not going to spend my time

62:31

because they're victims and then you

62:34

have the one in four people who handle

62:36

it this way ah crap I can't believe I

62:38

made that mistake okay let's let's see

62:41

what we should do

62:42

that's an entrepreneur

62:43

moving on moving out and going forward

62:46

and taking the blame even if they

62:48

weren't to blame every one of my really

62:51

successful businesses I've done so well

62:53

have had the worst setbacks but they've

62:56

always taken responsibility and those

62:57

pictures are always right side up they

63:00

call me on myself hello how can I help

63:02

you because they're phenomenal

63:04

entrepreneurs I believe that the

63:05

difference between the really good ones

63:07

and the ones that don't make it are the

63:10

ones that don't make it know how to be a

63:11

victim they feel sorry for themselves

63:14

they blame the next guy and they don't

63:15

take the responsibility as their own and

63:17

that's what an entrepreneur does you're

63:18

the boss it's your problem period it's

63:20

your your problem rest with you now what

63:22

are you going to do about it and these

63:24

kids that are are really equipped to to

63:27

not hesitate at all but just get on the

63:29

horse and go Galloping go and go and go

63:32

and go go going again they're terrific I

63:34

invest in uh Four Women cousins who have

63:39

a very clever wow I don't know how

63:41

clever the business was but I'm their

63:43

clever over and they lost eight hundred

63:46

thousand dollars a month three stolen

63:48

from their accounts couldn't pay the

63:50

suppliers all of their sales were gone I

63:54

couldn't wait to talk to them I was not

63:56

going to say too bad it happened I said

63:59

hey hi I heard

64:01

what are you gonna do

64:03

well we're thinking already back on the

64:05

horse they recovered the end of the year

64:07

with something like seven million

64:09

dollars in sales how did they do it they

64:11

are just not victims they go forward

64:13

forward forward forward those are the

64:15

people I love I love them

64:17

this allergic reaction to complainers

64:20

and pessimists and get back to that

64:22

again no but does it come from I was

64:24

just reflecting on how much your mother

64:25

you said you never even saw her sleep no

64:28

she was just or she didn't complain she

64:30

just got on with it is it influenced by

64:33

that

64:34

um I'll tell you what my mother did

64:35

which did influence all of us uh if we

64:38

went to my mother uh with something my

64:40

brother John did to me well my sister

64:42

Ellen did to me something unfair we'd go

64:44

to her she took this from me she wasn't

64:47

supposed to my mother would punish us

64:49

both

64:50

she didn't hear the complaints she said

64:51

you're both punished sit down

64:54

you have an hour

64:56

that's it there was no sense in

64:58

complaining about anything so we never

65:00

complained we learn in short order as

65:02

little kids you don't complain you just

65:04

shut up otherwise you both get punished

65:06

and you know in business it's really

65:08

that way if you think about it uh yeah

65:12

if you're going to complain

65:14

you know I even had an incident I

65:16

learned very early on that just popped

65:18

in my head that reminded me so much of

65:20

my mother I had two department heads who

65:22

hated each other and I wasn't aware of

65:24

it someone brought my attention to it

65:26

anyway one came in and told me what why

65:28

this other department was getting in the

65:30

way and the other one in one of them

65:31

around I said wow this must be terrible

65:34

for you I was empathetic empathetic

65:36

listen to both complaints and then I

65:39

said we here with the second one I went

65:40

and got the first complainer and I said

65:42

okay girls uh you obviously have a

65:45

problem with the way you're working

65:46

together figure it out you're both fired

65:48

I was mimicking my mother figure it out

65:50

or you're both fine I left the room they

65:52

figured it out they never came to me

65:54

again with a complaint you know

65:57

yeah it worked it works against

65:59

everybody you know it just works against

66:02

everybody the culture of the business in

66:04

every way

66:05

Bill Bill oh [ __ ] bill

66:10

you know what all my friends call Bill

66:11

poor Bill this is not a shame I'm the

66:14

nice person bill is a difficult man and

66:18

yet everybody who knows us both calls

66:20

him poor Bill like he married the wrong

66:22

person

66:23

that is your husband yes 37 years he

66:27

said he's the nice one and you're the

66:28

difficult one who said that you spoke to

66:30

Bill you spoke to Bill yeah don't

66:33

believe it

66:35

I can't believe he even answered the

66:37

phone he's always watching TV I didn't

66:39

speak to him oh gosh

66:40

you know ironically if you did speak

66:42

with Bill Bill adores the ground I walk

66:45

on can never say anything negative and

66:48

all I do is complain about Bill

66:50

and all I do is say negative things

66:52

about him

66:55

I really mean it I'm a terrible wife

66:59

I really am not just saying that but you

67:01

should talk to Bill he'll confirm this I

67:03

did and he'd confirmed it I did your

67:05

terrible um the thing I was really

67:07

compelled by is I was reading how at

67:08

some point you started out earning Bill

67:10

yes and that in a relationship can have

67:13

an interesting Dynamic on the like

67:16

on the relationship yeah because of the

67:19

stuff definitely and that's what I was

67:21

reading about your story about it being

67:23

a struggle at some point you first lied

67:26

when you

67:27

out earned him for the first time you

67:29

put it down to an accounting error and

67:30

you seem to kind of not want to

67:33

it was tough at first you know when I

67:36

met Bill he owned a brokerage firm in

67:37

New Jersey and I earned I had one in New

67:40

York I had 19 20 people here 19 20

67:44

people we were even right and then

67:47

within the next four years I had 500

67:51

people and he had 22.

67:54

not a good scene all right we're both

67:57

earning about just able to pay our rent

67:59

kind of when we got married

68:00

uh but when it went a skew that I out

68:04

earned him by a mile uh you have ego at

68:07

risk you know really uh very much so

68:10

absolutely and I married the kind of guy

68:13

that was most bulletproof for feeling

68:16

ashamed about not earning money he was

68:18

an FBI agent he was a top selling agent

68:21

in New Jersey when he was a young stud

68:23

he graduated from Annapolis he was an

68:26

honored Navy Captain I mean he was

68:28

accomplished the head of the Republican

68:30

Club in the state of New Jersey

68:31

everything he did he was accomplished

68:33

all I did was run a business all right

68:35

however

68:37

all of that stuff is not measured by

68:40

money

68:40

you know once I was making a lot of

68:42

money

68:43

it was hard for Bill it was hard for

68:45

Bill it was like everybody knew me once

68:48

I had notoriety you're married to

68:49

Barbara he stopped being bullied Bill

68:52

Higgins the FBI agent he stopped being

68:54

Bill Higgins the Navy Captain I mean all

68:58

that stuff uh kind of didn't count as

69:01

much anymore and it should have because

69:03

we're in a New York town where everybody

69:05

values You by how popular and how much

69:07

money you make and he was less than me

69:10

but how did he stay with the marriage

69:12

after all these years

69:13

because Bill really doesn't have much

69:16

value for money he never did it's not

69:18

important to him he's just a nice guy

69:20

but I had an issue with it yeah I had an

69:23

issue I felt uh not feminine enough when

69:26

you out earn your husband you don't feel

69:27

that feminine you feel like the caveman

69:29

instead of cavewoman

69:32

we have a closing tradition on this

69:33

podcast yes this question is always left

69:35

by the okay the last guest

69:37

the last guest left the question for you

69:39

what did you learn from your greatest

69:41

failure

69:43

I learned that you get back up and all

69:46

the opportunities and getting back up

69:48

just got to be a habit of getting up you

69:50

get up and you're going to find some

69:51

[ __ ] that you could do something with

69:54

just get up

69:55

that's a habit you have to make that

69:57

habit Barbara thank you my pleasure

69:59

thank you for the inspiration thank you

70:01

for the humor you're hilarious and

70:02

Brilliant and equal measure and you're

70:04

you absolutely are you absolutely are

70:06

and you're you're definitely in my top

70:08

two favorite sharks you and Damien are

70:10

my favorites so oh forget about Damian

70:13

okay he's no good Mark's not good

70:16

thank you so much I don't want to be

70:19

among your favorite sharks I want to be

70:20

among your favorite people in the world

70:22

you're my favorite shark now now that

70:23

I've mentioned you're so funny but so

70:25

for sure for sure thank you for the

70:26

inspiration I don't believe you I'm

70:27

looking you in the eyes you can trust me

70:29

I do trust you you're very trustworthy I

70:32

can tell thank you so much Barbara

70:34

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70:36

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[Music]

Interactive Summary

This episode features Barbara Corcoran, a successful real estate entrepreneur and Shark Tank investor. She shares the story of her upbringing in a large, competitive household with ten siblings, which she credits for developing her strong team-building skills and competitive nature. Barbara discusses her challenges as a dyslexic student, her journey through 22 jobs, the founding of her real estate firm after being scorned by a partner, and the principles of creating a fun and effective company culture. Throughout the conversation, she reflects on the influence of her parents, her perspective on hiring, the necessity of resilience in entrepreneurship, and her unique views on leadership and relationships.

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