- Barbara Corcoran has appeared on “Shark Tank” for years, and has invested in many startups through the show.
- She is a successful entrepreneur in her own right: In 2001, she sold her real-estate company, The Corcoran Group, for about $US66 million.
- Speaking with host Farnoosh Torabi on an episode of podcast “So Money,” Corcoran said the most successful companies in her portfolio are run by “partnerships” – two people instead of one.
Barbara Corcoran started her real-estate business, The Corcoran Group, with a $US1,000 loan, and built it into a behemoth that sold for $US66 million.
Then, she became a “Shark” on ABC’s hit business show “Shark Tank,” evaluating and investing in startups looking for funding over the course of nine seasons.
So you could say she knows what she’s talking about.
On an episode of podcast “So Money,” Corcoran spoke with host Farnoosh Torabi about money, from her childhood lessons to her present-day investments.
Torabi pointed out that Corcoran’s fellow Shark, Kevin O’Leary, has said in the past that he sees a commonality among his most successful companies: They tend to be run by women.
Asked by Torabi if she sees the same, Corcoran said she hasn’t observed that pattern, but she has found another one. The most successful companies in which she’s invested tend to be led by “partnerships” – as Corcoran puts it, “two people for the price of one.”
In fact, among her own investments, she finds those led by two men have been the most successful so far. “Isn’t that weird?” she asked Torabi. “I’m going to have to trade businesses with [O’Leary]. I’d much rather be working with the girls and the guys.”
Corcoran didn’t name the startups she’s talking about, but she’s told Business Insider in the past that her most profitable investments from “Shark Tank” have included online cake company Daisy Cakes, women’s apparel company Grace and Lace, gourmet popcorn company Pipsnacks, women’s swimwear company Raising Wild, and food truck company Cousins Maine Lobster.
Out of the admittedly small sample size, Cousins Maine Lobster is the only one run by two men, cousins from Maine who moved to California. Corcoran told Torabi the cofounders “are like dream entrepreneurs.”
Cofounder Jim Tselikis told Business Insider’s Richard Feloni that some of the best advice Corcoran ever gave them was, “Everything that comes your way isn’t a good opportunity.”
Corcoran has also told Business Insider in the past that her most successful entrepreneurs tend to be people who are “street smart” and who take responsibility for their own failures. “When they’re slammed they don’t feel sorry for themselves,” she said on an episode of Business Insider’s podcast, “Success! How I Did It.” She continued: “Every one of my successful businesses are run by entrepreneurs who are so good at taking a hit and getting back up.”
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