and the superstars who pushed Corcoran Group to its success . In them , Corcoran could see someone who wouldn ’ t quit , even when they were knocked down .
“ I found when they take a hit — sales is a lot about taking a hit — they simply felt sorry for themselves , but they took less time to feel sorry for themselves ,” Corcoran said . “ It ’ s almost as if their IQ was low enough where they got back up . Intelligence would say lay low and lick your wounds .”
For Corcoran , a great sales force is told through numbers , but the qualities that make up that force can be found in the failures . Much like the insult hurled at her decades ago , Corcoran believes that times of adversity are when salespeople should show up the most , and finding the right people for that job goes beyond schooling and experience . It ’ s a feeling found deep in the moment of crisis .
Today , Corcoran uses that same philosophy with the entrepreneurs she supports and funds through “ Shark Tank .”
“ I wait until they get their first bad hit , and I want to be on the line to hear what they do . The minute I hear , ‘ It wasn ’ t my fault . That guy promised me …’ Anything that smells like that — I have all my entrepreneurs hanging on a matted frame on my wall — and I walk over and turn them upside down ,” Corcoran said . “ I remind myself to never spend any more time with them . They ’ re not going to make it .”
Building a successful business , one that can withstand mergers , acquisitions , recessions , and even insults , doesn ’ t require employees who are prestigiously educated or have worked as salespeople their entire lives . Businesses require much more fundamental support through employees that can think with their gut , move on quickly , and build strong foundations .
The Innovation That Moved Her Forward
After years of following this sales model , Corcoran sold Corcoran Group for $ 66 million . At certain points , there were offers hitting well below that . These moments were often when there appeared to be no other way out of the chokehold than to sell .
That ' s when Corcoran listened to her own advice — Simoné ' s insult — and persevered more .
At one point , Corcoran was sitting on a $ 300,000 debt to Citibank and a credit line she couldn ’ t pay , contemplating how Corcoran Group was going to climb itself out of the recession it was drowning in . Housing interest rates had climbed to 19 %, and the market was cold . No one was going to dip their hand in that pool , no matter how good the price appeared .
Then , the walls closed in further . An insurance company called her with 88 apartment units that had been on the market for more than two years , and after numerous brokers , they just needed someone to sell the units . It was another blow to Barbara ’ s dwindling options .
“ They were the dogs of the market . No kitchens , no baths ,” Barbara recalled of the seemingly useless dump that had suddenly landed on her lap . “ I said , ‘ Nobody is going to buy this , I hate to tell you .’”
She knew that they had heard it before , but like Corcoran , the insurance company was desperate to push the units off their books .
That night , Corcoran met with Kaplan . Organized and numbers-focused , Kaplan was the calm in Corcoran ’ s energetic and risky business plan . That night , Kaplan and Corcoran