By Bill DeBernardis; Originally published in OCBA Magazine
I was reading an article about American businesswoman and investor Barbara Corcoran, the now-famous panelist on the TV show, Shark Tank. She was originally offered a spot on the program but was unceremoniously dropped before the first episode was even filmed.
She contacted Mark Burnett, the show’s creator, and told him this rejection was a lucky charm, explaining, “Everything good happens to me after I get rejected.” Thanks to her toughness and fortitude, Corcoran has gone on to greater wealth, fame, and fortune because of her role on this popular reality television series.
What lessons can we learn from her experience and how can they be applied to make a business more successful?
There are two elements to look at: your inner growth as a businessperson and your outer growth vis-à-vis the people with whom you surround yourself. In terms of your growth as an individual, don’t dwell on the negative. Everyone experiences failure to some degree.
Don’t wallow in it, learn from it. Analyze what went wrong. Ask yourself: How should I have approached the situation to improve my chances for success? Lessons learned from a failure can help guide you down the road to success the next time.
Turn negatives into positives. Take constructive criticism to heart and adopt an “I’ll show them attitude.” Analyze what you could have done differently and adjust your approach for the next task. If you have the will and desire, you can overcome obstacles in your path.
Focus on the things you can control. In Barbara Corcoran’s case, although she was told she lost the part and couldn’t force Burnett to change his mind, she convinced him to allow her to try out for the part. She got on a plane, made an appearance at the audition, and got the job.
She analyzed the situation and asked herself: “How can I make things better?” She took action and succeeded with her emotional intelligence, tenacity, and toughness. Lesson learned.
