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Eight Lessons for Success (And Some Other Insights) by Barbara Corcoran
I had the privilege of speaking at the National Women Business Owners Corporation (NWBOC – www.nwboc.org) conference last week in Palm Beach, Florida. One of the highlights of the conference (where 200 women business owners came together to learn, share, and connect) was keynote Barbara Corcoran. Barbara is one of the most successful entrepreneurs in the country. She took a $1,000 loan to start her real estate company, The Corcoran Group, which she grew into a $5 billion business. She sold the firm for $66 million in 2001.
Barbara is also a host and investor on ABC’s Shark Tank. During the last three seasons, she has bought 11 new businesses. She is also the author of three best-selling books, and is a regular small business and real estate contributor on all of the major networks.
Like all great entrepreneurs, Barbara’s journey to success has been filled with wonderful lessons. I have summarized them here for you.
Accountability and Goal-Setting (Follow-up to WBR Segment 1/13/2013)
My January small business segment on ABC’s Washington Business Report with Rebecca Cooper-Dupin focused on accountability and goal-setting strategies to start 2013 strong. Accompanying me was my accountability partner and personal financial advisor, Anne McCabe Triana, owner of CAM Private Wealth (http://www.camprivatewealth.com). I’ve expanded on those strategies here, incorporating many great ideas from other small business owners.
Feeding Your 4 Food Groups in 2013: Mind, Body, Heart/Soul, Spirit
Forget the USDA Food Pyramid (at least for the next few minutes). The four food groups that truly nourish us are our Mind, Body, Heart/Soul, and Spirit. When we feed these every day, the rest of life takes care of itself.
Here are specific ways you can feed these four food groups in 2013.
Two Most Common Entrepreneurial Attributes – Not What You Think!
Entrepreneurs know that they require tremendous resilience and energy to recover from setbacks, move through challenges, and inspire others when situations are difficult. I’m often asked how I do have so much energy – especially since I live a caffeine-free/sugar-free life (no coffee, soda – or even chocolate as of October 1st).
I never have an answer because I don’t really understand what people are talking about. I only operate at this energy level. Anything else seems to be in slow motion.
Most entrepreneurs have two common attributes:
A high BS level (always well-intentioned of course.) This could also be known as eternal optimism or eternal positivity
Your Greatest Success Lies Directly Behind Your Greatest Challenges
“Every adversity, every failure and every heartache carries with it the seed of an equivalent or greater benefit.”
This is just one of the golden nuggets of wisdom that stays with me from one of my all-time favorite business books, “Three Feet From Gold” by by Sharon L. Lechter and Greg S. Reid. (http://threefeetaway.com/). The book is a synopsis of Napoleon Hill’s philosophies for success (http://www.naphill.org/).
The title conveys that people often give up on their dreams because they believe they can’t succeed, when in reality, their success is within their grasp – sometimes literally three feet away.
Feeling discouragement or even despair when we’ve convinced ourselves that success isn’t an option happens to everyone. So how can we push past the negative thinking? How can we find the strength and resolve to continue for three more feet to find our own pot of gold?