When assessing all of Barbara Corcoran's business-savvy accomplishments it seems like she's always on top, but the trailblazing business mogul is the first to acknowledge her moments of failure, and how they led her to exactly where she is today.
We caught up with Corcoran at an inspiring T.J. Maxx event to celebrate the Maxx You Project in NYC, where she shared valuable advice about overcoming defeat, drawing from her own personal experience.
Being able to bounce back is crucial, and Corcoran learned that early on in her career. “It takes a little failing to know it, but I knew it probably by the time I was 25: when I failed at something, I found that if I just hung in there and believed there was something good that was gonna happen on the heels of that, something's gonna bounce," she says. "Because there’s always a bounce up from a failure fall down, and I looked diligently for the bounce up."
"I have learned that, every time, the bigger the failure is, the bigger the bounce will be."
Sometimes you may bounce back, (or back "up" as Corcoran says), on a new path you didn't originally set out on -- and all you have to do is keep looking forward. The real-estate mogul recalls one moment in particular where her failure led her to something completely new...the internet. "I discovered the internet five years before anyone in real estate, and the reason I was on the internet was because I was recovering from a stupid idea: homes on tape," she recalls, saying she threw the unwanted tapes on the internet, which, at the time, was something her "husband told me about."
So, what did she do next? "I registered all my competitors’ URLs that day, I owned every URL in town. Which was satisfying when I realized what the internet was going do to the real estate business."
Corcoran might have made a bad business move, but her savvy foresight led her to a venture that was far better--and she firmly believes in the "bounce up" because, throughout her career, it's occurred time and time again. "I have learned, that every time, the bigger the failure is, the bigger the bounce will be," she adds. "I really know that you get rewarded for failure, and I know it because I've never had an exception. If you cast yourself out, the universe comes around and lifts you up.”
Corcoran's trailblazing ability to persevere throughout her successful career perfectly aligns with the Maxx You Project, which aims to help women everywhere identify their personal strengths through experiments and quantitative research. To learn more about the initiative and try the exercise for yourself, visit Maxxyouproject.com.