您可能不希望听到这个最大的建议From Barbara Corcoran — But She Says It's the No. 1 Key to SuccessThe founder and investor joined several other "Shark Tank" judges for an Advertising Week panel discussion.

ByAmanda Breen

Key Takeaways

  • A lot goes into starting and running a successful business — but Corcoran says it's all just "trimmings."
  • According to Corcoran, all "great entrepreneurs" have the stamina to get up immediately after a setback.

There's no shortage of resources foraspiring entrepreneurswho want to learn what it really takes tostart and growa successful business. But perhaps some of the best authorities on the subject?Shark Tank'sdeal-savvy judges.

Earlier this week,Barbara Corcoran, Mark Cuban, Daymond John,Kevin O'Leary, and Lori Greiner came together for an Advertising Week panel in New York to celebrate 15 seasons of ABC'sShark Tankand share the business insights they've gleaned over the course of the show.

Related:Barbara Corcoran on the 5 Traits All Successful Entrepreneurs Share

During the discussion, which was moderated by the CEO of Thrive Global,Arianna Huffington, an ever-relevant question arose: What do small business owners need to know in order to succeed?

一些建议从圣到处游逛art: embracing and learning aboutAI, having a healthy dose of "fiery" ambition, staying curious, knowing how to reach customers and measure the cost of advertising, and, as always,brainstorming a great ideathat solves a problem for a lot of people.

Corcoran sees the value in all of the above. But the real-estate brokerage founder and investor says it's just "trimmings" and "not the core of what makes an entrepreneur." And she's especially wary of chalking up success to having a "great idea."

Image Credit: John Lamparski | Getty Images

"I've invested in a lot of businesses with great ideas," Corcoran explains, "and I don't find that they're [always successful]. In fact, that's often not the case."

Related:Barbara Corcoran Says Ask This One Question in an Interview

So what is the No. 1 key to success, according to Corcoran?

"I find that the businesses that do well [are run by] the people who have the stamina to get back up after they've had hardship," she says. "In fact, when I look at my really successful entrepreneurs and compare them to everybody else, the real difference I see is that they spend less timefeeling sorry for themselves. It's as simple as that. They get a rejection, and they get up like a jack-in-the-box and say, 'Hit me again.' And if you have that kind of stamina in your gut, you become a great entrepreneur."

Amanda Breen

Entrepreneur Staff

Features Writer

Amanda Breen is a features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Related Topics

Leadership

What Expert Mountaineers Can Teach You About Accomplishing Your Most Daunting Tasks

Use these tips to successfully summit your next challenging project.

Social Media

Free Webinar | November 16: Influencer Outreach 101: Strategy, Tactics, Examples, and Templates

Uncover strategies, tactics, real-world examples, and templates that will connect with influencers effectively and elevate your brand's visibility. Register now →

Business News

This Man Won a $22 Million Lottery Jackpot, But He and His Wife Won't Tell Their Kids — Here's Why

An anonymous caller named "John" shared his story on a recent episode of "The Ramsey Show."

Health & Wellness

How to Heal From Divorce Using Manifestation

Manifestation is an incredible tool for healing and making big or small life changes. Make it a constant practice, and you will feel a difference.

Side Hustle

5 Critical Lessons I Learned Turning My Side Hustle Into a Million-Dollar Business

These tried-and-true tips will save you time, scale your business, and make you money.