Barbara Corcoran Spills On How Her Mother Became Her Biggest Business Guru

You've seen Barbara Corcoran on ABC's Shark Tank, so you already know that the entrepreneur knows what it means to launch a business and flourish in the financial investment. Thankfully, a knack for business was something that the mogul always had as a resource with the guidance of her late mother, Florence Corcoran. In the first episode of her new podcast, "Business Unusual," which was presented by Dell Small Business, the entrepreneurial dream went into detail about her mother's longtime business mentality and how it had a crucial impact when she was faced with a professional crossroads.

"I spent 25 years building a real estate company in New York City, and then I sold it, and I was lost. What I realized was that leaving your old job is hard," the 69-year-old mogul explained in the "How to Reinvent Yourself" episode, adding that she started to long for the day-to-day doings with co-workers, morning rituals and the other facets of corporate America. "I instantly felt old thinking that nothing really exciting was ahead of me because the best was behind me, and of course, I faced my worst insecurities that I'd be a nobody for life. But then one day I realized, no, I didn't sell my golden goose, which is what I was thinking at the time, but instead, I realized all I did was sell one golden egg, and I would lay another."

To put the strategy into place, Corcoran had a moment of self-reflection, where she prioritized her interests in having a platform in TV business or PR, focused on growing a tougher skin and tossed her old Rolodex aside. "I had to learn to get past being insulted, and in the silences, I learned to be patient, something I'd never learned to be before. Eventually, I landed a spot on a new show out there called Shark Tank," Corcoran, who reportedly has a net worth of $80 million, explained. "10 years later I've invested in over 40 new businesses and having the time of my life. It's never too late to reinvent yourself."

Who helped Corcoran in her journey? You can credit her late mother, Florence Corcoran, for the advice. After all, she raised 10 children in a two-bedroom flat in New Jersey, all while she was already working. "I learned by example you've got to really work hard and I took that into my business career. My mom taught me to always focus on the positive in people and try hard to ignore the negatives," she explained, adding that her urge to look for the positive in something can be seen on Shark Tank. "She spotted the positive in each child the day they were born, would announce it to each of the siblings, and make us perform that gift for the rest of the family for the rest of our lives."

Incorporating that positivity and her eye for spotting successful practices helped her create a system that ultimately worked for her in the long run. "I found that anything I did more than once, I stopped and thought, 'What's the system here and how can I organize it better?' And by creating the systems I was able to build a big business much faster than my competitors," she said. "The key here is listen to your mom. She's a lot smarter than many of the gurus that claim to know a lot about business."

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The Business Unusual with Barbara Corcoran on iHeartRadio gives listeners an inside look at the entrepreneur's decades-long career, including her first-person stories on triumphs and pitfalls. As you listen to her new podcast, you'll learn a wave of advice that has helped a new generation of young entrepreneurs achieve their goals. As one of the judges on ABC's Shark Tank, Corcoran knows about the inner workings. After all, she has had 22 jobs by the age of 23, built a $5 billion business with a $1,000 loan and conquered the New York real estate world.

Photo: Katherine Tyler for iHeartRadio