Barbara Corcoran, celebrated investor and personality on Shark Tank, has become a beacon of practical wisdom and inspiration. Known for her sharp business acumen and candid advice, she captivates audiences with a rare combination of pragmatism and emotional insight. Watching her interviews, one cannot help but admire her ability to break down complex ideas into actionable steps while reflecting on the deeper human elements that shape business success and resilience.

Corcoran first caught my attention when she let loose with her unfiltered, straight-shooting advice during an episode of Shark Tank. It was an unforgettable moment—her raw honesty and openness were nothing short of electrifying. From that point on, I couldn’t help but pay closer attention to her interviews and statements, discovering layers of wisdom and insight that go far beyond simple business strategy.

Though Corcoran herself wouldn’t claim to be a genius, her ability to analyze, reflect, and articulate powerful lessons is remarkable. Her perspectives on failure, confidence, and perseverance offer timeless guidance for anyone looking to grow in the business world.

This article delves into Corcoran’s most impactful business lessons and her unique ability to inspire through honesty, relatability, and experience.

“Succeeding Is an Option” – A Reflection on Barbara Corcoran’s Statement, Privilege, and Psychology in Entrepreneurship

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Barbara Corcoran, a successful entrepreneur and investor from the U.S. television show Shark Tank, once said to a founder during an episode:

“When I was starting my business, if I didn’t make a deal within two weeks I was dead. I needed to live somewhere and eat. What is in your way I believe is that your father is helping you. Because succeeding is an option versus a necessity. And I found that the people that really succeed have a real necessity. They have to do it or the sky is going to fall in. With the absence of that I can’t believe enough to put my money in.”

This statement highlights a crucial point: successful entrepreneurship is often driven by two central factors – the necessity to succeed and the conscious decision to pursue success. Beyond the obvious economic and social implications, there are also fascinating psychological aspects influencing this process.

Necessity as a Driver of Motivation

Corcoran emphasizes how urgency can serve as a powerful motivator. In psychology, this is known as “survival mode”. When faced with existential threats, people mobilize all their resources to address the situation. This state activates the sympathetic nervous system, responsible for the “fight-or-flight” response.

In entrepreneurship, founders facing financial difficulties often exhibit higher levels of focus, creativity, and risk-taking. They simply have no choice, forcing them to solve problems quickly and effectively.

Angela Duckworth’s research on grit (passion and perseverance for long-term goals) supports this idea. Her studies show that individuals under pressure often develop greater resilience—a critical success factor that helps them endure setbacks and stay committed to their goals.

The Safety Net: Blessing or Curse?

A safety net, such as financial support from family, may seem advantageous at first glance. However, Corcoran’s statement suggests that it can also become a hindrance. Psychologically, several explanations exist for this phenomenon:

The “Option to Quit”

Corcoran’s phrase “succeeding is an option” also implies the possibility of not succeeding. Studies indicate that people often choose the path of least resistance when they have the option to retreat from a difficult situation. A safety net makes it more likely for someone to use it rather than face the uncertainties of entrepreneurship head-on.

Privilege and Its Role in Entrepreneurship

Corcoran’s statement cannot be viewed in isolation, as it omits the structural context. In both the U.S. and Germany, many founders succeed due to privileged backgrounds. A well-known example is Bill Gates, whose wealthy parents provided access to excellent education and technological resources that facilitated his entrepreneurial journey.

Studies show that privilege not only offers financial security but also access to networks, mentors, and knowledge. According to the 2023 KfW Entrepreneurship Monitor, only 10% of founders in Germany have an academic background, which is often linked to better financial resources and networks.

Women and the Challenge of Building Networks

Another crucial point is the disparity between men and women in accessing networks. Networks are vital for entrepreneurial success, yet women often face greater challenges in breaking into established structures.

A World Economic Forum study reveals that women worldwide have less access to professional networks than men. This disparity stems from societal norms, gender-specific expectations, and the underrepresentation of women in leadership roles.

One striking example is the venture capital industry: only about 2% of global venture capital goes to female founders, according to a Harvard Business Review study. This lack of support forces many women to take smaller steps, slowing their growth.

The Role of Mindset

In addition to external factors, mindset plays a decisive role in success. The belief that success is possible significantly influences decisions and actions.

Barbara Corcoran’s statement, “Succeeding is an option,” highlights the importance of this inner attitude. Psychologically, she touches on the concept of self-efficacy—the belief in one’s ability to achieve specific goals. Studies by Albert Bandura, the founder of self-efficacy theory, show that people with high self-efficacy are more likely to take risks and overcome challenges.

A strong mindset can also help overcome systemic barriers. Programs such as mentoring, coaching, or entrepreneurship initiatives for women can help build confidence and strengthen skills.

Conclusion: Success Is an Option – But Not Equally for Everyone

Barbara Corcoran’s statement hits a nerve: success in entrepreneurship is a conscious decision shaped by hard work, discipline, and risk-taking. However, reality shows that external circumstances—be it a safety net, privilege, or structural barriers—play a decisive role.

For founders without financial support, necessity can be a powerful driver. However, the challenge lies in turning the pressure of urgency into sustainable motivation without compromising mental health. At the same time, structural barriers, especially for women, must be dismantled so that success truly becomes an option for everyone, regardless of gender or background.

Psychologically, Corcoran’s statement is a call for self-reflection: Am I willing to give my all to succeed? And what internal or external factors are holding me back? Success is not just a matter of necessity but also a choice to rise above one’s limits.

How do you relate to Corcoran’s statement? Is success for you more about necessity, mindset, or external circumstances?

By the way, at the time of the interview with “The Diary of a CEO”, Barbara was 73 years old. Can you believe it? What an impressively sharp mind at the age of 73. She inspires confidence and shows that you can still be fully active and successful as an entrepreneur at that age, with such a sharp mind.