3 traits every successful 'Shark Tank' entrepreneur has

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Barbara Corcoran Discusses Her Role On "Shark Tank"

Every Shark Tank entrepreneur who has received an investment from Barbara Corcoran has demonstrated these characteristics.

In a recent interview, Barbara Corcoran, businesswoman and a "Shark" investor on ABC's Shark Tank, shared the three traits she looks for when investing in entrepreneurs.

Corcoran has invested in more than thirty Shark Tank businesses while putting in ten hour days on the set of the American reality television show. While listening to the entrepreneur's pitch, she tries to figure out what she doesn't like about the entrepreneur. She hyper focuses on the person and not the business plan.

Check out our exclusive live interview with Barbara from our Facebook:

Of all the truly successful Shark Tank entrepreneurs over the last seven years, Corcoran says that they all possess these three traits. While she may give a more business-related reason for choosing not to invest, rest assured she got out because the entrepreneur lacked one of the below.

1. Street smarts

Corcoran looks for entrepreneurs who are smart on their feet and fast thinking. They must possess common sense and have a firm understanding of what's going on in their industry or space. Understanding people and having the ability to adapt to various people and situations is also critical.

2. Enormous energy

Corcoran believes that some people are naturally wired with more energy than others, but she's also looking for the passion and conviction that translates into energy. Without enormous energy, Corcoran believes the entrepreneur will lack the ability to take the business to a successful level. Everything else about the business may be right, but if the entrepreneur lacks energy, Corcoran will not be investing.

3. Rebound ability

Corcoran pays close attention to how the entrepreneur "bobs and weaves" the questions from the Sharks. If the entrepreneur gets knocked down by the Sharks' questions or comments, she wants to see how fast they rebound. She also listens carefully to the entrepreneur's story for examples of how they have overcome failure.

When Corcoran decides to back a business, these are the three essential entrepreneur traits. Harness and demonstrate these traits to receive Shark Tank worthy attention for your ideas.

Consider taking Barbara Corcoran's Entrepreneur IQ Test to see if being an entrepreneur is right for you and/or to identify your strengths and weaknesses as an entrepreneur.

Take a look at these quotes from 'Shark Tank's Robert Herjavec about what it takes to be successful:

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robert herjavec 1:1 quotes
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3 traits every successful 'Shark Tank' entrepreneur has

“I think we all go through a period where you really want to fit in, but you want to be different, and for me it was all about proving the sacrifice my parents made was worthwhile.”

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“You’ve got to love what you do, I know it’s a cliché, but if you love what you do, you’ll never work a day in your life.”​

Photo credit: Getty

“Don’t come to me with a problem, come to me with alternatives for solutions.”​

Photo credit: Getty

“If you look to danger, you go towards danger.”​

Photo credit: Getty

“If you can’t sell yourself, you’re going to have a hard time in anything in your life.”​

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