In her book “Shark Tales,” Corcoran shares a wealth of insights and lessons learned from her decades of experience in the business world, as well as her time on Shark Tank. These insights are not only valuable for aspiring adult entrepreneurs but also for homeschooling families looking to nurture the next generation of creative problem-solvers and innovative thinkers.

So, what can we learn from Barbara Corcoran’s Shark Tank experiences?

Here are some key tips for nurturing young entrepreneurs:

1. Encourage them to trust their instincts. One of the most important lessons Corcoran has learned throughout her career is the value of trusting her gut. When she invested in Ava the Elephant, a medicine dispenser for children, other investors thought the idea was silly. But Corcoran sensed that the entrepreneur, Tiffany Krumins, had the determination to succeed, and she followed her instincts – a decision that ultimately paid off. Encourage your children to listen to their own inner voice and trust their instincts when pursuing their entrepreneurial ideas.

2. Teach them the importance of a polished image. Corcoran emphasizes that appearances matter in business, citing her own early efforts to project an image of success, even renting a more expensive phone to achieve the desired effect. When Gayla Bentley, a plus-size fashion designer, pitched her brand on Shark Tank, Corcoran was impressed by how professionally she presented herself and her company. Teach your children that presenting a polished image – whether through their appearance, communication skills, or the quality of their work – can make a significant impact on how others perceive their entrepreneurial ventures.

3. Help them develop clear communication skills. Corcoran cautions against being swayed by sophisticated language, noting that it can often mask a lack of substance. She advises entrepreneurs to communicate clearly and avoid relying on jargon or buzzwords. Encourage your children to practice articulating their ideas in a clear, concise, and compelling manner, focusing on the substance of their message rather than trying to impress with complex language.

4. Encourage them to embrace unconventional tactics. Throughout her career, Corcoran has been known for using unusual strategies to generate attention and achieve her business goals. For example, she once hired a dog trainer to teach clients’ dogs how to pass co-op board interviews, even though such interviews weren’t yet required. This innovative tactic successfully garnered media attention and positioned her company as responsive to client needs. Encourage your children to think outside the box and be willing to try unconventional approaches when pursuing their entrepreneurial ideas.

5. Teach them to turn setbacks into opportunities. Corcoran recounts a story about Donald Trump pivoting to promote his Riverside South project to investors after a deal for the Plaza Hotel fell through. While he was unsuccessful in securing that particular investment, Trump’s ability to adapt and present alternative opportunities is noteworthy. Teach your children that setbacks and failures are a natural part of the entrepreneurial journey and that the key is to learn from these experiences and find new opportunities to pursue.

By incorporating these lessons from Barbara Corcoran’s Shark Tank experiences into your homeschooling approach, you can help your children develop the mindset and skills they need to succeed as entrepreneurs. Encourage them to identify problems in their own lives or communities and brainstorm innovative solutions. Help them research their target market, develop a business plan, and practice pitching their ideas to family and friends. Provide opportunities for them to learn from successful entrepreneurs, whether through reading books, watching shows like Shark Tank, or connecting with mentors in their field of interest.

At QMAK, we believe that nurturing entrepreneurial thinking is a key component of a well-rounded, future-focused education. By embracing the lessons and strategies of successful entrepreneurs like Barbara Corcoran, homeschooling families can empower their children to become the innovative problem-solvers and creative thinkers our world needs. So, encourage your children to dream big, think creatively, and take calculated risks as they pursue their entrepreneurial passions. With your support and guidance, they will be well on their way to navigating the exciting and rewarding world of entrepreneurship.