⚡ Get All Content for 20% Off ⚡

Want Your Kid to Be Successful? Shark Tank's Barbara Corcoran Says You Should Do This. The millionaire mom of two says the first step is not to step in too much, especially when it comes to getting good grades. Also, let your kid fall so she can learn how to pick herself up.

By Kim Lachance Shandrow

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Back off, helicopter parents. If you want your kid to grow up to be a successful entrepreneur -- or to realize her career dreams at all, whatever they are -- the best thing you can do is "take the pressure off," Shark Tank star Barbara Corcoran says.

"Ignore what they don't do well," the millionaire mom of two recently told Entrepreneur.com on the Shark Tank set. "Instead, stay totally focused on finding what your kid does well and let them do a lot of it. They'll be better and happier for it."

And, while you're at it, smothering Moms and Dads, stop nagging your child to get good grades already. Corcoran, who has dyslexia and admits that she was a "lousy," straight-D student all through high school and college, made a point of never hounding her son Tom about scoring high marks. He's now in his third year at Columbia University and faring quite well.

Related: How Being Dyslexic and 'Lousy in School' Made Shark Tank Star Barbara Corcoran a Better Entrepreneur

"I told him, "You don't have to be a good student. Take your time. What the hell? Try this. Try that. Move around.'" The result? "A well-rounded creative kid that's always going to be himself."

To help your child learn, grow and come into their own with confidence, let her "experiment, make mistakes and recover, and don't narrowly confine them the way that school systems and society does." In other words, let your little one fall so she can learn how to pick herself up.

The diner waitress turned wildly successful serial entrepreneur also said her "top four [Shark Tank] entrepreneurs" were all "lousy in school, too." Being the "dunce and the out-man" prepares kids for the challenges of business, she said, because it teaches them first-hand how to cope with and bounce back from rejection.

Related: Mastering the Juggling Act: 4 Successful Moms in Tech

"When you're not good at school, you're comfortable out there on the skirts," she said. "You're used to it. It's like breathing. You get good at rejection and you don't feel sorry for yourself when something goes wrong."

Entrepreneurs who didn't endure academic challenges, who had high-pressure parents and high grades to please them, are often more likely to "fold and feel bad for themselves," she said. "While they're busy feeling sorry for themselves, the world is going by."

You can watch Barbara coach, accept (and reject) entrepreneurs of all stripes on the sixth season of Shark Tank, which kicks off from 8 to 9 p.m. ET/PT this Friday, Sept. 26 on your local ABC station.

Related: How to Rock the Cradle at Home and Work? Realize That a Perfect Work-Life Balance Is Impossible

Kim Lachance Shandrow

Former West Coast Editor

Kim Lachance Shandrow is the former West Coast editor at Entrepreneur.com. Previously, she was a commerce columnist at Los Angeles CityBeat, a news producer at MSNBC and KNBC in Los Angeles and a frequent contributor to the Los Angeles Times. She has also written for Government Technology magazine, LA Yoga magazine, the Lowell Sun newspaper, HealthCentral.com, PsychCentral.com and the former U.S. Surgeon General, Dr. C. Everett Coop. Follow her on Twitter at @Lashandrow. You can also follow her on Facebook here

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.