77-Year-Old Shark Tank Investor Overcomes Self-Doubt to Embrace Confidence

On a quiet Tuesday morning in downtown Austin, the kind where the Texas sun hasn’t yet burned off the last of the night’s humidity, a group of local entrepreneurs gathered in a co-working space just off Congress Avenue. They were there for a workshop on overcoming self-doubt—a topic that, for many in the room, felt as heavy as the air outside. Among them was Maria, a 34-year-old founder of a sustainable packaging startup, who had spent the past year battling an internal voice that whispered, You don’t belong here. You’re not ready. Little did she recognize, her struggle mirrored that of one of America’s most recognizable business icons: Barbara Corcoran, the 77-year-old Shark Tank investor and real estate mogul, who recently revealed it took her decades to silence her own self-doubt—and the simple phrase that finally changed her mindset.

Corcoran’s story isn’t just a tale of personal triumph. it’s a mirror held up to the collective psyche of Austin’s thriving yet often self-critical entrepreneurial community. Here, where the city’s unofficial motto—Keep Austin Weird—collides with the high-stakes pressure of tech startups and creative ventures, the line between confidence and imposter syndrome is razor-thin. For every success story like Indeed or Whole Foods, there are countless founders who, like Maria, question whether they’re cut out for the journey. Corcoran’s revelation offers a roadmap—but it similarly raises a critical question: How do you apply the lessons of a billionaire investor to the daily grind of running a business in a city where the cost of failure feels as steep as the rent?

The Mental Tape That Almost Derailed a Career

For years, Barbara Corcoran carried a mental tape in her head—one that played on loop, undermining her every step. “My tape would say, ‘Hey, Barb, Make sure to have never been here. You didn’t need to come to this meeting,’” she told hosts Phoebe Gates and Sophia Kianni on a recent episode of The Burnouts podcast. The voice wasn’t just a passing thought; it was a persistent, gnawing doubt that followed her into boardrooms, investor meetings, and even casual networking events. It wasn’t until her mid-30s that she realized this self-sabotage was holding her back.

Her solution? She rewrote the tape. Instead of the critical inner monologue, she began repeating a new mantra: “Barbara, you’re a genius… You’re great.” At first, it felt unnatural—even delusional. But over time, the repetition worked. By the time she turned 50, the new message had sunk in. “By running it all the time, 35 to 40 to 45. By the time I got to be 50, I pretty much believed it,” she said. The transformation didn’t happen overnight. It took 15 years for the new mental tape to perceive like the truth.

This isn’t just a story about positive thinking. It’s a case study in the power of cognitive reframing—a psychological technique that Austin’s mental health professionals and business coaches have been advocating for years. Dr. Lisa Orbé-Austin, a psychologist and executive coach who has worked with clients in Austin’s tech and creative sectors, notes that self-doubt is particularly insidious in high-pressure environments like this city. “Austin’s culture celebrates innovation, but it also glorifies the ‘overnight success’ narrative,” she says. “When founders don’t see immediate results, they internalize it as a personal failure, not a systemic challenge.”

Why Austin’s Entrepreneurs Are Especially Vulnerable

Austin’s entrepreneurial ecosystem is a double-edged sword. On one hand, the city is a magnet for talent, with a lower cost of living than Silicon Valley and a business-friendly environment that has attracted companies like Tesla, Apple, and Oracle. On the other, the sheer volume of competition—coupled with the city’s rapid gentrification—creates a pressure cooker of expectations. According to a 2025 report from the Austin Chamber of Commerce, the number of small businesses in the city has grown by 22% since 2020, but so has the rate of burnout among founders. Nearly 60% of local entrepreneurs report experiencing imposter syndrome at some point in their careers, a figure that aligns with national trends but feels more acute in a city where networking events and pitch competitions are as common as food trucks.

Take the case of the Austin-based accelerator Techstars, which has launched over 200 startups in the past decade. Program director Carlos Mendoza has seen firsthand how self-doubt can derail even the most promising founders. “We had a founder last year who was on the verge of securing a $2 million seed round,” he recalls. “But in the final pitch meeting, he froze. He later told us he kept hearing a voice saying, You’re not good enough to handle this money. He walked away from the deal.” Stories like this aren’t anomalies; they’re the norm in a city where the stakes feel perpetually high.

Corcoran’s experience offers a counterpoint. Her journey from a waitress with a $1,000 loan to the founder of The Corcoran Group—a real estate empire she sold for $66 million in 2001—wasn’t linear. It was messy, filled with setbacks and moments of self-doubt that nearly derailed her. But her ability to rewrite her internal narrative is what set her apart. For Austin’s entrepreneurs, her story is a reminder that success isn’t about eliminating doubt; it’s about learning to move forward despite it.

The Science Behind the Self-Talk

Corcoran’s strategy isn’t just anecdotal; it’s backed by research. A 2024 study published in the Journal of Applied Psychology found that individuals who engaged in positive self-talk—particularly in high-stress environments—were 37% more likely to persist in their goals than those who didn’t. The key, however, wasn’t just the positivity; it was the specificity of the language. Generic affirmations like “I am enough” were less effective than tailored statements that addressed the individual’s unique insecurities. In Corcoran’s case, the phrase “You’re a genius… You’re great” worked because it directly countered her fear of not belonging in professional settings.

This aligns with what local therapists and coaches in Austin have observed. “The most effective self-talk is the kind that feels slightly uncomfortable at first,” says Dr. Sarah Nguyen, a cognitive behavioral therapist who runs a private practice in the Mueller neighborhood. “If it doesn’t feel a little exaggerated, it’s probably not pushing back hard enough against the doubt.” Nguyen often works with clients to craft personalized mantras—phrases that feel authentic to their struggles. For a tech founder, it might be “I built this from nothing, and I can scale it.” For a creative professional, it could be “My perspective is valuable, even if it’s unconventional.”

But self-talk alone isn’t a silver bullet. Corcoran’s transformation took 15 years, and even then, she admits the old doubts occasionally resurface. The difference is that she now has the tools to quiet them. For Austin’s entrepreneurs, this is a critical lesson: overcoming self-doubt is a marathon, not a sprint. And in a city where the pace of innovation moves at breakneck speed, that marathon can feel like an impossible race.

From Mantras to Action: How Austin’s Founders Can Apply Corcoran’s Lesson

So how do you take Corcoran’s insight and apply it to the daily realities of running a business in Austin? The answer lies in a combination of mindset shifts and practical strategies—ones that acknowledge the city’s unique challenges whereas leveraging its strengths.

1. Start Small, But Start Now

Corcoran didn’t wake up one day and suddenly believe she was a genius. She started small, repeating her mantra in low-stakes situations before testing it in high-pressure environments. For Austin’s entrepreneurs, this could signify practicing self-talk before a casual coffee meeting with a potential collaborator, rather than waiting for a make-or-break pitch to investors. The city’s vibrant networking scene—from 1 Million Cups at the Austin Convention Center to the Creative Mornings events at The Contemporary Austin—offers plenty of low-stakes opportunities to build confidence.

2. Find Your “Genius” Phrase

Corcoran’s mantra worked because it was specific to her insecurities. For Austin’s founders, the phrase should reflect their unique struggles. A food truck owner might repeat, “I know this city’s tastes better than anyone,” while a software developer could say, “My code solves real problems.” The key is to create it personal, actionable, and tied to a tangible outcome. Local coaches like those at Bunker Labs Austin, a nonprofit that supports veteran entrepreneurs, often help clients craft these phrases as part of their mentorship programs.

3. Build a Support System That Reinforces the Message

Self-talk is powerful, but it’s even more effective when reinforced by a community. Corcoran’s shift didn’t happen in a vacuum; it was bolstered by her professional network, which included mentors, peers, and eventually, the high-profile investors she met through Shark Tank. In Austin, founders have access to a wealth of support systems, from industry-specific meetups to accelerators like Capital Factory, which offers mentorship and networking opportunities. The city’s strong culture of collaboration means that no entrepreneur has to go it alone—but they do have to seek out the right connections.

4. Embrace the Discomfort

One of the most striking aspects of Corcoran’s story is how long it took for her new mantra to feel true. For 15 years, she repeated a phrase that felt unnatural, even false. This is a critical lesson for Austin’s entrepreneurs: growth doesn’t happen in the comfort zone. Whether it’s pitching to investors at SXSW or navigating the city’s complex permitting process for a new brick-and-mortar business, discomfort is often a sign of progress. As Corcoran position it, “It’s just funny what your head can do for you. Most of everything, I consider, plays out in your head.”

When Self-Talk Isn’t Enough: The Role of Professional Support

While Corcoran’s story is inspiring, it’s vital to acknowledge that self-doubt isn’t always something you can “talk” your way out of. For some entrepreneurs, it’s a symptom of deeper issues like anxiety, depression, or ADHD—conditions that are increasingly common in high-pressure environments like Austin’s. In these cases, professional support isn’t just helpful; it’s essential.

This is where the city’s mental health and business coaching resources come into play. Organizations like The Austin Center for Grief & Loss offer sliding-scale therapy for entrepreneurs, while groups like Entrepreneurs’ Organization Austin provide peer-to-peer mentorship, and accountability. For those who need more structured support, executive coaches with experience in the startup world—like those affiliated with The University of Texas at Austin’s McCombs School of Business—can help founders develop personalized strategies for managing self-doubt.

But how do you know when it’s time to seek help? Dr. Nguyen suggests asking yourself a few key questions: Is my self-doubt preventing me from taking action? Is it affecting my relationships or my health? Am I avoiding opportunities because of fear? If the answer to any of these is yes, it may be time to bring in a professional. “Self-talk is a tool, but it’s not a cure-all,” she says. “Sometimes, the most powerful thing you can do is admit you need help—and that’s a sign of strength, not weakness.”

Given My Background in Business Journalism, If This Trend Impacts You in Austin, Here Are the Three Types of Local Professionals You Need

Austin’s entrepreneurial ecosystem is as diverse as the city itself, and so are the resources available to help founders overcome self-doubt. Whether you’re a tech founder in the Domain, a creative professional in East Austin, or a small business owner in South Congress, the right support can make all the difference. Here’s a breakdown of the three types of local professionals who can help you rewrite your own mental tape—and what to look for when hiring them.

1. Cognitive Behavioral Coaches Specializing in Entrepreneurship

What They Do: These coaches leverage evidence-based techniques from cognitive behavioral therapy (CBT) to help founders identify and reframe negative thought patterns. Unlike traditional therapists, they focus specifically on the challenges of entrepreneurship, such as imposter syndrome, fear of failure, and burnout.

What to Look For:

• Credentials: Look for coaches with certifications in CBT or related fields, such as those from the Beck Institute for Cognitive Behavior Therapy or the International Coach Federation (ICF). Many have backgrounds in psychology, business, or both.
• Entrepreneurial Experience: The best coaches have either founded their own businesses or worked closely with startups. Ask about their experience with Austin’s specific industries, whether it’s tech, food and beverage, or creative services.
• Approach: Effective coaches don’t just offer generic advice; they tailor their strategies to your business model and personal challenges. Ask for a sample session or case study to gauge their style.
• Local Knowledge: Austin’s business landscape is unique, with its own set of challenges (e.g., rising commercial rents, competition for talent). A coach who understands these nuances will be more effective.

Where to Find Them: Check directories like Psychology Today (filter for “coaching” and “entrepreneurship”) or ask for referrals from local accelerators like Techstars Austin or Capital Factory.

2. Business Mentors with a Focus on Mindset

What They Do: These mentors are seasoned entrepreneurs or executives who offer guidance on both the strategic and psychological aspects of running a business. They help founders develop resilience, set realistic goals, and navigate the emotional rollercoaster of entrepreneurship.

What to Look For:

• Track Record: Look for mentors who have successfully scaled businesses in Austin or similar markets. Ask for specific examples of how they’ve helped founders overcome self-doubt.
• Industry Alignment: A mentor with experience in your industry (e.g., SaaS, retail, hospitality) will be more attuned to your specific challenges. For example, a tech mentor might not be the best fit for a food truck owner.
• Chemistry: Mindset work requires trust and vulnerability. Many mentors offer a free introductory session—use this to assess whether their style resonates with you.
• Community Ties: The best mentors are well-connected in Austin’s business community. They should be able to introduce you to other founders, investors, or resources that can support your growth.

Where to Find Them: Organizations like SCORE Austin, Bunker Labs, and the Austin chapter of the Entrepreneurs’ Organization offer mentorship programs. You can also find mentors through local networking groups or industry-specific meetups.

3. Executive Therapists with Startup Experience

What They Do: These are licensed therapists who specialize in working with entrepreneurs and high-performing professionals. They address the mental health challenges that often accompany running a business, such as anxiety, depression, and ADHD. Unlike coaches, they can diagnose and treat clinical conditions, making them a good fit for founders whose self-doubt is rooted in deeper psychological issues.

What to Look For:

• Licensing: Ensure they are licensed to practice therapy in Texas (look for credentials like LPC, LCSW, or PhD). You can verify their license through the Texas Behavioral Health Executive Council.
• Entrepreneurial Focus: Ask about their experience working with founders. Do they understand the unique pressures of entrepreneurship, such as financial instability, isolation, or the fear of failure?
• Approach: Some therapists use CBT, while others may incorporate mindfulness, somatic therapy, or other modalities. Ask about their approach and whether it aligns with your needs.
• Accessibility: Entrepreneurs often have unpredictable schedules. Look for therapists who offer flexible hours, telehealth options, or sliding-scale fees.

Where to Find Them: Directories like TherapyDen or Open Path Collective allow you to filter for therapists with entrepreneurial experience. You can also ask for referrals from local business groups or accelerators.

Each of these professionals offers a different entry point into addressing self-doubt, depending on your needs and budget. The key is to find someone who not only understands the psychological aspects of entrepreneurship but also the unique challenges of building a business in Austin. Whether you’re battling imposter syndrome before a pitch at Capital Factory or struggling to scale your business in a competitive market, the right support can help you rewrite your mental tape—just like Barbara Corcoran did.

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