As a businesswoman who has built her empire from the ground up, Barbara Corcoran has the authority when it comes to investing. After meeting thousands of investors both on and off the show "Shark Tank," she isn't easily impressed — but she knows what she's looking for.

She told CNBC, "I'm always looking for the same trait, the No. 1 trait. I'm looking for ambition. Someone who envisions where they're going, and I fall for it when they tell me they're going there."

The businesswoman's answer hasn't seemed to change even over the years. In a 2016 Forbes interview, Corcoran was asked what she looks for the most when investing, and she said, "Is the entrepreneur capable? Can they hit the finish line? 60% is gut reaction and 40% is asking the right question." In the end, it does not matter how good the product is — if the drive to succeed isn't there, there's no way she's going to invest.