Shark Tank Secrets | Real Biz with Rebecca Jarvis | ABC News

hey everyone I'm Rebecca Jarvis happy Friday welcome to real busy you this week from my office and I'm about to take off on a shoot but first take a look at this conversation I had earlier in the week with the sharks we have Daymond John and Mark Cuban and then do we have mr. wonderful on the line because they're O'Leary Kevin are you following this countdown clock or the numbers too big for you Wow I'm following it don't worry I don't miss a thing having so much fun already we were before we had Kevin on but this let's go we have a little game called Shark Tank secrets first question who has lost the most money on a single shark tank investments salmon's Kevin no sorry there you go sorry there okay mark oh you think it's mark tell me what's the investment so it's all crap together toy guru that was yelling is that it Kevin yeah toy guru is a dog we still we do got a barn a shot at don't what how much money did you lose $100,000 $100,000 did and I did it with Kevin what is the investment where you made the most money oh my goodness I've got so many of them yeah I guess red dress I just saw red dresses numbers and they're up to 15 million in sales this year and a couple of million dollars in profits yeah my now babe al Bubba bacon boneless rib very hard to say they're selling 25,000 a minute on QVC we believe that the next two years will probably do about two hundred million twenty five thousand ribs in a minute $25,000 worth of ribs per minute on QVC and then we believe that we'll get it to 200 million over the net two years kevin is everything okay where you are I'm hearing some sirens yes it's just Rica's I have the sire I have the sirens special I'm the only guy that sold a company so far fourteen and a half million bucks groovebook selling that to Shutterfly so I think that was a cool up I remember sirens were looking for him to pay the taxes on that but which one of you is the highest maintenance oh wow Kevin Kevin no both of you were saying Kevin why he talks about this wine membership that he has with the old shine a mint on his pillow wherever he sleeps I mean what oh he's got to have people following him around he's got this little guy named Alex that just follows him around everywhere goes yeah he has a hairstyle the end though here so this guy is bad Kevin who's this little guy named Alex in Beverly listen out everybody has an Alex Alex actually hits the hard work done you know one of the things about Shark Tank is we all have dozens of companies now and Alex runs o'leary ventures so he actually stays in touch does a lot of the background work he's doing a great job for me wonderful god I don't know there was a reason they call me muster wonderful because I am wonderful it's true who talks the most damn it no problem Marc said okay so everybody's in agreement here on Marc hello hi Kevin I have Kevin well okay you think Kevin what do you think Kevin Damon not because he does you always has something to say even you know you're not supposed to say things when it's not nice but he says it anyway and then you're always trying to find out how to get a royalty so he's just always thought who spends the most time in here in makeup nobody here I don't have any hair I show up okay so yeah I don't know so the way it works is we go on set and we start shooting what time 8:30 yeah and they just bring deal after deal after deal we don't shoot the episode we do shoot one deal after the next and the deals go anywhere from 30 minutes to two would have hours right but I showed Kevin show what time you show up Kevin before we have to be on set how long before like three hours before see three hours no I look you know let's mark you got to tell the truth the reason either Cyril is you actually don't have any hair you look like yeah but mark never once wear it so we have to wrestle him down every morning to put on the side I show up three minutes before I run into my trailer I put on the same clothes I put on every episode run to hair and makeup they touched me up and then I'm on these guys Kevin takes four hours of makeup to fix that Mark barber gets in the night before yeah okay we can't talk about any of the Sharks who are here in fairness oh yes we will we're not bear-free to be fair Kevin well it's true barbers are there now for next season there's I want to talk about pre-show rituals because you were telling me that you guys have something what do you guys do ahead of the show that's what you do you go all the way down pass it down the road started the day and then the producer clay comes around and gives us a whoohoo and a pound and so every day before we start the show and how about this song you were telling me there's a song you all sing Kevin do you do you think you could sing the song for us I said hip hop hippy to that heavy come on keV yeah that's pretty bad for you to the rhythm of the boogie and beat yeah mike is my man Hank come on Hank singing my song check it out I'll built the pit the ladies pimp the women fight for my life I want to go to some Twitter questions because a lot of people have been asking us a lot of questions for you guys and Kyle Elias asks what do they actually write down in their notepads this is what everyone wants to know you all have those notepads every show I write down what I could say nail Kevin no no literally when they walk in we know nothing about them except their first name and so we have this you know what's the deal you know 10% for $100,000 and then as they start talking you know writing down their names the you know you know what what's good or bad about the company percentage-wise what I'm gonna have a lunch and all that so here's another here's another secret right so there's times when you walk they walk in right and there's you're thinking there's no way yeah right no way and so you kind of tone out a little bit you think there's no chance that all of a sudden they say something that gets your interest what was their deal is like 20% for how much yeah yeah that's the hardest part about Shark Tank going out because you're looking at only the four or eight minutes but sometimes we're there two hours on a pitch words don't have is about 45 minutes I say a pass yeah and so you're gonna forget it after 45 minutes of seeing nine people that day straight how about any of you ever apologized afterwards because some of these you're with the contestants you could say some pretty I guess mean nasty things to them about their companies okay yeah I'm only gonna say something mean if I think they're scams right okay if they're scams I will torch them we never see them again usually but I did apologize for one person I was really really mean to a woman and because her husband didn't come on the show and I found out that he just had didn't have clearance and I thought later on and it looked like he just said go ahead honey I don't want you to know about what I do you know a computer I asked what is the least fun thing about being on shark tank sitting next to Kevin I would say the hardest part probably is when like I said there's a dealer there's just no chance right there's just something news do it and you have to like sit there and pretend you're paying attention and yeah if you think there is and you're paying attention yeah if you're really gonna be out and but you still have to listen the barber of course who buys everything she's gonna keep asking questions you never liked a barber just let him go please just let him go all right just let's get on to the next deal so yes so that happens lots of times where it'll be a lot but every now and then be like shut up let's get this over with you're not doing anything let's everybody's out let's go let's move on yeah well that's the only time maybe we're we're mean we'll say everybody's out yeah one see you later good luck they won't leave you ever store up responses like do you have comebacks that you're waiting I write I have a whole list of them cuz I begin what's on your their greatness that's yeah that's underneath my note that when I go old this is perfect oh yeah all of them ahead of time I never get to go back to them but when I remember I go I like they use that guess who's back Kevin Kevin is back again tell a friend back Kevin I kind of want you to respond to this next Twitter question because we got it from Terry Oldman and he said human should run for president what do you think about that you know I think he should do that there's no question about it and while he's at it you know I think think about it this way marks very opinionated guy he might make a great president we already know right now there's all kinds of non-conforming people not outside of Washington getting a lot of traction so maybe if you think about mark versus Trump that should be one heck of a show I already said that but he's Canadian and he can't vote mark would you ever do my kids are too young it'd take too much time what about when they're older maybe look really yeah maybe but my oldest is only 12 so we got my anything so what do you have like 18 years to make a decision yeah I got plenty of time right good deal Chelsea Moreland asks how do you take some of the ridiculous ideas seriously and question as if you would be making a deal yes they're not there's nothing we do this if you look at all sure yeah you look at oh wait somebody said I'm going to take a blank and cut two holes and call it a Snuggie we would say that's crazy you want to respect the entrepreneurs there's somebody who put their whole life into this they've come all the way to LA and they're laying it on the line and so if they've got the guts to do that you want to respect it yeah Kevin that's a great point though you you have no idea yeah well you know earlier you talked about that little piece of crap sponge I thought that was garbage and look at it it's huge so I have a lot of respect now because the shark tank platform is a massive consumer platform so any just because you don't like a product doesn't mean the market doesn't like it and I've learned to respect people's ideas because you never know what's gonna work we've been amazed that the things that have gone on to shark tank and just blown up huge yeah squatty potty and all those type of things yeah well my favorite thing that helped out that thing that you train a cat remember that product that you put a cat on shadow and go to the bathroom the cat sits there on the toilet and you got to wait till uh he's done like that Ruby sold a lot yeah perfect ready for some rapid-fire questions Kevin are you ready I'm ready okay I want to start with you Kevin what's been your biggest money mistake in life not listening to what my stomach said about a deal and going against it was the way I lost the most money you've got to listen to your intuition it's telling you something that's your combined experience being your friend and when you don't listen to it you always lose money do you remember a time where you didn't listen to your gut and how much did you lose I lost about a quarter of a million dollars putting more dollars behind a deal I knew was bad and that's a mistake you learning to try and only do that once and I you know I remember exactly what happened now when I teach young cohorts I spent a lot of time teaching young engineers I try to turn them into entrepreneurs I give them that example I say guy listen to your gut if you're an entrepreneur you'll know when it's right and you'll know when it's wrong guys biggest money mistake I don't mind making mistakes you know I'll learn from as long as my wins or big wins and you know that's happened a few times and my losses aren't too bad about the perfect example the guy who started uber Travis I funded his last company and so he came to me and said look I'm doing this thing called uber cab do you want to get involved like yeah you know you got to worry about this this and this let's discuss it by the time I was ready to discuss you don't we found other people to invest so that was probably my biggest miss yeah mine's pretty similar to Kevin's theory of trusting your gut I lost six million and a deal call Heatherette I also came out with FUBU records and lost about 3 million but more importantly I thought that I can just hire the right people and they were anybody and I didn't need to roll up my sleeves and really take a look under the hood and once you do that everybody you hire the salesperson the person they're selling is you you know I need another check I need you then we need to do this so that those are the two mistakes that I made and now I've learned that money doesn't solve it all you have to roll up your sleeves no matter what absolutely and that applies to everything every my opinion every sort of complete this sentence Damon you should never waste your money on never waste your money on buying a bunch of people you think can do something credit cards if you don't if you have everybody dead you don't want to be rich right because you're just getting dinged for eighteen percent all the time and you're falling further behind so that's always if you're starting a company swag did you ever wear swag that people give you people give you something all the time to write this t-shirt that that you know polo that's always just thrown away but I'm saying the same thing regarding when you start a company don't go and hire a PR person and higher than right you're the person don't think oh you know what I have some money I'm gonna spend a hundred thousand one of the main reasons that small businesses fail is over funding actually they go and take out too much on credit cards in the house at all and they'll roll this leave they get into the business cuz they hire people who will just they think they're gonna do it better than them and nobody's gonna do it better you all right don't you know listen you need to hire a heart surgeon I get that don't try to do that yourself but other than that do it yourself Kevin what do you think people shouldn't be wasting their money on every time you try and think about when you buy something that's taking cash that you can't get back and what I found is people buy about 33% of the stuff they buy all day they don't need look in your closet all the shoes you never wear all the suits they're hanging up you have a warning years there's a lot of junk you don't need and I really find that if you question yourself just before you pick it up say do I really need this the answer two-thirds of the time or half the time is no and that's one of the best ways to save money when you're young is don't spend it just Park it somewhere let it accrue that's what I'm all about I tell people look every dollar you kill by buying something you're going to throw out in three months is money that could be making interest and dividends for you for the rest of your life think about that totally agree or you can invest in yourself educate yourself the wrong use lawyer you can live like a student the better off you're gonna be so smart how about the one that got away what was the investment on Shark Tank that just you think about it and it's you know the crazy thing is once you shut off and you go out and you're done with it you know you don't know where pay attention to it you know unless they do an update on the show I have no idea I don't believe there isn't either get away from any of us because an investment with a shark is like the perfect marriage you know something that mark is very successful in doesn't mean that I would be successful in because you look at Lori she buys the stupidest things in history on the show but she did I think 70 million with a little stupid-looking spawn she did 6 million with a little thing you put your eyeglass here I would have never been able to do that because I just didn't see the difference that sponge is amazing anyway I've got one in my kitchen and I love it and that's why I hate Lori are there any product speaking of sponges are there any products that you guys have invested in on the show that now are a part of your everyday lives oh honey honey I like what bombas my bomba sucks I wear them all the time I have this weighted vest my tighten vest I use that all the time on Echo Valley meats I give out for gifts for everybody oh my gosh you know the cute flex that I use to scratch my back that's in my office I mean I use it by investing dude wipes dude wipes I mean they're in my bathroom now are there any products you want to plug I've got all I've got a whole frigerator full of wicked good cupcakes here anybody comes to my office knows about that thing and asks for one every flavor we make sitting right in the fridge those cupcakes - he makes the best gluten-free cupcakes ever I don't want to give Kevin a compliment but these cupcakes are made that's kind of the perfect segue to my next question because I was wondering if you guys work out you all do like in the gym yeah oh yeah yes okay so what can you bench - I haven't tried to bench in a while because of my shoulders bench last last time I really went hard for it I hit 300 300 yeah I use it when I was a kid now I don't want I'm not trying to prove anything to anybody so I do about a hundred and fifty and high reps Kevin I do 350 calories on a Precor bike while I'm watching an Asian and bond market news in the morning at 6:00 then I do a bunch of yoga for half an hour and I try and walk 12,000 steps before I start drinking my own whine at about eight o'clock at night how do you track your steps Kevin what are you wearing on your wrist or your phone I'm covered in all kinds of electronics that track my steps I don't want to give them free advertising because I don't own their company I use two different devices one one that tracks my sleep and one that watches my steps and I really think these things are good because what I've learned is if you eat really late at night and you drink a lot of wine you don't sleep very well show how much sleep do all of you get probably five six hours yeah I get about four yeah we're getting about five hours on average at night that's it and I try and snooze in the limo on the way to the set every day for twenty minutes yeah would you tell this is where this show gets really exciting because it's a we're about to get down to business by the way Mark Cuban this is exciting to have everybody here it's a crossover game for anything so the first thing will be bending down to be on camera Argentine tango out in the bar way no I didn't say that you can dance 37 hours to go my friends so let's do this let's get to Rebecca Jarvis and Mark Cuban next

Channel: ABC News

Views: 464,365

Keywords: Shark Tank (TV Program), American Broadcasting Company (TV Network), Rebecca Jarvis (Award Nominee), Daymond John (Organization Leader), Mark Cuban (Organization Founder), Kevin O'Leary (Organization Leader), Barbara Corcoran (TV Personality), Sharks, Invest, Investment, Good Morning America (TV Program)

Id: dTqVVFcpkOs

Length: 19min 11sec (1151 seconds)

Published: Fri Nov 20 2015