It's been a very serious time here, as we all swim with the sharks. And all of us took a chance, going before the expert entrepreneurs on the hit show "Shark tank." Not on the show. On our show. But... See More
It's been a very serious time here, as we all swim with the sharks. And all of us took a chance, going before the expert entrepreneurs on the hit show "Shark tank." Not on the show. On our show. But they were all there. An original idea for a product. George, you did great with your dad-tionary. I did great. Amy did great. I did great-ish. I loved your mat. Your dog paws, squeaky clean. Ginger had fiery filanges. Sticking with filanges instead of fingers. It's my turn. I had a blast concocting my idea. Things got real, though, when I met with the sharks. Meet the sharks. Mark Cuban, entrepreneur, media mogul and owner of the Dallas mavericks. Barbara Corcoran, real estate mogul. Kevin o'leary, venture capitalist and software mogul. Lori Greiner, entrepreneur, queen of QVC and author of "Invent it, sell it, bank it." Daymond John, founder and CEO of fubu, fashion and branding mogul. Next to swim with the sharks, Lara Spencer, who dreamed of combining three of her favorite things is coming through. Islands, tea and strong cocktails. There's nothing better after a game of tennis, than a refreshing glass of iced tea. And I'm not alone. Sales of ready-made iced teas have been growing 7% annually, making it a $4.8 billion industry. That got me thinking. Why not combine all flavors of iced tea with a nostalgic cocktail? I have many woman in my corner, skinny girl guru bethenny Frankel, who created an empire in the process. I grew up on Long Island. And my friends and I call it strong island. Strong island iced tea. That's good. How important is the name of the brand? Is it everything? The name of the brand and the logo, both are so important. I have a map of Long Island I found at a yard sale, that was these colors. This is from the '50s. That was my inspiration. This says summer to me. I like this. When I look at this, I see strong island. Like it's another place. It looks like a nantucket thing. It makes it less like long Island. There's not a drop of iced tea in it. Just a lot of liquor, a lot of sugar and a lot of calories. Our goal is to create a premixed low-cal version, with half the sugar, half the hangover and no artificial sweetener. What if lemon juice and lime juice and got rid of the simple syrup? Getting there. All this inventing. I need a nap. Hi, everybody. I'm Lara Spencer. And as you just heard, I'm the creator of strong island iced tea. When I go out with the girls for a cocktail, I'm looking for something that tastes delicious. But I don't want a lot of calories. I don't want a big hangover. And I don't want to have just vodka on the rocks anymore. It gives you a buzz. But it's not going to give you a massive hangover that the classic Long Island iced tea is known for. This is a sexy brand. You're on an adirondack chair. You're laughing with your girlfriends. It's refreshing. And it's a big business. Nobody knows that better than this gal. I was smart enough to make her my adviser. She broke into the business when she changed the way we look at margaritas. With bethenny's advice and our mixology, we were able to get that down to less than 200 calories in a Long Island iced tea. And it tastes delicious. This is a modern twist on an iconic classic. I have to drink some. Would you like a cocktail, anybody? I would. I loved Long Island iced teas when I was in college. I had a feeling. And I gained a few pounds along the way. I bought the website already, strongisland iced tea. You're serious about this. How far are you in the process? Because I had the opportunity to meet with you, you guys have pushed me along. Long Island iced state is a wonderful drink. But it could be infused with peach, with raspberry, in the winter months, pomegranate, spice. Because we're sitting next to Kevin o'leary, we're all alcoh alcohol alcoholics. How many calories? It tastes sweet. There's no artificial sweetener. Here's what I think the reality is. The strong island, that's a great connection to you being from Long Island. That's great. To everybody else who doesn't understand that, it's just going to be how strong the alcohol is. And that's going to work everywhere. That's good. Now, the moment of truth. The sharks will hand out scores from one to five. I think you have a 5. You have a viable idea. You were very smart to bring a distribution partner to the table that's done it before. It's hard to get distribution in this business. But I tried the product. That's the first test. It was excellent. My score's contingent on getting that babe as your partner, bethenny. What do you think? Should I make it a 5? I think you should make it a 5 because I'm going to give her all of the advice and all of the connections. And I am a woman who pays it forward and helps other women. And I want her to succeed. It's still a 4 if she's not your partner. I give Lara a 5 for strong island iced tea. It has a chance to be huge. And with your connection to bethenny, she can help you get there. That's a win-win combination. I'm going to give you a 4. I think you have a good idea. Your whole sexy thing about it. That's the vibe that brought you to wanting to do it. I think you have a shot here. The liquor company's biggest problem are to get females to drink. When females are drunk, guys come around. I think it's a 5. Thank you so much. They enjoyed it. I know. They're still drinking it. It was great. It was awesome. You're amazing. Thank you. Thank you. Thank you. You brought it to new heights. 23-plus so far. That was a great idea. And it came from such a deep place. No more vodka on the rocks. Poor Lara. Saleswoman. You were. It's the drink of the islands. Bethenny Frankel, amazing, thank you. We used her skinny girl stevia. Her vodka. She has all different flavors. She is genius. And I love women helping other women. Let's look at the scores right now. For strong island iced tea, two 5s. The final score, 23-plus, for strong island iced tea. Lara is way in the lead. I can't wait to try it. I need to test it out. I've been dreaming of strong island iced tea for years. To make it a reality, yay. We want to know what the viewers think, too. Vote for which product you like the most. Our sponsor, Dell, will donate $25,000 to two nonprofits that help small businesses and entrepreneurs. Weigh in on our "Gma" Facebook page. Our products have thousands of likes so far. Only one more spot on the leaderboard. Can't wait to see robin's pitch next week. Robin, a heard a little bit, really good. Sharks, thanks. You can see "Shark tank" tonight, ABC, 9:00 eastern.
This transcript has been automatically generated and may not be 100% accurate.