Women of 'Shark Tank'

Female "sharks" say they have a secret weapon that their male counterparts do not.
7:14 | 10/24/13

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Transcript for Women of 'Shark Tank'
Who will be the next steve jobs, mark zuckerberg or invent the next gadget. In the shark tank it is sink or swim for entrepreneurs looking to lead the big fish with the big bucks. The female sharks are catching up. You might say they're hot on the trail of blood in the water, will they bite? Here is abc's cecelia vega. Reporter: It is feeding time in the shark tank. You walk into the shark tank you look for the sucker. If you don't see one it is you. Enter with a half baked idea for a new business. Yes, I am. I can't take any more. I am out. I want to do this face to face. And get eaten alive. Worst presentation ever. I'm out. That was mean. Some times, entrepreneurs on the hit abc show come armed with the perfect recipe for success. I'll make you a millionaire within a year. Whoa. Reporter: Okay, this is the famous hallway. This is where the entrepreneur walks down the hallway. The doors fly open. And all of a sudden, you see -- myself and my fellow sharks up there ready to either -- make them rich or make them cry. Reporter: Shark tank captured the essence of the american dream. That everyone is just one good idea away from striking it rich. My offer would be -- 50/50. We accept your offer. Reporter: It has paid off. Very clever young women. Reporter: Making the show number one in its time slot with record ratings this season. Do you really think the next steve jobs or mark zuckerberg could walk through the doors? You have no idea. Who knows? You never know. Reporter: In the real world the stars of the show are pretty big fish. Millionaires even billionaires in real estate, fashion and finance. Ruthless in bleeding out the million dollar idea from those that won't make a penny. You wake up, and say, I want goats. Why? I graduated college in 2009. You thought goat? This is no game show, real money, their own money. The stakes are high. As I found out on a recent visit inside the tank, these sharks are cutthroat even when the show's cameras aren't rolling. They're very nice and timid when they're not negotiating. After that they can turn on you easily. Who is the best negotiator? I am. Of course. Reporter: Who makes most risky decisions? Barbara. No way, don't blame that on me. It's papa warbucks. Reporter: The two lady sharks on the show are barbara cork ran, and queen of qvc, lori grenier. They have a secret weapon the male sharks don't. We have a different perspective. Most of the men have trophy wives. Wealthy men the they don't shop. They don't buy their kids clothes. They probably don't shop for groceries. We also bring friendship to the women that step on the set. I think that I bring compassion. I understand what they feel like. So when the entrepreneurs come into the tank, I know what it felt like. You two are very much like my husband and myself. I completely understand both of you. I get you. Reporter: For the first time ever in the show's five seasons, the two female power brokers are battling in the shark tank at the same time. We sort of level the playing field by having two women on the set. You know what really happen, barb. Not exactly. It's not a fair fight. Two women. Three men. Not a fair fight for them. More than fair. Because our combined i.Q. Is three times more than the men combined. Reporter: Whatever the secret is to building a brand these women have figured it out. It is about maybe, two minutes until show time. She hold 120 patents and sold half a billion dollars of her swiveling jewelry organizers, nesting cosmetic containers and storage simplifiers. My very first time on qvc. I was scared to death. In that one moment you could make it or break it. Reporter: She used qvc as a launch pad not only for her own products but the shark tank businesses she invested in. Everybody has said to me, lori, a happy sponge. My kids love it. Reporter: The yellow sponge. Scrub daddy. I think scrub daddy has potential to be $100 million. Barbara corchran made millions in real estate in new york city. What a great space. Reporter: Now on the hunt to buy her dream home in manhattan which might be this $14.5 million penthouse in the sky. Unbelievable. Reporter: She earned it. But says that to get ahead as a woman in the male dominated board rooms of america, you have got to play up your assets. I wore short skirts. Makeup on. Flirt like crazy with the men. I get to them that way. Reporter: An asset or hindrance? I always use the sex card. Always. If the men are in suits, kind of boring, same old tie, same old shirts. I wear the sexiest outfit i could find. Reporter: She sold her real estate company years ago for $66 million. Welcome to the family. Thank you. Come on over! Caller: Barbara's biggest business coup on shark tank was investing in cousins maine lobster. Awesome since shark tank. Before we went on $150,000 in business. Ever since, $700,000 in sales. Reporter: Barbara and fellow shark lori share the spotlight on the show. But the sisterhood of sharks only goes so far. They're ready to battle it out if the deal is right. I want to clarify one thing. What lori does well is she sells product. What I do well is I build power brands. And I have done it with every business on shark tank. I built a $500 million power brand. Yes, of course. Like a gunfight at the ok corral. Reporter: They may be competitive, but are quick to defend the budding business of women when the male sharks start to circle in. Lady, I think you are two beautiful women. When you put the cap on, you look like 80-year-old grandmas. When the guy is like, let me tell you little girl from up here. Let me tell you how to do it. A tone that clicks in. Drives me crazy. Always, run to their defense. I will jump in. I am more protective of the females if that happens with the male sharks. Reporter: In the shark tank big mama fish are making room for the next jen rationgeneration to cut their teeth. Reporter: Will you cultt a woman a break? I am tougher on women. Tougher on any one to use an excuse to not get ahead. I had a million excuses I could have used and chose not to use them. Reporter: For "nightline," cecelia vega.

This transcript has been automatically generated and may not be 100% accurate.

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