'Shark Tank' Shark Kevin O'Leary Names His Top 5 Sales Techniques

Part 1: For the '20/20' Sales Challenge, Kevin O'Leary trains college students in the art of the sale.
9:21 | 10/03/15

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Transcript for 'Shark Tank' Shark Kevin O'Leary Names His Top 5 Sales Techniques
I did a great investment with M need mohare tn two people no, we're fine. Straight-up equity. Ou go e,therca San I Y something? Are you in? Well, we'd love to hear what Barbara has, I would like to say something. I erpref mark artner because he has got mes as much money than all the ot I've done very well with mark, even though we sometimes fight on here. Yes. We have a real offer -- $600,000 for 25%. Do we have a deal? Corcoran: The truth of the matter is, I'd be happy to take my most favorite partner in on the deal or even Lori, okay? Said to me, "You've gotta get down with a knife and scrape all the gum out." I said, "I'm not gonna wash the floors. I'm a scooper." And she looked at me and said, "You're fired." I would never work for anybody again. Reporter: Now, they're working for him. And tonight, the guy who went from scooping ice cream to building a $4 billion company -- I have enough to get by. I'm okay. Reporter: Will show you how to sell stuff yourself. Welcome to "The 20/20 sales challenge." Reporter: Because if you can sell this, you can sell anything. I love it. Reporter: And throwing them into shark-infested waters to close the deal -- or else. I'm sorry. Reporter: Tonight, who bites? And who just bites the dust? This is where the rubber meets the road. Tonight, teaching you how to sell yourself. Passing on the hard-earned secrets of the sell. And you can be alert for when they're used on you. Here's ESPN's Hannah storm with the play-by-play. Step into the elevator. Toes to the yellow tape. Okay, we're rolling, rolling. All right, let's go. Reporter: We ask college seniors who are about to hit the job market to sell their most important commodity first -- themselves. You got it. Reporter: -- In the time it takes for an elevator ride, otherwise known as the "Elevator pitch." Why should you choose me? I have a lot of energy. I'm a really big go-getter. I'm relentless. Definitely driven. You can never beat the man who doesn't give up. People say it's a man's job, but guess what guys? There's a new girl in town. Reporter: A lot of kids graduating from college. How critical is sales for them? Every business has sales. If you have no sales, you have no business. You go bankrupt. Reporter: In the end, six stand out and become our sales challenge semi-finalists. Hi, my name is Ashley. Michael. Natasha. Zack. Mallory. Tommy. Reporter: Time to meet the sensei of sales. Welcome to the "20/20" sales challenge. Please have a seat. Reporter: Our shark, Kevin o'leary, leads a sales boot camp and shares his secrets. We're going to learn how to sell. Hardest job in the world, most rewarding job in the world, and the only job that you can measure every day. Reporter: And in this class it's pass or fail. I've gotta tell you the truth -- I'm only picking three of you. 50% of you are gonna be dead to me in a few minutes. Reporter: Kevin teaches his ark is working overtime. Reporter: He's tough. Who cares? Reporter: He's brash. An tonid T, "Ghark shtank"'s Kevin o'leary is getting in your face, to teach you his top five secrets of the Don't cry. Be a man! Reporter: You heard him. "Mr. Wonderful" is taking no pris Business is war. Walk on. And go home and hug my kids. You've been said toe havall it's a persona he forged at an early age. My first job was to scoop ice cream. The woman wh don't pick up. I can speak pretty well. Reporter: Hone that "Perfect pitch." Don't dribble on. Capture your audience immediately. Communicate your vision for why the product belongs in their hands. That's the perfect pitch. Reporter: Kevin's fourth technique, "Be kind, not nice." I don't trust nice people, all right? I don't believe that someone can be nice all the time. Every product has its merits and its downsides. Don't lie about a product as if there's no problems at all. Create that bond of trust. That's paramount. Reporter: And finally, "Be sticky, not gummy." Gummy people just keep going after the sale and wasting everybody's time. You have to make a decision whether they're ultimately gonna buy from you or not. As soon as you understand that they're not, don't waste your time. Cut them loose. What are typical body language signs that -- okay, they're definitely not interested? If they step back from you, first -- that's a negative. If they don't stop and you're chasing them as they're walking, that's not good, either. Reporter: Those are Kevin's sales techniques. Now they must learn the product from a quirky Boston cupcake company that o'leary invested in on "Shark tank." We came up with the idea of shipping them in a jar. Our jars are baked fresh daily. We layer them with frosting, shipped in gift boxes so they're ready to eat from the package. Reporter: What was it that you saw in wicked good cupcakes that made you wanna invest? Could we take a commodity -- and there's nothing more like a commodity than a cupcake, anybody can make one -- and make it the fastest-growing cupcake brand in America? Reporter: And today those cupcakes will be the currency separating the winners from the losers. Let's do a little role play. I wanna get a sense of how you're going to sell, okay? Let's start with you, Ashley. Would you like these amazing cupcakes? I mean, the flavor is just so out of this world. How much is it? $5. $5 for a cupcake? Are you crazy? All right, tommy. What do you do about the price objection? "Five bucks? Are you out of your mind?" It's the fastest-growing company in America, without a doubt. It's the fastest-growing cupcake company in America? Let's not lie to anybody. $5, I don't wanna buy it. Mallory? It's a reusable jar. You know, it comes with a spoon. It's easy to eat on the go. Natasha, you've convinced me. I'll buy one. What are you -- what are you gonna do now? Why don't you buy two for your significant other, your child? They're gonna love it. You can give it to your friends. Great gift. Is there a specific target market that we're trying to target? Your target market is anyone with a mouth, all right? Michael, what are you gonna do when somebody says, "Look, I have no time. I'm really, really busy. I can't talk to you"? You can maybe come by later. We're still gonna be here for the rest of the day. No, you want to make the sale right there. There's no, no future. When they walk away from you, they're gone forever. Zachary, I'm not interested in the cupcake. I don't want one right now. Is that so? Top five sales techniques that guaherantees can work for anyone. First, "Walk the walk." Great salesmen and women understand it's their destiny to be a salesperson and to be great. In that armor. That's called walking the walk. Reporter: Next, "Feel the love."to love the product you're selling. You have to have an emotional bond with it. It has to be oozing from every pore that this is the greatest product you have ever sold. Reporter: And remember our elevator challenge? You should me B I it's so tough. Michael, you're gone. Thank you. Good luck to you. Zachary, you're gone. I'm sorry, my friend. It's okay. Good luck to you. Thank you very much. All right. Now the hard work begins. Let's start by meeting wicked good cupcakes. Tracey, Dani, come on in here. Tracey and Dani created this company from scratch. Congratulations! How exciting. Thank you. Thanks. Every jar has two cupcakes inside. All across America, this product sells for $7.25. What are you gonna let them sell it for today? $5. So, that's a great discount. Huge selling weapon. You need to be able to say our product name correctly. It's a cupcake in a "Jaa." Can everyone say -- Cupcake in a "Jaa." Each of you is getting a wicked good cupcake apron. Reporter: Having equipped the contestants with all his knowledge, Kevin has them dress for the part. And, of course, a chef's hat -- to prove that they're freshly baked. All right? You have everything you need. You know about the product. You know about the five pillars of selling. You've got your outfits. Let the games begin. Get out there and sell.

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

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