Shark Tank Secrets on Real Biz with Rebecca Jarvis

Episode 67: What happens between the deals on 'Shark Tank'? Rebecca Jarvis gets the inside scoop from Mark Cuban, Daymond John and Kevin O'Leary
18:17 | 11/20/15

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Transcript for Shark Tank Secrets on Real Biz with Rebecca Jarvis
Hey everybody I'm Rebecca Jarvis happy Friday welcome to reveal his Berkeley this week. From my office and about to take off an issue but first take a look at this conversation I had earlier that week. This time. We have Dave and John Mark Cuban and do we have mr. wonderful on the line because there are. And I alone. Am the only area and it are you following this countdown clock where in the numbers you bake for you. Qualities that we you know this with me. Having so much fun already be really are before we head haven't put atletico. And have little game called shark tank secrets. First question who's lots the most money on it singles chart take investment. Statement. Kevin dot part a. But at least we start bagel. OK mark. You don't think it's mark tell me what the investment they've all crap that might let. Toward oh is attic haven't. Yet tiger it was a dog. Regatta artists. How much money. Hundreds. Like crate art I can among the guests are with the very first deal I ever did. I'd it would cap it. There. What is the investment remain. So many of them solved. Yeah gets red dress I thought red reference numbers and they're up to fifteen million this year couple million dollars in profit. My NL bit Al all the bases boneless really very hard to say it's only 25000 men accusing you believe that the next few viability one. 25000 ribs in a minute plea 5000 now worth the risk permitted on QVC and then we believe that we'll get to 200 million over the next. Evan is everything okay you are. Here is than yet the victory could not have the fire I have the sirens special and the only got its old so far. Fourteen and a half million bucks group book selling that. Too much out of line and I think we'll I would and the ability of and a paid taxes on that. Which one of you is high and how. And that yours and why. We talk about this. YC. Membership that he has they'll fund doesn't apply if you line up. I mean don't feel where every league I mean you know I'll have followed him around he's got that little guy in Al all the ground and hand. Yeah if Alex yeah here's you know. Yeah that guy is bad avenue little guy named Alex. I. Lets out everybody has an Alex Alex actually gets the hard work done you know what it is much Arctic. We all have dozens of companies now and Alex runs O'Leary pitchers so he actually stayed in touch there's a lot of the background work. Great job or wonderful we I don't know there's a reason they call me most wonderful because I have wonderful it's. I'll. They emit now. Mark that OK so everybody is an agreement here on our. Cadillac and I am well you think happened I think having statement. The good guys and always has some in the same and you know I wouldn't say things when it's not nice but he says it anyway. On the always trying to find out how to get royalties and old. Who spent time in here and make apps. There is nobody if Barrett. I don't care. I show look at yeah I don't know. The way it works is we go once that we start. He and yet and they just ring Tila Tequila to deal we don't should episode we just want you have to act and you go anywhere from thirty minute that you would have it. It I should look at these look at it beyond that column like three hours before three. You know let's mark you gotta tell the truth there's early you actually don't have any hair looked like a album ever wears wrestled down every 11. You know if I hope. More I run my trailer put on the same club that went on every episode. Run there makeup that touch via then a mob. Thanks for hours and make picked up our markets in the night form if at large. OK we can't name that starts soared here in fair August we will not really didn't fare. At. Well it's true barbers and they're now for next season. Here. I thought about pre show rituals because you're telling me that you guys have something what do you guys do after the show. That's me you know you'll. Although it now have on our world. The producer plea. Lou who and pound them every day. And how the there's on you all things having you all do you think that thing that's. It is through that is. To look at. Operative. Eight. Remarkably can be. My mom and most mainstream not object out bill bit lately that the women at bipolar pot luck I'll grab at. That's not. You didn't. Need to block. It. I wanna go to some Twitter questions because a lot of people have been asking a lot of questions for you guys. And Kyle Elliott asked what Disney actually write downs in their note pad this everyone wants to know you all have those no pads every show. Are right what I can. Now that they're walking and we know nothing about them except for. And so we have to deal with the deal you know 10% per 100000 dollars and these are talking. We have right now means. You know you know what what's good or bad about the company presented lies when an apple line noise but it delegate votes right there's when you watch it walking in right and there's no way right. It phone a little cleansing of the notes. That they face up in the future interest what do. Yeah does it feel like 40% or halt. Yeah that's the hard part start going out. Because you're looking at only before eight minutes put some probably there to I was on Pitts would average about 45 minutes as if the F yeah. So you're gonna get it after what if I mean isn't seen nine people that they straight. Haven't even over apologized afterwards with somebody. You're tested you can say some pretty. Mean nasty things so now about their college Deans. Hey I'm going as they thought the mean I think there's. Right there's scam outlook reports that we never see them again using but I you know part of one purse out really really means a woman. Arm and because her husband income want to show when I found out he's an inept clearance. And later. And I looked like he does it to have an animal denial but when I do the united. And the hard part probably. Would like if there's do you just. Right that is open and yet that there protect your benefits and have any of you think they're paying attention yeah. You're really going to be out it is but you still have to listen it Barbara what's the buys everything. She can keep asking questions like Barbara oh lead them with you know for the next few look that up but were up every now them. Over in not your everybody let's go let you know that feeling that it will mean reports that. Everybody else ones still. They only. Do you store up responses like you have come Max that your reading I write off I have a whole list spoke and I began about what document they're great news that's yet that's underneath my pal Michael. All his line out all of Aaron got ahead of time I never get to go back to low when I. Michael like they do that. Yes he's back. Avant having all I can tell a friend back Kevin I'd like you to respond to this next Twitter question because we got it from Gary Oldman. And he said Hugh bin should run for president. What about that. You know I think he should do that there's no question about it well is that it you know I think. Think about it this way mark's very opinionated guy might make a great president we already know right now is all kinds of non conforming. People nuts out of Washington. Getting a lot of traction so maybe if you think about mark vs trump that should be one heck of a show I'd like it's an apathy Canadian and he can't vote. Are we do everything you at now like it beyond that much what about their opener they. Really maybe but miles well. I so what is happily eighteen years to make it. What. Get the out Chelsea Morlon asked how do you take some of the ridiculous ideas seriously and question as it would make it out. Yes they're not eaten there's nothing in it as if you look at always sure yet you look at all it's only Saddam going to take a blank and cut two holes and call it a soggy. We would say that crazy. You wanna respect there's somebody who put their whole life into this thing come all the way to LA and the late on line. And so if they've got. Guts to do that you went respected. Kevin that's a great point that you you have no idea. 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 if you don't like a product does mean the market doesn't like it. And I've learned to respect people's ideas could you never know what's gonna work we've been amazed at the things. That have gone on to shark take it just blown up huge. Bloody body panels yeah. Well my favorite thing that ever I think that you train a cat you know that product that you put a catalog and abducted had a. My title game ran out on go to the bathroom that's it then that's all it you gotta wait till is done. Like that movie filled the lot yet I had perfect. Ready for some rapid fire questions have any ready. I'm ready. You Kevin what's your biggest money mistake in life. Not listening to what my stomach said about a deal and going against that was the way I lost the most money you've got to listen. Here intuition is telling you something that's your combined experience. Being your friend and we you don't listen to it you always lose money. You remember a time worried adolescence your gotten how much it would use. I lost about a quarter million dollars is putting more dollars behind to deal I knew was bad. And that's a mistake you learning try only do that once. And I you know I remember exactly what happens now I teach young cohorts I'd spent a lot of time teaching young engineers. I try to trim and entrepreneurs I give them that example I seek Ellison you're got care much manure you'll know when it's right and you know when it's wrong. Guys' biggest money mistake. It I don't mind making mistakes you know all learn from a lot of my wins are big wins and you know look at a few times in my losses are are too bad. All up in perfect example arm the guy who started Hoover Travis. All are funded in last company and so he came to me and said look I'm doing to think what Hoover cab you might get involved like yeah you know you're worried about this this in this let's discuss that. By the time I was pretty disgusted already found other people to invest about but I think it's. I'm mark. Pretty similar to camera stereo trusting your gut lost six million. In deal call Heather and I also came out full bowl records and Los about three million but more importantly. I thought that I can just hire the right people kneel immediately and ID need to roll up my sleeves and really take a look under the hood and once you do that. Everybody you higher sales person the person they're selling is you. You know love I need now to check and you knew that we need to do this so bad that I don't with a two mistakes that I made and now I I've learned that money doesn't solve all you have to rule is that moment. Absolutely Matt liked everything and every my opinion carries and a complete this sentence Damon you should never waste your money on. Never waste your money at one. Buying a bunch of people using it himself and that these so credit cards if you don't if you have a credit card debt. You don't want to be rich right because you're just it being for 18% all the time your fault for. So I thought after starting a company. Whack your worst way people Newton. People he's not all the time to write this teacher that that you know Paulo's. If all of this talk about what I think the same thing and costly startup company don't know what higher PR person hired right you're the person. Don't think you know what I want the money went out spent a 100000. One immediately is that small business failed over funding actually they don't take out too much on credit card mouth at all and they'll ruled this lead we get into the business and hire people they think that it. Do better than them and nobody gonna do Betty I don't you know the you need to hire a heart surgeon I get that. Don't try that yourself but other than that. Why do you sell. Evan 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 by about 33%. Of the stuff they -- day they don't need. Look at your closet all issues you never Wear all the suits that are hanging up yet worn in years. There's a lot of junk you know needs. And I really five if you question yourself just before you pick it up big flat 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 guys 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 killed by buying stuff here to throw out. In three months is money that could be making interest and dividends for you for the rest your life. Think about that. Totally agree or you can invest in yourself educate yourself who brought you don't you can live like a student Vera you're going to be so Smart. How I want it that way what was the investment I'm shark tank that. Just keep thinking about it and it's painful you know different thing is once you shut off and you go out and you're done with it. You know you don't know pay attention to it now let the do an update on the show I have no life. I don't believe there isn't either get away from meaningless because an investment with the sharks like the perfect marriage you know something a marketer successfully doesn't mean that I will be successful in because you look at Laurie. See by the stupidest things in history on the show. But he did I think seventy million little's still looking just fine she is six really with a little people your eyeglass here. I would have never been able to do that because I just be seated if. Last month is amazing in anyway I'm Alan in my kitchen and I know of and that's why he learned. Either operatic speaking out of sponges are there any products theme as it invested in on the show that now are part of your everyday lives. How funny funny like what. Bombers might bomb the Sox are aware of all the time I have is weighted vest might tighten best that I use adult time I'll echo valley me tell you give up the gifts for everybody. Q blacks that I used a scratch my back that in my office I mean I use of my best there dude why it. Do like them either in my in my bathroom and now attitude. Again I can't handle my grudges are there any cracks you want to plug I've got off I've got a hold. We're generator full of wicked good cupcakes here anybody comes to my office knows about that thing and asked for one. Every flavor we made sitting right afraid I'm excited. Atlanta anyway irritable that's well above those company instantly make the best whom we companies. I don't want to give him accomplish with these cupcakes army. That's kind of the perfect segue to my next question because I was wondering if you guys Wear out yeah I'll do it again to Jim yep oh yeah yes OK so what event. And I'll try to bench while mindful that left left comer really went hard for life. 300. I is that when I'll leave it now I don't want I'm not trying to prove anything anybody say he'll let a 115. And high risk. And then. I do 350 calories and a pre core bike wheel and watching the Asian bond market news in the morning sixty. An ideal but she yelled up for half an hour. And I try and walked 121000 steps before start drinking my own O'Leary wine and about 8 o'clock at night how do you tractors that haven't what you Wear an accurate. Freer I've I've covered in all kinds of electronics that track place I don't wanna give them free advertising that Arnold their company alliance to different devices one. One the tracks might 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 you drink a lot of wine you don't sleep very well I think. Cut back. But whether they have a vampire others how much sleep you get it. Again one. Kevin getting about five hours on average that's it and I kind snooze in the limo on the witness. One.

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

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