Barbara Corcoran and Mark Cuban give viewers financial advice

The “Shark Tank” stars also talk about their recent Emmy nominations before sharing tips on side hustles and buying a home.
8:08 | 08/25/20

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Transcript for Barbara Corcoran and Mark Cuban give viewers financial advice
back to "Gma" and excited to have two, not one, but two of our favorite guests joining us this Tuesday morning. It is time to ask the sharks. You know them, mark Cuban, Barbara Corcoran, armed and ready with some financial tips for all of your "Gma" viewers. But first before we get to that, Barbara and mark, we have to say congratulations to you, "Shark tank" has received two, two Emmy nominations including outstanding reality program. Also outstanding host for a reality program for you and all your hosts, so I guess, Barbara, let me start with you. You got several hosts but who is the one that really carries the show? I would have to say mark because he's the only billionaire on the show. He's everybody's favorite. He spends the most money. Is that about right, mark? Would you agree with that, you're the guy? You know, I got to go with Barbara. Barbara's got the best attitude. Worst at math. She makes everybody feel good so I'm going with Barbara. Okay. You guys thought about how you'd celebrate if you win? Yeah, sure, you know what I'm doing, I'm inviting all my entrepreneurs that have signed up to watch it with me. They made their fortune on "Shark tank" and so they love the show more than we do and I'll hire my own red carpet, inviting family and friends and have a gorgeous dress coming from Paris and I'll have my own red carpet and it's going to be fun. Wow. You have thought about this. Have you given it that much thought, mark? Yeah, I'm going to sit in front of the TV in a pair of shorts and a t-shirt and watch it with the family. Kind of like now. I'll try to make it with that emif I trophy. I was giving you a hard time but wearing the t-shirt for us. Your Dallas mavericks are in the NBA bubble putting on a show right now in the NBA playoffs playing again tonight and Luka is the guy. I mean, you know he is a superstar but he's really having a coming out party. What are your thoughts on what your team is doing and how the bubble is holding up? Well first of all, the bubble has been incredible. So much credit to the staff of the NBA and Walt Disney world, you know, and all the guys for really being professional and following all the protocols but in terms of the basketball, it's been incredible. Our game last night, the other night where Luka beat the clippers on a last-second overtime buzzer beater was incredible. Another game tonight, series is tied 2-2. You know, we're on a mission so hopefully we can pull this off so go, Mavs. Go, Mavs. We want to tap into our brain trust for your business expertise. Barbara, we've been talking about this for a long time now. These unemployment paychecks/protections against evictions are expiring in a lot of the country. What is your best advice right now for folks who -- so many folks really struggling to make ends meet especially folks who might be worried about making their rent payments this month. It's a big worry out there, of course. The moratorium ended a full month ago already but in practice no one's being thrown out right now because the courts, I'm not hearing any of the judgment cases out there and there's no talk about when they'll do that so people could really take a breath in and feel more comfortable. But if you think that you're going to be late on your payments and you're struggling you should call your landlord early and be as transparent as you can. You can work out an agreement for rent reduction or slower payment program, remember, landlords don't want that apartment empty any more than you do and if you haven't had proof of unemployment, they will take it seriously and work something out. The first question from Arielle in Brooklyn. Let's listen to the question. I've been looking to maximize my streams of income. Any advice on creating successful side hustles during the middle of an economic crisis. Mark, you start us off. Essentially trying to make some extra money. Yeah, America's side hustle has become making it for your neighbors. Not only do we need masks but you can't just use one. We need to cycle through. People want creativity. People want excitement or, you know, things that will keep them safe and be a little bit fun and so making makes for your neighborhood and getting out and selling them is really a great side hustle. The only thing I'd tell you to make sure you do, use the right tears because at the end of the day a mask is about protecting your neighbors, so make sure you use materials that are going to be safe. Barbara, what do you think? I'm thinking most businesses out there now are totally reliant on part-time workers. This is the new economy. I think it's smart as an individual to sit down and make a list of what you're good at. People sell themselves short. People have a lot more things they can do well than they think they do. Make a list. If you're a good student and good at a subject, you can become a tutor. If you own a bike you can create a delivery route. If you're good at home improvement, everybody is stuck at home and everybody knows what's wrong with their house. If you're good at talking get on a line and run surveys or just be a service representative. People are willing to pay for it. If you list yourself on all the platforms out there you would be shocked at the work you will get. There's upwork. Tank grab and another half dozen I can't think of. There's tons of work out there. A side hustle is now the norm. Side hustle the norm. Another question for you from carlissa in Chicago. She's worried about her catering company called purple ribbon chef. Take a list sdmrn my business was denied government assistance at the beginning of the pandemic. Now with no one doing events we're at a complete standstill. Do you have any advice on how I can get my company back on its feet? Okay, Barbara, we'll start with you this time. Okay, well, the great things about about uncertain time is everybody is open to change. So bear that straight in front of your head, okay. Caters are hard working people. You wouldn't be if you didn't like to work hard. You're well suited to shake things up a bit. Think of yourself as in the food business, not the catering business and need to think of a creative way to deliver your food. Something new. It's an era of picnics right now and small gatherings versus large weddings so take advantage of the small outdoor gatherings people are having. They want great food and want beautifully displayed and if you're going into the winter and, mark, I think you said you're in Chicago, it's going to be the season of the pop-up restaurant so try to find out what you could hustle in on an empty store not collecting rent and see how else you can deliver your food. Think outside of the box you're used to being in. Best quick tip. Entertainment event business has been decimated and moved over to virtual. I would partner with as many companies that are doing virtual events as you can because even they want to have food delivered to their participants. I have a company Alice's table doing virtual events for moms and mom entrepreneurs doing table settings and provide food. Find companies doing virtual events and partner with them. One more question before we let you go. Mark, you posted about starting taping for season 12. Can't believe it's 12 seasons already. You guys areiously following social distance rules. How is it going? What is different this time around. We certainly follow social distancing rules. We were in a bubble but the entrepreneurs also had to survive the bubble as well and had to quarantine for eight days before they presented to us and I got to tell you the deals were amazing. The companies were incredible. They were big. You know, you have to have such a commitment to your business in order to quarantine for eight days that it just took us to a whole other level. Season 12 when it premieres this fall will be incredible. We always sometimes thought some of you sharks could use distance between you. Barbara, mark, good to see you. Mark, good luck tonight. We will all watch the Mavs and Luka.

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

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