Barbara Corcoran is still one of the sharks on ABC’s Shark Tank and she’s the host of the Business Unusual Podcast. She stopped by The Bobby Bones Show to talk all about her latest ventures, answer some frequently asked business questions, and even give some insight in the behind the scenes of Shark Tank.
The Business Unusual Podcast has Corcoran listening to people’s business problems and giving them advice on various topics. Bobby Bones asked her some big questions that are often asked by listeners of his show. He asked if someone needs a college degree to make a good living. Corcoran was confident in saying “absolutely not,” adding that she’s seen a lot of instances where the degree actually got into the way for some entrepreneurs. When asked what people should say in interviews to the question “What’s your biggest weakness?” Corcoran said that people shouldn’t answer the question honestly. She said that what a person wants to do is answer the question so harmlessly so they come across “as a saint with only a tiny flaw.” Potentially use that moment to share a funny joke. When it comes to people buying homes, she shared an analogy. Everyone always has a million excuses not to buy, but if you don’t get in the game then you’ll get locked out for the majority of the game. You have to have a reason to play the game and if you decide to wait it out, it will never pay off.
Corcoran is notably known for being a shark on Shark Tank, but also a really good business woman. She confessed that she’s definitely hired employees for being late before, but she also has hired people for far less than that. Her work is highlighted often on Shark Tank and she shared some behind-the-scenes things that fans of the show might not realize. The sharks don’t know a thing about any of the guests that come on the show before they come in. And a typical segment for them lasts about an hour to an hour and a half, but only about 7 minutes of that air. And yes, believe it or not it really is all of their own money being used. Corcoran noted that Mark Cuban is the only billionaire, but despite that she has been one to invest in lots of business. She has invested in over 90 businesses during her time on the show. Though not all of those are money makers. Corcoran admitted that only some of the businesses she’s invested in have been “home run hits.” One of those is the business’ Comfy, who has made $300 million in sales in 3 years. Those kind of deals make up for all of the losses occurred with other investments.