So do we have a deal? No, no, never. You need your head examined. That's just terrible. Okay, so let's back up for a second.

This is: Barbara Corcoran She sold her real estate Brokerage in 2001 for 66 million dollars. She's a judge on the Emmy award-winning show Shark Tank and after years of watching her on TV I got the opportunity to fly all the way to New York City to picture my groundbreaking idea that I believe has the potential to make hundreds of millions of dollars over these next few years. Except there's a problem. First, she has no idea that I'm pitching her an idea.

and second, I don't have a billion dollar product. So here's the plan. Step one: create a product in the next 24 hours. Step two: she can't catch on to us so we gotta make it seem like a normal regular everyday interview.

But then step three: Picture's such a good idea that she couldn't possibly resist. And then step four: Profit. What could go wrong is that recording us two claps please? You have to realize that I had nine siblings competing for the attention of two parents. so I learned to be competitive.

We all did. We're a competitive family. You had to be hurt. The other thing that was very important in my childhood is: I was a terrible student I couldn't read or write till I was almost in seventh grade so I was labeled a dumb kid and as a dumb kid in that jailhouse other people call School I Just couldn't wait for that belt to ring.

And my idea of Hell on Earth was being asked to read out loud. It taught me shame. and I honestly think my whole career has been one long attempt to prove to the world that I'm not stupid. That really is true.

It was an asset, but I didn't know it then. what drove you to becoming an entrepreneur? My dad, my dad wasn't an entrepreneur should have been in hindsight I realized he got fired from his job probably every year of my childhood and he would come to the kitchen table and sit down early like five o'clock instead of six dad's home and he said guess what kids and we'd all scream you're fired because it was such a common occurrence and then just like a real life John Wayne figure he'd tell us how he told the boss to take his job and shove it up with the sun, don't shine and we were like yay! Dad So in our family we have 10 kids and eight and ten entrepreneurs. I'm sure that's my dad's influence. We all hate our bosses I've had great bosses but I never really liked them because of my dad's influence I thought it was terrible have somebody telling you what to do? Did he ever worry though about losing his job all the time? But you know her word most my mom.

She didn't know how she was going to feed her kids. She didn't know how she was going to clothe them. She worried her whole life but it always worked out. She had that capacity to kind of Brave it through yeah and support my father in his in his job quitting which I would have read him the riots act if I had 10 kids.

You know, you know money is all about expectation I think and as a kid, we were no poorer than the other kids in our town. We were all poor. you know we all got new pajamas for Christmas Now that might not sound like a big deal, but with all of us unwrapping on new pajamas every Christmas Eve we felt like we were in Beverly Hills like put on a new pajamas you know? sure. But it's funny we we had so little but my memory was we had everything because I really had loving parents and I think that's what kids really are focused on and how rich you are.

This is perfect. It's clear that Barbara understands the value of every single dollar she's gonna love. my idea. Let me take a little bit deeper though.

What you have as an advantage if you're a poor kid is you have no monkey on your back. You don't have parents hoping you're going to measure up. Go to the right schools, perform well, so that's out of the way. You have nowhere to go, but up.

There's no downside. you have no money to lose. Think of the freedom of that. That's what poor kids have.

You know what else they have? They have ambition. If they have the ambition, they have a burning desire to have the fancy car, the nice house. They've never been on a luxury vacation so they're driven I Like to get poor kids like that because I understand where they're coming from and I know they're going to push push push like crazy and that's an advantage without a doubt. When did you start cutting people with negative energy? What prompted that? No one that I heard she was terrible I Always think of negative people as being thieves.

They're going to steal my energy. my Good Will and the Goodwill of my great agents all around me. and so I protect and I fire them. I'm great at fire in particular on Fridays I Can't wait to fire a complainer.

but you want to know something that's not the real obstacle for me and maybe not with other people. For me, the real obstacle was the negative tape in my head and took me years to rip it out. You know the negative tape that says you're not going to make it, You're not respected, you don't have the right education. You can't do this.

You can't do that. I had so many can cans in my head and it probably took me until I was 35 to really get rid of it and I can't even say I got rid of it Totally because if I'm insecure I feel a little that bad but now I have a great tape. Yeah, you are amazing Barbara you are fabulous. So I kick into that tape when I need that for the energy.

How are you approached to do shark Tank? Oh that was a lucky break. Another lucky break. Maybe as lucky as meeting my future partner at the diner right? Mark Burnett Called me because I was doing morning gigs on The Today Show in real estate I was there real estate and house expert and I got a call from him asking if I well not him personally, he's an important guy his assistant to the assistant to the assistant and probably asking me if I'd be interested in the show I thought I'd be interested. they sent me a contract and never read it I just signed it, mailed it back at Federal Express right away.

sure you know and then uh, the same woman called to say Mr Burnett had changed his mind has he had hired another woman but when I got that quality, it changed his mind. The best thing I ever did was I did what I do well I objected and I wrote a note saying I appreciated him consider me as a fallback which is what the girl said how insulting. but I do my best work when I'm in first position and you should consider inviting both women out to compete for the seat. and I gave him my reasons why why I always recovered from rejection I said I think your rejection is my lucky charm.

it's always been my lucky charm and told him why he should hire me and he invited us both out to compete for the seat and I want it Thank God I spoke up I think it's time we test the waters a little bit. I'll ask her this question and maybe it'll help me with my pitch. Have you ever met an entrepreneur or see maybe a personality type and you could just tell this isn't for you. You shouldn't be an entrepreneur all the time.

That entrepreneur or couple or group of people walks on the set I look at them and already I know if I'm out and it's interesting, why am I out? It's just an intuitive reaction to the individual. I either look at them and say I don't trust them I look at them and say they're not going to have the confidence to overcome obstacles because they can't hold eye contact when they're on set right from the gecko they're looking here, they're scared. What red flags do you notice in entrepreneurs? Same red flags I'm always looking for. You know when somebody's on Shark Tank night the world opens up to them.

They become a mini celebrity overnight. their orders come in. even if the business is never going to do well. it does well at first.

Because of shark cake night they sell Oodles of their product. Don't pay attention to anything until about three four months later when I get the call. the call is oh my God my patent didn't come through. Oh my God my my my product is at fault or oh my God my product never came in or things are wrong And here's the difference.

A bad entrepreneur would be entrepreneur blames it on somebody else. That's all. I'm listening for the minute they start playing victim like oh he promised me versus saying it's my business I'll take the hit. Let me tell you what I'm going to do about it.

I would say that four out of five people in month three or four I hear that pity party and I don't spend any more time with them I'm never going to get my money back out because people who spend time feeling sorry for themselves versus just reacting. Getting back up and doing it never make it. That's the way. I Really see Shark Tank I Sit there choosing people I don't really give a damn what the business is if it makes common sense and you know if it doesn't make common sense and I have a good entrepreneur, they'll change it.

Yeah, you know we'll change it together so it always works out excellent. That means my billion dollar idea doesn't even have to be that good. I'm Gonna Be Rich How is your business currently broken down? Uh, my major business is real estate investment. okay I Love real estate I know it I know it well and you can make a lot of money in real estate.

My major income is from remortgaging my properties I take a ton of cash out every two or three years I can put a different mortgage on that boom and take that cash out tax free and it's legal so that I consider my main stream of income. then my hits on Shark Tank pay well when they hit and cost a lot of money when they don't Yeah. But in the end I make good money not like I wouldn't real estate over the long term? Yeah. And then what's my my Revenue I'm a working girl I mean I give speeches I I do endorsements I do whatever you do to make money on your brand and that's what I do.

that's the third source of income. How else do you invest your money? Do you do anything outside of real estate? Not a thing. It's always said that it's bad to have all the eggs in one basket, but this is a basket I know and I've always done well with it. So I just don't like to leave my knitting into something else.

It's better. What would you say? your worst investment has been I'm I don't even think I have an answer but I could. What's coming to mind? My worst mistake I made in investment which was I covered it out when I was 29 buying my first studio in Greenwich Village I just didn't have the courage I was afraid yeah and I backed out of the deal and that was the worst mistake I ever made. The best best investment I ever made was four years later when I caught up with the market and bought a studio the same Studio I could have bought half price only well close to Half Price four years earlier I got four years later.

that's how long it took me to catch up to the real estate market here. But what that did? it provided me a ticket into investment. I traded that for a one bedroom trade the one bedroom for two bedrooms. This is a Moment of Truth subscribe right now so this goes well.

The real reason I came all the way here is because I have an idea that I want to pitch TV Here we go I think you're going to invest in it I bet not I think you will I think I could change your mind introducing the toilet topper. Good name though since you're flushing money down the toilet anyway. Did you know Standard Toilets flush seven gallons of water. The average person flushes the toilet five times a day and it's 24 of total water used.

Ten thousand gallons of water are wasted per household per year. The average cost for water is two cents per gallon. but do you want my two cents? Yes. I Do.

Okay, good. what if I told you that there's a way to save money and save the environment? But wait. what if I told you I'm waiting I'm waiting that my product pays you to use it and my product will generate a 100 return in its first year that my product could make people millions of dollars instantly. I Wouldn't believe you Introducing the toilet topper Now Products is still in design phase.

We're still trying to figure out how this product is going to look, but the premise is that this will displace one gallon of water in the back of your toilet and save you one gallon of water per flush. It saves five cents per day on your water bill times 365 days, 18, and 25 cents per year of savings. I'm sorry I'm just trying to get better. It's seriously, it can't get better.

It does. I mean it's worse. You could actually make an extra million or two million dollars. I'll show you I'll show you how very shortly and I'm serious.

I'm sure you want to put your name on this 100 and I would not be wasting your time on this. So this is the benefit. This is the pitch. It sucks.

No, it's not. You're not going to get anybody to invested tonight. Just wait I Still have another minute. Now Let's say that you're the property owner of a 400 unit apartment building and you pay the water.

It's the land. Okay, a hundred gallons of water per day times 400 units. and these are real numbers. By the way, based on the the national average, 14.6 million gallons of water are used in your building.

I'm going to say toilet Toppers in use that saves you 1.75 million gallons of water at the cost of 2 cents per gallon. which is the average that saves you 35 000 a year in net profit now at a three percent cap rate here in New York that's an added value to your building. One million 167 883.20 of a higher property value that you could cash out. Refi I Could tell she loves it.

This product is a no-brainer It saves money, It saves water. This is perfect and couldn't possibly be going any better. So do we have a deal? No, No, never. This is just terrible and you know that this has got to be a joke.

You need your head examined. That's just terrible. Get this guy a drink he needs to be drinking early in the day. Okay, so that might not have gone as planned, but we still have four sharks left.

So make sure to subscribe and see how my next pitch goes because maybe just maybe I'll get my 69 420 investment.