Barbara Corcoran On Shark Tank Season 16, Pitching Tips, Work-Life Balance, AI, & Journey To Success + More
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Speaker 1 (00:03):
What's up this way for Angela?
Speaker 2 (00:04):
Yee?
Speaker 1 (00:05):
And how exciting for me. Barbara Corkran is here with
me today.
Speaker 2 (00:09):
Happy to be here, Angela.
Speaker 1 (00:10):
I'm so happy because, first of all, I watch everything
that you do online, and so I told you I
have my real estate license. I've been investing in real estate,
so I'm always paying attention to what you're saying about
the real estate market. And sometimes it's hard when you're
looking at things online because you're like, Okay, Redfinn says this,
Julia says this, Barbara Corkran says this. So I always
kind of just try to piece it all together. And yes,
(00:33):
you know, so I want to talk about, first of all,
congratulations Season sixteen.
Speaker 2 (00:38):
Sixteen might as well be season one hundreds.
Speaker 1 (00:41):
Of Shark Tank and you're still having a good time.
How is it now that you guys started and Mark
Cuban isn't there.
Speaker 2 (00:46):
It's a little bit said with Mark going. But I'll
tell you the truth. We did our best season because
we were all trying to show off this year how
smart we were in front of Mark before it even left.
So I think you're going to see a lot of
good Shark Tank this year, more than ever.
Speaker 1 (01:00):
Right, I'm excited. Do you guys film the whole season
ahead of time?
Speaker 2 (01:03):
And they do for two in two particular times of
the year in June and then again in September. But
we do endless days and get it in the camp,
so it probably takes about two weeks total if we're
to counsel when the days is. That's what I'm trying
to find. Your days.
Speaker 1 (01:18):
Yeah, those are long days.
Speaker 2 (01:19):
They had long days and by the end of the
day you don't really like each other much.
Speaker 1 (01:23):
Is it better you think for you guys when people
come in earlier pitching or if they come towards the
end of the day, because it has to get exhausting both.
Speaker 2 (01:29):
I think afternoon after lunch works great because we're all
feeling satisfied before lunch. We never buy a thing. God
forbid you. The entrepreneur that marches onto the set right
before lunch. Nothing you say we're gonna.
Speaker 1 (01:41):
Like and everybody gets Cousin Mayin's laps there and yeah.
Speaker 2 (01:44):
All we do with Becusset, it's been lots to the set.
We do that a lot with the successful businesses, and
they love it because they love to show off. Look
at me, I've made it.
Speaker 1 (01:52):
Yeah, No, that's a big deal. Well, I do want
to talk today about everything that's been going on in
the real estate market too, because that was one of
my main you know, I just got my CVA for
a building I got in midtown Detroit. I just got
it earlier this week actually, wow. Yeah, And it was
a long journey to make that happen, in a lot
of obstacles. And I know you've said that for real
estate you just got to get in there.
Speaker 2 (02:14):
You got to get in there.
Speaker 1 (02:15):
That is your biggest piece of advice.
Speaker 2 (02:17):
Once you get in, you can't get it out. You
might as well do a good job, right.
Speaker 1 (02:20):
Yeah, No, absolutely, And people have been really nervous. People
have been nervous because of interest rates. They've also been
people who own homes have been nervous to sell them
right now because they're not going to get a better
interest rate than But they.
Speaker 2 (02:32):
Agree with that. I understand it.
Speaker 1 (02:35):
Yeah. And so how have you been handling your portfolio?
Speaker 2 (02:37):
Well, I think there's times to buy in the market.
You can't really sharpshoot the market where you're exactly time
it right. But I'd like to get warm around when
I came sharpshoot or pretend to sharpshoot better. And right
now this month where and I think it's probably the
best month in the last two or three years. And
the reason for that is exactly what you cited. There
so much confusion in the market. Interest rates went up
when everybody thought they would come down without really a
(02:59):
big explanation. People who are on the sidelines are sitting
on the sidelines when they wanted to. They had decided
only a couple of months ago they were ready to
jump in. So you have a quietness in the market
this month before the election, and if you could jump
in there, a lot of people are going to take
bids that wouldn't have taken them two months ago because
of the uncertainty in the market. I buy a lot
of properties around different cities that I think are up
(03:21):
and coming cities, kind of like I used to think
Brooklyn was an upcoming city about Manhattan, you know, and
then it was taken anything but up and coming anymore.
So I always looking for those up and coming cities,
and I can tell you they're hard to get good
deals in a really great city. But in the last
couple of weeks I've been hearing from a lot of
people saying yes on bids that they wouldn't have said
yes before. I it's a great time to get out
(03:41):
right this month. This month, once the election is done,
people will all guess where they're right or wrong, which
direction we're going in.
Speaker 1 (03:48):
I mean, I have no idea what's about to happen
with this election.
Speaker 2 (03:51):
You were perfect you You're just involved in new property now.
I don't know if that was intended or just.
Speaker 1 (03:57):
Having a long journey, you know. And I want to
say this too, because real estate is While I love
real estate and I've done some great things. I have
two Brownstones in Brooklyn, and I have.
Speaker 2 (04:07):
When did you should buy those?
Speaker 1 (04:09):
One of them? I bought in twenty maybe like fourteen
years ago.
Speaker 2 (04:14):
Wow, you're rich.
Speaker 1 (04:15):
Yeah, it didn't.
Speaker 2 (04:16):
I don't even have to ask you.
Speaker 1 (04:17):
Where as a bed stye? And then I have I
also have a condo in Williamsburg, and then I have
an airbnb And the catskills get you a little hustle
to you, I've been I've been doing my things, but
it's also been a learning process. From the first time
that I bought one. That's what made me feel actually
secure enough to be able to buy other things. Once
I bought my first property, it was a two family, yes,
and that was property in the world. That was important
(04:38):
because I didn't want to handle a lot of tenants.
But I think just one really helped me pay my mortgage.
Speaker 2 (04:43):
Well, you were, you were living in the same building. Yeah,
a lot of people don't know a two family house.
The best investments always the market because someone will pay
your rent. Yeah, what's roll with.
Speaker 1 (04:52):
That or at least part of your part of your market? Yeah, generally, Yeah,
But I do want to say that everything doesn't always
work out, and so you know, even in particular with
this building in Detroit, there's a lot of things that
could happen, Like there was a covenant on it that
we weren't aware of for ninety nine years that we
had to figure out how to exit and taxes were
able to yes, And it was a long journey to
(05:14):
be able to make that happen, and we weren't sure.
So sometimes it's not a short shot. What are some
things in real estate that you've done that maybe didn't
happen the way that you would have liked.
Speaker 2 (05:22):
Well, most of the things that wound up really great
for me were really done by accident. I remember I
bought my first two townhouses in Manhattan, five story buildings
with twenty tenants in each. You no, it sounds like
like great envisioning so many years ago. But I couldn't
find an office to house a new real estate office
downtown Manhattan, so I had to buy something to get
a new office. And that wound up like quadrupling in
(05:45):
prices within two years. As I recall, it was amazing,
and it just keeps going up. I keep remortgaging it
and spending the money. I don't pay taxes on that,
taking the cash shoveling out, shoveling out. But then I
have to say, the very first thing I ever bought
was a mistake. I put a ten unit, a small
I guess a hotel you'd call it, or a motel
(06:06):
up in the country because I was looking for something
to give my first husband to do, because he was
very busy. And I bought that and I asked, let
me see the payroll, And the payroll made perfect sense.
We were going to make a lot of money. But
I never asked to see the rent receipts. Nobody was
paying rent. There was a rent roll, but nobody paid,
so we went under the water on that one for
probably two years before we came out hole.
Speaker 1 (06:28):
What do you think about the laws for you know,
I think that as a homeowner sometimes it's very hard
to deal with tenants who aren't paying the rent and
trying to either get them out, and I have sympathy
for people who are having to have times. But then
there are some people who are just not paying their rent.
Speaker 2 (06:43):
Absolutely. I have found over the years the guy who's
really in need all whose paces rent right, I really
haven't had a problem there. You know, you could extend
a little credit and get through the bad time. But
the wise guys I've gotten involved with over the years,
a wealthy kid or somebody in Greenwedge help me off
for rent for like nine months, didn't pays rent. It's
always somebody who's more affluent.
Speaker 1 (07:04):
I think that has the right to meet the system.
Speaker 2 (07:06):
It knows how to play.
Speaker 1 (07:07):
You.
Speaker 2 (07:07):
Yeah, it's it's unfortunate because if you let it, it
would sour your attitude of real estate. Yet if you
don't let to sour your attitude and realize most people
are good, you can make a ton of money in
a very slow way, but you wind up very very rich.
Speaker 1 (07:20):
Do you think that they need to figure something out
to make it better for because some homeowners can't even
pay their mortgage if the rent doesn't get paid. And
so I don't know how they make that a better
process for people who can actually afford to pay the rent,
because even for me, I had to evict a tenant
or start that process, and it's their properties, right, yeah,
And it's a long process, and they weren't paying the rent,
(07:42):
and then even then you still have to give them
three months notice, and then even after that, who knows
if they'll it's just such a.
Speaker 2 (07:47):
Click become a holdover tenant despite the court order.
Speaker 1 (07:50):
Yeah, yeah, So I don't know, like, what would you
do in a situation like that? Maybe send somebody over there.
Speaker 2 (07:56):
To kill them?
Speaker 1 (07:57):
Me me not.
Speaker 2 (07:58):
I don't say what were you sending people over for?
Speaker 1 (08:01):
Maybe act like I'm going to kill them though. Oh
that's a little different, little different, a little different, you know.
Speaker 2 (08:05):
I think you're always as a landlord, balancing between your
empathy and your heart and what you need to pay
your own bills on the building. I think when it
comes down to losing money because the tenant's not paying rent,
people get tough and they usually stay right away. You
got to get out and start the movement legally to
get rid of the tenant.
Speaker 1 (08:21):
Yeah, that's all you can do now. Also, you worked
in another business that's a tough business, restaurant business. Yes,
I did talk to me about what you learn from
that experience, because people would tell you the restaurant business
is like the toughest business to get into.
Speaker 2 (08:36):
It. Well, when you say restaurant business, I didn't own
a restaurant business. It did work as a waitress. Many businesses,
of course, and waitressing is great. It's probably a good
parallel to real estate sales. You're on a commission basis.
You smile, you make friends, deliver great service, you get
big tips. If you don't, you don't get any tips.
The hours along you think you're going to go in
and just get the job done. No, it's excruciatingly, it
(08:58):
just makes you tired. A tough business, you know. And
with being a waitress, if you're a good waitress, you
can call your own shots because there's so few good waitresses.
You get a job anywhere. It's just like you can
on a real estate agent. If you're making money.
Speaker 1 (09:11):
You know, I want to ask you, So you've never
thought to invest into or do you feel like that's
not you know, like I said, the restaurant business, you've
seen it from the inside, but that's something you've ever
thought to invest And I'm sure people have approached to
you about that.
Speaker 2 (09:24):
You know what it is with the restaurant businesses. We
hear them on Shark Tanks and I have invested in
a few of them. But what's difficult to do is
it takes a lot of cash to run a restaurant business.
It's usually an entrepreneur that's working all their hours at
the restaurant and very often there really isn't room for
another investor. You know, they don't really want a third
partner in there tell them what to do or giving
a third of their profit to the investor. So it's
(09:45):
a hard business to get into unless you're owning yourself,
and you have to.
Speaker 1 (09:48):
Be there a lot because to be that micro managing
is a lot. And now for people, are the average
person right who wants to invest in a business, and
they watch Shark Tank and they watch people come on
and pitch. How do you know what to invest in?
If you could tell the average person that's like, Okay,
this person is studying a business. They want me to
invest in it. What should they be looking for?
Speaker 2 (10:09):
You mean someone pitching a business?
Speaker 1 (10:11):
No, somebody who's looking to invest because those people are
figuring out how to grow their portfolio, and they're like, Okay,
I have a little extra cash. I do want to
invest in something, but I don't know how to go
about it. I don't even know how to structure this deal.
I don't even know what I should be asking for somebody,
but I do want to get in the game.
Speaker 2 (10:27):
Yeah. I think it's a very smart idea to look
at it with one eye closed, and the eye closes
towards the business. You should first really examine the entrepreneur.
Who do you have in front of you. What's their
track record? Do they have a track record? If they don't,
do you believe them? Have they worked hard? What else
have they done? What have they done before? And what
have they failed at? A lot of people don't tell
you what they failed at. I've invested in a few
(10:47):
businesses where I found out four years later they had
three other businesses they failed at. That's a bad enough report.
Cut a lot run and I know that before I
got my money involved, right, But no, you have to
focus on the entrepreneur, and after that you look at
the business because it's I've really lost so much money
really with good businesses, but I've made so much money
with smart entrepreneurs. Right, we focus on that the best.
Speaker 1 (11:07):
You gotta take a chance. Now on the flip side,
what makes a great pitch for somebody?
Speaker 2 (11:12):
A great pitch is somebody telling me how I'm gonna
make money, and very few people even think to tell
me how I'm gonna make money. That's gonna get my
interest right up front. A great pitch is someone has
enthusiasm and has seemingly enough energy to hit the finish line,
you know, you get into I see so many entrepreneurs
that don't have energy, and that's just never gonna work.
And also, a great entrepreneur is an entrepreneur who's been
(11:32):
tested through some kind of durists and come through as
a winner because he really hits so many obstacles building
a business. You just have to know how to get
back up and recover. Kind of like the jack in
the box. You have to jump back up and say,
hit me again, hit me again. Because every entrepreneur is
persistent or they're never gonna make it as an entrepreneur.
It just doesn't work that way.
Speaker 1 (11:51):
Do you look for a business where I mean, and
we talked about it, like show me how you're gonna
make me some money?
Speaker 2 (11:57):
Right?
Speaker 1 (11:58):
At what point? Because sometimes you feel, even for me,
like for business that I have, I before I try
to get investors, I want to make sure that I
actually have grown my business to a point where I
feel like it has more value than getting an investment
early on. But some people can't get to that point
without an investment early on. So when you're telling somebody
like say, I have a business right and I'm looking
(12:19):
for an investor, at what point should I say it's
time as opposed to let me get a loan from
the bank.
Speaker 2 (12:26):
I think you should be getting a loan from the
bank as long as you can because so many people
selling stock early. I almost sold my business, Corkoran Group,
five years before I actually sold it to Merrill Lynch
and they offered me one hundred thousand dollars when I
was just for catding.
Speaker 1 (12:39):
Wow.
Speaker 2 (12:40):
I couldn't believe my good fortune of Merrill Lynch wanting
my business.
Speaker 1 (12:43):
For one hundred thousand dollars.
Speaker 2 (12:45):
I sold it five years later for a sixty six million,
So what a shame not even contemplated that offer, And
thank god.
Speaker 1 (12:51):
I turned them are what made you turn them down?
Speaker 2 (12:53):
Good instinct? I thought maybe I could do this without them?
Am I really that desperate? Let me try one more thing?
And in the trying one more thing, you always find
an answer. Everybody finds an answer just trying, try and trying,
And it's kind of like the Cinderell syndrome. Somebody will
come in and rescue me. It doesn't really work that way.
You get an investor who has his own opinion as
how you should run the business. He wants his money,
(13:14):
puts his nose in the job. You have a different perspective.
Now you have to please investor. I'm just not a
big believer in it.
Speaker 1 (13:20):
I was talking to a founder earlier and she was
just discussing how everybody who's been really successful and self
made successful has these stories of where they've just been
back against the wall, savings completely gone, not knowing how
they're going to make it happen.
Speaker 2 (13:37):
Yes, of course part of building a business.
Speaker 1 (13:40):
And so for people who deal with that, because I
feel like self care especially you know, years ago wasn't
talked about as much as it is today, and.
Speaker 2 (13:48):
Taking people still don't do it.
Speaker 1 (13:49):
Yeah, and even taking days off. People feel like if
you take days off, then you're not working hard enough.
You know what was that like for you when you
were growing first growing Corkoran.
Speaker 2 (13:58):
Quite the contrary, because I realized early on that I
was no good unless I was relaxed. So I would
certainly run seven days a week for many weeks in
a row, but I always went to Jones's speech for
a whole week solid, just my little bathing suit, my
little sandwich. Just go to Jones Beach because that's what
I could afford. But you know what, while I was
at Jilones's beech, I thought of a billion ideas. I
got revived, I got enthusiasm, I got back, and I
(14:20):
motivated people at food. It's never happened at my desk.
If I kept my nose on my desk, I never
had a good creative idea of my life at my desk.
I always found it on the outside. So I think
I think people have to realize I can't be a
dog that works all the time if they want to
be successful. I haven't met anyone you need to have
fun at work. You just need to get away to
refresh yourself self care.
Speaker 1 (14:40):
As you put it, What do you think then about
since we just talked about this and about self care,
what do you think about working from home? Because a
lot of people now are not looking for it to
going back into the office. Some people are saying, I'm
not working for this jab if I have to go
in there, I only want to go in two days
a week.
Speaker 2 (15:00):
Out of two ways. I'm looking at it from the
employee's vantage point, and I get it. Why would you
want to get in a car and go to work
and where we stole that time going in just to
come home again. It doesn't make any sense. Everybody wants
to stay at home. Whether people are more productive at home,
I'm not sure. I'm buying it as a As a boss,
you know, I kind of like when I'm in the
office to see all the people that work for me
(15:20):
in the office working with me. If I'm not in
the office and I'm taking those two days off or
working myself outside the city on some business related thing,
I like my people to know they don't have to
come in. But when I'm in I like my people.
Speaker 1 (15:32):
In Okay, because it is. I never could have envisioned
that people could be like I'm doing a hybrid work
from home. When I first started in this business, it
was like you have to be here.
Speaker 2 (15:42):
But you know, we've proved to everybody could be done.
Speaker 1 (15:44):
Yeah. Yeah, we didn't have a choice for a period
of time.
Speaker 2 (15:47):
Yes, right.
Speaker 1 (15:47):
What do you think having done sixteen years at start
Tank is different about how our entrepreneurs were pitching when
you guys first started versus how things are now because
things have changed a lot, even as far as social media.
As far as that's like a whole different metric for
people and a whole different form of advertising. But some
people hate social media.
Speaker 2 (16:07):
Well, if they hate social media, they can't be in
business because everything is played out on social media. It's
like the giant bieldboard of years ago. If you're not
going to advertise not social media, you're not going to
be in business. I always buy entrepreneurs at are greater
social media. I don't even care what business are in. Wow,
they have that game. They're gonna hit the drum and
get it well known their brand. They're gonna push it forward.
(16:27):
But no, it's not an extra anymore. Social media it
is the main playing field. You're absolutely right.
Speaker 1 (16:32):
So when you think about people pitching, you know when
you guys first started the show, because I know you
couldn't have envisioned it lasting never as long as it's
thought it last year maybe, And I feel like there's
been a lot of people who have kind of copied
that formula too and done their own because it's something
they think good that's been successful. But what do you
think is different about entrepreneurship back then versus now? Besides
(16:53):
just the social media aspect, I.
Speaker 2 (16:55):
Think people are fancier now, which gets annoy I think
people coming on the set very often will see these
Sharks as a stop along the way to raise some
cash from and they leveraged themselves very high, and they
have a lot of people to answer to. I think
going back years ago, it was a lone entrepreneur who
walked in and was desperate for the money, and it
was somebody you could really work with a build their business. Fortunately,
(17:18):
this last year, I don't know what they've done differently
at Shark Tank. They went back to the streets and
collected all those souls to pitch on Shark Tank, so
you'll see a whole different nature of a person on
shark Tank A really clever one man band in some regards,
So you're going to buy in a lot more. But
it has changed, it's gotten more sophisticated. If one more
twelve year olds approaches me and tells me, what did
(17:40):
you do about that Jack Daniels deal that you did?
I don't believe you got the right return on the investment.
I'm like, how old are you?
Speaker 1 (17:47):
Kid?
Speaker 2 (17:48):
You know what's your burn rate? Another kid asked me
what's your burn rate in that business from les? Are
you kidding? I'm not even answering you.
Speaker 1 (17:56):
How do you think AI has asked? That level of
the playing failed as far as people are pitching.
Speaker 2 (18:00):
So far as people pitching, I don't believe we have
really seen the effect yet because so much of the
effectives happened in the last six months. So they recruit
those entrepreneurs like a year ago. But I think we'll
see them next year. I mean, AI is remarkable, but
we haven't seen any AI related businesses.
Speaker 1 (18:16):
You know, I think AI can also help people with
their pitches too, because and why wouldn't they take advantage
of that?
Speaker 2 (18:22):
But shark tank helps you with the pitches. He had
picked for Shark Tank. They help you write the pitch.
Speaker 1 (18:26):
Oh they do, Yeah, they do.
Speaker 2 (18:27):
They want great entertainment. They don't want somebody standing there
being boring. They want somebody who's going to hold the
TV attention.
Speaker 1 (18:34):
Can they do a take two then and everything in.
Speaker 2 (18:36):
The practice, Yes, But when they come on this show,
we had one guy, We had four young men come on.
They all pitched their business. The fourth guy fell on
the floor and he fainted. We thought it was an act,
so we didn't pay attention, but he actually had fainted.
So when we realized he needed medical attention, all four
men were taking off the stage. They never came back.
It's reality TV. You get one shot at Shark Tank.
Speaker 1 (18:55):
Who that is not a game?
Speaker 2 (18:57):
Seems a little me. I remember that night thing in
Awe too, that was such a nice kids.
Speaker 1 (19:01):
It does it make you more reluctant when there are
too many partners in the business.
Speaker 2 (19:05):
Always you have too many gods to serve. I mean
I bought it into a business that was a education
business just a few weeks ago on Shark Tank, and
all four of the partners, probably long under twenty five,
had different respective roles in the business. That makes great sense,
But very often when you ask the entrepreneur what do
you do? What do you do? What do you do?
You have the trivinal each other, and you realize half
(19:25):
the stest don't even needed there. Now you got to
buy the business, get rid of half the people who
are partners in the business, and it's a bad foot
to start off on.
Speaker 1 (19:32):
Yeah, the partnerships can really end a business that could
have been otherwise successful.
Speaker 2 (19:37):
More often than not, the businesses that don't do well
end on Shark Tank because of bad partnerships. They got
along when they're in Shark Tank, and then they don't
get along after Shark Tank.
Speaker 1 (19:47):
How would you tell people if say, you have a
business that's going really well, but you guys don't get along,
but you want to keep the business going, what advice
would you give to somebody whereas like, personality wise, we
don't mesh, but how can we I still work through this.
Speaker 2 (20:01):
What's beautiful is everybody's capable of being an entrepreneur in
their own if they wish, you should just go up
to your partner. I had this happen to me twice
in business as I own.
Speaker 1 (20:08):
Go up to your.
Speaker 2 (20:09):
Partner and say I'd like to buy you out or
you buy me. You want to agree on a price,
would you rather go? Would you rather stay? And then
you get rid of the partner. If you have a
bad partner early on the business, it's just going to
get more expensive and more difficult as it goes on,
because if you were unhappy, you could be assured that
he's unhappy.
Speaker 1 (20:24):
Now who did they buy you out or did you
buy them out both?
Speaker 2 (20:26):
I went both ways. I did more the buying out,
but I would be happy to be happy to just
sell out for a dollar to get rid of a
bad partnership.
Speaker 1 (20:34):
What kinds of it's a bad partnership to you?
Speaker 2 (20:36):
A lack of communication, not seeing eye to eye, not
envisioning where you want to bring the business. We very
often have people that come in. One partner wants to
sell his business as quick as he could, and the
other partner wants to own it with his family for
as long as you can. That's diametrically a posed that's
never going to work out. Then you enter a third
partner who wants to money on the business. It's terrible.
It's just not going to go anywhere.
Speaker 1 (20:57):
People tell you that it's really hard to make money
in a business early on, it's very rare. What do
you think is a good metric of time and when
is it time to say this just isn't working for
people who are listening that have been trying and trying
and trying, and it's either like I have to pour
more into this or I have to realize that maybe
this isn't working, Like, what are some ways that they
(21:17):
can reflect and figure out how to move forward.
Speaker 2 (21:19):
I would say the right attitude on the whole thing
starts right there. I think it takes more courage to
quit a business and to start a business. I mean,
you get applauded by everybody, your family and friends when
you start something. But if you're dragging along, you're not
making any money, nobody's watching you, and nobody's cheering on,
and you're not going to do well. So people are
reluctant to quit. I have had many of my shark
turning investments said to the person listening to don't work,
(21:42):
and let me tell you why. So makes great sense.
I don't want to discourage you. You're welcome to go,
but I'm bailing out here. I'm selling out. I don't
think it's going to work, and hopefully they do the
same and most instances as they do because the business
is working. I've got so many businesses I've been involved
in that seem like they're business, say not in business
and not making sales. It's just have a shingle on
(22:03):
the wall. It's hard to quit hard.
Speaker 1 (22:05):
It is really hard. And what also is haired is
if you have a day job and have that safety
net and you have a business as it ends up
being kind of like, yeah, a hobby. And you always
talk about the difference between having a hobby and having
a hobby.
Speaker 2 (22:19):
Gosh, it's so interesting. But if you're later you put
on top that I got to make some money on
this hobby. It's on a hobby anymore. It's a hardship.
Speaker 1 (22:28):
Now you have done so much, and we know, we've
googled your net worth, so we know Barbara Corkan has
don't believe what you read been extremely successful. But are
there things that are still on your bucket list of
things that you haven't done yet that you're like, Okay,
I have the freedom now to be able to do this.
Speaker 2 (22:45):
I'd like to travel more than I do usually six
eight weeks a year, but I've done that. My whole life.
I don't believe you have to work every single week.
You have to get away, as we talked about before.
But I think for me, I want to really build
a barber in the Pocket, which is my particular platform
for welcome entrepreneurs in because I know I do one
thing really well. I help people will it's just what
I do well with business. I can't help you with
(23:06):
your love life because I'm not so good at it either,
I can help you with your business. So we collect
all these people together, I'm barbering in the Pocket, and
I really feel like I pushed them ahead and they
hit the finish line, becadse of me, and so I'll
die feeling like a happy lady that I helped a
lot of people and to we all want to make
a difference. That's really what we're after, I think. In
the bottom line.
Speaker 1 (23:25):
Yeah, because people can ask you questions and you'll answer them.
Speaker 2 (23:28):
Oh and I'm not always right on them, right most
of the time.
Speaker 1 (23:30):
Now, you also don't believe that there is a real
work life balance. It's right, and so what balance do
you have now?
Speaker 2 (23:37):
I really don't have a balance. I never have. All
I'm good at is separating compartments. So when I'm at home,
I don't take business calls. And when I'm at work,
my kids don't ever call me. If they don't call
me for anything, they know I'm not going to answer them,
or unless they usually this is an emergency, then they
get through. My husband Bill, when he wants to reach me,
he calls them, says he's from the New York Times.
(23:57):
He tricks me once or twice, but not three times,
you know, and I separate. I think separating yourself is key,
and that's as close as you can get to balance.
Speaker 1 (24:06):
Do you think that your personal life earlier on seffered
because of business.
Speaker 2 (24:12):
I didn't have much of a personal life. I worked
since I was eleven.
Speaker 1 (24:15):
It's because of bit so it's deferate because of your business.
Speaker 2 (24:17):
Yeah, but you know what, everyone who worked for me
was my best friend. Maybe you're not supposed to say
that or have that anymore, but I had a thousand people.
I hired them all, I trained them all, I had
all the managers. We adored each other. I did whatever
I could for them. They were my family before I
had a family, So I treated them as though they
were my kids in every way. And what was I
going to do for them lately, you know. And then
once I had kids, I still I still supported them
(24:40):
in every way that I could, but it really became
sibling rivalry in my heart. You know, I have kids
and try to raise kids and try to raise the
kids that you work. It's a difficult thing to balance.
So that's why I say, this is no such thing
as balance.
Speaker 1 (24:53):
What do you say to people who say they're dating
somebody and they want to start a business together.
Speaker 2 (24:58):
Oh, I thought you were going to ask me for
dating advice, So I was gonna say.
Speaker 1 (25:00):
Yeah, no, no, no, I'm talking about work and dating
together because I can sometimes that goes way left. And
so what would you say to somebody that's like, Okay,
my significant other and I we want to start this
business together. He's good at this, I'm good at that.
Let's combine our things. But that's also a risky situation
because what happens when we're not getting along in our relationship,
(25:21):
but now we have this business together, or what happens
when that's all we talk about and we're not taking
time for other things, Well.
Speaker 2 (25:26):
That happens all the time. Very often. They proved very
good businesses don't stereotype it because a lot of people
join with people in their family and run very good
businesses or a love for and they run very good businesses.
I had a situation where I had my boyfriend and
business partner for seven years. Then he left me and
married my secretary. That's a bad endy. I mean that
was going to blow up the business, OKAYID, But what
(25:47):
happened then is fine. They fell in love, they went
off and had a bunch of kids, and I was
left alone and feel sorry for myself. However, I started
the corking group. Without that departure, I would have never
started the corking group. So bad things happen, but I
think of I learned the business for seven years solid
before I had to go out on my own, So
I don't think it's so bad.
Speaker 1 (26:05):
Everything happens for a reason.
Speaker 2 (26:07):
Sure, Well, if you want to be a fatalist, or
it happens wrong if you don't want.
Speaker 1 (26:11):
To be that is a yeah, And I've heard that
that is a wild story. But he really did do
you a favorite, like you said, because sometimes something like
that is the catalyst that you need to take a
big risk. Oh.
Speaker 2 (26:21):
I love when people are fired. I was fired from
like four jobs. When I'm on twenty two, I really
still don't know what I do did wrong. I wish
the boss had really told me what I did wrong,
gave me some line of bologney that I really didn't believe.
But you know what's great about ending to say, forced
you onto your new beginning. And that's what each of
my bosses who I didn't like did. They pushed me
onto something else. That's what my boyfriend Ray did. He
(26:42):
pushed me on to a second marriage it didn't work
out so well either bred, but also onto a new
business that I was able to build into an empire.
Thank god that happened.
Speaker 1 (26:52):
Right now, Listen, They always say that that is a
blessing when something gets removed from your life. That you know,
I believe that because I even for myself, just even
doing radio. The way this happened was because of a
bad breakup. And then I was like, well, it's a
long story, but I did climb through his window catch
him in bed with somebody else. But after that, I
(27:14):
was upset for like a week, and then I said,
you know what, I'm gonna switch jobs, switch my everything
and like try something new. And that actually gave me
the courage, because sometimes you get really comfortable and complacent
in a position and something like that can make you
just be like forget it all, like let me just
go for something that I normally wouldn't.
Speaker 2 (27:33):
Do it for you. But we're courage because you're shot
down in those moments and your ego isn't intact. It's
hard to get up and there you were standing back up.
Speaker 1 (27:41):
And ego sometimes is what does hold us back from
a feeling like we don't want to be told now
that we're gonna fail and it's okay, I.
Speaker 2 (27:51):
Deserve it, or we've worked hard for all these reasons.
Speaker 1 (27:53):
You know, how about those all buses and exes, do
they ever try to after all of that happened, Like
do they still say congratulations? Do they reach out or
did anybody try to circle the block?
Speaker 2 (28:04):
No? No, not at all. He never left his wife,
so we never came back in that regard.
Speaker 1 (28:09):
If you're wondering, okay, who hired the secretary?
Speaker 2 (28:12):
I hired the secretary, and you know there's a lesson
that I never hired pretty secretary. Again, she was twice
as pretty as I was, said lone blonde hair and
she's ten years younger. What was I thinking? Of course
she left with her and.
Speaker 1 (28:22):
Oh my goodness, well listen, well, Barbara Corkan, I appreciate
you so much, you know, like I said, I watch
everything that you do. Thank you, and I definitely am listen.
I'm always impressed by and I pay attention and I'm
always like, Okay, let me see what Barbara Corkan has
to say about this. And what I love is that
you're also very present. You're always still out here giving advice,
letting people know what it is that you're doing. You're
(28:43):
so generous with your time, and I've been trying to
get you up here. Cheryl, who's a friend of mine,
I've been like, when can I get Barbara Corkan on
my She.
Speaker 2 (28:51):
Told me not to go on the show over and
over again.
Speaker 1 (28:53):
I believe it. We're going to talk after this, but
I'm always like, she's over here, She's over here. Why
isn't she over here? So I appreciate it, but I
know you also have a super busy schedule. And so
for everybody to know, Shark Tank is back. It's season sixteen.
I saw your You're sixteen years ago versus today.
Speaker 2 (29:11):
So different. You think so I think. So I've had
three face looks along the way, so my face looks
the same, but my body's very different.
Speaker 1 (29:18):
Well, you look like you're in great shape. I do
want to say that you know what facelifts? Okay, I've
been talking about that a lot lately with girl.
Speaker 2 (29:26):
I know every surchon New York what they charge and
who's good at what?
Speaker 1 (29:30):
Oh my goodness, everybody has a specialty. All right, Well,
Barbara in your Pocket? So can we talk about that
with Barbara in your Pocket too? If anybody has questions, Yeah,
of course we can. Because I had an idea to
pitch to you for yourself. I'm gonna listen now, you
had this podcast and you would answer people's questions, right,
And I love that part of it because sometimes those
are the same questions that I would have. So tell
(29:52):
us explain to us for people listening that maybe don't
know about Barbara in your Pocket what that is.
Speaker 2 (29:56):
This is very interactive. If someone's starting in business, they
have a dream, obviously, they run into obstacles, they feel alone,
they don't know who to turn to. I'm not saying
I'm a savior, but what I do really well is
give good advice on business. So they come to me
in a collective group, a lot of people together, and
they all started asking questions. And usually when I ask
the answer a question, well that has meeting it for
(30:17):
one person, ten people respond to me it was just
what they had on their mind. So what I try
to do is see what's current, see what's bothering people,
and make sure they move on. Because people hold themselves up,
you know, they need to push someone, push you broad and.
Speaker 1 (30:30):
I like to do that. Well. Listen, I think that
Barbara in your Pocket could kind of mesh well with
bringing back the podcast. I think you might be right
because you don't necessarily have to have a guest. The
people who are asking you questions that have questions just
like I do, are the guests. And then you can
focus on different things that are really relevant today. Like
you said, ten people have that same question and they
can benefit from it. And then you can expand even
(30:50):
further for everyone to hear. And then you make extra
money doing that too, because you know, we like that you.
Speaker 2 (30:55):
Little hustling, my god, but it's a great idea.
Speaker 1 (30:58):
And then the podcasting word in your pocket so same work.
Speaker 2 (31:02):
Okay, I'll let you invest fifty thousand dollars in that idea.
Speaker 1 (31:05):
I would bet my money on you, Barbara Corkran. I'll
take you fifty right now, okay, Cheryl, Cheryl now. But honestly,
I do think that you need to you know, like
I said I would.
Speaker 2 (31:18):
I'll rethink that that's really smart. Okay, like moving on
twenty degrees left. That's all it is.
Speaker 1 (31:23):
You guys, you heard it here first, Barbara Corkran and say.
Speaker 2 (31:25):
I'm not going to credit you ever if it's so
when you don't get.
Speaker 1 (31:28):
It, listen, and I don't mind. And you know, maybe
that's to my disadvantages that a lot of times I'll
do things and help people and I don't ever really
like say, it's hard for me to ask. This happened
to me one time, right, I actually connected to people.
Somebody was trying to do a deal with a huge artist,
and I connected the brand with the person I didn't
(31:49):
and I didn't think to get anything out of it. Yeah,
I broke it, but it was really just like, hey,
you know this person, you know, can you lick me.
Speaker 2 (31:55):
With that connection?
Speaker 1 (31:57):
Yeah? So I'm gonna tell you the truth. This was
the biggest check I ever got back then they actually
ended up paying me one hundred and fifty thousand dollars
good for you, and that I didn't even ask. And
it actually is how I ended up buying my first house.
That was part of the money that I used for
that at that same time. But that was a lesson
for me because sometimes I just do things just out
(32:20):
of the goodness and kindness, and it's hard. I don't
know if it's a harder thing for women to do it,
because I find I feel like men are a lot
better everything, like, well, I need some money for that.
Speaker 2 (32:29):
Women don't ask for raises. Ever, I have found that
running thousand men, not women teams, not men teams, but
women teams, they don't ask for race. I get two
men there in asking for a raise.
Speaker 1 (32:39):
Automatically and negotiate our salaries. And you know, I had
read an article and Marie clear about women not asking
for raises or negotiating their salaries, and I went in
and did it you article? And yes, and I actually
got a forty percent raise when I was as serious
game the price I won, No, I just I actually
did not name the price, and I got I wasn't
(33:01):
making much though, so I went from yeah, very much.
Speaker 2 (33:06):
You.
Speaker 1 (33:07):
Well, you know what, I think, I started off so
low because I didn't negotiate. And so by the time
I had finished my first year in radio and had
really proven myself. It was my first time doing radio
because and I know you also say this like not
to overvalue yourself at times it is important to negotiate
what you deserve, but also to know what that what
you're worth in the market. Yes, and I had never
(33:28):
done radio, so this was my first job in radio,
so I took the low salary knowing that I was
at some point.
Speaker 2 (33:34):
It was the start.
Speaker 1 (33:35):
Yeah.
Speaker 2 (33:35):
It makes sense. Actually, hm hmm, it doesn't. It makes
great sense. Many people do.
Speaker 1 (33:40):
Yeah.
Speaker 2 (33:40):
Yes, that finally you asked for the raise and many
people don't.
Speaker 1 (33:44):
Yeah. And I got a bonus on top of it,
and I didn't even ask for it. Wow. Yeah.
Speaker 2 (33:48):
And then you must have a nice way of asking.
You know what I learned.
Speaker 1 (33:52):
You don't ask because you want it. You asked because
you deserve it. And I actually put together a binder
of all the reasons why I deserved a raise. Yeah.
And I was also when I read this. It was
in Marie Claire. It also says to say, I love
being here, and I want to continue here absolutely, and
if and if they say no, then ask if there's
other things that they can offer you in lieu of
(34:14):
the finances of course.
Speaker 2 (34:15):
Yeah, it looks like Marie Claire.
Speaker 1 (34:17):
Uh well, thank you again, okay, And so I'm excited
for this. Can't wait for the podcast to relaunch with
Barbara and your Conka too. Okay, good enough, it's way up.
What's up this way for Angela?
Speaker 2 (00:04):
Yee?
Speaker 1 (00:05):
And how exciting for me. Barbara Corkran is here with
me today.
Speaker 2 (00:09):
Happy to be here, Angela.
Speaker 1 (00:10):
I'm so happy because, first of all, I watch everything
that you do online, and so I told you I
have my real estate license. I've been investing in real estate,
so I'm always paying attention to what you're saying about
the real estate market. And sometimes it's hard when you're
looking at things online because you're like, Okay, Redfinn says this,
Julia says this, Barbara Corkran says this. So I always
kind of just try to piece it all together. And yes,
(00:33):
you know, so I want to talk about, first of all,
congratulations Season sixteen.
Speaker 2 (00:38):
Sixteen might as well be season one hundreds.
Speaker 1 (00:41):
Of Shark Tank and you're still having a good time.
How is it now that you guys started and Mark
Cuban isn't there.
Speaker 2 (00:46):
It's a little bit said with Mark going. But I'll
tell you the truth. We did our best season because
we were all trying to show off this year how
smart we were in front of Mark before it even left.
So I think you're going to see a lot of
good Shark Tank this year, more than ever.
Speaker 1 (01:00):
Right, I'm excited. Do you guys film the whole season
ahead of time?
Speaker 2 (01:03):
And they do for two in two particular times of
the year in June and then again in September. But
we do endless days and get it in the camp,
so it probably takes about two weeks total if we're
to counsel when the days is. That's what I'm trying
to find. Your days.
Speaker 1 (01:18):
Yeah, those are long days.
Speaker 2 (01:19):
They had long days and by the end of the
day you don't really like each other much.
Speaker 1 (01:23):
Is it better you think for you guys when people
come in earlier pitching or if they come towards the
end of the day, because it has to get exhausting both.
Speaker 2 (01:29):
I think afternoon after lunch works great because we're all
feeling satisfied before lunch. We never buy a thing. God
forbid you. The entrepreneur that marches onto the set right
before lunch. Nothing you say we're gonna.
Speaker 1 (01:41):
Like and everybody gets Cousin Mayin's laps there and yeah.
Speaker 2 (01:44):
All we do with Becusset, it's been lots to the set.
We do that a lot with the successful businesses, and
they love it because they love to show off. Look
at me, I've made it.
Speaker 1 (01:52):
Yeah, No, that's a big deal. Well, I do want
to talk today about everything that's been going on in
the real estate market too, because that was one of
my main you know, I just got my CVA for
a building I got in midtown Detroit. I just got
it earlier this week actually, wow. Yeah, And it was
a long journey to make that happen, in a lot
of obstacles. And I know you've said that for real
estate you just got to get in there.
Speaker 2 (02:14):
You got to get in there.
Speaker 1 (02:15):
That is your biggest piece of advice.
Speaker 2 (02:17):
Once you get in, you can't get it out. You
might as well do a good job, right.
Speaker 1 (02:20):
Yeah, No, absolutely, And people have been really nervous. People
have been nervous because of interest rates. They've also been
people who own homes have been nervous to sell them
right now because they're not going to get a better
interest rate than But they.
Speaker 2 (02:32):
Agree with that. I understand it.
Speaker 1 (02:35):
Yeah. And so how have you been handling your portfolio?
Speaker 2 (02:37):
Well, I think there's times to buy in the market.
You can't really sharpshoot the market where you're exactly time
it right. But I'd like to get warm around when
I came sharpshoot or pretend to sharpshoot better. And right
now this month where and I think it's probably the
best month in the last two or three years. And
the reason for that is exactly what you cited. There
so much confusion in the market. Interest rates went up
when everybody thought they would come down without really a
(02:59):
big explanation. People who are on the sidelines are sitting
on the sidelines when they wanted to. They had decided
only a couple of months ago they were ready to
jump in. So you have a quietness in the market
this month before the election, and if you could jump
in there, a lot of people are going to take
bids that wouldn't have taken them two months ago because
of the uncertainty in the market. I buy a lot
of properties around different cities that I think are up
(03:21):
and coming cities, kind of like I used to think
Brooklyn was an upcoming city about Manhattan, you know, and
then it was taken anything but up and coming anymore.
So I always looking for those up and coming cities,
and I can tell you they're hard to get good
deals in a really great city. But in the last
couple of weeks I've been hearing from a lot of
people saying yes on bids that they wouldn't have said
yes before. I it's a great time to get out
(03:41):
right this month. This month, once the election is done,
people will all guess where they're right or wrong, which
direction we're going in.
Speaker 1 (03:48):
I mean, I have no idea what's about to happen
with this election.
Speaker 2 (03:51):
You were perfect you You're just involved in new property now.
I don't know if that was intended or just.
Speaker 1 (03:57):
Having a long journey, you know. And I want to
say this too, because real estate is While I love
real estate and I've done some great things. I have
two Brownstones in Brooklyn, and I have.
Speaker 2 (04:07):
When did you should buy those?
Speaker 1 (04:09):
One of them? I bought in twenty maybe like fourteen
years ago.
Speaker 2 (04:14):
Wow, you're rich.
Speaker 1 (04:15):
Yeah, it didn't.
Speaker 2 (04:16):
I don't even have to ask you.
Speaker 1 (04:17):
Where as a bed stye? And then I have I
also have a condo in Williamsburg, and then I have
an airbnb And the catskills get you a little hustle
to you, I've been I've been doing my things, but
it's also been a learning process. From the first time
that I bought one. That's what made me feel actually
secure enough to be able to buy other things. Once
I bought my first property, it was a two family, yes,
and that was property in the world. That was important
(04:38):
because I didn't want to handle a lot of tenants.
But I think just one really helped me pay my mortgage.
Speaker 2 (04:43):
Well, you were, you were living in the same building. Yeah,
a lot of people don't know a two family house.
The best investments always the market because someone will pay
your rent. Yeah, what's roll with.
Speaker 1 (04:52):
That or at least part of your part of your market? Yeah, generally, Yeah,
But I do want to say that everything doesn't always
work out, and so you know, even in particular with
this building in Detroit, there's a lot of things that
could happen, Like there was a covenant on it that
we weren't aware of for ninety nine years that we
had to figure out how to exit and taxes were
able to yes, And it was a long journey to
(05:14):
be able to make that happen, and we weren't sure.
So sometimes it's not a short shot. What are some
things in real estate that you've done that maybe didn't
happen the way that you would have liked.
Speaker 2 (05:22):
Well, most of the things that wound up really great
for me were really done by accident. I remember I
bought my first two townhouses in Manhattan, five story buildings
with twenty tenants in each. You no, it sounds like
like great envisioning so many years ago. But I couldn't
find an office to house a new real estate office
downtown Manhattan, so I had to buy something to get
a new office. And that wound up like quadrupling in
(05:45):
prices within two years. As I recall, it was amazing,
and it just keeps going up. I keep remortgaging it
and spending the money. I don't pay taxes on that,
taking the cash shoveling out, shoveling out. But then I
have to say, the very first thing I ever bought
was a mistake. I put a ten unit, a small
I guess a hotel you'd call it, or a motel
(06:06):
up in the country because I was looking for something
to give my first husband to do, because he was
very busy. And I bought that and I asked, let
me see the payroll, And the payroll made perfect sense.
We were going to make a lot of money. But
I never asked to see the rent receipts. Nobody was
paying rent. There was a rent roll, but nobody paid,
so we went under the water on that one for
probably two years before we came out hole.
Speaker 1 (06:28):
What do you think about the laws for you know,
I think that as a homeowner sometimes it's very hard
to deal with tenants who aren't paying the rent and
trying to either get them out, and I have sympathy
for people who are having to have times. But then
there are some people who are just not paying their rent.
Speaker 2 (06:43):
Absolutely. I have found over the years the guy who's
really in need all whose paces rent right, I really
haven't had a problem there. You know, you could extend
a little credit and get through the bad time. But
the wise guys I've gotten involved with over the years,
a wealthy kid or somebody in Greenwedge help me off
for rent for like nine months, didn't pays rent. It's
always somebody who's more affluent.
Speaker 1 (07:04):
I think that has the right to meet the system.
Speaker 2 (07:06):
It knows how to play.
Speaker 1 (07:07):
You.
Speaker 2 (07:07):
Yeah, it's it's unfortunate because if you let it, it
would sour your attitude of real estate. Yet if you
don't let to sour your attitude and realize most people
are good, you can make a ton of money in
a very slow way, but you wind up very very rich.
Speaker 1 (07:20):
Do you think that they need to figure something out
to make it better for because some homeowners can't even
pay their mortgage if the rent doesn't get paid. And
so I don't know how they make that a better
process for people who can actually afford to pay the rent,
because even for me, I had to evict a tenant
or start that process, and it's their properties, right, yeah,
And it's a long process, and they weren't paying the rent,
(07:42):
and then even then you still have to give them
three months notice, and then even after that, who knows
if they'll it's just such a.
Speaker 2 (07:47):
Click become a holdover tenant despite the court order.
Speaker 1 (07:50):
Yeah, yeah, So I don't know, like, what would you
do in a situation like that? Maybe send somebody over there.
Speaker 2 (07:56):
To kill them?
Speaker 1 (07:57):
Me me not.
Speaker 2 (07:58):
I don't say what were you sending people over for?
Speaker 1 (08:01):
Maybe act like I'm going to kill them though. Oh
that's a little different, little different, a little different, you know.
Speaker 2 (08:05):
I think you're always as a landlord, balancing between your
empathy and your heart and what you need to pay
your own bills on the building. I think when it
comes down to losing money because the tenant's not paying rent,
people get tough and they usually stay right away. You
got to get out and start the movement legally to
get rid of the tenant.
Speaker 1 (08:21):
Yeah, that's all you can do now. Also, you worked
in another business that's a tough business, restaurant business. Yes,
I did talk to me about what you learn from
that experience, because people would tell you the restaurant business
is like the toughest business to get into.
Speaker 2 (08:36):
It. Well, when you say restaurant business, I didn't own
a restaurant business. It did work as a waitress. Many businesses,
of course, and waitressing is great. It's probably a good
parallel to real estate sales. You're on a commission basis.
You smile, you make friends, deliver great service, you get
big tips. If you don't, you don't get any tips.
The hours along you think you're going to go in
and just get the job done. No, it's excruciatingly, it
(08:58):
just makes you tired. A tough business, you know. And
with being a waitress, if you're a good waitress, you
can call your own shots because there's so few good waitresses.
You get a job anywhere. It's just like you can
on a real estate agent. If you're making money.
Speaker 1 (09:11):
You know, I want to ask you, So you've never
thought to invest into or do you feel like that's
not you know, like I said, the restaurant business, you've
seen it from the inside, but that's something you've ever
thought to invest And I'm sure people have approached to
you about that.
Speaker 2 (09:24):
You know what it is with the restaurant businesses. We
hear them on Shark Tanks and I have invested in
a few of them. But what's difficult to do is
it takes a lot of cash to run a restaurant business.
It's usually an entrepreneur that's working all their hours at
the restaurant and very often there really isn't room for
another investor. You know, they don't really want a third
partner in there tell them what to do or giving
a third of their profit to the investor. So it's
(09:45):
a hard business to get into unless you're owning yourself,
and you have to.
Speaker 1 (09:48):
Be there a lot because to be that micro managing
is a lot. And now for people, are the average
person right who wants to invest in a business, and
they watch Shark Tank and they watch people come on
and pitch. How do you know what to invest in?
If you could tell the average person that's like, Okay,
this person is studying a business. They want me to
invest in it. What should they be looking for?
Speaker 2 (10:09):
You mean someone pitching a business?
Speaker 1 (10:11):
No, somebody who's looking to invest because those people are
figuring out how to grow their portfolio, and they're like, Okay,
I have a little extra cash. I do want to
invest in something, but I don't know how to go
about it. I don't even know how to structure this deal.
I don't even know what I should be asking for somebody,
but I do want to get in the game.
Speaker 2 (10:27):
Yeah. I think it's a very smart idea to look
at it with one eye closed, and the eye closes
towards the business. You should first really examine the entrepreneur.
Who do you have in front of you. What's their
track record? Do they have a track record? If they don't,
do you believe them? Have they worked hard? What else
have they done? What have they done before? And what
have they failed at? A lot of people don't tell
you what they failed at. I've invested in a few
(10:47):
businesses where I found out four years later they had
three other businesses they failed at. That's a bad enough report.
Cut a lot run and I know that before I
got my money involved, right, But no, you have to
focus on the entrepreneur, and after that you look at
the business because it's I've really lost so much money
really with good businesses, but I've made so much money
with smart entrepreneurs. Right, we focus on that the best.
Speaker 1 (11:07):
You gotta take a chance. Now on the flip side,
what makes a great pitch for somebody?
Speaker 2 (11:12):
A great pitch is somebody telling me how I'm gonna
make money, and very few people even think to tell
me how I'm gonna make money. That's gonna get my
interest right up front. A great pitch is someone has
enthusiasm and has seemingly enough energy to hit the finish line,
you know, you get into I see so many entrepreneurs
that don't have energy, and that's just never gonna work.
And also, a great entrepreneur is an entrepreneur who's been
(11:32):
tested through some kind of durists and come through as
a winner because he really hits so many obstacles building
a business. You just have to know how to get
back up and recover. Kind of like the jack in
the box. You have to jump back up and say,
hit me again, hit me again. Because every entrepreneur is
persistent or they're never gonna make it as an entrepreneur.
It just doesn't work that way.
Speaker 1 (11:51):
Do you look for a business where I mean, and
we talked about it, like show me how you're gonna
make me some money?
Speaker 2 (11:57):
Right?
Speaker 1 (11:58):
At what point? Because sometimes you feel, even for me,
like for business that I have, I before I try
to get investors, I want to make sure that I
actually have grown my business to a point where I
feel like it has more value than getting an investment
early on. But some people can't get to that point
without an investment early on. So when you're telling somebody
like say, I have a business right and I'm looking
(12:19):
for an investor, at what point should I say it's
time as opposed to let me get a loan from
the bank.
Speaker 2 (12:26):
I think you should be getting a loan from the
bank as long as you can because so many people
selling stock early. I almost sold my business, Corkoran Group,
five years before I actually sold it to Merrill Lynch
and they offered me one hundred thousand dollars when I
was just for catding.
Speaker 1 (12:39):
Wow.
Speaker 2 (12:40):
I couldn't believe my good fortune of Merrill Lynch wanting
my business.
Speaker 1 (12:43):
For one hundred thousand dollars.
Speaker 2 (12:45):
I sold it five years later for a sixty six million,
So what a shame not even contemplated that offer, And
thank god.
Speaker 1 (12:51):
I turned them are what made you turn them down?
Speaker 2 (12:53):
Good instinct? I thought maybe I could do this without them?
Am I really that desperate? Let me try one more thing?
And in the trying one more thing, you always find
an answer. Everybody finds an answer just trying, try and trying,
And it's kind of like the Cinderell syndrome. Somebody will
come in and rescue me. It doesn't really work that way.
You get an investor who has his own opinion as
how you should run the business. He wants his money,
(13:14):
puts his nose in the job. You have a different perspective.
Now you have to please investor. I'm just not a
big believer in it.
Speaker 1 (13:20):
I was talking to a founder earlier and she was
just discussing how everybody who's been really successful and self
made successful has these stories of where they've just been
back against the wall, savings completely gone, not knowing how
they're going to make it happen.
Speaker 2 (13:37):
Yes, of course part of building a business.
Speaker 1 (13:40):
And so for people who deal with that, because I
feel like self care especially you know, years ago wasn't
talked about as much as it is today, and.
Speaker 2 (13:48):
Taking people still don't do it.
Speaker 1 (13:49):
Yeah, and even taking days off. People feel like if
you take days off, then you're not working hard enough.
You know what was that like for you when you
were growing first growing Corkoran.
Speaker 2 (13:58):
Quite the contrary, because I realized early on that I
was no good unless I was relaxed. So I would
certainly run seven days a week for many weeks in
a row, but I always went to Jones's speech for
a whole week solid, just my little bathing suit, my
little sandwich. Just go to Jones Beach because that's what
I could afford. But you know what, while I was
at Jilones's beech, I thought of a billion ideas. I
got revived, I got enthusiasm, I got back, and I
(14:20):
motivated people at food. It's never happened at my desk.
If I kept my nose on my desk, I never
had a good creative idea of my life at my desk.
I always found it on the outside. So I think
I think people have to realize I can't be a
dog that works all the time if they want to
be successful. I haven't met anyone you need to have
fun at work. You just need to get away to
refresh yourself self care.
Speaker 1 (14:40):
As you put it, What do you think then about
since we just talked about this and about self care,
what do you think about working from home? Because a
lot of people now are not looking for it to
going back into the office. Some people are saying, I'm
not working for this jab if I have to go
in there, I only want to go in two days
a week.
Speaker 2 (15:00):
Out of two ways. I'm looking at it from the
employee's vantage point, and I get it. Why would you
want to get in a car and go to work
and where we stole that time going in just to
come home again. It doesn't make any sense. Everybody wants
to stay at home. Whether people are more productive at home,
I'm not sure. I'm buying it as a As a boss,
you know, I kind of like when I'm in the
office to see all the people that work for me
(15:20):
in the office working with me. If I'm not in
the office and I'm taking those two days off or
working myself outside the city on some business related thing,
I like my people to know they don't have to
come in. But when I'm in I like my people.
Speaker 1 (15:32):
In Okay, because it is. I never could have envisioned
that people could be like I'm doing a hybrid work
from home. When I first started in this business, it
was like you have to be here.
Speaker 2 (15:42):
But you know, we've proved to everybody could be done.
Speaker 1 (15:44):
Yeah. Yeah, we didn't have a choice for a period
of time.
Speaker 2 (15:47):
Yes, right.
Speaker 1 (15:47):
What do you think having done sixteen years at start
Tank is different about how our entrepreneurs were pitching when
you guys first started versus how things are now because
things have changed a lot, even as far as social media.
As far as that's like a whole different metric for
people and a whole different form of advertising. But some
people hate social media.
Speaker 2 (16:07):
Well, if they hate social media, they can't be in
business because everything is played out on social media. It's
like the giant bieldboard of years ago. If you're not
going to advertise not social media, you're not going to
be in business. I always buy entrepreneurs at are greater
social media. I don't even care what business are in. Wow,
they have that game. They're gonna hit the drum and
get it well known their brand. They're gonna push it forward.
(16:27):
But no, it's not an extra anymore. Social media it
is the main playing field. You're absolutely right.
Speaker 1 (16:32):
So when you think about people pitching, you know when
you guys first started the show, because I know you
couldn't have envisioned it lasting never as long as it's
thought it last year maybe, And I feel like there's
been a lot of people who have kind of copied
that formula too and done their own because it's something
they think good that's been successful. But what do you
think is different about entrepreneurship back then versus now? Besides
(16:53):
just the social media aspect, I.
Speaker 2 (16:55):
Think people are fancier now, which gets annoy I think
people coming on the set very often will see these
Sharks as a stop along the way to raise some
cash from and they leveraged themselves very high, and they
have a lot of people to answer to. I think
going back years ago, it was a lone entrepreneur who
walked in and was desperate for the money, and it
was somebody you could really work with a build their business. Fortunately,
(17:18):
this last year, I don't know what they've done differently
at Shark Tank. They went back to the streets and
collected all those souls to pitch on Shark Tank, so
you'll see a whole different nature of a person on
shark Tank A really clever one man band in some regards,
So you're going to buy in a lot more. But
it has changed, it's gotten more sophisticated. If one more
twelve year olds approaches me and tells me, what did
(17:40):
you do about that Jack Daniels deal that you did?
I don't believe you got the right return on the investment.
I'm like, how old are you?
Speaker 1 (17:47):
Kid?
Speaker 2 (17:48):
You know what's your burn rate? Another kid asked me
what's your burn rate in that business from les? Are
you kidding? I'm not even answering you.
Speaker 1 (17:56):
How do you think AI has asked? That level of
the playing failed as far as people are pitching.
Speaker 2 (18:00):
So far as people pitching, I don't believe we have
really seen the effect yet because so much of the
effectives happened in the last six months. So they recruit
those entrepreneurs like a year ago. But I think we'll
see them next year. I mean, AI is remarkable, but
we haven't seen any AI related businesses.
Speaker 1 (18:16):
You know, I think AI can also help people with
their pitches too, because and why wouldn't they take advantage
of that?
Speaker 2 (18:22):
But shark tank helps you with the pitches. He had
picked for Shark Tank. They help you write the pitch.
Speaker 1 (18:26):
Oh they do, Yeah, they do.
Speaker 2 (18:27):
They want great entertainment. They don't want somebody standing there
being boring. They want somebody who's going to hold the
TV attention.
Speaker 1 (18:34):
Can they do a take two then and everything in.
Speaker 2 (18:36):
The practice, Yes, But when they come on this show,
we had one guy, We had four young men come on.
They all pitched their business. The fourth guy fell on
the floor and he fainted. We thought it was an act,
so we didn't pay attention, but he actually had fainted.
So when we realized he needed medical attention, all four
men were taking off the stage. They never came back.
It's reality TV. You get one shot at Shark Tank.
Speaker 1 (18:55):
Who that is not a game?
Speaker 2 (18:57):
Seems a little me. I remember that night thing in
Awe too, that was such a nice kids.
Speaker 1 (19:01):
It does it make you more reluctant when there are
too many partners in the business.
Speaker 2 (19:05):
Always you have too many gods to serve. I mean
I bought it into a business that was a education
business just a few weeks ago on Shark Tank, and
all four of the partners, probably long under twenty five,
had different respective roles in the business. That makes great sense,
But very often when you ask the entrepreneur what do
you do? What do you do? What do you do?
You have the trivinal each other, and you realize half
(19:25):
the stest don't even needed there. Now you got to
buy the business, get rid of half the people who
are partners in the business, and it's a bad foot
to start off on.
Speaker 1 (19:32):
Yeah, the partnerships can really end a business that could
have been otherwise successful.
Speaker 2 (19:37):
More often than not, the businesses that don't do well
end on Shark Tank because of bad partnerships. They got
along when they're in Shark Tank, and then they don't
get along after Shark Tank.
Speaker 1 (19:47):
How would you tell people if say, you have a
business that's going really well, but you guys don't get along,
but you want to keep the business going, what advice
would you give to somebody whereas like, personality wise, we
don't mesh, but how can we I still work through this.
Speaker 2 (20:01):
What's beautiful is everybody's capable of being an entrepreneur in
their own if they wish, you should just go up
to your partner. I had this happen to me twice
in business as I own.
Speaker 1 (20:08):
Go up to your.
Speaker 2 (20:09):
Partner and say I'd like to buy you out or
you buy me. You want to agree on a price,
would you rather go? Would you rather stay? And then
you get rid of the partner. If you have a
bad partner early on the business, it's just going to
get more expensive and more difficult as it goes on,
because if you were unhappy, you could be assured that
he's unhappy.
Speaker 1 (20:24):
Now who did they buy you out or did you
buy them out both?
Speaker 2 (20:26):
I went both ways. I did more the buying out,
but I would be happy to be happy to just
sell out for a dollar to get rid of a
bad partnership.
Speaker 1 (20:34):
What kinds of it's a bad partnership to you?
Speaker 2 (20:36):
A lack of communication, not seeing eye to eye, not
envisioning where you want to bring the business. We very
often have people that come in. One partner wants to
sell his business as quick as he could, and the
other partner wants to own it with his family for
as long as you can. That's diametrically a posed that's
never going to work out. Then you enter a third
partner who wants to money on the business. It's terrible.
It's just not going to go anywhere.
Speaker 1 (20:57):
People tell you that it's really hard to make money
in a business early on, it's very rare. What do
you think is a good metric of time and when
is it time to say this just isn't working for
people who are listening that have been trying and trying
and trying, and it's either like I have to pour
more into this or I have to realize that maybe
this isn't working, Like, what are some ways that they
(21:17):
can reflect and figure out how to move forward.
Speaker 2 (21:19):
I would say the right attitude on the whole thing
starts right there. I think it takes more courage to
quit a business and to start a business. I mean,
you get applauded by everybody, your family and friends when
you start something. But if you're dragging along, you're not
making any money, nobody's watching you, and nobody's cheering on,
and you're not going to do well. So people are
reluctant to quit. I have had many of my shark
turning investments said to the person listening to don't work,
(21:42):
and let me tell you why. So makes great sense.
I don't want to discourage you. You're welcome to go,
but I'm bailing out here. I'm selling out. I don't
think it's going to work, and hopefully they do the
same and most instances as they do because the business
is working. I've got so many businesses I've been involved
in that seem like they're business, say not in business
and not making sales. It's just have a shingle on
(22:03):
the wall. It's hard to quit hard.
Speaker 1 (22:05):
It is really hard. And what also is haired is
if you have a day job and have that safety
net and you have a business as it ends up
being kind of like, yeah, a hobby. And you always
talk about the difference between having a hobby and having
a hobby.
Speaker 2 (22:19):
Gosh, it's so interesting. But if you're later you put
on top that I got to make some money on
this hobby. It's on a hobby anymore. It's a hardship.
Speaker 1 (22:28):
Now you have done so much, and we know, we've
googled your net worth, so we know Barbara Corkan has
don't believe what you read been extremely successful. But are
there things that are still on your bucket list of
things that you haven't done yet that you're like, Okay,
I have the freedom now to be able to do this.
Speaker 2 (22:45):
I'd like to travel more than I do usually six
eight weeks a year, but I've done that. My whole life.
I don't believe you have to work every single week.
You have to get away, as we talked about before.
But I think for me, I want to really build
a barber in the Pocket, which is my particular platform
for welcome entrepreneurs in because I know I do one
thing really well. I help people will it's just what
I do well with business. I can't help you with
(23:06):
your love life because I'm not so good at it either,
I can help you with your business. So we collect
all these people together, I'm barbering in the Pocket, and
I really feel like I pushed them ahead and they
hit the finish line, becadse of me, and so I'll
die feeling like a happy lady that I helped a
lot of people and to we all want to make
a difference. That's really what we're after, I think. In
the bottom line.
Speaker 1 (23:25):
Yeah, because people can ask you questions and you'll answer them.
Speaker 2 (23:28):
Oh and I'm not always right on them, right most
of the time.
Speaker 1 (23:30):
Now, you also don't believe that there is a real
work life balance. It's right, and so what balance do
you have now?
Speaker 2 (23:37):
I really don't have a balance. I never have. All
I'm good at is separating compartments. So when I'm at home,
I don't take business calls. And when I'm at work,
my kids don't ever call me. If they don't call
me for anything, they know I'm not going to answer them,
or unless they usually this is an emergency, then they
get through. My husband Bill, when he wants to reach me,
he calls them, says he's from the New York Times.
(23:57):
He tricks me once or twice, but not three times,
you know, and I separate. I think separating yourself is key,
and that's as close as you can get to balance.
Speaker 1 (24:06):
Do you think that your personal life earlier on seffered
because of business.
Speaker 2 (24:12):
I didn't have much of a personal life. I worked
since I was eleven.
Speaker 1 (24:15):
It's because of bit so it's deferate because of your business.
Speaker 2 (24:17):
Yeah, but you know what, everyone who worked for me
was my best friend. Maybe you're not supposed to say
that or have that anymore, but I had a thousand people.
I hired them all, I trained them all, I had
all the managers. We adored each other. I did whatever
I could for them. They were my family before I
had a family, So I treated them as though they
were my kids in every way. And what was I
going to do for them lately, you know. And then
once I had kids, I still I still supported them
(24:40):
in every way that I could, but it really became
sibling rivalry in my heart. You know, I have kids
and try to raise kids and try to raise the
kids that you work. It's a difficult thing to balance.
So that's why I say, this is no such thing
as balance.
Speaker 1 (24:53):
What do you say to people who say they're dating
somebody and they want to start a business together.
Speaker 2 (24:58):
Oh, I thought you were going to ask me for
dating advice, So I was gonna say.
Speaker 1 (25:00):
Yeah, no, no, no, I'm talking about work and dating
together because I can sometimes that goes way left. And
so what would you say to somebody that's like, Okay,
my significant other and I we want to start this
business together. He's good at this, I'm good at that.
Let's combine our things. But that's also a risky situation
because what happens when we're not getting along in our relationship,
(25:21):
but now we have this business together, or what happens
when that's all we talk about and we're not taking
time for other things, Well.
Speaker 2 (25:26):
That happens all the time. Very often. They proved very
good businesses don't stereotype it because a lot of people
join with people in their family and run very good
businesses or a love for and they run very good businesses.
I had a situation where I had my boyfriend and
business partner for seven years. Then he left me and
married my secretary. That's a bad endy. I mean that
was going to blow up the business, OKAYID, But what
(25:47):
happened then is fine. They fell in love, they went
off and had a bunch of kids, and I was
left alone and feel sorry for myself. However, I started
the corking group. Without that departure, I would have never
started the corking group. So bad things happen, but I
think of I learned the business for seven years solid
before I had to go out on my own, So
I don't think it's so bad.
Speaker 1 (26:05):
Everything happens for a reason.
Speaker 2 (26:07):
Sure, Well, if you want to be a fatalist, or
it happens wrong if you don't want.
Speaker 1 (26:11):
To be that is a yeah, And I've heard that
that is a wild story. But he really did do
you a favorite, like you said, because sometimes something like
that is the catalyst that you need to take a
big risk. Oh.
Speaker 2 (26:21):
I love when people are fired. I was fired from
like four jobs. When I'm on twenty two, I really
still don't know what I do did wrong. I wish
the boss had really told me what I did wrong,
gave me some line of bologney that I really didn't believe.
But you know what's great about ending to say, forced
you onto your new beginning. And that's what each of
my bosses who I didn't like did. They pushed me
onto something else. That's what my boyfriend Ray did. He
(26:42):
pushed me on to a second marriage it didn't work
out so well either bred, but also onto a new
business that I was able to build into an empire.
Thank god that happened.
Speaker 1 (26:52):
Right now, Listen, They always say that that is a
blessing when something gets removed from your life. That you know,
I believe that because I even for myself, just even
doing radio. The way this happened was because of a
bad breakup. And then I was like, well, it's a
long story, but I did climb through his window catch
him in bed with somebody else. But after that, I
(27:14):
was upset for like a week, and then I said,
you know what, I'm gonna switch jobs, switch my everything
and like try something new. And that actually gave me
the courage, because sometimes you get really comfortable and complacent
in a position and something like that can make you
just be like forget it all, like let me just
go for something that I normally wouldn't.
Speaker 2 (27:33):
Do it for you. But we're courage because you're shot
down in those moments and your ego isn't intact. It's
hard to get up and there you were standing back up.
Speaker 1 (27:41):
And ego sometimes is what does hold us back from
a feeling like we don't want to be told now
that we're gonna fail and it's okay, I.
Speaker 2 (27:51):
Deserve it, or we've worked hard for all these reasons.
Speaker 1 (27:53):
You know, how about those all buses and exes, do
they ever try to after all of that happened, Like
do they still say congratulations? Do they reach out or
did anybody try to circle the block?
Speaker 2 (28:04):
No? No, not at all. He never left his wife,
so we never came back in that regard.
Speaker 1 (28:09):
If you're wondering, okay, who hired the secretary?
Speaker 2 (28:12):
I hired the secretary, and you know there's a lesson
that I never hired pretty secretary. Again, she was twice
as pretty as I was, said lone blonde hair and
she's ten years younger. What was I thinking? Of course
she left with her and.
Speaker 1 (28:22):
Oh my goodness, well listen, well, Barbara Corkan, I appreciate
you so much, you know, like I said, I watch
everything that you do. Thank you, and I definitely am listen.
I'm always impressed by and I pay attention and I'm
always like, Okay, let me see what Barbara Corkan has
to say about this. And what I love is that
you're also very present. You're always still out here giving advice,
letting people know what it is that you're doing. You're
(28:43):
so generous with your time, and I've been trying to
get you up here. Cheryl, who's a friend of mine,
I've been like, when can I get Barbara Corkan on
my She.
Speaker 2 (28:51):
Told me not to go on the show over and
over again.
Speaker 1 (28:53):
I believe it. We're going to talk after this, but
I'm always like, she's over here, She's over here. Why
isn't she over here? So I appreciate it, but I
know you also have a super busy schedule. And so
for everybody to know, Shark Tank is back. It's season sixteen.
I saw your You're sixteen years ago versus today.
Speaker 2 (29:11):
So different. You think so I think. So I've had
three face looks along the way, so my face looks
the same, but my body's very different.
Speaker 1 (29:18):
Well, you look like you're in great shape. I do
want to say that you know what facelifts? Okay, I've
been talking about that a lot lately with girl.
Speaker 2 (29:26):
I know every surchon New York what they charge and
who's good at what?
Speaker 1 (29:30):
Oh my goodness, everybody has a specialty. All right, Well,
Barbara in your Pocket? So can we talk about that
with Barbara in your Pocket too? If anybody has questions, Yeah,
of course we can. Because I had an idea to
pitch to you for yourself. I'm gonna listen now, you
had this podcast and you would answer people's questions, right,
And I love that part of it because sometimes those
are the same questions that I would have. So tell
(29:52):
us explain to us for people listening that maybe don't
know about Barbara in your Pocket what that is.
Speaker 2 (29:56):
This is very interactive. If someone's starting in business, they
have a dream, obviously, they run into obstacles, they feel alone,
they don't know who to turn to. I'm not saying
I'm a savior, but what I do really well is
give good advice on business. So they come to me
in a collective group, a lot of people together, and
they all started asking questions. And usually when I ask
the answer a question, well that has meeting it for
(30:17):
one person, ten people respond to me it was just
what they had on their mind. So what I try
to do is see what's current, see what's bothering people,
and make sure they move on. Because people hold themselves up,
you know, they need to push someone, push you broad and.
Speaker 1 (30:30):
I like to do that. Well. Listen, I think that
Barbara in your Pocket could kind of mesh well with
bringing back the podcast. I think you might be right
because you don't necessarily have to have a guest. The
people who are asking you questions that have questions just
like I do, are the guests. And then you can
focus on different things that are really relevant today. Like
you said, ten people have that same question and they
can benefit from it. And then you can expand even
(30:50):
further for everyone to hear. And then you make extra
money doing that too, because you know, we like that you.
Speaker 2 (30:55):
Little hustling, my god, but it's a great idea.
Speaker 1 (30:58):
And then the podcasting word in your pocket so same work.
Speaker 2 (31:02):
Okay, I'll let you invest fifty thousand dollars in that idea.
Speaker 1 (31:05):
I would bet my money on you, Barbara Corkran. I'll
take you fifty right now, okay, Cheryl, Cheryl now. But honestly,
I do think that you need to you know, like
I said I would.
Speaker 2 (31:18):
I'll rethink that that's really smart. Okay, like moving on
twenty degrees left. That's all it is.
Speaker 1 (31:23):
You guys, you heard it here first, Barbara Corkran and say.
Speaker 2 (31:25):
I'm not going to credit you ever if it's so
when you don't get.
Speaker 1 (31:28):
It, listen, and I don't mind. And you know, maybe
that's to my disadvantages that a lot of times I'll
do things and help people and I don't ever really
like say, it's hard for me to ask. This happened
to me one time, right, I actually connected to people.
Somebody was trying to do a deal with a huge artist,
and I connected the brand with the person I didn't
(31:49):
and I didn't think to get anything out of it. Yeah,
I broke it, but it was really just like, hey,
you know this person, you know, can you lick me.
Speaker 2 (31:55):
With that connection?
Speaker 1 (31:57):
Yeah? So I'm gonna tell you the truth. This was
the biggest check I ever got back then they actually
ended up paying me one hundred and fifty thousand dollars
good for you, and that I didn't even ask. And
it actually is how I ended up buying my first house.
That was part of the money that I used for
that at that same time. But that was a lesson
for me because sometimes I just do things just out
(32:20):
of the goodness and kindness, and it's hard. I don't
know if it's a harder thing for women to do it,
because I find I feel like men are a lot
better everything, like, well, I need some money for that.
Speaker 2 (32:29):
Women don't ask for raises. Ever, I have found that
running thousand men, not women teams, not men teams, but
women teams, they don't ask for race. I get two
men there in asking for a raise.
Speaker 1 (32:39):
Automatically and negotiate our salaries. And you know, I had
read an article and Marie clear about women not asking
for raises or negotiating their salaries, and I went in
and did it you article? And yes, and I actually
got a forty percent raise when I was as serious
game the price I won, No, I just I actually
did not name the price, and I got I wasn't
(33:01):
making much though, so I went from yeah, very much.
Speaker 2 (33:06):
You.
Speaker 1 (33:07):
Well, you know what, I think, I started off so
low because I didn't negotiate. And so by the time
I had finished my first year in radio and had
really proven myself. It was my first time doing radio
because and I know you also say this like not
to overvalue yourself at times it is important to negotiate
what you deserve, but also to know what that what
you're worth in the market. Yes, and I had never
(33:28):
done radio, so this was my first job in radio,
so I took the low salary knowing that I was
at some point.
Speaker 2 (33:34):
It was the start.
Speaker 1 (33:35):
Yeah.
Speaker 2 (33:35):
It makes sense. Actually, hm hmm, it doesn't. It makes
great sense. Many people do.
Speaker 1 (33:40):
Yeah.
Speaker 2 (33:40):
Yes, that finally you asked for the raise and many
people don't.
Speaker 1 (33:44):
Yeah. And I got a bonus on top of it,
and I didn't even ask for it. Wow. Yeah.
Speaker 2 (33:48):
And then you must have a nice way of asking.
You know what I learned.
Speaker 1 (33:52):
You don't ask because you want it. You asked because
you deserve it. And I actually put together a binder
of all the reasons why I deserved a raise. Yeah.
And I was also when I read this. It was
in Marie Claire. It also says to say, I love
being here, and I want to continue here absolutely, and
if and if they say no, then ask if there's
other things that they can offer you in lieu of
(34:14):
the finances of course.
Speaker 2 (34:15):
Yeah, it looks like Marie Claire.
Speaker 1 (34:17):
Uh well, thank you again, okay, And so I'm excited
for this. Can't wait for the podcast to relaunch with
Barbara and your Conka too. Okay, good enough, it's way up.
Way Up With Angela Yee News
Host
Angela Yee
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