Barbara Corcoran has a podcast called Business Unusual where she gives all kind of business and real estate advice as well as brings on special guests. She came on The Bobby Bones Show today (October 7) to share some advice as well as hear some Shark Tank style pitches from the show.
In her podcast recently, Corcoran was talking to the founder of Netflix. She admitted talking to people who have super successful businesses makes her exam her career and think about the differences she's made for people. She also pointed out that people who make the biggest changes in the world are often the ones who have the biggest fears in the beginning. Adding that she doesn't think anyone is actually super confident, we all just cover up our insecurities well.
Talking on the ongoing inflation situation, Corcoran acknowledged how inflation has been worse for the average middle class person. She believes it's the worst she's ever seen it. As for the housing market, Corcoran believes it's always a good time to buy a house. People often try to "sharp shoot" the market where they want to buy at low prices, but sell their house at high prices. However, that just doesn't actually happen. She believes it's good for people to get their hands on some kind of property so they have something to "trade up" with especially because the prices are going to continue to rise. Morgan asked if people should consider renting out their houses over selling them. Corcoran told her that it's all based on interest. When people are buying a house with the intention of renting it out, they treat it as an investment rather than really using it as a home.
Bobby Bones asked Corcoran if people should explore the jobs they're passionate about rather than having a stable income job that they don't necessarily love. She said passion is only half of pursuing a job you're passionate about, it matters more if you have ambition. If you have the ambition to build a business, go through the trenches, go at it multiple times even through the lows then it's something you should go after. But if you don't, then staying in a stable job is probably the more successful route. On the topic of jobs, Corcoran also talked about side hustles. She said there are side hustles and there are second jobs. If you are in need of extra cash, getting a second job is a good way to go. If you are looking to take control of your life, you have to go after some side hustles. Then eventually you get people working for you so you keep climbing up financially.
Lunchbox, Amy, and Raymundo all pitched some Shark Tank style ideas to Corcoran. Lunchbox's was all about people coming in to wash people's washing machines. Corcoran told him his elevator pitch was too long and he didn't explain it well, so for that reason she was out. Amy pitched the idea of creating pumpkin spice dryer sheets. Corcoran didn't think it was a good idea and not something people would buy. Then it was Raymundo's turn who pitched a business idea called "Put It On My Tab." It's a bar tab service where people could go to a bar, say put it on my tab, and then they could pay later. She loved Raymundo's idea though she thinks he will need more money to get started than his ask of $20,000. She said he would need around $150,000, but she would definitely give him $20,000 to get started on it.