‘Shark Tank’: Kevin O’Leary Says Great Entrepreneurs Value This More Than Money
Kevin O’Leary has been a steady presence on ABC’s Shark Tank since its premiere in 2009. The millionaire has partnered with countless business owners over the reality show’s 12 seasons, and will most likely add to his portfolio in season 13. Though O’Leary often places an emphasis on money, he knows that true entrepreneurs have something else as their top priority.
Kevin O’Leary loves freedom more than cash
While O’Leary – aka “Mr. Wonderful” – is the first to point out a faulty valuation or place a royalty fee on an offer, the Shark Tank panelist names freedom as the top motivation for becoming an entrepreneur.
“Great entrepreneurs never talk about money; they talk about personal freedom,” O’Leary told The Pavlovic Today. “Everyone I’ve ever talked to ‘Do you remember the moment you became rich? say, ‘No I don’t. I just kept working, and I just kept doing what I’m doing.’ The guys that I back are all like that; they don’t give a sh*t about how much money they have in the bank.”
The reality star considers the path to success as comprised of several variables outside of money.
“You’re not really an entrepreneur if you’re just counting your success on cash,” he said. “It’s irrelevant; that’s just greed. I think they want success in being able to compete in the market and get motivated to do it, and sometimes you win, sometimes you lose, you don’t know.”
Did Mr. Wonderful say ‘it’s not really about money’?
Despite all of his public devotion to the almighty dollar, O’Leary verbalized the importance of time.
“It’s not really about money, it’s about finding things to spend your time on that are really interesting,” Mr. Wonderful remarked. “And, you know, I’m very fortunate now: I don’t have to do anything I don’t want to do… I do things that are interesting.”
The Shark Tank star also places balance in his life as a priority, with a focus on cultivating close personal bonds.
“Happy life is a balance of family, friends,” O’Leary shared. “I have millions of followers on social media, but they’re not my personal friends. I only have a circle of maybe 18 people that I spend my time with, and then my family. I have very close relationships. Happinesses is about relationships that are long. I keep my friendships close to me. And you know, life always throws you curveballs. Sh*t happens all the time. So, my attitude is, you know, you want to be balanced.”
Kevin O’Leary notes that success is ‘elusive’
Though O’Leary has seen his share of success throughout his career, he knows nothing is ever a sure thing.
“It’s elusive and you’re never guaranteed anything,” he said. “Whatever you think is a sure bet never is. The key is diversification. As soon as you get liquidity and let’s say your first exit, you can never bet on it again because you just don’t know what’s going to happen. It’s that simple.”
The Shark Tank panelist acknowledged that risks will always be a part of the business world.
“At the end of the day, you’ve got to realize that there’s risk in the world every day,” he commented. “I have great teams, great lawyers, great accountants, great compliance officers but I know there’s risk, and sh*t happens. It always does.”
