"Kills the Golden Goose"- Shark Tank's Kevin O'Leary shares his views on "Nepotism"

Shark Tank investor Kevin O'Leary believes in being "ruthless" in business. He believes one should be "willing to fire their mother" if the business demands it. Many might find this irrational and heartless, but Kevin claims it is viable for a successful and pragmatic business model.

During an interview with CNBC co-anchor Tyler Mathisen, the Shark Tank mentor shared his views on how entrepreneurs should focus on their "allegiance to business first" and later consider incorporating and supporting their kin, if any, involved in the business. Citing his own example, he explained that being emotional can cost entrepreneurs their investors and customers.

Elaborating on the same point, he further extended his argument by saying that the priority of any entrepreneur should be their customers and investors. Letting that rule slip and eyeing personal relationships in situations where one is involved in a "family business" or a business with friends can lead to a fall.

He remarked:

"Many people hire their friends. They start a company with their friend or with their brother, or it's a family business. Very often, nepotism kills the Golden Goose because very often, the better manager is not your sister, brother, uncle, cousin, or whatever. I live through this all the time in the companies that I am an investor."

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Shark Tank investor Kevin O'Leary doesn't mix business and emotion

Kevin O'Leary popularly known as Mr. Wonderful amongst Shark Tank fans draws a clear picture for the CNBC co-anchor Tyler Mathisen about how to keep business isolated from emotional decisions as much as possible.

The shark believes that to achieve a successful business, rather than hiring one's loved ones in a position like that of a manager, one should focus on minimizing emotional involvement as much as possible. He stated that the minute one gets his/her first customer, they should put themselves second in order.

He emphasized that as the business starts growing and one has to deal with individuals involved in the work, leaning towards emotions rather than taking a practical decision could lead to a failed business.

Kevin added that having a large number of portfolios he has to manage, if he allows his emotions to come in between, will hamper the "true pursuit of what matters the success of the business."

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Shark Tank Season 16 releases fresh episodes on ABC Network on Fridays.