"Take significant risks": When Shark Tank mentor Kevin O'Leary revealed the characteristics of a successful entrepreneur

Shark Tank investor Kevin O'Leary revealed the characteristics of a successful entrepreneur in a discussion with Bryan Elliott from Behind The Brand. In a YouTube video that premiered on November 18, 2016, the duo explored various topics related to businesses, entrepreneurs, and more.

When Elliott asked the Shark Tank mentor about what, according to him, were the characteristics of a "successful" entrepreneur, Kevin O'Leary emphasized the importance of taking significant "risks" while having a sense of "good balance." He stated:

"You know, what I've learned after eight years of Shark Tank, seeing hundreds of outcomes, both success and failures, is there are certain things that drive entrepreneurs, and one of them is they're willing to take significant risks and realize that it's not a good balance in life, because you're going to work 25 hours a day. You're going to give up certain things for that. And the whole reason to do it is not for greed of money. It's the pursuit of freedom."

Shark Tank mentor Kevin O'Leary in discussion with Behind The Brand's Bryan Elliott

When in conversation with Bryan Elliott, Kevin O'Leary faced a question about various characteristics of an entrepreneur. The host had asked:

"I want to know, and so, you know, this audience, they're all made up of entrepreneurs. You know, either they are currently doing their own thing, or they're working for the man, plotting their escape, or their side gig, side hustle. What do you think some of the characteristics of a successful entrepreneur are?"

Responding to this, O'Leary stated that he had learned quite a lot over the years. He had witnessed "hundreds" of outcomes, including success and failure. He argued that there were certain things that would "drive" entrepreneurs. One of them would be taking "risks."

O'Leary also highlighted the negative impact of not maintaining a "good balance" in terms of work-life, whereby he was referring to working 25 hours a day. He noted that entrepreneurs must be willing to "give up" certain aspects of life to sustain such a workload. However, he clarified that he did not mean this drive to be "greed for money" but the "pursuit of happiness."

Mr. Wonderful further added that whenever he would talk with "young" entrepreneurs, he would always discuss his "journey." When young minds are about to undertake the journey, they should be aware of what they would be getting into. To make them familiar with the "sacrifice," Kevin shared his story.

He added that:

"There's a dark side to being an entrepreneur, and it's a sacrifice of time, particularly with your family and loved ones. You know, you have to pursue your business, because there's somebody else in another country, or even here domestically, kick in your ass if they get a chance. You've got to stay ahead of them."

Later in the interview, Elliott asked the Shark Tank mentor about how the struggle is "real" and how it might feel like a "street fight." Click on the link to the YouTube video to know more about O'Leary's response.

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Fans can follow the Shark Tank mentor Kevin O'Leary via his Instagram @kevinolearytv and stay updated with his upcoming ventures.

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