"They don't have the guts" - When Shark Tank's Kevin O'Leary commented on who shouldn't be an entrepreneur 

During a podcast with The Iced Coffee Hour in May 2024, Kevin O'Leary joined the hosts to share his views on watches, Shark Tank deals, TikTok and many more things. At one point, he was asked by the hosts how he decided whether a person should dive into the journey of being an entrepreneur.

The O'Leary Ventures founder replied:

"About two-thirds of America should not be entrepreneurs. The reason you would know that is you are unable to make the first step. If you don't have the ability to take risk you will never be an entrepreneur."

Elaborating on his argument further, the Shark Tank investor mentioned that the first step to becoming an entrepreneur is to have the will to take "risks." Those who cannot do that should take a step back, according to him.

Kevin O'Leary went on to narrate a personal anecdote from a business school where he was invited as a guest lecturer. He mentioned that half of the class chose the path of becoming consultants.

O'Leary then added:

"They don't have the guts because think about a consultant they never make any decisions of consequence. You get paid a lot, it's great. If you go to the top of your consulting firm maybe you make three-four million bucks a year. That's great, can't complain about that but every decision you make is just a consultation."

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Why Shark Tank investor Kevin O'Leary doesn't hire consultants

When asked why most people, even from business schools, choose to become consultants over entrepreneurs, Shark Tank investor Kevin O'Leary said that as a consultant, they never get to hold on to the real decision-making powers in an organization.

O'Leary further pointed out that he does not hire consultants because, after two years:

"They get that virus. They're just generating opinions they're not doing anything."

For Kevin O'Leary, the real deal is pursuing your passion and achieving a position of power where your work is of some consequence.

According to Kevin O'Leary, consultation takes you on a road of "mediocrity." He claimed that individuals who graduate from the same business school as future entrepreneurs tend to choose the path of "consultation" because they do not take risks.

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Shark Tank investor Kevin O'Leary is one of the lead investors on the show.