he’s the dragon you love to hate hi I’m Rebecca Brayton and welcome to
Rebecca Brayton and welcome to
Rebecca Brayton and welcome to watchmojo.com and today we’re speaking
watchmojo.com and today we’re speaking
watchmojo.com and today we’re speaking with entrepreneur kevin o’leary explain
with entrepreneur kevin o’leary explain
with entrepreneur kevin o’leary explain to us what you think makes a good
to us what you think makes a good
to us what you think makes a good entrepreneur communication skills it
entrepreneur communication skills it
entrepreneur communication skills it turns out our paramount the ability to
turns out our paramount the ability to
turns out our paramount the ability to actually articulate what your idea is in
actually articulate what your idea is in
actually articulate what your idea is in a very short period of time is number
a very short period of time is number
a very short period of time is number one number two and this is far in some
one number two and this is far in some
one number two and this is far in some ways more complicated to explain it just
ways more complicated to explain it just
ways more complicated to explain it just because you have a good idea doesn’t
because you have a good idea doesn’t
because you have a good idea doesn’t make you mean you’re going to make money
make you mean you’re going to make money
make you mean you’re going to make money there’s a difference between a good idea
there’s a difference between a good idea
there’s a difference between a good idea and someone who can execute the business
and someone who can execute the business
and someone who can execute the business plan so you spend the next five minutes
plan so you spend the next five minutes
plan so you spend the next five minutes through a presentation explaining why
through a presentation explaining why
through a presentation explaining why you’re the right person to actually
you’re the right person to actually
you’re the right person to actually execute the plan and this is far more
execute the plan and this is far more
execute the plan and this is far more complicated because you get peppered
complicated because you get peppered
complicated because you get peppered with a whole series of questions in any
with a whole series of questions in any
with a whole series of questions in any presentation that you’re trying to raise
presentation that you’re trying to raise
presentation that you’re trying to raise money for whether it’s on dragons and
money for whether it’s on dragons and
money for whether it’s on dragons and shark tank or out somewhere else how
shark tank or out somewhere else how
shark tank or out somewhere else how much of your own money have you put into
much of your own money have you put into
much of your own money have you put into this business I’ve put fifty thousand
this business I’ve put fifty thousand
this business I’ve put fifty thousand dollars of my own money and I’ve been
dollars of my own money and I’ve been
dollars of my own money and I’ve been taking a salary out of this company in a
taking a salary out of this company in a
taking a salary out of this company in a year and a half cry me a river’ you have
year and a half cry me a river’ you have
year and a half cry me a river’ you have to go through that gauntlet to prove
to go through that gauntlet to prove
to go through that gauntlet to prove that you’re the right person or your
that you’re the right person or your
that you’re the right person or your team are the right people and if those
team are the right people and if those
team are the right people and if those two things come together then the magic
two things come together then the magic
two things come together then the magic starts that’s when a team or a person
starts that’s when a team or a person
starts that’s when a team or a person starts to sizzle like an isotope because
starts to sizzle like an isotope because
starts to sizzle like an isotope because clearly they become a leader it’s clear
clearly they become a leader it’s clear
clearly they become a leader it’s clear that they’re different than everybody
that they’re different than everybody
that they’re different than everybody else
else
else not only can then articulate their idea
not only can then articulate their idea
not only can then articulate their idea they can actually convince you they can
they can actually convince you they can
they can actually convince you they can execute it that’s the kind of
execute it that’s the kind of
execute it that’s the kind of entrepreneur I want to finance do you
entrepreneur I want to finance do you
entrepreneur I want to finance do you think that emotions should have no place
think that emotions should have no place
think that emotions should have no place in business not when you’re judging a
in business not when you’re judging a
in business not when you’re judging a business for his financial merits it’s
business for his financial merits it’s
business for his financial merits it’s the end of the day money is different
the end of the day money is different
the end of the day money is different than anything else in life there’s no
than anything else in life there’s no
than anything else in life there’s no gray you either make money or you lose
gray you either make money or you lose
gray you either make money or you lose it I’m not trying to make friends and
it I’m not trying to make friends and
it I’m not trying to make friends and trying to make money I say that all the
trying to make money I say that all the
trying to make money I say that all the time
time
time people say to me what about love and I
people say to me what about love and I
people say to me what about love and I say try love without money now I’ve seen
say try love without money now I’ve seen
say try love without money now I’ve seen you say that being an employee never has
you say that being an employee never has
you say that being an employee never has a good outcome would you like to
a good outcome would you like to
a good outcome would you like to elaborate on that a really good employee
elaborate on that a really good employee
elaborate on that a really good employee ends up with equity because they’re so
ends up with equity because they’re so
ends up with equity because they’re so invaluable you don’t want to lose them
invaluable you don’t want to lose them
invaluable you don’t want to lose them and that’s the right way to look at
and that’s the right way to look at
and that’s the right way to look at they’re either partners or their cost so
they’re either partners or their cost so
they’re either partners or their cost so what happens to employees and companies
what happens to employees and companies
what happens to employees and companies the minute they’re hired there’s
the minute they’re hired there’s
the minute they’re hired there’s somebody in that organization trying to
somebody in that organization trying to
somebody in that organization trying to figure out how to fire that’s what’s
figure out how to fire that’s what’s
figure out how to fire that’s what’s going on that’s what happens in all
going on that’s what happens in all
going on that’s what happens in all companies because they’re costing money
companies because they’re costing money
companies because they’re costing money for the shareholders and I think you
for the shareholders and I think you
for the shareholders and I think you have to be realistic so if you’re an
have to be realistic so if you’re an
have to be realistic so if you’re an employee you have to make sure you get
employee you have to make sure you get
employee you have to make sure you get up every morning and create value in the
up every morning and create value in the
up every morning and create value in the business you’re in or you’re
business you’re in or you’re
business you’re in or you’re get fired in terms of choosing a team I
get fired in terms of choosing a team I
get fired in terms of choosing a team I mean how would you go about choosing the
mean how would you go about choosing the
mean how would you go about choosing the right team many people will come and go
right team many people will come and go
right team many people will come and go you’ll lose 1/3 of your employees
you’ll lose 1/3 of your employees
you’ll lose 1/3 of your employees because the culture is just being formed
because the culture is just being formed
because the culture is just being formed and it becomes very obvious very quickly
and it becomes very obvious very quickly
and it becomes very obvious very quickly which people don’t fit in the culture
which people don’t fit in the culture
which people don’t fit in the culture that’s getting the critical mass and
that’s getting the critical mass and
that’s getting the critical mass and create a company it’s got a culture and
create a company it’s got a culture and
create a company it’s got a culture and those that don’t fit you should get rid
those that don’t fit you should get rid
those that don’t fit you should get rid of them even if it’s your mother you got
of them even if it’s your mother you got
of them even if it’s your mother you got a fire
a fire
a fire what are Kevin O’Leary’s secrets to
what are Kevin O’Leary’s secrets to
what are Kevin O’Leary’s secrets to success and/or business ethics the
success and/or business ethics the
success and/or business ethics the government provides regulations and laws
government provides regulations and laws
government provides regulations and laws under which everybody has to play so
under which everybody has to play so
under which everybody has to play so that’s those are like the games of the
that’s those are like the games of the
that’s those are like the games of the rules of a football game
rules of a football game
rules of a football game everybody has to abide by them that’s a
everybody has to abide by them that’s a
everybody has to abide by them that’s a given now when it comes to winning in
given now when it comes to winning in
given now when it comes to winning in business I like to be very competitive I
business I like to be very competitive I
business I like to be very competitive I like to pour boiling oil over my
like to pour boiling oil over my
like to pour boiling oil over my competitors and think everyday how can I
competitors and think everyday how can I
competitors and think everyday how can I kill them because that is the war of
kill them because that is the war of
kill them because that is the war of business ultimately I want my
business ultimately I want my
business ultimately I want my shareholders to make more money than my
shareholders to make more money than my
shareholders to make more money than my competitors and that’s very healthy so I
competitors and that’s very healthy so I
competitors and that’s very healthy so I think the DNA of a business has to be
think the DNA of a business has to be
think the DNA of a business has to be how do you make money how do you spend
how do you make money how do you spend
how do you make money how do you spend your time making money for shareholders
your time making money for shareholders
your time making money for shareholders and your nobody is an entrepreneur until
and your nobody is an entrepreneur until
and your nobody is an entrepreneur until you’ve made money for somebody else
you’ve made money for somebody else
you’ve made money for somebody else thank you very much thank you
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