Kevin O’Leary: Do You Have What It Takes To Start Your Own Business?

23 Views · Published on Wed, 24 April 2019 · FINANCE & BUSINESS

"It's all about how you see yourself in the future." » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf As the star of ABC's "Shark Tank," Kevin O'Leary has a decade of experience assessing entrepreneurs who walk into the Tank. And he's learned the inherent difference between those people who are meant to be their own boss and those who are meant to be employees. "It's all about how you see yourself in the future," O'Leary tells CNBC Make It. "If you're willing to sacrifice your family life in your 20s and 30s – you'll have no free time — and you're willing to work 25 hours a day, eight days a week, then you're an entrepreneur." O'Leary (who founded his own software company in 1986 and sold it to Mattel in 1999, reportedly for over $4 billion) always tells aspiring entrepreneurs that they should be willing and ready to work all the time in order to be successful, and to "forget about balance." Because of that, for some being an employee is the right choice, O'Leary says. The workload of an employee is much more manageable. "Being an employee, particularly good one, allows you for free time on weekends or to go to baseball games for your kids or to do things during your two to three week holiday that no entrepreneur ever gets, particularly when they're working so hard," he adds. For entrepreneurs, the goal is for all the hard work to provide freedom later on. "The reason you do it is to provide freedom later in life," O'Leary says. "Freedom in a way that no employee ever gets, because when you're an employee, you work for somebody else." For O'Leary, success as an entrepreneur now allows him to pursue his passions, like photography. "You don't do entrepreneurship for the greed of money," he told CNBC Make It. "Because what does it mean to be wealthy in America? [It means] you're personally free. That's what's important." "The way to look at it is freedom," O'Leary explains. "How important is freedom to you later in life? If it's very important, try the entrepreneurial path. It ain't easy, but boy it's worth it." About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: http://www.cnbc.com/make-it Find CNBC Make It. on Facebook: http://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: http://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: http://bit.ly/InstagramCNBCMakeIt Find CNBC Make It. on LinkedIn: https://cnb.cx/2OIdwqJ #CNBC #CNBCMakeIt #Entrepreneurs Kevin O’Leary: How to tell if you have what it takes to start your own business | CNBC Make It.

Related Videos

Fed Finds Many Families Would Struggle With a Surprise $400 Bill

Fed Finds Many Families Would Struggle With a Surprise $400 Bill

9 months ago
299

May.24 -- Even with unemployment near a 50-year low, many American families can’t afford an unexpected bill. A Federal Reserve report shows that 40% of households would struggle to pay for a $400 emergency.

Why You Spend So Much Money At Costco — Hooked

Why You Spend So Much Money At Costco — Hooked

9 months ago
512

With over 94 million Costco members worldwide, chances are you know a Costco addict. There are Instagram accounts devoted to Costco, like @costcodeals, and websites, like CostcoInsider.com. Costco has even become a travel destination and - for one couple - a place to get married. Buying in bulk isn't for everyone,...

Why do we have the penny? | CNBC Explains

Why do we have the penny? | CNBC Explains

10 months ago
4,052

Ever wondered whether there's a point to having small change? You're not alone. The U.K. and U.S. continue to mint pennies but some countries like Canada have scrapped them all together. So should we get rid of the smallest value coins in circulation? CNBC's Tom Chitty explains. ----- Subscribe to us on...

The Job-Hunting Advice Kevin O'Leary Gave His Daughter

The Job-Hunting Advice Kevin O'Leary Gave His Daughter

10 months ago
9,999

As an entrepreneur with experience scouting top talent, "Shark Tank" star Kevin O'Leary had two key pieces of resume advice for his now 25-year-old daughter Savannah when she first started job-hunting: Keep it succinct, and show the prospective employer what you can do for them. » Subscribe to CNBC...

Facebook to Launch its Own Cryptocurrency in 2020

Facebook to Launch its Own Cryptocurrency in 2020

9 months ago
173

Facebook plans on launching the cryptocurrency, termed “GlobalCoin,” in a dozen countries by the first quarter of 2020, BBC reports. ► Subscribe for more tech & culture videos: http://on.mash.to/subscribe ◄ MORE FROM MASHABLE * Tricking iPhone Facial Recognition: http://bit.ly/2M85wSJ *...

How Bernie Sanders Became A Millionaire

How Bernie Sanders Became A Millionaire

9 months ago
16,476

Bernie Sanders released his tax returns - it turns out he made more than a million dollars in both 2016 and 2017. We dug through the 2020 presidential candidate's IRS filings to see how Bernie and his wife Jane make their money - mostly from book deals and the senator's salary. Watch the video to see how a...

Kevin O'Leary: You Can Get Rich Going To Trade School

Kevin O'Leary: You Can Get Rich Going To Trade School

9 months ago
693

Kevin O'Leary thinks attending college isn't necessarily the best financial decision for everyone. “I don’t recommend college for everybody,” O’Leary tells CNBC Make It. “The fact is, there’s a lot of trade schools that would help you make a lot more money. Be a plumber,...

How Taylor Swift Makes And Spends Her Millions

How Taylor Swift Makes And Spends Her Millions

10 months ago
1,773

Taylor Swift just dropped a new single and music video with Panic! at the Disco's Brendon Urie after a cryptic countdown on her website teased the release. The singer and songwriter has amassed an estimated $320 million net worth and owns at least $84 million in real estate across four states. Her...

How To Save Money And Build Wealth When You're In Debt

How To Save Money And Build Wealth When You're In Debt

9 months ago
380

How to save money when you're broke or living paycheck to paycheck is a concern for many Americans. Farnoosh Torabi, personal finance author and host of the "So Money" podcast, has some helpful advice on how to start saving money right now, regardless of your financial situation. » Subscribe to...

Comments
 

You have
500
characters left.
  •  
  •