Investing is not a piece of cake and when your investments fall miserable you are doomed. But there is one such Investor who with his sharp skills and foresightedness became very famous as an investor and entrepreneur, Kevin O Leary. Known as the celebrity Investor, Sharks is very much popular as Mr. Wonderful from ABC’s show Sharks Tank.
Kevin is a smart investor. In the year 1983, he launched Softkey Software Products indulging into Software Business which gradually increased its sale. When the sale of the products increased, Kevin bought his own rivals, The Learning Company and Mindscape. After successfully running Softkey Software products for 16 years, he sold it to Mattel Top Company for a whopping amount of $3.7 Billion. The deal to sell the company became one of the biggest deals in Consumer Software sector.
After some time, Kevin came up with O’Leary Mutual funds company and also started O’Leary Wines & O’Leary Financial Group. Knowing the investment insights and fruitful advices from Mr. Wonderful himself would surely help in future investments.
Let us see some of the important advises given by Mr. Kevin to all budiing Entreprenuers.
Listening to the Gut
Kevin said that one of his early lessons in life was to Listen to his Gut feeling. He said that whenever he ignored his Intuition he lost millions of money. According to him, Intuition is like a reward to the investors which they need to listen. There are many mentors to guide and advise you but at the end of the day, it’s your gut feeling to go for it or not.
Remain Focused at the end Goal
Mr. Wonderful says that being focused on your goal is ultimately the best advice he got from his mentor in initial days. There would be many difficulties, challenges, and tough situation but when they hit you hard, you need to stand still towards your objective. Even if there are worst times, think them to be the noises which you have to ignore.
This piece of advice, Kevin has always kept in mind while doing business. There are so many things in today’s era to take you down, Kevin says but a great entrepreneurs one who come out of all this and handle it. Just like the files pile up in the offices, the same way even if the noises are piling up remain focused and take out ways to achieve it. Its cycle of life, after good, bad comes and vice versa, you need to live trough it after all.
Know your Numbers well
Kevin says that majority of entrepreneurs makes the biggest mistake of not knowing the numbers. This is the pivotal part of any business and if you cannot handle it keeps someone who can do it. You must know what are your margins, who are your rivals etc. This is essentially fruitful to your business. People are keen to know that whether you fully are aware of your business or not and the industry you are competing in. If not, this creates a very negative image in the market.
Work Under someone
Upon understanding how one entrepreneur should educate themselves then, Kevin says that the best learning one can get would be by working under someone for at least couple of years. Kevin himself worked for Sports television Shooting company for 3 years before venturing into the Software business. Working with so many people and in big companies, Kevin recalls learning something or other everywhere.
Business always comes first
This was thoroughly enforced by Kevin even for the sake of breaking long friendships for the business. The interpersonal lessons in the life are most challenging and painful. Keeping aside personal relations for the sake of business, One had to take difficult decisions in the life. Kevin had to make some of the decisions like firing his own friends and breaching very good relations but as a leader, if you cannot put the business at first, you cannot be a successful leader and entrepreneur in life.
Hope the important advices by Kevin would surely be helpful the next time you are venturing into a new business or doing an investment.