Regarding business advice, Kevin O’Leary, well-known for his tough-love tone on Shark Tank, isn’t there to make new friends.
On a recent episode of the Full Send Podcast, O'Leary opened up about why he believes he's doing contestants a favor by being brutally honest, even if it doesn't always feel that way to them, and “they start crying.”
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“Ask yourself,” O’Leary said, “is it better to tell them the truth or is it better to take care of their feelings when you know with certainty their idea is complete dog s***, and it’s going to zero?”
Though it seems harsh, O’Leary contends that taking a direct, no-filter approach is the most humane thing he can do. “I’m the only guy that’s kind to them,” he said, explaining that sugarcoating the truth only wastes an entrepreneur's time and money.
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O’Leary doesn’t hold back when he feels a business won't work and he criticizes his fellow sharks for being too soft. “Lori's on my left, Barbara's on my right and they're so Kumbaya,” he said, referring to how some other investors gently let contestants down. “They don't want to hurt their feelings. I don't give a s*** about your feelings, I care about your money.”
His philosophy is simple: honesty saves people from sinking more resources into a losing venture. “They’re mortgaging their home, they’re borrowing money from friends and family,” O'Leary added, “Take this idea behind the barn and shoot it.”
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In his view, it's better to give contestants a reality check than false hope, which has made him unpopular with some viewers. Still, he believes it's what sets him apart. “That is the real me, and I can’t change, I can’t fake it. I actually don't care [if you hate me].”
O’Leary has helped numerous entrepreneurs flourish despite the tough love and his opinion, while occasionally harsh, frequently turns out to be correct. “If you don't listen to the truth, I can't help you,” he stated.
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O'Leary shared a story of meeting a couple from Austria on a train between Zurich and Geneva. The pair recognized him, calling him “the most hated man in Austria” due to his tough approach on the show. Yet, despite telling him, “Yeah, everybody hates you, you’re so mean,” they still wanted a picture with him.
To him, that’s the real strength of the Shark Tank brand. It’s like a “passport,” and he can go to any country and find fans.
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