Kevin O'Leary Says There's No Work/Life Balance For New Entrepreneurs As 'Guys In Mumbai Or Shanghai' Work '24hrs A Day, Eight Days A Week'

Love or hate him, Kevin O’Leary is known for his blunt opinions and insights into entrepreneurship. This time, he has tough advice for young business owners. 

According to O’Leary, don’t expect a work-life balance if you’re starting a business in your 20s. There's too much competition and the barriers to entry are too low for entrepreneurs to relax while building a company.

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In a recent video, O’Leary addressed the reality that many young entrepreneurs face – extreme competition from their fellow countrymen and all over the world. “You’re competing with somebody in Mumbai or Shanghai or somewhere else,” O’Leary said, “and they’re willing to work 24 hours a day, eight days a week. And if you’re not willing to do that, they’re going to kick your ass.”

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To O’Leary, there is no such thing as work-life balance when starting a business. Instead, he encourages young entrepreneurs to put in the long hours now to establish a strong foundation. “In your 20s, you can afford the time, the focus and all this stress that you’re going to have to deal with,” he explains. Only after establishing that base can they start to think about taking some time off.

In an older video, he also discussed his struggles with maintaining balance while growing his career. “If you’re going to take the path of an entrepreneur, you’re going to be an investor, you have to sacrifice some stuff.” But the reward, he pointed out, is financial freedom. “The reason you do and pursue an entrepreneurial career is to provide financial freedom one day for yourself and your family,” he said.

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O’Leary’s perspective comes from his personal experiences. He was in a challenging situation after selling The Learning Company to Mattel. He had signed a three-year noncompete and couldn’t work in the software industry. He thought it would be easy to relax during that time, but instead, he felt “stale” and frustrated.

Although he traveled the world, visiting beaches to enjoy his time off, he realized he was miserable without work. “If you’re an entrepreneur and prohibited from working, it can be a form of jail,” O’Leary said. From that point on, he decided to never sign a noncompete or NDA again, valuing the freedom to always stay active in his industry.

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