Kevin O'Leary doesn't care about your feelings.
The venture capitalist appearing on ABC's reality show "Shark Tank" has a reputation for showing little patience when contestants make emotional pleas or share their life stories while pitching their business idea.
"I don't care that you had a dog named Blue in high school," says O'Leary. "You've got to tell me why I should give you money to invest and how you're going to build a business. … If the idea has no merit, I'm being their best friend by telling them, 'You're going to go to zero'."
O'Leary sat down with UBS Wealth Management Americas On-Air Host Anthony Pastore for a fascinating discussion on everything from entrepreneurship to his outlook for markets in 2018 and beyond.
Asked what it takes to succeed as an entrepreneur, O'Leary ticked off three key factors:
- A great elevator pitch
- Facility with numbers
- Superb executional skills
For any startup creator building a business and seeking funding, "it's the jockey-and-the-horse analogy," he said. "The 'horse' is a great business idea—but it never wins the race without a good jockey on it."