'Shark Tank' star Kevin O'Leary: Entrepreneurs must be willing to miss their kid's birthday party
There's no question that "Mr. Wonderful" enjoys embracing this persona for television, but it's still representative of the pragmatic business philosophy he's used to build his career.
And it's why, he told Business Insider, he only invests in entrepreneurs he believes will deliver results and not get "flighty or emotional" under fire.
"Any entrepreneur on my team needs to understand that the goal is always cash flow, and they must be willing to do anything to keep the money rolling in," he said. "I don't care if that means missing your kid's birthday party or your 25th anniversary for an important business meeting."
When we asked him earlier this year what he thinks of work-life balance, he said there's no such thing as true "balance." Instead of struggling to find an even share of career and family time, O'Leary said he and his wife decided to create a family rule where they spend time with each other and their two children on the weekends regardless of where work brings them. But when it's time to work, he said, they've accepted that his time will be consumed.
"The reason you pursue an entrepreneurial career is to one day provide financial freedom for yourself and your family," O'Leary said. The only way to achieve freedom in your career is by amassing wealth, he said, and the only way for entrepreneurs to reach this point is by giving their full devotion to growing their business, accepting all of the sacrifices that come with the approach.
We recently asked the other Sharks how they make deals on the show and what happens once the cameras stop rolling. You can find their answers below.