If you don’t have what it takes, sit down and settle for 9 to 5

The critics are jumping up and down.

Indignation is in the air.

Kevin O’Leary of Shark Tank is like a shark -soul-less, lacking compassion, devoid of humanity. He embodies all that is wrong with America – rapacious capitalism at all costs.

Why all the noise?

Because he tweeted: “You may lose your wife, you may lose your dog, your mother may hate you. None of these things matter. What matters is that you achieve success and become free. Then you can do whatever you like.”

The millionaire Canadian investor is spot on. Being an entrepreneur takes sacrifice and hard work. The old saying applies – “While others were sleeping, you were toiling through the night.”

SPEAKING FROM A PLACE OF EXPERIENCE

You have to go the extra mile, you have to demonstrate fortitude and resilience. You will get knocked on your ass but you have to get up and persevere.

Kevin O’Leary is speaking from a place of experience.

O’Leary began his career at Nabisco. He started Softkey, a software company in his basement in Toronto. Softkey would go on to acquire The Learning Company (TLC) which in turn was bought by Mattel who fired 0’Leary. Now remember Steve Jobs who founded Apple was fired by the board of the company he built.

Years later, O’Leary would go on to found mutual fund company O’Leary Funds.

Then came O’Leary Ventures, a venture capital investment company. He made a move into cryptocurrencies and was heavily positioned in FTX which went belly-up with its founder and CEO Sam Bankman-Fried facing criminal charges.

O’Leary is known as ‘Mr Wonderful’ and has a US$420-million fortune. He heads the O’Leary Financial Group.

The man has worked and built companies and knows what he is talking about.

He is not cold and uncaring. What he is stressing is that you have to sacrifice and put time into building your business while you are young so that you can reap the rewards later and take care of the people you love. That means being able to pick up the medical bills when Mum and Dad get sick. Send your kids to a good school. Live in a nice home. Be in a position that creditors are not beating down your door.

Attending Wisynco’s annual general meeting, and listening to both William Mahfood and Andrew Mahfood, one was struck by what it took to build the company to what it is today.

Sam Mahfood left a foundation that saw the company go onto to become one of the leading manufacturers and distributors in the Caribbean.

The company has endured it’s plant being destroyed by fire, COVID, supply chain problems and overcome setbacks. How did that happen? Hard work and acumen.

Today it is reporting revenues of close to J$40 billion with a net profit of J$4 billion and earnings per share of J$1.08. This is a considerable achievement given the current operating environment.

CAME AT A COST

The late Gordon ‘Butch’ Stewart, who founded Sandals hotels, once spoke of working at his retail company ATL during the day and going to Montego Bay in St James in the evening to work on a small hotel he had acquired there which turned into the first Sandals. Some recall him backing off his shirt and digging the ground to put in cisterns and place AC units in hotel rooms.

This allowed him to take care of his family and workers of his companies, but it came at a cost.

Exactly what O’Leary is talking about. You toil today, so that you can enjoy tomorrow.

There are those who disagree with the Canadian investor and his definition of success.

Cyrpto boss Michael van de Poppe had a pop, saying: “Defined success can be for others a lovely wife, happy dog and loving mother as they value relationships more than material things or business success.”

Investor Syed Balkhi quipped: “You are clearly confused about what success really means.”

O’Leary remains undaunted and in typical bullish fashion shot back: “I don’t understand all the blowback because of my comments on hard work, commitment and sacrifice. If you are not willing to work 25 hours a day, eight days a week, don’t bother asking me for an investment. You are not an entrepreneur. Get a job working for a competitor as an employee!”

INDOMITABLE SPIRIT

He’ll probably come under more flak for that.

Many miss the point. O’Leary is speaking to the indomitable spirit of the entrepreneur, having the heart of a long-distance runner. To those who are entrepreneurs, who have built good businesses, you know what he is talking about.

“If you’re an entrepreneur, you know exactly what I’m talking about because you need to sacrifice. You have to work 25 hours a day, eight days a week, because your competitors in Mumbai or Shanghai -they want to kick your butt. You have to win when you’re young and sacrifice everything so that you achieve freedom for your whole family later in life.

“If you don’t get it, don’t worry about it cause you don’t fit the entrepreneurial mould. If you’re not ready to work your ass off, you are not an entrepreneur. Get over it if that makes you uncomfortable. I couldn’t care less.”

He’s not wrong.