![]() He’s also written two books: Cold Hard Truth On Men, Women & Money and Cold Hard Truth: On Business, Money, and Life. “Everybody who saw that understood what they did, how they made money and how they were going to grow the business.”Īmong O’Leary’s other pursuits are a line of wines (O’Leary Fine Wines) and O’Leary Mortgages, which he expects to launch in September. “That’s an example of a good pitch,” said O’Leary of the mobile tire-changing and replacement service, which was founded by Craig Howes and Heather Murphy and is now being franchised. ![]() Red Deer-based GoTire Mobile Tire Service, which was featured on a Dragon’s Den episode in January, met these criteria, he said. “And thirdly,” said O’Leary, “they know their numbers.” They can succinctly describe their vision and how it will generate money, and they can justify why they’re the best person to execute the plan. The entrepreneurs who do best under the television lights typically have a few things in common, said O’Leary. We sold $100,000 in cupcakes because of their appearance on the Shark Tank show in one day.” “Last Friday, I invested in a company called Wicked Good Cupcakes in Boston. He credits this in large part to the huge marketing benefit that an appearance on those programs can bring to a business. “But on Dragons’ Den in England and Canada, and Shark Tank in the U.S., it’s one in 15.” ![]() O’Leary said that generally speaking, only about one in 25 venture investments make money. “I used to have to go and find them, but now with Shark Tank and Dragons’ Den, I just wait for them to come to me.” The two programs, in which entrepreneurs pitch their ideas to a panel of investment moguls in hopes of gaining well-healed and business-savvy partners, have proven to be fertile ground for venture deals, he said. “I don’t care if people like me or don’t like me - I want to be a good investor.” “I’m not trying to make friends on Dragons’ Den or Shark Tank, I’m trying to make money,” said O’Leary. O’Leary and his counterparts on Dragons’ Den and Shark Tank have provided a financial boost to many businesses, but they’re not motivated by generosity. “That’s just the conservative nature of the Canadian banking system.” “Canadian banks, although they talk a good story, don’t lend anybody any money that has sales under $10 million,” he said. He later shared some of his views on entrepreneurship with the Advocate, including his belief that the growth of many businesses is constrained by tight capital. O’Leary was in Red Deer on Monday to speak with investment advisers about O’Leary Funds, a mutual fund company that he co-founded in 2008. So why not drop taxes down and make it very competitive here leave the money in the entrepreneurs’ and the Canadians’ pockets and let them invest it themselves? Then you’d see productivity and innovation.” “I believe that every province, every federal government agency, wastes about a third of the money that they get. Rather, insists Kevin O’Leary, the celebrity venture capitalist from CBC’s Dragons’ Den and its American counterpart Shark Tank, the aspirations of businessmen and businesswomen in this country are being stifled by an onerous tax system and conservative banks. There’s nothing wrong with Canadian entrepreneurs, says a man who has had countless business ideas pitched his way.
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