Investor and Shark Tank star Kevin O'Leary is urging young entrepreneurs to ditch fear and embrace failure, saying real founders take risks even when the economy looks uncertain.
‘You're Not An Entrepreneur If You're Afraid To Start,’ Says Mr. Wonderful
On Saturday, O'Leary, known as Mr. Wonderful, posted on X and delivered blunt advice for aspiring business owners hesitating to start their ventures.
Responding to a reporter's question about whether now is a risky time to launch a company, he said hesitation is a sign someone isn't truly an entrepreneur.
"You're not an entrepreneur if you're thinking that," O'Leary said. "If all you do is sit and worry and you don't start, you'll never get there."
He urged young founders to leap regardless of the economic climate.
"You may fail twice, you may fail three times. You only need to get up right once," he said. "The abyss isn't something to fear. It's where greatness begins."
O'Leary Says Only Two In Ten Ventures Succeed—But They Pay For The Rest
The Shark Tank investor, who has backed hundreds of startups, said even the most experienced venture capitalists can't predict which businesses will succeed.
"Only two in ten really work, but they pay for the other eight mistakes," O'Leary said. "You never know which one's going to win."
O'Leary Urged Entrepreneurs To Work Hard And Seize Opportunities
O'Leary told young entrepreneurs that work-life balance was unrealistic in their 20s due to global competition.
He said founders faced rivals worldwide, willing to work relentlessly and only hard work could build a strong foundation.
Reflecting on his own career, he noted entrepreneurship required sacrifices but offered the reward of financial freedom.
O'Leary also said economic chaos created opportunities.
He argued that many successful U.S. businesses were founded during recessions, trade wars, and market turbulence.
"Every time the American economy is going through some kind of a correction is a fantastic time to be an entrepreneur and start something," he said, adding that business formation rates had surged in recent years despite rising costs.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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