I’ve been watching Shark Tank a lot. I find the dynamics of the show fascinating and It’s always interesting to see how the sharks handle different scenarios. After watching dozens and dozens of episodes it’s almost like you get to know how the sharks think; sometimes you can even anticipate what kind of reaction they’ll have and whether they’ll make an offer or not. Maybe my buddy Rob from the Shark Tank Blog would agree.
My top 2 favorite sharks are Kevin O’Leary (website)and Robert Herjavec (website). They’re the polar opposite of each other. Robert has a soft spot for the entrepreneur’s struggle; he tends to be positive about products and services that come into the shark tank, and he gets emotionally involved from time to time. On the other hand, Kevin is all about the money; he’s a self-described numbers guy.
If you watch the show, you probably have your favorites as well. But for me, Kevin takes the lead as my favorite shark. So I started learning more about him and what he does, how he does it and why he does it. I love studying successful people and I constantly try to absorb their best techniques into my own entrepreneurial journey, so I want to share something from an interview I saw recently.
There are hundreds of videos about Kevin O’Leary on Youtube; you’ll find interviews, opinion, and lately, he’s been getting into the political arena in Canada. Some people refer to him as the “Donald Trump” of Canada; I don’t think he’s too fond of that comparison, but that’s fodder for another discussion.
But in one of the recent interviews I watched, I picked up something that many entrepreneurs don’t realize until it’s too late. You can watch the full interview below, and my commentary is after the video.
You should watch the whole thing, but around 3:30 the exchange I want to talk about begins.
Kevin O’Leary explains that all his failures have come from scenarios where he tried to do it all himself. Instead, he suggests that you partner with someone that is better at the part that you’re the weakest to “fill in the hole.” In this particular deal, he talks about how he gave up the CEO title and split his ownership in the company to show his commitment to his partner and to ensure that they would be successful.
The key to success as an entrepreneur is not to understand your strengths, but to understand your weaknessesClick To Tweet
The key to success as an entrepreneur is not to understand your strengths, but to understand your weaknesses. – Kevin O’Leary
As entrepreneurs sometimes we’re proud, our egos get in the way and we think that we can do it all. In fact, we want to do it all. But that’s really the wrong way to go about making money. Instead, we should find ways to compliment our skill sets with other people so that our combined strengths can benefit us more.
When you’re trying to start an online business or a business from home, or you have a business opportunity, don’t undermine it by trying to do it all yourself. Don’t try to find how you could replicate it yourself and do it on your own. You’re going to fail, you’re weak at many things. It is for this reason that I give you this advice, but I also live by it.
Yeah I’m a smart guy, and I can build websites, I can build sales funnels, I can create graphics, banner ads, email campaigns, I’m the best troubleshooter I know, I can help customers get out of tight spots, and I can do all that. But instead, I focus on what I want to do, spend time with my family; spend less time working; have fun while doing it. I focus on my core strength and aspirations. Blogging, I blog about stuff I like, about how I do things, and in the process, I refer people to products and services that will be valuable and beneficial to them, and I let other people do the selling, distribution, fulfillment and customer service.
I was asked why I promote MOBE recently, and this is exactly why. I found value in MOBE back in 2012, and I recommend it if you’re looking for a business opportunity that is out of this world. The affiliate commissions are the highest of any program I participate in, and the business education courses they offer are legit, they have practical hands-on applications and the mastermind events I’ve attended are awesome.
Matt Lloyd and MOBE are those partners that we’re talking about here; they fill in the gaps. MOBE takes care of making the products, selling them and providing fulfillment and customer service while providing me with a huge commission for every customer I refer to them. I can spend time blogging, and finding customers that will get value from these products, then Matt, his products, and his sales team takes care of the rest. MOBE is by far, my favorite affiliate program. If you are looking for a good opportunity, if you’re looking for a good partner, then MOBE is probably one of the best you will find out there.
And yes, as a matter of disclosure, if you check out the WiFi Millionaire Book, which I recommend ($3.00 ebook link), or the 21 MTTB training program (link), or the UDCL system (link), or any other product, I will get a commission. But you knew that already, right?