Alpha M. Interviews Shark Tank's "Mr. Wonderful" (Kevin O'Leary) | Tiege Hanley VLOG 261

This week’s vlog takes the form of a podcast. Aaron interviews Mr. Wonderful, Kevin O’Leary, of Shark Tank fame, on his podcast The Alpha M. Podcast. The two gentlemen discuss finance, investing and entrepreneurship.
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LINKS MENTIONED
➤ Start Engine - https://www.startengine.com/
➤ Beanstox - https://beanstox.com/
➤ Tax Hive - https://taxhive.com/
➤ O'Shares - https://oshares.com/
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VIDEO SUMMARY
00:00 Introduction
Kevin O'Leary of Shark Tank fame and Aaron reunite, talk watches, and financial illiteracy.

04:00 Investing in Watches and Pens
Aaron asks Kevin which watch he’s wearing, which spurs a conversation about Kevin’s experience investing in Rolex watches. Aarons shares a story about a mistake he made selling a Rolex for far too little. Kevin identifies the best watch you can get for $1,000 and $10,000.

13:18 Let’s Talk About Shark Tank
Aaron asks Kevin how the people and pitches on Shark Tank have changed and evolved over the 12-year-lifespan of the show. Kevin explains how the viewership has grown massively, especially internationally. Kevin believes the show is about the pursuit of freedom, not the pursuit of greed. The pitches these days are made by much more mature businesses with established infrastructure and consistent sales. Aaron asks Kevin for the best tip he could give an entrepreneur to be successful on Shark Tank.

20:49 The Most Difficult Aspect of a New Business
Kevin explains 80% of startup businesses in the U.S. fail because they’re never able to get their customer acquisition cost below the lifetime value of the customer. They basically go bankrupt advertising. Kevin sees this happen a lot. The first question he asks new entrepreneurs is “what is your customer acquisition cost?”

28:40 Kevin and Aaron Hate Debt
Aaron discusses filing for bankruptcy in 2006. He calls debt “the devil.” Kevin doesn’t use debt, he abides by the principle, “if you can’t afford to buy it, don’t buy it.” Kevin tries to think ahead about the return on every investment he makes.

37:44 How Important is a Business Plan for an Entrepreneur?
Aaron asks Kevin about his experience devoting time and energy into business plans. Kevin explains the reason you want a business plan is it forces you to think through your assumptions. If you’re unable to present a business plan you will struggle to win investors. Try to explain your business in 12 pages or less, be concise.
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Видео Alpha M. Interviews Shark Tank's "Mr. Wonderful" (Kevin O'Leary) | Tiege Hanley VLOG 261 канала Tiege Hanley