"It's a big deal"- Shark Tank investor Kevin O'Leary talks about trust in business

According to Kevin O'Leary, an entrepreneur, investor, and known TV personality on Shark Tank, trust is one of the key bedrocks to success in business. Recently, Kevin O'Leary posted a video clip on his YouTube Shorts account on December 15, 2024, from one of his interviews.

As per O'Leary, having open lines of communication among employees and customers develops a sense of trust while effectively ensuring that critical information is flowing within an organization.

“The more people I give this number to, the less it rings. But when it rings, it’s a big deal,” he said.

He explained that making himself available to employees and clients demonstrates respect and fosters trust:

“I tell them simply, ‘Look, I want you to have this access because I respect you, and I want you to know that you can come to me.’ And in that trust, I find that most people never use it.”

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Trust in business leadership: Insights from Shark Tank's Kevin O'Leary

O’Leary shared insights into his leadership style in a YouTube post on December 15, where he explained his practice of carrying two phones: one for family and one for business. He emphasized that this system ensures that employees and customers feel empowered to communicate important concerns directly to him.

“Many managers think, ‘If I give my number out to my employees, they may call me.’ And the truth is, you want to hear from them. You want to hear the bad news first,” O’Leary stated.

According to O’Leary, the accessibility reduces unnecessary communication while ensuring that vital issues are addressed promptly. However, he underscored that when his business phone does ring, it signals a situation requiring immediate attention.

The Shark Tank investor described how repeated complaints about senior leadership or company operations prompted him to investigate the problem directly.

“When I keep getting that phone call, I get on the plane because there’s something wrong,” he explained.

Kevin O'Leary visits "Outnumbered" (Image via Getty)

Speaking at the University of North Dakota’s Nistler College of Business in February 2024, O’Leary highlighted the critical role trust plays in building and maintaining professional relationships. Crediting this principle to his mother’s guidance during his teenage years, he stated:

“If you always tell the truth, you’ll never have to remember what you say.”

O’Leary explained that dishonesty can permanently damage business relationships. He compared the loss of trust in business to its effects on personal relationships, stating:

“When you do business and use the tactic of being untrue and get caught—and you will—that is the end of your relationship.”

The Shark Tank investor underscored that trust is foundational to preserving the “equity” of relationships over time.

Kevin O'Leary visits "Outnumbered" (Image via Getty)

O’Leary emphasized that authenticity is another essential element of trust, particularly when building a personal or business brand. During his UND address, he explained,

“The only way to be authentic is to just be yourself 24/7.”

He said that being genuine in communication and actions strengthens trust with clients, customers, and stakeholders. He further highlighted the power of social media as a tool for establishing authenticity. O'Leary cautioned that promoting products or ideas insincerely could undermine trust.

“If you’re trying to sell something that you don’t really use, and you’re just doing it for the money, they’re going to call you out on it,” he stated.

The Shark Tank investor also described how trust and authenticity can enhance professional opportunities. He explained:

“The beautiful thing about building a brand and a reputation as someone who executes on things, is that everyone returns your call."

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New episodes of Shark Tank air on ABC on Fridays at 8/7c. Don’t miss the latest insights from Kevin O’Leary and the rest of the Sharks! Fans can also stream Shark Tank episodes on Hulu.