"It's about the experience" — Shark Tank's Kevin O'Leary talks about career hack

Kevin O’Leary, a prominent businessman and a star on the television show Shark Tank, recently shared insights into navigating early career decisions. His advice emphasized the importance of focusing on experience rather than immediate financial gain.

Addressing young professionals wondering about their next steps, O'Leary recommended adopting an "apprentice" mindset. On December 10, 2024, O'Leary uploaded a YouTube short on his channel, stating:

"It's not about the money; it's about the experience."

O'Leary suggested that early career stages should focus more on learning and exposure. Let's take a look at his advice for budding entrepreneurs.

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Shark Tank star Kevin O'Leary's career advice: The importance of experience over money

The value of apprenticeship

In his December 10 video, O’Leary drew parallels to the centuries-old European apprenticeship model. He noted that working in an area of interest—even without monetary compensation—allows individuals to gain essential exposure.

"The apprentice program started in Europe hundreds of years ago really worked...The idea that you go work for a corporation in some area of interest that you love, even do it for free, just to get exposure to how it works."

He highlighted that this approach helps individuals understand the inner workings of industries and assess their aptitude for specific roles. O'Leary also emphasized how large organizations identify talent early.

"Meet the people that actually do it for their living and find out if you're good at it. They notice talent right away," he stated.

The Shark Tank investor referenced how Swiss companies often nurture promising apprentices. For O'Leary, the apprenticeship phase is not about immediate financial rewards but a critical step in building expertise and professional networks.

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Lessons from failure

In a March 2024 interview with TheStreet at the New York Stock Exchange, Kevin O'Leary expanded on the importance of learning through failures. When asked by Sara Silverstein, TheStreet’s Editor-In-Chief, about why failing in business can lead to stronger leadership, O'Leary remarked:

"The sting of failure is extremely motivating, and usually you've learned your lesson."

The Shark Tank panelist advised aspiring entrepreneurs to work under experienced professionals before venturing out independently.

"I always tell people, be an apprentice for a couple of years. If you love a sector, work for somebody in it and then break out on your own," O’Leary said.

According to him, understanding the challenges of an industry firsthand equips individuals to better navigate their entrepreneurial journey. He also acknowledged that failure can act as a form of professional tempering. O’Leary explained:

"I don’t believe people can do it right out of the gate. It’s very rare...Entrepreneurs that have been stung by [failure] have learned a lot."

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Common mistakes and the importance of adaptability

During the same interview with TheStreet, O'Leary addressed common pitfalls that entrepreneurs face, emphasizing the incapability to adapt to changing circumstances.

"Inability to pivot when facts change," he said.

He highlighted it as one of the most significant mistakes he encountered. The Shark Tank investor mentioned the difficulty of scaling businesses, particularly moving from $5 million to $50 million in revenue.

Focusing on the need for delegation and talent management, he explained that the ability to scale from five to fifty is "rare". O'Leary noted that founders often struggle to relinquish control, which can impede growth.

"Very few founders can delegate authority," he explained.

In such cases, O’Leary shared that his approach usually involves restructuring leadership while retaining the founder as a shareholder. While acknowledging the challenges of these conversations, he stated:

"If you don’t make that change, it’s a cancer inside the organization."

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New episodes of Shark Tank air on Fridays at 8 PM ET and are available for streaming on Hulu.