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Shark Tank investor Kevin O'Leary doesn't have secrets about choosing the best deal to invest in and believes in keeping his options open. In a November 19 Instagram post, he shared his core strategy for selecting the best investment. In the video, he shared that sometimes, small decisions can have a huge impact on an individual's life.
O'Leary stated that he doesn't know if an investment would be successful until he actually invests in it.
"People ask me all the time, 'Oh, how do you know if you have a winner or not?' The answer is you don't know if you have a winner," he said.
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He encouraged young entrepreneurs to invest in as many opportunities as possible, noting that the small, most inconsequential deals, ones they initially overlooked, often deliver the biggest returns.
"That's why you got to keep your options open all the time. I call it option value. Option value in life is absolutely huge. Never give up your options. Keep as many options open as you can, cause the smallest thing can be worth a fortune one day," he added.
Shark Tank investor Kevin O'Leary buys a watch every time his company gets sold off
Kevin O'Leary encouraged young entrepreneurs to invest in as many deals as possible due to the unpredictability of the business. Over the years of doing this on Shark Tank, he had tried his eyes on telling if a deal in front of him was worth investing in.
In his interview with Parade on August 6, 2021, O'Leary revealed that he can determine within 30 to 40 seconds of a pitch whether a business has the potential to succeed or not.
"When people first come out to the carpet, they're right in front of me. Over the last few years, I've taken to just looking at them. This may sound crazy, but I can tell after just 30 or 40 seconds: winner or loser. And I'm never wrong," the Shark Tank investor said.
He added that there's an aura around successful people. These entrepreneurs have a confident look in their eyes that "losers" don't have.
O'Leary further talked about how he and his deal with the companies he invested in daily. He shared:
"Each day with my portfolio, my family of companies—and this happened this morning just before we started talking—I get a call of euphoria. Somebody calling me saying, 'We just had a takeout offer. They want to buy us for $100 million cash.' And I also get a call saying, 'This is a catastrophe, I think we're going bankrupt.'"
The Shark described the experience as "a human drama," adding that he eventually learned to adapt. However, when such issues come up, he tries to help the situation as much as he can to come up with an optimal solution.
O'Leary further shared that, at the time of the interview, he and his firm were going to announce a big exit as one of his early Shark Tank companies was getting "acquired by a big brand for cash".He also shared that he buys a new watch whenever he gets a deal.
"I've got a lot of watches. It's my habit to associate a successful exit with a new timepiece. And so, this is going to be a big one. It's wonderful. We've created so many millionaires. We've sold billions of dollars worth of consumer goods and services. Who knew this would happen? Nobody," he added.
Shark Tank season 16 episodes air every Friday on ABC.
