Kevin O’Leary Says Only 33% Have Entrepreneurial Potential

Kevin O’Leary, a prominent investor on the television show "Shark Tank," has made a bold statement about the prospects of entrepreneurship. According to O’Leary, only a third of the population has what it takes to become successful entrepreneurs. For the remaining two-thirds, he suggests that while they can still lead fulfilling lives as employees, they will never achieve the level of personal freedom that comes with entrepreneurial success.

O’Leary, who built his fortune through the software company SoftKey Software Products, which he sold for $3.7 billion in 1999, emphasizes that the pursuit of entrepreneurship is not about wealth but about the freedom it affords. He notes that many people, including his students at Harvard University, are content with becoming consultants and working for large corporations, which he describes as a life of mediocrity. O’Leary believes that these individuals will never achieve greatness because they lack the drive and decision-making skills necessary for entrepreneurial success.

For those who do aspire to become entrepreneurs, O’Leary highlights one key trait that sets successful entrepreneurs apart: the ability to separate the noise from the signal. He cites examples like Steve Jobs and Elon Musk, who have an exceptional signal-to-noise ratio, allowing them to focus on the most important tasks without distraction. O’Leary explains that successful entrepreneurs can tune out personal distractions and concentrate on the three to five most critical tasks of the day, a skill he observed in both Jobs and Musk.

Other successful entrepreneurs and investors have also identified different traits that contribute to success. Mark Cuban, a former co-host on "Shark Tank," emphasizes the importance of a strong work ethic. Tennis icon Serena Williams believes that discipline and daily effort are crucial for achieving success. Venture capitalist Marc Andreessen, the founder of Netscape, notes that successful entrepreneurs have an unyielding desire to grow their companies, a trait he sees in very few individuals, with Elon Musk being a notable exception.

O’Leary’s perspective underscores the challenges and rewards of entrepreneurship. While the path to entrepreneurial success is fraught with difficulties, the freedom and personal fulfillment it offers are unparalleled. For those who are willing to take on the risks and challenges, the potential for greatness is within reach. However, for the majority who choose a more stable career path, O’Leary acknowledges that they can still lead fulfilling lives, albeit without the same level of personal freedom.