The Shark Was Out of the Tank in Mission Viejo- Margot Ferron More than 400 eager, people attended, “The Cold Hard Truth on Women, Men & Money” at the Norman P. Murray Community Center on Monday night, Sept.16, 2013. The Mission Viejo Library hosted the event and naturally, O’Leary was promoting his book. “Cold Hard Truth on Men, Women & Money” is a book on how to have a healthy relationship with money, spending habits, debt control and teaching kids about money. Kevin O’Leary, Shark Tank investor, multi-millionaire and author spoke to the crowd for 30 minutes and then opened it up for questions and answers. He was humorous and of course hard-nosed. The Journey of Life was the message in terms of men, women and money. He chooses to invest in women because they take fewer risks than men, set goals and they aren’t as emotional with their money. “A family is a business unit- financial and emotional. You can survive infidelity, you can’t survive financial ruin.” O’Leary stated. His Mom was a seamstress and he learned from her at a young age how to invest his money. She would take him to the bank with her and put 1/3 of her earnings in savings through stocks and bonds that yielded interest and dividends, spending only the interest. When kids finish college, it is over. You have to kick them out of the nest even if they can only get a job flippin’ burgers. By giving them everything for free you are not challenging them to launch their own lives and be successful. In the future O’Leary plans on starting a charity to invest in kids, specifically 11th and 12th graders. He will give them $5,000 and let them do what they chose. “Is there a commonality in failures on Shark Tank?” an audience member asked. To succeed on Shark Tank you need to be able to articulate your business in three minutes, in five minutes explain to us why you are the right person and then explain the numbers. To read more on Kevin O’Leary’ background go to theglobeandmail/report-on-business/rob-magazine/kevin-oleary. The story is that O’Leary made a name for himself by selling his software company to Mattel, Inc. As history would have it, Businessweek labels it as “The Worst Deal of All Times.” Shark Tank starts shooting today at 5 am on the MGM Studios lot (where the Wizard of Oz was filmed) in Los Angeles for the next 10 days straight.
Posted on: Tue, 17 Sep 2013 19:10:58 +0000
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