Cold Hard Truth: On Business, Money & Life by Kevin O'learyCold Hard Truth: On Business, Money & Life by Kevin O'leary

Cold Hard Truth: On Business, Money & Life

byKevin O'leary

Hardcover | September 27, 2011

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Kevin O’Leary shares invaluable secrets on entrepreneurship, business, money and life.
Can you make millions just by “visualizing yourself rich” as some business prophets suggest? Don’t buy it, says Kevin O’Leary. If you want to be a successful entrepreneur and amass wealth, you’re going to have to work for it. But the good news is: with the right guidance, focus and perseverance, you can turn entrepreneurial vision into lucrative reality and have the personal freedom that only wealth can buy.  

Kevin O’Leary would know. The much-feared and revered Dragon on the immensely popular show Dragons’ Den (and Shark Tank in the U.S.) started his company in his basement with a $10,000 loan from his financially savvy mother. A few years later, Kevin sold that company for more than four billion dollars. In this compelling, candid and, above all else, brutally honest business memoir, Kevin provides engaging, practical advice and lessons that will give anyone a distinct competitive edge.

KEVIN O’LEARY is one of North America’s most successful business entrepreneurs, as well as a star on CBC’s Dragons’ Den and ABC’s Shark Tank. Kevin founded and built SoftKey (later The Learning Company), the global leader in educational kids’ software, and negotiated its sale to Mattel for $4.2 billion in 1999. Since then, he has succe...
Title:Cold Hard Truth: On Business, Money & LifeFormat:HardcoverDimensions:256 pages, 9.32 × 6.26 × 1.04 inPublished:September 27, 2011Publisher:Doubleday CanadaLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0385671741

ISBN - 13:9780385671743


Rated 4 out of 5 by from Interesting Read Great way to read up on the man himself, while getting a good look at his beliefs.
Date published: 2017-09-30
Rated 5 out of 5 by from Wonderful O'Leary's no-nonsense and direct approach is translated beautifully into written form - this book is a great combination of his own life story as well as some valuable advice for aspiring business individuals!
Date published: 2017-06-20
Rated 4 out of 5 by from Great book An amazing book for someone who like business.
Date published: 2017-06-04
Rated 4 out of 5 by from Tough love book Incredible book with practical knowledge to lead anyone to attain financial goals. He has limited emotions when it comes to teaching, and that makes him an incredible teacher. Love this book
Date published: 2017-04-03
Rated 4 out of 5 by from Good Read Gives a good example of how hard work pays off. Like I said in my title, "Good Read". Enjoy. #plumreview
Date published: 2017-01-31
Rated 4 out of 5 by from Good business read I understand Kevin O'Leary much better after reading his first book. Not only do I now get why he is the way he is, I have greater respect for him and what he's accomplished. Kevin gives practical business advice and speaks the truth (its brutal), so you might have to pick and choose what tips to take away from his book.
Date published: 2016-12-02
Rated 5 out of 5 by from Excellent Excellent book;could not put it down.
Date published: 2016-11-07
Rated 5 out of 5 by from THE BEST BOOK I HAVE EVER READ!!!!! The best book ever. Go to the store and buy one now, it's amazing:)
Date published: 2012-12-27
Rated 5 out of 5 by from Brutal, but it's so true. Love this guy. His words are brutal. But he's not afraid speaking about the truth in the real world. No suger coating. I can't put the book down.
Date published: 2012-02-13
Rated 5 out of 5 by from Easy to read I could not put this book down, also picked up a lot of good tips. Kevin turned out to be a good guy after all.
Date published: 2011-12-21
Rated 5 out of 5 by from A Must Read The book does not disappoint and is true to it's title - in fact, right from the inside cover the book stakes it's claim as a no-nonsense slap upside your head read taking a swipe other books and authors asking you to "visualizing yourself rich" - the book takes a brutally honest approach providing the steps, intensity and no B.S. approach necessary to obtaining all goals Mr. O'Leary documents the valuable lessons he learned, sometimes humiliating, that made him take responsibility for his own actions in creating a four billion dollar business out of a $10,000.00 investment, working out of his basement - Mr. O'Leary was able to create his own luck and all success was well earned, surprisingly while suffering from dyslexia Through the many great lessons provided you can easily avoid many of the pitfalls many entrepreneurs encounter - I believe this book is a must read for all students and most importantly those protestors taking part in the current occupy movement on Wall Street and other cities - if these folks had any idea of the amount of hard work and sacrifice, including time away from family, to become the 1% they rally against they would appreciate and perhaps be inspired to follow such a path - they can then make a real difference towards society or the 99% they claim to represent I give this book my highest review - thank you Mr. O'Leary for for an excellent read, a book that that Ayn Rand would thoroughly enjoy In closing, here is a my favorite quote: "Capitalism creates freedom, after all, and I can't think of a loftier, more important calling than that."
Date published: 2011-11-29
Rated 5 out of 5 by from Show me the money! Yep, that's what Kevin seems to be doing the best - sniffing where the money are and making sure he gets there first! Interesting story from the person who proudly says that a lot of people call him @$$hole and I think he is really proud of it. Anyway, loved the book, will recommend for sure - makes you smile, makes you think and got a lot of lessons about the money.
Date published: 2011-10-19
Rated 5 out of 5 by from Surprisingly good! My husband had picked up he Dragons' books for his business department at school. I just picked this on up to read over the Thanksgiving weekend. I don't usually go for this type of reading material, since I think it's probably dry. I was surprised that I couldn't put it down! Kevin's personality comes right through in the pages, and it's entirely amusing. The book also inspired me to be a bit more of a chance taker, or at least think about it.
Date published: 2011-10-14
Rated 4 out of 5 by from Cold Hard Truth I went into this book with a different idea of what it was going to be, I liked it. Not mean I didn't want to read the book or I didn't think it would have good information but the life part was very interesting and told in a way that was witty and a little funny. Most Interesting was to find that the seeming cold hearted dragon had to over come disabilities and family separations in a few very hard ways that help him separate the feelings from business. Thought out the book at the end of each chapter there are summaries of the main points made and what you should have taken from it. So if your really lazy I'm sure you could get the point by read each one of these, but I would recommend the read.
Date published: 2011-09-27

Read from the Book

SPEND THE INTEREST, NEVER THE PRINCIPAL— AND OTHER LESSONS MY MOTHER TAUGHT ME Why A$$holes Get Rich It was the fall of 2006, and the place was Pearson International Airport in Toronto. I was with my wife, Linda, and our kids, Savannah and Trevor. We had just flown in from our place in Boston to hit the Toronto International Film Festival. I had to use the men’s room, so I asked my family to wait outside for a second. While washing my hands and minding my own business, I could sense next to me a stranger turning and staring at my profile. He was doing it every few seconds. These were the early days of Dragons’ Den. If you tuned in to the CBC show back then, you’d have seen five well-dressed venture capitalists shifting around uncomfortably in mismatched chairs in some anonymous warehouse in downtown Toronto. The cast that first season consisted of Jim Treliving, of Boston Pizza fame; Robert Herjavec, who made a fortune in Internet security software; Laurence Lewin, who had an enviable job helming a lingerie empire; and Jennifer Woods, a whip-smart cattle mogul. One after the other, jittery entrepreneurs descended a staircase to present their business proposals, in hopes of scoring much-needed injections of capital to take them to the next level. Much like in the real world, we invested in some, but we dismissed most. I have to admit that on more than one occasion during the shoot, I thought I had made a mistake aligning myself with this strange TV show that had originated, naturally, in Japan. Back then, the pitchers were corralled in a hot tent in the middle of an industrial pit in downtown Toronto. We were fed bad food, worked long hours, and, frankly, were less than impressed with the quality of business ideas being brought to us. I’d seen the British version of Dragons’ Den, which by then was heading into its second successful season, but I wasn’t sure that a show about venture capitalism would really take off in Canada. I find the world of venture capitalism to be the most exciting arena known to man. But it’s also full of dry jargon, where you bat around terms such as ROI (return on investment), EBITDA (earnings before interest, taxes, depreciation, and amortization), and valuation (what you think your company’s worth). Riveting stuff to my ilk. But I worried that producers would have to cut out the business essentials in order to make a show like this palatable to the average viewer, thereby alienating its core audience of business fans. We debuted on October 3, 2006, to lackluster ratings—a disappointment, but not a surprise. Every week, however, the ratings seemed to creep up a bit. By the end of season one, we were a cult hit—by no means as big as we are now, but people had begun to tune in. I started to become recognized in public, at first in the business arena, and then at the odd restaurant or function, and now I was being gawked at in an airport washroom! Finally, I shot the guy a look, as though to say, “Do you mind?” And there it was, that flicker of recognition. “Hey,” this stranger asked, “are you Kevin O’Leary? From that TV show Dragons’ Den?” “Yes, I am.” “I love that show!” “Thank you.” “But you are a total asshole.” “Oh, really?” I said, a little shocked by such an insult. “Why do you say that?” “Because you and those other Dragons stole that company from those kids last night. Asking for 50 percent. It’s outrageous! You completely stole their company and their souls.” He was talking about a company called JobLoft, created by three savvy MBA students. They had built an easily navigable website that advertised minimum-wage jobs in restaurants and other franchises. I, and a few other Dragons, leapt on it. During the pitch, Jim Treliving alluded to the increasing difficulty in finding restaurant workers for that high-turnover industry, and here was a website that corralled them. (The deal fell apart during the check handover, in a spectacular storm of post–due diligence hubris. More on that in chapter 9.) “Wait a minute,” I said to the irate guy in the bathroom. “Those kids built a great website, but they’ve never run a business. We have every right to want control. That’s what you do when you get into business with novices who’ve never made a dime. They’ll learn a lot from us. And that knowledge, my friend, doesn’t come free.” “Still,” the guy said, throwing his spent paper towel in the garbage can, “you’re an asshole.” “Maybe so,” I said, “but assholes get rich because they’re not afraid to ask for what they want.” The gentleman left in a huff. He saw a woman standing outside the washroom. “Guess who’s in there,” he said as he passed her. “That asshole Kevin O’Leary from Dragons’ Den.” “Yes,” the woman said, smiling wearily. “I know.” That woman was Linda, my wife. Since that incident, I have been called much worse names than “asshole”—on and off the screen. And I’ll tell you why it has never bothered me: because I speak the truth. Not just because I’m a nice guy and want to do the right thing, both of which are mostly true. I tell the truth because I don’t like to lead people astray or to waste time. Money’s great, money’s the point of everything, and I can always earn more. But time is a scarce commodity. It is the true universal currency, because you can’t invent, manufacture, or buy time. And not a day goes by when I don’t lament that fact. Therefore, I have no time for people, places, or things that waste it. A few months ago, I received a pitch from a smart-sounding sales guy about launching O’Leary Funds in India. It was an interesting proposition, but midway through the conversation, obstacles began to surface in my mind. As this man was speaking, I realized that the hurdles we’d have to overcome were too high at this juncture in our company’s growth cycle. There’d be no way to structure the funds so that they’d get the kind of yield that O’Leary Funds investors were accustomed to. I interrupted the pitch and told the sales guy that, for now, expanding into India was not a viable plan. But thanks anyway. He asked me if we could still book lunch, if only to lay the groundwork for a possible future collaboration. I said no, we wouldn’t be meeting for lunch. He implored me. I said no again. There was an uncomfortable pause. Instead of calling me an asshole, which is what I think was on the tip of his tongue, he thanked me and got off the phone. I had clearly hurt his feelings. But my only thought was, “Oh well.” Unless there’s money to be earned, I don’t take meetings with people I don’t know or need to see. That hour of lunch went into a precious “time bank” I guard as fiercely as I would a few bars of gold. You might say that this man could have become a valuable contact, someone I could eventually do business with. Maybe. But instead of spending my time on more remote possibilities, I prefer to spend it on current ventures I know will yield results. That’s why I said no. It’s not personal. I call myself the Merchant of Truth because I speak the truth to everybody all the time. And it can sound blunt to the unaccustomed ear. It might make me come across as an asshole, but that’s only because the brutal truth is so rarely spoken these days. It’s like an ancient tribal language we’ve forgotten we know how to speak. But it’s a language I learned at the feet of a woman who was a master with money: my mother, Georgette. NEVER LET THEM SEE YOU SWEAT . . . AND NEVER PAY WITH CREDIT I was born in Montreal, Canada, in 1954, smack dab in the middle of the baby-boom generation, about as statistically average as you can get. But nothing about my family was average. On my mother’s side, I’m descended from a long line of Lebanese merchants, who passed down that vital Phoenician blood. The Phoenicians were merchant mariners—traders and sailors—who basically put a price tag on one-half of the Mediterranean, selling it to the other half. Silk, tin, wood, or textiles—it didn’t matter as long as they could make a buck. That Phoenician facility with money, coupled with my biological father’s Irish charisma and gift of the gab—a laboratory couldn’t blend a better vintage of salesman DNA than mine. Business is bred in my bones. In 1904, my maternal grandfather, Joseph Bookalam, came to Canada from a small village in Lebanon. He was sixteen, and he headed straight to the mining town of Cobalt, Ontario, where he had an uncle who owned a general store. He worked like a dog for about three years, running the till, handling the inventory, and serving customers. Finally, he’d saved enough money to buy a horse and sleigh, and he struck out on his own. Like his forebears and his progeny, he couldn’t stand working for someone else, so he became a roving salesman, trading with indigenous populations that dotted the outlying villages. Like a true Phoenician, he didn’t care who his clients were; he had no issues with their religion, ethnicity, or race. If you wanted what he had, he’d sell it to you: cooking and hunting utensils, supplies for the fur trade, all of it for cash. The man didn’t do credit.

Editorial Reviews

 “O’Leary’s book reads exactly like he talks on Dragon’s Den. He’s a consummate marketer, so it’s no surprise he does a masterful job of telling his life story with the right mix of swagger and humility. You’ll gain a deeper appreciation for his business acumen, drive and determination. And if you’re an aspiring entrepreneur or someone who’s debating whether to pursue your passion, you’ll get some invaluable advice and cold hard truth for the bargain price of just $29.95.” —Hamilton Spectator“[Kevin O’Leary] is a master at relaying the cold, hard truth to people, even when it makes them cry and stomp their feet. That's why the title of his new memoir, Cold Hard Truth, cuts to the heart of his philosophy of life and money, which really boils down to one thing: focus on making cash or get out of business.” —Chatelaine