Manila – Philippine entrepreneurs should learn to "absorb failures" if they want to turn their ideas into game exchange companies, according to a venture capital and reality video host that helps big dreams scale up to several million dollar companies.
Cultural barriers begin to descend and will soon begin in the Philippines, one of the fastest growing economies in the world, says Kevin Leary, chairman of O & A Shares ETF and lead shark on the American television network ABC's "Shark Tank" .
"You must be able to address failures. Entrepreneurs get better after mistakes because they learn from these," says Leary.
"When you're passionate about a product, you're not making big money. Entrepreneurship is about the quest for freedom," he said.
Leary spoke exclusively to ANC's The Boss before joining the ANC leadership forum, where a lucky Philippine customer was given the chance to be funded by Mr Wonderful.
(Photo via Mitch Ku) pic.twitter.com/42NDYYYhPT
– ABS-CBN News Channel (@ANCALERTS) November 12, 2018
At Shark Tank, the 64-year-old Leary hangs a panel of "sharks" that fires hard questions to entrepreneurs who think they have the next million dollar idea but lack the means to scale up.
In blunt mode, participants are told that their margins are too small or their ideas are disordered and untenable in the long run. In the end, the sharks offer an agreement in exchange for money or a guaranteed profit decline.
On Season 4, Leary offered a $ 80,000 granddaughter team from Boston to a $ 1 share for each bottle of dessert sold until they pay the seed.
After $ 75,000 was paid, O & # 39; Leary asked for a $ 0.50 share that Wicked Good Cupcakes business women reduced to $ 0.45.
– Kevin O & # 39; Leary (@kevinolearytv) November 1, 2018
O & # 39; Leary is invested in at least 16 companies through "Shark Tank", including Honeyfund, an online honeymoon couple and BenjiLock, the world's first rechargeable padlock with fingerprint technology.
Some bets are as practical as they are innovative like Illumibowl, which solves the problem of entering dark bathrooms in the night's end by giving a soft glow to the toilet's inner bowl.
– Kevin O & # 39; Leary (@kevinolearytv) October 8, 2018
On his website, O & # 39; Leary said that he combined his mother's merchandise with his father's Irish charm and started shaking ice cream at a convenience store.
He made it big with SoftKey software company, which he later sold to the American toy giant Mattel.
Leary bounced back, introduced Leary Funds, Leary Fine Wines and Host Discovery Project Earth and CBC Dragons The before Shark Tank.