LadyGang - Shark Tank's Kevin O'Leary

Episode Date: May 14, 2019

The fellow Canadian "Mr. Wonderful" stops by to give the Ladies a crash course in business ethics now that they're important business women! Follow the podcast on Instagram @theladygang and e...mail Jac, Becca and Keltie at Hello@theLadyGang.com! And check out the TV show page's official page @ladygngtv!   Check out new episodes of the Lad yGang TV show every Sunday at 11:00 only on E!  And thank you to today's sponsors:  Amazon = Go to amazon.com/shop/ladygang to find their favorite products while keeping the podcast FREE! Lola = Get 40% off all subscriptions by visiting MyLola.com and entering LADYGANG when you subscribe Ring = Just go to Ring.com/LADY to receive a special offer on the Ring Starter Kit Skorch = Get the Skorch App on the Apple Store and enter to win $500 CASH on Skorch’s LadyGang Instagram post at @GetSkorch  ThirdLove = Get 15% off your first purchase at ThirdLove.com/LADYGANG  Walt Disney World = Now’s the time to find your “Happy Place” here at Walt Disney World See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Starting point is 00:01:12 Adjust cooler to warmer. And right now, save up to $2,500 during our massive Labor Day event. Hurry into your local Sleep Number store today. Because we have your number. well what is this welcome to the lady gang that's amazing say that again the lady gang things are about to change around here each week we catch up with hollywood's hottest girl posse kelty knight becca tobin and jack vanik hello hello hello and welcome to the lady gang i'm becca here with jack and kelty sup girl hi guys we're in our new beautiful studio studio is this
Starting point is 00:01:54 our first time podcasting here yeah well since it's got the remodel yeah it just feels better it does it feels clean i'm looking at like a gallery wall of pictures of me which is like my favorite pastime so i feel good there are a lot of pictures of just you well and celebrities it's true i don't know how that happened you and kim k well here's what happened they asked me they're like do you have pictures of lady gang and i was like yeah and i sent them over and i i pictured the pictures of lady gang in here yeah and they're like and you have pictures of you with like celebs and stuff and i was like yeah and i pictured that was going to go in your office but they put them together so it's just like one conglomerate whatever it's fine it's okay i'm not
Starting point is 00:02:30 even facing that way so i'll never really look at it yeah you can look at this beautiful picture of the ocean knockoff um gray melon yeah i think that is a gray melon oh just a print yeah got it i got it at urban outfitters anyway um all right we need to touch up some paint on the walls i'm noticing yeah um on that note it's time for good week yes it is bad week oh no wait what was that stuff called is it sticky tack do you guys remember that it's putty like that's oh i know you know it's green yeah and then you kind of like put it for the posters yeah like if you lived in an apartment in new york and they didn't let you hang out like a dorm room like the walls would break if you put a nail into it yes yeah anyways um i'm kicking off good week bad week
Starting point is 00:03:12 because what our listeners don't know is that every single week for the TV show we would tape our Good Week, Bad Weeks, but sometimes they wouldn't make the edit. Yes, a lot of times. I think they only made it like once. So like some of our best Good Week, Bad Weeks we saved and they never made air.
Starting point is 00:03:28 So I think that I'm going to start telling you guys even though it didn't happen like this exact week this is something that happened that was funny that we didn't get to do. Okay, so my bad week this week is I was on an airplane. It always starts in an airplane. Because so many bad things happen so many bad things and um zach and i had orally we were like flying with us long story
Starting point is 00:03:49 short we were in an exit row you can't fly with an emotional support animal in an exit row so we got booted to the very very very back of the plane you know the seats that don't recline they don't recline yeah so i'm in this miserable seat and then on the poop of the bathroom smelling exactly and then this guy comes up and there's a sweet older couple in front of us and they like aren't understanding they have two middle seats and they're trying to get people to switch with them And I'm like, it's not really how it works. Nobody wants a middle seat for an aisle. And I'm already, like, grossed out because I'm smelling the poop from the bathroom.
Starting point is 00:04:16 So this guy walks up, and the older gentleman is like, sir, I'm not sitting with my wife, but you're in the aisle seat in her row. Do you mind if we switch? And he was like, honestly, I've pooped twice in the last two hours. I'm in no position to switch seats with you and be stuck in a middle seat. He had such a nasty attitude about it. And also he announced it to, like, at least ten rows of people who heard it. And I looked at the guy next to him, and I was like, I am not shy about those sorts of things. But this was so unnecessary.
Starting point is 00:04:45 What if he has, like, an explosive diarrhea, and the person next to him fell asleep? Just say, honestly, I'm not feeling great. Sorry. Not, I'm going to maybe shit my pants. I pooped twice in the last two hours. Like, gross, sir. The details. It was so gross, and everyone on the plane was stunned.
Starting point is 00:05:00 And I was like, is this how everyone feels when I talk about pooping? Yeah, it is. What? No. No. I mean, maybe. Some people. Depending on who it is, yeah.
Starting point is 00:05:09 It's true. Okay. Okay. Okay, here's my good week. Wait, you didn't tell that on the show, did you? No, but it was when I submitted. Oh, I submitted so many they didn't accept. So you don't need a good week?
Starting point is 00:05:19 It's a good week or a bad week? No. No. On the podcast we do both. Oh my God, on the podcast we do both. Where do I live? Okay. You're an idiot.
Starting point is 00:05:26 Wow. Welcome to the Lady Gang. Wow. We've been doing this for three and a half years. For almost four years. So my good week is from weeks and weeks ago, but I'm really sad I never got to do it on the show i won drop the mic oh yeah you got the the i won the trophy did you take the trophy home it's at your house still i don't think it is yes one of the producers texted me and was like i
Starting point is 00:05:50 still have your trophy it's they definitely took it to the studio but anyway well it's somewhere anyway you didn't want it i i did where are you gonna put it oh guys i don't have any accolades like i have nothing it was epic though i watched the whole thing you were the best you were the best you guys were so good i had to take a beta blocker i was so nervous jenna and i were taking beta blockers because it was the most nerve-wracking thing i've ever been a part of it is so so scary to rap while someone's b-boxing behind you while there's an audience while you're like having it and also we had like a coaching session that afternoon before we started it was like the first time we had any coaching and so you go in there like kind of prepared but then like the
Starting point is 00:06:31 coach is basically like you're too white with it so i'm like oh my god i don't know how to do this and not sound like a dorky white girl i still did you are who you are yeah you just gotta embrace it but it was really nerve-wracking you did it you did a great job all i took from that was that hayley baldwin bieber has the sickest body sickest body best face but also becca we had that body when we were 22 too i never i my body was worse at 22 i you might have i had a gorgeous lanky ballerina body at one point but that was cellulite free and i'll never get it back she has she's also so rich that she can keep her body like that she's just young she hasn't hit you know puberty it's true there's like a weird time in like 24 25 is when your body with you yeah 24 25 and then
Starting point is 00:07:20 It happens again like a little late 20s and then it happens again in your 30s. It's three. So you just like keep on kind of like it's really fun. But Haley is gorgeous. Yes. She's also a champion. Who's next? I'll go.
Starting point is 00:07:32 So I have a dictionary word for my good week, which I feel like we haven't done in a while. And it was submitted by Lady Ganger. Jacqueline. She said great name. Jacqueline's better. She said new word for Lady Gang. Trashback. Definition.
Starting point is 00:07:47 a flashback of a time with a trash ex-boyfriend or friend that's great can you add oh wait use in a sentence i just remembered that time my ex made me cry i had a trash bag i have so many trash bags every single person that i've i've dated so that's a good one thank you and i think that she made it up because i couldn't really find anything about it on google has this so has writing this book brought a lot of trash bags back to you yeah oh my god my whole life is a entire essay of all of my trash bags just pushed into one and then i was like holy crap i haven't even dated one good guy no i was there's a chapter where i like go through all my old journals because i had this like journal for 20 years and i was like i am who the f was my friend who had sex
Starting point is 00:08:32 with me who dated me i am um you were just saying how hot your body was that's why i know but i had bad hair I mean no eyebrows same I was like how did I get so many hot guys when I had a fourth of an eyebrow and I was like quoting John Mayer lyrics like it was the goddamn gospel like what am I doing anyway it was insane it's bad okay my bad week is so I just got a spray tan like two hours ago you look amazing thank you well it's still the bronzer so the place I go to is on Abbot Kinney which is super busy and it was nice outside today so everybody's like going and doing things everyone who doesn't have jobs which is everybody well i was at work but all right i was you know getting a spray tan at 1 30 so i'm like trying to find a parking spot there's
Starting point is 00:09:13 nowhere to park so i kind of go into this little cul-de-sac behind abbott kinney where i usually can find a parking spot so i go and i find a spot go to park in it i was kind of late so i pulled in really quick and like got out of my car to go i closed the door to my car and this lady starts screaming at me from her front porch across the street being like could you park any closer to me you bitch no and i was like oh my god did i park really close to her i was like kind of running late so i go to look at my car i'm like a foot and a half away from her i'm like yeah i could have parked a lot closer to you you bitch and then she just starts screaming at me that this is her neighborhood and i can't park there blah blah blah so i go get my spray tan i was gone for like
Starting point is 00:09:53 five minutes i come back you guys she is measuring the distance between our cars with a ruler is Was there a law that was that? What was the measurement? It was longer than the ruler. It was the most insane thing. And then I was telling the girl that I get my spray tan from that lives by her. And she's like, oh, does she have a blue Jeep with her bumper falling off? I was like, yep.
Starting point is 00:10:12 She's like, she screams at me like every day. So all she does is like. No, she just like sits on her front porch and screams at anybody parking in front of her house. What if that was your life? It was a bad life for her. But it was insane. I'm like, I was not even close to her. And it's parallel parking.
Starting point is 00:10:28 You're supposed to get close to people. And she had four feet in back for her. Anyway, she's a bitch. You know what I've dreamed about doing? People hate you because your car's douchebaggy. She had just like a shittier version of my car. Exactly. Do you know what I've always dreamed of doing?
Starting point is 00:10:40 Is leaving the note on someone's car being like, you're a dick. No, the way you pulled into this spot makes me wish your dad pulled out. Oh, yeah. You know they have those like business card style things you can buy like douchebag notes to leave on people when they park that. Should we make some of those? Some Lady Gang ones? I kind of wanted to for Jack Bannock a while ago.
Starting point is 00:10:59 We should. I can't. We can put it in a Christmas book. And you know what we should do? Ones that are like for girls to give to guys at the bar where it's like, I think you're cute. Yes. Buy me a drink.
Starting point is 00:11:08 Yeah. Oh, I like it. It could just be notes for like different situations. Notes for life by the lady. Notes for ladies. Lady. Lady notes. We can have.
Starting point is 00:11:18 Lady letters. There could be one that you have like during Thanksgiving that you can give to your like family of like what you can ask them. I hate you. It's weird. Okay. Bad week. Bad week.
Starting point is 00:11:26 my mom is pissed at me why i did not connect with her in a loving way on mother's day oh no or at all okay do you even wish her a happy mother's day is it mother's day in canada it so it's mother's day in canada it's the same is that an international holiday or is it a here's what happened i'll just be quick because it's not a national it's like in it's in certain there's like six countries that recognize it or whatever right so my brother texts me before and is like i'm gonna get the flowers and a card for us tomorrow i'm seeing mom for mother's day they're in edmonton i'm like okay great so then in the morning i was like i better facetime my mom for mother's day i facetimed her she didn't answer why because my parents don't carry their cell
Starting point is 00:12:06 phones with them right but i can't you're not home so that was my first mistake that was my one and only effort that i put in because i got the flowers with my brother we went in on the flowers but listen to this i also have matching mother-daughter bracelets that i special ordered for my mom but i can't mail them they're too nice so i'm bringing them home with me when i see her next month and i was going to give it to her so then i i text her this morning and i was like how are you how was yesterday and she was very sassy in the text so then i knew she was upset so i called her she was very cold in the in the talking and she was like well you know all i did all day was look at everyone on facebook and everyone's posting because everyone posts these like she
Starting point is 00:12:48 She wanted a social media post. Does she have social media? She does, but I don't post my family on social media. And there's a couple of reasons. A, my brother was arrested for dealing drugs. So like, I'm not sure that I'm going to put that out into the world and have the paper trail of that. You just did.
Starting point is 00:13:03 Okay. And also it's like, I don't know. I just like want to keep the paper trail of it. You literally just blasted it on the podcast anyway. So I felt like a real dick. And then I was like, you know what? I'm an asshole. So then I called the florist in my hometown, who's my friend, Wendy, who went to high school
Starting point is 00:13:19 with tickled floral. What's up? And I was like, I want $250. I want the biggest obnoxious Edmonton that probably buys the store. It's Canadian. No. And the lady was like, whoa, really? She's like, the most expensive bouquet we have is 170.
Starting point is 00:13:32 And I was like, add more to it and deliver it right now within the hour. So then on the card, I just put, sorry, I'm a dick. Oh my God. Did she call you? Yeah. She texted me. She's like, I'm sorry. You have so much going on in your life.
Starting point is 00:13:44 you shouldn't have to worry about a crabby mother my mom's mom passed away when she was like in university so like mother's day is a hard day for her like she doesn't have a mom she hasn't had a mom her whole life so i can understand why and also she's extra proud of me and like i'm her special child and i know she loves me the most so it's like when she doesn't hear from me she's upset okay anyway i fucked up mother's day so well you redeemed yourself you're good i just feel so bad because i do really love her but i'm the kind of person like i love my mom every day yeah i don't really like once a year need to i just it's the same thing as valentine's day it's all bullshit i just missed like one of my closest friends birthdays like forgot about it yeah like three
Starting point is 00:14:21 days later to remember the other thing that's now so annoying is that people play a game where they refuse to post anything on their birthday to see who forgets uh wake up posted a birthday instagram so i remember your birthday i don't i literally know my boyfriend's birthday and then that's it and then i know your guys's because we guys work together i just forgot Zach's birthday yesterday I was deciding on what to get him for his birthday and I was talking to someone. When's his birthday? It's in July the 26th
Starting point is 00:14:48 and I said the 27th and my sister was standing next to me. She goes his birthday is actually the 26th. I was like some people are birthday people though. I don't know these things and I also don't know what day it is ever by the way happy birthday Jack. It's tomorrow but by the time this airs
Starting point is 00:15:05 it will have been two days ago. Well no this is going to air tomorrow. Oh thank you yeah happy birthday birthday today i lived through it okay cool all right good week today i um hosted a uh movie panel with olivia wilde she's this new movie book smart and there's this part in the movie it's beanie feldstein who's so funny so funny and there's a part of the movie so i'm now going to like reenact it but i'm going to do improv for you guys oh god so okay it's like they just all the whole movie the two best friends just like all they do is compliment each other so here we go oh i just broke my nail these nails are shit this is my third broken one oh
Starting point is 00:15:44 get the hot wax it's lasting me weeks what's a hot wax my new favorite thing and my nails what is it they've been on for tell us what it is i don't know but i get it done so it's like it makes your nails like as tough as acrylics but it doesn't up and it's like a gel like you put it under the thing let me see your nails my nails sure it's you know how bad i like pick up my nails too is it the powder it's like a gel so like they do it from the pot that's like a clear gel and they put it on you put it in the little sorry there's a finger in your office i haven't but they don't they don't peel off like wax does i don't have okay back to me anyways okay highly recommend how dare you are gonna eat some of that cookie
Starting point is 00:16:24 how dare you show up being so beautiful to this lady gang filming with a matte red orange lip the perfect shade it's like goddamn the sun is shining in my eyes while i'm looking at you thank you it's like and then jack someone call the police what i can't wait to see how she's nine one one we got a hot who do you think you are coming in here with no makeup looking like a glorious baby-faced royal baby times 10 archie archie with those volumous top knots and and she dares to wear her a sweatshirt of her own design that's a true icon you're incredible oh wow is this what the whole movie is it's just like a part of the movie it's like so good they see each other in the morning and they're like excuse me excuse me how are you
Starting point is 00:17:21 how are you on earth right now you're just going to school looking like a goddamn goddess and that's how they like start their day it's so adorable anyway the movie's great do you guys want to do me for a second or no we're gonna move on okay when we come back kevin o'leary mr wonderful is making his lady gang triumphant return now back to the lady gang our guest today hey we're taking you to canada my home and native land he's a fellow canadian who gives the country a much better reputation than i do myself he's an entrepreneur financier author is that a word television personality who decided he what he wanted from life after being fired from the local ice cream shop unwilling to clean the floors honey he went on to launch multi-billion dollar
Starting point is 00:18:06 companies including special event television soft key and storage now but he didn't stop there known for his honesty and aggressive deal making he found his way into the world of tv as an investor on Shark Tank, which we love so much. Please welcome to the show a man who loves wine just as much as us, Mr. Wonderful, also known as Kevin O'Leary. Welcome. Thank you so much. Thank you so much.
Starting point is 00:18:27 So this is going to come out after you've already been on our show. Right. So first, we can talk a little bit about that. Yeah. Okay. So thank you for coming on the Lady Gang. Are you still scarred? No.
Starting point is 00:18:40 Are you still thinking about investing in the muffler? First of all, I'm in therapy because of that. You guys are crazy chickens, there's no question about it. And you have a lot of energy, but you're sick puppies, you know that. We know that. We know. It was so fun to have you on the show. It was great.
Starting point is 00:18:55 Because we love to be scared by people. Yeah, and we honestly, well, we had an idea of how you would react, but you exceeded our expectations like a million percent. It's true. It was a lot of fun, but I want to congratulate you on your success because you've caught some kind of an ethos out there. are people's, the way they're thinking is in sync with what you're doing. And I think that's remarkable when there's three of you, because you're all different personalities, and somehow when it comes together, it's a crazy broth.
Starting point is 00:19:23 Thank you. It is crazy. It's been a ride. We need a lot of advice. Yeah, you do. But I do not fail. First, I want to talk about dollars. What product have you invested in that's made you the most money?
Starting point is 00:19:35 You know, the funny thing about Shark Tank, when you think about it, is it lets people that have a product or service that are for consumers, and gets them in front of 10 million people a week, including syndication. So what we've learned as investors, and I certainly have over 10 years, is find a product that everybody would buy or eat and invest in that, and you make a shitload of money. And I'll give you an example. A commodity like a cupcake, Wicked Good Cupcakes,
Starting point is 00:20:02 has been the most successful return on investment Shark Tank's ever seen. What? Really? Because who doesn't like a cupcake? I love a cupcake. Wish you would have brought them with you. It's now, well, right to the hips, ladies. You don't want to do that. 660 calories. But the point is, no one had ever thought.
Starting point is 00:20:17 For one cupcake? No one had ever thought of putting a cupcake in a mason jar and FedExing it to people. And it's all, there's no preservatives. It tastes great. It's the number one cupcake FedExed in America now as a gift. And the two ladies that started the company. Are billionaires. Well, they're multimillionaires and they live in North Carolina now because they like the weather.
Starting point is 00:20:35 They came from Boston. 95% of my returns over 10 years have come from companies run by women just like that one. So I invest in women now. I remember you saying this. We were kind of talking and we were like trying to get you to come on this podcast. And you were talking about why women make such great CEOs and businesses. Lean into that, honey. I need to hear about that.
Starting point is 00:20:54 You know, I tried to figure that out because clearly after seven years of this, starting to see how the women-led businesses are doing so much better than the ones I'd invested in with men, is I went and talked to them and we learned a couple of things. Number one is they set goals that they achieve 95% of the time. So if you look at a quarterly sales estimate from a company run by a man, they do it about 65% of the time, and they set these really high goals. Women set goals that are achievable, and when you do that, here's the secret sauce. The culture in the company changes. People don't want to leave.
Starting point is 00:21:21 It's like being on the New England Patriots. Somebody wants to get fired. Right, you're on the winning team. Winning team, culture's sticky, there's no disruption. They're just better at mitigating risk. And that old adage, if you want something done, give it to a busy mother, holds true. So now I quietly invest in companies run by women, and my returns have been spectacular. Wow.
Starting point is 00:21:42 What's the biggest flop? You know, there are many. About third fail, probably the one that Cuban and I did called Toy Guru, which was the Netflix of toys. You know, when you have a child. I saw this. I thought this was such a good idea. I think you were telling us about this, too, before. You would think it would be because when you have a child sort of from birth to last day, you want to give them a lot of toys.
Starting point is 00:22:07 And they send you a box every month that failed miserably because the person running it was a bad manager. That sucks because it is such a good idea. We lost half a million dollars, which really pisses me off. Oh, shit. I'd be living on the streets. We're both BarkBox people. We love our children getting toys every month. The dog toys and the treats.
Starting point is 00:22:23 Yeah. So that kind of works because it's out of sight, out of mind. The box comes. You're happy to pay the subscription fee. It's funny how some of those work and some don't, but we've had catastrophic successes as well as catastrophic failures. That's why Shark Tank is so visceral. You just don't know what's going to happen. I guess my question, and I wrote this like just this morning as we were just chatting.
Starting point is 00:22:45 One of the things that now we're dealing with as a company is that we were on this rise. Like we started the podcast. It was a hit, and then everyone was coming, and it's been yay, yay, yay all the way. And now we're four years in and we're starting to feel our first failures where we have branched out into different things. And some of them work and some of them don't. The fan base in the community is still strong. Our mission statement is strong, but not everything is 100% like we're the best in the world, you know. And so how do you deal with that failure, move forward, not let it kill your insides, like your guts, you know?
Starting point is 00:23:23 Well, the first thing to know in business is that there is no such thing as success without failure. The key to failure is learning from it and not doing it again. And so that's important. In terms of your base of people, I mean, you're a social media phenomenon. There's no question about it. People relate to you. I found with all of the Shark Tank companies, you can't bullshit people. You've got to tell them the truth.
Starting point is 00:23:45 Bring a product out. It's a dog. Admit it's a dog. Stop selling it. Try something again. And, you know, honesty, transparency is the new vogue in American business. So you might as well just deal with it. You know within 90 days when you bring a new product or service or a piece of clothing or cosmetic of some kind, you know right away if it's going to work.
Starting point is 00:24:03 You can just tell. You look at the first three months of sales, and if it's a dog, I take it behind the barn and shoot it. And I ask people, why didn't you love this idea? What was it about you you didn't like? And that actually helps you design the next offering. So don't complain about failure. The fact that you have to deal with failure means you're successful because you're trying a lot of different things. I mean, four years in today's world, four years in today's world, you used to be young girls when you started this.
Starting point is 00:24:32 Now you're old women. It's true. We got so old. Honey, we need to make more money because the amount of Botox we have to get now to keep. I know. It keeps having to up it up. I wanted to ask you about that because, believe me, that's a topic everybody wants to talk about. Botox?
Starting point is 00:24:47 No, no, anything, any augmentation at a young age makes no sense. And yet I meet a lot of women in their early 20s that have really chopped themselves up. Isn't that a little early? It is. And I think that we're lucky that that kind of didn't, that trend didn't happen when we're younger. Because I feel like we all probably would have fallen into it. Well, a lot of us get in that like mindset of prevention. We're fed this lie by all these industries, the beauty industries.
Starting point is 00:25:14 like don't age like before you look like this you can fix it so in your early 20s you're injecting your face with all kinds of bullshit you're getting things lifted you're injecting your ass now like it's you think you're being kind of brainwashed that that's what you have to do to not look like a disaster later if you do that in your 20s you're going to look like a wine cork when you're in your that's the problem well nobody realizes that they're f***ing their faces up too early and then it's going to go downhill yeah it doesn't age well i do know that in the states it feels like there's a very weird thing where parents give children like boob jobs so uncool as like a high school graduation or college graduation and but you know like
Starting point is 00:25:55 i don't know you love it i i did a small poll amongst men about a year ago regarding this whole boob job thing and i want you to hear this less than half of them like it yeah oh yeah it it And it's because it's great to look at, but if it becomes a relationship, you may not want that. And so for those ladies listening out there, think that through a lot. Au naturel is a very desired state for most men, the majority of them. Well, and now everybody is like doing things to look the same. So when you see somebody that actually looks different, it's like, oh, there actually is beauty in that where it doesn't look like every single Kardashian that you see. Yeah, I think the Kardashians have done a hell of a job building their brand and I respect it.
Starting point is 00:26:40 but I think they've gone into some pretty wild directions. But every time somebody says, well, they shouldn't do that, they're wrong in terms of how much momentum they get out of it. So they're just feeding on the market feedback they're getting. So I get that. I understand it. Crazy. I have a question for you.
Starting point is 00:26:55 Sure. Take me from the ice cream shop to like, why getting fired from the ice cream shop? Was that your big ass kicking to be a kicker? You know, look at it this way. The reason I took that job was because I was, you know, in high school and the girl I was interested in got a job at the shoe store across the mall. And so that ice cream. Always about a girl.
Starting point is 00:27:17 Always about a girl. And so I thought if I can go there after school and, you know, the mall shuts at 6 o'clock, you know, I can hit on her. Oh, wow. That's just the way it was. And that's how guys think at that age. I love it. And so the first day I show up, there she is in the shoe store, and the owner, a woman in the store, said to me, look, everybody's going to want to taste the ice cream, and you use these little wooden spoons.
Starting point is 00:27:39 But what she didn't tell me is everybody throws their gum out when they're tasting ice cream, and it falls on the floor right in front of where the ice cream is. So the other night she said, look, thanks, you did a great job today. Now here's a scraper. Get on your knees. Get the gum off the floor. And I saw the girl looking at me, and I thought, shit, if she sees me on my knees, this is really bad for my for your love my brand and so so i said to her look you hired me as a
Starting point is 00:28:04 scooper not a scraper and she said oh my god you're gonna do whatever i say you're an employee and i said i'm not scraping gum off the floor she fired me and that was my first day ever my first job ever and i didn't even know what it meant to be fired but it was very very humiliating because i went home told my mother what happened she said you got fired on your first day scooping ice scream. And so I realized that day something very important. There's two types of people in the world. There's the people that own the store and there's the people that scrape the shit off the floor. And you have to decide which one you are because one person controls their desk and the other doesn't. That was the last job I ever had. I never worked for anybody again. And I had summer
Starting point is 00:28:49 jobs and stuff between college, but that really taught me something. And years later, now I can afford to bulldoze the whole mall if i want and i thought let's take a camera crew back and thank her because i wish i could have met her again because she changed my life yeah and we looked hard for her and we couldn't find her but that was the defining moment when i talked to other entrepreneurs they tell me the same story there's this moment that that just changes your direction it's serendipitous you don't know it until you look back in time that was my moment and i owe her my whole life and and you know that's that's the way life is that's crazy and then what was the first business you either started or invested in i started one called special event television
Starting point is 00:29:31 which did all of the programming i was a film editor on a steenbeck which you women have never seen this is when you cut 16 mil film and i worked as an editor and then as a sound and then it was a cameraman so i formed this company called special by television with two other partners And we shot all of the intermissions for the Hockey League on the East Coast, for Boston, for Detroit, for Montreal, for Toronto. We'd shoot it during the week, and we'd send it up to the satellite for the intermissions on Saturday games. And we did Bobby Orr and the Hockey Legend and Don Cherry's Grapevine. And in those days, we invented those formats. And I didn't even know what a television format was.
Starting point is 00:30:06 Don Cherry's Grapevine turned out to be a huge hit. Don Cherry. Do you know who that is? He's like the most famous. He's like the most famous. Yeah. And he has the big collars, the hockey guy. that edwards still still on tv yeah but that that was a format that we owned and when it became a
Starting point is 00:30:19 huge hit on network television i got a phone call from a guy saying look we want to buy the format and i didn't even know what he was talking about and that was my first big win and the three of us took our winnings and i started soft key software products and after that it just kept going you need one to get going you need a deal you need the first one but that was just you know remarkable because now i understand television now you know why you want on the format i wish i owned shark tank format i don't sony owns that oh god you know it's that's how it works wow okay one of the questions we get so much and we have some business specialists come on in between our celebrities and bachelors on the latest um and one of the things we talk a lot about and even in our facebook
Starting point is 00:31:02 group girls going for job interviews that we're negotiating and the difference between negotiating like a man and a woman. And I know that's very plain because there's different levels of people. But I think that in general, women, we sort of apologize for taking up space and apologize for asking. I know that I'm about to go into a contract negotiation. I'm like, I'm just happy to have the job. I'll take whatever you give me. And I think men go into it differently. So could you explain how the women that listen, how we can negotiate our lives, whether it be work or whatever better well in negotiating what i've learned over many many years is you can't get everything you want ever and if you think you can you will never be successful a great a great
Starting point is 00:31:45 negotiation ends with you feeling you left something on the table and the other side feels the same way that's a great deal you have to give you know what i have learned though about television and hollywood and and the film business i always made the assumption i can negotiate my own deals And I've learned that's not true in Hollywood, and here's why. Here's a dirty little secret. When you're trying to cut a deal with a large network or streaming service or broadcaster, they have many different relationships with many different agencies and many different talent pools. You're asking for something that they don't want to give you. If you have an agent in the middle, and they are the single-cell amoeba of this business, I can't say enough bad things about them, but I'm so happy I have a good one.
Starting point is 00:32:30 And here's why. Because that person was able to trade on another situation to get me what I wanted. I never found out who got thrown under the bus. I don't care. But I certainly ended up with what I wanted. And I was told this, and I won't mention whose name it is, but he was running a main primetime network. He called me in his office in the third year of Shark Tank and said, look, Kevin, word on the street is you want to negotiate directly with me. And I said, yep, here we are together. We don't need all these agents. And he said, we don't want to do that. We're going to hate each other a lot when this is over. And I want to have a relationship with you that works. Let's put an agent in the middle.
Starting point is 00:33:11 You're going to have to pay him what you have to pay him. I'm going to bloody him up. We're going to hate each other because we already do. And that's okay. And we're going to keep our relationship pristine and virginal. I thought, that sounds insane. He was absolutely right. And that's why this whole industry, for those of you listening that want to be involved in the media, you will eventually need an agent because they are the buffer.
Starting point is 00:33:35 They are the cartilage. They are the lubrication. They are the person that negotiates on your behalf even though they don't really give a shit about you. They give a shit about the money you make, which is kind of an understanding and a relationship. But once you know that, it's very freeing. Like you don't care about me and my career. Yeah. Yeah.
Starting point is 00:33:53 I love that you mentioned the dirty dealings that happen. Very, very much so. It's so crazy. In television, like scripted TV, that happens a lot. Like if you're with an agency that another actor is with the agency and there's dealings with the network with the other actor, sometimes you get something because that other actor got thrown under the bus. When you get something, you should make the assumption someone else got thrown under the bus because that's what happens. It's crazy. And that is just the nature of how it works. Generally speaking, in television, there are three-year contract options. They're very nasty in terms of having to negotiate. They take a long time. I'm always in a negotiation summer because I do a lot of work in different places. But I've now learned to deal with this whole situation.
Starting point is 00:34:34 Even though it's not in my nature, I'd love to control my own destiny. Sometimes you can't. And that's why negotiating can be a team sport sometimes. Now, what about the everyday lady who is the gum scraper? Not everyone is a boss. Not everyone is in Hollywood having an agent. What about the ladies that are at a company and they're like, I'm due for a raise and I've done this and this and this and I see this person getting promoted
Starting point is 00:34:59 and I'm not you know like what what is the advice for well the biggest mistake people make as employees is not understanding the true nature of the relationship if you focus on the fact that you're there to help your boss be successful you will become successful because the way this works and I've taught my kids this and it's worked for them is think about your boss's challenge. What is their biggest problem and go solve it. You will become irreplaceable and then you will become the boss one day because the person above them knows how that happened and how it got done. That is the nature of moving up the corporate feeding chain whether it's a small business or you know a large one. It's understanding on a three-month basis what do I have to get done to make this boss
Starting point is 00:35:48 look better. I know that sounds intuitively like you don't want to do it, but it actually is how you move ahead and how you make more money. Because generally speaking, when you negotiate a raise, you want to try and get between 10 and 15 percent. And the only way you're going to get that is if you're in that top quartile of people fixing things for your boss, because they don't want to give up good people that help them. This works. It has worked for 100 years. It works now. When people only talk about themselves and how they don't like their environment and how they're not feeling good about their job, they're going to get whacked. They're going to lose their jobs. And I, you know, unfortunately I have to fire a lot of people and I tell
Starting point is 00:36:25 them why I do it sometimes. Listen, you're not a team player. You're not helping us get to where we have to go. And you're always whining. I can't wait to take you behind the barn and shoot you. Oh my God. You have no problem firing people. No, I don't. Not anymore. Because at the end of the day, what matters most is the business that's successful. You know, let's talk about your partnership here. Partnerships are very, very difficult to maintain over a long period of time there's internal jealousies there's performance aspects there's you know the facts and what i've learned in many partnerships
Starting point is 00:36:53 is you have to be open and honest with each other you have to call out bullshit when it happens you have to say look you're not pulling your weight or i didn't like what you did the other week or whatever those are the ones that tend to work but it's like being in a rock band so many of them break up at the peak of their earnings because their egos get in the way right and they screw themselves over it's really remarkable from that respect so i congratulate you you know anything that lasts more than 36 months is a real business wow and you're oh my god we're oh we did it high five guys it's true if you look in america 80 of businesses fail after 36 months because they're never able to gel clearly you have so congrats i think it's the canadian factor maybe it must be
Starting point is 00:37:33 the canadian well you know something to know about hollywood here we're sitting here in town in los Angeles. The music business, the film business, the television business, the production business, it's run by Canadians. It's true. You think about all David Foster and the music business, all these giants. They don't talk about it. Yeah, there you have it. There's so many
Starting point is 00:37:52 stars. The Weeknd, The Weeknd. Think about it. They're all Canadians. There's something about the ego in Canada. You guys have healthy egos, but you're not egomaniacs. When I go work and shoot a movie in Canada, the whole crew puts their nose to the grindstone they're happy to be there they're so thrilled and it's like
Starting point is 00:38:11 you come to la and everybody's entitled every american is well this is me generalizing i'm going to get destroyed on our facebook group but i notice a really big difference between canadian crews and american crews yeah we have it's like we're so offended to be asked to work hard we think we're entitled to that promotion without busting our asses and i think like kelty definitely brings that to the table for us we're very delicate production industry has really had a big boost in canada because the dollar is cheaper there's very talented people in vancouver and toronto locations are interesting lots of television being shot up there and it's a really healthy business what i think is really interesting that you just said um that i want to just talk
Starting point is 00:38:52 about a little bit more is i think sometimes women and i see it like in all our work and it's like you're you're such a nurturer that like you feel like your work life has to satisfy something that possibly a personal life should satisfy do you know what i mean because we're nurturers and we're like the relationships the relationship you know what i mean like i i feel like a lot of times like and we've had this with lady gang too it's like people are like i should feel like really good i don't ever feel good at work i feel constantly terrified and like i'm gonna fail and like oh you know what i mean i just i don't know that it just seems like there's a lot of people out there being like i just feel like my boss didn't say hi to me today
Starting point is 00:39:33 and i'm like so offended by that i'm like it's not your boss's job to come and coddle you at 9 a.m like am i wrong i can't decide if i'm a hard ass or like is that like a woman thing where it's like we're just more personal personable with each other and you're you're thinking that you should have those types of relationships like i'm just thinking of all those late escalating in questions we get that it's like i'm so unhappy at my office and i work so hard and i do so much and like no one notices me or like no one says thank you and i'm like i don't know that like is it part of a boss's job to walk around every morning be like thank you kevin o'leary for being here you're like i don't know i mean i know i could be nicer but like i don't know
Starting point is 00:40:11 what's the answer the answer is you shouldn't assume that your workplace should be the substitute for your real social life yeah and that is a big mistake people you know get involved in work and make it 90 of their lives that's a huge risk it's too concentrated your relationships have to go beyond your work day i mean people work you know more than eight hours a day now and they have time shifting everything else and they let their whole social life be around who those are they because they're working with them and they get involved in relationships at work which as you know these days are very risky yeah the amount of disasters occurring you know just by that alone has been horrific but you there's a great study that came out about happiness and i went to this to listen
Starting point is 00:40:56 to the man who did this out of harvard and it was a you know it was a rubber chicken dinner i thought it's gonna be really boring it was the most fascinating thing i've ever listened to because he did a multi-generational study about happiness about work about family about life and in the end happiness was defined by those people that had not achieved financial success it had nothing to do with happiness it was about relationships they had in their lives and it wasn't just at work relationships it was all the people that were in their lives that they enjoyed having with them ended up defining their lives and being happy and so that's really important because if all you do is spend your time worrying about money and you know pursuing your career you will end up a rich
Starting point is 00:41:39 unhappy person which is kind of counterproductive if you think about it what's the point of doing all that work if you end up alone and unhappy at the end it's sobering to think about that but everybody in that room was mesmerized by that presentation and they start thinking shit i better start doing other stuff are you saying i need a friend i was gonna say i think that kelty needs i was gonna say you're gonna have trouble filling that boat at the seychelles with all that money i know i'm going to the seychelles on a big vacation i'm very excited about yeah she has no friends to invite on the boat i couldn't afford a whole boat myself so i rented a cabin by the cabin and there's three other cabins to fill and where are my friends what are you doing
Starting point is 00:42:21 at christmas bro well you know that's expensive to do that so not everybody can afford it you know destination holidays and weddings are real pain in the ass for your friends because some of them just can't do it no don't do it um how do you juggle last thing before we get well actually i have one other thing too but um how do you juggle being i think you get this bad rap of like, you're Mr. Wonderful. You're so hard. I really appreciate that because I feel like I'm the same thing. How do you juggle being hard and like getting what you want, but also like not offending and pissing off everyone? Like obviously people still want to take meetings with you. You're not that much of a dick. No, no. You're actually like really pretty nice. We don't want
Starting point is 00:42:59 to like, we don't want to ruin your brand. I think people misinterpret telling the truth as being a and being mean it's important in business to tell the truth and and i feel that that i get a bad rap for that but i'm the only shark out there that says look that business is going to fail you're going to lose all your money no one's going to invest in it why don't you deal with reality now because it's going to come and bite you in the hiney anyways right and they say how can you say that you're so cruel why aren't you giving encouragement i don't want to encourage people to just wipe out their family net worth that's really stupid so we get into big fights about that on shark tank i don't give a shit it's still the truth i don't care if you i'm not trying to
Starting point is 00:43:36 make friends i'm trying to make people money and so at the end of the day that comes full 360 and people later when i run into them saying you know you were right it went to zero and i'm glad i listened to you and shut it down i have a new business i've started that kind of thing right i just think honesty is the best policy and that will shine through and if you always tell the truth you never have to remember what you said that's my mother talk well i was gonna say because Because you're a son and you're a father and you're a husband, so obviously there's parts of you that are soft and sweet and friendly. But that role, you know, it's working as a parent. That's a different gig, as you know, and that's important to be able to communicate.
Starting point is 00:44:14 I was just in an argument with my daughter on the way up here because, you know, she's appearing in a really interesting topic. She's wonderful. She's a producer now. She does a lot of work for very large agencies, and she's really good at what she does. And we were shooting a family thing for one of my shows, and it's got her surfing behind a boat. And she said, Dad, I don't like that cut. I don't like being shown that way. I'm a professional woman.
Starting point is 00:44:40 I don't want to be seen as a surfer dude. And I said, well, that's interesting. What do you want me to do? The show's locked. It'll cost a fortune to cut that out. She said, well, I'll be very unhappy if that airs. So now it's on me. What should I do?
Starting point is 00:44:53 you're there she's probably your age well she should should she suck it up and take one for the gipper or should i really go take it out of the production at a cost of thousands of dollars ask her to pay for it how much is it like it's is it like her ego and no i understand her thinking about it it's because you know she's gone um and she's been very successful in her career she's just got a huge promotion she's dealing with huge foundations now and that prop that image well shot a couple years ago and now making it to tape you know how these things yeah why is it um what like how my first thought is like get over yourself like nobody cares that much about you yeah because i think sometimes when you're not on tv and you're on tv for the first time or in tiny increments you
Starting point is 00:45:38 feel like everyone is gonna watch this is what they're gonna that's exactly my argument no one But she's throwing back in my face a very important concept that we should discuss here for a moment. When you lay stuff out on Instagram, when you put yourself out there in a drunken moment, it's forever. And then your career blossoms and all of a sudden you don't want that picture of you hanging from a tree with a lampshade on your head because that's not who you are today. And yet everybody looks at the digital image as if it's yesterday. And that is what I respect about her. That's why I'm going to go to bat for her because she worked very hard to keep that off digital. But for everybody listening, you've got to really think through what the hell you're posting because, you know, you're going to age and you're going to get into situations where that does not serve you well.
Starting point is 00:46:26 And, you know, that's a very important piece of the digital world we all live in. A lot of people don't get that joke, and they get hurt. They get hurt really bad. But then I have advice. Yeah. We get fucked over enough by strangers in this business. Your dad should always be able to take care of you. Wow.
Starting point is 00:46:44 Come on. Now you're making me feel heavy. That's what you got to do. I mean, we deal with so much bullshit. If your dad's for once the person that's deciding this for you and he can make you happy for a split second, you got to do it. Yeah. And that's what I'm going to probably do. I'm going to say, look, if I have to even pay to cut it out, I'll do it.
Starting point is 00:47:02 I mean, this is a network show. So you know what happens when you're locked and loaded. Nobody wants to go back and recut. I'll have to go into the studio and revoice it and all that stuff. But you're right. She's my daughter. I should take care of her. Don't do it for anyone else.
Starting point is 00:47:13 It's just your daughter. And for Lady Gang when we ask. And us. Can you delete this from the internet, please? All right. I feel like I'm already full of wisdom. But when we come back, Mr. Wonderful is going to fix your lives. Hey, ladies.
Starting point is 00:47:29 Funky. Ask the Lady Gang. And we're back. So the last part of our podcast, we have our listeners writing questions about life, love. We have some business questions in here and we try to give them advice. And we give bad advice. Yeah. Questionable.
Starting point is 00:47:43 Not bad. Usually it involves getting drunk. We'll see. Yeah. All right. But we trust you because you actually are a professional. Okay. Our first question says, hey, Lady Gang, I have a side freelance business alongside my
Starting point is 00:47:58 full-time job to fill my passion and to make some extra money. I work with a lot of great clients and some of those clients are friends. They all support my professional dreams and goals except for one. She will ask me for lower prices on my work, extend deadlines to pay invoices, and will push the limits on how I run my business. I've had numerous conversations explaining how my process works and what my terms are, but it seems like my worth doesn't really mean much to her. I know they say don't mix business and personal, but I'm trying to find a good balance to keep a good relationship on both ends. Any advice would be much appreciated. you have to separate business from friendship you have to you actually have to do that by the way
Starting point is 00:48:35 if you have a full-time job and you're running a separate business on the side two things really matter you have to be transparent about it you can't hide that from your employer and you have to ensure and this is critical when you're in your full-time job don't be doing your other business on your laptop that is going to get you fired i guarantee it because people know you're bullshitting them with your time and a lot of people make that huge mistake if you can keep those two things separate you're going to be okay and when people because you know when you're advertising or you're doing a commercial on a social media platform your boss is going to see that for sure and so they're going to know you're running something on the side and that's okay now regarding terms
Starting point is 00:49:14 when people try and use friendship to get a better deal than what your business can provide don't do it do not do it and the reason is is you'll be taken advantage of so much when you do that that you may go out of business because they're not paying you that whole you know message is about not being paid, basically. Right. Saying, I'm going to stay. I'm not going to pay you after 60 days. I'm going to pay after 90 days.
Starting point is 00:49:34 And six months later, you're still not paid. It's not worth it. It's better to actually find clients that are arm's length, that are willing to pay you for what you're good at and the service you provide. And don't get yourself involved in anything like that. But I'm more concerned about, really, that person's running something on the side.
Starting point is 00:49:51 I fire a lot of people in my businesses that are trying to work on something else while I'm paying them. nine to five what if i mean because it is hard to start a business while you don't have another job if you don't have a stack of money saved to start that business so do you have a problem with somebody starting that business if they are working not at all in fact there's been cases where i've actually invested in ideas of my employees and i'm understanding that we have a relationship they tell me they're going to work nine to five and then they're going to spend the
Starting point is 00:50:22 rest of their weekend and nights working on their business i'm cool with that i understand what entrepreneurship's about but it's when you cross the line or it's gray and you're not really working for me anymore and you're running your business while in my employment yeah that is going to end badly yeah i also think like it is such a hard thing when you're starting and even like with lady gang like when you're starting when we started the podcast and like every week we're like becca which one of your famous friends can you call to like get on the podcast and like you know there's just like a really even if you're the best friends in the world when you can profit off of your friendship, it starts getting weird. Yeah. No matter what. Yeah. The podcasting business
Starting point is 00:51:01 is about access to people. That's important. But on the other hand, it's also good to listen to others who are asking you questions and answer their questions as opposed to just relying on the next celeb that you're going to get on. You guys have known that already. You've got a successful podcast. So you have to have a balance of that. Yeah. When a friend feels that you're trying to take advantage of them and this has happened to me, I call it out. I remember I've got a very good friend of mine who called me up and said look you got to come and do a free presentation for xyz whatever and i just say look i can't do it because i'm you know i'm busy working on other stuff and kept begging me for it and i finally said okay you know what's the real deal
Starting point is 00:51:45 here what why are you doing this what is the reason and it turned out he'd already promised it without asking me oh god so so really putting himself in a horrible situation so you know that's that i don't appreciate and it won't happen again i know that but the whole point is you got to be honest that's my whole deal these days be transparent be honest don't bullshit people they're going to find out anyways it's so true okay we're pivoting topics because our next question comes from dad bod lover you know what a dad bod is right yes okay my boyfriend has always had a dad bod he's intelligent caring funny and the best man i know however since we met he has continuously gained more and more weight i don't want to sound superficial but at the same time it
Starting point is 00:52:33 has become an issue in our relationship our sex life has decreased i find myself less attracted to him he has less energy and most importantly it's affecting his health being in our 30s the body game is rough but i worry that if he doesn't develop a healthy lifestyle now it will only get worse as he gets older i've tried suggesting that we work out together do more active date nights or cook healthy meals at home versus going out but at the end of the day it's a lifestyle change and he will need to want to change for it to happen how can i encourage him to make better choices wow that's a tough one that's a tough one you know the trouble with withholding sex because that is what many people try and do is the guy's manipulation the guy is going to look
Starting point is 00:53:11 elsewhere and it's just going to happen it's a very bad outcome let's talk about the real issue at hand men in their 30s and it happens to women too the metabolism slows the same number of calories going in ends up in fat and generally it happens at about three pounds a year and that happened to me for a while oh god you start you know you start your 30s at one weight and then five years later you're up 15 pounds and it just crept up on you the the key to this for men is actually mostly booze because the amount of calories in wine or beer or just or liquor is is really expensive yeah and you know i got really heavy and my wife said to me look you know look at yourself in the mirror you got a huge pot it's really unattractive and i'm in perfect
Starting point is 00:53:57 shape she's she's a dancer and i work out every day and you don't and it's pissing me off it's got to change this is sort of a straight talk between you know husband wife and she said look you know i i don't want to walk around with a guy with a big gut it's just not good for me i don't like it it's bad and i'm not happy and all the issues around energy and everything else are all true what i found worked was a simple a small change in diet what does i want to you know talk to a few friends i just took carbs out of my diet after breakfast i don't eat carbs after because i I love carbs. I just had waffles this morning with berries.
Starting point is 00:54:35 I will not eat carbs the rest of the day. I lost 22 pounds. Oh, my gosh. And it happened slowly, but... Right, it stayed off. And I'm never hungry, you know. I had fish and a Greek salad last night, drank three glasses of wine, which I love.
Starting point is 00:54:52 And, you know, that to me, it's still, it's small adjustments that can, that guy could probably chow down pizza at night or eating too much pasta. you adjust your diet and boom it works it really works back to the honesty though i think i know it all comes down to honesty yeah she's got to say look honey you're a fat pig and and i'm just not happy and i don't want to live or you know sleep with a fat pig we got to change you yeah i think anytime you express that your level of attraction for that person is being affected and
Starting point is 00:55:22 it's something that they can change you're gonna want he's gonna want to do that yeah like my husband told me please stop getting botox on your upper lip it looks weird and i can't stop staring at it i liked it i completely stopped because i thought i'm doing all this to maintain myself so that i'm still attractive to my husband why would i very good move i gotta tell you that botox lip thing it doesn't work for everybody i can see a daffy duck a mile away it works for some women but not for all and what a a doctor told me which i'd never thought of and this is probably good advice for everybody listening when you make small alterations to your facial structure and they're not even the eye picks it up yeah and it amplifies it and and it really screws people up and they
Starting point is 00:56:07 look at you say what changed it can be a fraction of an inch yeah and a millimeter you're right and so often while plastic surgery doesn't work is after the healing there's a small micro adjustment and it's there's an imbalance and that's what that's why i'm i'm really against this chop up stuff the injection crap works for a lot of people but if you look like daffy duck it hasn't worked and if your husband doesn't dig it big mistake gotta stop yeah yeah good point message received message i feel like our third question should not be from a lady gang person it should be from the lady gang okay all right sure what's the question well what's our biggest i think how often do we have a professional okay investor business entrepreneur financier financier is that how
Starting point is 00:56:51 you say that i don't know no that's nope financier financier financier it sounds fancier canadian it sounds fashion yeah it sounds fashion okay well let's each ask one really quick oh shit okay um my question is can i ask a money question it could be yeah yeah yeah okay yeah my question is we need staff to grow um and we also spent the first three years of our business investing every penny we made back into our business yeah at what point are you like let's pay ourselves and like how do you decide at what point where you're going to profit and like how much money you put back into the business okay so here because you're in your fourth year what should be happening is you've built equity in this relationship and this brand and all the activities
Starting point is 00:57:43 you have in the contracts you're getting you should be trying to extract at least 10 percent of what you pay yourselves whatever you set as your salary you should be taking 10 percent of that and investing in something completely different than this business for diversification yeah because what happens in the entertainment industry is extremely volatile the outcomes are unknown all the time you don't know how long this is going to work for you should be trying to take out as much as you can to just put into the market, buy an ETF or a mutual fund, and that'll grow at about 7% a year in a completely different way than what you're doing is doing. And so that's the biggest mistake most people make is they don't diversify.
Starting point is 00:58:21 I started doing that 20 years ago and making sure that I have a portfolio of stuff that has nothing to do with what I do on TV, and it provides an income every month, and I live off that regardless of what I make doing this. but in terms of the business when you bring new people into it you should take a long time before you hire somebody it i always say hire very slowly fire very quickly yeah and because when you know it's not working you got to end it but you want the right person that can deal with all of you and your different personalities that understands the real mission of this business which is is trying to monetize your popularity in social media that's really what you're doing and you're
Starting point is 00:59:01 doing it successfully and you have a relationship with a larger broadcaster that makes sense but at the same time you don't want a lot of overhead i run a big business of lean and mean okay i mean that's you know o'leary ventures is become very large now with a lot of businesses but there's really only five core people and everybody else is a part-timer so i can really adjust that overhead i try and watch what i spend yeah that's what matters all right i have a question good advice um so with our brand we have all these different opportunities coming in do you think that there is it beneficial to saturate yourself as much as you can like we have our podcast twice a week we have the tv show we're writing a book we're going on tour we're doing
Starting point is 00:59:46 all these different things or do you think that there comes a point where there's like too much of putting yourself out there there used to be a theory about 10 years ago about overexposure And it was around when there were very few cable outlets successful. That's not the case today. There's no such thing as overexposure anymore. It's impossible. There's so much noise. There's so many people trying to do the same thing.
Starting point is 01:00:06 There's so many influencers out there. There's so many different channels. There's so much strata of demographic to deal with. And there's so many different cultural influences. What I found works, and it's sort of, it's really an interesting, there's a business you guys haven't tapped into yet. It's the speaking circuit. And, you know, most of us in Shark Tank now have a pretty big business with logistics involved in giving speaking tours. We enjoy the work.
Starting point is 01:00:33 It's extremely lucrative. It supports a whole new group of people that work with us. And it's like taking a brand on tour and having that intimate relationship with an audience of maybe 1,000 or 1,200 people in an auditorium. That comes, and the reason I bring that up, and the guy that taught me that was Tony Robbins. and i have a lot of respect for him because i know him and his people and i work with them now and i sometimes open for him he taught and the thing to understand about him that that is really the secret sauce all these things you're talking about the podcast and all the things you do you don't know with certainty which one is reaching the next incremental person that
Starting point is 01:01:11 follows you you have no idea the books and all that stuff you need to do them all because you don't know what's going to work yeah and then you every once in a while it's like whack-a-mole one of those raises itself up and that's where you make money for a while and then it dies down again then there's something else you're doing maybe a product you launch that people want to try that you're endorsing and all that you got to do it all and and tony's core thing is his message is very clear it's a focused message but he also understands that his brand is built around how he's reaching people i you know he's in all around the world i just saw him in dubai two weeks ago we did we did some stuff together there that was really amazing so he is the model that he broke the mold for
Starting point is 01:01:55 everybody in that business he's the highest paid speaker in the world more than the presidents more than all that stuff because he's so good at it nobody else can take a stage for three and a half hours like he can and keep everybody engaged everybody should go watch him and learn from how he presents himself as just a tool to understand how to present yourself so true the genius genius do you have anything back no i mean i was going to kind of ask about that diversifying like what we do um yeah but that's i mean yeah well i think you know you you're lucky you're still around after four years that's freaking incredible thank you so much we needed this pick me up we did yes think of all the burnouts that have happened you haven't blown
Starting point is 01:02:35 So, okay, first of all, well, last thing. Thank you for being here. Yes. And thank you for being on the TV show. We appreciate it so much. What do you want people, all of our girls, to go buy right now? Where do you need some help in your sales? Yeah, what's the hot product?
Starting point is 01:02:47 Tell us what you want us to buy. You know, probably what I'm most excited about, which is such an interesting product. I'm just launching it next week. The first padlock that you can open with a key or your fingerprint that's ever been made in the world. Really? Called Benji Lock. It's going to be everywhere. It will be Walmart, Target.
Starting point is 01:03:06 I need that. Yeah. And it's for lockers, gym bags, you know, purses. We make these locks for TSA, for luggage. It's simply a lock that you can just touch with your finger and it opens up. Cool. I can't believe that doesn't exist. You know, he comes on Shark Tank, this guy that actually had been fired from a real estate operation.
Starting point is 01:03:26 And he was gaining weight, so he was working out all the time. And he saw these people with big cutters snapping locks off gyms, gym, you know, lockers. He thought, there's got to be a way to solve that. Why isn't there a lock with a fingerprint? And he assumed that the lock companies had already patented that. They hadn't. Oh, my God. Damn.
Starting point is 01:03:43 You're going to be rich. He won the number one idea at CES worldwide two years in a row. Wow. Consumer Electronics Show. And then, of course, he came on Shark Tank. And I saw that deal. I went nuts. I said, that's for me.
Starting point is 01:03:53 Yeah. Like, I'm going to be his partner. I mean, everybody's going to buy it. I think that'll be my most successful company out of last year's deals for sure. Damn. Congratulations on all your success. Thank you for coming. Thank you.
Starting point is 01:04:03 And everyone can follow you. Well, you know, I'd love them to listen to my podcast, Ask Mr. Wonderful. And, of course, visit me at KevinO'Leary.com. Great. And your Instagram. Your Instagram? Oh, of course. Oh, yeah.
Starting point is 01:04:18 I follow you. Kevin O'Leary TV. That's good. Boom. Amazing. Okay. And we will see you next Tuesday. Thanks for listening.
Starting point is 01:04:26 The Lady Gang is produced by Alex Ingber, Will Sterling, Steve Delameter, and Jared Monaco. Make sure you subscribe, rate, and review our podcast. And if you love it, share it with your friends on social media. Like, oh my god, I just listened to Lady Gang. This episode's so great. It's why Bob to listen. And if you really want to, which we know you do, please follow us on social. At Kelty, at Becca, at Jack Vanek, and at the Lady Gang.
Starting point is 01:04:46 Sign up for our newsletter at theladygang.com and join our secret Facebook group. It's super fun. See you next Tuesday. Hi, I'm Barbara, aka your nursing educator on Instagram. i'm a registered nurse and i make content that's all about helping nursing students thrive one of the first and easiest things i tell nursing students if you haven't already done so upgrade your scrubs to figs out with these stiff boxy scrubs in with the ridiculously comfy well-designed figs that were specifically designed with us in mind they're super soft lightweight and breathable
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