Kevin O'Leary identifies key traits in successful entrepreneurs based on his experiences. He emphasizes the importance of a "founder's mindset," which focuses on prioritizing essential tasks while filtering out distractions. He believes only about 30% of people possess this ability, making it crucial to back them. O'Leary maintains an 80:20 focus ratio, akin to Steve Jobs, and seeks entrepreneurs who can consistently concentrate on their objectives to ensure success.
"The ability to see all the noise coming at you and filter it out, and focus on the three to five things you're going to get done, that's a remarkable attribute."
"You find that in 30% of the people. Then you want to back those people, because if they're not successful in their first mandate, they're going to figure it out."
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