When it comes to investing in new business opportunities, Shark Tank’s Kevin O’Leary believes it’s probably best to stick with companies run by women. If you’re looking to turn a profit, that is.
In fact, at a recent event, O’Leary told Business Insider that of the 27 companies he’s invested in, 55 percent of them have female CEOs, and every single one of his companies that are turning a profit happen to be run by female CEOs as well. “I don’t have a single company run by a man right now that’s outperformed the ones run by women,” he said.
When it comes to why these women-led companies might be pulling ahead of the male-led ones, even O’Leary would just have to make an educated guess. The companies themselves run the gamut from food to consumer goods to manufacturing, so the particular sector of business doesn’t seem to be the reason. The ability of a CEO to multitask, of the other hand, could have a big impact on young companies, according to the investor. “These are midrange companies in the sales range of five to 10 million dollars, so that multitasking could be very important,” O’Leary told Business Insider. “Large corporations are a different thing, but when you’re doing venture investing like I am, it’s startup to mid-level. They’ve got to work their tails off. They’ve got to work like hell.”
While the fact that half of the companies he’s invested in are run by women didn’t seem to be a guiding factor as to why he decided to invest in the first place (O’Leary says he strictly wants to make money, which means he’s always looking for the best deals — he never really pays attention to the gender of the person pitching the deal), one thing has become blatantly obvious to him through his experiences. “We should be elevating women to the CEO position because we’re getting better returns,” he told the site. “You don’t need another reason in business. In my case, the numbers speak for themselves.”
Interested in potentially launching your own company in the future? Start by building your own personal brand, and check out these five ways to prepare for self-employment. If you’re ready to jump in, learn what a Startup Accelerator is, and how joining one could help kick start your dream career.
Photo credit: abc