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Cold Hard Truth: On Business, Money & Life

Kevin O'Leary

3.78 · Rating details · 1,023 ratings · 106 reviews

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 perse

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Hardcover, 256 pages

Published September 27th 2011 by Doubleday Canada

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Dec 27, 2011 Josephine rated it liked it

I’ve never watched Dragon’s Den,but I have heard Kevin O’Leary on John Tory’s talk show from time to time — and you know what? I can’t help but respect a guy who tells it as it is when it comes to business.

In his book, Cold Hard Truth, he writes about how, one of the hallmarks of being a great boss is to never consider your employees your friends — it just makes it tough to reprimand them or fire them.

I know I continually harp about this, but over the course of my career so far — and we’re wrapp ...more

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Nov 19, 2011 Jeffrey Sylvester rated it liked it

It didn't have a lot of substance but it was okay. Initially, I expected O'Leary to come from poverty and be entirely self-made which isn't the case. Although, it was interesting to trace through his entreprenurial tale. It evoked the business side of my youth, and marks the beginning of my own journey back from a stray into public service and academia. Plus, it gave some personal insight into a controversial Canadian figure I knew little about. It gave him a soft spot, which was cool and intrig ...more

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Jul 04, 2014 John Magdaraog rated it it was ok

Most of the given information on this book was based on making financial wise decision.
My main concern is it doesn't help you acquired assets. Instead, the book tells you to do is SAVE.SAVE & SAVE and live in a frugal lifestyle. All in all, it is simple to understand. ...more

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Feb 28, 2014 Hilary rated it liked it

Picking up this book is all the evidence I need that I enjoy Shark Tank more than I should. I’ve never read an investing or money-themed book before (sorry, Martin Amis), because I’m just not the target demographic (I imagine people who know about stocks and bonds and...whatever else people invest in don’t buy as much ramen as I do). I’m not really sure how much any book like this can offer - like any diet book, which has to spin “diet and exercise” into two hundred plus pages, most of the point Picking up this book is all the evidence I need that I enjoy Shark Tank more than I should. I’ve never read an investing or money-themed book before (sorry, Martin Amis), because I’m just not the target demographic (I imagine people who know about stocks and bonds and...whatever else people invest in don’t buy as much ramen as I do). I’m not really sure how much any book like this can offer - like any diet book, which has to spin “diet and exercise” into two hundred plus pages, most of the points here are as simple as “spend less and save more,” which isn’t terribly insightful. There were a few interesting points, like focusing on paying off debt over investing, and that renting can be better than buying a home, but most of these tips weren’t particularly applicable to me. After all, it’s a bit late for a prenup, and thanks to student loans, I won’t be worrying about a mortgage or home remodeling until there are flying cars and (hopefully wisecracking) robot manservants.

Still, this book has a good amount of possibly semi-intentional comedic value. It’s amusing to read the self-anointed Mr. Wonderful’s shameless self-promotion (there are two full-page ads for his companies at the end of the book, because 250 pages of his brilliance and tales of how he earned his money aren’t enough), his comically cold, robotic fixation on money (the book begins, “This book is the story of my money, and the personal journey I went on to make it”; he recommends that all couples sign a prenup or cohabitation agreement, because “[c]ontract talks are a fantastic vetting process”; he calls pets “an expensive story, with an expensive ending”), his failed attempts at humor (calling his imaginary wedding planning company “Love Don’t Cost a Dime, Inc.”), his strange reminiscences (“Going to the mall wasn’t a twice-weekly trip. It was saved for special occasions. Times are different now.”) and ridiculous phrases (“cars are here to stay”).

There’s also a strange blend of cheapness and complete Rich Guy out-of-touchness that’s pretty hilarious. In one section, O’Leary sets up several compound interest charts while decrying any expenditures us suckers make on off-the-rack magazines, alcohol or coffee, pointing out that a $6 per week coffee habit over 10 years costs $3,120, and instead, if that amount were invested with a 3% return, you could have $3,920 - an extra $800! That’s a lot of charts and hypotheticals to tell us that when you buy things, you longer have that money. Also, $3,000 for ten years of coffee sounds like a pretty amazing deal, though I appreciate that some billionaire is recommending I “[i]nvest in a thermos, a vinyl lunch bag, and a good coffee maker,” because the idea of a billionaire taking the time to pack his own lunch in one of his many homes before taking his private jet to work is great.

In other sections, O’Leary shows that, despite his familiarity with the concept of a “thermos,” he hasn’t interacted with an actual human being in decades, like when he demands that all couples get a prenup that will cost “anywhere between $5,000 and $25,000,” and he adds, “don’t forget vacation property, timeshares, and lake houses.” Remember, Kevin, we’re the people from a few chapters ago who apparently can’t afford our $6 per week coffee habit, much less our $10 per week magazine habit. Even though we’re now saving that cool $6k over the next decade thanks to your hot tip of not buying those things, we’re not exactly in the lake house market, unless it’s a copy of The Lake House on DVD, because everyone’s emotionally wealthy if they give two hours of their lives to a movie where Sandra Bullock and Keanu Reeves somehow interact through a mailbox that sends love letters through time. Since Mr. O’Leary spends a bunch of time bragging about “only” spending $10,000 on your wedding and honeymoon, where does he get off advising people to spend up to two and a half times that on the prenup? What partner is going to be excited about marrying someone who places an equal or greater value on the financial fallout from the end of a marriage that hasn’t happened yet than on the ceremony that is the beginning of that marriage?

The possibly semi-intentional comedy (chastising people who gave a friend of his their used baby stuff because it was high quality and they “might have made a buck on the resale,” complaining about the expense of his lake house and Porsche - though they’re okay because those are “indulgences,” not “investments”) made this more fun than I would have thought, but still not something I’d recommend.
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Jun 17, 2018 Tosin Omotoyinbo rated it it was amazing

Mr. Wonderful is such an interesting character. His simple no-BS approach to business and ultimately making money in general is so interesting, coupled with his sense of humor and wit, fully expressed in the book, you could almost hear him affirming the cold hard truth of business wisdom into your ears, with the aim of preventing you from disrespecting money, this the best time investment I've made in any book this year. ...more

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Sep 20, 2011 Sue rated it it was amazing

Shelves: business-memoir

Kevin O’Leary "Cold Hard Truth" shares invaluable secrets on entrepreneurship, business, money and life.It is not easy to review this book and do it the kind of justice it deserves.This is the story of the memoire of Kevin O'Leary's journey, the path that he followed, the lessons that he learned, the discipline that he adhered to be a successful entrepreneur and amass wealth.He told us that you have to work for it. But the good news is: with the right guidance, focus and perseverance, you can tu ...more

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Dec 04, 2013 Timothy Elliott rated it liked it

What a jerk!!! Ha, just kidding. For anyone who's watched Dragon's Den or Shark Tank has seen "Mr. Wonderful" be a jerk to people pitching their ideas. After watching Shark Tank now for a couple of seasons I've got to say that Kevin O'Leary does start to grow on you, particularly when even I can see the that someone has brought in a dog of an idea. So after reading his book I now understand why he comes off as an asshole to some. Simple put, he tells it like it is. Actually, I don't think he's a ...more

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Apr 22, 2012 Karolina rated it did not like it

I picked this book up because, at the time, I was really into Dragon's Den, I actually like Kevin, and because someone in the family bought it. For a book with such a bold title, it really didn't say much. It read very much like a dictated autobiography clearly ghost-written by someone else and lightly edited.

It's very vague when it comes to talking about what exactly Kevin did while building his first business, and attributes much of it to his character. That is fair, however that makes the bo ...more

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Jul 29, 2012 Richard Podsada rated it really liked it

I was interested in reading Kevin's book simply because he's such an interesting character. His seemingly single-minded focus on money seems so far removed from what most normal people experience. It's interesting to dive into his head and see how he thinks. But like most people, Kevin's an onion with many layers. You can see he is quite artistic and even has a soft side (which he seldom reveals in his public appearances.)

This is a great book to learn about Kevin's life story and pick up a few ...more

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Sep 21, 2011 Laurie rated it really liked it

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 c ...more

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May 29, 2012 Leah rated it really liked it

Shelves: own-the-book

Kevin is actually a pretty cool guy, he seems so harsh and cold on tv but reading his words changed my opinion of him. He's so driven and ambitious it's infectious. It was interesting to see where he's come from and his background. He has a lot of set values that I admire and he inspires me.

Notes:
- what every you focus on grows
- even though money does't care about me or you, to make money requires us to care deeply about it
- spend the interest - never the principal
- assholes get rich because th ...more

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Apr 20, 2015 Willi Braun rated it it was amazing · review of another edition

What a great book. Learned so much from it and couldn't stop reading until I finished. I can recommend that book to everyone who is open to learn about business from people who actually made it. Kevon O'Leary is one of them. I enjoyed the Shark Tank a lot and now, thanks to this book, I can understand his devisions on that show even more. ...more

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Nov 07, 2019 FAIZAN KHAN rated it it was amazing

Shelves: sharks

This Book Isn't For The Timid,
Contains A Lots of Facts That Might Be Difficult For Some To Swallow.
I'd Rather Suggest, A Fictional Noval...

But If You Can handle The Truth, Honestly & Appreciate Mr. Wonderful's Thought Process You'd Really Enjoy This One.

Must Read! No, Dont Read... Study It!
100 % Worth Your time, ...more

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Aug 01, 2013 Kendra Kleiner rated it liked it

Shelves: non-fiction

Five Reasons I Love Kevin O'Leary

1) He doesn't have a ghost writer.
2) He gives very sound advice.
3) He's proud of his accomplishments and failures.
4) He's "mean" for kind reasons.
5) He's never boring. ...more

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Jun 28, 2016 Pulak Mehta rated it really liked it

Any shark tan fan would love this book.(Shark tank is an American business reality TV show)
The books details his key turning moments that made him successfully. Written in a blunt fashion, any shark tank fan can relate with the book.

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Sep 02, 2017 Justin rated it liked it

Shelves: biography

He is a great storyteller that doesn't hold anything back. What I mean by that is it feels like he is sitting in front of you telling his life story. As he is retelling his life, he talks about the lessons he learned at every moment in his life and how it helped him later on. Although he lets you in on some cool tricks, such as investing in things that pay yields, his book is more for entertainment than practical advice ...more

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Jan 11, 2021 Michael rated it it was amazing

Solid. As an entrepreneur and investor, I really appreciate every page. I really think this was well written and well done. I appreciate his no-nonsense talk. And his solid money management rules.

It's also a delightful story because much of his success in money management and investing comes from his mother. Which is endearing and also beautiful. I'm really glad I got this and read it. Insightful and inspiring ...more

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Nov 12, 2020 Mark Donovan rated it liked it

An interesting life story with many life lessons. I know he worked hard and made some great deals, but I'm left wondering how much of his success was luck. Meaning there are lots of other talented hard working business geniuses who never make it by happenstance. Lots of great insights, but some of the axioms need to be taken with a grain of salt. ...more

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Jun 01, 2019 Loveteiab rated it really liked it

This book allowed me to understand why Kevin act like a jerk on Shark Tank. I respect him a little more although still not the behavior but it’s good for tv ratings. It was motivating to read however. Recommended if you’re into biography style tip books.

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Feb 03, 2018 Keith Gandy rated it liked it

Mainly his biography and storyline of steps in reaching Fame on Shark Tank. Quite a shrewd investor.

Mildly entertaining.

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Mar 07, 2018 Chanel rated it it was amazing

It was real, funny, practical & honest! It was really enjoyable:)

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May 31, 2018 Sikandar Khan rated it really liked it

The best thing I learnt from this book is that do what you're good at as that is the only choice you have in order to succeed. ...more

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Dec 19, 2018 Bill Zawrotny rated it liked it

By far my favorite shark on Shark Tank and, as expected, had a good story to tell and a lot of interesting insights...but the writing just didn't grab me. ...more

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Apr 30, 2019 Raitis rated it really liked it

bit hard to get into it, but later chapters are pure gold

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Oct 17, 2019 Jose Arturo rated it it was amazing

Directly to the brain ! First non-BS book about real world advises

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Jan 02, 2020 Shahrukh Maniyar rated it really liked it

Filled with typical O'Leary humor and million dollar tips about business investment partnership life etc...do not take it as a financial literacy book it is much more than that ...more

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Mar 28, 2020 Jennifer Sims rated it really liked it

Telling it like it is even in his bio. Enjoyed learning about where he came from.

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May 15, 2020 مساعد الشطي rated it it was amazing

I don't just love to read Mr.Wonderful's books—I also love to reread them ...more

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Jun 18, 2020 Al Kruzins rated it really liked it

Easy read
Nice to have photos
Interesting life

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Jun 30, 2020 Miguel Roy rated it it was amazing

This review has been hidden because it contains spoilers. To view it, click here.

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About Kevin O'Leary

Kevin O'Leary

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Librarian Note: There is more than one author by this name on the goodreads data base.

Humble Beginnings
Kevin O’Leary was born to a middle class family in 1954. The combination of Kevin’s mother’s family heritage as merchants and his father’s Irish charisma truly meant that O’Leary was born for business. Kevin learned most of his business intuition from his mother. She taught him key business and f Librarian Note: There is more than one author by this name on the goodreads data base.

Humble Beginnings
Kevin O’Leary was born to a middle class family in 1954. The combination of Kevin’s mother’s family heritage as merchants and his father’s Irish charisma truly meant that O’Leary was born for business. Kevin learned most of his business intuition from his mother. She taught him key business and financial insights from an early age. These became Kevin’s core philosophies, and the pillars upon which he would one day build his empire.

The Turning Point
Kevin’s approach to business went through major changes as a teenager. During his second day on the job at a local ice cream shop, his boss came into the front of the store where Kevin was scooping ice cream. She looked at Kevin and asked him to perform a task that he wasn’t expecting. What happened next had a profound effect on Kevin – one that stayed with him for the rest of his life.

Foundations of an Empire
As a university student, Kevin’s innate business sense led him along several different paths – including some very unusual, very entrepreneurial ways of making a profit.
Not long after he finished his MBA, Kevin had a meeting that changed his life forever. He met a man who had a strange idea for a software product – an idea with huge, high-profit potential that Kevin immediately recognized.
After years of ups, downs, sacrifices, challenges, and lessons learned — not to mention a critical phone call that nearly cost him everything — the opportunity that Kevin saw eventually turned into a computer software giant that was acquired for more than $4 billion dollars.

Investor Extraordinaire
After his extraordinary success at the software company he founded – and a difficult period of obstacles and legal disputes – Kevin eventually found himself on television, quickly becoming a sought-after host and personality on a range of shows – including Discovery’s Project Earth, CBC’s Dragons’ Den, and ABC’s Shark Tank.
Kevin has since launched O’Leary Funds, an investment fund company; O’Leary Fine Wines; and a best-selling book series on financial literacy.
In 2014, Kevin founded O’Leary Financial Group – a group of brands and services that share Kevin’s guiding principles of honesty, directness, convenience, and above all, great value. ...more