Yahoo Finance Here’s How Kevin O’Leary Would Get Rich If He Had To Start From Scratch
If you had to start all over again in building your wealth, could you do it? Moreover, do you know how to become rich if there wasn’t an option to build your wealth the same way twice?
“Shark Tank” investor Kevin O’Leary has the answers to both of these questions. Here’s what Mr. Wonderful would do next if he had to rebuild his wealth from scratch.
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“Find a Problem and Solve It”
In an interview with CNBC Make It, O’Leary’s first move if he lost everything and was at square one all over again would be to think like an entrepreneur.
“I would find a problem everyone had and I’d solve it,” O’Leary said. “There’s always a problem that needs fixing.”
Where should one start a business? O’Leary, who said he gets this question all the time, recommends starting a business in India because the market has high-growth potential over the next 20 years.
Even if you’re running a business in the U.S., O’Leary said you’ll still want to be mindful of international markets from a domestic position.
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The Current Problem O’Leary Would Fix
Now that we know O’Leary would focus on finding a solution to a problem, which problem would he try to solve? His answer is a solution that ties in with healthy foods.
Over the past 30 years, healthy foods haven’t always been considered the best industry to get into if you wanted to make money.
However, this has been changing significantly due to what O’Leary calls a “myopic focus on health.” More Americans are living longer lifespans. As such, they’re investing more in their personal health and wellness across aspects ranging from being selective about the grocery stores they shop at to personalized exercise regimens to stay in shape.
Even pets want to be fed healthy foods — and their owners are prepared to pay up for it. This focus on healthy foods, O’Leary said, can only grow from here.
“People really care about what they eat,” O’Leary said. “I love this space.”
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This article originally appeared on GOBankingRates.com: Here’s How Kevin O’Leary Would Get Rich If He Had To Start From Scratch
