Kevin O'Leary Quote

“All businesses require capital, management and labor, and business executives, wanting to grow and maintain profitable enterprises, have a strong incentive to keep costs, including labor, as low as possible.”

~ Kevin O'Leary

Ratings and Comments

Mike, Norwalk

Depending on the definition of capital - OK. The first business I started, I did so from a supplier of goods giving me credit and I went door to door selling. That worked sufficiently well until there were enough frns to hire more people. I paid labor as much as the business could bear (way above prevailing wage) so that I might attract the best and most loyal. I started manufacturing my own. My niche was - I only sold the best in the industry and the costs were always the highest. With any product there is a price too high, I don't think I ever got near that threshold.

cal, lewisville, tx

Applying for a job many years ago the interviewer simply implied that they wanted the best qualified at the very least cost or wages. I moved on.

Mick, Manchester

Sounds like Mike appreciates the interdependence between workforce and entrepreneur which should be for mutual benefit and not the exploitative relationships O'Leary describes.

E Archer, NYC

Absolutely. Supply and demand. Competition challenges producers to be innovative. I want the best labor for the lowest cost, but I have to chose from what the market delivers, and weigh the costs with the value of the services rendered. My own labor is very expensive because the results have high value -- for the most part, the value of my services/products to the buyers is higher than the labor cost. I am able to charge high prices because the quality and value is equivalent or higher than their cost.


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