Kevin O'Leary of "Shark Tank" delivered a keynote speech in front of around 1,200 entrepreneurs during the recent Innovation IT Conference & Expo held at Marlins Park by Miami-based TigerDirect, Miami Herald reported.

O'Leary emphasized that "customer service is the whole deal" in his speech.

"The customer always comes first and service always trumps price. If your customers are very happy with their service, you can raise your prices 15 per cent without losing them. I've done this time after time," he explained.