Robert Herjavec, best known for his role on Shark Tank and as a leading cybersecurity entrepreneur, didn’t follow a traditional path to business success. He had no formal training in business or accounting, and many doubted his ability to make it as an entrepreneur. Yet today, he boasts an estimated net worth of £232 million ($300 million).
Despite lacking an MBA or business degree, Herjavec proved that success is not about credentials but about action. In a recent YouTube clip, he shared a powerful lesson: most people fail to achieve success because they ‘spend too much time thinking’ about their plans ‘instead of doing it.’
‘You are never too young or old. You just got to do it, seize the moment right now,’ he said.
Herjavec practises what he preaches. At 26, he sold his first company for $300,000. By 36, he had built and sold his next venture for over £23.08 million ($30 million). He ran his first marathon at 45, wrote his first book at 50, and had twins at 56. Now at 62, he maintains a body fat percentage below 15%, claiming he is in better shape than he was at 30.
Why Passion Drives Success
For Herjavec, passion is the defining factor between those who thrive in business and those who fail. He believes that entrepreneurs who chase money rather than purpose are more likely to give up when challenges arise.
‘The biggest mistake I see people do is they start a business to make money,’ he said in an interview with Business News Daily. ‘The problem with that is on those cold days, money doesn’t keep you warm at night. For me, it is impossible to expend the effort required to start a great business because you want to make more money.’
Instead, he advises aspiring entrepreneurs to only start businesses they are ‘incredibly and deeply passionate about.’ Without that passion, he argues, it is nearly impossible to push through the inevitable struggles of running a company.
‘If you don’t absolutely love what you do, there is no way you will survive,’ he warned.
The Importance of Embracing Failure
Herjavec believes that success in business isn’t about avoiding failure—it’s about learning how to navigate and adapt to it.
‘People ask me if there is a quality or characteristic for entrepreneurs: Are they born or made?’ he said. ‘The one characteristic that I find in most people who start a business is they are very comfortable and adaptable to change. I always say my greatest skill is, if you throw me in the middle of the forest, I’ll figure out the game.’
Beyond adaptability, he emphasises the importance of expertise. Entrepreneurs, he says, should focus on mastering one field rather than constantly jumping between industries.
‘The other thing I notice is that lots of other entrepreneurs make the mistake of changing fields all the time and start businesses where their knowledge level isn’t very high,’ he noted. ‘I always say to my kids, become an expert at something, and become such an expert at it that you can walk into a room, and people will pay you for your knowledge.’
From Refugee to Business Mogul
Herjavec’s journey to success is rooted in resilience. Born in Croatia, he arrived in Halifax, Canada, at just eight years old with his parents, who fled a communist regime.
‘My dad escaped from jail in a communist country and grabbed my mom and me… We landed with literally one suitcase. My mom remembered she knew somebody in Toronto; we took a train there and lived in their basement for 18 months. It all started from there.’
His early struggles shaped his determination to succeed.
‘When I was younger, I didn’t know that people could start a business, and I always say now that if I knew what I know now, I would have dreamed bigger,’ he reflected.
Over the decades, Herjavec has built, led, and sold two major cybersecurity firms, cementing his reputation as a business leader. His story serves as a testament to the power of action, adaptability, and passion—proving that success is within reach for those willing to take the leap.
