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Shark Tank star Robert Herjavec often shares his wisdom and experience with his followers on his social media accounts. In an Instagram video on December 10, 2024, he gave a small piece of advice to anyone planning to start a business.
Robert emphasized that before starting a business, one should consider the purpose behind it. According to Robert, wanting to "escape a bad boss" or not "wanting to work for someone else" are not good enough reasons to start a business. He said being honest about "why you're starting a business" is key to clarity in the future.
"Be honest with yourself, brutally, truthfully honest as to why you're starting a business," he said.
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In the video description, he explained the "right reasons " behind starting a business:
"Starting a business isn’t about escaping a bad boss— it’s about embracing responsibility. The right reasons to start a business come from passion, purpose, and the drive to build something meaningful—not just to avoid working for someone else. When you’re the one in charge, your customers, employees, and partners become your new ‘bosses,' and they’ll demand your time and focus around the clock."
Robert has appeared in the US and the Australian versions of Shark Tank. He has also been an investor in Dragon's Den, where aspiring entrepreneurs and small business owners pitch their products or ideas in hopes of signing a deal.
So far, Robert has assisted and guided many business owners. He is also a motivational speaker, founder of Herjavec Group, cyber security expert, and business expert.
Shark Tank star Robert shares how to run a successful business
Shark Tank investor Robert explained that there are two reasons to start a business, one good and the other bad. In the clip, he focused on people's major misconceptions about starting a business. Most consider business to be "your own boss" and "not working for someone else." However, Robert said this is not the right mindset or reason to become a business owner.
"So there's two buckets, one bucket is bad reasons to start a business, the other bucket is, good reasons to start a business. That's step one. So whats in the bad bucket? Here's the most common one that people tell me. I hate working for someone else, I wanna be my own boss. That is absolute crap."
The Shark Tank star emphasized that before starting a business, one should have clarity and figure out the right reason and purpose behind it. The mindset of "being your own boss" can lead to unrealistic expectations, as "customers" and "employees" become your boss and your priority.
Robert continued by stating that people have only one boss in a nine-to-five job. However, once someone starts their own business, they have multiple bosses and priorities.
"When you have your business, you have all kinds of bosses, your employees are your bosses, your customers are your bosses, And guess what, all those people who want you 24 hours a day. when you start your business you will never have less bosses than you do right now," the Shark Tank inverstor said.
All previous seasons of Shark Tank are available on ABC. Viewers can follow Robert on his official Instagram account to get more information and advice about starting as a new entrepreneur.
