"Can’t afford to just be good enough" - When Shark Tank's Robert Herjavec shared tips on avoiding mediocrity in business

In a LinkedIn post from August 15, 2018, Shark Tank investor Robert Herjavec shared that he doesn't like mediocrity or saying something was "good enough." For him, the best part of running a business is the satisfaction of putting in all his efforts and "continuously setting the bar higher." Once he achieves a certain goal, he makes sure to set even higher standards for himself so the people around him absorb motivation to do the same.

Robert further shared a quote that he learned from his fellow Shark Tank investor Mark Cuban, who said that an individual should work hard knowing that there is another person working 24 hours a day solely to beat and outperform them.

Agreeing with Mark's point, Robert noted that an individual always has a target on their back and "can't afford to just be good enough." So, to excel in business, he shared three tips that would help aspiring businessmen avoid mediocrity.

"You've got a target on your back and you can't afford to just be good enough," Robert wrote.

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Shark Tank investor Robert Herjavec's three tips to excel in business and avoid mediocrity

1) Focus on your customers

Shark Tank investor Robert Herjavec shared that the best way to ensure that entrepreneurs and their employees' efforts were fixated on the path of success was to focus on their customers' needs.

Emphasizing the importance of prioritizing customer needs, he noted that if an entrepreneur doesn't understand their customers, then they won't be able to make decisions that benefit their business.

"You don't want customers who think your product or service is average, you want them to be fanatical! Remember, the purpose of every business is to solve a problem your customers have," Robert continued.

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2) Murphy is always just down the hall

In his second point, Robert urged entrepreneurs to always be prepared for unexpected problems that could arise in their business. The Shark Tank star noted that an individual might execute and troubleshoot their business plans flawlessly, but it was rare that everything went as they had planned.

Robert advised entrepreneurs to be prepared for the "unexpected" and to anticipate Murphy's Law. According to him, the key to overcoming challenges is to remain adaptable.

"At Herjavec Group, we are constantly changing the way we solve complex problems. It's part of growing and scaling. You can't stay in the same spot all the time or continue offering the same service the same way. You also can't assume perfection. Be prepared for Murphy's Law and consider how you'll respond when you or your business go off course," he added.

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3) Know an opportunity when you see one

Robert noted that the world of entrepreneurship was filled with stories about people who passed on the opportunities that changed the world.

The Shark Tank star took the example of the executive who considered the idea of xerography dumb and the publishers who rejected and didn't believe in J.K. Rowling's manuscript for the first Harry Potter book. While he agreed that these might be some of the extreme examples, he emphasized the importance of grabbing opportunities as they are always right in front of everyone.

Robert advised entrepreneurs to always be on the lookout for real opportunities and quickly respond to those that show a lot of promise.

"Once you start settling for “good enough”, you're limiting yourself and everyone who works with you... Constantly challenge yourself to do better even when you, or others around you, think it's not possible. Remember the target's on your back and that mystery competitor out there has 24 hours each day to try to outdo you," the Shark Tank investor continued.

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New episodes of Shark Tank season 16 air every Friday on ABC.