"I’ve made every mistake in the book" — When Shark Tank star Robert Herjavec commented on the importance of failure

Shark Tank investor Robert Herjavec once stated that failure isn't as bad as people often perceive it to be. In a LinkedIn post from August 23, 2017, Robert Herjavec commented on the importance of failure, noting that it helps people to recognize their mistakes and show them how to improve, ultimately leading to greater success.

Herjavec believes that failures should be seen as learning opportunities that could catapult them into their success. He admitted to making several mistakes and experiencing setbacks on his journey. However, he emphasized the importance of not repeating the same mistake twice.

"Failure is as a lesson that should catapult you into success – and I am certain that I wouldn’t be where I am today without failure. I talk a lot about how I’ve excelled in business because I’ve made every mistake in the book. But never twice," the Shark Tank investor wrote.

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Shark Tank investor Robert Herjavec suggests using failures as a means to success

In a LinkedIn post, Shark Tank star Robert Herjavec shared his thoughts on the word "failure," comparing it to "sales" as a term that often carries a negative reputation. He emphasized that failure wasn't necessarily a bad thing, as everyone encounters the fear of failure at some point in life.

Robert added that if a person doesn't take risks and step into the unknown, they’ll never truly know whether they could succeed.

The Shark Tank investor noted that understanding failure is necessary for measuring success. He believes failures serve as lessons that help individuals catapult themselves toward their goals.

The Herjavec Group founder further emphasized the role of failure in his life, stating that he wouldn't have reached his current level of success without experiencing setbacks and mistakes along the way.

"I teach my team – deal with your failure in two steps: 1 – Understand why you failed and what you learned. 2 – Get over it!" the Shark Tank star added.

Robert explained that failures often occur when people stretch themselves beyond their limits. He believes that this might happen if people have a lot in their place, or they might be just focusing on the end goal without thinking much about what it would take for them to achieve their goal flawlessly.

The Shark Tank star added that in these cases, failure would have one of the two effects on an individual. It would either force that person to "cower into a safe place" where comfort was given more priority than achievement, or it would stretch the limits of their ambitions.

Robert admitted that not every endeavor or business would turn out to be successful. He emphasized that winning and losing are part of the process and that unexpected setbacks can occur at any time without a warning.

"So what happens when you don’t succeed? Do you sink as low with failure as you fly high with success? Not really. And if you do, we have to understand why." he added.

Robert further shared that he doesn't consider life to be a game where each loss in the journey subtracted any already earned achievement. Rather, he sees failure as a useful thing that helps a person to see how they can improve from before and work towards achieving "more and better victories in the future."

"Everyone fails – we just can’t afford to dwell on it. All we can do is identify where and how we failed, choose the best way to avoid repeating it, then move on. All failures carry lessons with them so what have you learned from yours?" the Shark Tank star concluded.

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