"I think in terms of potential" — Shark Tank mentor Robert Herjavec on why success isn't defined by material wealth

Shark Tank mentor and entrepreneur Robert Herjavec appeared on a recent episode of The School of Greatness podcast with Lewis Howes, which aired on February 5, 2025. He discussed his thoughts on success, personal fulfillment, and the mindset that fuels long-term progress.

During the discussion, Herjavec discussed his early career goals and the common notion that success is dependent on material wealth. He described how he used to feel that acquiring a larger house, a luxury car, or even a private plane would mean he had "made it." However, as he bought these items, he found that they did not bring the satisfaction he sought.

Herjavec talked about how his view on success has shifted over time, leading to his statement:

"I think in terms of potential. When I think I haven’t made it, I don’t think about wealth or possessions."

He added:

"I think about whether I’ve reached my full capabilities. There is no car, no jet, and no home that will fulfill me, only the feeling that I’ve done everything I could with my potential."

---

Shark Tank mentor's perspective on success beyond material wealth

During the conversation, Shark Tank star Herjavec discussed how many people equate success with material wealth. He shared his own experience of selling a company and immediately upgrading to a larger private jet, believing that this would be a defining moment of success. However, he quickly realized that the cycle of wanting more never truly ends.

"You think, if I had a bigger house, I made it. Then you get a bigger house, and you think, what if I had a jet?" Herjavec reflected.

He added:

"There is always a next step, but it never really ends. The key is to focus on what actually fulfills you."

Instead, he stated that fulfillment comes from striving to maximize personal potential rather than accumulating possessions. According to Herjavec, there is no specific purchase or financial achievement that can bring a sense of "having made it." Instead, he believes that true success is found in an ongoing process of self-improvement and making the best of one's ability.

"I want to feel like when I’m on my deathbed, I can say I couldn’t have done more," he stated.

He pointed out that each person’s definition of fulfillment is different, but for him, it focuses on setting new goals and pushing himself to do better in all parts of life.

---

Lessons from the Shark Tank mentor and the role of discipline

Shark Tank star Herjavec also shared insights from his experiences interacting with highly successful individuals, particularly billionaires. He highlighted three key traits that many of them possess: deep expertise in a specific area, a lot of curiosity, and a strong sense of discipline.

"Number one knee-jerk is absolute obstinate obsession about their skill set, not about the world in general but about that one thing," Herjavec stated.

He added:

"I don’t know a single billionaire that isn’t a world-class expert at a very narrow singular task."

He noted that most billionaires are highly focused on their specific skill set rather than trying to know everything. Additionally, they display a deep sense of curiosity, constantly seeking to learn and understand more about their industries and beyond.

"It’s hard to be abundant if you’re not curious. People of great wealth tend to be problem solvers, and they like challenges," he explained.

Discipline, according to Herjavec, plays a crucial role in success but varies based on individual priorities.

---

Shark Tank episodes air every Friday on ABC.