"We let that go pretty quickly" - When Shark Tank's Robert Herjavec chimed on investors dealing with failed pitches

Shark Tank investor Robert Herjavec has built a remarkable career, rising from an immigrant background to become a successful entrepreneur with several thriving businesses under his belt.

Despite his success, Robert has openly admitted to making numerous mistakes and experiencing many failures along the way.

Reflecting on these challenges, he discussed the topic in a June 2, 2016, interview with Real Biz with Rebecca Jarvis, where he was asked if the sharks ever talked about failed business pitches among themselves after the show.

Robert initially sarcastically replied that the sharks are "very arrogant" and full of themselves so they don't dwell on failure that much and try to let that "pretty quickly."

"The Sharks are very arrogant and full of ourselves. So we really don't think of failure, we let that go pretty quickly," the Shark Tank star said.

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Shark Tank investor Robert Herjavec shares the advice he learned from Tony Robbins about failures

After joking that the sharks are full of themselves and don’t dwell on failure too much, Shark Tank star Robert Herjavec admitted that letting go of failures is "the hardest thing to learn in business."

Elaborating on his point, he noted that letting go of failures requires significant mental strength, as it is human nature to focus on past mistakes and dwell on them.

"Its that mental fortitude to let failure just go. You know, it's human nature to look at the things we did badly and dwell on them. It's like you're on Twitter and you get 1000 people to say nice things about you and one person says 'You s*ck'. What's the one you remember? The one person said 'You s*ck'. So it's the same way we've learned to let failure go," he said.

Rebecca agreed with Robert that letting go of failures is hard. Adding on this, she asked him what helped him with that problem given the fact that he has been a public figure.

In response, Robert went on to share the advice he learned from his friend Tony Robbins. He noted that when he was having the same discussion about failures with Tony, he told him that he does get hurt when he fails. However, he shared with Robert that he only gives himself three minutes to dwell when he is faced with his failures.

"I was at his house about a month ago, and we had this exact discussion. I said, 'How do you do that, Tony? How do you let failure go?' He said, 'I still feel like crap some days. I still feel like the world's against me. I still feel like I'm a failure some days. The biggest difference is; today I give myself 3 minutes. I dwell on it for three minutes and then I snap myself out of it and I say 'Nobody cares, stop complaining, move on,'" he shared.

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Robert chimes in on his motivation to work hard

Further in the interview, Robert was asked what keeps him motivated, besides his love for the business. He responded "Fear" keeps him motivated as he doesn't want to be a failure.

The Shark Tank star elaborated that his parent and a lot of other people have worked hard to give him this opportunity in life and he feels that if he doesn't make something of himself then he'd be letting them down.

"It's fear that honestly... every day I wake up and I think, 'Am I a little bit better than I was yesterday'. And I'm always afraid to look over my shoulder because I know the pack is catching up. You know, the bigger you are, the bigger the bullseye on your back. So you just, you gotta go really fast," the Shark Tank star concluded.

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Shark Tank season 16 episodes air every Friday on ABC.