From a young age, Robert Herjavec has embodied the spirit of entrepreneurship, shaping his life journey from an immigrant to a multi-millionaire entrepreneur and television personality.
Arriving in Canada at the age of 8 with his parents and just $20 to their name, he has come a long way, building a successful business career and becoming a prominent investor on ABC’s hit show Shark Tank since 2009.
His journey is a testament to the American dream, inspiring aspiring business leaders worldwide. With his business acumen and strategic investments, he has become a household name in the world of entrepreneurship.
Key Takeaways
- Robert Herjavec’s journey from immigrant to multi-millionaire entrepreneur and television personality.
- His role as a prominent investor on ABC’s hit show Shark Tank since 2009.
- The growth of his cybersecurity company, The Herjavec Group, from a small startup to a global enterprise.
- His business philosophy and the lessons we can learn from his approach to entrepreneurship.
- Herjavec’s humble beginnings and his rise to success.
Early Life and Immigration Journey
As an immigrant who arrived in Canada with no English, Robert Herjavec’s early life was a true test of adaptability and perseverance. His family moved from Yugoslavia to Canada, marking a significant shift in his life and shaping his future as a renowned entrepreneur and investor.
From Yugoslavia to Canada
Robert Herjavec’s family immigrated to Canada from Yugoslavia, a move that brought significant challenges, particularly for young Robert, who had to adapt to a new country and language. His father secured a job in a factory in Mississauga, earning $76 per week, a modest income that underscored the family’s financial struggles. This transition was not just a change of place but a significant cultural and economic shift.
Struggles and Adaptation
The language barrier was a substantial challenge for Robert, who had to quickly adapt to an English-speaking environment while navigating the social dynamics of being an immigrant child. His father’s frugality and resilience had a lasting impact on Robert, teaching him the value of hard work and the importance of never complaining about challenges. Robert’s father would walk to work to save on bus fare, a lesson in frugality that made a lasting impression on him.
A pivotal moment in Herjavec’s childhood occurred when he complained to his mother about being made fun of by his classmates. His father instructed him never to complain, a principle that became foundational to his approach to life’s challenges. This, along with other formative experiences, such as witnessing his mother being taken advantage of by a traveling salesman, shaped Herjavec’s resilience and determination. These early struggles taught him to view obstacles as opportunities and to maintain a positive outlook even in difficult circumstances, laying the groundwork for his future success in business.
Educational Background and Early Career
Robert Herjavec’s journey to becoming a successful entrepreneur and investor began with his educational background and early career experiences. After immigrating to Canada, he pursued higher education, which was a crucial step in his career development.
University Education
Robert Herjavec attended the University of Toronto, where he gained a solid foundation in business and economics. His university education provided him with the theoretical knowledge that he later applied in his professional life. During his time at university, Herjavec developed a keen interest in business and entrepreneurship, which laid the groundwork for his future endeavors.
First Jobs and Film Industry Experience
After university, Herjavec initially pursued a career in the film industry, working as a third assistant director on productions like “Cain and Abel” and “The Return of Billy Jack.” He also served as a field producer for Global TV’s coverage of the 1984 Winter Olympics in Sarajevo. Between film productions, Herjavec applied for a job at Logiquest, selling IBM mainframe emulation boards, despite having no qualifications for the role. He convinced the company to hire him by offering to work for free for six months, while waiting tables to pay his rent. This determination paid off as Herjavec quickly learned the technology business and rose through the ranks to become General Manager of Logiquest.
Herjavec’s experience in the film industry, combined with his entry into technology sales, gave him a unique perspective that would later help him identify unconventional business opportunities and talent on Shark Tank. His early career experiences were instrumental in shaping his entrepreneurial mindset and skills, which he later applied to his own company.
| Company | Role | Time |
|---|---|---|
| Logiquest | General Manager | After initial role |
| Global TV | Field Producer | 1984 Winter Olympics |
| Cain and Abel/ The Return of Billy Jack | Third Assistant Director | Mid-1980s |
Rise as an Entrepreneur
With a background in sales and a stint as a stay-at-home dad, Robert Herjavec launched into entrepreneurship in 2003, founding The Herjavec Group. This marked a significant turning point in his career, transitioning from a corporate role to leading his own company.
BRAK Systems: The First Major Success
Before founding The Herjavec Group, Herjavec experienced his first major success with BRAK Systems, a company that laid the groundwork for his future endeavors in the technology sector. Initially, he faced challenges, but his business acumen and ability to adapt helped him navigate the competitive landscape.
- BRAK Systems was Herjavec’s first significant venture into entrepreneurship, showcasing his ability to establish a successful company.
- The experience and insights gained from BRAK Systems were instrumental in shaping his future ventures, particularly in the cybersecurity domain.
The Herjavec Group: Building a Cybersecurity Empire
Founded in 2003, The Herjavec Group quickly evolved into a leading cybersecurity solutions provider. Initially, the company started with just three employees and $400,000 in sales, a figure far below Herjavec’s initial target of $5 million. However, through strategic partnerships with emerging cybersecurity technology providers from Silicon Valley and the introduction of innovative products, The Herjavec Group began to gain traction in the competitive security space.
- The company expanded through acquisitions across Canada, the United States, and the United Kingdom, establishing itself as a leader in the rapidly growing cybersecurity industry.
- Under Herjavec’s leadership as CEO, The Herjavec Group grew to become Canada’s largest information technology security provider, with over 300 employees and annual revenue exceeding $200 million.
- The Herjavec Group was recognized as the #1 company on the Cybersecurity500 ranking of the world’s hottest and most innovative cybersecurity companies.
Herjavec’s success with The Herjavec Group is a testament to his entrepreneurial spirit and ability to lead a company to significant heights in a competitive industry. As CEO and a major stakeholder, Herjavec continued to drive the company’s mission to provide top-notch security solutions, even after Apax Partners acquired a majority stake in 2021.
Robert Herjavec – Entrepreneur & Shark Tank Investor
Robert Herjavec’s journey as an entrepreneur and investor has been significantly influenced by his experiences on Shark Tank, where he has invested in numerous promising startups. His participation in the show has not only provided him with opportunities to identify and invest in potentially successful business ventures but also to share his entrepreneurial insights with a wide audience.
Joining Dragons’ Den and Shark Tank
Before joining Shark Tank, Herjavec was a part of the Canadian reality television series Dragons’ Den. His experience on Dragons’ Den laid the groundwork for his role on Shark Tank, where he has become known for his investment strategies and business acumen. Herjavec’s transition to Shark Tank marked a significant milestone in his career as an investor, allowing him to evaluate and invest in a diverse range of startups and entrepreneurs.
Notable Investments and Success Stories
Throughout his tenure on Shark Tank, Herjavec has made several notable investments, with one of his most successful being a $100,000 investment in Tipsy Elves, a company known for its festive and humorous apparel. This investment has yielded significant returns, with Tipsy Elves growing into a multi-million dollar business. Another successful investment is Aura Bora, an herbal sparkling water company that has gained substantial market traction since its appearance on the show. Herjavec’s ability to identify successful companies and guide entrepreneurs towards success has been a hallmark of his investment strategy on Shark Tank, and has earned him a reputation as a savvy investor who is willing to invest both money and time in the start-ups he believes in.
Business Philosophy and Leadership Style
Robert Herjavec’s business philosophy is deeply rooted in his immigrant experience and work ethic. His journey to success is a testament to the impact of a strong work ethic and a realistic approach to entrepreneurship.
The Immigrant Mindset and Work Ethic
Herjavec’s immigrant background has significantly influenced his approach to business. He emphasizes the importance of being realistic about one’s situation and leveraging human capital to start a business. “You’ve got to be realistic about your situation. I think the biggest lies in life we tell are the ones we tell ourselves,” he notes. This mindset has been crucial in his success as an entrepreneur and investor.
He believes that the best capital to start a business is one’s own human capital, highlighting the importance of skills and experience in achieving success in business.
Advice for Aspiring Entrepreneurs
Herjavec offers several pieces of advice for aspiring entrepreneurs. First, he advises being brutally honest with oneself about one’s situation and capabilities. He also emphasizes the importance of taking calculated risks from a position of vulnerability, stating, “You can’t become an entrepreneur from a position of safety. You don’t start a business to be safe – it’s risky by nature.”
Additionally, he advises entrepreneurs to focus on solving real problems and adding value, rather than chasing trends. “People don’t care about your color, religion, or sex. They care about the value you add,” he says. This advice is grounded in his own experiences, including starting BRAK Systems after being fired, which taught him the value of viewing setbacks as opportunities to start business with a new perspective.
| Key Advice | Implication |
|---|---|
| Be realistic about your situation | Leverage your human capital effectively |
| Take calculated risks | Be prepared for the challenges of entrepreneurship |
| Focus on adding value | Solve real problems for your customers |
Personal Life Beyond Business
Robert Herjavec’s life beyond the corporate world is a reflection of his diverse interests and passions. While he is known for his entrepreneurial ventures and investments, his personal life reveals a more nuanced side of his character.
Family and Relationships
Robert Herjavec values his family and relationships, which play a significant role in his personal life. He has been married to Karmila Minulovic since 2016, and together they share a loving home in Los Angeles. His family life is filled with love, care, and a deep commitment to making time for the things that truly matter.
Hobbies and Philanthropic Efforts
Outside of his business endeavors, Robert Herjavec engages in various activities that bring him joy and fulfillment. He is an avid golfer, having participated in the 2010 Canadian Charity Open at the Royal St George’s Golf Club. He is also a keen runner, having competed in the 2010 New York City Marathon and the 2009 Miami Marathon. Furthermore, Herjavec is a certified scuba diver and enjoys things related to speed, such as car racing and owning several Ducati motorcycles. He has competed in the Ferrari Challenge North American Series, where he won the Rookie of the Year title in 2011 while racing under number #007 for The Herjavec Group Racing team.
Herjavec is also committed to giving back to the community. After experiencing personal struggles with depression following his divorce, he became a major donor to the Union Gospel Mission homeless shelter in Seattle, Washington. His philanthropic efforts extend to his company, where he has established an outreach program that allows employees to volunteer at the mission, work in the soup kitchen, and participate in other service activities. This reflects his belief in giving back to communities in need and making a positive space for others.
Legacy and Future Endeavors
As a renowned entrepreneur and Shark Tank investor, Robert Herjavec has left an indelible mark on the business world. His legacy is multifaceted, extending beyond his business success to include his contributions to literature and public speaking. Robert Herjavec has authored three bestselling books: Driven: How to Succeed in Business and Life (2010), The Will to Win: Leading, Competing, Succeeding (2013), and You Don’t Have to Be a Shark: Creating Your Own Success (2016).
His books and public speaking engagements share the business and life principles that guided his journey from an immigrant to a successful entrepreneur, offering practical advice to aspiring business leaders based on his personal experiences. Robert Herjavec’s CEO roles at Herjavec Group and later at Cyderes, following the merger with Fishtech Group, underscore his commitment to the cybersecurity space. His transition from CEO of Cyderes to a board member and advisor marks a new chapter in his career, where he can focus on his family and investments while continuing to influence the industry.
Throughout his career, Robert Herjavec has maintained his presence on Shark Tank, while expanding his influence through his books, speaking engagements, and media appearances. This has established him as a trusted voice on entrepreneurship, cybersecurity, and personal development. The Herjavec Group, initially founded by him, has been a significant player in the software and security sectors, and its legacy continues under the new brand, Cyderes. Robert Herjavec’s story serves as a testament to the power of hard work, resilience, and the people who have supported him along the way.
As Robert Herjavec embarks on new endeavors, his legacy continues to inspire people in the business community and beyond. His experiences, captured in his books and shared through various platforms, continue to guide aspiring entrepreneurs and CEOs. The impact of his work with companies like Brak Systems and his involvement in the cybersecurity sector will be felt for years to come.