Embracing Failure: Insights from Shark Tank Investor Robert Herjavec
Robert Herjavec, a prominent investor from the television show Shark Tank, highlights an often overlooked perspective on failure. In a thought-provoking LinkedIn post dated August 23, 2017, he discussed how failure should be viewed as a valuable stepping stone towards personal and professional growth, rather than a setback to be feared.
A Valuable Perspective on Failure
According to Herjavec, recognizing and learning from failure is crucial for success. He candidly shared his own journey, acknowledging that he has faced numerous errors and setbacks throughout his career. However, he insists that the key to growth is to learn from these experiences and avoid repeating the same mistakes.
“Failure is 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 articulated.
Reframing Failure: Learning vs. Avoidance
In his insightful commentary, Herjavec compares the term “failure”to “sales,”noting both carry a stigma that can deter individuals from pursuing their goals. He encourages a mindset shift, urging people to embrace risk-taking. By stepping outside their comfort zone, individuals can discover their true potential for success.
Herjavec emphasizes that understanding failure is essential in measuring one’s achievements. He believes that every setback provides critical lessons that propel individuals closer to their objectives.
“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.
The Dual Nature of Failure
Herjavec notes that pushing oneself beyond perceived limits often leads to failures. This can be particularly true when individuals are overburdened or overly focused on the end goal without considering the necessary steps to achieve it. Failure in these contexts can result in one of two reactions: retreating to a position of comfort or expanding one’s ambitions and capabilities.
While he acknowledges that not every venture will succeed, Herjavec reassures that both victory and defeat are integral parts of the learning process. Unexpected challenges may arise without warning, and it’s essential to maintain perspective.
“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 cautioned.
Turning Setbacks into Opportunities
Herjavec dismisses the notion that each loss diminishes previous accomplishments. Instead, he views failure as an opportunity for improvement, paving the way for future victories. He advocates for a proactive approach, urging individuals to learn from their failures to build a foundation for success.
“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.
Catch More Insights on Shark Tank
For those interested in business and entrepreneurship, new episodes of Shark Tank Season 16 air every Friday on ABC, where investors like Robert Herjavec share more invaluable insights.