Robert Herjavec: ‘If You’re Worried About Burning Out, Don’t Start a Business’

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Robert Herjavec doesn’t trust paintings’ lifestyle stability, not regarding them as a commercial enterprise.

“in the beginning, there’s no work-life balance,” the CEO and founding father of Toronto-primarily based internet security company Herjavec institution tells Entrepreneur. “there’s no, ‘I’ll do it when I want to do it,’ and ‘I’ll take my time and get to it.’ everything is right now.”

He says that raising a small enterprise is like raising a baby. “It’s a dwelling, breathing issue,” he says. “while it desires to eat, it wants to consume. It doesn’t care if you have a dinner date or some other place to move. It wishes what it needs while it desires it.”

related: ‘Shark Tank’ star Robert Herjavec’s pinnacle five Small-commercial enterprise marketing hints

taking care of your infant, your small enterprise, is all-eating during its infancy. Like being a crushed new discern, Herjavec says you can overlook approximately well looking after yourself while you take care of it. “you can’t. That’s a fallacy,” he says. “Don’t start a commercial enterprise if you’re concerned about burning out. The willpower and discipline required are almost impossible. It’s really difficult.”

Taking a spoil to attend to yourself is simplest an alternative, he says, after you’ve raised the toddler to live on without helicopter parenting it. At the same time, you may manage to pay for hiring employees and advertising and marketing companions to feed the subsequent degree of increase.

“simplest. When you reach a success stage, you have the freedom and the stability to do things when you need to. There’s no more freedom than having a small business and attending to dictate your timetable.”Robert Herjavec: 'If You're Worried About Burning Out, Don't Start a Business' 1
Related: Shark Tank’s Kevin Harrington Explains the ‘Wow’ issue That prompts traders to take action.

We spoke with the Shark Tank star today as he announced a new initiative in partnership with Deluxe agency, simply in time for country-wide Small Business Week. The Small Commercial Enterprise Revolution campaign will award one small U.S. metropolis $500,000 to revitalize its essential street location in 12 months. The winner will be introduced one week from today, My Update Star.

“We intend to assist small corporations become crucial,” he says. “We work with them to reveal them to a number of the super sources available to them, from advertising to financing to cloud computing and past.”

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Starting a commercial enterprise is one element; surviving and thriving is the other. To help beginner small-business owners get off on the proper foot, right here are the Shark’s top three matters to recognize for first-timers:

1. realize who your consumer is.
“The cause of a commercial enterprise is to create customers. The undertaking that small-business owners have is they don’t realize who that patron is, so they don’t recognize the way to locate them. There are so many tools these days with mailing lists, search engine optimization, and fb; you need to cross where your customers are.”

related: Daymond John’s top 7 tips on the way to release Your Product Like a Shark

2. recognize your numbers.
“You’ve got to recognize how much cash you want, what your credit line is, what your receivables are because they’re the lifeblood of any enterprise.”

3. Be inclined to paintings extraordinarily difficult.