Connect with us

Entrepreneurs

Why Robert Herjavec Is So Successful

Published

on

Robert Herjavec Shark Tank

Robert Herjavec started from the bottom and his worked his way to the top where he says he is ‘living the American Dream’.

Herjavec is a Croatian Born, Canadian businessman, TV personality, author and investor.

 

Robert Herjavec’s Early Life

robert herjavec shark tankAfter being born in Croatia (formerly Yugoslavia) Herjavec’s family emigrated to Canada when he was eight years old. He really did start from the bottom when the Herjavec family arrived to Canada aboard the Cristoforo Colombo in 1970 with only one, solitary suitcase. The family finally made a base in the basement of a family friends house in Toronto.

Herjavec obtained a degree in English Literature and Political Science from New College at the University of Toronto. In an effort to provide support to his mother and father, Herjavec took several low paid jobs including Newspaper delivery, waiting tables and working in retail.

Herjavec’s first career path was in film production, working in TV and Film as well as being the Field Producer for the Winter Olympics in Bosnia and Herzegovina where he was one of the youngest producers present.

 

Robert Herjavec’s estimated net worth is $100 Million.

 

Robert Herjavec’s Business Career

robert herjavec shark tankWhen Herjavec found himself in between production gigs he would always be looking for extra work. He became aware of an opening at Logiquest, a computer startup selling IBM mainframe emulation boards. Herjavec had to talk his way into getting the job because he was under-qualified for the position. He did this by offering to work for six months for free to prove his worth. To be able to make his rent during this period Herjavec worked evenings as a waiter.

After successfully earning the right to work full-time at Logiquest, Herjavec eventually became General Manager and left to found BRAK Systems, an Integrator of security software in the year 2000. He ran this business from the basement of his home and built it up to a point where it was sold to AT&T for $100 Million.

 

“What is great about entrepreneurship is that entrepreneurs create the tangible from the intangible.” – Robert Herjavec

After the sale of BRAK Systems, Herjavec took three years off to focus on bringing up his three children. Then, in 2003, he founded the Herjavec Group, a security solutions integrator, reseller and managed service provider.  The company has become one of Canada’s fastest growing tech companies, moving from 3 employees to 150 employees in ten years.  The Group’s sales in 2003 were $400,000, rising to more than $120 Million in less than a decade. These achievements mean that the Herjavec Group has been recognised with many awards Nationally and Internationally.

 

Robert Herjavec The TV Personality

robert herjavec net worthHerjavec has played a starring role in two versions of Dragons’ Den, one in Canada and the USA version called Shark Tank. Both shows feature budding entrepreneurs pitching for investment in their business. The Canadian version proved to be one of most watched, highest rated shows in the country and the USA version has estimated viewing figures in excess of 7 Million people.  Herjavec continues to build his personal brand through multiple TV appearances varying from The Queen Latifah Show, to Entertainment Tonight to MTV Cribs.

 

 

 

Robert Herjavec The Author

Herjavec has written two best-selling books; Driven: How to Succeed in Business and Life &The Will to Win: Leading, Competing, Succeeding.  In his first book, Driven, he outlines the business and life principles that made him successful. His second book, The Will To Win, offers life lessons that aim to guide the reader to a life of greater success and happiness.

 

“Successful businesspeople retain a quality most others not only lack but often fail to comprehend, and that’s the unrelenting drive to convert a vision into reality. They are driven to realize this goal in a manner that appears to defy logic among others who lack this drive.” – Robert Herjavec

 

Robert Herjavec’s Advice

http://www.youtube.com/watch?v=Zo1VGEtHzK0

 

Conclusion

Robert Herjavec has a true rags to riches story that can inspire all of us. It is clear that he was prepared to work as much and as hard as possible to get to where he wanted to be in life. From humble beginnings he has been able to create a nine figure net worth.

Ask yourself, what could you achieve if you prepared to put in the necessary work?

Jermaine Harris is a Coach, Trader, Author and Speaker. He is passionate about human potential and empowering others to change their lives in the same way he did. Jermaine believes that the opposite of being 'stuck in a rut' is possible and explains how in his book, The Rut Buster. Get to know Jermaine better at: jermaine-harris.com

Advertisement
3 Comments

3 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

How Entrepreneurs Are Harnessing LLCs to Launch Successful Startups

LLCs have unique advantages for starting up and growing a successful business

Published

on

why you should set up an LLC

In my entrepreneurial journey, I’ve learned that LLCs have unique advantages for starting up and growing a successful business. But, before delving into the advantages, it’s essential to grasp the fundamentals of what an LLC is and how it operates. 

What is an LLC?

An LLC is a hybrid business entity that combines the liability protection of a corporation with the pass-through taxation of a partnership or sole proprietorship. This unique blend provides entrepreneurs with the best of both worlds: personal asset protection and simplified taxation.

One of the most significant advantages of an LLC is its limited liability feature. This means that as the owner, my personal assets are shielded from any liabilities or debts incurred by the business.

In the event of lawsuits or financial obligations, only the assets of the LLC are at risk, offering me peace of mind and protecting my personal wealth.

Advantages of Forming an LLC

Flexibility in Management and Structure

Another aspect of the LLC that appealed to me was its flexibility in management and structure. Unlike corporations, which have rigid hierarchies and formalities, LLCs allow for a more relaxed approach to governance. As the founder, I have the freedom to structure the company in a way that suits the needs and goals of my startup.

For instance, LLCs can choose to be managed by their members (owners) or appoint a manager to oversee operations. This flexibility enables me to maintain full control of the business or delegate management responsibilities to trusted individuals while retaining ownership.

Additionally, LLCs are not bound by strict meeting requirements or extensive record-keeping obligations, reducing administrative burdens and allowing me to focus on building and growing the business.

Pass-Through Taxation and Financial Efficiency

One of the most attractive features of an LLC, particularly for startups, is its pass-through taxation. Unlike corporations, which are subject to double taxation (taxation at both the corporate and individual levels), LLCs pass profits and losses directly to their members’ personal tax returns.

This tax efficiency not only simplifies the filing process but also allows for greater flexibility in managing cash flow and reinvesting profits back into the business. As an entrepreneur, minimizing tax liabilities and maximizing financial efficiency are critical components of long-term success, and the pass-through taxation feature of an LLC aligns perfectly with these objectives.

Enhanced Credibility and Professionalism

Establishing an LLC can also enhance the credibility and professionalism of a startup. Unlike sole proprietorships or general partnerships, which may be perceived as informal or less legitimate, an LLC provides a formal business structure that instills confidence in customers, investors, and partners.

By operating under the umbrella of an LLC, I can present my startup as a reputable and established entity, which can open doors to opportunities such as securing financing, attracting top talent, and forging strategic partnerships.

This enhanced credibility can be a significant advantage, particularly in competitive industries or when seeking to differentiate my startup in the market.

Protection of Intellectual Property and Brand Assets

For startups built around innovative ideas or unique intellectual property, protecting these assets is paramount. An LLC offers an additional layer of protection for intellectual property and brand assets, safeguarding them from infringement or unauthorized use.

By registering trademarks, copyrights, or patents under the name of the LLC, I can establish legal ownership and enforce my rights more effectively in the event of disputes or infringement claims. This protection not only preserves the value of my intellectual property but also enhances the overall stability and longevity of the startup.

Steps to Form an LLC

Let us now look at the general steps to form an LLC for your business:

Step 1: Choose a Name for Your LLC

Selecting a unique and distinguishable name is the first step in forming an LLC. Ensure that the name you choose complies with the rules set by your state’s LLC division. Typically, the name must end with “Limited Liability Company,” “LLC,” or an abbreviation of these terms.

Additionally, the name should not infringe on the trademarks of existing businesses.

Step 2: Designate a Registered Agent

A registered agent is an individual or entity appointed to receive legal documents, such as lawsuits or subpoenas, on behalf of the LLC. The registered agent must have a physical address within the state where the LLC is formed.

For instance, if you are forming an LLC in Texas, ensure that your registered agent has a physical address in Texas.

This role is crucial for ensuring that the LLC remains compliant with legal requirements and maintains good standing.

Step 3: File Articles of Organization

The Articles of Organization, also known as a Certificate of Formation or Certificate of Organization in some states, is a document that formally establishes the LLC. You’ll need to submit this document to the appropriate state agency, usually the Secretary of State or Division of Corporations.

The articles typically include basic information such as the LLC’s name, address, registered agent details, and the purpose of the business.

Step 4: Create an Operating Agreement

While not always a legal requirement, drafting an operating agreement is highly recommended for LLCs. This document outlines the ownership structure, management roles, voting rights, profit-sharing arrangements, and other important aspects of the LLC’s operations.

Even if you’re the sole owner of the LLC, having an operating agreement in place can help clarify expectations and prevent disputes in the future.

Step 5: Obtain an Employer Identification Number (EIN)

An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify your LLC for tax purposes.

Even if your LLC doesn’t have employees, obtaining an EIN is necessary for opening a business bank account, filing taxes, and conducting other financial transactions.

Step 6: Obtain Necessary Permits and Licenses

Depending on the nature of your business and its location, you may need to obtain various permits, licenses, or certifications to operate legally. These requirements can vary widely from one industry and jurisdiction to another. Common examples include business licenses, zoning permits, health permits, and professional licenses.

In my entrepreneurial journey, the decision to establish my startups as LLCs has been instrumental in mitigating risks, optimizing financial performance, and positioning my ventures for long-term success.

By harnessing the advantages of the LLC structure, I’ve been able to navigate the complexities of entrepreneurship with confidence and resilience, laying the groundwork for a bright and prosperous future.

Continue Reading

Entrepreneurs

Build a Strong IT Team with These Smart Hiring Tips

Without dedicated IT staff, your company may not be able to function as efficiently or effectively

Published

on

Hiring tips for tech industry

The role of IT staff in your company is not only essential but also ever-evolving. As your business grows, so does the need for qualified IT staff and more robust recruiting solutions.

After all, from maintaining and troubleshooting the computer systems that keep your business running smoothly, IT staff also help employees stay connected and productive by providing technical support at all times. (more…)

Continue Reading

Entrepreneurs

5 Important Legal Tips Every Entrepreneur Should Know

With a firm commitment to legal knowledge, you pave the way to grow your business sustainably

Published

on

legal tips for entrepreneurs

Embarking on the entrepreneurial path is a courageous venture that calls for a diverse skill set to achieve enduring success.

While creativity, drive, and strategic vision are paramount, integrating legal insight into your entrepreneurial toolkit can be a game-changer.

This comprehensive guide delves deeper into the five critical steps that can empower you to navigate the intricate legal landscape and propel your venture toward prosperity. (more…)

Continue Reading

Entrepreneurs

6 Hacks to Boost Your Productivity as a Business Owner

To improve how much you get done each day, it’s smart to establish routines and use careful planning

Published

on

productivity for business owners

Entrepreneurs are always looking for ways to get more done with the time and resources they have. Business owners can use clever productivity tricks to break these limits and make the most of their projects. (more…)

Continue Reading

Trending