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'Shark Tank' Star Robert Herjavec Reveals Which Shark "Turns Crap Into Gold"

'Shark Tank' Star Robert Herjavec Reveals Which Shark "Turns Crap Into Gold"

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The businessman talks Season 8 of "Shark Tank" and what type of car each of his co-investors would be.

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Young Hollywood

Feelings. Kevin sang the same song. What? But who sang it? Who sang it better? How like over the years, how would you say that your standards for investing and your level of expectations of entrepreneurs coming into the tank? Has it evolved over the years?

Robert Herjavec

We all have greater expectations because we've all made real money from the show. It's interesting. The show airs in 40 countries. This is the only country where the sharks or the dragons, as they're called, make consistent money on the show. So we have very high standards.

Young Hollywood

So speaking of consistent money, like you have to do your due diligence after, you know, so do you have like a high percentage of deals that actually close after the show?

Robert Herjavec

Yeah, I think we all do. I think over time, what happens is at the beginning, people don't understand the show, they fib a little bit about the numbers, that doesn't happen anymore. A lot of the deals do close.

Young Hollywood

Interesting. And then on the panel, because I mean, all of you guys have your own methodology, your own style of investing. Like other than your own, is there anyone of the sharks that you really believe in that has like the most successful way?

Robert Herjavec

Barbara. I believe in Barbara. She takes crap that nobody in their right mind would invest in and she makes it gold. Barbara is the queen of turning crap into gold.

Young Hollywood

Interesting. I told her she was tough and she was like, "I'm not tough." I'm like, "But in a good way."

Robert Herjavec

No, no, she is tough. Yeah. Or mean. A little mean. You know, Kevin calls her a witch. So mean to her.

Young Hollywood

Who is who is more mean though? Kevin or Barbara? Because it's kind of a toss up.

Robert Herjavec

Mark. Oh. Okay. I would go I would actually go with that. Because he he Kevin's not that mean. He said he just tells the truth. He just tells the truth.

Young Hollywood

Kevin could be Well, he's kind of mean. He's kind of mean. Is there somebody when you come into the tank, like has there ever been a a deal that you didn't invest in that now you're like, "I wish I did." Or you kind of just once it's over, it's over?

Robert Herjavec

Once it's over, it's over. 50,000 people applied to our show this year. Wow. There's always another entrepreneur coming through those doors.

Young Hollywood

That's interesting. Um and then let's talk about your you have an obsession with cars. I actually just saw I know you did you were on Jay Leno's show.

Robert Herjavec

Oh my god. That was I said to Jay, I said, "Jay, if you need me to co-host the show, I will quit Shark Tank and every other form of TV." No way. That was so much fun.

Young Hollywood

What are you doing? You just like drive around in like crazy cars because you're a race car driver too.

Robert Herjavec

No, I have I race cars, which is cool, but I also collect very rare cars. I've actually bought a lot of cars over the years and you know, cars are the best investment you can make over the last 25 years. It's true. More than stocks, more than real estate.

Young Hollywood

Yeah. How would you compare sort of like your passion for your for cars to like passion for business? Is there

Robert Herjavec

Very similar.

Young Hollywood

Let me ask you this, if the sharks were cars, what kind of a car would each shark be? Oh. That's a good one. I just thought of that. Let me think. I want you to answer that one actually. Since you're the car.

Robert Herjavec

Yeah, Mark would be a 1968 Mustang 350 Boss engine. Uh, Lori would be a pink Mini. Uh, Barbara would be a Lexus. Okay. Uh I like that. Yeah. And I would be a Ferrari.

Young Hollywood

What about Damon?

Robert Herjavec

Oh. Damon would be a Rolls Royce. Of course. Yeah. Of course. Kevin would be a Hyundai.

Young Hollywood

Um and then is there anything new like on the season like other deals just sort of impressed you more? Is there something that's blowing you away?

Robert Herjavec

Yes, it's incredible. We've been shooting for a week and you always think, "How can there be something new?" but some of the businesses are incredible. A lot of services businesses, a lot of kick starter stuff. We're shooting with all six sharks for the first time. It'll be impossible to get a word in edgewise, but there's always something new.

Young Hollywood

Is there anything that's exciting you like in a different what industry is sort of like exciting you the most right now?

Robert Herjavec

We don't you know, it's funny. I don't do that anymore. Shark Tank is such a great platform for consumer products. Anything we think will hit with the audience, I'll invest it.

Young Hollywood

Okay. Yeah. And then you've just built such an incredible business yourself. Is there anyone that was like your mentor or who influenced you growing up that you admired?

Robert Herjavec

Yeah, lots of people. I used to work for Warren Avis, the guy who started Avis Rent a Car.

Young Hollywood

Wow. Yeah, he was an incredible mentor. Is that sort of like spark your car enthusiasm?

Robert Herjavec

No. No, that started a long time ago. That started a long time ago.

Young Hollywood

Um and then who out of all the sharks, like if you were an entrepreneur coming into the tank, other than yourself, is there someone that you would want to invest in your business?

Robert Herjavec

Barbara. Oh, Barbara. Yeah. You know, she she comes across as wacky and flighty, but she's really smart. She's a great entrepreneur.

Young Hollywood

Okay. Yeah. And then guest sharks. You've had a lot of guest sharks in the past. Chris Sacca. Is there anyone that you would love to have as guest shark that hasn't been here yet?

Robert Herjavec

No. No.

Young Hollywood

Really?

Robert Herjavec

Yeah, we we have we know what we're doing. I like the sharks we have.

Young Hollywood

Okay. So you're not you don't need more cooks in the kitchen is what you're basically saying.

Robert Herjavec

No, we don't need more cooks in the kitchen. People know what we're about and I think it's a great platform. We're doing a great job.

Young Hollywood

So what advice do you have for people who, you know, are entrepreneurs who want to become successful, you know, but it's hard because you have to know how to balance. You also have to know how to like sacrifice a lot of your life. Entrepreneurs are wired very differently. So what is your advice to sort of keep going, keep being motivated, stay on top of the game?

Robert Herjavec

I you know, I think you gotta love what you do. I think I think it is hard, but you know, anything in life worth having should be hard. If it was easy, everybody would do it, but you gotta have a greater purpose and there's nothing better than being an entrepreneur and setting your own schedule. I've never missed a swim meet. I've never missed anything for my kids. I you get to schedule your own time. That's what freedom is about, controlling your time.

Young Hollywood

Interesting. Okay, and then lastly, is there a favorite quote that you live by? Uh You can think about it.

Robert Herjavec

Every day somebody wakes up with the sole intention of kicking your ass. That keeps me going in the morning.

Young Hollywood

Is there anyone on the on the sharks? That's actually Mark's quote.

Robert Herjavec

No, nobody motivates me. Are you kidding me? I'm a self-starter.

Timestamps are approximate — click one to jump the player.

PEOPLE MENTIONED

  • Robert Herjavec

    Shark Tank investor and interviewee

  • Barbara Corcoran

    Fellow Shark praised for her investing style

  • Kevin O'Leary

    Fellow Shark, called 'mean' and compared to a Hyundai

  • Mark Cuban

    Fellow Shark, considered 'mean' and compared to a Mustang

  • Lori Greiner

    Fellow Shark, compared to a pink Mini

  • Damon John

    Fellow Shark, compared to a Rolls Royce

  • Jay Leno

    Host of a show Robert Herjavec appeared on

  • Warren Avis

    Founder of Avis Rent a Car, Robert Herjavec's mentor

  • Chris Sacca

    Past guest Shark

FAQ

Which Shark does Robert Herjavec believe is the most successful investor?+
Robert Herjavec believes Barbara Corcoran is the most successful investor because she has a unique ability to turn seemingly bad investments into gold.
What car does Robert Herjavec compare himself to?+
Robert Herjavec compares himself to a Ferrari when assigning car types to the Sharks.
Who was Robert Herjavec's mentor?+
Robert Herjavec's mentor was Warren Avis, the founder of Avis Rent a Car.
What is Robert Herjavec's advice for entrepreneurs?+
Robert Herjavec advises entrepreneurs to love what they do, as anything worthwhile in life is hard. He emphasizes having a greater purpose and the freedom of controlling one's own time.
Do many deals on Shark Tank close after the show airs?+
Yes, Robert Herjavec states that a lot of the deals do close, especially now that entrepreneurs understand the show better and are more truthful with their numbers.
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