23 Mar Shark With A Big Heart: Robert Herjavec’s Advice To U.S. Entrepreneurs
“Panic won’t get you through this, a clear head will” Listen to the podcast
– Steve Morgan, Editor-in-Chief
Northport, N.Y. – Mar. 23, 2020
Founders and CEOs of U.S. businesses are paddling through an economic and workforce sea change. Robert Herjavec, a Shark on ABC’s Shark Tank and CEO at Herjavec Group, has brutally honest and compassionate words of wisdom for anyone that will listen.
How long can my business survive with our current cash reserve? Are we prepared to support and secure a 100 percent remote workforce?
We spoke to Herjavec about the grim reality of how the Coronavirus outbreak is affecting U.S. entrepreneurs, and what they should do — from an emotional standpoint, and technology wise.
“Don’t panic” is Herjavec’s overriding message. That doesn’t mean there isn’t a reason to worry. The truth is that employers are faced with the very real prospect of their businesses drying up quickly, and layoffs.
Every company is different, and Herjavec doesn’t have a magic answer for any one of them. But he does offer up a message for the psyche that can make a big difference — perhaps even the difference between going out of business and surviving: “Panic won’t get you through this, but a clear head will.”
If you can’t eliminate the panic, then limit it, advises Herjavec. “Start to control the things you can. The biggest thing you can control is yourself. Limit the amount of negative news you are taking in.”
An equally important message from Herjavec to entrepreneurs is a sobering one — and it’s best received in a calm state of mind. He says right now it’s about survival for many businesses, especially smaller ones with little to no financial cushion. “Do what you can to stay in business.” He says that federal aid will take a little while to reach those in need, and you can’t bring a company back from the dead.
Our discussion with Herjavec is good for the psyche in more ways than one. He has a couple of quick stories that will make you laugh. Have you heard the one about the guy who was so lonely that he intentionally clicked on a phishing email from Apple tech support? Or the one about Herjavec getting pulled over by the police — while he was driving a golf cart? Listen here.
We all need to remember who we are, at our core. Herjavec reminds us. “Our primary baseline is hope. People are going to dream again and build and have hope.” There will be light at the end of the tunnel. Entrepreneurs never die, they start up again.
The Shark with a big heart has generously agreed to give our listeners some more of his time. Stay tuned. We’ll be back with another discussion.
– Steve Morgan is founder and Editor-in-Chief at Cybersecurity Ventures.