#CreateYourSuccess: Never Get Comfortable

I’m a big believer in falling down 7 times, but getting up 8. I try to relay the importance of being resilient and having the will to win when dealing with my Shark Tank companies, talking to entrepreneurs, or interacting with my team at Herjavec Group.

Now, I want to share my advice and tools for success with all of you. Here is my monthly roundup of advice and resources for those who strive to create their own success.

The #SmallBizCorner

If you know anything about me, you know I'm absolutely crazy about entrepreneurship! I respect the hustle, the pain and the passion entrepreneurs have for their business. It's not always easy - in fact, it's never easy - but starting and running your own business can be the most rewarding life experience. In this section, I'd like to share some of my advice for the entrepreneurs out there...

It's easy to get complacent. Once a steady stream of revenue is established or a target has been hit, many entrepreneurs can become "comfortable". As a leader, know that it's much harder to restart stalled momentum than it is to keep going. Trust me - your business will never be "fully built" and complacency ultimately trickles down.

You see it in sports all the time. A team goes roaring through the schedule, winning game after game until it appears unbeatable. Then the same team loses to another team that it should have beaten easily. What happened? The coaches didn't do their job.

As soon as you feel bored or indifferent, it's time to reevaluate what you're doing and make a change.

Lessons for Leaders

For a business leader, one thing never goes away - learning. No matter who you are, or how successful you might be, you can always learn something. Here's my big takeaway for leaders this month.

The Surprising Habits of Original Thinkers | Adam Grant

Adam Grant, one of the top organizational psychologists in the United States, shares the story of how he missed out investing in Warby Parker. Trust me - I know the feeling well! For Adam, this led to studying people he calls "Originals" - the people who drive creativity and change in the world. In business, we get caught up in always coming up with the hottest "new" concept that will change the world. Grant argues that Originals aren't the First Movers, but instead the Improvers. If you're stuck in a creative rut or are trying to come up with a new idea, I recommend you watch this video.

Step Into the Tank

After years of being on Shark Tank, I’ve seen many different types of people come through those doors. As a Shark, we’re not just investing in the business – we’re investing in the entrepreneur. We look for their passion, knowledge, preparation, and charisma. In this section, I want to highlight the entrepreneurs and businesses that have impressed me in the Tank and I ask them for the top three lessons they learned from their Shark Tank experience.

Buttercloth

Business Owners: Danh Tran (Founder & CEO), Robert Stevens (COO), Metta World Peace, and Mute Six, Inc.

Buttercloth aims to create a world where fashion and comfort are merged into one. They want their customers to ultimately experience the quality, style, and comfort that's possible.

Top Lessons Buttercloth learned from their Shark Tank experience:

1. Have a product with a genuine “hook” – It must be something that is easy to differentiate and solves a problem for the consumer.
2. Have a marketing plan that is scalable – Customer acquisition costs are key.
3. Know your numbers – Create a solid business plan and be very close to it.

What I'm Reading

Leaders are readers. I'm always reading one or two books at any given time, and over time I've read some truly fantastic books that have helped me gain perspective or improve myself and my business. Here's my recommendation for the next book to put on your reading list.

Lights Out by Thomas Gryta & Ted Mann

Lights Out is a fantastic read on how General Electric - once a poster child for excellent executive management - spiraled into an absolute nightmare. It's a perfect reminder that you are never too big to fail.

The book is filled with powerful lessons about always staying on your toes and never losing your hunger, no matter how big you get. In other words, never get comfortable.

A Cybersecurity Minute

You might know me as a Shark on Shark Tank, but first and foremost I am the CEO & Founder of Herjavec Group, a global cybersecurity firm that protects enterprise-level businesses from cyber threats and attacks. It wouldn't be my newsletter if I didn't share my take on what I'm seeing in the cyber industry right now !

Cyber CEO: Every Publicly Traded Company Needs Security On Board

It’s crazy to me how many publicly traded companies lack cybersecurity expertise on their board of directors. If cybercrime is the greatest risk facing most companies today (and I believe that it is), then the lack of security in the boardroom is very concerning.

For any publicly traded company, the executive leadership has to answer to its shareholders. After all, any incident — no matter how big or small — can impact the stock price.

So, why don't more publicly traded companies have at least one board member with expertise in cybersecurity? Check out my latest Cybersecurity CEO blog where I outline why every single board should include some form of cybersecurity expertise — no exceptions !

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Get more cyber thought leadership from Herjavec Group here.

Thank you for following me on LinkedIn and subscribing. Stay tuned for more monthly newsletters. It's a privilege to join you on this journey as you #CreateYourSuccess.

To Your Success,