Robert Herjavec on The Truth About Success, Shark Tank, & Entrepreneurship

He came to North America at age 8 from communist Yugoslavia with one suitcase, no connections, and parents who had nothing to give him but opportunity. Robert Herjavec turned that into a $500 million cybersecurity empire. One inch at a time. Robert brings something rare to this conversation: 22 years on Shark Tank, multiple exits, and a front-row seat to what separates businesses that actually scale from ones that just make noise. He's watched thousands of entrepreneurs pitch, fail, succeed, and lie to themselves about which one they're doing. His perspective on where the economy is heading, what AI is actually going to destroy, why most people raise money way too early, and what it genuinely costs to build something lasting is as grounded and unfiltered as anything I've heard from anyone at his level. In this conversation, I push Robert on whether Shark Tank has actually done damage to a generation of entrepreneurs, a question I've asked Damon and Barbara that nobody has answered the way Robert does here. I challenge him on the influencer economy and what it's doing to people's perception of what building a business really looks like. And I get personal with him about faith, fathers, and whether the grind of it all is worth it at this pace. Here's what you'll gain from this episode: One Inch at a Time: The philosophy Robert has carried since he was 22 years old, and how it connects directly to my "Power of One More" framework - the core of how both Robert and I approach the hardest days in business and in life. What Shark Tank Actually Did to Entrepreneurship: Robert gives the most honest answer I've ever heard from a Shark on whether the show did damage to a generation of entrepreneurs. Hold Your Equity: Why Robert has self-funded every business he's ever built, the advice that shaped that conviction, and a warning about raising money early. Where AI and the Trades Are Heading: Robert's specific read on which industries are about to be wiped out and which are going to double in income. Good Doesn't Mean Weak: The tough lesson both Robert and I learned the hard way and what you should do instead. This conversation went places neither of us planned, and I think that's what makes it one of my favorites. Learn more about your sleep today. Visit https://sleepdoctor.com. 👉 SUBSCRIBE TO ED'S YOUTUBE CHANNEL NOW 👈⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ → → → CONNECT WITH ED MYLETT ON SOCIAL MEDIA: ← ← ← ➡️ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠INSTAGRAM⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ➡️⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠FACEBOOK⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ➡️ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LINKEDIN⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ➡️ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ➡️ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠WEBSITE⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Ed Mylett?

  I hear so many small business owners say the exact same thing. They just never have enough time in the day. Well, I measure time differently. I've compressed, condensed, heck, I've bent time. My first day is 6:00 a.m. to noon. My second day starts at noon and goes till 6:00 P.M. And my third day, 6:00 P.M. to midnight. I now get 21 days a week. Stack that up over a month, over a year, over five years, and my life's completely different than it would have been otherwise. And if you want to win as an entrepreneur, you have to compress your time, too. And you definitely can't afford to waste it waiting weeks on a big bank for capital. Your best bet's to work with my friends at Cardiff. They know how to compress time for entrepreneurs. They get your business approved in minutes and funded the very same day. They're America's favorite small business lender, and for good reason.

• 0:45Ed Mylett?

  Over 20 years in business, over $12 billion deployed to small business across America. Stop letting bank delays slow down your momentum. Head to cardiff.co/ed. That's cardiff.co/ed. Cardiff.co. Real growth, fast funding. Cardiff, borrow better.

• 1:03Speaker 01

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• 1:34Ed Mylett?

  This is the Ed Miliband Show. Welcome back to the show, everybody. It's odd to introduce this person because all of you know who he is, but some of you are listening on audio and can't see him.

• 1:47Speaker 02

  You're too nice.

• 1:48Ed Mylett?

  Well, it's just a fact. I think of a serial entrepreneur. I think of somebody who... I'm gonna tell you what I see in you from a distance, having we just met. I like the fact that you treat people so kindly when you give real feedback. I think you're like the kind shark, the one with real wisdom and poise. There's like an elegance about the way that you communicate. And by the way, that's why he's such a great speaker on stage. So if you've seen him on Shark Tank, you've seen him there. He's a tremendous stage speaker, bestselling author, serial entrepreneur.

• 2:18Ed Mylett?

  But overall, he is somebody that I've admired from a distance for a very long time, and I want to have a different type of conversation today. So I'm looking to get into the brain of Robert Hershevec. Welcome to the show.

• 2:28Speaker 02

  Thank you very much. Incredible intro. You're way too kind.

• 2:32Ed Mylett?

  That's true.

• 2:33Speaker 02

  And, you know, people always say to me when they meet me, you're the nice one. You're the tall one. You're the good-looking one.

• 2:40Ed Mylett?

  You're the tall one?

• 2:41Speaker 02

  Well, relative to Kevin and Dave and all this other stuff, not relative to Mark. And I always say it's a very low bar on the show. You know, it's funny, I did the Australian version of Shark Tank. And in Australia, I'm the mean one.

• 2:56Ed Mylett?

  You are. You're the Simon Cowell of the Australian one.

• 2:58Speaker 02

  I am, because they're so nice there.

• 2:59Ed Mylett?

  Well, you know, the one other thing too, I want to tell you, and I was saying this off-camera to you, you look great, which we should talk about towards the end today. Like, I've watched you over the years, you look better than when the show started, so I want to kind of pick your brain about a little of that, too. But, when I got you here, I want to talk mainly about business.

• 3:15Speaker 02

  Love business.

• 3:16Ed Mylett?

  I want your mind a little bit around this. You've got the cybersecurity background, you've had exits, you've invested in all kinds of different businesses. It's no secret, we're in this era of real innovation, and it's accelerating now, right? And so, you have guys that are in the trades now, aren't earning doctors in some cases. And I'm wondering, from a business perspective, if you were to advise somebody, whether deploying time and capital, what are the places you would say, you're spinning your wheels there, this is not going to go? And what are the industries or places, overall, that you go, I think there's a bright future there?

• 3:47Speaker 02

  Yeah, so I'm, obviously, my background is cybersecurity. I've been doing it since I was 21, just kind of fell into it. But in the last few years, I've really gotten very deep into AI. So I think we're going through a technological revolution. There'll be the greatest technology revolution in our lifetime. And I was there at the beginning of the internet, and I thought, in my lifetime, the internet, AI will transform everything. So... And just like anything, just like business, there'll be huge winners and big losers. And I think it's going to be very uncomfortable for the next three to five years.

• 4:29Ed Mylett?

  Okay.

• 4:29Speaker 02

  The places that I would stay away from are anything that's repetitive, anything that's mundane.

• 4:37Ed Mylett?

  What do you mean? Give me an example, if you don't mind.

• 4:38Speaker 02

  Law clerks.

• 4:40Ed Mylett?

  Okay.

• 4:40Speaker 02

  You know, the basis of law at a law, so if you think of a typical law firm, you've got clerks, you've got research analysts, and then you've got the lawyers up top. Everything up to the actual litigator, the relationship component is going to get outsourced by AI. Case studies, what does it mean? All of that kind of stuff. So any kind of those administrative type tasks.

• 5:07Ed Mylett?

  Okay.

• 5:07Speaker 02

  Hugely valuable.

• 5:08Ed Mylett?

  Yep.

• 5:09Speaker 02

  But the key used to be who can find the best research. That's no longer a competitive advantage.

• 5:16Speaker 02

  On the flip side, anything that is mechanical, plumbers, I'm with you. You said earlier plumbers are earning doctors. I think you're going to see trades double in income over the next five to 10 years.

• 5:29Ed Mylett?

  Okay.

• 5:30Speaker 02

  Because number one, so few people want to do them.

• 5:32Ed Mylett?

  That's right.

• 5:32Speaker 02

  And it can't be replicated with AI.

• 5:35Ed Mylett?

  Is that a yet? Is that a yet? It can't be replicated with AI. Could you see a day where, I have a guy right now that's exiting that I coach, and he'll actually be on the show, so I'll wait to have him on, but he's having a billion dollar exit from the trades. Garage door, plumbing, things like that. And I asked him, I said, you know, right now that those are safe. Do you see a day where there's some sort of robotics doing even that type of work? I'm just curious what you would think about that.

• 6:00Speaker 02

  No, it'll, it'll, it'll never, it'll never happen, and I'm hesitating with the never, because I think certain tasks up to the actual work can be replicated. The scheduling, the timing, the customer service, but that's not plumbing. The art of plumbing is understanding the infrastructure of a house.

• 6:19Ed Mylett?

  Good point.

• 6:20Speaker 02

  What's going on, that kind of stuff.

• 6:21Ed Mylett?

  Good point.

• 6:21Speaker 02

  And I also think human relationships become more valuable.

• 6:26Ed Mylett?

  I agree.

• 6:27Speaker 02

  That the guy or girl who can sit down, talk to people, build a bond, AI is never going to replace that.

• 6:34Ed Mylett?

  Boy, I thoroughly agree with that. I just did a whole coaching call on it. All right, I got, I've had most of the sharks on.

• 6:40Speaker 02

  Really?

• 6:40Ed Mylett?

  Yeah.

• 6:41Speaker 02

  I've had Barbara on.

• 6:42Ed Mylett?

  I've had Barbara on, I love Barbara.

• 6:43Speaker 02

  I love Barbara.

• 6:43Ed Mylett?

  Yeah. She kinda flirted with me.

• 6:44Speaker 02

  She was just on my plane.

• 6:45Ed Mylett?

  Yeah, she flirted with me.

• 6:46Speaker 02

  Of course, you know.

• 6:47Ed Mylett?

  Yeah, yeah.

• 6:47Speaker 02

  She just flew on my plane this morning from Miami.

• 6:49Ed Mylett?

  Oh, she did?

• 6:50Speaker 02

  And I'm like, how dare you use my plane?

• 6:52Ed Mylett?

  I think she's wonderful, I think she's... No pun intended, I enjoyed our conversation and I did her show too. But I've asked them all this, and I've... I reached this conclusion, and this is a hard question. I love Shark Tank. It's been so good to bring entrepreneurship front and center in the world, right? And it's made it a cool thing to do. It's made it something that more and more people are intrigued by. I think it's less mysterious than it used to be. But I wonder your thought, and I asked Damon this, and I don't feel like he answered it completely. Sometimes I think it's done a little damage in this sense, so just stay with me and I want your feedback on it. Everyone thinks they're an angel investor now. And there's so many people I know that have frankly lost a lot of money.

• 7:34Ed Mylett?

  It's also made entrepreneurs that are startups in a big hurry to raise money all the time. Prematurely, it seems like to me. And I'm wondering if most people wouldn't be more successful redeploying their capital in their own business or in something they understand and control, and not so much angel stuff or VC-type investing all the time. Because so much risk is associated with it, and I wonder if everyone understands that from watching the show.

• 8:00Speaker 02

  So, best comment about Shark Tank anybody's ever said to me? I mean, really, really astute of you. First of all, undeniable what Shark Tank's done for America.

• 8:11Ed Mylett?

  Right.

• 8:12Speaker 02

  And globally. And the show runs in 54 countries. You know, I'm the George Clooney of Portugal. It's great. It's demystified being an entrepreneur. It's taught America the language of business. I mean, think about it. I had never met anybody who'd started a business until I was 26 years old.

• 8:34Ed Mylett?

  Likewise.

• 8:35Speaker 02

  And then I was like, you own the business? Like, the government didn't... Like, wow. All of those things are positives. There's two negatives of the show. And by the way, the positives far outweigh the negatives. Agreed, I agree. But there are two negatives. And the first one is a general negative with social media. We have made it, we have made the pursuit of wealth seem like that's the goal of business. And we have made it seem like it's easy. And so you look at these social influencers and they're flying around in a private jet and they've got a Lamborghini and you know, there's all kinds of people that are, "Look at me, I'm

• 9:19Speaker 02

  successful in my jet and on my fancy car." Yes. That is not the purpose of business. It is very rare, in my opinion, that I've met people who have built great businesses for a bigger paycheck. You're right. There's nothing wrong with money and I love money and I love toys and I love to spend it, but I love creating value, not just for customers, but for the people I employ. So that's the downside. Because it seems so accessible, it's made it seem easy for the wrong reason. The second part of it, as you say, is, like I just had lunch with somebody yesterday, they wanted me to go into their business with them.

• 10:01Speaker 02

  And I was thinking, maybe I'll go in as a partner and buy 50% of it. And the guy's telling me about it and he's like, you know, "We'll get it up to like 10 million ARR and then we'll raise equity." And I'm like, "Why do we need to raise money?" Right, right. And he looks at me and goes, "Well, you know, we could go out and raise 50, 100." Because that's what you do, right? I said, "Well, why wouldn't we just fund it? Like, why wouldn't we just use the cash flow from the business to fund it?" And that is the downside of our show is, I think, I used to work for Warren Avis. The guy who started Avis Running Car. And he was this old scraggly guy and I was just a young kid, didn't know anything. But he gave me an incredible piece of advice.

• 10:44Speaker 02

  He said, "Kid, if you ever start a business, your only payback is your equity." Yeah. Hang on to as much as you can, as long as you can. And on Shark Tank, people are giving up 40%. They're like, "Why would you start a business and give up that much equity?" So I'm, I'm, I'm with you. Okay. But- In the light of having ignorance and understanding business, there's far greater good than bad. But, and Kevin and I argue about this all the time. Every business I've sold, I owned a hundred percent of.

• 11:22Ed Mylett?

  There you go.

• 11:23Speaker 02

  I funded it with credit cards.

• 11:25Ed Mylett?

  There you go.

• 11:25Speaker 02

  The other thing is if you ever watch the show, people come on and they'll say, I used my house as collateral. And the shark's like, oh, oh my God. And I'm thinking, every business I started.

• 11:36Ed Mylett?

  I'm thinking, I love that.

• 11:37Speaker 02

  I love that.

• 11:38Ed Mylett?

  Right, I do too.

• 11:39Speaker 02

  Because if it didn't work, it was my ass on the line.

• 11:42Ed Mylett?

  Yes.

• 11:42Speaker 02

  I have no problem with that.

• 11:43Ed Mylett?

  We had the guy on recently, I feel bad that I'm not remembering his name, but he was the president of Tesla for about a decade. And he shocked me on the show saying that they ran the company for a decade on three months operating cash. And I thought, and his theory with him and Elon was that that kept them lean and mean, it made them, they had to make strategic decisions all the time of where to deploy capital. I'm sure they could go into reserves when they needed to. But the point was, it wasn't rich with cash all the time from raising money from people. And sort of, sometimes it can dilute the value. I think a lot of people don't even know what the term dilution means. You hear someone exited their company for, that's the other thing on social media. So and so had an exit for $60 million or a hundred million. You don't know how many other investors there were, you don't know what their debt was, you don't know a lot, right? And that's one of the things that concerns me too, but I love, I love the show.

• 12:28Ed Mylett?

  I asked Damon this and Barbara, so I'll ask you. Would you be wealthier had you not ever invested in any of the shows on Shark Tank and taken that capital and just deployed it in businesses that you controlled completely yourself?

• 12:44Speaker 02

  At the risk of sounding incredibly arrogant, it's such a small amount of money relative to what I deploy, that, you know, no, not, not, not really.

• 12:53Ed Mylett?

  I don't think that sounds arrogant.

• 12:56Speaker 02

  I think the primary goal of Shark Tank, if all the sharks are being honest, is, and there've been some huge winners, and I've had a couple of big winners, but really, it's to help entrepreneurs. Most businesses that come on the show don't need the money. They need help. You know, when you're starting out and you're zero, five million, 10 million, is 500,000, 200,000, is it gonna change the course? What you need is guidance. Which way do I go? Money wouldn't have helped me grow my business faster. If I looked, I mean, my last company, I built it to, what we were about 400 million from zero with my own money.

• 13:40Ed Mylett?

  Awesome.

• 13:41Speaker 02

  Would I have grown it faster if I had an investor? Absolutely not. Would I have grown it faster if I knew what I know now? Absolutely. Like, if I had you sitting there with me, or Mark, or somebody along the way, it would be a bigger business.

• 13:57Ed Mylett?

  See, what I thought you were gonna say there, by the way, again, just acknowledge, I agree that. Finding, there's that Chinese proverb, if you wanna know the road ahead, ask those coming back, right? To find somebody.

• 14:07Speaker 02

  I've never heard that.

• 14:08Ed Mylett?

  It's good, right? And to have some sense of direction. But what I thought you were gonna say, cuz I do think there's a lesson in this day and age. You and I are both feeling the same way about the influencer entrepreneur space. It concerns me about people not understanding how hard it is and how long the hours can be. And I, here's what I think. I, I thought you were gonna say, one of the keys for the show is that they're getting exposure through the show.

• 14:31Speaker 02

  Undeniable.

• 14:32Ed Mylett?

  And, and relationship or, or connections that you all have. And the lesson in that to me, and I wanna ask you about this, is, business when I was growing up was more about who you know. And I feel like now, in this age, it's almost sometimes, sometimes, who knows you, right? And so, do you, would you give someone advice that's listening today to be growing their brand online? Or do you think that's industry-specific, where someone should be working on growing their brand and notoriety?

• 15:01Speaker 02

  Gosh, that's such a great question, Ed. So first of all, undeniably that the platform of Shark Tank amplifies your business. Undeniable. Maybe in the first couple of seasons, but now, just getting on Shark Tank is a big deal. So that's undeniable. It's funny, when I started out in business, there's two sage piece of advice every smart person told me. It's not what you know, it's who you know. In order to make money, you need money. I had no money. My mom was a receptionist, my dad was a blue collar worker sweeping factory floors.

• 15:38Ed Mylett?

  Great story.

• 15:39Speaker 02

  I was screwed before I started. And I believed that, and that was my mindset. And I thought, as long as I'm great at what I do, people will find out. And I carried that for a while, and then one day I realized, no, that's not true. There is no thing as genius in the darkness of a basement. The world is not going to beat a path to your door. You have to tell the world who you are. Now, there's a line. I think a lot of social media people go too far. There's a line between branding, marketing, amplification, and arrogance.

• 16:25Speaker 02

  So I don't think you have to be arrogant about it, but man, you got to market yourself. So, yes, the world needs to know who you are and where to find you. Now, the flip side of that is, you're such a micro economy and all these things. If you sell a product, you're to a very niche industry. It's easier to market to those people, and they can find you. So for what you want to do, the world needs to know that's you.

• 16:52Ed Mylett?

  That's a great nuance right there. That's really good. Man, I'm really glad we're doing this today, actually. This is such a good conversation. Do you feel that everyone could learn to be an entrepreneur? Or do you think some people, there's just... I feel like if you cut you open, or you cut me open, or you cut most entrepreneurs that have some success.

• 17:12Speaker 02

  Man, that's such a great question.

• 17:13Ed Mylett?

  You know, there's something in there. I don't know what it is, if it's a relentlessness, a hunger. I don't know what that thing is, but I don't know that, I don't know that everyone has that. What do you think?

• 17:26Speaker 02

  Everyone has that. Okay.

• 17:30Speaker 02

  A good friend of mine was a priest. And he gave me a great, one of my best friends, and he said, when I was going through a really, really rough time, um, I actually ended up, uh, living at the homeless shelter in Seattle. He's serious. That's a long story. Wow. And he was there and he said to me, you will never see anything in life as amazing as another human being. And I really believe that. And I believe if you cut me open, if you cut you open, if you cut everybody here open, everybody has that in them.

• 18:08Speaker 02

  What everybody doesn't have is the willingness to endure the pain that's required to get to those goals. Everybody wants to be successful. Very few people are willing to pay the price. So good. And it's so true.

• 18:27Ed Mylett?

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• 19:11Ed Mylett?

  Go to ro.co/milet to see if you qualify. That's R-O dot C-O slash Mylett to get started on Ro. For side effects of GLP-1 medications, including boxed warning, go to ro.co forward slash safety. R-O dot C-O slash safety. So when I end, when I ended up buying the island, we had to do all of our outdoor decorating, and I spent a fortune in the first half of the place. And I'm like, I don't want to do this anymore, but I want the best stuff. And that's Where Wayfair came in. My wife wanted to get this new garden bed and Wayfair was the place that offered the perfect solution. Wayfair also helps you create a home that stands up to real life with quality products, great value and trusted reviews. Wayfair verified products are hand vetted by product specialists. They use a 10-point quality inspection system. Here's all I can tell you. The stuff has lasted over time. It looks great and I get compliments on it.

• 19:56Ed Mylett?

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• 20:31Speaker 02

  When I was younger, I wanted to be rich. I mean, who doesn't want to be successful? Nobody wakes up purposely and says, I want my life to suck. That's a defense mechanism. Anybody who says to me, oh, you know, I wouldn't want that. I, I, that's a defense mechanism. But I think eventually you get to a point in your life where the pain of how you're living, you're either willing to accept and complain or endure, or you gotta change it. I wasn't born an entrepreneur.

• 21:08Speaker 02

  I just, I just didn't want to live like I was living. Like I just, the pain of it was too great. And so you learn and you, you screw up and you're bad at it, but you keep going. So to your point, yeah, it's in every, you don't have to be a great athlete. You know, we talked about Tom Brady before. I'm pretty sure Tom Brady was born with a certain physical skill set. I'm sure he worked really hard and was really determined, but to be an entrepreneur, you don't have to have any skill set. You don't have to be able to sing. You don't have to be able to dance. You don't have to have any physical ability. There's fat ones, skinny ones, good looking ones. I mean, it ranges the entire spectrum.

• 21:52Speaker 02

  The commonality is the willingness to endure pain for a greater purpose. And so if I cut you open. Do you have a greater purpose? Are you doing it to make a paycheck? Cause those things are very superficial.

• 22:10Ed Mylett?

  You're right.

• 22:10Speaker 02

  So if you wanna make a hundred grand, you're making fifty? And then you get to a hundred grand, what do you do then? You change your goals to make two hundred? It's empty.

• 22:21Ed Mylett?

  It's funny, I wonder if this is you now too. I did it in the beginning, I wanted to be rich, just like you said. But then I found out you better have a greater purpose through the dark times. Because the absence of that thing you want is going to endure for a really long time. So there have to be other reasons, right? As I've gotten a little bit older, cause you just said I don't sing or dance or anything. To some extent, and I really like it this way. My entrepreneurial journey now is almost like my art form. My form of expression, almost. In other words, I can't sing or dance, but the things that come with being an entrepreneur is sort of become like a form of expression for me. Teaching it, living it, coaching people, mentoring people. I think I see that in you though, too.

• 23:02Speaker 02

  Same. Like I find my ability to see the world and the disassociated pieces and have it come together. I think of that as an art form now. Now, do I think that, or because I'm not good at anything else, I think that? Maybe. But, listen, I always say to my wife, who's an incredible artist, I mean, thank

• 23:26Ed Mylett?

  She is, that's right.

• 23:26Speaker 02

  God, I had no talent for singing. Cause if I had even a little bit of talent, I'd be super broke but happy. Singing Eagles songs in a bar.

• 23:37Ed Mylett?

  By the way, my son's here today and I've told him all this time, I'm really, I don't have any great talent to fall back on, so I had to learn to really work hard. I mean, I think I have certain superpowers in terms of my strength or resiliency or those things. I think that's pretty good.

• 23:50Speaker 02

  What is your, what is your greatest superpower?

• 23:54Ed Mylett?

  I was gonna ask you yours, which is far more interesting than mine.

• 23:57Speaker 02

  I'm curious to see what you're gonna say.

• 24:00Ed Mylett?

  Well, I I gotta tell you, I maybe this sounds, I hope this sounds in the with the humility that I mean it to sound. I think it's my ability to connect with people and I love people, meaning whether that's one on one in this sort of environment here. Or stage, being on a stage and speaking, or being in a boardroom, or back in the day, being able to sell. I think it's my ability to connect with people and sincerely believe in them. Like I, sometimes my family will tell me one of my great strengths is how much I believe in people, see them as they're going to be. And oftentimes they'll tell me, yeah, but dad, that's not who he is right now, you know, so I think it's. I think that's probably my, I don't think I have super high IQ. I think I have pretty good EQ, though. I would say that is.

• 24:44Speaker 02

  You're very, very good with people, obviously. I mean, you're, you're very engaging.

• 24:48Ed Mylett?

  Thank you. What do you think yours is?

• 24:49Speaker 02

  Adaptability. On a hundred percent. I mean, I'm, I'm very good, but that.

• 24:54Ed Mylett?

  You are, you're tremendous with people.

• 24:55Speaker 02

  That was a skill set I had to learn because I was really bad at it. But the one thing I did have naturally, uh, just through being beaten down all the time. Was the ability to get up. And Damon and I talked about this. I think if you threw me in the middle of the jungle or in an environment that I didn't know. I'm highly confident I would survive and figure out the game. So it's not about how you do, it's about, you know, what's the, what's the Muhammad Ali saying? It's not how many times you get knocked down, it's how quickly you get up. And the amount of pain and negativity that was thrown at me when I was starting out.

• 25:40Speaker 02

  Never, I mean, affected me.

• 25:43Ed Mylett?

  Yeah.

• 25:43Speaker 02

  But it never shook me to my core. It never stopped me from getting up the next day.

• 25:48Ed Mylett?

  You never quit? You never had this impulse at some point to go, hands up, done?

• 25:52Speaker 02

  No, never. I've had. Really crappy days. I've cried. I've been in physical pain because I was so scared. But it never stopped me. And I developed this mindset because it was so hard that success wasn't about big steps. Success was one inch at a time.

• 26:20Ed Mylett?

  Yes.

• 26:20Speaker 02

  So on the days where it seemed like the world was against me, where where the pain was so great that it was physical. As long as I moved an inch.

• 26:31Ed Mylett?

  Yep.

• 26:32Speaker 02

  Like even a half inch, constant forward momentum. I've been saying that in my mind since I was twenty two years old.

• 26:40Ed Mylett?

  I love you, brother. We're kindred spirits. My book, the last book I wrote is called The Power of One More. And it's about being one more decision away, one step at a time, one day at a time. I got it from my dad. My dad got sober when I was fifteen. And remember when my dad got sober, I said, Dad, you never gonna drink again? And he said, Eddie, I can't promise you that, but I can tell you I'm not gonna drink for one more day at a time.

• 27:01Speaker 02

  Oh, my God, I love that.

• 27:02Ed Mylett?

  And when I was gonna quit once, I was gonna quit once, like all the evidence said I probably should. And my old man, wise in his sobriety. And my dad never made a ton of money in his life, but he was a confidant and a wise man. And he said, you know, just don't quit for one more day. Just wait till tomorrow.

• 27:20Speaker 02

  Yeah, it's funny. My dad was an alcoholic for many, many years. And I always remembered, and I'm the only kid. And, you know, we came here on a boat when I was eight years old, the whole nine yards.

• 27:32Ed Mylett?

  What a story.

• 27:32Speaker 02

  And I always remember my dad could never quit. And the consistency in his inability to quit was grand statements. I'm gonna stop forever.

• 27:47Speaker 02

  I'm never going to do this. Like every time it was a big gesture. And I think that got ingrained with me. When I started out in business, it'd be like, ah, we're gonna do blah. And you learn, life is not about grand gestures. Life is about consistency. It's about all the stuff that people don't see. You know, it's like, one day you wake up and you sell a business for five hundred million or ten million, whatever it is, and people think, wow. What they don't see is the eighteen years, the ten years of every little half inch of steps that took you to get there. It's hard.

• 28:32Ed Mylett?

  This is such a good conversation. By the way, just as a friend, I tell you, your face really changed when you said that about your dad.

• 28:38Speaker 02

  Oh, it was hard, man. Like, it was really, like, I think, you know, we talked about purpose. And my dad was a complex, tough guy.

• 28:48Ed Mylett?

  So was mine.

• 28:49Speaker 02

  But what I realized, somewhere in my twenties, because I started a business and it wasn't super successful, and I started getting envious. Not of others, I started getting envious of why not me? Why is that guy driving a Ferrari and not me? Why is it easier for them to get to ten million and I'm stuck at two million? The why, the envy. And then I just kind of sat back and I realized that my parents had given everything to me to have this opportunity. So when I couldn't do it for me because I wasn't focused enough,

• 29:35Speaker 02

  I said, I gotta become successful, whatever that meant then, for them. My dad escaped a communist country at thirty-seven years old with one suitcase, crossed the border to Italy, we came on a boat. He left the country with no money, didn't know anybody, and left his entire world to give me an opportunity. And there I am bitching about how hard I'm working. It just changed my entire filter. I mean, eventually you have to have

• 30:08Ed Mylett?

  Sure.

• 30:08Speaker 02

  deeper goals, but, uh, yeah.

• 30:10Ed Mylett?

  What an unbelievable answer. You have something that I love in people and I wonder if you aware that you have it and then maybe describe it your way. You are a very confident man. However, you carry a tremendous amount of humility with you. And I think it's one of the secret formulas for first off, good people and good friends. But also longevity in business. Let me tell you what I mean. You and I both know very confident people who don't have humility. They usually, they usually make a mistake at some point to blow themselves up. Financially or otherwise. Or they just don't have the sort of peace and happiness that I'd see in someone like you.

• 30:50Speaker 02

  I wouldn't agree with the first. I would definitely agree with the second. And there's a differentiation between success in business and success in life.

• 31:01Ed Mylett?

  That's what I'm referring to.

• 31:02Speaker 02

  Yeah, I know. And I think this is hard for most people because business is not always fair. I know not very nice people who are successful.

• 31:14Ed Mylett?

  Financially.

• 31:15Speaker 02

  Yes.

• 31:15Ed Mylett?

  Right.

• 31:16Speaker 02

  I know not very nice people who've built big businesses.

• 31:20Ed Mylett?

  So do I.

• 31:21Speaker 02

  And I wouldn't want to have dinner with them. I wouldn't want to hang out with them. I don't want to associate with them. I respect that one narrow part of what they've done. But it's not a successful life.

• 31:36Ed Mylett?

  That's what I mean.

• 31:37Speaker 02

  And what I'm, I always wanted to have a successful life. Which means a certain amount of money. I mean, that's just a reality in America.

• 31:45Ed Mylett?

  One of the boxes.

• 31:46Speaker 02

  Yeah, you gotta have a certain amount of money. It doesn't have to be a billion, but it can be whatever you need. But if my kids hated me or my wife didn't love me, or if I was never home. Like, why would any of that money matter?

• 32:00Ed Mylett?

  That leads me to believe we do agree. We're just, I think you thought I meant just financial success.

• 32:05Speaker 02

  I did, yeah.

• 32:05Ed Mylett?

  Yeah, and I don't, I don't. You had that mentoring when you were young about how much people, my mentor when I was young kept repeating to me because I need simple concepts. He'd say, Eddie, people matter, things don't. People matter, things don't. And it's not that having things isn't great. You and I both have a lot of things and it is cool to have things.

• 32:22Speaker 02

  It is very cool, yeah.

• 32:23Ed Mylett?

  But I have found that that's not sustaining joy for me. Sustaining joy for me is the people in that home.

• 32:29Speaker 02

  Same. It's so funny you say that because people that don't know me always think I'm about, you know, the cars because I used to race cars and I love airplanes. Like, I, I love to play.

• 32:39Ed Mylett?

  Yeah.

• 32:40Speaker 02

  But what I love more than the things is the joy of life.

• 32:45Ed Mylett?

  You do.

• 32:46Speaker 02

  Like, you know, another thing my priest said, you can wake up every day and believe everything is a miracle. Or you can wake up every day and believe nothing's a miracle. I am full of joy.

• 32:58Ed Mylett?

  You are.

• 32:58Speaker 02

  I love to play. I love my family. Like I, like I just go all the time.

• 33:05Ed Mylett?

  Yeah.

• 33:05Speaker 02

  But I think I wasn't this in my twenties or thirties. I was always full of joy, but I worked really hard to get here. Like, there's no balance for it.

• 33:18Ed Mylett?

  Yeah, and that's the question. And so I think I know what you're gonna say, but really, you know, pause for a second on this one. Is it worth it? And I know your initial reaction will be definitively yes, and maybe after some thought it will be as well. But what I mean by is it worth it is you and I are both, you know, we're not 23 anymore. It's a Saturday. We're in Boston today. We both traveled a bunch.

• 33:39Speaker 02

  Right.

• 33:39Ed Mylett?

  We're on the road a lot. There's a little scrutiny that comes with being a public person. Your phone blows up every single day, just like mine does, right? And, and so there's a lot that comes with being an entrepreneur and continuing down that journey all the way, continuing to climb the metaphorical ladder of life. Do you ever evaluate, is this worth it at this pace? Because you do seem to be very joyful and very happy. But if someone asked you that, like truly, Robert, is this all worth it? Or was there a level where it was definitely worth it to there, but maybe there's diminishing returns beyond a potential point?

• 34:15Speaker 02

  Gosh, great questions.

• 34:17Ed Mylett?

  Thank you.

• 34:19Speaker 02

  Yes, it's worth it. And I cannot not think it's worth it because I feel it would be disrespectful of me to feel that way.

• 34:33Speaker 02

  To God, to the universe, I am so fortunate to be sitting here with you. That to say, oh, it was good until here and all the goodness that came with it. But now it's not good. Like I just, I, I am so grateful for all of it. Some of it becomes uncomfortable after a certain point. Like I've been on Shark Tank or a version of Shark Tank for 22 years. My goodness. And so, sure, I go out to Fenway, 50 people want to take a picture. If I'm with my kids, is it uncomfortable? Would I want to do that? Not really. Do I do it with joy every single time?

• 35:19Speaker 02

  Yes, I do it with joy every single time. Cause I don't know what my discomfort means to that person. Right? Like it's just like, I'll tell you, the other day I did a speech in Phoenix. And you know, like you, I'm, I'm done with the speech, I'm rushing out. And as I'm leaving, the sound guy is taking my mic off. And he whispers to me, he goes, I'm really sorry, man. Like, can I get a picture? And you know, last thing you want to do is take a picture after you've just spoken to five thousand people, right? Like my adrenaline. And I'm like, and I almost feel bad. I'm like, oh, man, sure. Right? And I take a picture and the guy's got a tear in his eye. And I was like, oh, thank you so much.

• 36:04Speaker 02

  You won't, you don't know what this means to my son. Yeah.

• 36:09Speaker 02

  And as I'm like, I'm like, great, thank you. I'm literally trying to get out the door. And he says, yeah, he just had, uh, brain surgery. Oh, my gosh. And so I stop and he shows me a picture and it's this 10 year old kid. He's got half his scalp gone. He's in the hospital. So I'm like, let's call him. Oh, I love you. So we call him and you should have seen the look on this kid's face. Like, so. What did it take for me for that little level of discomfort? And what did it mean to him?

• 36:43Ed Mylett?

  Yeah.

• 36:44Speaker 02

  And so I always think of every situation like that.

• 36:47Ed Mylett?

  Yeah.

• 36:48Speaker 02

  You know, and I have friends say, oh, gosh, I wish I didn't have this much money. I wish I had less. And I'm like, it's, it's just the way you've managed your life.

• 36:57Ed Mylett?

  God bless you.

• 36:58Speaker 02

  No.

• 36:58Ed Mylett?

  I'm so glad you're who you are. This is really good for me. No, I'm serious. I'm serious. Yeah. I don't know, I've done 900 or something conversations. You and I have met, you know, everybody. I know when I'm in the presence of a really good man.

• 37:10Speaker 02

  Thank you.

• 37:11Ed Mylett?

  You're a really good man.

• 37:11Speaker 02

  Appreciate that.

• 37:12Ed Mylett?

  You're obviously very smart and have had so much success, but you're good. And you're evidence, you know, everyone that's listening or watching like, good things can happen to good people long-term.

• 37:21Speaker 02

  I do believe that. I,

• 37:25Speaker 02

  to a, to a point. People misunderstand that statement. I've always tried to be good. I've always tried to lead my life in a, from a place of goodness. What I didn't understand is just because you're good, doesn't mean you, you lose the need to be strong.

• 37:46Ed Mylett?

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• 38:31Ed Mylett?

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• 39:14Ed Mylett?

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• 39:46Speaker 02

  Just because I'm good doesn't mean that there aren't bad people out there. And I used to assume if I'm good, I don't need to protect myself against the bad. What I've learned in business is, dude, just because you're a good human being, you've got to build up your strengths physically, mentally, business-wise. And, you know, when I started my business, I was like, oh, you know, he won't compete with me. I've had people steal from my company. I've had employees leave my company, take my entire customer base. I've had people sue me, like, just like you, I'm sure. There's a lot of bad out there. It never changed who I am, but I've become stronger over the years.

• 40:30Ed Mylett?

  By the way, I just had a conversation with my daughter who's getting into business. And I said, I don't like telling you this because I used to not view the world this way. But you do need to protect yourself. You need to be vigilant and there are a lot of people that are going to try to do harm to you and hurt you, and you need to really work on your discernment. The mistake I made young, and I told my daughters, I said, and I'm not saying I'm a perfect person because lord knows I am definitively, definitely not. But I projected my own value system onto other people all the time.

• 40:58Speaker 02

  Oh my gosh, I can't believe you're saying. I just assumed that the world would treat me like the world and the way I'm treating the world.

• 41:06Ed Mylett?

  Me too.

• 41:07Speaker 02

  And for a while, I went through a phase where like, maybe I'm not mean enough. Maybe I need to change, right? And how often do people, I mean, probably not to you, but because of Kevin, people always say to me, "Oh, I couldn't be good in business because I'm not mean enough." Like, you don't have to be mean.

• 41:23Ed Mylett?

  You don't have to be mean.

• 41:24Speaker 02

  Yeah.

• 41:24Ed Mylett?

  You have to be firm.

• 41:25Speaker 02

  You have to be strong.

• 41:25Ed Mylett?

  Yep, I totally agree with that. I've enjoyed today. I'm gonna ask you one more question. This flew by, by the way, it flew by. We ought to do this like once a year together. It'd be great. We, uh, we're at a faith conference you and I are speaking at now.

• 41:38Speaker 02

  Yeah.

• 41:38Ed Mylett?

  I'm just curious, of everything in your life, if you don't mind me asking, what role or reliance have you had in your life on your faith? Has it helped you as an entrepreneur, as a father, as a husband, as a son, or any of it?

• 41:52Speaker 02

  Yeah, I mean, I, um,

• 41:56Speaker 02

  it's been a journey.

• 41:59Ed Mylett?

  Same here.

• 42:00Speaker 02

  So, I was an altar boy for many years, you were too. And I think I got to a point, because I was forced to do it, that I didn't want to do it. And then I went through a phase where I became a convenient Christian.

• 42:20Speaker 02

  Meaning, when I needed God, I was a Christian.

• 42:27Speaker 02

  But when I felt I didn't need Him, I wasn't a Christian. I mean, I was never bad, I just, my faith wavered.

• 42:39Ed Mylett?

  Yeah.

• 42:40Speaker 02

  I think over, I think I went through a really difficult time, and I got back to Christ during that. And I think it felt to me like I had nothing to give, and I had no future and no hope, and He helped me.

• 43:03Speaker 02

  And then was I going to abandon him when things got better?

• 43:08Ed Mylett?

  Wow.

• 43:09Speaker 02

  And I think it really realigned me and brought me back to that foundation that I've always had. So I have a lot of faith. I mean, I never tried to force my faith on others, but I also don't let others undermine my faith.

• 43:31Ed Mylett?

  Bro, we're so many similarities.

• 43:33Speaker 02

  I can't believe you're an altar boy, really?

• 43:35Ed Mylett?

  Yeah, yeah, yeah, I'm just pondering, in this town, by the way, I was, pondering, a lot of the things you said today, so much depth with you. I, I really do hope we do this more than another, you know, more than just today, because I really enjoyed it, it was good for me.

• 43:50Speaker 02

  Oh, I appreciate you saying that.

• 43:52Ed Mylett?

  Yeah, it really was good for me.

• 43:54Speaker 02

  You have such a great platform.

• 43:56Ed Mylett?

  Thank you.

• 43:56Speaker 02

  For hope.

• 43:58Ed Mylett?

  Thank you.

• 43:58Speaker 02

  I think what I love about your platform is that you give people real guidance and hope.

• 44:07Ed Mylett?

  Thank you.

• 44:07Speaker 02

  Because I think a lot of people try to talk down on business.

• 44:12Ed Mylett?

  Yeah.

• 44:13Speaker 02

  With a not reality, it's easy and look at this and look at all the stuff you could get. But I think your platform is all about guidance and hope, and I think anybody can do it.

• 44:23Ed Mylett?

  Thank you, I named our place here Hope Island.

• 44:26Speaker 02

  You did?

• 44:26Ed Mylett?

  For that reason, I want to bring hope to the world. I mean, this is like a really synergistic conversation here today, bro.

• 44:31Speaker 02

  Would your kids say that you're a motivating person?

• 44:37Ed Mylett?

  That's a great question, one of them's here, what would you say? Be honest.

• 44:40Speaker 02

  Definitely, yes.

• 44:41Ed Mylett?

  Definitely, well, you see, he said yes, but why?

• 44:44Speaker 02

  Why are you a motivating person? I see how you transform others and how you always carry yourself.

• 44:50Ed Mylett?

  Thank you.

• 44:50Speaker 02

  Oh, my gosh. How you motivate is what I want to be like and how you carry yourself and serve others.

• 44:56Ed Mylett?

  Thank you.

• 44:57Speaker 02

  Okay, that's success.

• 44:59Ed Mylett?

  Agreed.

• 45:00Speaker 02

  So.

• 45:00Ed Mylett?

  Would your kids say that?

• 45:02Speaker 02

  My kids are seven.

• 45:02Ed Mylett?

  I know they're little.

• 45:03Speaker 02

  So the greatest moment I've had in the last few years, so my son's seven, he's got ADHD, he has a very difficult time with anxiety. So I was doing a speech in Vegas and out of the blue, I said, you're coming with me. So he put on a jacket.

• 45:19Ed Mylett?

  Yeah.

• 45:20Speaker 02

  Hopped on the plane. We went to Vegas. You know what? It's like everybody wants to meet you and big crowds were hard for him. He had to sit in the crowd with thousands of people, sat there for an hour. And then afterwards, there was like a photo line. It was chaotic, like it always is, which is really hard for him to stay focused.

• 45:38Ed Mylett?

  Sure.

• 45:39Speaker 02

  Through it all, he comes up to me and he puts his hands on me and he says, Daddy, I'm so proud of you.

• 45:46Ed Mylett?

  Oh, gosh.

• 45:47Speaker 02

  I mean, I was like.

• 45:49Ed Mylett?

  Hi, my, hi, my hero. It's no better than that.

• 45:52Speaker 02

  Because I think if you, it's, it's the consistency of character.

• 45:57Ed Mylett?

  Agreed.

• 45:57Speaker 02

  Right?

• 45:58Ed Mylett?

  Agreed.

• 45:58Speaker 02

  Your son thinks you're motivating. I think you're motivating. It's not because you're putting on an act. It's the consistency of your character.

• 46:06Ed Mylett?

  Thank you, and I think you're motivating. So good today. Anything you want to promote? Anyone you want to send them?

• 46:11Speaker 02

  No. Visit Australia. It's a great country. I don't know.

• 46:15Ed Mylett?

  Well, at least go follow him on Instagram if you're not. I feel like there's probably a pretty big overlap between our worlds. So I'm sure most of them do, but please go follow Robert. Thank you for today.

• 46:23Speaker 02

  Thank you.

• 46:24Ed Mylett?

  It's tremendous. All right, everybody. I don't think I have to ask you to share this one. I'm pretty sure this one's getting shared everywhere. So God bless you. Max out your life.

• 46:36Speaker 03

  This is the Ed and Myron Show.

• 46:43Speaker 04

  Booking.com is the easiest way from a day surrounded by noise

• 46:55Speaker 04

  to a stay

• 46:58Speaker 04

  surrounded by nature.

• 47:02Speaker 04

  That's nice.

• 47:05Speaker 04

  Go on, book it. It's easy. Booking.com. Booking dot, yeah.

• 47:12Speaker 05

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