Podcast Summary: The School of Greatness
Episode: Robert Herjavec: “This Mindset Took Me From Poverty To Multimillionaire”
Host: Lewis Howes
Release Date: February 5, 2025

In this compelling episode of The School of Greatness, host Lewis Howes engages in an in-depth conversation with Robert Herjavec, a renowned entrepreneur, Shark Tank star, and multimillionaire. The discussion navigates through Robert's remarkable journey from a challenging immigrant childhood to his rise as a successful business leader, emphasizing the pivotal mindset shifts that fueled his ascent.

1. Early Life and Overcoming Adversity

Background and Immigration Struggles (00:04 - 10:00)
Robert Herjavec opens up about his early life, describing the hardships his immigrant parents faced when they arrived in Canada with virtually nothing. He recounts living in poverty, moving between schools, and facing bullying due to language barriers and financial struggles.

“Poverty wasn't my mindset, and I think that's a big difference. My mindset was Joy, really.”
— Robert Herjavec [08:25]

Despite the severe economic challenges, Robert maintained a positive outlook, finding joy in everyday moments and not labeling himself as poor but rather viewing poverty as a situational challenge. This foundational mindset set the stage for his future success.

2. Mindset Shift: From Hard Work to Smart Work

Understanding Poverty vs. Wealth Mindset (10:00 - 17:04)
The conversation delves into the distinction between a poverty mindset and a wealth or abundance mindset. Robert emphasizes that believing in abundance requires shifting one’s perspective from external circumstances to internal empowerment.

“Sales people always think I'm wealthy because I'm really good at computers. But I'm not wealthy because of my knowledge of a task. I'm wealthy because of my knowledge of sales and how to get, how to sell what I'm doing to other people.”
— Robert Herjavec [17:04]

He highlights the importance of sales skills and the ability to provide value, rather than merely trading time for money, as crucial components in transitioning from poverty to wealth.

3. Sales Mastery and Customer-Centric Approach

Sales Philosophy and Early Experiences (17:04 - 24:00)
Robert shares his early experiences in sales, working part-time for Harry Rosen, a legendary menswear retailer in Canada. He recounts how honest feedback and a genuine desire to improve led him to excel in sales by focusing on creating value for customers rather than just pushing products.

“People will pay for value, not for time. People will pay you for your knowledge, not for how long you've been doing it or the amount of hours you're going to spend on it.”
— Robert Herjavec [43:25]

This customer-centric approach became a cornerstone of his business strategy, ultimately leading to the successful sale of his first company to AT&T for $32 million.

4. Faith, Purpose, and Overcoming Personal Challenges

Struggles with Faith and Personal Crisis (53:30 - 60:53)
A poignant segment of the conversation addresses Robert’s personal struggles, including a severe downturn in 2014 marked by a difficult divorce and depression. He shares how reconnecting with his faith and serving the homeless provided a transformative experience that reignited his sense of purpose and joy.

“I spent the first couple of weeks at the mission, then I got a hotel and it was absolutely transformational.”
— Robert Herjavec [56:45]

This period of adversity reinforced the importance of faith, community service, and self-worth beyond financial success.

5. Redefining Greatness and Legacy

Personal Definitions of Greatness (72:51 - 74:06)
Towards the end of the episode, Robert and Lewis explore their personal definitions of greatness. Robert articulates that greatness is about fulfilling one’s potential and empowering others, rather than merely accumulating wealth or accolades.

“My definition of greatness would be fulfillment of potential. Those that have been given more need to find greater purpose.”
— Robert Herjavec [74:05]

Lewis Howes echoes similar sentiments, emphasizing the impact one has on their immediate surroundings and the importance of living out one’s unique talents and gifts.

6. Key Takeaways and Final Insights

Lessons on Discipline, Curiosity, and Expertise (26:14 - 30:53)
Robert outlines the top three lessons he has learned from billionaires:

1. Absolute Expertise: Being exceptionally skilled in a narrow area.
2. Curiosity: Maintaining a relentless desire to learn and solve problems.
3. Discipline: Applying consistent discipline across all areas of life, including business, fitness, and personal growth.

“Markets and people will pay for value, not for time. People will pay you for your knowledge.”
— Robert Herjavec [43:25]

7. Embracing Joy and Empowerment

The Essence of Joy and Empowerment (69:45 - 70:07)
Robert emphasizes that joy is essential for a fulfilling life and that true empowerment comes from helping others achieve their potential.

“Without joy there is no life like there. There is no misery in, you know, there is no wealth in misery.”
— Robert Herjavec [69:45]

He reinforces the idea that achieving wealth without happiness leads to an empty existence, underscoring the importance of balancing success with personal fulfillment.

Conclusion

Robert Herjavec’s narrative is a testament to the power of mindset, resilience, and the relentless pursuit of personal and professional growth. From his humble beginnings to his status as a multimillionaire, his journey underscores that true wealth encompasses not only financial success but also joy, purpose, and the empowerment of others. This episode serves as an inspiring roadmap for aspiring entrepreneurs and individuals seeking to transform their lives by cultivating an abundance mindset and prioritizing meaningful connections.

Notable Quotes:

• “Poverty wasn't my mindset, and I think that's a big difference. My mindset was Joy, really.”
  — Robert Herjavec [08:25]

• “Sales people always think I'm wealthy because I'm really good at computers. But I'm not wealthy because of my knowledge of a task. I'm wealthy because of my knowledge of sales and how to get, how to sell what I'm doing to other people.”
  — Robert Herjavec [17:04]

• “Markets and people will pay for value, not for time. People will pay you for your knowledge.”
  — Robert Herjavec [43:25]

• “Without joy there is no life like there. There is no misery in, you know, there is no wealth in misery.”
  — Robert Herjavec [69:45]

• “My definition of greatness would be fulfillment of potential. Those that have been given more need to find greater purpose.”
  — Robert Herjavec [74:05]

This episode offers invaluable insights into the mind of a successful entrepreneur who not only achieved financial success but also found deeper meaning and joy along the way. Whether you're an aspiring business owner or someone seeking personal growth, Robert Herjavec’s story provides actionable lessons and profound inspiration.