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The Truth About Success No One Told You — Shark Tank’s Robert Herjavec Reveals It All · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding of professionals
• 0:10
  Speaker 1: routine shows us how they achieve their success little by little,
• 0:14
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• 0:18
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  Speaker 1: what helps you live or more happily fulfilled life. P
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• 0:39
  Speaker 1: National Association Member FDIC.
• 0:43
  Speaker 2: I like that.
• 0:43
  Speaker 1: I like that such it's about the money. This is
• 0:46
  Speaker 1: another vote for the live band. Clap it up with
• 0:48
  Speaker 1: the live van.
• 0:49
  Speaker 3: Y'all.
• 0:52
  Speaker 2: This is elevated. It feels like prime time.
• 0:54
  Speaker 3: This is prime Tom. This is beautiful. How's everybody doing?
• 0:57
  Speaker 3: Feeling good?
• 1:00
  Speaker 4: So we have your favorite shark tank shark. Yeah, we've
• 1:06
  Speaker 4: interviewed with a few sharks already.
• 1:08
  Speaker 1: Yeah, we've gone down the list of sharks. We started
• 1:10
  Speaker 1: out with Mark Cuban. Everybody you know Mark Cuban. Of course,
• 1:14
  Speaker 1: we had our good friend of our Damon John. I'll
• 1:17
  Speaker 1: be honest with you, our favorite, Well, probably today's gonna
• 1:20
  Speaker 1: pass it. But Barbara Cochran was amazing. Clap it up
• 1:23
  Speaker 1: with Barbara. But there's one guy who conds and resonates
• 1:28
  Speaker 1: with us a little bit. You know, the way he
• 1:30
  Speaker 1: carries himself, the way he dresses, the way he conducts himself,
• 1:34
  Speaker 1: and when he talks about marketing.
• 1:36
  Speaker 3: And that's Robert. Her Jane and I hope you're excited,
• 1:44
  Speaker 3: because we're excited.
• 1:45
  Speaker 1: This is the first time we're getting to talk to him,
• 1:47
  Speaker 1: and we got a lot of questions and we're gonna
• 1:49
  Speaker 1: do it from the entrepreneurial mindset. How many entrepreneurs in here? Oh,
• 1:54
  Speaker 1: this is great, we know a thing or two about that.
• 1:56
  Speaker 2: Huh sure for sure?
• 1:57
  Speaker 4: All right, Well, without further to do, list, queue it
• 2:00
  Speaker 4: up for Robert and let's uh, let's get it going.
• 2:16
  Speaker 5: I was born in Gratia. I think what makes me
• 2:18
  Speaker 5: different than the other Sharks is I'm an actual immigrant.
• 2:21
  Speaker 5: That shapes a lot of how I think and who
• 2:24
  Speaker 5: I am.
• 2:25
  Speaker 6: There is no certain day in life.
• 2:26
  Speaker 5: My dad came here at thirty seven on the boat
• 2:28
  Speaker 5: didn't even speak the language. What I look for is
• 2:31
  Speaker 5: people that can land on their feet and adapt.
• 2:35
  Speaker 6: So you have a great degree.
• 2:36
  Speaker 5: Harvard sendsraally fancy, but you missed one school. You didn't
• 2:40
  Speaker 5: go to the school of hard knocks.
• 2:42
  Speaker 6: Well, the matters is that the world becomes a better
• 2:45
  Speaker 6: place to live.
• 2:45
  Speaker 5: The world cannot become a better place to live if
• 2:48
  Speaker 5: you don't contribute to it.
• 2:49
  Speaker 6: There is no rearview mirror in my life. You gotta
• 2:53
  Speaker 6: let go. This is the deal in front of you
• 2:54
  Speaker 6: right now.
• 2:57
  Speaker 5: Let's go.
• 2:57
  Speaker 6: Are you breathing.
• 3:00
  Speaker 5: Question?
• 3:04
  Speaker 6: Freedom is the ability to control your own life.
• 3:06
  Speaker 5: No one can fire you, no one's gonna tell you
• 3:08
  Speaker 5: what to do.
• 3:09
  Speaker 6: It's all up to you. I'd like to be part
• 3:14
  Speaker 6: of the journey.
• 3:15
  Speaker 5: If you're gonna dream, let's dream big, baby.
• 3:20
  Speaker 3: I told you about the style.
• 3:21
  Speaker 2: Right.
• 3:23
  Speaker 5: Hey, everybody, thanks for having me. How great is the band?
• 3:28
  Speaker 5: You guys are killing it?
• 3:30
  Speaker 2: Give it up for the band, all right?
• 3:36
  Speaker 5: All right?
• 3:37
  Speaker 2: If you guys are excited for this conversation, make some
• 3:39
  Speaker 2: noise for sure. So Robert, let's get into it.
• 3:45
  Speaker 4: So you know your journey as far as being an
• 3:47
  Speaker 4: immigrant come into this country, being extremely successful in business,
• 3:51
  Speaker 4: what my set shifts, if any, did you have to
• 3:54
  Speaker 4: make to kind of have the success that you've had
• 3:58
  Speaker 4: the United States of America.
• 4:01
  Speaker 5: You know, we sharks always talk about this, like what
• 4:06
  Speaker 5: makes one person successful and another one not successful. I
• 4:11
  Speaker 5: remember one night we were having dinner with Mark Cuban
• 4:15
  Speaker 5: and we got into this topic, like I said, Mark,
• 4:18
  Speaker 5: when you were twelve years old, did you know you
• 4:23
  Speaker 5: were going to be successful? And Mark said yes, I
• 4:28
  Speaker 5: knew I was going to be very wealthy and I
• 4:31
  Speaker 5: was going to buy a basketball team one day. And
• 4:35
  Speaker 5: I remember how much that affected me, because at twelve
• 4:39
  Speaker 5: years old, I just didn't want to be poor. And
• 4:45
  Speaker 5: so this mindset of fear and simply getting by is
• 4:52
  Speaker 5: what I had to change. I think, if you're going
• 4:55
  Speaker 5: to build a great business, or you're going to do
• 4:56
  Speaker 5: anything great in life, you have to have the ability
• 5:01
  Speaker 5: to believe in yourself. And most people have this fear
• 5:06
  Speaker 5: what if I don't make it? What if people make
• 5:09
  Speaker 5: fun of me? Especially as an immigrant. You know, people
• 5:11
  Speaker 5: are always making you feel less than you are. And
• 5:16
  Speaker 5: I think that was the big mind shift for me
• 5:19
  Speaker 5: because I wasn't born like that. I wasn't born Mark Cuban,
• 5:24
  Speaker 5: I wasn't born confident. When I was twenty, I was
• 5:27
  Speaker 5: afraid of my own shadow. I couldn't speak in front
• 5:30
  Speaker 5: of a group of people, and so that was really
• 5:34
  Speaker 5: hard for me to get out of that shell.
• 5:37
  Speaker 1: You spoke about something that I'm sure that everybody can
• 5:39
  Speaker 1: resonate in here, and that's that idea of like, I
• 5:42
  Speaker 1: just don't want to be poor. And so when people
• 5:45
  Speaker 1: go into business, and a lot of people here are entrepreneurs,
• 5:49
  Speaker 1: the first thing they think is how can I make money?
• 5:52
  Speaker 1: And I think that's kind of a mind shift, that
• 5:54
  Speaker 1: mindset shift that we need to change. One of the
• 5:57
  Speaker 1: things we recognized earlier was money wasn't the goal, it
• 6:00
  Speaker 1: was really the value. Talk about how you have to
• 6:03
  Speaker 1: have that mindset shift, because if you're going into just
• 6:07
  Speaker 1: trying to make money and then you don't, then you
• 6:09
  Speaker 1: give up on it.
• 6:10
  Speaker 5: Yeah, I'm going to disagree with you just a little bit.
• 6:14
  Speaker 5: Just a little bit. I think there's two phases of
• 6:19
  Speaker 5: starting a business, just reality. I think the first phase
• 6:24
  Speaker 5: is survival. I think a lot of people start a
• 6:28
  Speaker 5: business to get out of a condition therein, or at
• 6:32
  Speaker 5: least I did. I just wanted to start my business
• 6:34
  Speaker 5: in order to make enough money to pay my mortgage
• 6:38
  Speaker 5: and maybe path my house one day. I mean, my
• 6:40
  Speaker 5: dream was to make one thousand dollars for my life.
• 6:44
  Speaker 5: So if I was fifty, to make fifty grand a year,
• 6:48
  Speaker 5: buy a used corvette and maybe path part of my
• 6:52
  Speaker 5: house one day, because that's something my parents had never done.
• 6:57
  Speaker 5: So in the realm of my ability to dream, that
• 7:01
  Speaker 5: was man, that was it. But to your point, I
• 7:05
  Speaker 5: did that. And then if you do that and your
• 7:09
  Speaker 5: goals are really small, you look around and you realize
• 7:14
  Speaker 5: it's pretty empty. Because if you're only doing it for
• 7:17
  Speaker 5: the money and you have some level of success, you're
• 7:22
  Speaker 5: going to get very lonely. Money doesn't keep you warm
• 7:25
  Speaker 5: at night. Money doesn't inspire you to keep going. So
• 7:29
  Speaker 5: when you make a million, if that was your goal,
• 7:32
  Speaker 5: what makes you go to ten million or twenty million,
• 7:35
  Speaker 5: or a hundred or a billion? And I think eventually
• 7:38
  Speaker 5: you have to have a great purpose. Eventually you have
• 7:41
  Speaker 5: to look at yourself and say, all right, forget the money.
• 7:45
  Speaker 5: Why am I working my ass off twenty hours a day,
• 7:50
  Speaker 5: not getting into sleep, sacrificing everything? What's my why in
• 7:56
  Speaker 5: doing it?
• 7:57
  Speaker 4: So for entrepreneurs, I'm sure everybody watches Shark Tank. And
• 8:01
  Speaker 4: you know, when people come in front of you, guys,
• 8:03
  Speaker 4: you asked them a lot of questions as far as
• 8:04
  Speaker 4: their profit margin and addressable market, their marketing plan, all
• 8:09
  Speaker 4: that stuff. What do you think is the key, the
• 8:12
  Speaker 4: number one thing as far as on a business bottom
• 8:16
  Speaker 4: line that entrepreneurs needs to focus on and completely understand
• 8:20
  Speaker 4: fully in their business.
• 8:22
  Speaker 5: Wow, that's a great question. I think. Uh, First of all,
• 8:26
  Speaker 5: every business is slightly different. I think everybody out here
• 8:31
  Speaker 5: who has a business, you have to figure out what
• 8:35
  Speaker 5: the heartbeat of that business is, and it's different for
• 8:39
  Speaker 5: every business. So I know in my business, I had
• 8:43
  Speaker 5: to know what the recurring revenue was, what our margin was,
• 8:47
  Speaker 5: and what our cash flow was on a daily basis.
• 8:51
  Speaker 5: So if you woke me up at two o'clock in
• 8:53
  Speaker 5: the morning and said, what was the cash flow from yesterday?
• 8:56
  Speaker 5: I could tell you that. Now I couldn't tell you
• 8:59
  Speaker 5: a bunch of other things things because they have to
• 9:01
  Speaker 5: learn along the way. But I think you have to
• 9:04
  Speaker 5: figure out what the heartbeat of your business is, and
• 9:07
  Speaker 5: it's usually only two or three things. You know, people
• 9:10
  Speaker 5: make the mistake of trying to do too much, But
• 9:14
  Speaker 5: there's two or three things that advanced the ball every
• 9:18
  Speaker 5: single day. It's not about maintaining. It's about growth, and
• 9:23
  Speaker 5: one are the things that are growing your business.
• 9:27
  Speaker 1: You talked about fear just earlier, and a lot of
• 9:30
  Speaker 1: people have that fear and they start to question the why.
• 9:33
  Speaker 3: Right. I wonder, at what point did you realize this
• 9:36
  Speaker 3: is my why?
• 9:37
  Speaker 1: Because sometimes people get passion and purpose confused and that
• 9:40
  Speaker 1: could sometimes be hurtful in business.
• 9:42
  Speaker 3: When did you discover the why?
• 9:45
  Speaker 2: Oh?
• 9:45
  Speaker 5: Man, that's such a great point. And I think that's
• 9:48
  Speaker 5: such an individual thing for everybody, and I think I
• 9:52
  Speaker 5: was very fortunate to figure that out really early, because
• 9:58
  Speaker 5: I think a lot of people don't. They kind of
• 10:01
  Speaker 5: drift along and fear can be all consuming. Everybody in
• 10:07
  Speaker 5: this room is going to wake up one day and
• 10:10
  Speaker 5: have a crappy day and question why am I doing this?
• 10:14
  Speaker 5: Why is this so hard?
• 10:15
  Speaker 2: Why?
• 10:16
  Speaker 5: Why isn't it easy for me? So for me, I
• 10:20
  Speaker 5: started my first business, and you know, man, I'm working
• 10:25
  Speaker 5: like eighteen hours a day. I'm not making enough money
• 10:29
  Speaker 5: in my business to support myself. So I'm working nine
• 10:33
  Speaker 5: to five at the business. I'm waking up at five
• 10:36
  Speaker 5: in the morning to read about cybersecurity because I'm not
• 10:39
  Speaker 5: an engineer, and I'm competing with engineers. And then from
• 10:43
  Speaker 5: eight at night till one in the morning, I'm working
• 10:46
  Speaker 5: as a waiter to make enough cash to pay my rent.
• 10:50
  Speaker 5: And I'm doing this every day. And I come home
• 10:52
  Speaker 5: one day and I'm like, this sucks. And I go,
• 10:59
  Speaker 5: this is really hard. And my mom is in the
• 11:03
  Speaker 5: room and I'm telling her how hard it is, and
• 11:07
  Speaker 5: woe is me? My life sucks? And my dad comes home.
• 11:16
  Speaker 5: He's working at the factory sweeping floors, and he comes
• 11:20
  Speaker 5: home to take a shower and get some food before
• 11:27
  Speaker 5: he goes back to the factory to work a second
• 11:30
  Speaker 5: shift to pay for them to exist. And I look
• 11:36
  Speaker 5: at him and I say, I will never in my
• 11:41
  Speaker 5: lifetime work as hard as that man is working right now.
• 11:48
  Speaker 5: And that was it. And what I realized is they
• 11:52
  Speaker 5: gave up everything thirty seven years old. They came to
• 11:58
  Speaker 5: a foreign country, didn't speak the language, didn't know anybody.
• 12:03
  Speaker 5: We leave in someone's basement for eighteen months in order
• 12:09
  Speaker 5: to give me an opportunity. How do I then not
• 12:16
  Speaker 5: acknowledge and justify that sacrifice? And that was my why?
• 12:20
  Speaker 5: And I realized, stop complaining. Nobody cares nobody cares, and
• 12:27
  Speaker 5: from that moment on, like customers would say to me, Robert,
• 12:30
  Speaker 5: how you doing today? And I'm a pretty happy guy
• 12:33
  Speaker 5: ninety percent of the time, But everybody in this room
• 12:36
  Speaker 5: has a crappy day where you don't feel good and
• 12:39
  Speaker 5: something's going wrong. My customers ask me, Robert, how are
• 12:43
  Speaker 5: you doing today? You know how I'm doing one hundred
• 12:45
  Speaker 5: percent of the time. I'm wonderful because I get the
• 12:49
  Speaker 5: opportunity to live out my dreams. And somebody gave up
• 12:55
  Speaker 5: everything in their life to give me that opportunity. So
• 13:00
  Speaker 5: if you're not going to if I'm not willing to
• 13:02
  Speaker 5: work hard enough for me, I'd better be willing to
• 13:05
  Speaker 5: work hard enough for them.
• 13:12
  Speaker 4: I believe one time you said, strategy without structure is
• 13:16
  Speaker 4: just a wish. So can you explain that because a
• 13:19
  Speaker 4: lot of people put together the business strategy quarterly or
• 13:23
  Speaker 4: at the beginning of the year. But how talk about
• 13:26
  Speaker 4: the structure part of that and even for your personal routine,
• 13:30
  Speaker 4: like how do you how discipline are you in making
• 13:33
  Speaker 4: sure that the strategy goes from idead ideation?
• 13:38
  Speaker 5: Man, great question again, So I think it's fluid. I
• 13:44
  Speaker 5: think everybody in the room has a business realizes there's
• 13:48
  Speaker 5: a lot of fluidity in business. Everything you think is
• 13:51
  Speaker 5: going to happen, it's probably going to happen differently. So
• 13:55
  Speaker 5: most businesses controlled chaos. And strategy is really important, and
• 14:03
  Speaker 5: planning is really important, and scale is really important, but
• 14:08
  Speaker 5: execution is better. I think too many people make really
• 14:16
  Speaker 5: well laid plans and they are kind of like deer
• 14:19
  Speaker 5: in the headlights when their plan doesn't work out. I
• 14:22
  Speaker 5: love that Mike Tyson quote. Right, everybody has a plan
• 14:25
  Speaker 5: until they get hit in the face. Running a business
• 14:29
  Speaker 5: is getting hit in the face every day. So I
• 14:32
  Speaker 5: think if you're running a business, it's chaos. You have
• 14:36
  Speaker 5: to execute every day. But eventually you get to a
• 14:41
  Speaker 5: point where if you're the one executing on everything, and
• 14:47
  Speaker 5: and I went through this, I used to you know,
• 14:48
  Speaker 5: one of the things I used to say is I'm
• 14:50
  Speaker 5: the best salesman in my company, and I'm the best
• 14:53
  Speaker 5: this in my company. Then one day I realized, if
• 14:56
  Speaker 5: I'm the best i me and my company, how am
• 15:00
  Speaker 5: I ever going to grow? Who's ever going to buy
• 15:03
  Speaker 5: this business? So eventually you have to get to a
• 15:06
  Speaker 5: point where you shift from being the best doer to
• 15:12
  Speaker 5: being the best enabler. And if if you want to
• 15:16
  Speaker 5: build a five million dollar business, ten million dollar business,
• 15:20
  Speaker 5: you go out there and be the best everything in
• 15:23
  Speaker 5: your company. You want to build one hundred million dollar business,
• 15:27
  Speaker 5: you better be a great leader and a great enabler,
• 15:30
  Speaker 5: because your number one job becomes making others successful.
• 15:35
  Speaker 4: He can't just go a little bit into that because enable.
• 15:38
  Speaker 4: I feel like enabler has a bad connotation to it.
• 15:41
  Speaker 5: Yeah, you're right, that was a bad word.
• 15:44
  Speaker 4: But I mean, I guess it can be good too,
• 15:47
  Speaker 4: right as far as like you know, just well nurturing,
• 15:50
  Speaker 4: nurturing people on their journey to kind of oversee it.
• 15:54
  Speaker 5: Somewhere along the way, I realized I've got to amplify me, right,
• 15:59
  Speaker 5: Like I have to leverage and make more of the
• 16:03
  Speaker 5: things that I'm not good at. And you know, it
• 16:08
  Speaker 5: gets easier in some ways where you get bigger, the
• 16:12
  Speaker 5: dynamicism and the energy becomes harder the bigger you get.
• 16:15
  Speaker 5: I mean, my last company at the end, we had
• 16:19
  Speaker 5: you know, twelve hundred employees. And so I get in
• 16:22
  Speaker 5: the elevator and I'd be like, does this person work
• 16:26
  Speaker 5: for me? Do I like, should I know who they are?
• 16:29
  Speaker 5: And that was odd for me because in my company,
• 16:31
  Speaker 5: I knew everybody like we were like whoa one team go.
• 16:36
  Speaker 5: But when you're starting out, you can't afford to hire
• 16:39
  Speaker 5: somebody with five years of experience in marketing. So instead
• 16:43
  Speaker 5: of hiring for experience, you hire for aptitude. And you've
• 16:51
  Speaker 5: got to look at those people and say, what are
• 16:53
  Speaker 5: they missing to make them great? How can I teach
• 17:00
  Speaker 5: lead give them the experience to become better at marketing
• 17:05
  Speaker 5: than I am or somebody who had the experience. You know,
• 17:09
  Speaker 5: when you have money, you hire for experience with aptitude.
• 17:13
  Speaker 5: When you don't have money, you hire incredible aptitude and
• 17:18
  Speaker 5: give them the experience.
• 17:21
  Speaker 3: That was a jewel.
• 17:23
  Speaker 1: That was a jewel I'm looking out and the shark
• 17:26
  Speaker 1: ting theme. It was speaking to me when we walked in.
• 17:29
  Speaker 3: I'm soory. Everybody that walked in recognized it as well.
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• 17:39
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• 19:31
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• 19:34
  Speaker 5: Yeah, it's such a great point. You know, why does
• 19:37
  Speaker 5: Shark Tank work? Because you would think you're gonna launch
• 19:42
  Speaker 5: a business show that's gonna entertain Also, let's get a
• 19:48
  Speaker 5: bunch of celebrities. Wouldn't that be your knee jerk reaction.
• 19:53
  Speaker 5: Let's get a bunch of celebrities that are entertaining and interesting.
• 19:57
  Speaker 5: But to the incredible credit of our producers and the
• 20:01
  Speaker 5: people that put on Shark Tank, they didn't do that.
• 20:05
  Speaker 5: They got authentic, real business people and when you see
• 20:10
  Speaker 5: the show, it's really us. I mean Barbara not being
• 20:15
  Speaker 5: able to do math. That's really Barbara. You know, Kevin
• 20:20
  Speaker 5: calling somebody a cockroach. I've been at dinner where he's
• 20:25
  Speaker 5: called people a cockroach. I mean, it's really him, and
• 20:30
  Speaker 5: so it's very, very authentic, and I think that's why
• 20:34
  Speaker 5: the show works. We are not actors, We are not scripted.
• 20:39
  Speaker 5: When we get mad, when we get excited about something,
• 20:43
  Speaker 5: we're mad and we're excited. And you know, to your point,
• 20:48
  Speaker 5: you cannot fake authenticity on a long term basis. You
• 20:54
  Speaker 5: can spike authenticity, you can go viral once for some
• 21:00
  Speaker 5: BS thing you did or you staged. But consumers today
• 21:04
  Speaker 5: are too smart and they see through that. Some of
• 21:07
  Speaker 5: the best investments we've had on the show that I've had,
• 21:10
  Speaker 5: sand Cloud, Tipsy Elves, I mean, these people are so authentic,
• 21:16
  Speaker 5: it's in their blood. Everybody in this room is great
• 21:23
  Speaker 5: at something. Greatness doesn't come from you changing who you are.
• 21:32
  Speaker 5: Greatness comes from discovering what it is that you bring
• 21:39
  Speaker 5: to this world that nobody else can and leveraging that.
• 21:49
  Speaker 4: The biggest topic of discussion right now is artificial intelligence.
• 21:52
  Speaker 4: So I'm interested to hear your take on how you're
• 21:57
  Speaker 4: currently using AI for your companies and any advice for
• 22:00
  Speaker 4: entrepreneurs that may be a little intimidated or they don't
• 22:03
  Speaker 4: fully understand, they're not fully educated on AI.
• 22:09
  Speaker 5: So let me start by saying AI is the greatest
• 22:13
  Speaker 5: technological shift in everybody in this room's lifetime. If you
• 22:17
  Speaker 5: don't think that, you've got the wrong mindset, so you
• 22:23
  Speaker 5: have to run to AI, not walk or dottle or
• 22:28
  Speaker 5: go gingerly into the night. You have to sprint towards AI.
• 22:33
  Speaker 5: And if you don't know about AI, go to YouTube
• 22:38
  Speaker 5: University and learn everything you can about AI. So it
• 22:44
  Speaker 5: is going to change the dynamics of everything we do.
• 22:48
  Speaker 5: First of all, the simplest application of AI for any
• 22:52
  Speaker 5: business is taking any redundant task and changing it with AI.
• 22:59
  Speaker 5: So if you have a customer service business and you
• 23:03
  Speaker 5: want to hire more people to do customer service, one
• 23:06
  Speaker 5: of your competitors is hiring less people and using AI
• 23:11
  Speaker 5: to do customer service. If you're doing logistics with human
• 23:15
  Speaker 5: beings and you've got people doing simple tasks, that's going
• 23:20
  Speaker 5: to be replaced by AI. And it's not about getting
• 23:23
  Speaker 5: rid of people or laying people off. It's about upscaling
• 23:28
  Speaker 5: your workforce to do higher value tasks. The one task
• 23:34
  Speaker 5: that AI will never get rid of is human interaction.
• 23:38
  Speaker 5: So the one thing we're always telling about our businesses.
• 23:41
  Speaker 5: You know, in Disney has a great saying every time
• 23:44
  Speaker 5: you touch a client in a physical interaction or an
• 23:50
  Speaker 5: online interaction, they call those moms moments of magic. Because
• 23:57
  Speaker 5: every client interaction or a can consumer interaction is an
• 24:02
  Speaker 5: opportunity to create magic. So use human beings to create
• 24:10
  Speaker 5: that magic, because that's what we're really good at. We're
• 24:14
  Speaker 5: really good at relationships and talking to each other. AI
• 24:18
  Speaker 5: is not going to replace you, guys. It's not going
• 24:20
  Speaker 5: to replace me. But if you have somebody typing into
• 24:24
  Speaker 5: a keyboard every day repetitive tasks, that's going to go away.
• 24:29
  Speaker 5: And then the third part of it is how can
• 24:32
  Speaker 5: I feed AI to give me creativity in my business.
• 24:37
  Speaker 5: A good friend of mine is an e commerce online expert.
• 24:40
  Speaker 5: He does about six hundred million a year. He just
• 24:43
  Speaker 5: saw product slippers that are trending well online. So he
• 24:48
  Speaker 5: used AI and created in two hours an entire video
• 24:53
  Speaker 5: to promote it and then put it out there and
• 24:56
  Speaker 5: is selling it. I mean you can do that with
• 24:59
  Speaker 5: your business us absolutely.
• 25:02
  Speaker 1: I like that you said you got to run swort
• 25:04
  Speaker 1: it because most people think, yes, we have to use it.
• 25:07
  Speaker 3: And it's funny.
• 25:08
  Speaker 1: I just heard of lat enf said ten years ago,
• 25:11
  Speaker 1: every company that is a publicly traded company is a
• 25:15
  Speaker 1: tech company because it needs a tech component. This week
• 25:18
  Speaker 1: he said every company will be an AI company in
• 25:21
  Speaker 1: the next five years.
• 25:22
  Speaker 5: So true.
• 25:23
  Speaker 1: The other part of AI is the protection of it.
• 25:26
  Speaker 1: And that's kind of a sweet why for you, because
• 25:28
  Speaker 1: cybersecurity is something that is going to be vastly needed
• 25:31
  Speaker 1: because the more we create apps and the more we
• 25:34
  Speaker 1: create and give task to AI, we still need protection
• 25:36
  Speaker 1: from it. Talk about the role that cybersecurity is going
• 25:38
  Speaker 1: to play in their future.
• 25:41
  Speaker 5: So this is gonna sound funny coming from me, but
• 25:44
  Speaker 5: I think the security risk of AI is overwrought. I
• 25:49
  Speaker 5: think we're making too big a deal out of it.
• 25:52
  Speaker 5: So I've been in cybersecurity for forty years. I'm probably
• 25:56
  Speaker 5: one of the top people in the world on cyber
• 26:00
  Speaker 5: The Wall Street Journal did a study a number of
• 26:02
  Speaker 5: years ago where they stood on a street corner and
• 26:05
  Speaker 5: set to people, I will give you a free McDonald
• 26:09
  Speaker 5: hamburger for your name, date of birth, and a copy
• 26:13
  Speaker 5: of your driver's license. How many people you think said yes, hamburger?
• 26:25
  Speaker 3: Happy mil not even a cheeseburger.
• 26:28
  Speaker 5: I forget what the meal was it was, but it
• 26:30
  Speaker 5: was free food. So consumers have want to talk about security,
• 26:38
  Speaker 5: but there's an expectation that the company will take care
• 26:42
  Speaker 5: of security. Meaning if I'm buying from this company and
• 26:47
  Speaker 5: they get hacked, you know what I'm going to do.
• 26:50
  Speaker 5: I'm just going to go buy from another company. So
• 26:53
  Speaker 5: consumers care about it if it's simple. But if you're
• 26:59
  Speaker 5: forcing me to do two factor authentication, if you're forcing
• 27:02
  Speaker 5: me to buy off your website and I have to
• 27:04
  Speaker 5: click here and are you a robot? And then I
• 27:07
  Speaker 5: have to go here, you know what that consumer is
• 27:09
  Speaker 5: going to do. They're going to go the path of
• 27:11
  Speaker 5: least resistance and go to somebody else. What really drives
• 27:17
  Speaker 5: and will drive AI security is compliance. That's what drives
• 27:21
  Speaker 5: most security. So today, if you're a publicly traded company,
• 27:24
  Speaker 5: you have to have a certain level of security because
• 27:28
  Speaker 5: the onus of proof goes to the companies as opposed
• 27:34
  Speaker 5: to the consumer. So I'm not really worried about it
• 27:38
  Speaker 5: that much because I think it'll become a competitive feature.
• 27:42
  Speaker 5: And if the three of us have a company and
• 27:44
  Speaker 5: my company's more secure, more consumers are going to buy
• 27:47
  Speaker 5: from me? If you're getting hacked. Guess what consumers aren't
• 27:51
  Speaker 5: going to buy from you today. It's very fluid. People
• 27:54
  Speaker 5: can buy from you today somebody else in an hour.
• 27:58
  Speaker 5: So and I also think them, so I will make
• 28:01
  Speaker 5: some of the security easier and harder.
• 28:04
  Speaker 2: You've had an amazing career.
• 28:06
  Speaker 4: You've done a variety of different things on television, off television.
• 28:09
  Speaker 4: You talk to us backstage about bringing Shark Tank to Egypt.
• 28:11
  Speaker 4: What's the highlight of your business career so far? Like,
• 28:14
  Speaker 4: what's the most exciting fun story that you think about
• 28:17
  Speaker 4: and reminisce on when it comes to you know, some
• 28:19
  Speaker 4: accomplishment that you've done in business?
• 28:24
  Speaker 5: Easy? Getting on Dancing with the Stars makes sense, I mean,
• 28:34
  Speaker 5: I am you know. It's so funny. The dots of
• 28:40
  Speaker 5: your life never connect until you look back, you know
• 28:46
  Speaker 5: what I mean? Like, we all have these plans and
• 28:49
  Speaker 5: then we have this opportunity and we're like, is this
• 28:52
  Speaker 5: a good opportunity? Should I do it? And then when
• 28:55
  Speaker 5: you get older and you look back and you're like, wow,
• 28:59
  Speaker 5: that connect to that and it all made sense. So
• 29:05
  Speaker 5: years and years before I was on Shark Tank, my
• 29:10
  Speaker 5: mom loved dancing with the Stars, like, you got to
• 29:15
  Speaker 5: picture this little Eastern European woman. That show was everything
• 29:21
  Speaker 5: her life wasn't It was beautiful, It was glamorous. Like
• 29:26
  Speaker 5: if you called my house on a Monday when the
• 29:28
  Speaker 5: show was on, my mom would answer the phone and go,
• 29:32
  Speaker 5: why you call?
• 29:34
  Speaker 3: You know?
• 29:35
  Speaker 5: Show on. So my mom ends up getting ovarian cancer
• 29:42
  Speaker 5: and she goes to the hospital and I would go
• 29:45
  Speaker 5: there every Monday and with all the other ladies in
• 29:51
  Speaker 5: the ward and we would throw a Dancing with the
• 29:54
  Speaker 5: Stars party. And one day my mom looks at me
• 29:59
  Speaker 5: and she goes, Robbie, you so beautiful. Why you not
• 30:07
  Speaker 5: beyond dancing? Now, think about this. This is at least
• 30:12
  Speaker 5: ten years before being on TV was even in my universe.
• 30:18
  Speaker 5: So of course I look at my mom and I say, Mom,
• 30:21
  Speaker 5: if they ever ask me, I'll do it for you.
• 30:26
  Speaker 5: So my mom passes away. Ten years go by, Shark
• 30:30
  Speaker 5: Tank starts. Thank god for the producers for getting me
• 30:34
  Speaker 5: on the show. We've become successful. The producers are Dancing
• 30:38
  Speaker 5: with the Stars call me without before they finished a sentence,
• 30:42
  Speaker 5: I'm like, yes, Like would you like to know? No,
• 30:49
  Speaker 5: I'm at a real low point in my life, like
• 30:53
  Speaker 5: probably the hardest point in my life at that point,
• 30:57
  Speaker 5: like like you know when you're struggling and it's not
• 31:01
  Speaker 5: like a good struggle. It's like a struggle where you
• 31:04
  Speaker 5: don't you can't see tomorrow. Like there are struggles, but
• 31:09
  Speaker 5: you see the light and you're like, oh man, I
• 31:12
  Speaker 5: was going through a point in my life where I'm
• 31:14
  Speaker 5: like it's just hard and there is no light. And
• 31:18
  Speaker 5: then the call comes, I walk in, I meet my
• 31:23
  Speaker 5: dance partner. All of a sudden, my life is full
• 31:27
  Speaker 5: of joy. We get married. Eleven years later, we have
• 31:31
  Speaker 5: seven year old twins. Like, think about how those dots connected, right,
• 31:42
  Speaker 5: And I think I think that is the magic of
• 31:45
  Speaker 5: beauty in life. We all have the opportunity to write
• 31:51
  Speaker 5: our own book. You know, if you're not happy with
• 31:54
  Speaker 5: your life, turn the page right the life that when
• 32:01
  Speaker 5: you look back you're going to be happy with.
• 32:05
  Speaker 3: Absolutely. Yeah, life is a beautiful struggle.
• 32:11
  Speaker 1: When you were speaking earlier, it made me think about
• 32:13
  Speaker 1: the entrepreneurs that are sitting in this room.
• 32:16
  Speaker 3: A lot of them are solopreneurs.
• 32:17
  Speaker 1: Right when we start businesses, we want to take everything
• 32:21
  Speaker 1: and do everything. And then I heard a quote the
• 32:23
  Speaker 1: other day say you can't do everything you only have
• 32:25
  Speaker 1: two hands, right, So this beautiful struggle, like you talking
• 32:29
  Speaker 1: on the personal side, but the beautiful struggle of entrepreneurship.
• 32:32
  Speaker 1: What are some words or some tips that you would
• 32:34
  Speaker 1: give to people to get through that moment because it's
• 32:37
  Speaker 1: going to happen, right Everybody looks at social media and
• 32:40
  Speaker 1: it looks glamorous. We know in this room, like tab said,
• 32:44
  Speaker 1: you and the shower like, oh my gosh, what are
• 32:47
  Speaker 1: some of those tips that you would give people who
• 32:48
  Speaker 1: are in that moment right now?
• 32:49
  Speaker 5: It's so funny because you know, you look on social media.
• 32:52
  Speaker 5: Everybody's got a yacht, everybody's got a jet, and you're like,
• 32:55
  Speaker 5: everybody's beautiful, and you're like, why am I not on
• 32:57
  Speaker 5: those things? We social media has demystified success in some
• 33:03
  Speaker 5: ways and made it seem like it's so attainable, but
• 33:07
  Speaker 5: it's hard. It's really hard. And the sad reality is
• 33:16
  Speaker 5: when you start, you are going to be a solopreneur.
• 33:20
  Speaker 5: You cannot outsource the startup phase, like unless you're gonna
• 33:26
  Speaker 5: Silkham Valley and raising a ton of money and you're
• 33:28
  Speaker 5: going to hire the top people. You know what, at
• 33:31
  Speaker 5: the beginning, you're gonna have to do sales and guess
• 33:34
  Speaker 5: what you're gonna have to do accounting? And guess what
• 33:37
  Speaker 5: you're gonna have to sweep the floor if somebody spills
• 33:39
  Speaker 5: coffee on it. And if you don't like that and
• 33:42
  Speaker 5: you think that's below you, you're probably gonna fail. And
• 33:46
  Speaker 5: so what I will tell you is that all goes
• 33:51
  Speaker 5: away when you start. You gotta be the solopreneur. You
• 33:56
  Speaker 5: have to be the best at everything in your business.
• 34:00
  Speaker 5: But if you're still that person three years from now
• 34:04
  Speaker 5: or five years from now, you're doing something wrong because
• 34:08
  Speaker 5: you're never gonna grow. You only have two hands.
• 34:15
  Speaker 4: Well, I want to thank you for your time, and
• 34:19
  Speaker 4: I'm sure that the crowd got a lot from this.
• 34:22
  Speaker 4: Any last word of encouragement to any entrepreneur that you
• 34:26
  Speaker 4: know is coming for this three day conference, because we're
• 34:28
  Speaker 4: actually kicking this conference off. This is the first first
• 34:31
  Speaker 4: programming and they're going to be here tomorrow and I
• 34:34
  Speaker 4: believe tuesday. Also, So what networking advice or what you know,
• 34:39
  Speaker 4: advice to soak in information can you give people that
• 34:42
  Speaker 4: are on this journey for the next three days.
• 34:47
  Speaker 5: You know, first of all, congratulations for making the effort
• 34:50
  Speaker 5: to be here. Right, how many how many of you
• 34:57
  Speaker 5: we talked about solopreneur, let's talk but a w entrepreneur.
• 35:02
  Speaker 5: How many of you have friends that, oh, yeah, I
• 35:07
  Speaker 5: would have, I should have. Oh yeah, I was going
• 35:12
  Speaker 5: to go to that conference, but oh you know, I
• 35:16
  Speaker 5: had a hair appointment. Right Like, every every dream you
• 35:24
  Speaker 5: have is on the other side of a convenient excuse.
• 35:32
  Speaker 5: Everything you want to achieve, somebody is making an excuse
• 35:40
  Speaker 5: not to do. You had a friend that you probably
• 35:44
  Speaker 5: thought about bringing to this. You know, one of the
• 35:48
  Speaker 5: most motivating people I've ever met and I had a
• 35:50
  Speaker 5: chance to work with, was Tony Robbins. I went to
• 35:54
  Speaker 5: the first Tony Robbins seminar when I was like twenty two,
• 35:58
  Speaker 5: and it costs two hundred dollars. I had five friends
• 36:03
  Speaker 5: that were going to go with me. How many you
• 36:06
  Speaker 5: think actually came only me? You know what the other said,
• 36:13
  Speaker 5: why would it two hundred dollars to some guy talk?
• 36:18
  Speaker 5: You want to know where those other four friends are.
• 36:21
  Speaker 5: I don't know either, because I don't hang out with them.
• 36:25
  Speaker 5: That's the other thing I would tell you. One of
• 36:29
  Speaker 5: the greatest advantages of being at a conference like this,
• 36:31
  Speaker 5: it's the five person rule, and it's really true. You
• 36:35
  Speaker 5: are the product of the five people you hang out with.
• 36:39
  Speaker 5: You are in a room right now with five hundred
• 36:42
  Speaker 5: people that want to be successful, don't want to do something.
• 36:46
  Speaker 5: Feed off that energy and you can achieve anything in life.
• 36:53
  Speaker 4: There you have it, Ladies and gentlemen, Thank you for
• 36:55
  Speaker 4: your time. Enjoy the rest of the conference.
• 36:58
  Speaker 3: Whoo whoo I thank you guys.