Robert Herjavec doesn’t have confidence in work-life balance, not with regards to starting a business.
“Initially there is absolutely no work-life balance,” the CEO and founder of Toronto-based Internet security firm Herjavec Group tells Entrepreneur. “There is absolutely no, ‘I’ll do it when I wish to do it,’ and ‘I’ll take my time and move on to it.’ Everything is at this time.”
That’s because raising your small business is similar to raising a baby, he says. “It’s a full time income, breathing thing," he says. "When it really wants to eat, it really wants to eat. It doesn’t care for those who have a dinner date or someplace else to go. It requires what it requires when it requires it.”
‘Shark Tank’ Star Robert Herjavec’s Top 5 Small-Business Marketing Tips
Looking after your baby, your enterprise, is all-consuming during its infancy. Like as an overwhelmed new parent, Herjavec says you can just forget about properly looking after yourself while you manage it. “You can’t. That’s a fallacy,” he says. “If you’re concerned about burning out, don’t take up a business. The dedication and discipline required are almost insurmountable. It’s very difficult.”
Going for a break to deal with yourself is only a choice, he says, once you’ve raised the infant to survive without helicopter parenting it, when you’re able to afford to employ employees and marketing partners to feed another stage of growth.
“Only once you get to an effective level, you then have the freedom and the total amount to do things when you wish to. There is absolutely no greater freedom than having your small business and addressing dictate your own schedule.”
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We spoke with the Shark Tank star today as he announced a fresh initiative together with Deluxe Corporation, just with time for National SMALL COMPANY Week. The campaign, called the tiny Business Revolution, will award one small U.S. town with $500,000 to revitalize its Main Street area this season. The winner will be announced seven days from today.
“Our goal is to greatly help smaller businesses become vital,” he says. “We use them to expose them to a number of the great resources open to them, from marketing to financing to cloud computing and beyond.”
Setting up a business is a very important factor, surviving and thriving is another. To greatly help beginner small-business owners log off on the proper foot, listed below are the Shark’s top three what to know for first-timers:
“The objective of a business is to create customers. The task that small-business owners have is that they don’t know who that customer is and they don’t discover how to see them. There are so many tools today with e-mail lists, SEO and Facebook, you should go where your visitors are.”
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“You’ve surely got to understand how much cash you will need, what your line of credit is, what your receivables are, because they’re the lifeblood of any business.”
“Starting a business is always likely to take longer than you imagine, cost a lot more than you want and become h