Robert Herjavec Reveals Top Businesses to Earn Your First $1M And Says You May Not Know The Last One

Robert Herjavec, the celebrated star of 'Shark Tank US', ranks among the world's foremost cybersecurity experts, boasting an impressive estimated net worth of £232.17 million ($300 million). Herjavec built his considerable wealth by founding several successful cybersecurity companies and subsequently selling them to leading technology corporations and private equity firms.

Herjavec's first major breakthrough came in 2000 when he sold Brak Systems, an internet security software integrator, to AT&T Canada for approximately £23.37 million ($30.2 million). Over the past 35 years, his entrepreneurial acumen led to several more lucrative ventures, with companies sold to giants such as AT&T and Nokia.

Herjavec also regularly advises governments and top-tier enterprises on strategies for enhancing cybersecurity. On his LinkedIn profile, he recently claimed that his latest cybersecurity venture achieved revenues exceeding one billion dollars before being sold to private equity.

Beyond cybersecurity, Herjavec is an accomplished author and continues investing across diverse sectors, actively mentoring emerging entrepreneurs.

Recently, Herjavec shared valuable insights on his YouTube channel, outlining several practical business strategies to help aspiring entrepreneurs earn their first million dollars, emphasising that low-tech ventures can yield significant returns.

Starting Businesses with Low Capital

Herjavec stressed the importance of avoiding high capital requirements when starting a new business. Instead of investing heavily in physical stores or retail outlets, he recommended providing personal services or entering the contracting industry. Online platforms offer a low-cost alternative to traditional business setups, significantly reducing startup risks.

Sell First, Buy Later

Traditionally, businesses allocate substantial capital upfront to purchase inventory. However, Herjavec advised adopting a more flexible strategy: selling products first, then purchasing them. He noted that many enterprise sales and e-commerce models allow entrepreneurs sufficient lead time to generate the cash needed for inventory purchases after securing sales, thus lowering financial exposure.

Leveraging 'Other People's Money' (OPM)

Herjavec highlighted the strategic advantage of using 'other people's money'—essentially leveraging advance payments from customers to fund business operations. In the context of a painting business, for instance, one could collect deposits from clients before acquiring paints and hiring contractors. This method safeguards capital reserves and strengthens a company's financial stability.

Help Customers Declutter and Save Time

Herjavec identified opportunities in simplifying people's lives through businesses that manage everyday tasks, such as cleaning or moving services. He emphasised that people value their time more than money, positioning ventures in home automation or even low-tech services as highly profitable.

Illustrating this principle, former corporate executive John Conway founded Sparkling Bins, transforming a mundane household chore into a lucrative enterprise. Sparkling Bins specialises in efficient bin-cleaning systems, generating around £10,834 ($14,000) weekly from minimal daily work. As urban density increases and environmental legislation tightens, Conway tapped into the booming demand for cleaner communities. Sparkling Bins estimates entrepreneurs can generate approximately £6,965 ($9,000) per week by cleaning around 200 residential bins daily over five days.

Herjavec's advice underlines how creative, low-tech, and customer-focused businesses remain highly effective pathways to entrepreneurial success.