Shark Tank's Robert Herjavec Reveals The One Thing You Should Know Before Starting A Business

Many aspire to start their own business, but according to Robert Herjavec, too many hopeful entrepreneurs falter before they even get off the ground. The investor and business expert shares key advice on avoiding common pitfalls and laying the groundwork for long-term success - as well as the hottest industry would-be entrepreneurs should consider getting in to:

The Biggest Mistake Entrepreneurs Make

One of the most common errors Herjavec sees among new business owners is chasing short-lived trends rather than prioritising sustainable growth. He compares entrepreneurs to mice frantically pursuing a piece of cheese.

'There's a piece of cheese, and all the entrepreneurs are mice, scrambling around,' Herjavec explains. 'They rush towards it, but then tomorrow, there's another piece of cheese somewhere else, and they all dart in that direction.'

This short-sighted approach, he cautions, pushes many into crowded markets where the fight for customers is brutal, and prospects are slim. Rather than looking at current opportunities, entrepreneurs should try to predict where the next major opportunity will appear.

Follow The Puck, Not The Crowd

Herjavec points to hockey great Wayne Gretzky's famous words: 'Don't go where the puck is. Go where you think the puck is going.' He stresses that business success works the same way. Instead of diving into already-packed industries, entrepreneurs should get themselves in position before the wave hits.

'Don't get into a business that everybody else is getting into. Get into a business that's going to be the next wave,' he advises. He points to artificial intelligence (AI) as one example, an industry that keeps creating enormous opportunities for those who get in early enough. 'Ai is still super hot. Get into that,' Herjavec says.

For entrepreneurs aiming to build a lasting business, Herjavec emphasises the value of looking ahead. 'You gotta know where the puck is going to go,' he says. Instead of simply reacting to what's hot, business owners should learn to understand market changes and put their resources into industries set to take off.

Profitable AI Business Ideas To Watch In 2025

Artificial intelligence, which Herjavec highlights as ripe with potential, remains a hotbed of opportunity. Shopify has even listed profitable AI business ideas to launch in 2025.

1. AI Content Marketer

Content marketing involves creating and sharing valuable content for your target audience. The aim is to attract new customers and build trust with existing ones. You can launch a content marketing business using AI-powered writing tools. These tools leverage NLP, machine learning, and predictive analytics to produce text that sounds human based on what users input.

2. AI Personal Assistant Business

Starting an AI personal assistant business lets companies or individuals hand off some of their tedious tasks to you. Instead of doing everything themselves, they can use your AI-powered skills to efficiently handle things like paying bills, scheduling appointments, or tackling projects that involve manual data entry, such as invoicing or expense reports.

3. AI Graphic Designer

AI image generators can create branded images and other visuals for companies, enabling entrepreneurs with little to no graphic design experience to help businesses produce visual content. As an AI graphic designer, you can help brands build unique visual identities and define how imagery fits into their broader marketing strategies.

4. AI SEO Specialist

Search engine optimisation (SEO) improves a website's content and structure to attract more quality traffic and boost its search engine rankings. You can launch an AI business offering SEO services to companies using AI-powered SEO tools.

5. AI Social Media Manager

While AI can automate social media posting, companies still need human expertise. AI social media managers help brands craft effective strategies, set up and manage AI tools, and generally oversee their social media presence, similar to how a marketing manager guides their team.

So, while the AI boom presents incredible opportunities, remember Herjavec's advice: don't just jump on the bandwagon. Strategically position yourself and anticipate future trends; you'll be well on your way to building a lasting business.