"It's a two-edged sword" — When Shark Tank investor Robert Herjavec admitted emotions can hurt business

During an interview with Fast Company on December 10, 2013, Shark Tank investor Robert Herjavec discussed how emotions impact business decisions. When asked about the role of emotions in entrepreneurship, he explained,

"I think there's it's a two-edged sword right I always say to people I'm not in business for emotional gratification."

This implies that even though emotions are unavoidable when making decisions, they should not drive business strategies. The conversation also covered how business owners can shun emotional decision-making, identify when to leave failing projects, and employ active listening to better comprehend business trends.

Herjavec stressed that although emotions can cause irrational decisions, knowing when to step away from unprofitable ventures and paying attention to non-verbal signals can enhance decision-making.

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Shark Tank Robert Herjavec insights on how emotions impact business decisions and success

Avoiding emotional decision-making

Robert Herjavec cautioned against allowing emotions to drive business decisions, as they can result in impulsive choices. The Shark Tank investor stated,

"You got to leave your emotion out of it because when you're angry or you hate you make stupid decisions."

This indicates that negative emotions may cause business owners to act irrationally, leading to ineffective outcomes. However, he clarified that maintaining a logical approach does not mean disregarding professional relationships. He explained,

"That doesn't mean you have to become a jerk or or mean about it. I mean nobody likes to do business with somebody who isn't nice."

This implies that emotions should not govern decision-making but that respect for people is still a vital business practice. His remarks show a wider context for strategic thinking in business.

He pointed out that successful entrepreneurs largely focus on rational thinking as opposed to emotional response, supporting the notion that companies ought to use systematic decision-making as opposed to personal sentiments.

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Knowing when to let go

Herjavec also addressed the importance of recognizing when a business venture is not working. He highlighted that entrepreneurs often struggle to separate emotions from financial realities, which can result in prolonging unsuccessful efforts. The Shark Tank investor stated,

"Success is not about winning at every everything success is about finding out the stuff that you shouldn't be participating in let it go."

This implies that recognizing when to leave a loss-making business is an important competence for long-term success. He went on to say that staying persistent does not ensure success and entrepreneurs need to evaluate whether or not their perseverance is with sensible opportunities.

His view shows that judging a business objectively instead of emotionally enables entrepreneurs to make better decisions.

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The importance of listening and understanding

While Herjavec stressed the need to control emotions in decision-making, he also recognized the value of understanding emotions in business interactions. The Shark Tank investor stated,

"It's not about listening for empathy it's not about listening to be a nice person it's about listening and not just the the audio cues but the the physical cues about what people are really saying to you."

This suggests that paying attention to both verbal and non-verbal communication can provide useful insights in business discussions. By listening effectively, business leaders can gain a better understanding of their customers, employees, and partners.

This approach supports strategic decision-making while maintaining strong professional relationships. Herjavec stressed that while emotions should not dictate business actions, they can offer valuable information when interpreted correctly.

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