Wealth Insights from the Original Shark on ‘Shark Tank’

Kevin Harrington, an original Shark on "Shark Tank" and the inventor of the infomercial, has had a profound impact on the world of entrepreneurship. With over 50 years of business experience and a portfolio that includes generating over $5 billion in TV and digital direct response sales, Harrington's insights offer invaluable lessons for aspiring entrepreneurs. Learn from his wealth of knowledge on leveraging media, overcoming adversity, and making strategic investments.

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How Do You Become a Shark?

Kevin Harrington's entrepreneurial spirit was evident from a young age. "When I was in high school, I was an entrepreneur. When I was in college, I was an entrepreneur," he recalls. Harrington's passion for business led him to co-found The Entrepreneurs Organization, which has grown to 150 cities in 75 countries. Even after 50 years in the business, Harrington continues to stay active because he loves waking up to new opportunities. His influence has helped over 100 people become millionaires, and he still receives 1,000 pitches a month.

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The Power of Innovation

Harrington's excitement for innovation is a driving force behind his continued success. One of his recent investments involves artificial intelligence for telemarketing, a technology capable of handling up to 50,000 calls simultaneously and mimicking human interaction. "You can talk to a machine for 20 minutes and not realize it," says Harrington. This investment showcases his enthusiasm for innovative solutions that revolutionize traditional industries.

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Harrington's business empire includes investments from "Shark Tank," infomercial ventures, and consulting. He continues to benefit from successful ventures like Scrub Daddy while exploring new opportunities. A key aspect of his strategy is selective investment. "I'm more about scaling businesses than starting them up," Harrington explains, noting that he looks for businesses with a proven customer acquisition cost and scalability potential.

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Overcoming Adversity

Managing equity in over 50 companies means Harrington frequently deals with businesses facing challenges. These include cash flow issues, customer acquisition problems, and capital needs. Despite these hurdles, he remains committed to helping businesses grow. For example, a roofing company he invested in five years ago now has over 400 dealers and is preparing for a lucrative private equity sale. "We're looking for like 100x our return," he says.

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Harrington's passion for entrepreneurship is evident in his work. Whether through speaking engagements, advisory roles, or the "Spend the Day with a Shark" program, he enjoys sharing his knowledge and helping others succeed. "I don't consider it work," he states, underscoring his dedication to mentoring and supporting aspiring entrepreneurs.

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Key Strategies from Kevin Harrington on Becoming a Successful Entrepreneur

Kevin Harrington’s extensive experience provides a blueprint for aspiring entrepreneurs. Here are his key strategies for achieving success:

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1. Embrace a Passion for Entrepreneurship

Harrington’s entrepreneurial journey began early and has continued throughout his life. His ongoing passion for business is evident in his daily activities and the organizations he supports. Aspiring entrepreneurs should find and nurture their passion for business, as it fuels long-term commitment and resilience.

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2. Stay Excited About Innovation

Innovation drives Harrington’s success. He invests in groundbreaking technologies, such as AI for telemarketing, which can transform traditional industries. Entrepreneurs should seek out and invest in innovative solutions that have the potential to revolutionize their fields.

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3. Develop a Consistent Morning Routine

Harrington starts his day early, incorporating exercise and a nutritious breakfast into his routine. He also dedicates time to staying informed by reading financial news and websites. A consistent morning routine helps maintain physical health, mental clarity, and informed decision-making, all of which are crucial for entrepreneurial success.

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4. Focus on Strategic Investments

Harrington emphasizes the importance of being selective with investments. He looks for businesses with a proven customer acquisition cost and scalability potential, focusing on scaling existing businesses rather than starting new ones. This approach minimizes risk and maximizes impact.

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5. Leverage Networking Opportunities

Networking plays a significant role in Harrington’s strategy. He often receives pitches while engaging in leisure activities, such as playing golf at country clubs. Entrepreneurs should seek out networking opportunities in both formal and informal settings to expand their business connections and discover new opportunities.

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6. Overcome Adversity with Resilience

Managing equity in numerous companies means Harrington frequently deals with challenges. Despite these hurdles, he remains committed to helping businesses grow. Entrepreneurs should develop resilience and a problem-solving mindset to navigate and overcome business challenges.

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7. Prioritize Helping Others

Harrington’s passion for entrepreneurship extends to mentoring others. Through speaking engagements, advisory roles, and programs like "Spend the Day with a Shark," he enjoys sharing his knowledge and helping others succeed. Aspiring entrepreneurs should seek opportunities to mentor and support others, as it can lead to personal fulfillment and strengthen their professional network.

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Conclusion

Kevin Harrington's entrepreneurial journey provides a comprehensive guide for aspiring business leaders. His strategies emphasize the importance of passion, innovation, strategic investments, and resilience. By incorporating these principles into their own ventures, entrepreneurs can navigate challenges and capitalize on opportunities. Harrington’s insights, drawn from decades of experience and success, offer a valuable roadmap for building a thriving business and achieving long-term success. Aspiring entrepreneurs can learn from his example to not only grow their businesses but also make a meaningful impact in their industries.