(Photo: Patrick Ecclesine)

The basics of business and entrepreneurship

Robert Herjavec is known for his role as one of the top investors of the business investment show “Shark Tank” and he has some insider tips for entrepreneurs. Here are some tips from a “Shark Tank” investor on becoming better in business.

Herjavec suggests starting a business by finding a problem and creating a solution that will serve as the purpose of your business. Too many people going into business think of all the things they have to do to start but some of the most successful businesses that serve a purpose and drives demand.

One of the main components of any business is the customer, Herjavec suggests you ask a paying customer’s opinion to see whether it’s a worthy business venture. Before sinking money into a business it’s best to know up front whether you’ll have a demand for your business.

Herjavec imparts the importance on maintaining a budget and advises entrepreneurs to make sure they have enough money to pay the rent. Paying the rent is essential to any business and Herjavec’s father gave him that essential tip when he started his first business venture.