I recently got to spend some time with Shark Tank's Kevin Harrington at a private event. First, I have to admit, I did not know that much about him or even how he became so successful, but after talking to him 1:1 and seeing him present, I was intrigued by his journey to success and impressed with his incredible transparency of his failures and what he did to overcome them.
First, Kevin, is a mid-west guy from Ohio like me. His dad owned a bar and he basically grew up working there. He was an early entrepreneur in high school and started the first A-Z business brokerage and outsourcing firm. But, what he is really known for is being the wizard behind "As Seen on TV" and the infomercial scene. Kevin is responsible for everything from Ginsu to Tony Little and beyond.
But, as things changed in the digital world and TV became less and less in our lives as things switched to digital, Kevin's business, which had been doing over half a billion dollars per year, started to have trouble and sales started to plummet. Eventually, the business got a point where it was losing money and Kevin had to change things around...FAST. He managed to secure a 1:1 mastermind session with Richard Branson on Necker Island and came out with 3 important lessons that changed his business and re-ignited its success.
1.) Constantly Evaluate Your Dream Team
Kevin was made aware the team he had built that had done so well with TV and print advertising was not a team for the digital age. He had to re-evaluate the team, train them, and/or add or remove people to get the right team to succeed. You should always be working on your "Dream Team," but make sure to be thinking ahead to the future for what you will need.
2.) Embrace Digital Disruption - When you're on fire, rewire
No matter what business you are in, you must be prepared for disruption - in today's age more than ever. An entrepreneur, you should develop what I call a "healthy paranoia" in which you are always hungry and a little on edge. If you get complacent, you will get past up quickly. You constantly have to be ready to re-wire as Kevin said.
3.) Become a key person of influence by raising you profile and building your personal brand
In order to raise your profile, you must have a personal brand. You should treat it as importantly as you do your business. Be strategic. Make sure that what you are doing with your brand helps to lead back to your business and grows you in the areas where you need to focus.
If you practices these 3 things, it will make a big difference in your success. Kevin is a great example!
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