Throughout the course of his over 50-year entrepreneurial journey (that is still going strong!), Kevin Harrington net worth has increased significantly due to his successful exit from several companies for more than $100 million. He is also the inventor of The Infomercial, an author, speaker, and one of the original Sharks on SharkTank. One of his biggest skills is being able to identify “homerun” businesses that are innovative, problem-solver, and transformational.
Below are 4 key takeaways from our conversation. Listen to the full episode to hear more details about Kevin’s career. There are many valuable lessons to be learned.
4 Key Takeaways from Kevin Harrington
From Strength to Strength
“In the old days, I wanted to own everything. Today, I’m happy to advise and take a small piece of equity.”
In the early ’80s, Kevin began his journey as a business broker. Seeing an opportunity for product advertising during the times that there were no programs on television was his first big break. Today, he has sold several private companies and is on the board of 15 public companies.
Keep Learning
“I fail way more than I succeed.”
Kevin is no stranger to failure. In fact, for every 10 projects he is involved in, only one or two will succeed, and most of the time they will be huge successes. So, the lesson here is that you shouldn’t give up too early; patience, perseverance, and grit are key attributes for entrepreneurs.
What Makes a “Homerun” Product?
“I look for something that solves a problem uniquely.”
When deciding whether or not a product is worth investing in, Kevin looks at whether it has a unique ability to solve a particular problem. One of Kevin’s “home run” products is a two-step eyeglass cleaning system that cleans your glasses on both sides simultaneously. This is an example of a product that Kevin calls “magically transformational,” and who can resist a product that feels like magic?
Build Your Dream Team
“Surround yourself with the best experts that you can’t afford.”
During the early days of his entrepreneurial career, Kevin wanted to do everything his way, and he didn’t want to pay high-quality people to help him. This ended up costing him more in the long run! Just imagine how impressive Kevin Harrington net worth would be if he didn’t commit this mistake. So, even if you feel like you can’t afford it, make a plan to get the best people into your corner as early as possible because you can’t do it all alone.
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