'Shark Tank' investor Robert Herjavec explains why you should be wary of all business advice

People have a tendency to make legends out of highly successful businesspeople, thinking they must know something deep and insightful to get to the top.

Yet this is a dangerous mindset to have, said "Shark Tank" investor Robert Herjavec.

Business Insider recently spoke with the cyber security entrepreneur at a press conference for Deluxe's entrepreneur initiative, Small Business Revolution.

"You know, people always ask that question: 'What's the one piece of advice that changes everything?'" Herjavec said. To him, that piece of advice doesn't exist.

The most successful entrepreneurs are certainly talented and intelligent, Herjavec explained, but it's the long hours and tireless focus that causes them to triumph, even though those experiences are hard to capture in a sound bite. "It's the thousand little, non-sexy, non-exciting, mundane things that you have to do in order to be recognized."

That doesn't mean you should disregard everything you hear or that you shouldn't share your own insight with less experienced colleagues.

After all, Herjavec has written two books filled with lessons learned from founding and growing the Herjavec Group and investing in other companies. He's just saying that there are few universal truths in business.

If he had to offer one piece of advice, it's to "take the advice that helps you, and discard the stuff that doesn't." In other words, figure out what works well for you, and stick with it.

"I do what I do well," Herjavec said. "All of the things I don't do well, I forget!"

Ultimately, he said, "free advice is worth exactly what you've paid for it."