No fluff, no bullshit - just a straight up guide to taking an idea through all the stages of development and into the marketplace. Dec 03, Jennifer rated it it was amazing Recommends it for: Potential Entrepreneurs, Students, Anyone interested in learning about the path of an inventor When Lori Greiner walks onto the set of a Shark Tank episode or QVC show, viewers have the chance to watch a charismatic entrepreneur who knows her way around the block. They can see her success and her inventions turned into reality as they dream about their own paths taking them to similar heights. But what they dont get a chance to see is the steps she took along the way, from the prototypes to manufacturing to selling.
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Myth and misunderstanding have led most people to shun taking their product concept from idea to reality. Painful, but not impossible. She started her inventing career with no business background and just an idea for an earring organizer. Here are three takeaways that I picked up from the book: 1. Be Honest With Yourself. As entrepreneurs we sometimes get carried away with our ideas to the point that we cloud our thought process. In her book, Lori talks a lot about finding out if your idea is a hero or a zero.
She suggested asking yourself questions like - does it serve a function and solve a problem? Would people be willing to pay for this? Are there a lot of competitors in this space? The truth is it takes much more than a good idea to make a lot of money. This is because not all great ideas can be made into a business. However, you have to be completely honest with yourself or else you could hurt yourself in the future.
Be Passionate. A common theme that was easily spotted in the book was the level of passion Lori has for her product. Throughout the book she shared the hurdles that she faced and how she overcame them. Personally, I believe that she was successful because of her strong passion, and the support she received from those around her.
Whether you are bringing a product to market or simply operating a service-based business, you will meet hurdles and challenges.
Passion will push you to move forward despite the hurdles. Those entrepreneurs that bring products to market are able to serve a much wider customer base and therefore are often the ones that change the course of history. Invent It, Sell It, Bank It has a lot of invaluable information on including designing, patenting, manufacturing, pricing, and marketing a product.
Before publishing, I reached out to Lori to get her to conclude this piece.
Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea into a Reality
Invent It! Invention as a process, and pertaining to a budding entrepreneur with a product idea, is a hefty topic. Greiner tackles it as straightforwardly and simply as possible. The author does provide some value for the reader, however.
3 Takeaways From Lori Greiner's Invent It, Sell It, Bank It.
Lori Greiner started with one idea and turned it into a multi-million dollar international brand. She is well known as a self-made inventor and entrepreneur, who has created over products and holds US and international patents. She is also known as one of the most prolific inventors of retail products of our time. Several of her investments are the highest success stories on Shark Tank to date. She is known for creating some of the most popular jewelry and cosmetic organizers of all time. Her inspiration comes from her passion to bring happiness to people by making their everyday lives easier.