How’d She Do It? Lori Greiner

We’re almost certain that you’ve heard of the popular show Shark Tank, where hopeful business owners get the chance to pitch their idea to a set of investors for a stake in their company. One of those investors is Lori Greiner. Not only is Lori an investor, but she is a product development and marketing specialist, author, entrepreneur and the “Queen of QVC”. There’s no doubt that Lori is a successful business woman, making millions of dollars, but how did she do it? The CGS Team is giving you a little insight on Lori’s success.

Early beginnings

Lori was born and raised near the North Side of Chicago (our Chicago-CGS members will appreciate that)! She attended Loyola University Chicago where she majored in Communications, with a focus in journalism and television.  While attending school, she worked briefly for the Chicago Tribune. After graduating, Lori’s career took off after creating a box that organized earrings.

She patented this box and pitched the idea to J.C. Penney right before the holiday season.  J.C. Penney picked up Lori’s product and allowed her to demonstrate how it works in their stores.  According to Lori, 18 months after the product was picked up, she became rich.

QVC Queen

After that, Lori was able to create more products, which eventually led to her own show “Clever & Unique Creations by Lori Greiner” on QVC in 2000.  The show is still a popular hit on the shopping channel.  In 2012, Lori joined the cast of Shark Tank, where she was known as the “warm-blooded shark”. 

Her most successful investment came in 2014 with the sponge product ScrubDaddy.  ScrubDaddy sold over 2 million sponges in one day alone.  As of April 2016, ScrubDaddy has over $75 million in sales.  In 2014, she released her bestselling book “Invent it, Sell it, Bank it! – Make Your Million Dollar Idea into a Reality”, which reached #3 on the Wall Street Journal’s Best Seller List.

To date, Lori has created and invested in over 500 products, and currently holds 120 patents.  She is a guest speaker for the United States Patent & Trademark office, and handles all of the legal and patent processes for her products and companies.  She attributes her accomplishments to “sharp instincts and strong business sense.”  She is hands-on with all of her products and has the ability to take them from concept to market within a matter of months. Visit Lori Greiner’s website to learn more about her success and products.

 

Lori is living proof that if you have a good idea, hard work ethic, and the ability to never give up, you can reach success! Have you seen the show Shark Tank? Does Lori’s story inspire you? Leave a comment below to share your thoughts on the product mogul!

-The CGS Team

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