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Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea into a Reality, by Lori Greiner
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NATIONAL BESTSELLER
From one of the stars of ABC’s Shark Tank and QVC’s Clever & Unique Creations by Lori Greiner comes a hands-on, nuts-and-bolts guide to getting a new product or company off the ground and making it a success.
Turn your idea into a reality.
Become your own boss.
Make your first million.
Achieve financial freedom.
Lori Greiner shows you how.
Lori Greiner is one of America’s most successful, prolific, and sought-after entrepreneurs. But before she created her first hit product, all she had was a great idea, a tireless work ethic, and no clue how to get it to market. So Lori taught herself everything she needed to know about bringing an invention from concept to creation to consumers in months. She learned the ins and outs of business, manufacturing, investors, patents, marketing, and more. Now, five hundred million dollars in retail sales later, in an honest and straightforward fashion, Lori reveals the path she took to her wealth of experience and hard-won wisdom so that you, too, can achieve financial freedom and see your invention become reality.
Invent It, Sell It, Bank It! is a hands-on, nuts-and-bolts guide to getting a new product or company off the ground and making it profitable. Sharing her own secret formula and personal stories along the way, she provides vital information and advice on topics that can often intimidate, frustrate, and stump aspiring entrepreneurs.
Offering behind-the-scenes insights into her experiences on ABC’s Shark Tank and QVC-TV’s Clever & Unique Creations by Lori Greiner, as well as valuable lessons learned from the mistakes and triumphs of her early career, Lori proves that, with hard work and the right idea, anyone can turn themselves into the next overnight success.
So a note to all the weekend inventors, armchair CEOs, and get-rich-quick dreamers: No more excuses! With Lori Greiner as your personal mentor, the only thing left to do is make your product, get out there, and sell it!
Inside, Lori covers such topic as . . .
• Market research: Is your idea a hero or a zero? Don’t be so fixated on the end result that you forget to make something that people actually want to buy.
• Product design: I have an idea, now what’s next? From concept to prototype to final product: How do I make it and where do I start?
• Funding: Although loans, investments, and crowd-sourcing are great ways to access cash, first tap into your own resources as wisely as possible.
• Manufacturing: Seeing your final product roll off the assembly line is a magical moment, but there are things to watch out for so you get there in a cost-effective way.
• Protecting your idea: To patent or not to patent, and other things you can do to safeguard your idea.
• The secrets to selling successfully: You got the product made, now learn how to get people to buy it!
Advance praise for Invent It, Sell It, Bank It!
“I am used to dealing with Mavericks and Lori fits the bill! Lori Greiner’s insightful and practical book, Invent It, Sell It, Bank It! should be on the required reading list for anyone who wants to take an idea and turn it into a real business.”—Mark Cuban
“While most people write a book to make money, it’s evident in reading Invent It, Sell It, Bank It! that Lori’s goal is to share her secrets with the reader, and make them money.”—Mark Burnett
- Sales Rank: #17716 in Books
- Published on: 2014-03-11
- Released on: 2014-03-11
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .90" w x 5.70" l, .88 pounds
- Binding: Hardcover
- 288 pages
From Booklist
Greiner’s obsession with an idea for an earring organizer launched her into a long career as inventor and entrepreneur. With no background or education in business and none of the advantages of the Internet age, she now has more than 400 inventions to her credit, 15 years on QVC’s Clever & Unique Creations, and her notoriety as the “warm-blood shark” on Shark Tank. Greiner has much to share with aspiring inventors. From her own early efforts, both failures and successes, she shares what she’s learned along the way from concept to market shelf, including designing, patenting, manufacturing, pricing, and marketing. Greiner includes step-by-step instructions and checklists to identify the basic elements—usefulness, uniqueness, safety, well-priced, desirable, and easily demonstrated—of promising inventions. She includes advice on how to use social media and online surveys to do market research and the pros and cons of getting financing through friends, family, banks, crowd funding, or venture capitalists. Most fascinating are her behind-the-scenes looks at QVC and Shark Tank as she recalls the ups and downs of pitching ideas. --Vanessa Bush
Review
Advance praise for Invent It, Sell It, Bank It!
“I am used to dealing with Mavericks and Lori fits the bill! Lori Greiner’s insightful and practical book, Invent It, Sell It, Bank It! should be on the required reading list for anyone who wants to take an idea and turn it into a real business.”—Mark Cuban
“While most people write a book to make money, it’s evident in reading Invent It, Sell It, Bank It! that Lori’s goal is to share her secrets with the reader, and make them money.”—Mark Burnett
“Inventors, look no further—Lori Greiner’s book has it all. It’s fast, it’s fun to read, and it’s packed with all the information you need to turn your big idea into a huge success.”—New York Times bestselling author Gary Vaynerchuk, CEO, Vaynermedia
About the Author
Lori Greiner is one of the most prolific inventors of retail products. She’s created more than 400 products and holds 120 U.S. and international patents. She stars as the “warm-blooded shark” on ABC’s hit show Shark Tank and is a well-known celebrity personality on QVC-TV, where she has hosted her own show, Clever & Unique Creations by Lori Greiner, for more than fifteen years. Greiner’s collection of cleverly designed products range from kitchen gadgets to travel bags to some of the most popular and unique organizers for all around the home. They are regularly featured in top magazines such as Town & Country, O: The Oprah Magazine, InStyle, Woman’s Day, and Family Circle. She has also been profiled in Financial Times, Success, and Entrepreneur. Her Silver Safekeeper® Jewelry boxes were chosen as one of Oprah’s Favorite Things.
Most helpful customer reviews
72 of 76 people found the following review helpful.
Well-written, Highly informative and Lori's Personality Shines Through Each Page
By Christine Abraham
Shark Tank investor Lori Greiner has published a fantastic book for turning ideas into profit. As a small business owner, I've read several mommy millionaire books on starting a business. This book by Lori Greiner crushes those books and hits it out of the ballpark! Lori has been called the "Queen of QVC." She has helped launch over 400 products and holds 120 U.S. and international patents. She is passionate about encouraging others towards personal success and leaves no hidden secrets...Lori puts it all on the table for her readers, by including both her failures and her success. Topics in the book include:
*Research Your Market
*How to Get Funding
*The Truth About Patents
*Pitch Perfect
*Manufacturing and Packaging
*Beyond Brick and Mortar
*Marketing That Really Works
*Expand and Diversify
From the time I picked up the book I was unable to put it down. The book is well-written, highly informative and Lori's personality shines through each page. If you are a fan of the Shark Tank television show, you'll like the stories Lori shares about working with the other investors and the prospects presenting their pitches. I highly recommend this book!
75 of 82 people found the following review helpful.
"Unicorn" Shares All: Tips, Advice, and Information
By Becky Rose
Lori incorporates her story of her first product, an earring organizer, from conception to stores in 4 months, and her evolution into entrepreneur conglomerate and "unicorn" on Shark Tank, with behind the scenes info. As A preacher of DIY, she has become an expert in manufacturing, patents, and design. She also stresses importance of family, fun and compassion.
The book is linear, but explains you will be doing several steps at once. It will require hard work and dedication on your part.
Topics include:
Are you ready? Public speaking a must amongst other listed criteria. Is your idea a hero or zero? How and why with a summary checklist provided. How to make your product, from prototype (design engineers, PMS 365, mock up, 3D printing, plastic manufacturers, injection molding, CAD design...don't know what I'm talking about? It's all in the book:-). Again, at end of chapter a helpful checklist is provided.
A chapter on market research is provided and then she dives into the inevitable, daunting task of funding ( business plans and what you need to know). Without providing her personal Rolodex (dream on people!) she lists where to look for funding with many examples and the pros and cons. Very thorough and enlightening for me. Do you know what a DVRT company is? I didn't either.
Next up. Patents and then Pitching. How tos, what to do...more info with some great success stories. If you are lucky enough to make it this far, Lori continues by sharing manufacturing and packaging secrets. What to consider, overseas options with reputable contact info provided, regulations and laws, quality control, etc.
The later part of the book moves into driving your business ( you are never done) and then beyond brick and mortar, which is mostly about TV options, Internet options, and catalogs. She wraps up the book with marketing options and why she loves social media.
Compared to mommy millionaire books I've read, this one is way more informative with a lot more step by step and practical advice. I learned a lot and a lot about where to find more information. Her examples, tips, and advice are priceless and inspiring. I really like Lori, her voice, the way the book is organized, and how she makes it all seem possible. She seems to genuinely want to help others and I thinks she does that with this book.
I would recommend to any one who has an idea and doesn't know what to do with it. I'm going to give a copy to my niece who is going off to college for inspiration. It's a great book for both male and female entrepreneurs. And for all those Shark Tank dreamers.
69 of 76 people found the following review helpful.
Honest, helpful and easy to read
By monkuboy
I'm not really a fan of Shark Tank. My wife loves the show and keeps telling me to watch it. I've watched bits and pieces of it, but to tell you the truth the judges, or sharks, don't appeal to me because they are so aggressive and the show is all about money money money. So then why did I read this book, written by one of the sharks? Because someone I know is an "inventor" and I wanted to see if this book would be worth recommending to him. It is.
I am not familiar with Lori Greiner. The bits of the show I've watched, I have seen Mark Cuban and the other two guys talking, along with the older lady and I don't like any of them. I guess I should watch for Ms. Greiner, since she has written what I feel is a very good book. At first I thought this was a quick bit of work to make money by taking advantage of her shark status. Obviously she wants to make money from it, but the reader gets his or her moneys worth; I got the impression she really cares about helping the reader to be successful. When she talks about her experiences, it seems more about helping and not about bragging.
The book is well-organized, with chapters covering all the major aspects of bringing an idea or invention to market. It isn't sugar coated, and it is written in a very personable way that makes it easy to read and understand. Having a business background (but never having tried to market any of my own ideas), my two cents is she provides a sensible, solid foundation for someone who wants to market a product. There's no fluff in the book, it's all practical and wise advice. She makes it clear that just because you have a great idea doesn't mean you're going to get rich - there is a continual emphasis on how much hard work and effort is required, as well as being quick to stay ahead of possible competition.
I think for the person who has what he or she feels is a good idea or invention and has thought about marketing it, this book makes an excellent resource. You will learn a lot from Ms. Greiner's voice of experience.
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