Lori Greiner
Highlights
- Lori Greiner is a skilled entrepreneur with thousands of inventions and hundreds of patents.
- The Shark threw light on her Shark Tank journey during her appearance on The Ellen DeGeneres Show.
- Lori emhpasized on the reasons that compel her to invest in a Shark Tank product.
With about 1000 inventions and 120 patents, Shark investor Lori Greiner has proven her expertise as an entrepreneur. The same is reflected in her many rewarding investments on the show. As she is one of the most successful Sharks, audiences often get curious about her reasons to invest in products.
This is why Ellen DeGeneres asked this question to the QVC queen when she appeared on her popular talk show. After praising her for her wins as a Shark investor, Ellen expressed her curiosity about what compels Lori Greiner to invest in a product. Replying to this, Lori gave two reasons as explained below.
1. A Close Look Into The Product/Business
Lori stated that she generally has a ‘gut feeling’ about whether a product can sell fast or not. Despite this, there are four things that she looks for before making her final investment decision about a Shark Tank product. Lori explained that the most important of them all is if the product is something that people want or need.
After this, the Shark analyzes if the Shark Tank product can be offered at an affordable range. If these two things are okay, Lori carefully thinks about its market reach. She said the ‘broader’ the market, the ‘better’ it gets. In the end, the Shark investor sees if the product/business solves a problem.
2. An Analysis Of The Pitcher
Going ahead in the discussion with Ellen, Lori said that once the four aspects related to the product are ticked off and the gut goes off, she watches the ‘person.’ Explaining further, the Shark stated that if she gets the impression that the pitcher standing in front of her is not a good partner, the deal may fall through.
On the other hand, if Lori feels that the pitcher is committed to working hard and is willing to mutually work towards offering a solution, she goes for it. This is because no matter how good a Shark Tank product/business is, if the partner is not amicable, it is obvious that things will get tough for her.
Lori Greiner’s answer highlighted how both intuition and practical analysis drive the Shark’s investment decisions. Her approach to different pitches reflects the value of both a viable product/business and a committed partner for a sustainable investment.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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