"Put your mind to it"—When Shark Tank investor Lori Greiner advised beginners how persistence and confidence can lead to success

Lori Greiner, a longtime investor on Shark Tank, once talked about how persistence and confidence helped her achieve success. In a November 18, 2016 interview with Brian Elliott on Behind the Brand, she mentioned that success is attainable for those who remain committed to their goals.

When asked about what advice she would give to her 21-year-old self, she said:

"I would say go for your dreams go to do whatever you want there's nothing stopping you. I believe that if there is any goal that you have for your career, for your life, all you have to do is put your mind to it and then do all the smart things in which to make it happen. I don't know the word no."

She discussed the importance of confidence in entrepreneurship, overcoming legal and business challenges, and learning from mistakes to make better decisions in the future.

For the unversed, Greiner is known as the “Queen of QVC" because of her show Clever & Unique Creations on QVC. Her website describes her as "one of the most prolific inventors of retail products of our time." The Shark Tank star has marketed over 1,000 products and currently holds 120 US and International patents.

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Shark Tank Lori Greiner’s insight on key factors in business success

The importance of confidence in entrepreneurship

In the interview, Lori Greiner elaborated that most potential entrepreneurs hold back because of self-doubt or fear of failure. Emphasizing on developing confidence, she said:

"I think what I hear people talk about that stops them often is a lack of confidence or a lack of concern. They don’t want to put in the time that it's going to take."

According to her, individuals who hesitate to commit fully to their ventures are unlikely to succeed as entrepreneurs. From an early stage in her career, Lori Greiner recognized her entrepreneurial instincts. The Shark Tank investor noted:

"I always knew that I was an entrepreneur. I wanted to be independent. I didn't want to work for anybody else."

Her strategy was to see where she could use her strengths to excel in a career. She recommended that people see what they enjoy doing and then figure out how to create a business doing it.

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Overcoming business challenges through persistence

Throughout her career, Greiner encountered legal disputes over patents and product designs, which forced her to develop a strong understanding of legal matters. She recalled:

"Somebody might falsely want to take one of my products or one of my patents... Those were really hard stumbling blocks because I had to learn legal very quickly."

These experiences reinforced her belief in persistence as an essential trait for entrepreneurs. Greiner explained that setbacks should be viewed as learning opportunities rather than failures. The Shark Tank investor stated,

"I don’t think I look at them as failures. I look at them as roadblocks."

She also highlighted that resilience is a key factor in her success, explaining that challenges in business do not deter her but instead drive her to find solutions and move forward. She stated

"I'm pretty fearless when it comes to business. Things don't really phase me. I just think, what do I need to attain my goal? If something's an obstacle in my way, I'm going to forge through it. There's always a way to find a solution, and I find them. I make things happen."

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Learning from mistakes and trusting instincts

One of Greiner’s notable business lessons involved a product launch that did not perform as expected. She developed a multi-purpose centerpiece collection that she believed was best suited for holiday sales. However, she was advised to market it for Mother’s Day instead. The Shark Tank investor described the outcome, stating:

"I think we brought in like 100,000 pieces, and I think I sold like 30 for one day."

The miscalculated timing led to a huge unsold inventory, and she first thought of it as a mistake. Although initially unsuccessful, she trusted her instincts and decided to relaunch during the holiday period. The recast timing provided good sales, further affirming the need to trust her instincts.

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Shark Tank airs on ABC on Fridays at 8 PM ET and stream all episodes on Hulu.