"Idea a hero or zero" — Shark Tank investor Lori Greiner reveals five tips to identify business potential

Shark Tank investor Lori Greiner recently highlighted that the first step in the world of entrepreneurship is to determine whether an idea has true potential or not. On February 6, 2025, she posed a crucial question in an Instagram post:

"Is your idea a hero or a zero?" she asked.

The Shark Tank investor provided five tips to determine whether an idea has the potential to create a difference in the market. According to Lori Greiner, finding the right idea depends on the evaluation of several factors that establish mass appeal, problem-solving ability, uniqueness, cost-effectiveness, and market demand.

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Evaluating your idea: Shark Tank investor Lori Greiner's five essential criteria

In her Instagram video, Greiner emphasized five core questions that every entrepreneur should ask before executing a business idea. She mentioned that these tips will serve as the foundation for gauging a product's market readiness. She said:

"One, does it have broad mass appeal? Two, does it solve a problem? Three, is it unique and different? Four, can it be made at an affordable price? Five, does it fill a gap in the market?"

The Shark Tank investor explained that an idea with "broad mass appeal" can reach the masses, rather than a niche market. Successful products typically fill a need or solve a problem, and the idea that solves a problem for consumers can really make an impact, and drive demand.

She also advised that the product should be affordable to manufacture and sell, allowing for profit margins while remaining accessible to the target market. Greiner further explained that identifying a gap in the market can provide a unique opportunity and hold great potential for success. As Greiner stated:

"Think about it, if you can check all five of these boxes, your idea could be a hero."

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Insights from Lori Greiner's experience on Shark Tank

According to Business Insider, Lori Greiner has over 400 inventions and more than 120 patents. She has heard thousands of pitches from entrepreneurs looking for investment on Shark Tank.

In her a book titled Invent It, Sell It, Bank It!, which was published in March 2014, Greiner outlined the essential elements of a successful pitch. According to Greiner, investors and buyers often want a simple, easy-to-grasp explanation. She said:

“A great pitch is when a person can describe what their business or product is within two sentences.”

Greiner noted that an excited and passionate pitch can help capture the attention of the audience. The Shark Tank investor wrote in her book:

“Any time you can make a buyer laugh or engage, you’re a step closer to getting a deal.”

Greiner also emphasized the need to have questions prepared to ask in return. She mentioned that investors need to know every detail concerning production costs, market research, and much more.

Greiner shared several more insights in her book on how to craft a standout pitch. as per Inc magazine. She mentioned that one must have data and facts ready to support claims about their business. She advised entrepreneurs to rehearse their presentations until they become second nature.

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For more business insights and inspiration, tune into Shark Tank every Friday at 8 PM ET on ABC. Don't miss a new pitch and deal every week—stream the episodes anytime on Hulu.