Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea Into a Reality (39 page)

—N
EIL
G
AIMAN

The days may be long and the work may be hard, but I’m happy. I love doing what I do. There are so many benefits. When I accepted the opportunity to appear on
Shark Tank
, I saw it as a mere extension of the kind of mentoring, partnering, and investing I have done throughout my career. I had been on television for years; I thought it would just be a little more of the same. And yet it has changed my life.

I didn’t set out to become a public personality, but I take my new role seriously. I want to be a good role model. When parents tell me that they let their kids watch
Shark Tank
because they think their children can learn something valuable from it, or that their kids have been inspired to become entrepreneurs after watching the show, that’s particularly touching. It’s nice
that people say
Shark Tank
is a show they can watch together as a family.

Becoming an entrepreneur seems to be a growing trend. Universities offer classes in entrepreneurship now, and I’ve heard that high schools are starting to offer entrepreneurship in their curriculum as well. It’s exciting to think about all the innovative, creative ideas currently percolating that will one day explode onto the market and maybe change the way we all live. People come up to me and tell me how times have been tough, that job security doesn’t exist, but that entrepreneurship has given them the power to take control of their lives and destiny. That’s incredibly good news.

I believe we are all on earth for a purpose. Being kind, giving back, contributing—these are important values I try to uphold. We’re supposed to do good, and if this is one of the ways I can do my part, I’m happy for the opportunity.

That’s what being an entrepreneur is all about—grabbing opportunity. The most exciting thing about that is that when you step through a door of opportunity, other doors start to open. If there is anything you take away from this book, it is this: You can make anything happen if you put your mind to it. Everything you’ve learned from these pages will help you as you take steps toward getting your invention onto retail shelves, QVC, or even
Shark Tank
. There’s no such thing as a yellow brick road. You’re going to stumble into potholes and maybe even into manholes, but when you get yourself out, you’ll be a smarter, stronger, wiser entrepreneur.

You can achieve your dream of turning your brilliant idea into a reality if you’re willing to do whatever it takes, literally. Inform yourself about your product and your market so that you’re a walking encyclopedia of facts and figures. When things don’t go the way you thought they would, find another path to reach
the same end. Do not take no for an answer. If your idea is as good as you think it is, there is always a way to make your dreams happen. Reach for the stars; you might just catch one.

Bringing an invention to life isn’t the only entrepreneurial path to bliss, or the only path to happiness and success. It just happens to be a wonderful and rewarding one for those with the stamina, determination, and courage to pursue it. That is you, isn’t it?

To my husband, Dan. You stood by me, loved me, and made me believe in myself. You have changed my life profoundly. I’ll love you forever
.

ACKNOWLEDGMENTS

There are so many people to thank for helping to make this book happen and for supporting me along my journey. First and foremost I want to thank Stephanie Land, my writing partner, who helped me to put together this book. She’s brillant, a great person, and was ever so patient with my incessant changes. I thank you!

I want to thank Ryan Doherty and his team at Ballantine for their belief in me and all their care and efforts on behalf of this book. I also want to thank Joel Gotler, my literary agent, for all of his help.

Of course, I want to thank my husband, Dan (see
dedication
).

I thank my parents, grandparents, in-laws, aunts, and family for their love, believing in me, and for the values they instilled in me.

I want to thank everyone involved and a part of my incredible team! And a special thanks to Coopie, Ann, Dale, Mannie, Heidi, Patrice, Jack, Phyllis, Cathy, and Julia whose support and devotion have meant so much!

A huge special thank-you to Brien, for your years of friendship. It means more than you can ever know!

I want to thank QVC for their partnership and my many
years there. It’s been a fantastic journey! Bern, for your first piece of advice sixteen years ago!

I also want to thank Mark Burnett and the producers of
Shark Tank
(Clay, Holly, Mark, Lisa, John, and your teams), ABC, and Sony, for having me be a part of this fantastic experience and for the opportunity to be on
Shark Tank
and to give back to budding entrepreneurs.

Natalie, Dan, Andy, Will, Peter, Marshall, and Richard, you have all been great mentors for my legal education. Thank you for your years of support.

My
Shark Tank
entrepreneurs, you know who you are—you’re the best!

Virgil and Kathy D—a special thanks for all you did for my spirit.

Thank you, Mom. I know you’re still watching.

And to you, Dad, for all your support and dedication, from your “mini me.”

I thank all the countless people who have been there, helping me throughout my journey. You know who you are!

NOTES

Chapter 1

  
1
  
Thomas Edison for the phonograph:
Alex Knapp, “Nikola Tesla Wasn’t God and Thomas Edison Wasn’t the Devil,”
Forbes.com
, May 18, 2012.
http://www.forbes.com/sites/alexknapp/2012/05/18/nikola-tesla-wasnt-god-and-thomas-edison-wasnt-the-devil/

  
2
  
Charles Greeley Abbot, who invented:
Application for Abbot Awards:
www.ases.org/wp-content/uploads/2012/12/abbot_app-rvsd-2.docx

  
3
  
Frank Epperson, inventor of the Popsicle:
Lemelson-MIT, “Inventor of the Week,” August 2004.
http://web.mit.edu/invent/iow/epperson.html

  
4
  
“It’s a very small percentage”:
Author N/A, “Avoiding the Inventor’s Lament,”
Bloomberg Business Week
, November 9, 2005.
http://www.businessweek.com/stories/2005-11-09/avoiding-the-inventors-lament

Chapter 2

  
1
  
Mary Anderson invented windshield wipers:
Author N/A, “Mary Anderson: Inventor of Windshield Wipers,” Famous Women Inventors.
http://www.women-inventors.com/Mary-Anderson.asp
.

Chapter 3

  
1
  
Rather than cut shapes out of materials:
Jill Scharr, “The Future of 3D Printing Materials,”
Tom’s Guide
, September 27, 2013.
http://www.tomsguide.com/us/maker-faire-shapeways-video,news-17610.html

  
2
  
which is why another term:
Author N/A, “Three-D Printing Scales Up,”
The Economist
, September 7, 2013.
http://www.economist.com/news/technology-quarterly/21584447-digital-manufacturing-there-lot-hype-around-3d-printing-it-fast

Chapter 4

  
1
  
Unrecycled paper comprises about 40 percent:
Jet Russell, “Recycling to Keep Paper Out of America’s Landfills,”
Greenbusinesswatch.org
, date n/a.
http://greenbusinesswatch.org/blog/recycling-to-keep-paper-out-of-americas-landfills

  
2
  
Apple’s iPhone has 14 percent:
Simon Sage, “Apple Snags 14 percent mobile market share in U.S., Still Behind Samsung and LG,”
iMore.com
, May 2, 2012.
http://www.imore.com/apple-snags-14-mobile-market-share-in-u-s-behind-samsung-and-lg

Chapter 5

  
1
  
When he was interviewed for
Time
:
“Jeff Bezos: Bio: An Eye on the Future,”
Time
, December 27, 1999.
http://web.archive.org/web/20000408032804/
http://www.time.com/time/poy/bezos5.html

  
2
  
Kickstarter was launched in 2009:
Chance Barnett, “Donation Based Crowdfunding Sites: Kickstarter vs. Indiegogo,”
Forbes
, September 9, 2013.
http://www.forbes.com/sites/chancebarnett/2013/09/09/donation-based-crowdfunding-sites-kickstarter-vs-indiegogo/

  
3
  
Increasingly, however, Kickstarter is becoming:
Erik Sofge, “The Good, The Bad, and the Crowdfunded,”
Wall Street Journal
, August 18, 2012.
http://online.wsj.com/article/SB10000872396390443991704577579190431157610.html

  
4
  
such as the campaign to send:
Nick Sohr, “Crowdfunding Tips From Indiegogo and Fundable,” MDBizNews, October 10. 2012.
http://mdbiznews.choosemaryland.org/2012/10/10/crowdfunding-tips-from-indiegogo-and-fundable/

  
5
  
Indiegogo projects only have about:
Chance Barnett, “Donation Based Crowdfunding Sites: Kickstarter vs. Indiegogo.”
Forbes.com
, September 9, 2013.
http://www.forbes.com/sites/chancebarnett/2013/09/09/donation-based-crowdfunding-sites-kickstarter-vs-indiegogo/

  
6
  
People have raised money:
Ben Schiller, “Crowd-funding For Everything Else: Pets, Health Care, College, You Name It,” Fast Company, October 26, 2012.
http://www.fastcoexist.com/1680780/crowd-funding-for-everything-else-pets-healthcare-college-you-name-it
.

  
7
  
Whereas the donations on sites like Kickstarter:
Will Schroter, “Crowdfunding: How Does Fundable Differ From Kickstarter?”
Quora.com
, June 2012.
http://www.quora.com/Crowdfunding/How-does-Fundable-differ-from-Kickstarter

  
8
  
In addition, Fundable brings together:
http://gigaom.com/2012/05/22/fundable-debuts-as-a-kickstarter-for-corporate-set/

  
9
  
And indeed,
Shark Tank
and:
http://www.youtube.com/watch?v=2-4KoO4-xxA

10
  
Kevin O’Leary says:
Alice Daniel, “Inside the Shark Tank,”
Success.com
, date n/a.
http://www.success.com/article/inside-the-shark-tank#sthash.Np34V3IY.dpuf

Chapter 6

  
1
  
Filing for a provisional patent could:
http://www.uspto.gov/inventors/independent/eye/201302/Advice.jsp

  
2
  
Some researchers estimate that:
Kate S. Gaudry, “The Lone Inventor: Low Success Rates and Common Errors Associated with Pro-Se Patent Applications,”
Plosone.org
, March 21, 2012.
http://www.plosone.org/article/info%3Adoi%2F10.1371%2Fjournal.pone.0033141

  
3
  
there is usually a backlog:
Author n/a, “Timing of the First Action Office on the Merits,”
PatentlyO.com
, November 7, 2012.
http://www.patentlyo.com/patent/2012/11/timing-of-the-first-office-action-on-the-merits.html

Chapter 8

  
1
  
Jordan Eisenberg, founder of UrgentRX:
Mark Cohen, “How UrgentRX Crashed the Party at the Cash Register,”
New York Times
, August 7, 2013.
http://www.nytimes.com/2013/08/08/business/smallbusiness/how-urgentrx-crashed-the-party-at-the-cash-register.html?_r=0
.

Chapter 10

  
1
  
Both QVC and HSN command:
http://online.wsj.com/article/SB10001424052748703805004575606463489605440.html

  
2
  
After airing on a TV shopping:
John Grossmann, “A High-End Brand Tries a Different Sales Channel,”
New York Times
, October 3, 2012.
http://boss.blogs.nytimes.com/2012/10/03/a-high-end-brand-tries-a-different-sales-channel/

  
3
  
QVC is known for showing:
Albany Irvin, “QVC Sprouts is Born!”
QVC.com
, March 12, 2012.
http://community.qvc.com/blogs/for-the-home-talk/topic/273982/qvc-sprouts-is-born.aspx;

Chapter 11

  
1
  
As of the end of 2012:
Joanna Brenner, “Pew Internet: Social Networking,”
PewInternet.org
, August 5, 2013.
http://pewinternet.org/Commentary/2012/March/Pew-Internet-Social-Networking-f-detail.aspx

  
2
  
People who raced to the locations:
Brandi Hitt, “Justin Timberlake’s Hidden Albums Treasure Hunt Sends Fans on Finders Keepers Frenzy,”
ABC.com
, May 30, 2013.
http://abcnews.go.com/blogs/entertainment/2013/03/justin-timberlakes-hidden-albums-treasure-hunt-sends-fans-on-finders-keepers-frenzy/

  
3
  
But what really made the difference:
Ben Sisario, “The Timberlake Brand, Carried Along on a Media Storm,”
New York Times
, March 27, 2013.
http://www.nytimes.com/2013/03/28/arts/music/justin-timberlakes-20-20-experience-album.html?_r=1&
.

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.