In a sea of fluffy inspirational books and motivational business monologues that carry name-brand weight, but lack substance, Lori Greiner’s new book Invent it, Sell it, Bank it!: Make Your Million-Dollar Idea Into A Reality, accomplishes something rare: It not only tells you what it takes to invent a product and bring it to market – it actually teaches you how to do it.
The actionable advice comes from someone who truly knows her way around the product world. Greiner, who is the star of ABC’s hit show Shark Tank, has been creating products since 1996. She now has close to 500 inventions under her belt, and over 120 patents. As she astutely observes, there are two types of inventors: The Margaret Mitchells of the world, who create one “master work,” and the serial inventors, who relish the thrill of coming up with a new idea and breathing life into it. Obviously, Greiner is the latter.
Her books runs the gamut, providing everything that an aspiring Edison would need to succeed in today’s market, leaving out the unnecessary or outdated, but also adding a distinct touch of personality.
First, you’ll learn how to determine if your idea is a “hero” or a “zero” – a distinction that Greiner says can sink most entrepreneurs before they begin. Then, the step-by-step framework guides you through detailed market research, an in-depth tutorial on getting funding, and the truth about patents.
In her chapter on pitching, Greiner’s experience as the “warm-blooded” shark on Shark Tank really shines through as she removes the veil on one of the most mysterious elements of the invention process: The anatomy of a “perfect pitch.”
Have you ever wondered exactly why certain products successfully make it into the Shark Tank and get create a feeding frenzy, while others flail in the water? Invent it, Sell it, Bank it! removes the mystery.
But be warned, you may be surprised by the real reasons why some pitches are so successful. In her analysis of greatest hits, Greiner also reveals the word-for-word scripts she used to pitch some of her most successful products, along with instructions for you to do the same with your ideas.
One thing that sets her book apart is an ideology she calls “Extreme DIY.” The concept is obvious, but not always intuitive. Simply put, beginning inventors and entrepreneurs need to learn every facet of their craft and their business firsthand in order to make the pivotal decisions. Just wait until you read why even as her first product was seeing success, she had to create over 20,000 pieces of jewelry by hand for her in-store displays. There are no secrets here. You have to put in the hours.
Greiner goes into specific detail about everything that it takes to keep the business running after the idea phase, including packaging, manufacturing and retail distribution – including exactly how she overcame real-world challenges early in her career.
For beginning inventors or seasoned veterans alike, her insight is invaluable.
If you’ve always dreamed of creating a product and seeing it become a reality, or you’re looking for a competitive edge to take your product to the next level, this book will teach you how in a step-by-step format that’s easy to understand and fun to read.
PS – I did an exclusive interview with Greiner that goes into some of her most in-depth strategies. Click here to get FREE access to the full HD video when it comes out.
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