Highlights
- Lori Greiner, the “QVC Queen” and Shark Tank investor, recently shared 5 powerful business tips on Instagram.
- Her advice focuses on mass appeal, problem-solving, and product uniqueness.
- She also stresses the importance of low production costs for a long-term profitable business.
Lori Greiner is one of the successful entrepreneurs and beloved investors on the Shark Tank show. She is famous for turning simple ideas into million-dollar businesses.
Lori is pretty much active on social media. She is also known to motivate with her words of wisdom, advice, and insights for entrepreneurs.
Lori Greiner often gives valuable tips and advice on social media. Her millions of followers respect her opinions and insights. Beyond Shark Tank, Lori is also the author of a bestselling book and a paid speaker for major corporations.
She is most famous for her appearance on Shark Tank and her own long-running QVC show, where she won the title of ‘QVC Queen’.
Lori’s Game-Changing Business Tips
Recently, Lori posted on Instagram, revealing five game-changing business tips to help aspiring founders build products with mass appeal, profitability, and staying power.
She captioned the video, “Is your idea a Hero or a Zero? Here are my top 5 tips to tell.” She also outlined five critical questions every entrepreneur should ask before launching a product.
Below are her 5 game-changing business tips.
View this post on Instagram
1. Does It Have a Broad Mass Appeal?
An exciting product should interest a wide group of people. Lori Greiner is always after ideas that interest millions rather than a particular niche.
In case your product is something different that people of a variety of ages, lifestyles, or demographics may want, it has the opportunity to be quite successful. The more extensive your appeal, the more chances there are for high sales and sustainable growth.
2. Does It Solve a Problem?
Most successful businesses begin with solving an authentic problem. Lori reminds everyone that the best products make life easier, more convenient, or more enjoyable.
If customers instantly understand how your product helps them, they’ll buy. Whether it saves time, reduces frustration, or gets the job done in one less step, a problem-solving product has so much more of an opportunity to succeed.
3. Is It Unique and Different?
A product needs to be unique, different from everyone else. Shark always looks for inventions that have a twist about them that makes them really memorable.
Too many similarities between your idea and something that already exists will make your product unattractive.
It is much easier to build a strong brand and attract faithful customers because it is novel, new, or an enhancement of something very old.
4. Can It Be Made at a Reasonable Price?
Lori says that even the best ideas fail if they cost too much. She stresses the need to keep costs low without sacrificing quality. A product should be profitable without being overpriced.
If manufacturing costs are too high, then there is less room for flexibility in pricing and reduced sales. Savvy entrepreneurs find ways to make and distribute their products cheaply without losing value.
5. Does it fill a gap in the market?
Some of the most successful businesses come from spotting an unmet need. Lori advises entrepreneurs to identify gaps in existing industries and create products that fill them.
If customers are already searching for a solution that doesn’t exist, they will be curious to buy. By tapping into an underserved market, businesses can gain a competitive edge and establish themselves as industry leaders.
Lori Greiner’s Tips at a Glance
Here is a quick breakdown of Lori’s five business tips. Know why they matter, and how to use them to evaluate your product idea.
| Lori’s Tip | Why It Matters | Example Shark Tank Business |
|---|---|---|
| Broad Mass Appeal | Products with wide audiences have stronger sales potential and faster growth. | Scrub Daddy: a universal cleaning sponge that works for every household. |
| Solves a Problem | Customers buy solutions that make life easier, faster, or better. | Squatty Potty: solved a common health problem in a simple way. |
| Unique & Different | A memorable product stands out in crowded markets. | Sleep Styler: hair styling made overnight without heat damage. |
| Reasonable Production Cost | High margins allow flexibility in pricing and long-term profitability. | Bantam Bagels: scaled quickly because production was efficient. |
| Fills a Market Gap | Addressing unmet needs gives entrepreneurs a first-mover advantage. | PhoneSoap: tapped into rising demand for UV sanitization long before it was mainstream. |
Why Lori’s Tips Matter for Entrepreneurs
Lori Greiner’s tips are not just business advice but a blueprint for creating successful, scalable products. Her five questions act as a filter every entrepreneur can use to test whether their idea is a “hero or a zero.”
By implementing the above tips, aspiring entrepreneurs can sharpen their strategy and boost their chances of winning on Shark Tank. These can apply to the real business world by focusing on mass appeal, uniqueness, problem-solving, affordability, and market gaps.
