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Lori Grenier is an inventor and multi-millionaire investor. She is known for her wildly popular ABC show, Shark Tank. She has over 500 inventions and 120 patents. But she wasn't born a successful inventor.
It all started nearly twenty years ago with the idea of an interesting jewellery box.
There are two types of inventors:
Don't fall in love with your idea so much that you don't want to listen to feedback.
Business is business. Sometimes you will have to change your idea to match demand.
You may have many ideas that don't work. That's okay. You just need one idea to take off.
However, to know which one is your million dollar idea, you need to come up with multiple ideas and test and experiment with what does and doesn't work. The idea you think is the best might not be what customers want. You need to be comfortable with failing and moving on.
Beginner inventors and entrepreneurs should learn all the facets of their craft and business firsthand to enable them to make pivotal decisions.
When Grenier had to create over 20,000 pieces of jewellery by hand for her in-store display, she put in the hours. There's no other way.
Entrepreneurs will work 80 hours a week. Being your own boss is much harder work than working for someone else.
If you have an idea, you'll be willing to work 80 hours because it is easier than working 40 hours for someone else's.
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