Starting her career with a simple, yet practical first invention, she went on to blow her competition out of the water.
Here’s what you need to know about the entrepreneur who’s setting the bar high for women everywhere.
1. She’s Created Over 400 Products
— Lori Greiner (@LoriGreiner) March 12, 2014
In 1996, she invented, patented, produced and marketed her first product – a plastic jewelry organizer for earrings.
She was inventing it solely for practical reasons, never thinking it would lead to international recognition.
She told philly.com:
…I had a lot of jewelry that was just thrown in a box, and it was a mess. I couldn’t find anything. I really just thought it would be great to find a solution for my earrings so I could find what I wanted.
During her first cable TV appearance, she sold 2,500 earring organizers in just two minutes.
With an estimated net worth of over $100 million, she now owns 120 U.S. and international patents.
2. She’s Called the ‘Queen of QVC’
Her QVC show, Clever & Unique Creations by Lori Greiner, has been on the air for 16 years. In fact, when she first went on Shark Tank, it was to find items to sell on that show.
When asked which item from her QVC collection she would take on a desert island, Greiner replied:
My Silver Safekeeper Mirrored Jewelry Cabinet- I could take the door off of it, use the cabinet as a canoe and the door as a paddle. If nothing else, I’d be well accessorized for any beach parties.
The QVC site sells her jewelry storage containers as well as the products she helped back on Shark Tank.
Besides television, she expanded her empire to include a book, Invent it, Sell it, Bank it!: Make Your Million-Dollar Idea Into A Reality, which was released in March.
It is a behind-the-scenes looks at her life on Shark Tank and QVC.
3. Her Nickname Is the ‘Warm-Blooded Shark’
She’s sympathetic to the people starting their business because she realizes she was once in their shoes. In an interview with Celebuzz she said:
I started with one product, had a dream, and I can still remember it like yesterday. It meant everything to me. So went people come down to Shark Tank, I’m very aware of that.
Even though her and the other investors on the show are actually competitors, they do get along.
She said, “But we all really like and respect each other. After we’re done taping, we’ll all go out and have a drink together.”
In an interview with the New York Times, Greiner weighed in on why she thinks the show is so successful:
In a down economy, a time where people are feeling that things are difficult, hopeless, they’re worried they might lose their job, they tune in to Shark Tank, and they learn about how to possibly become their own boss.
4. Her Husband Is Her Chief Financial Officer
Daniel Greiner, Lori’s husband, manages the finances of For Your Ease Only. He was an assistant controller at the former Bell & Howell Co. before he joined his wife in business.
“I thought ‘This is going to be big,'” he said.
The pair, who met at the Lincoln Park bar Kincaid’s, now own two homes, one in Philly near the QVC studio, and another in Chicago, where her products are shipped.
Family is important to her. In fact, she was supposed to join Shark Tank as part of the original cast, but her mother passed away, so she waited to join until Season 3.
She told Chicago Business that her mother did inspire many of the creations and was her biggest fan.
“I miss her. She was my best cheerleader. . . . She watched every single one of my shows,” she said.
Although she doesn’t have children, she still enjoys their company. She said, “…I tell my friends they can leave their babies on my doorstep and I’d be happy to take them in. I love kids!”
5. She Created an App Called Hero or Zero
Got a great idea? Review the "Hero or Zero" checklist from The Shark Tank's Lori Greiner! pic.twitter.com/sRTo9mRIWc
— Jeanie Winkelmann (@wonderaway) March 11, 2014
The business guru is known for saying, “I can tell instantly if something is a hero or a zero.”
Therefore, she created an app to share her talent with the world.
Hero or Zero helps you judge whether your product or business idea is good or bad.
She told inc.com that in order for product to be a hero, it needs to incorporate all these three things:
Does it solve a problem?
Can you sell it at a reasonable price?
Is it appealing to the mass market?