Lori Greiner’s titles include the “Queen of QVC,” a formidable presence on Shark Tank, and a multimillionaire entrepreneur. Her vast experience in the world of business has made her a powerful force with endless insight. In her recent conversation with Steve Strauss, she shared her three unconventional strategies that have helped catapult her to success.
Get Your Hands Dirty
It’s common for entrepreneurs to delegate tasks, but Greiner advocates getting hands-on in all aspects of your business. Don’t shy away from the nitty-gritty details but immerse yourself fully in your business. By personally tackling challenges and learning from your mistakes, Greiner believes you gain invaluable knowledge that would have been lost if delegated to someone else.
Kindness Trumps Confidence
Confidence is undeniably a key trait for entrepreneurs, but Greiner adds that compassion is equally important. In addition to confidence, she encourages entrepreneurs to embrace kindness, compassion, and respect. Treating people well, both within your company and in negotiations, can impact the success of your business.
Beware the Friends and Family Plan
Logically, it might make sense to seek financial support from friends and family when starting your business, but Greiner issues a warning against this practice. Relying on personal connections for funding can lead to unrealistic expectations and strained (or even broken) relationships. Instead, seek funding from investors who understand the complexities of business. They can also offer a point of view that is objective and know exactly how to support you through your entrepreneurial journey.
Greiner’s own success story, such as her investment in Scrub Daddy, exemplifies the benefits of seeking professional investment. Her strategic guidance and industry connections catapulted Scrub Daddy to unprecedented success, underscoring the value of experienced investors.
Photo: Unsplash
