“Shark Tank” investor Lori Greiner estimates that over the course of 17 years, she’s created about 500 different products. She owns 120 patents, with more pending.
And, she says, she “knows no no’s.”
In an interview with Daniel DiPiazza of Rich20Something, she discussed the importance of persistence and resilience in successful entrepreneurship.
The author of “Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea Into a Reality,” told DiPiazza:
“For me, my policy is ‘I know no no’s.’ That’s really important.”
“My theory is there is no ‘No, I can’t do this, this won’t happen, this won’t work.'”
“That doesn’t exist. It’s just,’How can I?’ So if you hit an obstacle, go over it, go under it, go around it. Do whatever it takes to get done what you need to get done, because there is always a way.”
And doing whatever it takes might mean trying another approach. Fellow “Shark Tank” investor Mark Cuban wrote in his 2013 book, “How to Win at the Sport of Business,” that while it’s important for entrepreneurs to accept “no” as an answer, it doesn’t mean they should turn tail and go home.
Business Insider’s Richard Feloni explained:
“In his own entrepreneurial career, Cuban says he’s made a habit of giving a standard reply to a no: He’ll politely thank the person for considering his product and will then ask what their specific objections were, and why they may have instead gone with a competing product. If he thinks he has a good counter, he’ll ‘let fly’ to see how they react. If he gets another no, he thanks them and moves on.”
“Always remember what I tell myself: ‘Every no gets me closer to a yes,'” Cuban wrote in the book. “You have to move on and start communicating with someone you know might buy your product rather than wasting more time with someone you already know won’t buy your product/service/idea.”