Shark Tank investor Lori Greiner shared a video clip via Instagram on March 13, 2025, stating secrets to be in the "top 10%." The female entrepreneur talked about how most of the startups fail. She also shared useful information that entrepreneurs can follow to be in the top 10%.
Lori Greiner noted that entrepreneurs should not "wait" for the perfect opportunity. With the initial workable version of your product/ service, one can start later, as they get feedback and improve "as they go."
"90% of startups fail, but let me tell you how you can be in the top 10% that make it. First, don't wait for perfect. Use the MVP approach, minimal, viable product. Launch a workable version, get feedback, and improve as you go. Make $5 mistakes, not $500 ones," the Shark Tank mentor said.
Shark Tank mentor Lori Greiner opens up about how to get started initially and be in the top 10%
The female entrepreneur opened up about startups and how 90% fail due to various aspects. To avoid such, she mentioned using the MVP approach, i.e. Minimal Viable Product. For entrepreneurs thinking to start their business, Lori Greiner advised:
"Start small, test your ideas, run a $5 ad instead of a $500, and figure out what works before you go big. Once you've got the basics in place, build a strong small team that's important."
For the individuals who might look forward to hiring a "ton of people," the female entrepreneur mentioned that more people are not necessary. Instead, she stated that "the right ones" who have similar "passion" and "drive" would be sufficient for your startup. She mentioned staying "flexible" was more important than being "right."
"You don't need to hire a ton of people, just the right ones who share your passion and drive. And remember, it's not about being right, it's all about staying flexible, understanding what your customer wants, and continuously evolving."
The Shark Tank mentor captioned the Instagram video clip with the following:
"90% of startups fail—but that doesn't have to be your story. What's your plan to join the 10%?"
The last point that the Shark Tank judge added in secrets to be in the top 10% was to focus on "customers." As she stated, building loyalty is necessary, and that should be the entrepreneur's priority.
She added that even "big" companies start small and make mistakes. But learning from those mistakes and continuing further was necessary. As Lori Greiner mentioned, individuals following these steps will "one day" reach there and make it happen.
Trending
Fans can stream the latest Shark Tank Season 16 episodes on ABC Network and catch Lori Greiner in action.
Your perspective matters!
Start the conversation
