"I am of the philosophy that if you work really hard and focus on things, you will get there in some form or fashion," Mangano told CNBC.
Mangano's popular products include Huggable Hangers (of which she's sold over 700 million), My Little Steamer and the Miracle Mop, which she began selling in store parking lots in the 1990s. All of her products aim to make life simpler.
One time she sold $2 million worth of products in an hour on HSN, the shopping channel where Mangano has made most of her business so far. Her products are now also in major retailers like Bed Bath & Beyond, The Container Store, Macy's and Target.
"My umbrella advice is go for it," Mangano said. "Because if you don't go for it, you'll never know if you have success in anything, right?"
It is that mentality that launched her career in inventing products to solve life's little problems, like clothes falling off of hangers or steamers that aren't light enough to take on trips.
"I'll see somebody struggling with something, and it doesn't matter if it's ironing or mopping or traveling, my brain just starts to percolate," she said.
Her latest invention is a line of luggage called TuffTech. It has wheels made of the material car bumpers are made out of and the fabric that's used in bulletproof vests.