Entrepreneur Turned Millionaire, Sara Blakely

Sara Blakely is an inspiration on a lot of levels. First, she is a very successful entrepreneur at just twenty-something. Second, shes solved an undergarment problem many of us have had for years!

It Takes a Woman

Young Sara had a favorite pair of white pants that showed off her assets and also her panty line. Control top pantyhose worked, but she didnt like wearing them with sandals; she preferred a naked foot. She tried wearing a thong, but that showed, too. So she took a unique approach. She invented the solution, started a successful business called Spanx, and became a millionaire. Oh, and she didnt have anymore panty lines, either. Thanks to her, none of us have to anymore.

Her original invention was a footless control top tight or hosiery. This gives women control, disappearing panty lines and the ability to show off their pedicure in fashionable sandals. She marketed it to every undergarment manufacture in North Carolina (Unbeknownst to many, North Carolina is the capital of underwear!), but no one showed the slightest glimmer of interest. Then she tackled a list of patent attorneys to get it made herself. They, too, regarded her with skepticism. One lawyer thought he was being scammed by Candid Camera!

So with outside assistance in seemingly short supply, she went to the bookstore and learned all about patents and trademarks, and wrote up the application herself. She still faced obstacles getting a mill to take her business. Then one with a couple daughters who recognized her genius idea finally helped her out. The rest is history.

Her line has expanded since then and includes all manner of undergarments for every shape and size of woman. Two more recent favorites are her Bra-llelujah! and her Power Panties. Spanx, as she called her invention and her company, was a hit. Women flocked to her to buy them. Shes been featured for her invention and her business smarts on shows like Oprah (it was one of her favorite things) and The View.

Strangely, she started out with such a limited budget that she had none left over for advertising or marketing. When she got her first seven-store contract with Nieman Marcus, she called everyone she knew in those seven cities, paid them to go buy some Spanx and talk it up to all their friends. Shes spent countless hours herself in the aisles of department stores explaining the value and benefits of her products.

Many exclaimed in wonder why no one had ever thought of this before. Perhaps its because most undergarment manufacturing companies are run by men, who really dont have the same issues that we women do, now do they? How can we expect them to solve problems they dont have or care about?

Now Spanx is sold in stores like Neiman Marcus, Bloomingdales and Saks. In its fifth year, Spanx is expected to bring in $30 million in revenue this year. You may have seen Sara on the American competitive reality show, American Inventor as one of the judges.

Sara Blakelys story shows that there are still some simple ideas out there that will make a fortune with the right person steering the business. Find a problem you can solve with a product, and you could be the next Sara Blakely!