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Spanx founder Sara Blakely on the road that led her to become the youngest self-made female billionaire in the world.
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My next -- up 5000 dollars and awesome idea and a whole lot of hustle and turned it into.
The company worth.
About a billion dollars but not only is -- the youngest self made female billionaire the world.
She's on the cover -- board's annual billionaires list Sarah Blakely is on the cover and she is here but she founded its banks.
Sarah highlights on the and friends of mine and I talk about this having a great moment like can you imagine did you ever imagine like when -- an eighth grade reading in the -- What I'm wearing my headgear and I have picked -- it out I cannot imagine -- -- great moment that but like did you aspire to to this to owning parent company to doing something in.
This -- -- actually.
Always wanted to be an attorney and -- a terrible test taker and I did horribly on the -- sat and so kind of nudged -- in a different.
You know course in my dad's a lawyer my -- as a lawyer.
But I would say that once I did not do well on the -- Scott and I sold fax machines door to door for seven years -- did so much visualization.
Of me being self employed.
I knew I could sell so I kept saying come up with an idea just give me that I DS I can sell it to millions of people.
And so -- on the lookout for an idea I was on the look out for an idea I had been visualizing it for a long time.
I had it all mapped out I'd written it out on Paper and so the day accept defeat out of control -- -- he has said thank you got it.
And run in with that -- women -- cutting a few other -- for years and so people say why do you why is it different.
I think it's because I had been mentally laying the ground work.
Four and ending fact it was -- it.
It was right around the time that you founded the company Arab I went to multiple departments -- -- here in York city looking for what they call foundation comments back and there wasn't nothing existed.
-- -- -- -- Yeah they've literally mocked may well that's what happened me when I invented it I had these white pants I went to all the department stores -- -- 27 at the time I grew up on a beach that never bought -- -- -- -- like.
What are we supposed to Wear under these white -- just spent my hard earned money on him.
And they -- showing me these garments that look like workout clothes that were so big and bulky shapewear at that time just didn't make sense into the close.
So the concept of taking and making -- out of -- has material -- the materials so thin.
Is what filled that niche for wind and we -- always the salesman really good at it from the get go 'cause I sometimes think that.
That that you're born with it.
You know hot well I had -- the from my training at thank -- fax machine started army had to.
Learn how to open doors quickly and what worked what didn't work and I would say that yes from the very early age I was -- -- her I was the girl in the neighborhood always dreaming up that businesses in -- create things and sell them.
But I didn't.
You know and tell after I didn't do well on the else that really started putting had to -- -- -- really what are my strengths.
And I knew I could sell and what can I do with this and I ousted really wanted to consultant -- And also financially independent as a woman if you have to look.
Back -- pick like.
One decision that you made that got the company and you to where it is today what was it because I I wanna get until later.
I know how aggressively.
Defended.
And defended this day to trademark.
And the patent.
So I wonder if there's one thing that one decision you think that was like not more important than any other.
I mean I think in the beginning part of the journey ironically the most important decision was that I didn't tell anybody for validation purposes.
I think ideas are the most vulnerable in their infancy the -- you happen and people have million dollar billion dollar ideas daily.
But what happens is the minute you tell your friends and loved ones you spend all your time having defended rather than pursue it.
So I kept to the -- for one year I worked on it privately at night in on the weekends and after one -- -- I don't my friends of him economic OK.
But yet that -- -- So I think I -- if I hadn't done that limits to be selling fax machine it's so much what it was Payne it is it's.
It is men men so it is undergarments it is shape where it is everything.
How do you continue to grow -- -- know that your focus on international markets but.
How do you see the brand five years now and I know that's where your -- probably -- and I don't wanna.
Well you know the men's.
A going to -- and now recently active Wear for women I think what inspires us it's banks is how can we make things better.
The men's undershirt for example have been the same for 100 years nobody -- paid any attention to it it's box seats bulky it's not necessarily a clean look under suits.
So we decided to take it tapered in at the waist.
-- some like curve for a little bit of the support around the stomach area -- -- -- giving Menlo -- support.
And that's who we get an inspiration we sit on ago why can't this be more comfortable or why can't act of pants that that are why -- they make you look a little more turned -- you're trying to get him.
Do you do you want -- cash now you want to because you 100% this company and as you grow.
What -- is the likely that you think -- bring in outside money.
Why I said and Forbes mentioned in the article it's the first time in the -- I've ever even entertained it.
Doesn't mean I'm necessarily actively looking for that but I've always been definitively like no thanks.
But because it's such big plans for the growth this -- it's now in forty countries where opening up a retail shop plan slowly slowly.
But -- I've been self funding this from the start so I just wanna constantly check in with the company in my gut.
On when it might be the right time to bring an outside investors to hope that growth.
Even you know at the right time and faster.
Government and of winning government as a constant source of conversation and an thanks in this country -- and this is our question of the hour.
Do you think that America still the best place to start -- business and run a business.
I do.
Do you worry about how.
-- 5000 dollars on average ticket business and I'll that you get this country's amazing you're knocking on I mean we can go in a threat tell people to read the Forbes article and I knew I knew it from heart like -- yeah I know I know I was like I can tell you that I.
But like going to ask birth story and a going to remain in markets.
And try to tell them goofy and now and descended on the descendants banks to Oprah Winfrey stylist and wandered outside -- and as I can I can authenticate -- our story but.
-- -- Do you worry about regulation.
Too many regulations.
I -- data not so worried about making -- that -- I have spent a lot of time working about regulates it did what they.
Not just -- but a proposed gun and the client -- pilot let's anxiety.
It's but it.
-- how how important -- that you're still.
How much you have so these guys.
In terms of been out there like how much and it's time -- you -- and you know honestly.
A brand that we've never advertised formally and sell us sort of -- wait it was on my shoulder so much in the beginning to get the word out there.
And now I'd I believe with all the celebrities mentioning -- -- such an amazing team its banks and in -- -- and alternate spokeswoman that's helping young QVC and more and more I think that the brand and the stories to standing on its sound and perpetuating the interest in the brand.
And I just continue to help the team dream up ideas but.
It's really great because now the -- calling you with ideas and have been for a long time on like I never would've thought about that's amazing.
-- -- -- Thank you congratulations thank you -- let's and they don't think more about regulations now I don't know please.
Lift up arrows thank you think if you're welcome back and it's not disclaim all -- you don't have to be here an -- yard this call land had just talk next time -- next time I wanna be interviewed by -- in the guidance and -- banks.
I thought I want -- for the modeling for these.
But it.
You -- -- doesn't happen to has got to be something else we can.
-- are burning question.
