Not a long time ago, Sara Blakely was selling fax machines from door to door. But her life is different now. Sara Blakely is an inspiration for women all around the world. She is the founder of Spanx, which is a shapewear brand. And she is continuously working on her product lines including new categories and products. Today her products are available in the markets of approximately 65 countries. She is a self-made billionaire and nothing short of an inspiration.
There are many things which you can learn from her. For entrepreneurs who are looking up to her here, we have some tips from her.
Some Lessons From Sara Blakely
· You always have to believe in yourself and your idea. No matter what the situation is, make sure you trust your instincts. Sara Blakely, in a recent interview with Forbes, said that she had to hear no a million times. But that didn’t mean that she did not believe in her idea. You have to be courageous enough to stand by her plan. And no matter what happens, you have to keep going. You will have to keep pushing yourself and your dreams to get the best results. Despite hearing no a million times, you should keep on working hard.
· It is essential to do your homework as an entrepreneur. Blakely was not someone with a business degree. And she did not even have any previous experience in the market. But to gain knowledge, she started reading many books and made it a habit to visit the library regularly. She did proper research before she was ready. You must find a patent attorney. Blakely visited many attorneys and then wrote her patent through research.
What Else Can Help You?
· You have to do multiple cold calls to set up meetings with your potential stakeholders. Things are not going to be easy, but with the proper process, you can make it better. You will have to visit stores, check for competitors, and much more. Blakely went to hosiery mills and numerous fabric stores to find the right material and stakeholders.
· Another important lesson which you can take out from her life is you should try to stay out of debt. Blakely did not leave her job with Spanx. Initially, she was working while managing her new business. And because of this, today she does not have any debt and owns the full stakes of the company.
· You have to make sure that you come up with a trademark which is beneficial for you as well as your business. In Spanx, she has the sassy “X” to add some spice to it. She did proper research to come up with the name. And so as an entrepreneur it is essential that spend a lot of time while figuring out things which have to take care of. The name and the brand of your business are also extremely important. You have to come up with a name which will be easy to remember and also will be catchy.