How To Become a Billionaire

Did you know that Sara Blakely, the creator of Spanx, is worth a billion dollars? She is also the youngest woman to grace Forbes Magazine Billionaires List.

And it all started with a mere $5,000 and a desire to fix the current problem pantyhose presented: visible seams at the toes and an unsightly puckering at the waistline where the pantyhose ended and your stomach began.

How can you, as an entrepreneur, mimic Sara’s process?

• Keep Motivating Yourself. Sara started reading self help books at a very early age, which helped propel her into the proper mindset for always believing that if you set your mind to it, you can accomplish your goals. She trained her mind to always look for opportunities in life, so that when an idea came (Spanx) she would be ready to act.
• Be Good At Sales. Your idea won’t go anywhere unless you have a way to sell it. “Sales” tends to have a negative connotation, but if you truly believe in your product, you will never have to learn how to sell it. Your passion will do that for you.
• Solve A Problem. Sara realized that women everywhere were having a hard time with pantyhose. They weren’t comfortable at the waist, creating a muffin top effect that was unattractive. Plus, the toe seams were visible which limited what type of shoe a woman could wear. So Sara created a product that eliminated those issues, but still gave the same effect of shape wear that women desired. This was the first time someone had attempted to solve this problem for women!
• Prepare. Know everything about your product and how it is made. Research patents, previous attempts at the same product, related products, etc. Then, based on your knowledge, create a product that you would love and use every day. If you don’t stand behind your product 100%, how can you convince anyone else to?

I find Sara’s story so inspiring. $5,000 ten years ago has now erupted into a billion dollar company. All because of a simple idea that she pushed into fruition.

What motivates you about this story? Do you have any ideas that will solve a problem for the public? Now is the time to act! I hope you use Sara’s story as motivation to bring your ideas into reality.

tags: Blog,Uncategorized,billionaire,entrepreneur,sara blakely,spanx