What We All Can Learn from Sara Blakely & Spanx

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I was so excited to see Sara Blakely on the cover of the Forbes Billionaires issue two years ago that I made three trips to Barnes & Noble to buy it.

I've followed Spanx and Sara over the past decade because I'm a business owner and entrepreneur and also because, well, I'm a prime candidate for Spanx. I watched Sara appear on The Donny Deutsch Show, I've noticed her displays expand and expand in Nordstroms. I've helped Spanx grow by purchasing multiple products for myself and my friends. Bottom line, I'm a fan.

When I read the article, I realized there was so much to learn from Sara, that when applied, would help virtually anyone become more successful.

1. Start with what you have. Sara invested just $5,000 in actual money to begin her business. She didn't wait until she got investors, or had more money in the bank. She took the first step, then another, then another.
2. Maximize what you've got. She made good use of the brains God gave her. Since money for legal fees didn't exist, she researched other products and also what she needed to know to get a patent.
3. Make darn sure your attitude rocks! She listened to motivational tapes constantly. Putting good stuff in means good stuff can't help but come out. Be mindful, literally, about what you're putting in your mind, what you're reading, watching, listening to, and who you're talking to (and about what).
4. Notice what works. She changed "spanks" to "Spanx" at the last minute, noting that a unique name seemed to work well. When a product or service you offer gets attention, seems easy to sell, and makes you happy, do more of that.
5. Pay as you go. Rather than taking out a loan, or finding capital, she has let the company fund the company. So she has no debt and owns 100% of the company. In a world that has become over-leveraged, this is a sound strategy that will keep you out of trouble.
6. Stay kind. Sara seems to be lovely and humble. That makes her likable, and makes me want to buy more Spanx! 

Way to go, Sara! Thanks for showing us all how it's done. Cheers to you and your success!

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