Sara Blakely, who had hoped to become a lawyer, had to abandon that dream after scoring low marks twice on the LSAT examination. She then worked briefly at Walt Disney World while trying her hand at stand-up comedy, before joining the Danka company where she took up a job selling fax machines door-to-door.

Working in that field for seven years, she faced fierce rejection from customers. Although some people even tore up her business cards, she pressed on undeterred and earned a promotion to national sales trainer at the age of 25.

Key Points

  • Worked in a fax machine sales job for seven years after failing the law entrance examination.
  • Founded Spanx in 2000 using her own savings of 5,000 dollars.
  • Named by Forbes magazine in 2012 as the world's youngest self-made female billionaire.

How a new idea was born

In 1998, when she wanted to wear white trousers to a party, she cut the feet out of a pair of control-top pantyhose to achieve a smooth look underneath. However, the rolled-up edges caused discomfort, leading her to identify the need for comfortable, footless shapewear.

Moving to Atlanta, she spent two years researching fabrics and patents while still working her day job. Investing all of her 5,000-dollar savings, which had been set aside for travel, she drafted the patent application herself and registered the Spanx trademark. A factory owner in North Carolina agreed to manufacture it following encouragement from his daughters.

Conquering the market and tasting success

In 2000, she walked into a Neiman Marcus store and secured her first order by demonstrating the product's difference in person inside a fitting room. Later, a gift basket sent to Oprah Winfrey resulted in the product being named one of her favourite things. Without conventional advertising, the business recorded revenues of 4 million dollars in its first year and 10 million dollars in its second.

Having run the business for 21 years without outside investors or debt, Forbes magazine named her the world's youngest self-made female billionaire in 2012. In 2021, Blackstone acquired a majority stake in the company at a valuation of 1.2 billion dollars, with Sara continuing to serve as executive chairwoman. She is also currently engaged with a stake in the Atlanta Hawks team, the Sneex brand, and the Sara Blakely Foundation.