Sara Blakely — Turning Spanx Into A Billion Dollar Company

The Youngest Self Made Female Billionaire

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Sara Blakely was born on February 27, 1971, in Clearwater, Florida.

At 22, after graduating from Florida State University, she initially planned to become a lawyer but abandoned the idea after scoring low on the LSAT.

She then worked at Walt Disney World for three months and took a job selling fax machines door-to-door for Danka.

By 25, her exceptional sales performance led to a promotion as a national sales trainer at Danka.

At 27, she relocated to Atlanta, Georgia, and began working on her own product ideas.

At 29 Blakely convinced a manufacturer in North Carolina to produce her new product, Spanx, while simultaneously working on the patent and branding. She purchased the Spanx trademark and designed the packaging herself.

By 30, Spanx had generated $4 million in sales, and by the second year, at 31, sales reached $10 million. Blakely also secured a contract with QVC to expand Spanx’s distribution.

At 35 she launched the Sara Blakely Foundation, aimed at empowering women through education and entrepreneurship.

At 41 Blakely became the youngest self-made female billionaire.

By age 50 in 2021, the Blackstone Group acquired a majority stake in Spanx, valuing the company at $1.2 billion. To celebrate, Blakely gifted her 750 employees $10,000 and two first-class plane tickets to any destination of their choice.

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Lesson from Sara Blakely

The power of not knowing.

Sara Blakely didn’t have a background in fashion, business, or law. This lack of expertise might have seemed like a disadvantage, but she turned it into her greatest strength.

Instead of following the "rules" of how things were traditionally done, she approached challenges with fresh eyes and an open mind.

Not knowing the limits of the industry allowed her to create a product that disrupted it.

Her inexperience became her advantage because she wasn’t confined by the norms or bound by preconceived notions.

She didn’t fear the unknown. She embraced it.