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The James Altucher Show

Ep. 211 - Sara Blakely: How To Get a Billion Dollar Idea

The James Altucher Show

James Altucher

Education, Business

4.62.7K Ratings

🗓️ 7 February 2017

⏱️ 80 minutes

🧾️ Download transcript

Summary

Sara Blakely is weird. I wish I could think like she does. I want to be weird like her. "I look at any object and try to think of any use it has other than what people had planned for it." And then she acts on it. She sees a pair of pantyhose, cuts off the feet (why not?) and creates a multi-billion dollar company, Spanx. She sees her 9 month pregnant belly and paints a basketball on it. And then inspires hundreds of other women to do the same. Creates a book out of it: The Belly Art Project, and donates the proceeds to charity. "All my life I was taught how to deal with failure," she told me. "My dad would ask us at the dinner table every night: how did you fail today?" HOW DID YOU FAIL TODAY? She got comfortable with failure at an age when every other kid wants to get an A+ at everything. She got comfortable embarrassing herself. For two years she tried to be a standup comedian. "I wasn't very good at it." Practice embarrassing yourself... Ready. Fire. Aim. She got a huge order from Nieman Marcus even though she didn't have the inventory or the production ready. She said, "YES!". Then she figured out how to get the order filled. Oprah listed Spanx as one of her "favorite things" of 2000. Oprah wanted to film her office. Sara had no office. She said, "YES!". Then she got an office and filled it up with people. Say YES! Then make things happen. Don't argue yourself into failure. Excuses are easy. Saying "yes" and then executing is hard. Get your thinking time. "It takes me five minutes to drive to work," she told me. "But I take 45 minutes. I use that time to think." It's important to think. To be creative every day. This is how she comes up with non-stop ideas to expand her brand, expand her products, and work on other projects. I suspect this is the secret for how she always sees things differently. Being creative is a practice. It's not lightening from above. It's taking the long route when you could've taken the short route. Purpose = Infectious salesmanship. While I was talking to Sara she used the word "empower" several times. Spanx clothes gives women more confidence. Empowers women. The Belly Art Project empowers pregnant women. It seems like there are three parts to a project that leads to master salesmanship. - the higher purpose for it. This gets people excited. - the actual product and its benefits. - execution Combine all three and people will get infected with your passion for your ideas. Sara was unstoppable. Don't volley. Don't engage with the people who want to argue with you. That's time wasted when you can be creative. Don't invite ego in the door. Once you've worked on your project, have passion for it, started it, be willing to take suggestions and listen to people. Ego can kill a project and close the door on good opportunities. Be aware of you mortality. Sara was selling fax machines for five years before fully launching Spanx. She could still be selling them if she never started. If she listened to all the people who tried to dissuade her. If she became afraid of the multi-billion dollar companies that could have easily squashed her. Except they didn't. She was one person and they were billions. But they lost. We are here only this precious small amount of time. Make every moment a work of art. Make every moment move you one step forward towards your dream and purpose. Invent a new undergarment even if you had never made clothes in your life. Get 100s of women to paint their pregnant bellies and then raise money for charity with the idea. "EVERYTHING IS A CANVAS," she told me. Which makes everyone a potential artist. What a great way to look at life. But I can't! Why not? For anything you want to do, for anything that excites you, take the time to figure out the next step. Ready. Fire. Aim. Just why not? Why not? ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and... See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0

This isn't your average business podcast and he's not your average host.

0:06.6

This is the James Altiger Show on the Choose Yourself Network.

0:12.4

Today on the James Altiger Show.

0:15.3

I call called Neiman Marcus so I called them on the phone and I said I'm Sarah, I invented

0:20.6

a product, give me 10 minutes of your time and I'll fly to Dallas and you know she just

0:26.4

kind of said well if you're willing to fly here I'll give you 10 minutes.

0:28.9

But in those 30 seconds that I had with her the first thing I said was I'm Sarah I invented

0:34.2

a product that is going to change the way all of your customers wear clothes and they won't

0:39.1

be able to live without this.

0:41.2

You know and she's like what?

0:42.8

What is this?

0:43.8

And then what happened is I show up and she's like first of all impeccably dressed.

0:47.8

This woman is like Neiman Marcus headquarters in Dallas.

0:50.4

Please go pen, match her belt, it matched her shoes.

0:53.2

I'm sort of disheveled five minutes into it.

0:55.6

I'm totally losing her.

0:56.8

I mean and that's when I just stopped in Leendon and said you know what you need to come

1:00.8

to the bathroom with me.

1:02.5

And she was like what excuse me I'm like please I know it's a weird request but when

1:06.6

you come to the bathroom with me I'm going to show you what my product can do.

1:10.7

And she followed me down the hall and I went in the stall with and without spanks on with

1:15.4

these cream pants and she took one look at it and goes it's brilliant I get it and I'm

...

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