From what began with some scissors and a pair of pantyhose, entrepreneur Sara Blakely's "Spanx" idea has transformed into a lucrative global business. And it's only gone from strength to strength, with the underwear company having expanded its product range and generated an estimated $400 million in annual sales.
Yet, as with any entrepreneur's journey, a business idea doesn't typically become an instant success overnight. With years of experience as a company founder, Blakely recently revealed some key tips she's learned which would prove useful for any entrepreneur wanting to follow in her footsteps.
"The best advice I would give a female founder looking to launch a female-centric company or product, is to start with the 'Why?' and continue to lead with 'Why'," the founder and owner of Spanx recently told business magazine Fast Company.
On top of that, Blakely says it's important to be "very authentic in your message, stay vulnerable, be yourself through the process."
With initiatives around the world looking to close the gender gap and promote female leadership, it appears that female-led businesses are seeing an upward trend. According to American Express, four in every 10 companies based in the U.S. are now majority-owned and operated by women, which comes in at a sum of 12.3 million businesses in 2018.