Forbes, The Youngest Self-Made Rich Woman, Succeeded By Selling Socks Without Feet.

Sarah Blakley, 41, is the youngest self-made female tycoon on Forbes's richest list.

Such a simple idea has become a billion dollar business.

Blakley did a lot of boring work before she founded Spanx, but according to her, all of these contribute to the ultimate success of Spanx.

Blakley had twice failed in the LSAT exam, so she gave up the idea of law school and began to go to the society to find a job.

"I worked in the delivery department, the biggest fax machine was as big as a photocopier, and I was 22 years old, and my body was very thin," she said. "It's very stressful, and the boss is always asking you what you want to accomplish every month."

When she was 27 years old, Blakley decided to create a product that did not exist, a plastic underwear that controls her figure.

In her own words, her product can not be "pure".

"Or the old-fashioned waist tights with ugly stitches on the toes.

She studied carefully in the evenings and weekends.

The design and existing patents.

When the time came to make her own prototype, she drove back and forth between his home in Atlanta and North Carolina.

Blakley resigned from Danka when he was only 29 years old, and she had two years of thought about creating Spanx.

She gradually became accustomed to little sleep and did not let her colleagues know her sideline.

While continuing her formal duties, she sent the first batch of tights to her hometown.

"I resigned on October 14, 2000," she said. "After two and a half weeks of resignation, I got on the Oprah Winfrey Show program."

When Blakley was busy with her grand ideas, she decided not to tell her friends and family what she was doing, besides her cohabiting boyfriend.

After Spanx was selected as "Oprah Winfery's favorite item" in 2000, the floodgates were opened.

Neiman Markus (Neiman Marcus) and Blunmin Dyer (Bloomingdale 's) department stores sold out all their stockings without stockings.

"In the first year of business, I made $4 million from every $20 product."

She said.

In second years, sales revenue reached $10 million.

But as competitors and counterfeiters flooded the market, she and her growing team knew that they could not eat their old books.

Spanx's product catalog was originally developed in 10 years.

Develop into 200 products.

Only when it is meaningful to the company or meets the needs of users, will Blakley release a new category (such as bra or men's vest).

Today, Spanx's position in the underwear industry is comparable to that of Kleenex (Kleenex) in the field of tissues.

The company's annual revenue is nearly $250 million, with a net profit margin of about 20%.

Four Wall Street investment banks assessed Spanx respectively, with an average valuation of US $1 billion.

The company now operates by a team of 125 people, through 1.15 000 department stores and boutiques in 40 countries.

Selling 200 products.