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How to Stay Innovative?

Written by: Tom Peters

Article Overview: Sara Blakely, a local Atlantan, started the company Spanx out of her apartment. After several failed attempts to find the right undergarment to hide imperfections and panty lines when wearing white pants with open-toed shoes, she decided to cut the feet off her pantyhose. This worked beautifully! So, she wondered, why doesn't this already exist?

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How to Stay Innovative?

[Darci Riesenhuber gives us the entry below. She was excited to meet this person, and she wants us all to know her story and perhaps provide some feedback.—CM]

Sara Blakely, a local Atlantan, started the company Spanx out of her apartment. After several failed attempts to find the right undergarment to hide imperfections and panty lines when wearing white pants with open-toed shoes, she decided to cut the feet off her pantyhose. This worked beautifully! So, she wondered, why doesn't this already exist? Rather than wait for someone else to get the credit, she decided to research it, patent it, manufacture it, and distribute it, all on her own, since everyone she pitched the idea to thought it was laughable. (Not surprising ... can you imagine ... she was pitching the idea to men.) After 2 years of effort, including research, cold calls, door to door sales, and a prototype, she got her first distribution contract with Neiman Marcus and a spotlight on the Oprah Winfrey Show. (You might even have seen her on The Rebel Billionaire, the reality TV show with Richard Branson.)

Currently, with over 40 different products, Sarah is well on her way to a $30M (solely owned) company. Her biggest challenge right now is how to stay innovative and ahead of her competition as her company continues to grow. So, my question to readers is this: How do you keep the entrepreneurial, innovative, risk-taking spirit alive as you expand from a small to a large company?

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Home > Entrepreneur-Advice > Tom Peters > How to Stay Innovative
Article Tags: 30m, atlantan, different products, distribution contract, failed attempts, imperfections, neiman marcus, open toed shoes, oprah winfrey, oprah winfrey show, owned company, panty lines, pantyhose, prototype, reality tv show, rebel billionaire, richard branson, sara blakely, undergarment, wearing white pants

About the Author: Tom Peters
RSS for Tom's articles - Visit Tom's website

Tom & Bob Waterman coauthored In Search of Excellence in 1982; the book was named by NPR (in 1999) as one of the "Top Three Business Books of the Century," and ranked as the "greatest business book of all time" in a poll by Britain's Bloomsbury Publishing (2002). Tom followed Search with a string of international bestsellers: A Passion for Excellence (1985, with Nancy Austin), Thriving on Chaos (1987), Liberation Management (1992: acclaimed as the "Management Book of the Decade" for the '90s), The Tom Peters Seminar: Crazy Times Call for Crazy Organizations (1993), The Pursuit of WOW! (1994); The Circle of Innovation: You Can't Shrink Your Way to Greatness (1997); and in 1999 a series of books on Reinventing Work: The Brand You50, The Project50 and The Professional Service Firm50. In 2003 Tom and publisher Dorling Kindersley released Re-imagine! Business Excellence in a Disruptive Age; the revolutionary book, an immediate No.1 international best seller, aims to do no less than reinvent the business book through vibrant, energetic presentation of critical ideas.

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