Simple solutions to everyday problems - Spanx

This excellent article from The Independent and the videos below provide excellent discussion material for business students on enterprise, market segmentation, targeting new markets (from women to men) and product promotion. Sara Blakely has just been added to the Forbes list of the richest business people and her story shows how a simple solution to an everyday problem, coupled with persistence and a little ingenuity, transformed an initial investment of $5000 into a company still 100% owned by Sara but with an estimated value of $1billion. All this without spending a penny on advertising! Sara sent Oprah Winfrey a pair of Spanx and got a mention on her TV show as a result. She also went on TV shopping channel QVC to sell the products. Sara also shares her top tips for budding entrepreneurs.