How I Built This

One of the highlighted stories in the podcast, “How I Built This” is the story of Chip Wilson, the owner of the brand Lululemon Athletica. The podcast is an entrepreneurial story that showcases innovativeness and deep thought based on matters that happen around an individual. In the 1990s Chip Wilson was just another broke individual. He was however interested in current news, from where he learned that people were signing up for Yoga in instrumental numbers. All at once, he thought that the people who practiced Yoga had peculiar athletic wear which they were required to be in while training and practicing Yoga. It was from that point where Wilson thought of establishing a small kiosk concentrating on the spectacular fashion wear. The brand has since grown and is now a multi-billion entity that focuses on sportswear for young women. It is also a unique brand that is an attraction to many clients across the globe. The story of Wilson teaches me a couple of entrepreneurship lessons, where one is noticing whatever happens around me, to risk upon noticing a good venture, not fear to start from a low position and to also be persistent while building a brand.

When Wilson decided to follow in the statistics of people who were signing up for Yoga, the practice just looked common. To most people, signing up for Yoga was just like signing up for any other sport. Most people around Wilson thought that the sport was just fresh and that people were just excited about it. Wilson, on the other hand, being an entrepreneur saw a business opportunity. From Wilson, I learned that entrepreneurs are always careful of whatever happens around them. They do not assume the minor occurrences as they could be business opportunities. From the story, I will be cautious with activities that occur around me such that I can evaluate whether they can make viable businesses. I acquired the sense of being analytical such that I will be evaluating, for instance, the number of potential customers to the product or service such that I can always evaluate whether a manageable business can be established or not.

Wilson’s story is that of an individual who did not fear to start in a lowly position. Once he encountered thought of establishing a business that dealt with sportswear that could be used in Yoga, he did not have sufficient capital to start a big business. He started with just a small outlet that probably would be assumed by many. Other people would also scorn him and wonder why he did not start some other business like a kiosk and concentrated on apparel. Wilson had however identified that starting small would cost him self-esteem among other issues. However, the very thought being scorned could not stop the entrepreneurial mind in him. Wilson believed that he could still rise up. From Wilson’s story, I learned the many opportunities that people lose just because they fear to start their businesses as small businesses. From Wilson however, I noted the need to concentrate on the personal conviction while starting a business and not focus on what others say. I will, therefore, use this principle when thinking of future business encounters. 

Another thing I learned from the story of Wilson is the need to risk and maintain persistence when establishing a business. In the podcast, Wilson quotes that he used all his life’s savings while establishing the business. He recalls that all he feared risking all his money in the encounter. However, when he thought of his goals to become a rich businessman, he could not help but place everything dear to him in the encounter. He also recalls that the business did not perform that well in the first year, an occurrence that almost frustrated him to quit. He, however, decided to persist and continued building the business to the place where he is. The thought of a risk taker like Wilson marvels me. He is a  man that could place all his savings in a business venture whose result he did not know neither could he predict. His story made me reflect on the many risks in business that I have feared to take. It was, therefore, a story that strengthened my resolve to be a risk taker once I think of another business and persist even when I feel like the encounter may not succeed. 

In conclusion, the story of Wilson, a man who saw an opportunity in increased sign-ups in Yoga as a business opportunity; I learned how to be careful with my surrounding to note business opportunities. At the same time, I learned to take onto my dreams and start small regardless of the views of others. I also learned that risk-taking while thinking of any business encounter is necessary. I will from his story therefore not fear to risk my savings whenever I think that a business opportunity is viable and persistently grow the business. The podcast was consequently a great encouragement and a resolution-founding encounter.

References

How I Built This with Guy Raz. (2019). Retrieved from https://www.npr.org/podcasts/510313/how-i-built-this