CW

Chip Wilson

06/10/23

@ Tony Robbins

To be the best in the world at something, every aspect of your business, from logistics to marketing, must also be the best to prevent competitors from entering your market.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I learned that there's a seven-year arc in business, where a company can grow from nothing to a significant player, but then face challenges from competition and market changes.

CW

Chip Wilson

06/10/23

@ Tony Robbins

After 18 years of not making money with my first company, I realized that success takes time, similar to how Airbnb took years to become profitable.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I sold my first business because I recognized the right time to exit, especially when I saw the market for snowboarding declining due to economic changes in Japan.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I reinvented myself after selling my business by immersing myself in personal development and reading influential books, which shaped my approach to building Lululemon.

CW

Chip Wilson

06/10/23

@ Tony Robbins

The key to success is having a clear vision and executing it, as many people fail to follow through on their ideas despite having great visions.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I was diagnosed with muscular dystrophy at 32, but I didn't let it stop me; instead, I found yoga at 43, which became the inspiration for Lululemon.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I saw a massive market opportunity in yoga apparel for women who were stylish, active, and had disposable income, which had not been addressed before.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I recognized that the clothing for yoga was inadequate, so I developed high-quality, functional yoga apparel that women could wear both in and out of the studio.

CW

Chip Wilson

06/10/23

@ Tony Robbins

My marketing strategy focused on building relationships with key influencers rather than competing directly with established brands like Nike and Adidas.

CW

Chip Wilson

06/10/23

@ Tony Robbins

When we were low on funds, I wholesaled to a key account to generate cash flow, which ultimately saved the company from going under.

CW

Chip Wilson

06/10/23

@ Tony Robbins

The turning point for Lululemon came when we opened a new store and my wife, who was essentially running the company, helped us achieve rapid growth.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I knew Lululemon was going to take off when I saw women confidently wearing our tights in public, which validated our product's success.

CW

Chip Wilson

06/10/23

@ Tony Robbins

We always wanted our logos on the back of our apparel, so that when someone looked in the mirror, they wouldn't see the logo on the front.

CW

Chip Wilson

06/10/23

@ Tony Robbins

Deciding to be the best in the world at black Lycra tights meant that every aspect of our business, from logistics to marketing, had to be top-notch to fend off competition.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I realized that prioritizing family was essential, especially when I had young children, which influenced my decision to sell part of the business for $100 million.

CW

Chip Wilson

06/10/23

@ Tony Robbins

The culture at Lululemon was built on setting goals based on the present rather than the future, which kept our team motivated and aligned.

CW

Chip Wilson

06/10/23

@ Tony Robbins

I believe that surrounding yourself with great people and delegating responsibilities is crucial, but you must also maintain control to protect the company culture.

CW

Chip Wilson

06/10/23

@ Tony Robbins

It's important to innovate strategically based on what the customer truly desires, rather than just innovating for the sake of it.

CW

Chip Wilson

06/10/23

@ Tony Robbins

You can't wait until you're absolutely certain before making a decision; calculated risks are necessary in entrepreneurship.

CW

Chip Wilson

06/10/23

@ Tony Robbins

Embracing inadequacy is part of the entrepreneurial journey, and it's essential to seek wisdom and guidance along the way.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You need to integrate your family into your work life to achieve a balance as an entrepreneur.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You have to have a clear mission beyond just making money to avoid burnout and ensure long-term success.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You must find your purpose and be willing to take risks to achieve your entrepreneurial dreams.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

If you have a passionate market, it's not difficult to reach them digitally and grow your business.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

It's essential to ensure you have the right DNA in your company before you start scaling.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You should coordinate with influential figures to reach a larger audience and create a significant impact.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You can be vindicated even after a failure by learning from it and ensuring future success.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

You need to let children struggle and deal with responsibilities to help them grow and gain wisdom.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

I believe that as we get older, we should be getting bolder and going for it.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

If you want to create a world where kids eat healthier, you need to contribute to society through initiatives like teaching gardens in underserved schools.

TR

Tony Robbins Cast

06/10/23

@ Tony Robbins

It's better to say 'oops' than 'what if' when it comes to taking risks in life and business.

FIND YOUR FLOW! Lululemon's Founder on Building A Billion Dollar Brand

Takeaways