ON DUE DILIGENCE: SARA BLAKELY, Rags To (Billion-Dollar) Riches: Founder, CEO, Spanx

In the early days of Spanx, I didn’t vet the manufacturer helping me make our first product, footless pantyhose. They went out of business and gave me one week’s notice. It almost put Spanx under. Had I done any kind of financial due diligence on them, I would have been able to prevent that. Early-stage entrepreneurs shouldn’t forget about that layer. It almost stopped everything for me.

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