Chip Wilson: Billionaire Serial Entrepreneur & Retail Mogul [Business, mindset, entrepreneur, disruptors]

Have you ever wanted to get an insight into a billionaire’s mindset? Then today is your lucky day as Rob is joined by  Canadian billionaire, businessman,  founder and former CEO of Lululemon Chip Wilson. Together they discuss an entrepreneur's ability to handle setbacks, why it is vital to the success of your business to surround yourself with good negotiators and why nobody ever plans to become a billionaire.

 

KEY TAKEAWAYS

When you are an entrepreneur change is always going to happen. The current global pandemic is certainly a setback to all businesses, but life is all about how you handle setbacks. Entrepreneurs survive because they would probably do what they are doing for no money. Because the passion is there, the mind works on the issues 24/7. Fear will not do anybody any good, people that stand in fear are using up brainpower from being creative about how to move forward.

 

Most entrepreneurs are product and brand people. Finance, public markets and private equity is a realm that many entrepreneurs do not have much experience in. Getting the right advisors is extremely important. Don’t only go for advisors you trust, go for advisors who are aggressive negotiating advisors.

 

People who are running the government are running the biggest corporations in the entire world. They are political animals but they have no idea how to run a business. Do you want someone running your government that can add triple the value to it because they know how to run the business so everybody has got a lot of money? Or do you want an incompetent fool running your government so that you have all the social things taken care of but everybody is poor?

 

Nature wants everyone to be super valuable in life. Entrepreneurs are given this ability to shut so many things down in the brain. They are constantly looking towards the future and thinking about the knock-on effects the future world will have due to the ever-evolving world. Many people have ideas but very few people take action.

 

To be disruptive is to have the willingness to do and risk what others aren’t willing to do. Almost every entrepreneur that came up with their idea had people tell them that it was stupid, wrong and would never work. When that very same idea becomes successful, they become disruptive. A ‘good’  disruptive can often make other people uncomfortable.

 

BEST MOMENTS
“Once you can get a product and you can understand how to replicate it, I think that is where the money comes in.”

 

“It is inherent of the entrepreneur to be responsible for yourselves to make sure you have people around you that can handle your weaknesses and supplement your weaknesses.”

 

“An entrepreneur is someone who has an idea and sees an opening in the marketplace, who couldn’t stand going to their death bed not seeing if it worked or not.”

 

ABOUT THE GUEST

Chip Wilson is a Canadian billionaire, businessman and philanthropist, who has founded several retail apparel companies, most notably yoga-inspired athletic apparel company Lululemon Athletica Inc. Chip Wilson is widely considered to be the creator of the athleisure trend. In 2016, he organized his personal and business interests into the holding company Hold It All Inc.

 

[Business, mindset, entrepreneur, disruptors]

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ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”

“If you don't risk anything, you risk everything”

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