Video: Sara Talks Entrepreneurship on Katie Couric- part 1

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Katie: Welcome back. So, have you ever seen an infomercial for a new product or picked up a gadget at the drugstore and think, "Why didn't I think of that?" Well, today we're beginning a new feature on our show called "Mothers of Invention." We're going to meet some women who had a eureka moment, added some elbow grease, and started turning their dreams into reality. And to help us, we have two women who have already done that and succeeded in a big way. Sarah Blakely is the inventor and founder of Spanx, thank you Sarah for that. And Rebecca Minkoff is a luxury handbag, accessories, and apparel designer and created some of my favorite shoes. So, we're going to talk to some women who are trying to make their dreams come true in a minute. But first, you guys both started your businesses in your apartment. How did you get the idea for Spanx, Sarah? And honestly, I can't tell you how many times I think, "Why didn't I think of that?" Sarah: Well, actually the idea came to me because of my own butt, really that's where it started. I didn't like the way that my butt looked in white pants. And like so many women you can't figure out what to wear under white pants, you can see the thong, you can see the pantyline. I shopped for shapers for the first time and they were really thick and left a line or bulge on my thigh that you could see under the white pants. So, I cut the feet out of control top pantyhose that were sitting in my apartment, and it worked better than anything else that was on the market. / Meanwhile Rebecca, you started making "I Love New York" t-shirts in your apartment, and how did you go from that - which I'm sure was a very important job - to having this huge business of handbags and all kinds of products. I mean it's shoes, what else do you do? Rebecca: We have shoes, jewelry, we have men's handbags under the name "Ben Minkoff." It's a real lifestyle brand is what the goal is and we're slowly conquering each new territory, we' just launched denim. So, it did start with a dream. I'm a fashion designer in my heart, and I started on the floor of my apartment. And I had an idea for a handbag about four years prior and it took awhile to do. And then I launched the handbag and it took off like wildfire. So, I said let me hitch my wagon to this, really grow this into something stable, and then from there we can relaunch clothing and everything else along with my brother, who is my business partner. Katie: I'm very excited for you guys to meet our next guests because we have five ladies who are hoping their products will be just as successful as yours. So ladies come on out, take your station. I feel like we're on shark tank all of the sudden. First, we have Jacqueline Smith who is showcasing her product, which is called "Liquid Palisade." meanwhile, Kitsy and her daughter Amanda Bates invented and created a product called "Tiny Pies." And Lisa Holmes and her sister Karen Wildman have a product called "Beastie Bags." Each contestant is going to briefly explain her...

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