The Tim Ferriss Show

#514: Chip Wilson — Building Lululemon, The Art of Setting Goals, and The 10 Great Decisions of Your Life

May 19, 2021

Chip Wilson, a visionary entrepreneur and founder of Lululemon, shares his journey of building a global athleisure empire. He discusses the significance of goal-setting, reflecting on transformative moments around age 43. Chip elaborates on Lululemon's strategic brand development and its cultural identity. He also critiques modern media's impact on business perceptions and emphasizes the importance of authenticity in leadership. The conversation encourages taking immediate action, embracing creativity, and fostering connections for personal and professional growth.

01:53:54

Episode guests

Chip Wilson

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Quick takeaways

Establishing linguistic abstractions fosters unified communication and exponential growth within organizations.

Integrity and accountability define a strong company culture, promoting authenticity and personal development.

Structured goal-setting and reviews drive personal growth, alignment with values, and organizational success.

Encouraging ambitious goal-setting empowers employees, enhancing talent development and internal growth.

Deep dives

Benefits of Required Curriculum at Lulu Lemon

One of the strengths of the required curriculum at Lulu Lemon was setting a linguistic abstraction of thirty terms and definitions, fostering a culture where everyone spoke the same language and expanding the company expedientially. The five books and courses, including landmark courses and texts such as 'The Goal' and 'The 7 Habits of Highly Effective People,' were mandatory to ensure a common understanding and growth among employees. This structured training approach helped in goal setting and establishing a shared vision across the organization.

The Importance of Being Unique

01:47

The Act of Defining Integrity

01:25

Intro

2min

Exploring Health Benefits: Mushroom Coffee and Chaga Tea Recommendations

4min

An Engaging Journey Through Personal History and Openness

3min

From Calgary to Alaska: A Journey of Growth

6min

Reflecting on Milestones and Ambitions

19min

Reflections on Ambitious Goals and Market Evolution

4min

Navigating Trends and Building Lululemon

21min

Reflections on Leadership and Branding

31min

From Bicycles to Megacities: The Hiring Revolution

5min

10.

Seize the Moment: Embracing Urgency

11min

11.

The Joy of Creativity and Connection

8min

Chip Wilson — Building Lululemon, the Art of Setting Goals, and the 10 Great Decisions of Your Life | Brought to you by Laird Superfood clean, plant-based creamers, Four Sigmatic mushroom coffee, and Helix Sleep premium mattresses. More on all three below.

Chip Wilson (@chipYVR) is a serial entrepreneur and philanthropist. His career in the apparel industry began in 1979 as founder and CEO of Westbeach Snowboarding Ltd. In 1998, after selling Westbeach in 1997, he founded lululemon athletica inc., creating an entirely new category of technical apparel called “athleisure” — now a $400 billion global industry.

Through his holding company and family office, Chip focuses his interests on apparel, real estate, private equity, passive investments, and philanthropy. Chip and his wife Shannon’s passion for design led to the creation of the internationally recognized KPU Wilson School of Design in 2018.

In 2019, the Wilsons partnered with Anta Sports to buy Amer Sports, which includes brands such as Arc’teryx, Salomon, and Wilson Sporting Goods. Chip currently sits on Amer’s board of directors.

The 2021 edition of his business memoir, The Story of lululemon is available for free at chipwilson.com/book. Last but not least, Chip is steadfast in his pursuit to cure facioscapulohumeral muscular dystrophy (FSHD). He is on the board of Facio Therapies and has begun his latest big 2021 project, Cure FSHD.

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