When it comes to entrepreneurialism, the Blakely family tree has been quite fruitful. John Blakely's grandfather founded a printing company in Chicago, and his father was one of the founders of the Broaster Co., whose cookers produce chicken loved around the world. John Blakely himself founded his own law firm in 1973 in Clearwater. And in 2003, the trial attorney became a partner in the Naples law firm Roetzel & Andress.

The entrepreneurial spirit has filtered down to Blakely's daughter, Sara, whose Georgia-based women's hosiery company SPANX is making a national impression. And Sara was runner-up on FOX's extreme reality show The Rebel Billionaire.

Serving as a "one-man board of directors" for his daughter's booming business, Blakely can't say enough about Sara's success.

1. What was your contribution to SPANX?

When Sara was hesitant to leave the safety of her job selling office equipment, I told her to trust her instincts and devote 100 percent of her time and energy to the development of SPANX. I also advised her to do this on her own without partners, and I helped her to understand how a guaranteed order from a major department store would entice any bank to work with her.

2. Any entrepreneurial tips?

To have a great idea is one thing; to do something about it is another. Potential entrepreneurs should experiment and test the commercial feasibility of their ideas. If the first test of the product or service isn't a smashing success, view it as a sign for improvement, not as a failure of the initial concept. Finally, surround yourself with talent and learn to delegate.

3. What did you learn from the SPANX launch?

Developing a strong brand name is important. Listening to what consumers want and need is key to building a good reputation with customers and retailers. Relationship building in the beginning is more important than trying to maximize an early profit. Unless it's specifically stated in the contract, you don't necessarily have sole ownership of artwork and packaging.

4. How important are business plans and marketing campaigns?

A sound business plan is essential. Once the target market is determined, you can focus on the revenue potential. A marketing plan is even more important. Sara knew exactly who her market was. With that knowledge, she was able to target her market without spending a lot of money on advertising.

5. Anything to share about the experience of a father working hand-in-hand with his daughter?

A father doesn't always get the opportunity to see how his child addresses and solves business problems. I am amazed by Sara's ability to think outside the box and her keen attention

to details.