Tuesday, April 26, 2011

IDEAS AND RISKS

Entrepreneurs, including me, have a love-hate relationship with ideas.
We love them because ideas drive innovation.
We hate them because acting on any of these ideas is downright scary.

Why...you ask...
Because putting any idea into action is costly.
Not only will they entail capital...
They will also cost you time and effort.

The worst part...
...if you realize your "Eureka" thought is actually a bad idea.


Image from here


From afar, this shop looks like any typical clothing outlet...





It is not though...
It's one of the branches of "Metropole," one of the leading laundry shops in the Philippines.





The change must have cost quite an investment from its owners.
Not only did they change the store's outside look...




Inside...they even put up a dressing room with newly washed clothes on display...




They even invested on paper bags for their clients' clothes.
Their rationale:

The shop uses detergents that instead of damage...make clothes look and feel brand new.





Costly?
YES!

Risky?
YES!

Bad idea?
This is something we have yet to see.

But hey...life is about taking risks, right?
So yes, I only have good words for entrepreneurs who go out of the box.

A bad idea is better than a good idea that remains just an idea!

Why...you ask...
Because WHEN YOU ACT and TAKE RISKS...
YOU LEARN AND YOU GROW! :)




POPJUNKLOVE's scrabble pillows,
a product of my sister's Eureka moment :) 
Pin It Now!

8 comments:

  1. Ooooh, I think that's a bit too risky for a mere laundry shop, granted that METROPOLE has maintained a reputation, pero kahit na --- laundry shop pa rin. Even laundry shops abroad aren't as nice, unless you have them done in posh places, diba? Or sa hotel? Hehehe. I dunno, but good for them!

    I know these things, being in business/private practice. Sometimes there are ideas you wanna undertake but it involves capital and if you don't get the money back agad, it's painful. Hay, business!

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  2. It's one thing to have an inspiration, but it takes courage to take the risk. I had an uncle who had lots of ideas, but he couldn't make them work. He was lucky, my aunt was a very tough lady and she would take over and MAKE his ideas work. They had several businesses that she built and sold. Keep going Roma! =)

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  3. crickette :) i know right...imagine overhauling your clinic's whole look...i'm sure it would cost a fortune...that's why it's scary as hell...the uncertainty of getting your investment back...

    ric, i like what you said about inspiration and acting on this inspiration despite the risk... :) I agree...sometimes it's not really about whether or not the idea is bad...it's about making the idea work :)

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  4. im not sure about the laundry shop cause i dont really spend a lot of time in them, i usually just drop off my stuff and go. i love your scrabble pillows though :)

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  5. I'm also a rare visitor of laundry shops. I only go there when I go on out of town and didn't pack enough clothes :)

    about the scrabble pillows, thanks fashioneggplant :)

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  6. I know what you mean about risks! omg, don't even get me started!

    But I think sometimes the Philippines goes a bit overboard with advertising, case in point, this laundry shop. I think going overboard is okay if you invest in the right things, and I personally don't think this was a good investment (I personally don't see a lot of connection between laundry shop and the things they've changed/added). But I may be wrong! And this might just be their best idea yet! :)

    The scrabble pillows are great!

    http://samalamode.blogspot.com/

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  7. Sam, I agree...businesses here do invest a lot on advertising...but again...it wouldn't be that big of an industry if it doesn't work...so I guess, many businesses do see the need to invest on such endeavors. on whether or not the laundry shop's move is right...I just hope it will work out for the best.. :)

    maddalena, thank you :)

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