Nurture That Idea
“A small idea can be the seed of a big business venture.”
–NELSON YUVILLA, Philtec Label Corp.–
What makes an entrepreneur different from ordinary 8-5 guy?
They are full of ideas, and many have thought their ideas are outright dumb and nonsense until it becomes a source of wealth.
When entrepreneurs look at a situation, they find a need. And from that unmet need, an idea will emerge that will eventually produce wealth.
For example, before Sun Cellular joined the telco war, Globe and SMART dominated the market with their products catering to middle income end users and above. Sun saw a need to reach to the minimum wage earners and students. Thus, when they entered the market, they have a specific group in mind. Ignored at the beginning because the services are not at par with the Goliaths of the industry, but they eventually become a threat when a chunk of the prepaid subscribers switched. Despite the technical glitches, Sun products were embraced by the market, and soon, SMART and Globe adjusted their marketing plans too.
Likewise, who would have thought that water refilling stations as well as laundry shops will be a regular fixture in the urban landscape? Or the Binalot (sa dahon ng saging) fast food will become an alternative to restos offering burgers and chicken? Ideas born out of an unmet need.
Of late, I’m thinking out of the box. That is looking for a need, and stretching my mind to create an opportunity. Why not join me in that little excercise? Who knows, you may be the next Henry Sy.
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