MANILA, Philippines – Did you know that Penshoppe, the hip clothing brand known for bringing in celebrity endorsers such as Gigi Hadid, Kendall Jenner, and Sean O’ Pry, didn’t earn profit in its first 10 years of business?
“It’s important for a lot of people to realize that for every success story that you hear, there will always be more under the veil,” said Bernie Liu, Chairman and CEO of Golden ABC Inc. “Penshoppe was not widely accepted back then.”
Today, startups can and would make the same mistakes as Liu did, but now they can use technology to get off the ground faster – to research on market trends, see examples of what’s relevant, and even launch an online business with a few clicks. All they need is a strong Internet connection and a computer. A single social post, advertising a product or service, can already reach hundreds, thousands and eventually, millions of customers who are frequently online.
Liu’s parting advice to aspiring entrepreneurs is to be optimistic and to make the most of what they have today. “Dreaming big is not wrong. You have to dream big, but you also have to work at it to make it happen.” he said. – Rappler.com