After surveying about 50 women, I came to the conclusion that the market was not fully ready for an integrated wardrobe service.
The basis for wanting to set-up this service was to utilize my deep knowledge of laundry management.
The information gathered from the survey compelled me to change direction. I reckoned I might be brought down by making an error, chief of which was the “Do-It-All” wardrobe strategy, a shorthand for failing to recognize and exploit peoples’ priorities.
Also, I credit the change in direction to the insights I got from conversations with my personal “brain trust”—a coterie of entrepreneur friends and consultants.
Of all the members of my brain trust, I relied mostly on Olatunde Ashaolu, the founder of Clays Media Incorporated, a web development and brands management company.
As my principal strategy adviser, Ashaolu was the only person with whom I really shared my “out-of-the-box” strategic musings.
We agreed to keep the wardrobe service a part of MALAUNDRY instead of setting it up as a distinctive company with a robust online platform. This was because of cost considerations, and also to minimize my exposure in the event it flops.
Oddly, Wire 2.0 Enterprises was not a product of extensive research or long strategic deliberations.
Being pragmatists, my advisers thought I had a better chance of succeeding if I provided services that filled and satisfied areas of real importance (helping people achieve a successful work-life balance), rather than deploying resources to making my clients’ wardrobe economy more efficient.
What are your thoughts about this change in direction?