"Escape is Giving Me Bad Dreams"

Issue 002 - 2019-01-21

Lesson: Don't be afraid to change your business. You might lose some customers, but could gain a lot more.

My 5 year old and I have a routine. When it's time for her to go to bed, I lie down next to her and tell her a story. It might be about a hedgehog who had to go for a bristlecut or a garden gnome who became alive for one night. I make up a new one each night. Last night, after I thought she had fallen asleep, she said: "Escape is giving me bad dreams".

Some context. We arrived in Greece before the crisis. It was not uncommon for parents to spend hundreds of Euro on a birthday party. "Netrino" was an indoor playground. It was the place to host your pre-schooler's party. On weekends the parking was full and you could not get a table. After 2008, this dwindled to almost nothing. The owners kept it open for a while, but eventually sold the business.

"Escape" followed next. They kept the indoor playground identical. A huge indoor grid with netting to protect our offspring. I climbed through it. Too much fun. But they did not have a chance. I'm not sure exactly when they bought it, but I estimate about 4 years ago. The crisis was still in full swing. And whilst all the kids loved the climbing space, I doubt the parents shared their enthusiasm. Greek dads and moms are more protective than a she-bear. No way they could enjoy their Mythos and souvlakis, worried that little Giorgos might hurt himself.

It is now called "Gioupi", Greeklish for "yippee". We tried to go a few times. It was never open. But on weekends and in the evenings, we saw the parking lot full of cars, like before the crisis started. Yesterday after lunch, Efi and I headed off to try out the new "Gioupi". The climbing grid was gone. There was a trampoline, but only one child could go in at once. Lots of adults sat in the outer court, enjoying beer, cigarettes and grilled meat. It was wonderful seeing the place buzzing again.

A few lessons for us who want to live entrepreneurially. Efi does not want to go back to "Gioupi". She loves climbing. And whilst there was a trampoline, she had to "wait for hours" for her turn. I explained that it was much safer to have one child go at a time. In the past, we used to go when hardly any other kids were there. Instead of keeping it open during that time, they now focus on those periods that earn them income. They have lost one customer. But, we were customers that they could afford to lose. I do not think that we ever threw a party at the original Netrino. We always paid something, but it was 3 to 5 Euro. A coffee now and again. They did not make a big profit from us. The tables yesterday were laden with grilled meat and empty beer bottles.

In our businesses, we need to evaluate what is earning us the most profit. We often have customers that have been with us for years, but cause us the most work for the least income. Fire them. Not every customer is equally valuable. In the case of the inside playground, we were those customers. "Gioupi" did the right thing. They lost Efi as a customer. But they gained a whole lot more.

I am sure that after the initial shock of the change in playground wears off, Efi will once again beg me to go to "Escape". She refuses to use the new name. And maybe she will even begin to prefer it over the old.

Kind regards from your friendly entrepreneur

Heinz

Living Entrepreneurially Archive

• 012 - Crashproof Your Business
• 011 - "Was weg ist, ist weg"
• 010 - Fear of Rejection
• 009 - Quality, Reliability, Be Nice
• 008 - Be Prepared
• 007 - Riding School
• 006 - Inner Dynamo
• 005 - The Fuel Light is ON
• 004 - "I filled it in exactly as your father did"
• 003 - The Espresso Machine Guy
• 002 - "Escape is Giving Me Bad Dreams"
• 001 - The Cleaning Fluid Injection Device

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