Effectual Entrepreneurship, Third Edition

           

          Practically Speaking

          Partners’ Affordable Loss

          A bunch of friends each investing a small amount made a big difference and enabled this shop to take off.

          Entrepreneur: Marius Tudosiei

          Entity: Bacania Veche

          Country: Romania

          Pages 199-200 in

          Chapter 12 The Affordable Loss Principle: Invest Little, Learn a Lot (pp. 192-206)

          "It would be fair to say that Marius Tudosiei had more aspirations than tangible resources. Growing up in the northern part of Romania, his childhood was spent in and around a big kitchen, where traditional food was cooked using fresh and natural ingredients.
          But when Marius arrived in the capital city of Bucharest, the availability of such artisanal cuisine was very limited. So, in 2009, Marius quit his job in the media industry to build "something dedicated to good food"—though he had no idea what that something might ultimately look like, and no capital to fund the project.


          Aspiration to Action
          Marius started with what was available and free. He built a social media page and asked his friends to tell him about food and about what his business should be. Soon, he had 1,000 friends advising him to open a restaurant. But he said no. Not enough money, not enough expertise. Instead, he decided to offer his friends good food from his small network of suppliers—opening a small and highly specialized grocery store as a means of distribution."

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