What if the best startup isn’t sexy at all? In 2013, Vijen Patel left private equity to pursue “the least-worst idea”: dry cleaning. No patents. No app wizardry. Just laundry lockers in high-rises, ruthless unit economics, and a $1.99-a-shirt price that was seared into America’s brain.From bootstrapping routes at 5 a.m. to breaking even in 6 weeks, Vijen and co-founder Drew McKenna scaled Pressbox to hundreds of locations, stared down well-funded competitors, and ultimately sold to Procter & Gamble, where Pressbox became Tide Cleaners (now ~1,200 locations). After the exit, Vijen launched The 81 Collection, a VC fund backing “boring” businesses that quietly power the economy.This episode is a masterclass in building profit first, creating user behavior (not changing it), and protecting customer retention like your life depends on it.What you’ll learn:How the “least-worst idea” found product-market fitHow sidestepping rent + labor can flip margins from 15% to ~40%The efficiency insight that beat “Uber-for-X” rivalsThe new-residence edge: creating customer habits with a welcome-kitWhy Pressbox had to set crazy-high retention goals (98%!)How to keep competitors close—and turn a Goliath into your buyerThe post-exit premise: “boring” businesses are engines of the middle classTimestamps:Choosing dry cleaning with a private equity lens: don’t do it for passion–focus on practicality — 00:09:30The SMS “app”: low tech, high convenience — 00:14:14Unit economics breakthrough: lockers (26 transactions per hr) versus scheduled pickup (4-6) — 00:18:55The $1.99 insight: a price everyone expected — 00:24:58How getting into Chicago’s top high-rise was a game-changer — 00:31:11Margins that work: if you’re a high-rise “amenity,” you don’t pay rent — 00:33:08Competing with Washio: convenience wins — 00:39:07Vertical integration: building the plant, staffing via Spanish newspapers — 00:41:48P&G looms: head-to-head, then the acquisition dance — 00:51:25Burnout, trade-offs, and life after exit: launching a VC fund that specializes in boring businesses — 01:03:28This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Olivia Rockeman. Our engineers were Patrick Murray and Maggie Luthar.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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I always enjoy *How I Built This* because Guy Raz has a way of pulling out those raw, behind-the-scenes stories that show the struggles as much as the successes. It’s inspiring to hear how entrepreneurs navigated setbacks, leaned on creativity, and sometimes just sheer persistence to bring their ideas to life. What stands out is how no two journeys are the same, yet the lessons often overlap in resilience and vision. It kind of reminds me of *Serpiente de Google 2025*, where even though the path twists and turns, you keep adapting and finding new strategies to move forward. Do you think hearing these kinds of stories changes how people approach their own projects and risks? https://serpientede.es/
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Understand the role of trust-building activities in creating a cohesive and reliable team. Read More - https://www.agrinoseeds.com/reasons-to-opt-for-team-building-activities-for-work.html
Uncover techniques to transform casual interactions into strong, trust-based relationships. Read More - https://www.viewglobalnexus.com/heres-all-you-need-to-know-about-building-quality-relationships/
Understand the role of team activities in improving communication and reducing workplace misunderstandings. Read More - https://www.findinglifetruth.com/reasons-to-opt-for-team-building-games/
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How I Built This dives into the real stories behind top entrepreneurs—the highs, the lows, and everything in between. If you're thinking of starting your own thing in Hong Kong—whether it’s a sole proprietorship, partnership, or limited company—these episodes are packed with lessons you won’t find in textbooks. https://sijiraju.com/