LIBED, GIZELLE R.

ASSIGNMENT NO. 1

ENTREP Pinoy: BO’s Coffee Proud Pinoy

Being an entrepreneur is not easy. It requires you to view the obstacles and
struggles in life as an opportunity to make something wonderful. Being a successful
entrepreneur requires focus, passion, and willingness to take risks.
Just like the story of Steve Benitez who has put the spotlight on Philippine coffee
these past several years. When he realized that his true passion lay on coffee, he started
to put up his own business known as Bo’s Coffee. That is how it all started. If you have
a vision in your head pursue it with all your heart. In every business, there will be a
moment where you think you are not meeting your vision and goals for your business but
just like what Bo’s Coffee did, he make this as an opportunity to promote their products
and succeed on his chosen industry. He is truly an amazing entrepreneur because he
thinks out of the box, although some businesses use this kind of strategy like giving
sample or product testing to consumer to gain their trust. For me, it is a risk for your
business because you will not know if the response of the customer will have a positive
or a negative effect on your business.
Beside from the challenges, I agree on the business model of the Bo’s Coffee
which is to share whatever success you have with others. He’s advocacy to support the
coffee industry by procuring to Philippine coffee directly from the farmer, supporting them
not only on procurement but also in other aspects such as financial intelligence, giving
them knowledge, advising them how to improve the quality is a big yes for me, because
he was supporting the communities, small business to be successful just like how
successful Bo’s Coffee was. He also mentions about the other challenges that his
business faced. It is to be able to always update your business to the level where
competition is or even higher. You need to reinvent yourselves, to make relevant and
make your business more efficient. As we all know innovation is very important in
entrepreneurship, especially in a highly competitive industry, your innovative ideas will
separate you from the rest that is why he is encouraging young entrepreneur to create
unique ideas by using the unique resources found in the Philippines because these will
make them different from the others. As an entrepreneur, at some point we will
experience, we will experience some form of adversity. We should always remember that
it is only temporary, what is important is that we keep moving ahead even if its one small
step at a time and eventually will lead you and your business to success.