Being an Entrepreneur…
Nov 17th, 2010 by monicamoran
Being an entrepreneur is not easy. There are various challenges and risks in starting your own business, such as lack of resources, capital and of course fear of the unknown. An overwhelming feeling amidst the very competitive business world. Some stay away from entrepreneurship exactly because of this but there are some that are willing to accept the challenge and strive for success. Thus, this blog entry will be about a person in my life that has shown to me how being an entrepreneur is possible, my aunt, one of the most influential entrepreneur’s in my life today.
She started with a small idea of serving Mediterranean cuisine to Filipino customers, something that was very rare throughout the Philippines. In 2005, this idea became a reality, when my Aunt launched her restaurant, called Cafe Mediterranean (Cafe Med). Today, she is able to expand to various parts in Manila.
She began working at home to plan out the business and then set up a small office in the restaurant itself so she could oversee her implementations and development of the business. It wasn’t easy. The investment she and her family had placed in this venture was high, and thus the pressure for the restaurant to succeed was high.
The risk of opening a restaurant is extremely high in the Philippines because the industry is highly competitive. There are already several outlets that have gained costumer loyalty, which makes this venture difficult. That’s why an entrepreneur needs a unique value proposition or have a unique selling point. For my aunt, it is mediterranean cuisine. Although the growth stage was particularly slow, Cafe Med was able to establish a loyal customer base throughout time
In class, Entrepreneurship was described as “a puzzle in which each piece is constantly changing and effecting the rest of the puzzle.” My Aunt’s venture was this small piece and throughout time, it will not only grow but develop and change. In fact, my aunt is the one who has influenced me to be part of the business world because it is my ambition to be an entrepreneur. I know how risky it can be but if my aunt can do it, so can I.