Entrepreneur ship Essay Example for Free

Entrepreneur ship Essay Regardless the state of the country, one can realize that coffee is one of the most favorite products among American people. It has remained in the top positions for some decades. However, drinking coffee is not only the consumption of a product; it has become a daily activity. It is normal to hear this question when someone wants to meet up with one person: â€Å"do you want to get a coffee tomorrow and we can talk about? † Any excuse is good enough to get a cup of coffee. The beginning of the coffee industry dates back to the 1960’s, when a man named Alfreed Peet felt the inspiration to create the first gourmet coffee shop (Peet’s Coffee). That inspiration came, between other reasons, because he grew seeing his parents ‘coffee business (Peet’s Coffee). He was living in Holland and later in Indonesia. After that, he went to California where he thought he had the necessary knowledge to start his own business. By doing that, Peet started to produce a richer and more complex coffee that the available coffee at the market (Peet’s Coffee). Because of his marketing strategy, motivation through employees and resilience to fall, Alfreed Peet was one of the most innovative and creative entrepreneurs of coffee industry. Some people think that entrepreneurs are different from everyone else since they think these people were born with a special ability that nobody else has. However, these people are what they are because they learn from experience, including inconvenient experiences. Peet reached a great success because he did it. Despite this level of success, Peet can still became a better brand by introducing an aggressive advertising, worldwide expansion, and improving the pricing system. Peet had the features that best define an entrepreneur. First, he had the vision to open a shop in an unfamiliar market, the coffee market. Vision is a characteristic that most of the entrepreneurs have (Boone and Kurtz 608). Entrepreneurs do not fall depressed when people tell them that their business will not run successfully. Instead, they trust in their intuition and continue until they get what they want (Kelly and McGowen 92). Along with vision, Peet had passion about his coffee. He did not think in becoming rich or famous, but making the best coffee he could. He knew the importance of enjoying the process rather than thinking about the outcome. Moreover, he had enough motivation to start his business and offer the best product and service. This is the most important factor that one person must have to get anything in his or her life. Some people do not pay enough attention to how important the motivation is to succeed in any field. When one is motivated, it is much easier to reach any goal. Time does not seem to go by when one feels a motivational force inside him. Furthermore, the motivation makes one enjoy whatever he or she is doing. Then, along with this enjoyment, the results come without the sense of effort. â€Å"Motivation is important simply because it allows you as a leader to meet and even exceed your own organizational goals† (â€Å"importance†). However, motivation is not enough if one does not spend time working. For this reason, Peet knew that dedication was important if he wanted to be successful in the coffee industry. He did not believe in luck, but in causality. Another reason why he was a successful entrepreneur was that he wanted to see the growth of his family? s coffee business. He wanted to continue what was started decades ago. Finally, the word â€Å"commitment†. To Peet, it meant to be persistence. If he wanted his dream to become a reality, he had to overcome big obstacles. It meant never giving up and to being congruent by taking action instead of just talking. Peet? s coffee should be an admired company because of its behavior towards employees and customers. Peet? s makes an effort in having a good workplace where employees must be prepared to create the great coffee that customers like (Peet’s Coffee). It has been proven that the performance of the employees is greater when they are in a comfortable and attractive environment. Moreover, Peet knows the importance of making his employees feel well. An employer should not only think of the employees as part of the company, but should also take into consideration their opinions and complaints. â€Å"Democratic leadership ordinarily produces higher member satisfaction and morale. It also results in higher quality decisions when members have as much or more knowledge than the leader regarding a particular problem† (Sharpe). The results of a company depend on the performance of the employees. Espinosa states that an important step is â€Å"to be a positive model as a leader. You’re supposed to be a good example for your members to emulate, and a person worth respecting. † Good team work is an essential part of any job because the best results are achieved when everybody goes in the same direction. Moreover, motivation is crucial to push people to get their goals. â€Å"Democratic leaders involve members in decision making either by reaching consensus or by using parliamentary procedure. They pursue open, trusting, follower-oriented relationships† (Sharpe). The relationship between Peet and his customers has also been excellent during the time that Peet’s coffee has existed. (Peet’s Coffee). This relationship is passed from parents to their children and grandchildren and it seems to be continuing for a long time. Besides, Peet’s company has developed different economic and education programs in order to collaborate with the growth of the countries that provide beans and leaves for his coffee (Peet’s Coffee). To summarize, Alfreed puts the emphasis on being a big family who plays on the same team. Every member of the team has different tasks to do in order to reach the same goals for Peet’s coffee, which are to make a profit, offer an excellent service to the clients, and of course, to enjoy while doing it. Peet knows that the world has changed in the last decades; therefore, he has adapted to the marketing changes along these years. At the beginning of his expansion, Peet started in a local place where the coffee market was becoming more popular. At that time, the marketing concept changed and the business’ owners started to offer the goods and services that their clients demanded in a higher quality than their competitors (Boone and Kurtz 380-381). Thus, Peet wanted to get customer satisfaction more than anything else. However, times changed and Peet had to adapt if he wanted to continue being successful. Peet spread out his stores to different states of the country such as California, Illinois, Massachusetts, Oregon and Washington (Peet’s Coffee). Moreover, the last decades are characterized by some changes in marketing. Marketers are conscious of the importance of keeping loyal customers. Boone and Kurtz say that â€Å"acquiring a new customer can cost five times more than keeping an existing customer† (380-381). For this reason, Peet not only provided his products in his stores, but he started to look for ways that customers could find his products everywhere. Customers can now buy his products in different supermarkets around the country. For example, Safeway, Super-valu and Ralphs offer his products (Peet’s Coffee). In addition, Peet has seen how technology has grown in the last years and he has created his own website. This website gives the customers the opportunity to see, compare and buy Peet’s products. This website has also a service for customers and they can ask any question related to the products which will be answered by his representatives (Peet’s Coffee). Another important marketing feature of Peet’s business is that he is not only a retailer for his customers, but he is also a wholesaler for distributors of restaurants and food services (Peet’s Coffee). Even though Peet’s coffee is famous and well-known by coffee drinkers, there are some strategies that he should use in order to expand his business. First, a better advertising marketing strategy should be utilized if he wants to become more known around the country considering most people do not know about Peet’s coffee. However, when someone tastes this coffee they should ask themselves: How come I have never heard about this coffee? Peet should then invest money in publicizing his products. For instance, an advertisement on television and in a newspaper would make people arouse curiosity about this coffee. Second, it would be a good idea to emphasize the selling in the universities. Between students it is really popular to drink coffee, especially when exams are approaching. Peet should promote specific campaigns where executive go to different universities to publicize its products. The most important thing would be to franchise Peet’s stores in different universities. By doing this, students would start to know Peet’s coffee and it would be an excellent opportunity for Peet to grow his brand. Finally, in my opinion, the best strategy would be to expand his business to other countries of the world. Peet only has stores in the United States. In this situation, he can not expand his branch more than one point. He could expand his stores to other countries of the world because people like to try new brands. Even if one brand like Starbucks is successful around the world, people will still be attracted if a good product is offered to them. If Peet’s marketing strategy has worked in the United States, there is a high probability that it may work in other countries. Peet’s coffee would be successful around the world and it would keep in people minds for ever. Works Cited Boone, Louise E., and David L. Kurtz. Contemporary Business 12th Edition. Mason: Thomson, 2006. Print. Espinosa, Jerome. â€Å"How to effectively handle union negotiations. † Helium. com Helium 06 Oct. 2010. Web. 03 February. 2012. â€Å"Importance of Motivation. † Leadership-central. com Leadership-central. com, Web. 20 Jan. 2012. Kelly, Marce. , and McGowen, Jim. BSN3. Mason: South Western Cengage Learning, 2006. Print. Peet’s Coffee and Tea. Peet’s Coffee and Tea. PCT, Web. 14 Dec. 2011. Sharpe, Dave. â€Å"Choosing Leadership Styles. † Msuextension. org Montana State University Extension, Web. 20 Jan. 2012.