The Independent Investor’s Open Access event “Vision to Venture – Turning Ideas into Reality,” left an indelible mark in the Cebu startup community after its culmination last week. Held in partnership with JEG Development Corporation at the prestigious JEG Tower @ One Acacia, the event marked the publication’s first in the Queen City of the South.
Cebu’s startup ecosystem is thriving, and the recent “Vision to Venture” event was a testament to that. The Open Access event brought together Cebu’s top entrepreneurs to share their startup journeys and insights in a panel discussion. It was a valuable opportunity for aspiring entrepreneurs to learn from the best and get inspired to turn their ideas into reality.
The panelists discussed a variety of topics, including the challenges and rewards of being a startup founder, the importance of having a strong team, and the need for focus and perseverance. The headlining panel included Pages Food Group founder and CEO Bunny Pages, Bo’s Coffee founder Steve D. Benitez, RISE PH’s founder Rhett Jones, and Bauhinia Brewery founder Marken Aboitiz. Moderated by veteran HR talent consultant and Paraw Talent Solutions Founder Warren Habaluyas, the panel also shared varying perspectives to questions from the packed audience during the 90-minute open forum session that followed.
The panel discussion kicked off with a deep dive into the first steps each entrepreneur took to turn their ideas into reality, highlighting the major setbacks they first had to get through to get where they are today. While acknowledging that the business journey is different for everyone, all panelists stressed the importance of starting off right by performing due diligence, including creating the minimum viable product. On top of that however, the panel emphasized the value of having a resilient entrepreneurship spirit.
According to Bo’s Coffee founder Steve Benitez, having a resilient entrepreneurship spirit allowed him to persevere even when his business didn’t seem feasible at first. “When I was starting out a lot of people told me selling hot coffee in a warm country wouldn’t work. But I think entrepreneurs who really believe in their idea have something in them that tells them to keep going,” Benitez said. “I had a hard time even just paying my store’s rent at first. But the spirit of entrepreneurship kept me going.”
The panelists also advised budding entrepreneurs on the importance of building the right team, especially in the growth stages. For Bunny Pages, the challenges of starting and growing a family business spurred him to develop a more open mind— which in turn improved the dynamic he had working with his children.
“It was actually my son and I that started by looking at restaurant businesses we could buy and grow,” explained Pages. “My kids helped me become more open as many of the ideas actually come from them. I learned that when working people shutting down ideas is never a good thing. Bad ideas will expose themselves with the right questions—but what if they’re good?”
Pages also later underlined that building a team you could trust is key to business growth. “One of the most important things entrepreneurs should learn is how to delegate. You cannot do everything yourself.”
However, Benitez also underscored that entrepreneurs should always adhere to a growth mentality. This means the best entrepreneurs are always looking to learn, continuously seeking out new mentors and covering any blindspots in their business. Advocating for lifelong education, Benitez credited his desire to learn with helping him conquer business challenges.
“The day you stop being humble and wanting to learn is the day you start dying. I think it’s an important mindset for entrepreneurs to have, that they should be looking to learn from other people in any room they’re in,” Benitez said.
Rhett Jones advocated for a sensible, pragmatic approach to starting a business by first focusing on solving a challenge/problem. He also synthesized the insights of his fellow entrepreneurs regarding the products they chose to develop. He highlighted their shared commitment to addressing challenges and problems rather than solely prioritizing revenue growth. The overarching message was clear: a solid objective, rooted in a larger mission, should guide entrepreneurial pursuits, with financial success being a byproduct of purpose-driven initiatives.
In Jones’ case, the challenge was differentiating his business’ high-speed internet service from bigger, well-established players. Despite the challenge however, he refused to see business as a zero-sum game. “Sometimes more players in an industry can make it grow. I think my competition was actually able to make more money when I worked with them,” Jones said.
Jones later stressed that having a great mission and purpose is enough of a north star for many businesses. “I personally think internet access is a human right. So if you really care about the problem you’re trying to solve, it helps in attracting the right type of talent and even deciding if you want to expand or not.”
Finally, Marken Aboitiz brought a unique perspective to the discussion by sharing his views on starting small as an entrepreneur “I had many bad ideas at first but I wasn’t afraid to experiment—Bauhinia Brewery’s minimum viable product actually started out in my mother’s kitchen,” Aboitiz said. “I got interested in beer and realized what a difference the beer line length made for quality. Just an inch or so would totally change the taste. If such a small thing can make a difference, I realized there was an opportunity for entry.”
Aboitiz also emphasized the importance of seeking help, showcasing the varied profiles of entrepreneurs. “I see how people might find it intimidating but always ask for help, everyone’s always willing to give it,” he said.
Aboitiz also advocated for discipline in entrepreneurship, promoting a strategy of gradual growth and continuous feedback as the pathway to success. This philosophy is even why Bauhinia Brewery continues to concentrate on the Cebu market. “I didn’t want to leave Cebu just yet because I wanted to be sure about quality control. Not only that, but I also want to stay close to my customers.”
The panel discussion was then followed by a Q&A portion covering the pros and cons of starting a business in the Philippines, deciding on an industry to focus on, business people to look up to, choosing what kind of business to start, and more. Audience members were given valuable insights drawing on each of the panelist’s unique experiences, enriching their understanding of the entrepreneurial journey.
Watch the full panel discussion here.
Overall, the event was a huge success and left a lasting impression on the Cebu startup community, with hopes to inspire more entrepreneurs to push forward and pursue their dreams.
The Independent Investor extends its deepest gratitude to its generous partners and sponsors for making “Vision to Venture” a resounding success. Their unwavering support was instrumental in bringing together Cebu’s dynamic entrepreneurial community and fostering a vibrant atmosphere of innovation and collaboration.
We are grateful to our Platinum sponsors, who played a pivotal role in shaping the event’s agenda and ensuring its seamless execution. Our sincere appreciation goes to JEG Development Corporation, our co-presenter and venue partner, for providing a world-class setting for this gathering of minds. Philippine Airlines and Corenergy Inc., other Platinum partners, that demonstrated their commitment to empowering Cebu’s startup ecosystem through their generous contributions.
We are also thankful to the support of our Gold sponsors, Visayan Electric Company, Smartsourcing, and Bauhinia Brewery, as well as our Silver sponsors, Northern Star Energy Corporation, SyCip Gorres Velayo & Co., the EBR Group, and Arcadis, that played a crucial role in amplifying the event’s impact. Likewise, we extend our gratitude to Golden Prince Hotel and Bluewater Maribago, for providing exceptional hospitality and accommodations as well as raffle prizes to our guests
Finally, we are deeply appreciative of DOHE Cebu, our Community Partner, who played an instrumental role in mobilizing Cebu’s entrepreneurs, government representatives, members of the media, and the academe. Their dedication to fostering a collaborative and supportive environment was pivotal to the event’s success.