Part 1 Self-Assessed Toolkit Training Exercises

Business Idea: Library Espresso

Many people love coffee. Students need coffee to keep them awake to study or review their
lessons. People nowadays are ranting about students studying in every coffee shop. This business idea
will cater to the university students of Baguio City who cant find a convenient place to study while
having a cup of coffee. The aim of this business is to offer them a library that serves coffee on the area
near the two biggest universities of Baguio City. As for the two biggest universities we have the Saint
Louis University and University of Baguio which has a combined population of more than thirty thousand
students.

Market Segmentation

For my business idea, the target market would be the different college universities around
Baguio City

surf the net

review
College
Students Comfort

Have coffee

Have coffee
Library
Coffee Professionals Leisure
Shop
Comfort

surf the net

Tourists Leisure

Comfort
Beachhead Market

For my business idea I will be focusing on the area near Saint Louis university and University of
Baguio. Since they are just close to each other this area will provide more customers and will help me
reach my beachhead market which are the students of the two universities. Based on my experience
visiting different coffee shops during my vacant time most of their customers during weekdays are college
students.

End User Profile

Students

- College students
- Students of Saint Louis University and University of Baguio
- Ages 18-26
- Any gender
- Lives within the Baguio City proper
- Can afford to spend money for a coffee
- Fan of coffee
- Needs a place to review

Total Addressable Market Size of your Beachhead Market

Focusing on students will be a good Beachhead market for this business. According to statistics 60%
of the population of Baguio is consist of students. This business will focus on the students of Saint Louis
University and University of Baguio which has more than twenty-three student population in total. Due
to the cold weather in Baguio City 80% of the population likes coffee. We all that not all can afford to
spend money a cup of coffee in a coffee shop. Within this group only 45% can afford to spend money for
a cup of coffee. Finally, a safe estimate of my market share of 5%.

Total Addressable Market Size(TAM)

= Population x Coffee Fan Percentage x Customer with Buying Capacity x Market Share

=23,000 x 80% x 45% x 5%

= 414 customers
Profile your Persona

This simple logo shows that any student can have a coffee while studying. This displays the overall goal of
this business which is to cater to the needs of the students who wants to have a comfortable place to
review while having a cup of coffee.
Part II Peer-Assessed Explorations
Define Entrepreneurship

As for businessdictionary.com entrepreneurship is the capacity and willingness to develop, organize and
manage a business venture along with any of its risk in order to make a profit. This is not far from my own
understanding of entrepreneurship. As for me entrepreneurship is the act of forming, running and
developing a business in which you have a great interest or experienced the lack of which in the market
wherein it caters to the needs or wants of the market with the intention of earning a profit. For me it
doesnt matter if you start big or small. What matters for me is your intention or interest in forming such.
With this intention it will drive you to do more or develop your existing business and still thinking on how
to improve such. What I learned in this course is that you must have a knowledge on whats happening
on the market and also to have a specific target customer in which most of the starting entrepreneurs
failed to recognize for which they aim to cater to all. Attending to all arent that bad but for me its a
matter of introducing your business and forming your territory first.

For me my favorite entrepreneurial enterprise would be the Nike, Inc. mainly for their market dominance
and for their quality products. Another consideration is that their mission is to bring inspiration and
innovation to every athlete. As their co-founder Bill Bowerman said, If you have a body you are an
athlete. I admired them for the reason that they have this mission that they want to help every person
to do more or achieve more and they believe that anyone can do the same. In relation to what I have said
earlier in the definition of entrepreneur, they have this intention or interest in helping someone to be
better and make them feel that we are capable of being great.

For my favorite entrepreneur it would be Alvie Benitez the founder of GoldenducK a social enterprise in
the Philippines. GoldenducKs emblematic salted eggs use fifty-percent less salt than the commercially
available red egg for a healthier alternative to your salted egg addiction. Their eggs are also dyed with all-
natural turmeric to give it its golden hue, a supposed safer alternative to the red dyes that are believed to
be carcinogenic. During the college days of their founder he failed on their thesis focusing on this business.
But he did not stop there. He showed that one or two failures is not enough to stop him on his idea. As
long as you have the dedication and the driving force to continue you will be known and succeed someday.
It may a long path but he took each mini milestone as a motivational experience and now GoldenducK is
one the fastest growing social enterprise here in the Philippines.
Interview an Entrepreneur

The entrepreneur that I had a chance to talk to is my batchmate/classmate, Joyce Bernardo, also
taking up BS Accountancy. Joyce has an amazing talent in drawing, sketching or doing artworks.
She likes drawing but she also loves Accounting. Not to let any of her interest to be idle she did
not let herself go away with making artworks. During our early years in college she only accepts
small works like to make a logo for our products and such in exchange we just have treat her a
snack. And now she is in her 3rd year of actual business. There is this one caf here in Baguio in
which she contributed in their interior design and most of the artworks posted there are her
works. She is now earning enough money as her allowance in college and she even paid her
tuition in full starting when we are still on 3rd year. And now she is the one who treats me in our
snacks.

I personally know this entrepreneur she is a good friend of mine. I saw her rise and fall and rise
again. I appreciate because of her personality, dedication, passion and perseverance. Going back
to my definition of entrepreneur, she turned her interest or passion into a great business idea.
She loves doing artworks so she focused on her strength and developed it. Its about finding what
you love and doing what you love. As she said youll never get tired doing what you love.