Unit 1: Ideation This unit introduces students to what a startup is and how to develop a sound business plan using a Business Model Canvas. Students will start to develop ideas individually and will form teams based on common interests. Students will begin to refine and develop their idea by going through the process of competitive analysis and identifying the value proposition customers will find meaningful. Lessons include: Business Model Canvas, Group Ideation, BMC Refinement, Competitive Analysis, Value Proposition
Unit 2: Customer Discovery Students learn the importance of customer feedback in the business development cycle. They will create detailed customer segment profiles to guide business choices They will begin to test some of the assumptions they developed on their business canvas by completing problem and solution interviews. They will be matched with mentors, receive feedback and define their mentor student relationship. Lessons include: Customer Segmentation, Mentor Match, Problem Interview, Solution Interview
Unit 3: Customer Connections Students will outline the most effective and efficient path to reach customers including physical channels and virtual channels. This unit will define the various ways to connect with customers from messaging to identifying specific marketing tactics to gain awareness with early customers. Teams will create positioning statements, for their product/service that will guide how they communicate to customers and what they will say that will be influence customers to purchase. Lessons include: Positioning, Channels, Customer Relationships, Marketing for Startups
Unit 4: Dollars and Cents This unit will cover the fundamentals on how to use a financial model spreadsheet to determine the financial viability of a business. Students will learn the inputs to the model which will include assumptions how they plan to earn revenue and the cost estimates to produce their good or service. Market sizing will define the opportunity of their idea in terms of potential number of customers and dollar revenue. The unit concludes with a student developed model outlining the profit potential of the business. Lessons include: Pricing, Market Sizing, Mechanics of Excel, Estimating Costs, Intro to Financial Statements, Financial Modeling
Unit 5: Building Your MVP Students will develop an abbreviated prototype of their business to test the efficacy of their idea before bringing it to full scale. This is called the Minimum Viable Product (MVP). Each team will present their MVP and funding proposal to the Board of Advisors who will provide each team valuable feedback and possibly a small amount of funding to launch their MVP. Lessons include: Web/App Development, MVP Design, MVP Funding, Prep for Pitch, MVP Pitch
Unit 6: Validation/Experimentation The experimentation starts now and continues through the end of semester. Students begin testing the riskiest assumptions to their business model. Project management skills are introduced to keep teams on task and focused on getting as much marketplace data in the time allotted before final pitch. Students will be testing and adjusting their model to validate its potential. Practical legal concepts on company formation and intellectual property are introduced. Lessons include: Implementation Planning, MVP Experimentation, Legal
Unit 7: Promotion Students begin building their “story” that will outline their business idea and persuade customers and potential investors. Marketing plans will develop and build on the concepts previously introduced in Unit 3. Using their latest marketplace data from MVP tests they outline the best tactics to promote their business. Students will develop marketing and sales plans for their company including promotional strategies. Lessons include: Storytelling, Marketing Planning, Sales Planning
Unit 8: Pitch Your Story Students focus on developing the financial story that will be part of their pitch. The business financial model will be updated with refined estimates based on the MVP learning. The year will culminate with teams pitching their plan to investors with the hope of winning funding what will allow them to launch their idea during the summer and following year. Lessons include: Finances, Funding Requests, Prep for Pitch, Final Pitch
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