Description
What you’ll learn
- Identify what problems can be solved by an idea or concept
- Define a value proposition for a new product and identify the unique selling point that can make it appealing to the market
- Conducting market research to understand market needs
- Creating a customer persona and estimating the total addressable market
- Defining the minimum viable product to test the market
- Proof the concept of the product before rolling out the business
- Designing a business model to commercialize your offer
- Identify the resources available and select those appropriate to support the business at the different stages of growth
- Identify the critical KPI’s to drive the growth of the business
- Appraise the alternatives to invest or not in the business
Key skills you will learn
- resilience
- data handling and analysis
- problem-solving
- commercial awareness
- business acumen
Requirements
No specific requirements.
Description
This course is intended to be a quick and useful guide for anyone attempting to start a business. It establishes a step-by-step methodology to examine the various factors that must be considered when initiating a business based on an idea. It covers introductory aspects to allow an initial critical assessment of whether or not the idea can be transformed into a product (or service), and whether or not it may be appealing to fulfill a market need, before developing a gull market offer and initiating a business model.
The examples provided in the course are designed to quickly and effectively introduce these key concepts so that you can immediately apply them to any project related to starting or expanding an existing business. The course is organized in asynchronous and synchronous sessions during 4 weeks beginning in the first week of each month. In a nutshell, the course is organized as follows:
- You will have from the start access to an online computer simulation with a login and password, on which you will be managing an energy drinks business gradually evolving from the start-up phase to international expansion (the login and password will remain active for 1 month after the course ends).
- Each week new theoretical concepts will be introduced to you in a live session with the author, following which the materials will be made available for self-study. The live sessions will be via Zoom.
- You can explore the theoretical concepts explained each week to you, by using the simulation. You will be making business decisions in the simulation and getting immediate results related to your business’s performance and the response from your competitors. Therefore, you will be able to test and see in practical terms how your decisions related to R&D and product development, marketing, distribution, sales, human resources, production, short vs long term financing, and budgeting impact the performance of the business on the market.
Who this course is for
- Entrepreneurs planning to start or grow a business, particularly those selling to the end consumer
- Managers who want to understand better the implications of starting a new business project
Course content
4 weeks • 15 sections • 30 lectures • Total asynchronous time 22 hours, of which about 12 hours of gameplay (using the computer simulation) • Total synchronous time 4 hours
Week 1
Live/synchronous – Monday at 12 noon UK time (the first week of the month)
Section 1: Introduction to the course, identifying the problems to be solved by the idea (45 mins)
Self-study/asynchronous:
Section 2: Narrowing the solutions offered to the market
Section 3: Defining the value proposition around the unique selling points of the product
Section 4: Conducting preliminary market research
Week 2
Live/synchronous – Monday at 12 noon UK time
Section 5: Identifying who your customer is and what is the size of the market (45 mins)
Self-study/asynchronous:
Section 6: Defining a minimum viable product
Section 7: Refining the product based on feedback from customers and research on competitors
Week 3
Live/synchronous – Monday at 12 noon UK time
Section 8: Designing a business model to explore the product and enter the market (45 mins)
Self-study/asynchronous:
Section 9: Identifying the resources needed to start and grow a business
Section 10: Ascertaining the feasibility of a business model
Week 4
Live/synchronous – Monday at 12 noon UK time
Section 11: Key Performance Indicators to assess the performance of a business (45 minutes)
Self-study/asynchronous:
Section 12: Identifying sources of resources and how they have to adapt to the life cycle of the business
Section 13: Appraising the alternatives to investing or not in a business from a financial perspective
Section 14: Final assessment quiz
Live/synchronous – Friday
Section 15: Final Q&A and conclusion (45 mins)
Prove you’re ready!
- Highlight the new, relevant skills you’ve gained and supplement existing qualifications with a digital micro-credential.
- Create a shareable certificate link for your CV and LinkedIn.
- Impress stakeholders with learning outcomes you can add to your CV.
- Make your career dreams a reality.
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