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Online Course

Applied Entrepreneurship 1: Design Thinking for Business Acceleration

University System of Maryland via edX

46
Found in Entrepreneurship

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Overview

Growing a small business takes work and vision. It takes innovation, brainstorming, iteration, and advice.  In this course we introduce the concept of design thinking and a tool called the Business Model Canvas to help you accelerate your business.  You’ll learn the nine components of the Business Model Canvas as well as how to identify the most relevant components to iterate through brainstorming with a variety of stakeholders in your business—your current customers, your potential customers, and advisors of your choosing.  You will work through your own Business Model Canvas and present your acceleration plan at the end of this course.

This course is taught by a venture capital  investor with decades of experience working with and teaching entrepreneurs, as well as someone who has written business plans and taught entrepreneurs business planning at several universities.

You will benefit from this course if you have a micro or small business you wish to grow, or a growing business that you need to put more structure around so that you can continue to grow in a managed way.

Syllabus

Week 1 – Begin at the Beginning

Objectives:
  • Assess your personal interests
  • Set personal goals
  • Establish advisory group
  • Be introduced to the Business Model Canvas
Activities:
  • Assessment tool
  • Set up an advisory group
  • Develop a customer persona
Discussion:
  • Customer persona
Week 2 – The Business Model Canvas

Objectives:

  • Understand and utilize the Business Model Canvas;
  • State a hypothesis grounded in the categories of your business regarding how best to grow;
  • Develop a plan to test your hypothesis with advisors, peers, and potential and existing customers
Activities:
  • Meet with two advisory board members
  • Interview three customers
Discussion:
  • Developing customer relationships
Week 3 – The BMC in Real Life

Objectives:
  • Fill out the Business Model Canvas
  • Discuss it with your advisory group
  • Determine which components you’ll need to iterate
  • Develop an organization chart for your business
  • Interview one person you’d like to hire
Activities:
  • Interview one person to hire
  • Develop an organizational chart
Discussion:
  • Interviewing to hire
Week 4 – Test with your Customers

Objectives:
  • Test your model with existing customers
  • Test your model with potential customers
  • Observe at least one competitive company
  • Learn about franchises
Activities:
  • Test your model with existing customers
  • Test your model with potential customers
  • Observe at least one competitive company
Discussion:
  • Speaking with customers versus advisory group

Week 5 – Let’s iterate!

Objectives:
  • Review findings from existing and potential customers
  • Meet and brainstorm with advisory group
  • Discuss your progress and plans with your peers in class
  • Start preparing your final presentation
Activities:
  • Test with different customers or those you want to get
  • Obtain input from advisors – fellow students – instructors
  • Draft presentation

Week 6 – Accelerate!

Objectives:
  • Present final acceleration plan

Activities:
  • Present final acceleration plan

Taught by

Mark Grovic, JD and Michele K. Masterfano, DBA

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