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University System of Maryland

Creating Innovative Business Models

University System of Maryland and University of Maryland, College Park via edX

Overview

This course was created to guide aspiring and active startup entrepreneurs and corporate innovators that feel...

  • Overwhelmed by the tasks of creating a new venture
  • Frustrated with finding the right team at the right time
  • Disappointed by the widespread failure of bringing good ideas to market

It’s common to desire...

  • Innovative approaches and tools to help create a startup company or corporate venture
  • Intelligence on what customers really want, and are willing to pay for
  • Insights on the big picture of crafting a startup company, and how the puzzle pieces fit together

This course will help you to...

  • Understand the theory and practice of value creation
  • Determine how to build the right team for your startup company or corporate venture
  • Avoid wasting time with startup ideas with limited commercial potential
  • Raise the right financial capital at the right time for the right purpose By the end of this course, you will be positioned to...
  • Effectively design value propositions that directly align with your target customers’ interests
  • Assemble and lead an well-comprised team to produce results that create value for your customers
  • Pursue big ideas that really matter to customers
  • Craft a financial model that minimizes risks and maximizing your success

Syllabus

Module 1: Value Proposition

A value proposition describes the benefits customers can expect from your product or service. You must understand and validate the set of customer needs and wants before launching the venture. Before assuming that these needs and wants are true, it’s important to validate that they do indeed exist. To understand value propositions, we’ll examine how to define the problem, understand competition, and achieve product-market fit.

Module 2: Team Strategy

Building your startup team is one of the most important activities that you will engage in as a startup entrepreneur or corporate innovator. We’ll discuss how to identify and engage the founding team.

Advisers can also assist in reaching your goals quicker, and achieving more sooner. We’ll discuss how to establish adviser relationship, and how to leverage their skills and relationships.

Beyond founders and advisers, partners are often a fundamental element of the team equation. We will explore how to establish and manage partnerships. We’ll also discuss how outsourcing can improve your success.

Module 3: Market Strategy

Marketing may be basically defined as “putting the right product in the right place, at the right price, at the right time”. While simple in concept, significant research, analysis, and planning is required to develop and implement the strategy.

In this segment, we will introduce the Four Ps (product, price, placement, and promotion), the history and purpose of the marketing mix concept and terminology, key features of the marketing mix, and how to develop the marketing mix.

Module 4: Financial Strategy

In the final segment of the course, we’ll explore the financial strategy with attention to the revenue model, cost model, sales model, and funding model. We will discuss developing your revenue model, types of revenue streams, ways to generate revenue streams, selling strategies, and the pros and cons of various funding mechanisms.

Taught by

James Green

Reviews

4.9 rating, based on 25 Class Central reviews

Start your review of Creating Innovative Business Models

  • Profile image for Umaid Dogar
    Umaid Dogar
    This course is very well taught and in the most simple way. The instructor becomes my favorite. also, it's extensive enough to give a whole perspective of how, when, and why you should start a business and what are the ways.

    There is a well-defined framework that breakdowns into simpler modules and are highly understandable. I believe if anybody wants to start a Business or startup, this course will give you enough understanding to kick off your venture and bring it closer, to your goals and success.

    It will give you an idea about what business to choose, cost, risks, funding, founder, and marketing strategies, and what not. HIGHLY RECOMMENDED.
  • Anonymous
    Great course. Relevant content that is applicable to a variety of industries. In fact, this course is not only important for who wants to start a business, it is important for who already has a business and wants to do it better. The facilitator delivers the information magically well. Super.
  • Profile image for Bachar Acherif
    Bachar Acherif
    hello please accept my greetings for my humble abode i would give more than 5 star the teaching of the course they are so detailed i learned a lot not for the certificate but the learning in his courses thank you
  • Anonymous
    Hello,
    My name is Jane from Kenya.
    This course has been very helpful and resourceful. Thank you James Green
  • Anonymous
    What an interesting course with detail approachs on production services. There are many metrics and criteria need to measure and evaluate the product roadmap and its feasibility. How to bring it into your funding talk show.
  • Anonymous

    Anonymous completed this course.

    The instructor is great. I liked that the course included step-by-step modules. I have learned a lot from the course and I am absolutely sure that I can apply everything I have learned in the course to build a startup.
  • Anonymous

    Anonymous completed this course.

    This was a very solid and considered run-through of the end-to-end requirements for a start-up. It was lean, clean and efficient in its structure, making it a great tool for anyone from (a) an undergrad seeking an overview of what is required to create...
  • Anonymous
    Great course and excellently delivered. I found the course very valuable and definitely learned a lot.
  • Anonymous
    For what sounds like a vey daunting course, Dr Green takes the learner seamlessly through the various phases and learning curve of a startup. The clarity of thought of the teacher translates effortlessly to the lectures, which are crisp and to the point.

    I greatly enjoyed the learning experience.
  • Anonymous
    Very comprehensive with very detailed approach by the professor. Appreciate hugely the discussions on value proposition, product market fit, the start-up analysis canvas, market strategy, the four financial strategy models with side discussion on the sales process and sales tools.
  • Anonymous
    Amazing course , very informative, includes all the key points you need to know to startup a business , with helpful examples

    The instructor is very nice to hear , his voice is very clear and understandable for those who doesn't speak English as their mother language
  • Anonymous
    Thanks for a very insightful and informative course, which has taught me a lot in my endeavors of starting my own business after over 20 years in the corporate world and now I'm getting closer to making that bold move.
  • Anonymous
    It's a great course for those who are curious and want to explore more about startups. The course structure is straightforward, a few parts are heavier than another, but most importantly, it is easy to follow and understand.
  • Anonymous
    Great course! I like the practical approach and the examples given in each module. Also, the worksheet at the end of the module provides a great guide for practical application in business.
  • Anonymous
    Practical and insightful course. Lot of useful tips and resources have been shared. Highly recommended for existing and future entrepreneurs.
  • Subhromoy Mukherjee

    Subhromoy Mukherjee completed this course.

    This was something I was searching to learn. The world needs innovation. I was interested to know how to innovate business models. This course will help me in taking first steps towards this . I hope to use this in practical life.
    The course was very informative and well explained. Lots of learning opportunity. The lectures were very interesting. I thoroughly enjoyed my learning.
    Thanks to the teaching and supporting team.
  • Anonymous
    Excellent course. Relevant content, very didactic instructor, and perfect balance between academic theory and practical examples. Only better if some questions in the quiz were better aligned with the content provided, and if the worksheet had been presented in an editable format.
  • Man Lakshmanamoorthy
    Creating Innovative Business Models is an excellent course and a must learning for all who are planning a startup.

    I have learnt a great deal from this course. Congratulations to edX and Maryland University for designing such a wonder course.

    Mani Lakshmanamoorthy
  • Anonymous

    Anonymous completed this course.

    This is a very informative and practical course for anyone involved in a start-up. I would recommend this course to not only those who are seeking to start a new company, but also for those who are contemplating working at a start-up.
  • Anonymous
    The brief but well explained format of this course makes me love it.It comes with all the necessary notes required for one to start from the early stages of idea generation(value proposition) up to the funding strategy.

    Love from Uganda

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