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Online Course

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

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Reviews

4.8 rating, based on 10 reviews

Start your review of Creating Innovative Business Models

  • 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...
  • 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 course was very inspiring and instructive. Many good and concrete tips. Reasonable length of the lecture. Perfect to follow the lectures and read the book "The Startup Analysis Canvas" in parallel.
  • Anonymous
    This was a really good course. I loved how it was focused more on the different options a startup can pursue and not saying this is what you have to do or else you will fail
  • Anonymous

    Anonymous completed this course.

    This course is a very practical not only for those whom looking for start up their business but also for people working in PMOs or Developement Projects
  • Vania Budidjojo

    Vania Budidjojo completed this course, spending 14 hours a week on it and found the course difficulty to be medium.

    Overall this course is so help me to understand innovative business model and how to start our own start up.

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