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LinkedIn Learning

Entrepreneurship: Finding and Testing Your Business Idea

via LinkedIn Learning

Overview

Determine what new businesses are best suited for you as an entrepreneur. Brainstorm ideas, identify the best opportunity, and test the validity of the business before starting.

The prospect of starting your own business from scratch can feel at once exhilarating and overwhelming. Before you launch a new business, it's critical that you validate and test your ideas to determine if they represent legitimate market needs. In this course, Dave Crenshaw helps you determine first which businesses are best suited to you as an entrepreneur, and then how to brainstorm ideas and identify which idea is a real opportunity. Lastly, he helps you create and execute a plan to test for validity before you start a business.

Syllabus

Introduction
  • Welcome
  • What you should know before watching this course
  • Using the exercise files
1. Matching the Idea to the Entrepreneur
  • Know yourself as the entrepreneur
  • Be aware of needs
  • Develop the new business idea list
  • Narrow the list to your best ideas
2. Separating Ideas from Opportunities
  • Understand the difference between idea and opportunity
  • Evaluate demand
  • Gauge your expertise
  • Assess your resources
  • Predict profit
  • Consider distribution
  • Determine proprietary advantage
  • Finalize your single best business idea
3. Creating the Micro Plan
  • Understand the business validation micro plan
  • Focus the business test
4. Executing the Micro Plan
  • Craft a few summary statements
  • Determine the best testing option
  • Test 1: Interview or survey
  • Test 2: Online ad
  • Test 3: Micro pay-per-click
  • Evaluate your results
Conclusion
  • Next steps

Taught by

Dave Crenshaw

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