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Develop your venture

École Polytechnique via OpenClassrooms

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Overview

There you are: you have a venture idea, which seems reasonably good. Or not, and then, you may want to follow my first MOOC, Decode the entrepreneur's DNA, which will help you to find an idea.

Well, if you have this idea, then the next step is to transform that promising opportunity into a real life venture! This is where the real challenge starts for the entrepreneur, and this is where the subtle chemistry of entrepreneurial success mostly lies.

And the key is to get out of your building ! Go meet your customers, and try to find what they want, what they need and what they would buy. Having good ideas, identifying big problems and shaping them into promising opportunities is important, carrying a vision is good, even crucial... But is not the toughest part of the entrepreneurial journey. You should now bring your idea to life, and I would like to suggest a 4-times path :

  • Define your market? Who will you sell to?
  • Prototype your ideas: it's the only way to see if an idea works.
  • Build your business model thanks to the framework I will give you.
  • Think strategic, think ahead, and identify your potential issues!

Syllabus

Part #1 - Characterize your market
1. The Sweetch case
2. Analysing the Sweetch case
3. Why bother yourself about the market?
4. Differentiate the various levels of market
5. Assessing the addressable market: the process?
6. Assessing the addressable market: the value proposition
7. Assessing the addressable market: profiling the customer ?
8. Assessing the addressable market: the remaining questions?
9. Assessing the addressable market: what to remember?
10. Find information
11. Summing up
Quiz: Quiz 1
Activity: Characterize a market

Part #2 - Test and prototype your idea
1. From the idea to the product
2. Conceive your MVP
3. Learn from designers about how to prototype
4. Don’t forget about pivoting
5. How Let It Wave pivoted 5 times throughout its life ?
6. Summing up
Quiz: Quiz 2

Part #3 - Use the business model as a guide for execution
1. What is the business model framework?
2. Part 1 of the business model framework
3. Part 2 of the business model framework
4. Optiways Business case
5. Let’s apply the framework to a real opportunity
6. Summing up
Activity: Build a business model

Part #4 - Leverage the business model for early strategic thinking
1. How business model decisions impact strategy?
2. The value as a subsystem
3. What can we learn from Dell and other about the organization as a subsystem?
4. Discover how the economic subsystem can lower adoption hurdles
5. Keep in mind the strategic dynamic of the system
6. Summing up
7. Conclusion
Quiz: Quiz 3

Taught by

Bruno Martinaud

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