Details of ID3112 (Autumn 2018)
| Level: 3 | Type: Theory | Credits: 4.0 |
| Course Code | Course Name | Instructor(s) |
|---|---|---|
| ID3112 | Basic Entrepreneurship | Sayam Sen Gupta |
| Preamble |
|---|
| BASIC COURSE IN ENTREPRENEURSHIP (From Idea to Business Model) |
| Syllabus |
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| Milestones
Lesson Session Details Effectuation Find your flow Case Study: Tristan Walker: The extroverted introvert Identify your entrepreneurial style What is a business opportunity and how to identify it Find problems around you that are worth solving Methods for finding and understanding problems - (Observation, Questioning, DT, Jobs to be done (JTBD) How to run problem interviews to understand the customer's worldview Introduction to Design Thinking - Process and Examples Generate ideas that are potential solutions to the problem identified - DISRUPT GOOTB: Run problem interviews with prospects Class Presentation: Present the problem you "love" Form teams The difference between a consumer and a customer (decision maker); Market Types, Segmentation and Targeting, Defining the personas; Understanding Early Adopters and Customer Adoption Patterns Identify the innovators and early adopters for your startup Come up with creative solutions for the identified problems Deep dive into Gains, Pains and Jobs-To-Be-Done (using Value Proposition Canvas, or VPC) Identify the UVP of your solution using the Value Proposition section of the VPC Outcome-Driven Innovation Class Presentation: Communicating the Value Proposition- 1 min Customer Pitch Basics of Lean Approach and Canvas; Types of Business Models (b2b; b2c) Sketch the canvas- "Document your Plan A" GET STARTED Identify Problems Worth Solving BUSINESS MODEL Identify Your Customer Segments and Early Adopters Discover Yourself CUSTOMER Get Started with Lean Canvas Craft Your Value Proposition IDEA/PROBLEM Intro to Risks; Identify and document your assumptions (Hypotheses); Identify the riskiest parts of your plan Class Presentation: Present your Lean Canvas Build solution (mockups) demo How to run solution interviews GOOTB: Run Solution interviews Does your solution solve the problem for your customers: The problem-solution test Differences between a Startup venture and a small business; Industry Analysis: Understanding what is Competition and it's role, Analyse competition Case study: Blue Ocean Strategy Identify an MVP and build it - I; Document and validate your assumptions Build-Measure-Learn feedback loop and the MVP/Javelin Board How to do MVP Interviews GOOTB: Run MVP interviews Is there a market for your product --The product- market fit test Class Presentation: Present your MVP Revenue Streams Basics of how companies make money Understand income, costs, gross and net margins Identify primary and secondary revenue streams Value, price, and costs; Different pricing strategies Understand product costs and operations costs; Basics of unit costing Financing Your New Venture How to finance business ideas Various sources of funds available to an entrepreneur and pros and cons of each What investors expect from you Practice Pitching to Investors and Corporates Shared Leadership Role of a good team in a venture's success; What to look for in a team; How do you ensure there is a good fit? Defining clear roles and responsibilities How to pitch to candidates to join your startup MONEY BUSINESS MODEL Get Started with Lean Canvas VALIDATION Develop the Solution Demo Sizing the Opportunity Building an MVP Pricing and Costs Team Building TEAM Explore collaboration tools and techniques - Brainstorming, Mindmapping, Kanban Board, Slack Understand the difference between product and brand and the link between them Define the positioning statement for your product/service and how it should translate into what your customers should see about that brand in the marketplace. Building Digital Presence and leveraging Social media Creating your company profile page Measuring the effectiveness of selected channels Budgeting and planning Understanding why customers buy and how buying decisions are made; Listening skills Sales planning, setting targets Unique Sales Proposition (USP); Art of the sales pitch (focus on customers needs, not on product features) Follow-up and closing a sale; Asking for the sale Importance of project management to launch and track progress Understanding time management, workflow, and delegation of tasks Basics of business regulations of starting and operating a business; Importance of being compliant and keeping proper documentation How to find help to get started SUPPORT Planning & Tracking Business Regulation Sales Planning Positioning MARKETING & SALES Channels & Strategy Team Building Capstone Project: Present Busines |
| References |
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Course Credit Options
| Sl. No. | Programme | Semester No | Course Choice |
|---|---|---|---|
| 1 | IP | 1 | Not Allowed |
| 2 | IP | 3 | Not Allowed |
| 3 | IP | 5 | Not Allowed |
| 4 | MR | 1 | Not Allowed |
| 5 | MR | 3 | Not Allowed |
| 6 | MS | 5 | Core |
| 7 | RS | 1 | Not Allowed |
| 8 | RS | 2 | Not Allowed |