About the content
Build your capabilities to create a value proposition, team strategy, market strategy, and financial strategy to transform your ideas into a startup company or innovative corporate venture
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
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.
Director of Entrepreneurship Education
University of Maryland, College Park