Entrepreneurship 1: Developing the Opportunity from Coursera

How does a good idea become a viable business opportunity? What is entrepreneurship and who fits the profile of an entrepreneur? This introductory course is designed to introduce you to the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, the difference between entrepreneurship and entrepreneurial management, and the role of venture creation in society. You’ll explore where technology entrepreneurship and impact entrepreneurship align and where they diverge, and you’ll learn proven techniques for identifying the opportunity, assessing the opportunity, hypothesis testing and creating a prototype.

By the end of this course, you’ll know how to test, validate and prototype your idea, and also whether or not you fit the profile of an entrepreneur! You’ll also be ready to move on to the next phase of entrepreneurship in Entrepreneurship 2: Launching the Start-Up.

What's inside

Syllabus

Introduction and Course Materials

This module was designed to introduce you to the team of Wharton professors who are teaching this course and others in the Entrepreneurship Specialization. You will also discover that entrepreneurship has different applications and even different definitions in academia and in practice. By the end of this short module, you'll know what entrepreneurship means to you and others, and understand some of the common arguments about entrepreneurship as a field of study.

Module 1: Introduction to Entrepreneurship

This module was designed to introduce you to the broad definition of the diverse topic of entrepreneurship and to give you an overview of the field. You'll learn the types of entrepreneurs, the most common categories of entrepreneurial ventures, and their key differentiating factors. Using real world examples, you'll see entrepreneurship in action in a wide variety of environments, from small businesses to social enterprises to large corporations. At the end of this module, you'll be able to define what entrepreneurship means to you, whether or not you fit the profile of the entrepreneur, and how to classify your venture to others. You'll also be able to cite current examples of successful entrepreneurial enterprises to support your own venture.

Module 2: Opportunity Analysis

In this module, you'll learn how to discover, develop, and assess opportunities, so you can choose one that has the best potential for success. Starting an enterprise is uncertain by nature, but you can increase certainty and decrease some risk by evaluating potential opportunities using thoughtful processes proven to help you decide which opportunities are better positioned for growth. You'll learn how to determine a market need, develop a solution, evaluate your solution using a variety of methods, and pressure test your idea. You'll also learn several methods of evaluating opportunity, including using customers, the VIDE model, and the tournament method. You'll see these processes applied to real world examples of both opportunities which were ultimately successful and those that failed. By the end of this module, you'll be able to apply these evaluation process to your own opportunities, and/or use them to discover new ones with greater potential for growth.

Module 3: Markets, Need-Finding and Planning

This module will help you define your market, identify your user, harness the wisdom of the crowd, and come up with an informed plan for your venture. You'll learn market segmentation, how to determine user needs, how to use the competitive landscape as well as potential users to refine your idea, and how to create a simple but powerful plan for your start-up that will allow you to avoid common mistakes and pitfalls. By the end of this module, you'll be able to refine your own pitch, develop a clearer picture of your user, and develop a useful model for your own enterprise.

Module 4: Pitching, Testing, and Prototyping

In this module, you'll learn how to pitch your idea, test it, and create a prototype. You'll learn why there's no single formula for a successful pitch, the best techniques for formulating good surveys, and strategies for creating prototypes for physical goods, software, and services. By the end of this module, you'll be be able to identify the key components of a successful pitch, know how to use surveys effectively to test your idea, and come up with a plan for building a prototype of your own product or service.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores core concepts of entrepreneurship, including definitions, profiles, differences between entrepreneurship and entrepreneurial management, and the role of venture creation in society

Provides understanding of entrepreneurial opportunities, how to identify them, assess them, and create prototypes for testing

Taught by prominent Wharton professors recognized for their work in entrepreneurship

Suitable for beginners seeking to learn the fundamentals of entrepreneurship

Can help learners discover whether they align with the profile of an entrepreneur

Provides a foundation for learners who wish to pursue further coursework in entrepreneurship

Reviews summary

Intro to entrepreneurship

According to students, this course teaches learners about developing an opportunity in entrepreneurship and even provide concrete tools to use.

Engaging content that's easy to understand.

"it was a great course and there were lots of new things to learn in it."

"Also easy to understand and very interesting."

Provides concrete tools to use that can help you develop an opportunity.

"It's the first one I'm really satisfied with."

"It's well explained and they give us concrete tools."

Some students wish there were more assessments.

"The class is a little too easy at times, and I wish there were more assessments"

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Entrepreneurship 1: Developing the Opportunity with these activities:

Review basic statistics concepts

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The course requires a basic understanding of statistics, and this activity helps to refresh those skills.

Browse courses on Statistics

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Review your notes
Take a practice quiz
Watch a tutorial

Watch online tutorials on business model innovation

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Videos and tutorials provide additional resources for understanding business model innovation, which is a key topic in the course.

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Watch the tutorials
Take notes
Share your learnings with others

Read Lean Analytics

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This book provides a framework for data-driven decision-making in startups and will supplement the course materials on opportunity analysis.

View Lean Analytics: Use Data to Build a Better... on Amazon

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Read the book
Summarize the key concepts
Create a presentation on the book

Four other activities

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Show all seven activities

Attend a startup pitch competition

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Witnessing entrepreneurs pitch their ideas will reinforce the concepts of opportunity assessment and pitching from class.

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Attend the pitch competition
Evaluate the pitches
Network with other attendees

Solve the following problems

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Startup funding and financial modeling are complex topics, and the practice drills will provide the opportunity to apply the concepts learned in class.

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Solve the problem set
Check your answers
Review the solutions

Case study discussion groups

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Peer case study discussion groups will provide an opportunity to apply the concepts learned in class to real-world scenarios.

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Read the case study
Prepare discussion questions
Participate in the discussion

Develop a company prototype

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Developing a company prototype provides practical experience in applying the concepts of opportunity assessment and pitching learned in the course.

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Define the problem
Brainstorm solutions
Create a prototype
Pitch the prototype

Career center

Learners who complete Entrepreneurship 1: Developing the Opportunity will develop knowledge and skills that may be useful to these careers:

Entrepreneur

Entrepreneurs are individuals who start and run their own businesses. They are responsible for all aspects of their businesses, from developing the idea to marketing and sales. This course would be useful to Entrepreneurs because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

See salaries and explore the career path for Entrepreneur

Innovation Consultant

Innovation Consultants help businesses develop and implement new ideas. They work with clients to identify opportunities, develop strategies, and create prototypes. This course would be useful to Innovation Consultants because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

See salaries and explore the career path for Innovation Consultant

Venture Capitalist

Venture Capitalists invest in early-stage companies with high growth potential. They provide funding and support to help these companies succeed. This course would be useful to Venture Capitalists because it teaches them how to identify and evaluate investment opportunities. The course also teaches how to conduct due diligence and negotiate term sheets.

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Technology Transfer Manager

Technology Transfer Managers help universities and research institutions commercialize their technologies. They work with researchers to identify and evaluate technologies with commercial potential. This course would be useful to Technology Transfer Managers because it teaches them how to identify and evaluate investment opportunities. The course also teaches how to conduct due diligence and negotiate term sheets.

See salaries and explore the career path for Technology Transfer Manager

Private Equity Investor

Private Equity Investors invest in private companies with high growth potential. They provide funding and support to help these companies succeed. This course would be useful to Private Equity Investors because it teaches them how to identify and evaluate investment opportunities. The course also teaches how to conduct due diligence and negotiate term sheets.

See salaries and explore the career path for Private Equity Investor

Business Analyst

Business Analysts help businesses improve their operations and performance. They identify and analyze problems and recommend solutions. This course would be useful to Business Analysts because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

See salaries and explore the career path for Business Analyst

Strategy Consultant

Strategy Consultants help businesses develop and implement their strategies. They work with clients to identify opportunities, develop strategies, and create prototypes. This course would be useful to Strategy Consultants because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

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Management Consultant

Management Consultants help businesses improve their operations and performance. They work with clients to identify and analyze problems and recommend solutions. This course would be useful to Management Consultants because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

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Product Manager

Product Managers are responsible for the development and launch of new products. They work with engineers, designers, and marketers to bring products to market that meet the needs of customers. This course would be useful to Product Managers because it teaches them how to pitch an idea, test it, and create a prototype. These skills are essential for success in product management.

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Investment Banker

Investment Bankers help companies raise capital and advise them on mergers and acquisitions. This course would be useful to Investment Bankers because it teaches them how to identify and evaluate investment opportunities. The course also teaches how to conduct due diligence and negotiate term sheets.

See salaries and explore the career path for Investment Banker

Financial Analyst

Financial Analysts help businesses make informed financial decisions. They analyze financial data and make recommendations about investments and financial strategies. This course would be useful to Financial Analysts because it teaches them how to identify and evaluate investment opportunities. The course also teaches how to conduct due diligence and negotiate term sheets.

See salaries and explore the career path for Financial Analyst

Market Research Analyst

Market Research Analysts conduct research to understand market conditions, customer behavior, and industry trends. They use this information to help businesses make informed decisions about product development, marketing, and pricing. This course would be useful to Market Research Analysts because it teaches them how to define a market, identify user needs, and harness the wisdom of the crowd. These skills are essential for success in market research.

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Sales Manager

Sales Managers are responsible for leading and managing sales teams. They develop sales strategies, set targets, and motivate their teams to achieve success. This course would be useful to Sales Managers because it teaches them the foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management. The course also teaches how to test, validate, and prototype an idea.

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Business Development Manager

Business Development Managers are responsible for identifying and pursuing new opportunities for their companies. They research markets, develop strategies, and build relationships with potential clients and partners. This course would be useful to Business Development Managers because it helps build a foundation in opportunity analysis, which is a key skill for success in the role. The course teaches how to discover, develop, and assess opportunities, so Business Development Managers can choose those with the best potential for success.

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Corporate Venture Capital Analyst

Corporate Venture Capital Analysts get involved in the process of researching and investing firm capital into opportunities outside the core business. They might conduct due diligence into new markets or competitive threats, providing insights to their firms that help them make informed choices about investments. This course may be useful to Corporate Venture Capital Analysts because it teaches foundational concepts of entrepreneurship, including the definition of entrepreneurship, the profile of the entrepreneur, and the difference between entrepreneurship and entrepreneurial management.

See salaries and explore the career path for Corporate Venture Capital Analyst