Capstone - Launch Your Own Business! from Coursera

It is a cliché, but nevertheless very true. Experience is the best teacher. It is also the best confidence builder. It is time for you to take action! The concepts and skills presented throughout the courses in the specialization are applied in this capstone course where you will launch an actual business.

It will not be a business concept described on paper, but a functional business with legal status in your particular governmental jurisdiction, developed within your available resources whatever they are, and challenged to generate revenue.

One of the greatest benefits of this specialization is the business development environment provided by the population of learners. At the point of the capstone course your thousands of fellow learners become consultants capable of refining and adding value to your business concept, they may also be potential customers or at the very least allow you to observe the likely reactions from potential customers.

With the experience of launching this startup, and the execution capabilities and confidence gain from that experience it is our desire that you repeat the process and launch another startup or a bigger version of this startup. Hopefully going on to launch another, and another, and another, evoking another cliché, 'practice will make perfect'.

What's inside

Syllabus

Capstone Welcome & Overview

The goal of this assignment is to demonstrate your ability to apply all of the lessons you have completed by putting them to work and launching your own business in some form or fashion. This assignment is the sole assignment of this capstone course, and thus the last requirement for your certificate for this specialization. The primary goal though is for you to no longer be in the wishing stage, the thinking stage, or the taking classes stage, but to be in the 'have started something stage'. As stated above you will create a business. Specifically: • you will create and document a legal entity; • you will create a digital presence for that legal entity; • you will establish key operational plans (strategy statement, accounting ledgers, production and delivery schedules, and marketing plan); and • you will produce one of three tangible outcomes (sales, traffic to an e-commerce site, or feedback to business pitch). A successful assignment will illustrate your competence in the business startup fundamentals, but most importantly it will illustrate to yourself, beyond a shadow of a doubt that YOU CAN DO THIS!

Creating Your Legal Entity

In this module you will be taking the first step toward the launch of your new business by creating a legal entity for your company. (Note: Much of the entity creation process can be handled by the individual, but we do recommend that you speak with an attorney to assist in this process.)

Setting Up Your Bank Account

Now that we've established a business entity you are going to need to have a place to store all of the future revenue you make. In this module you will be tasked with setting up a bank account (or alternative) for the purpose of handling financial transactions related to your business entity. As a reminder it is critically important to try as hard as possible to keep your business and personal finances separate as to avoid any commingling of funds, and to protect personal assets from liability in case of litigation.

Create Your Digital Presence

In today's technologically driven economy your company's digital presence is a critical component in your future success. In this module you will be tasked with building the basics of your digital presence including: website and social media accounts.

Establish Your Financial Statements

Learners will be tasked with developing all three of their financial statements for their company. These are not financial projections but rather established templates / ledgers with defined line items for the Income Statement, Balance Sheet and Cash Flow Statement. Note: Learners may find it beneficial to review the lectures on creating financial proforma statements to refresh terminology.

Create a Path Forward

At this point in the Capstone experience, you will be at one three points: 1) you will have a minimally viable product or service that they will be able to produce and deliver to a paying customer, 2) you will have a minimally viable product or service but currently not capable of delivering to a customer, 3) you do not have a product or service that is nearing a point of delivery. Because of this reality the types of deliverables you will be able to complete at this point will vary and you will be prompted to respond with the based on your operational status.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores starting a business, which is a transformative experience

Teaches the fundamentals of business startup, such as creating a legal entity and establishing key operational plans, which are essential for any entrepreneur

Provides an environment for business development and feedback from fellow learners, which is invaluable for entrepreneurs

Taught by Ken Szymusiak and Forrest S. Carter, who are recognized experts in entrepreneurship and business development

Offers hands-on experience in starting a business, which is the best way to learn

Requires no prerequisites and is accessible to learners of all levels

Reviews summary

Launch your own business course

Learners say that Capstone - Launch Your Own Business! is exceptional and very helpful for those wanting to start their own business. Students report that the course is engaging, well-structured, and offers useful insights for entrepreneurs. Those who enrolled in the course highly recommend it.

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 Capstone - Launch Your Own Business! with these activities:

Setting Up Accounts

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Review creating forms for banks, regulators, vendors, and customers to prepare for business financials.

Browse courses on Accounting Fundamentals

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Review documents required to open a bank & merchant account.
Set up accounts with a bank and a payment processor.
Designate a business phone number and email address.
Establish a system for tracking income and expenses.
Create a budget for the business.

Design a Business Logo

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Designing a business logo strengthens your visual identity and gives your customers something to recognize and remember.

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Research different logo design styles.
Sketch out some ideas.
Create a digital mock-up of your logo.
Get feedback from others on your logo.
Finalize your logo design.

Draft a Business Plan

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Drafting a business plan helps you to identify your business goals, strategies, and financial projections.

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Develop a mission statement for your business.
Identify your target market.
Describe your products or services.
Develop a marketing and sales strategy.
Create a financial plan.

Five other activities

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Attend Industry Events

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Attending industry events allows you to network with potential customers, partners, and investors, as well as learn more about the latest trends.

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Research industry events in your area.
Register for events that are relevant to your business.
Attend the events and network with other attendees.

Join a Business Incubator or Accelerator

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Joining a business incubator or accelerator can provide you with mentorship, resources, and networking opportunities that are tailored to your business needs.

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Research different business incubators and accelerators in your area.
Apply to the incubator or accelerator that is the best fit for your business.
Attend the incubator or accelerator program.

Start a Blog or Website

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Starting a blog or website gives you a platform to share your knowledge and expertise, and connect with potential customers.

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Choose a blogging platform.
Create a blog or website.
Write and publish high-quality content.
Promote your blog or website.
Track your results and make adjustments as needed.

Develop a Marketing Campaign

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Developing a marketing campaign helps you to reach your target market and promote your products or services.

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Define your target market.
Set your marketing goals.
Develop your marketing message.
Choose your marketing channels.
Create your marketing materials.
Launch your marketing campaign.

Develop a Business Plan

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Having a business plan will help you to focus your efforts and achieve your goals.

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Describe your business and its mission.
Analyze your market and competition.
Develop your products or services.
Create a marketing and sales plan.
Forecast your financial performance.

Career center

Learners who complete Capstone - Launch Your Own Business! will develop knowledge and skills that may be useful to these careers:

Startup Founder

Startup Founders are individuals who start and run their own businesses. A Capstone - Launch Your Own Business! course may be useful as it could help Startup Founders develop the skills and knowledge necessary to launch and grow their own businesses. The course could also help Startup Founders build a network of other startup founders who can provide support and advice.

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Small Business Owner

Small Business Owners are individuals who own and operate their own businesses. A Capstone - Launch Your Own Business! course may be useful as it could help Small Business Owners develop the skills and knowledge necessary to launch and grow their own businesses. The course could also help Small Business Owners build a network of other small business owners who can provide support and advice.

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Entrepreneur

Entrepreneurs are individuals who start their own businesses. A Capstone - Launch Your Own Business! course may be useful for Entrepreneurs as it could help them develop the skills and knowledge necessary to launch and grow their own businesses. The course could also help Entrepreneurs build a network of other entrepreneurs who can provide support and advice.

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Technology Entrepreneur

Technology Entrepreneurs are individuals who start and run their own technology businesses. A Capstone - Launch Your Own Business! course may be useful as it could help Technology Entrepreneurs develop the skills and knowledge necessary to launch and grow their own technology businesses. The course could also help Technology Entrepreneurs build a network of other technology entrepreneurs who can provide support and advice.

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Marketing Manager

Marketing Managers are responsible for planning and executing marketing campaigns. A Capstone - Launch Your Own Business! course may be useful for Marketing Managers as it could help them develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Marketing Managers develop the skills necessary to create and execute effective marketing campaigns.

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Business Development Manager

Business Development Managers are responsible for identifying and developing new business opportunities. A Capstone - Launch Your Own Business! course may be useful as it could help Business Development Managers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Business Development Managers develop the skills necessary to identify and develop new business opportunities successfully.

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Product Manager

Product Managers are responsible for managing the development and launch of new products. A Capstone - Launch Your Own Business! course may be useful as it could help Product Managers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Product Managers develop the skills necessary to manage the development and launch of new products successfully.

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Strategy Consultant

Strategy Consultants are individuals who advise businesses on how to improve their performance. A Capstone - Launch Your Own Business! course may be useful as it could help Strategy Consultants develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Strategy Consultants develop the skills necessary to advise businesses on how to improve their performance.

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Operations Manager

Operations Managers are responsible for overseeing the day-to-day operations of a business. A Capstone - Launch Your Own Business! course may be useful as it could help Operations Managers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Operations Managers develop the skills necessary to manage the day-to-day operations of a business efficiently and effectively.

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Sales Manager

Sales Managers are responsible for managing sales teams and developing sales strategies. A Capstone - Launch Your Own Business! course may be useful as it could help Sales Managers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Sales Managers develop the skills necessary to manage sales teams and develop sales strategies effectively.

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Project Manager

Project Managers are responsible for planning, executing, and closing projects. A Capstone - Launch Your Own Business! course may be useful as it could help Project Managers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Project Managers develop the skills necessary to plan, execute, and close projects successfully.

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Investment Banker

Investment Bankers are professionals who provide financial advice to businesses. A Capstone - Launch Your Own Business! course may be useful as it could help Investment Bankers develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Investment Bankers develop the skills necessary to provide financial advice to businesses effectively.

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Venture Capitalist

Venture Capitalists are individuals who invest in early-stage companies. A Capstone - Launch Your Own Business! course may be useful as it could help Venture Capitalists develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Venture Capitalists develop the skills necessary to identify and invest in early-stage companies with high growth potential.

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Financial Analyst

Financial Analysts are professionals who analyze financial data to make investment recommendations. A Capstone - Launch Your Own Business! course may be useful as it could help Financial Analysts develop a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Financial Analysts develop the skills necessary to analyze the financial performance of businesses and make sound investment recommendations.

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Business Consultant

A Business Consultant is a professional who provides professional advice to organizations on how to improve their performance. A Capstone - Launch Your Own Business! course may be useful as it could help Business Consultants build a deeper understanding of business fundamentals and how to apply them in a real-world setting. This course could also help Business Consultants develop the skills necessary to help their clients launch and grow their own businesses.

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