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Allya Koesoema
and
Martin Bliemel
Starting a new business begins with an idea that needs to evolve through experimentation, iteration and interactions with people. This course is for existing and potential entrepreneurs who are looking for guidance and support to make their ‘great idea’ a reality. In addition to reviewing the basic principles of entrepreneurship, this course guides you through the process of actively validating your idea in the market. We encourage you to identify and communicate good opportunities and to create and capture value from these opportunities. By working through the course and completing the activities you’ll learn how to get feedback that systematically tests different parts of your business idea. You will learn how to do this through interacting with potential customers, suppliers, partners and investors outside the course. Along the way, you will also become more confident in pitching your idea. By the end of the course you should have a validated business idea that you can start right away.
Register for this course and see more details by visiting:
OpenCourser.com/course/kbg5f3/how
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What's inside
Syllabus
How can you learn entrepreneurship?
In the first week, you'll be learning about some basic concepts in entrepreneurship. Specifically we're going to introduce the business canvas and the lean method, two key frameworks that will be used to structure your activities throughout this course.
Read more
Syllabus
How can you learn entrepreneurship?
In the first week, you'll be learning about some basic concepts in entrepreneurship. Specifically we're going to introduce the business canvas and the lean method, two key frameworks that will be used to structure your activities throughout this course.
Read more
How is your idea valuable?
This week you'll learn to articulate and test your value proposition by drawing on three concepts: the strategy canvas, persona and minimum viable product (MVP). The strategy canvas emphasizes the uniqueness of your value proposition. The 'persona' represents who you think your typical customer is, which is useful for identifying real customers. The MVP is a simple prototype, which is a key tool to to get feedback from potential customers about the value you are providing them.
How will you reach more customers?
This week we'll help you think beyond your first customers, to scaling up your business across multiple segments of customers. The core concepts for this module are the diffusion of innovation and developing partnerships.
How profitable is your idea?
This week is an introduction to financial literacy. We'll show you how to build an income statement, how to develop financial models and financial forecasts. We'll also introduce you to some metrics to track the viability of your business that complement the traditional accounting metrics.
Is investment capital right for you?
This week you'll learn some basic investment capital strategies for new ventures, illustrated using a simple capitalization table.
How will you pitch your idea?
This week pulls together all the elements and evidence of your business idea so far to develop a coherent and succinct business pitch
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Helps entrepreneurs and pre-entrepreneurs validate their ideas through real world feedback
Provides guidance through the iterative process of launching a company
Taught by instructors who have real world experience in entrepreneurship
Requires active learning, such as interacting with potential customers and conducting market research
Assumes you have some existing experience with entrepreneurship
Save this course
Save How to Validate your Startup Idea to your list so you can find it easily later:
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Reviews summary
Well-received startup validation guide
Learners say this validation course is excellent and very nice, providing interactive and engaging assignments that are of great help. Students especially appreciate the very direct course units and useful core concepts taught by the instructors. Reviewers also note that this course may contain broken links and some surveys and videos are outdated, so students should be prepared to thoroughly research these components for accuracy if they choose to complete this course.
Greatly informative and engaging
"ultimate"
"Thanks for this course ;)"
"Very helpful for Start up to validate their idea!"
"Good one but data and content need to update regular"
Many positive remarks
"very nice and interactive"
"very direct and useful core units"
"very good and interesting"
"extremely valuable"
"worthwhile course"
Quizzes, videos, and readings need refreshing
"Content is good, but task aren't actual now"
"No proper evaluation and many links were broken and outdated"
"Unable to access the tool due to a certificate error"
"The app links do not work"
Links and resources need updating
"broken links"
"videos have been made private"
"external surveys used an expired SSL certificate"
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 How to Validate your Startup Idea with these
activities:
Brainstorm an entrepreneurial idea
Show steps
Come up with as many business ideas as possible to prepare for the course.
Browse courses on
Brainstorming
Show steps
-
Identify a problem or opportunity in your own life or the lives of others.
-
Generate as many solutions as possible, no matter how crazy or unrealistic they may seem.
-
Evaluate the potential of each solution based on its feasibility, marketability, and profitability.
-
Select the most promising solution and develop a brief business plan.
Reading: The Lean Startup
Show steps
This book provides a solid foundation for understanding the Lean Startup approach.
View
The Startup Way: How Modern Companies Use...
on Amazon
Show steps
-
Read the book and take notes on the key concepts.
-
Identify the main takeaways from the book.
-
Apply the Lean Startup principles to your own business idea.
Customer Interviews
Show steps
Practice conducting customer interviews to validate your business idea.
Browse courses on
Customer Development
Show steps
-
Develop a list of potential customers to interview.
-
Create a set of interview questions that will help you to understand your customers' needs and wants.
-
Conduct the interviews and take detailed notes.
-
Analyze the data from your interviews to identify patterns and insights.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Business Model Canvas
Show steps
Create a Business Model Canvas to visualize and refine your business idea.
Browse courses on
Business Model Design
Show steps
-
Identify the key components of your business model, such as your value proposition, target market, and revenue streams.
-
Fill out the Business Model Canvas with your information.
-
Use the Business Model Canvas to identify areas where you need to refine your business idea.
Elevator Pitch
Show steps
Develop an elevator pitch to effectively communicate your business idea to potential investors or customers.
Browse courses on
Pitching
Show steps
-
Define your value proposition and target audience.
-
Craft a concise and engaging pitch that highlights your key selling points.
-
Practice your pitch until you can deliver it confidently and persuasively.
Financial Projections
Show steps
Learn how to prepare financial projections for your business.
Browse courses on
Financial Planning
Show steps
-
Find online tutorials or courses on financial projections.
-
Gather data on your business, such as sales, expenses, and marketing costs.
-
Use financial projection templates or software to create your projections.
-
Review and revise your projections regularly as your business grows.
Mentor an Aspiring Entrepreneur
Show steps
Share your knowledge and experience with aspiring entrepreneurs to help them succeed.
Browse courses on
Mentorship
Show steps
-
Identify an aspiring entrepreneur who could benefit from your guidance.
-
Set up regular meetings to provide support and advice.
-
Share your knowledge and experience on topics such as business planning, marketing, and finance.
-
Provide feedback and encouragement to help the entrepreneur overcome challenges.
Brainstorm an entrepreneurial idea
Show steps
Come up with as many business ideas as possible to prepare for the course.
Browse courses on
Brainstorming
Show steps
Show steps
Show steps
- Identify a problem or opportunity in your own life or the lives of others.
- Generate as many solutions as possible, no matter how crazy or unrealistic they may seem.
- Evaluate the potential of each solution based on its feasibility, marketability, and profitability.
- Select the most promising solution and develop a brief business plan.
Reading: The Lean Startup
Show steps
This book provides a solid foundation for understanding the Lean Startup approach.
View
The Startup Way: How Modern Companies Use...
on Amazon
Show steps
Show steps
Show steps
- Read the book and take notes on the key concepts.
- Identify the main takeaways from the book.
- Apply the Lean Startup principles to your own business idea.
Customer Interviews
Show steps
Practice conducting customer interviews to validate your business idea.
Browse courses on
Customer Development
Show steps
Show steps
Show steps
- Develop a list of potential customers to interview.
- Create a set of interview questions that will help you to understand your customers' needs and wants.
- Conduct the interviews and take detailed notes.
- Analyze the data from your interviews to identify patterns and insights.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Business Model Canvas
Show steps
Create a Business Model Canvas to visualize and refine your business idea.
Browse courses on
Business Model Design
Show steps
Show steps
Show steps
- Identify the key components of your business model, such as your value proposition, target market, and revenue streams.
- Fill out the Business Model Canvas with your information.
- Use the Business Model Canvas to identify areas where you need to refine your business idea.
Elevator Pitch
Show steps
Develop an elevator pitch to effectively communicate your business idea to potential investors or customers.
Browse courses on
Pitching
Show steps
Show steps
Show steps
- Define your value proposition and target audience.
- Craft a concise and engaging pitch that highlights your key selling points.
- Practice your pitch until you can deliver it confidently and persuasively.
Financial Projections
Show steps
Learn how to prepare financial projections for your business.
Browse courses on
Financial Planning
Show steps
Show steps
Show steps
- Find online tutorials or courses on financial projections.
- Gather data on your business, such as sales, expenses, and marketing costs.
- Use financial projection templates or software to create your projections.
- Review and revise your projections regularly as your business grows.
Mentor an Aspiring Entrepreneur
Show steps
Share your knowledge and experience with aspiring entrepreneurs to help them succeed.
Browse courses on
Mentorship
Show steps
Show steps
Show steps
- Identify an aspiring entrepreneur who could benefit from your guidance.
- Set up regular meetings to provide support and advice.
- Share your knowledge and experience on topics such as business planning, marketing, and finance.
- Provide feedback and encouragement to help the entrepreneur overcome challenges.
Career center
Learners who complete How to Validate your Startup Idea will develop knowledge and skills
that may be useful to these careers:
Marketing Manager
Marketing Manager
Marketing Managers work closely with teams to develop and implement marketing strategies. As a Marketing Manager, you'll need to understand how to develop strategies that attract, satisfy, and retain customers. This course's emphasis on validating business ideas can help you understand how to develop products and promotions that potential customers will desire.
Business Analyst
Business Analyst
Business Analysts help with the ideation and optimization of new products, services, and processes. As a Business Analyst, you will need to understand the customer and market you wish to reach. This course will help you understand how to research and validate your idea, which will help you create products and services that are guaranteed to reach your target market.
Management Consultant
Management Consultant
Management Consultants need to understand what a client's needs are. They work in a variety of sectors to build a range of products or services. As a Management Consultant, you'll need to understand who your client is and what they are looking for in a product. This course will help you learn how to interview potential clients and understand what they're looking for.
Product Manager
Product Manager
Product Managers are responsible for the development and management of products. As a Product Manager, you'll need to understand the market and customer for your product. This course will walk you through the process of validating your business idea, which will provide you the insight you need for your role as a Product Manager.
Entrepreneur
Entrepreneur
Entrepreneurs launch new businesses by identifying and exploiting opportunities. As an Entrepreneur, you'll need to validate the viability of your business idea before launch. This course will give you all the tools you need to see your product from brainstorm, through validation, and into the hands of a delighted customer.
Marketing Research Analyst
Marketing Research Analyst
Marketing Research Analysts collect and analyze data about customers. This will help you understand the size and characteristics of markets and understand the most effective way to reach potential customers. This course will help you gain the confidence necessary to conduct thorough research and communicate your research findings to various stakeholders.
Financial Analyst
Financial Analyst
Financial Analysts analyze and predict the market in order to make sound investment decisions. As a Financial Analyst, you'll need to understand how to value companies and their products or services. This course can help you build a foundation in the basics of financial literacy, which can help you make more informed investment decisions.
Business Development Manager
Business Development Manager
Business Development Managers are charged with the task of developing new business. As a Business Development Manager, you'll need to identify and qualify potential customers. This course will help you become more comfortable pitching your business idea, which can help you attract new clients and investors.
Sales Manager
Sales Manager
Sales Managers lead and manage sales teams to meet business goals. As a Sales Manager, you'll need to create sales pitches that seal the deal. This course will help you develop a sales pitch for your business idea, giving you the tools you need to lead a successful sales team.
Operations Manager
Operations Manager
Operations Managers oversee the day-to-day operations of a business, which includes planning, coordinating, and supervising. As an Operations Manager, you'll need to understand the company's goals and how each department works together to achieve them. This course will help you understand how to create a business plan and evaluate its potential for success.
Account Manager
Account Manager
Account Managers build and maintain relationships with clients to drive business growth. As an Account Manager, you'll need to understand the needs of your clients, identify opportunities to collaborate, and effectively communicate the value of your products or services. This course will help you build a skillset that will serve you well as you work to maintain relationships with existing clients and build relationships with new clients.
Project Manager
Project Manager
Project Managers oversee projects from start to finish. As a Project Manager, you will need to be able to plan, organize, and manage resources to successfully achieve project goals. This course may help you by walking you through the process of validating business ideas, which can help you plan a successful project.
Customer Success Manager
Customer Success Manager
Customer Success Managers are responsible for ensuring that customers are happy and successful with their products or services. As a Customer Success Manager, you'll need to understand the customer's needs and how to help them achieve their goals. This course will help you identify and communicate good opportunities, which can lead to increased customer satisfaction and success.
Data Analyst
Data Analyst
Data Analysts collect, clean, and analyze data to help businesses make informed decisions. As a Data Analyst, you'll need to understand the business and its goals in order to analyze data and identify trends. This course will help you develop financial literacy and learn how to build financial models, which will help you make more informed decisions at work.
Investment Banker
Investment Banker
Investment Bankers help clients raise capital and advise them on mergers and acquisitions. As an Investment Banker, you'll need to understand how to value companies and their products or services. This course will walk you through the process of validating business ideas, which can help you make more informed decisions.
For more career information including salaries, visit:
OpenCourser.com/course/kbg5f3/how
Reading list
We've selected 26 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
How to Validate your Startup Idea.
Provides a structured approach to validating your business idea and building a successful startup. It introduces the concept of the Lean Canvas, which tool for testing your business idea and identifying potential risks.
Provides a step-by-step guide to customer development, a process for understanding your customers and their needs. It includes tools and templates for conducting customer interviews and gathering data.
Introduces the concept of lean startup methodology, which emphasizes building a minimum viable product (MVP) and iteratively testing it with customers to validate the business idea.
Provides a practical framework for developing and validating business models. It helps entrepreneurs articulate their value proposition, identify target customers, and map out their business processes.
Provides a hands-on guide to customer development, a process for systematically testing and validating your business idea with real customers.
Provides a comprehensive guide to starting and running a successful startup, covering everything from customer development to fundraising.
Save
Provides a step-by-step guide to acquiring customers and building momentum for your startup.
Examines the challenges faced by startups when transitioning from early adopters to mainstream customers.
Save
Provides a practical guide to using analytics to measure the progress of your startup and make informed decisions.
Save
Offers practical advice and insights on how to launch and grow a successful startup.
Explores the challenges and decisions faced by founders as their startups grow and mature.
Provides a comprehensive overview of venture capital for entrepreneurs, including how to find investors and negotiate a term sheet.
Provides a step-by-step guide to building and launching a successful product. It includes tools and templates for validating your product idea, designing your product, and marketing your product.
Provides a comprehensive guide to starting and running a successful startup. It valuable resource for entrepreneurs who are looking for practical advice and insights.
Save
Provides a framework for getting your first customers and building a sustainable business. It includes case studies and examples from successful startups.
Save
Provides a comprehensive guide to the legal and financial aspects of venture capital deals. It valuable resource for entrepreneurs who are looking to raise funding for their startups.
Explains why large companies often fail to innovate and how startups can succeed by disrupting their markets.
Save
Provides a framework for developing a good strategy. It explains the difference between good and bad strategies and how to avoid common pitfalls.
Save
Business novel that follows a team of IT professionals as they work to save their company from a major disaster. It provides valuable insights into the challenges of managing complex IT systems.
Provides timeless advice on how to be an effective executive. It covers topics such as time management, decision-making, and communication.
Provides a framework for personal and professional success. It covers topics such as self-improvement, goal setting, and interpersonal relationships.
Provides practical advice on how to launch a successful startup. It covers topics such as marketing, sales, and fundraising.
Save
Provides a step-by-step guide to starting a business with very little money. It includes case studies and examples of successful startups.
Save
Provides a guide to the legal and financial aspects of venture capital. It covers topics such as term sheets, due diligence, and exits.
Provides a brutally honest account of the challenges of running a startup. It covers topics such as hiring, firing, and dealing with failure.
Provides an unconventional perspective on entrepreneurship. It argues that the best businesses are built on unique ideas that cannot be easily copied.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/kbg5f3/how
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Effort
6 weeks of study, 2-4 hours/week
Via
Coursera
Institution
UNSW Sydney (The University of New South Wales)
Instructors
Allya Koesoema
Martin Bliemel
Language
English
Transcripts
Español
Français
Português
Deutsch
Italiano
中文
العربية
한국어
日本語
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آذربایجان دیلی
Good to know
Helps entrepreneurs and pre-entrepreneurs validate their ideas through real world feedback
Provides guidance through the iterative process of launching a company
Taught by instructors who have real world experience in entrepreneurship
Requires active learning, such as interacting with potential customers and conducting market research
Assumes you have some existing experience with entrepreneurship
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