Creating Innovative Business Models from edX

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

It’s common to desire...

Innovative approaches and tools to help create a startup company or corporate venture
Intelligence on what customers really want, and are willing to pay for
Insights on the big picture of crafting a startup company, and how the puzzle pieces fit together

This course will help you to...

Understand the theory and practice of value creation
Determine how to build the right team for your startup company or corporate venture
Avoid wasting time with startup ideas with limited commercial potential
Raise the right financial capital at the right time for the right purpose By the end of this course, you will be positioned to...
Effectively design value propositions that directly align with your target customers’ interests
Assemble and lead an well-comprised team to produce results that create value for your customers
Pursue big ideas that really matter to customers
Craft a financial model that minimizes risks and maximizing your success

What you'll learn

The course provides an innovative model to create the value proposition, team strategy, market strategy, and financial strategy to:

Effectively design value propositions that directly align with your target customers’ interests;
Assemble and lead an well-comprised team to produce results that create value for your customers;
Pursue big ideas that really matter to customers; and
Craft a financial model that minimizes risks and maximizing your success.

With these skills, you will be equipped to lead customer discovery and customer validation, understand business strategy and customer segmentation, create innovative products, enter new markets, design revenue models with predictable revenue stream, and achieve a sustainable competitive advantage.

What's inside

Learning objectives

Effectively design value propositions that directly align with your target customers’ interests;
Assemble and lead an well-comprised team to produce results that create value for your customers;

Pursue big ideas that really matter to customers; and
Craft a financial model that minimizes risks and maximizing your success.

Effectively design value propositions that directly align with your target customers’ interests;
Assemble and lead an well-comprised team to produce results that create value for your customers;
Pursue big ideas that really matter to customers; and
Craft a financial model that minimizes risks and maximizing your success.

Syllabus

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.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Designed for aspiring and active business leaders, including startup founders, corporate innovators, and entrepreneurs, who have a desire to develop innovative approaches to creating and growing value-generating businesses

Provides a structured framework and practical tools to help learners understand the theory and practice of value creation, build effective teams, avoid wasting time on ideas with limited commercial potential and raise financial capital effectively

Taught by instructors with extensive experience in entrepreneurship and corporate innovation, James Green

Covers essential topics such as developing a value proposition that aligns with customer needs, building and leading a high-performing team, creating a market strategy that reaches the right audience, and crafting a financial model that minimizes risks and maximizes growth

Emphasizes the importance of customer validation, understanding competition, and achieving product-market fit

Provides guidance on identifying and engaging founding teams, establishing advisor relationships, leveraging partnerships, and outsourcing to improve success

Reviews summary

Well-received course for business model innovation

According to students, "Creating Innovative Business Models" is a highly positive course that is well-received for its knowledgeable instructor, practical and applicable content, comprehensive coverage, and motivating and inspiring nature. Overwhelmingly, learners say this course is an excellent resource for entrepreneurs and startups.

Learners find the course to be inspiring and motivating, empowering them to start or grow their businesses.

"For what sounds like a vey daunting course, Dr Green takes the learner seamlessly through the various phases and learning curve of a startup."

"This was something I was searching to learn."

"The world needs innovation."

"I was interested to know how to innovate business models."

"This course will help me in taking first steps towards this ."

"I hope to use this in practical life."

"The course was very informative and well explained."

The course is well-structured and covers a wide range of topics related to business model innovation.

"This course is very well taught and in the most simple way."

"also, it's extensive enough to give a whole perspective of how, when, and why you should start a business and what are the ways."

"There is a well-defined framework that breakdowns into simpler modules and are highly understandable."

"Very comprehensive with very detailed approach by the professor."

"Appreciate hugely the discussions on value proposition, product market fit, the start-up analysis canvas, market strategy, the four financial strategy models with side discussion on the sales process and sales tools."

Learners appreciate the practical nature of the course and the real-world examples provided.

"Practical and insightful course."

"This course gives great insights into business models and how to start a company. You have a full checklist of things to do to develop your idea and commercialize it."

"This was a really good course. I loved how it was focused more on the different options a startup can pursue and not saying this is what you have to do or else you will fail"

"The brief but well explained format of this course makes me love it.It comes with all the necessary notes required for one to start from the early stages of idea generation(value proposition) up to the funding strategy."

"Creating Innovative Business Models is an excellent course and a must learning for all who are planning a startup."

Learners highly praise the instructor for their expertise and clear delivery.

"The instructor is great. I liked that the course included step-by-step modules."

"The course is very well taught and the instructor has a solid base of knowledge and experience on the topic."

"In fact, you will probably learn more in this course than in some MBAs."

"Amazing course , very informative, includes all the key points you need to know to startup a business , with helpful examples The instructor is very nice to hear , his voice is very clear and understandable for those who doesn't speak English as their mother language"

"Excellent course. Relevant content, very didactic instructor, and perfect balance between academic theory and practical examples."

Overwhelmingly, learners say this course is an excellent resource for entrepreneurs and startups.

"Great course and excellently delivered."

"This course guided me the routes to cover to successfully launch and break even with my Venture."

"Overall this course is so help me to understand innovative business model and how to start our own start up."

"The course is very well taught and the instructor has a solid base of knowledge and experience on the topic."

"Great course! I like the practical approach and the examples given in each module."

"hello please accept my greetings for my humble abode i would give more than 5 star the teaching of the course they are so detailed i learned a lot not for the certificate but the learning in his courses thank you"

"The instructor is great. I liked that the course included step-by-step modules."

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 Creating Innovative Business Models with these activities:

Practice Research Skills

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Refine research approach to topics covered in the syllabus to improve the quality of assignments.

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Read research papers and articles on the selected topics.
Summarize the methods, results, and conclusions of the research papers.
Identify the strengths and weaknesses of the research methods used in the papers.
Develop a research plan for a hypothetical project on the selected topics.

Develop a Project Plan

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Create a comprehensive plan to guide your startup or corporate venture's development.

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Define the project's goals, objectives, and scope.
Identify the project's stakeholders and their needs.
Develop a timeline for the project's completion.
Identify the resources needed to complete the project.
Develop a communication plan for the project.

Host a Discussion Group

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Lead a discussion group to explore key concepts and exchange ideas with peers, strengthening understanding and fostering a sense of community.

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Choose a topic related to the course content.
Develop a discussion plan with guiding questions and activities.
Invite peers to participate in the discussion group.
Moderate the discussion, ensuring active participation and respectful exchange of ideas.
Summarize the key points and takeaways from the discussion.

Four other activities

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Solve Business Case Studies

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Develop critical thinking and problem-solving skills by analyzing real-world business scenarios.

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Read and analyze the case study.
Identify the key issues and challenges in the case study.
Develop potential solutions to the problems identified.
Evaluate the potential solutions and select the best course of action.
Write a report summarizing your analysis and recommendations.

Attend a Startup Pitch Competition

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Experience the dynamics of startup presentations and gain insights into effective pitching techniques.

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Research upcoming startup pitch competitions.
Register to attend a competition.
Attend the competition and listen to the pitches.
Take notes on the effective and ineffective elements of the pitches.
Reflect on the experience and identify areas for improvement in your own pitching skills.

Review Venture Capital and Investment Strategies

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Refresh knowledge on funding models and best practices to enhance understanding of financial strategies for startups.

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Read articles and watch videos on venture capital and investment strategies.
Review case studies of successful startup funding rounds.
Attend a webinar or workshop on venture capital and investment.
Develop a mock pitch deck for a hypothetical startup.

Mentor Emerging Entrepreneurs

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Consolidate your knowledge by mentoring aspiring entrepreneurs, providing guidance and support while expanding your professional network.

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Identify organizations or platforms that connect mentors with entrepreneurs.
Create a profile and express your interest in mentoring.
Match with mentees and provide guidance on business strategy, operations, and fundraising.
Build relationships with mentees and offer ongoing support.
Reflect on your mentoring experiences and identify areas for improvement.

Career center

Learners who complete Creating Innovative Business Models will develop knowledge and skills that may be useful to these careers:

Startup Founder

Startup founders are individuals who start their own companies. This course may be useful for startup founders who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

See salaries and explore the career path for Startup Founder

Venture Capitalist

Venture capitalists invest in early-stage companies. This course may be useful for venture capitalists who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

See salaries and explore the career path for Venture Capitalist

Entrepreneur

Entrepreneurs are individuals who start their own businesses. This course may be useful for entrepreneurs who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

See salaries and explore the career path for Entrepreneur

Product Manager

Product managers are responsible for developing and launching new products. This course may be useful for product managers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

See salaries and explore the career path for Product Manager

Management Consultant

Management consultants help companies improve their performance. This course may be useful for management consultants who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Professor

Professors teach and conduct research at colleges and universities. This course may be useful for professors who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Marketing Manager

Marketing managers are responsible for developing and executing marketing campaigns. This course may be useful for marketing managers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Sales Manager

Sales managers are responsible for leading and motivating sales teams. This course may be useful for sales managers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Business Development Manager

Business development managers are responsible for identifying and developing new business opportunities. This course may be useful for business development managers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Strategy Consultant

Strategy consultants help companies develop and implement their strategies. This course may be useful for strategy consultants who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Software Engineer

Software engineers design, develop, and test computer software. This course may be useful for software engineers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Business Analyst

Business analysts use their knowledge of business processes to help companies improve their operations. This course may be useful for business analysts who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Market Researcher

Market researchers help companies understand their customers. This course may be useful for market researchers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Investment Banker

Investment bankers help companies raise capital. This course may be useful for investment bankers who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

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Financial Analyst

Financial analysts use their knowledge of finance to help companies make investment decisions. This course may be useful for financial analysts who want to learn more about how to create innovative business models. The course will help you understand the theory and practice of value creation, determine how to build the right team for your startup company or corporate venture, avoid wasting time with startup ideas with limited commercial potential, and raise the right financial capital at the right time for the right purpose.

See salaries and explore the career path for Financial Analyst