Test Your Business Idea
4.4 (9 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
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Test Your Business Idea

Actionable methods for finding your first customers
4.4 (9 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
151 students enrolled
Last updated 7/2015
English
Current price: $10 Original price: $35 Discount: 71% off
1 day left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • 1 Article
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • By the end of this course you will be able to model and test your business hypothesis
  • You will practice how to conduct customer interview to develop the market side of your product
  • You will reduce risks and increase confidence on your business idea
View Curriculum
Requirements
  • Your willingness to step out of your comfort zone and act.
Description

Finally! An online course to test your business idea.

✔ Increase your clarity and confidence in yourself and your business

✔ Reduce your upfront investment of time and money

✔ Learn the process for building a successful product

Stop dreaming and start working on your great business idea!

Save Time and Money: Learn the methods to validate if your solution fits a real customer problem BEFORE you build anything.

Increase your confidence: Test your solution in front of real potential customers to understand their needs better.

Fill the knowledge gap: Learn the proven concepts and behaviors of successful startup teams.

On demand and repeatable: Learn and practice the methods at your own pace with 24-7 lifetime access.

Make learning fun: Delivered in the language of entrepreneurs, by an entrepreneur with stories, animations and examples.

Practical workbook: Includes a downloadable resource and exercise book to compliment the video tutorials.

Who is the target audience?
  • Entrepreneurs and Business Innovators
  • Startup founders and entrepreneurship students
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Curriculum For This Course
Expand All 29 Lectures Collapse All 29 Lectures 01:08:54
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Introduction
3 Lectures 04:26

We introduce the concept of Problem - Solution Fit and explain the two common but costly mistakes startups make.

Preview 01:30

We use the metaphor of learning to ride a bike to understand it's about taking action to learn by doing. We embrace "failure" with the metaphor of falling off your bike. Students will understand that a " failure" can be designed in a way so you can learn the most and cost you the least - just like training wheels help you learn without falling off a bike.

Preview 01:30

We explain how we break down the course into three components 1) How to Be - the mindset,2) What to Know - the concepts and 3) What To Do - the methods. We introduce the one page "Problem Solution Fit Worksheet" students will use throughout the course. We also introduce the "cheat sheet" example we provide.

Preview 01:26
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How to Be: The Entrepreneurial Mindset
7 Lectures 12:46

We ask you to be open to consider new perspectives. We ask students to consider stepping out of their comfort a little bit to obtain personal growth. Students will realize business growth happens directly with personal growth.

Preview 01:13

Students are provided an example of a business assumption for a business idea back when everyone thought for sure the world was flat. The point of the example is to appreciate what we might think is true about our business idea is only an assumption that is yet to be validated or unvalidated.

Preview 01:20

Students will gain an understanding of how our minds can subconsciously bias our view of reality. We explain why our mind does this and suggest it is much easier to observe it happening in other people than ourselves.

Preview 02:33

We share a great story from a Zen master to explain how to make room for new learning and discovery.

Preview 01:12

Students will realize they were all great listeners when they were young children. We stress the importance of good listening skills to get the most out the business idea tests they will be running.

Listen like a 3 years old
01:26

We introduce how being vulnerable is a strength when you are a startup founder. Students will gain an appreciation of the benefits of exposing their idea to potential customers early as opposed to the comfort of keeping it protected in their mind as long as possible. Students will be able to decide for themselves how courageous that want to be.

Vulnerability – Why should you expose your ideas to potential customers?
02:05

Students will learn the importance of building a startup team with diverse skills. We provide a worksheet to assess the current skills and identify the skills gaps.

Build a diversified team
02:57
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What to Know: The Concepts
10 Lectures 19:57

We use a great visual diagram called the "design squiggle" to show the high level of uncertainty and risk starting with a new business idea. Students will understand why testing assumptions is necessary to reduce uncertainty and risk.

The path to a viable business
01:28

We provide a definition of a business model and give examples of two different business models.

What is a business model
01:32

We introduce the Business Model Canvas(BMC) and explore the benefits of using it compared to a business plan. We introduce the Lean Startup methodology. Students will appreciate the need to eventually build a complete business model, but then learn to focus first on only two of the nine components of the BMC - Customer Segments and Value Proposition.

From business plan to business model canvas
01:50

The business model canvas
02:22

Students learn the definition of customer segments and why they are important. We use a fishing metaphor to help students understand why a business startup should focus on specific customer segments.

What are customer segments?
02:33

We introduce the concept of an "early adopter" and why these particular customers are so valuable to a startup.

Focus on the “early adopter” type of customer
02:21

We define what a value proposition is and explain the importance of differentiation.

What is value proposition?
02:06

We introduce the concept of features and benefits. Students will learn that customer care more about the benefits than the features.

What are features and benefits?
01:01

Students get to start work documenting their initial assumptions on their Problem Solution Fit Worksheet. We take them step by step through the Handy Band example to show them how to get started.

Define your initial assumptions
02:52

We review the initial assumptions from the previous lecture and revise them. The revisions are for common mistakes students often make in their first attempt to document their assumptions.

Revise your initial assumptions
01:52
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What to Do: Practical Methods to Test Your Idea
4 Lectures 11:10

Students will learn how to conduct their first test experiment - the Problem Interview. We show how to apply the Lean Startup concept of the "Build, Measure, Learn" loop to conducting these experiments.

Validating your business idea assumptions
02:42

We provide the students with the definition of a pivot. Students will also learn both the right and wrong steps that lead up to a decision to make a pivot.

What is a Pivot?
02:28

Students will learn there is a difference between an invention and an innovation. Students learn the two types of insights that could get from their interactions with customers. The first insight is the validation or invalidation of the assumption being tested. The second type of insights are the unexpected surprise insights.

Creating Innovation From Customers Insights
02:07

By taking a light hearted look at common mistakes we have come to expect, we help students recognize them when they make them themselves.

Common Mistakes
03:53
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What to Do: The Problem Interview
1 Lecture 08:06

This lecture provide a checklist, blank worksheets and completed worksheets for our example. We take the student through the problem interview experiment step by step. Students will be able to follow the example and then use the blank worksheets provided to conduct their own problem interviews.

The step by step method for conducting problem interviews
08:06
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What to Do: The Solution Interview
2 Lectures 08:46

We introduce two additional concepts students will need to understand before completing their next set of experiments - the solution interviews. We provide a definition of MVP's and examples in an additional resource. Students will use the elevator pitch tool to gain clarity.

MVP and elevator pitch
05:03

We provide a checklist, blank worksheets and completed example worksheets for conducting solution interviews. We take the students step by step through our example to make it easy to then go out and conduct their own solution interviews.

The step by step method for conducting solution interview
03:43
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What Is Next
2 Lectures 03:41

We summarize what we accomplished during this course. We introduced the mindset, concepts and methods for the first stage of a startup - Problem Solution Fit. With the increased confidence, reduced risks and reduced uncertainty, students are now ready to consider moving into the next stage - Product Market Fit.

Conclusion
01:59

We thank the many thought leaders and contributors to our own development in order for us to share their knowledge with our students.

Acknowledgements
01:42
About the Instructor
Paul D. Foster
4.5 Average rating
11 Reviews
788 Students
2 Courses
CPA, CA and Small Business Advisor

Paul Foster is the founder and leader of the team at The Business Therapist®. His business experience began as a trusted advisor (CPA, CA) to small business families as the owner and founder of an accounting firm which he sold after 20 years.

In 2010, Paul was recognized by his business advising peers as the RANONE North American Advisor of the Year.

In 2011, Paul went ‘back to school’ himself as the Entrepreneur in Residence and then as the Lean Startup Advisor, both positions at the Odette School of Business at University of Windsor. Throw in a trip to Stanford for Steve Blank’s Lean Launchpad program in June of 2013 and some painful lessons as a startup founder himself, Paul is a seasoned veteran of the business development world.

Whether you are starting, growing or selling your business, Paul has the knowledge and relevant real life stories ready to share with you.

Rafael Giacomassi
4.4 Average rating
9 Reviews
151 Students
1 Course
Engineer and Business Coach

Rafael is an entrepreneur and a mechanical engineer who graduated from the University of São Paulo, Brazil. He joined Paul at The Business Therapist in 2014 when he participated in a sixteen-month exchange program at the University of Windsor. As a student, he has developed a diversified background by taking classes and developing research in Business and Management, in addition to his Engineering Major.

An entrepreneur from an early age, Rafael has participated in many startup projects, and has studied several business around the world. Rafael has lived in Brazil, the United States, and Canada and has traveled to many different countries over the past few years. Rafael is now a full-time coach and advisor to business clients in Brazil and Canada.