Coursera - Developing Innovative Ideas for New Companies: The First Step in Entrepreneurship

Explore how to identify and develop great ideas into great companies. Learn how to identify opportunities based on real customer needs. Develop solid business models. Create successful companies.

This course assists aspiring entrepreneurs in developing great ideas into great companies. With strong economies presenting rich opportunities for new venture creation, and challenging economic times presenting the necessity for many to make their own job, the need to develop the skills to develop and act on innovative business opportunities is ever present.

Using proven content, methods, and models for new venture opportunity assessment and analysis, students will learn how to enhance their entrepreneurial mindset and develop their functional skill sets to see and act entrepreneurially. The initial steps to creating a business plan, and raising financial capital to launch the firm, are examined as well. Our goal is to demystify the startup process, and to help you build the skills to identify and act on innovative opportunities now, and in the future.
Course Syllabus

Week One: Entrepreneurial Perspective
- Welcome
- Course overview
- What is entrepreneurship?
- Who is an entrepreneur?
- Entrepreneurship, creativity, and innovation
- The world's most innovative companies
- Types of innovations
- Entrepreneurs and strategic decisions
- The opportunity analysis canvas

Week Two: Entrepreneurial Mindset, Motivations and Behavoirs
- Entrepreneurial mindset
- Entrepreneurial motivations
- Entrepreneurial behavoirs
- Risk taking in entrepreneurial decision-making
- Risk, uncertainty, and stakeholder involvement

Week Three: Industry Understanding
- Knowledge conditions
- Demand conditions
- Industry lifecycle
- Industry structure
- Competitive advantage
- Learning curve
- Complementary assets
- Reputation effects

Week Four: Customer Understanding
Macro changes that increase new venture opportunities
Exploring real market needs
Satisfying real market needs
Strategic positioning
Strategic planning

Week Five: Business Modeling
- Value innovation
- Opportunity identification
- Introduction to business models
- The business model canvas
- Partnerships
- Outsourcing

Week Six: Business Planning
- Defining the business plan
- Authoring the business plan
- Sales forecasting
- Managing the sales pipeline
- Developing the marketing mix
- Pricing
- Building financial statements
- Sources of financial capital
- Final thoughts

Recommended Background
This introductory course is designed for those interested in learning about innovative idea generation and new venture creation, and does not require a background in business or any specific area. A desire to build your knowledge and capabilities are the only requirements for entry.

Suggested Readings
Recommended readings are detailed within the course syllabus.

Course Format
The class will consist of a series of video lectures each week. An end of week assignment is available each week to apply and reinforce learnings from the week.