- Develop a thorough and rigorous methodology for assessing and writing business plans
- Articulate, hone, and refine the idea statement for a new business
- Conduct thorough research and data gathering. All aspects of the new venture concept will be researched using publicly available and subscription databases
- Build a deep understanding of customers, sales and marketing techniques for the new business. You will be exposed to the classic “3C and 4P” analysis of marketing and understand such models and tools as perceptual maps, and market sizing techniques
- Learn a methodology for designing, testing, and bringing new products to market
- Learn how to construct surveys, interviews, and focus groups; you will learn quantitative methods for evaluating the data. Finally, you will conduct these activities during the program for your own new product
- Design a comprehensive sales and marketing program including market segmentation,messaging, scripts, sales force plan, social networking and search engine optimization campaigns
- Conduct rigorous research on competition including a thorough “Porter 5 Forces” analysis. Read relevant articles and cases on competitive strategy
- Explore the myths and realities of the "first mover advantage.” Design an execution plan related to the timing and speed of the new venture
- Develop a comprehensive risk and uncertainty checklist design to provide a deep understanding of the project’s risks and ways to mitigate against the risks
- Assess the new venture’s team requirements, create an organization chart and develop a plan for hiring and/or recruiting team members
- Build a detailed financial model to understand the investment requirements and whether the project is a “positive net present value” opportunity.
- Assess viable exit strategy options
- Understand important themes in the behavioral science literature such as causation, framing, metadecisions, boundaries, reference points, metaphors, judgment overconfidence, seeking disconfirming evidence, etc.
- Learn cutting-edge techniques for networking, negotiations, and relationship building
- Learn how to present your business plan to a group of investors
- Understand the roles and structure of venture capital firms and their criteria for funding businesses. Also learn about more traditional methods to secure funding for a new business. Understand how to create, and analyze, financial projections and financial statements.
- Analyze and evaluate cases and lessons from failed startup ventures. Learn from their mistakes.
- Reading important articles and develop a system for time and energy management, including the Attention Zone Model, techniques for deepening concentration/eliminating multi-tasking, and tactics to “free up” 9-18 hours extra time each week
- Developing a deliberate practice and a mastery orientation towards your new entrepreneurial endeavor
- Relationship management and a deep understanding of the “drama triangle.”
- “Gamefilming” and journaling techniques including mental replay, reflection, performance, journaling, contemplation and mindfulness
- Optionally, techniques to promote health, wellness and fitness are incorporated into the program
To summarize, participants can expect the following outcomes from the program:
Context: the strategic issues and challenges involved in creating and managing new ventures (independently, and within larger organizations)
Concepts: conceptual frameworks and analytical tools for addressing these issues and challenges
Cognition: rigorous research on the venture’s micro-topics, as well as improved "big picture" understanding of events, trends, and drivers in the economy
Collaboration: with team members, mentors, prospective customers, and even competitors