About this course: This course is the last course in this specialization before its capstone experience where you, the learner will launch your business. Consider all the activities associated with the final preparation for a NASA launch before the final countdown takes place. Those are the type of activities with respect to launching a business that will be covered in this course. The goal of the course is for you to have a document that details all the actions you need to take, and all the things that you need to think about before launching your business, with instructions on how to do those actions and how to thing about those things. Specifically the course will provide you with five benefits or outcomes. First your attitude will be finely focused and tuned to the mindset concepts covered in course one that are likely to have the greatest impact on your business launch. Second in a similar fashion you will become keenly aware of those aspects of your business that directly impact its ability to create and deliver value on day one; and have actions plans to address each aspect. With your 'mind right' and your 'business right' the third and fourth outcomes of the course are actions plans to get your 'market connections' right. The course will allow you to explore strategies and tactics to engage the market, communication your message, and generate sales; and select those which give you the best opportunity to learn and establish a foundation for growth. Finally the course will walk you through a final checklist of operational issues that will allow you to enter the capstone course and your business launch ready to go on day one. Throughout the course we have emphasized the importance of market engagement, allowing the market to provide feedback that sharpens your business and maximizes its chances for success. As with the entire specialization the feedback you will get through the peer review assignments for this course and the capstone course are an invaluable opportunity for for such engagement.
Created by: Michigan State University
Taught by: Ken Szymusiak, Managing Director, Burgess Institute for Entrepreneurship & Innovation
Broad College of Business
Taught by: Forrest S. Carter, Associate Professor, Faculty Director of Institute of Entrepreneurship and Innovation
Marketing
| Basic Info | Course 5 of 6 in the How to Start Your Own Business Specialization |
| Commitment | 7 weeks of study, 2-4 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
Syllabus
WEEK 1
Gearing Up Mindset: Strategy Focus
This module initiates a series of steps to prepare you for actually starting your business in the capstone experience of this course. The first step is to ready your mindset. To prepare yourself to take on a specific state of mind which will orientate your business startup activities in a way that will maximize its chances for success. We suggest this preparation take place in two parts: a focus on strategy, and a focus on resources. This module guides your focus on strategy. At the end of this module you will have a formalized and finalized vision, mission, objectives and goals, and a detailed documentation of these factors in a strategy statement.
5 videos, 9 readings
- Video: Command Center
- Reading: Five Steps to a Strategic Plan
- Video: Revisiting Strategy
- Reading: What is a Vision Statement?
- Reading: Sample Vision Statements
- Video: Directing Vision
- Reading: Review What Is Strategy?
- Reading: Invest in Your Success
- Reading: Why Small Businesses Should Scrap Strategic Planning
- Reading: What is a Mission Statement?
- Video: Mission Remarkable
- Reading: Understanding Goals
- Reading: Why are Goals and Objectives Important?
- Video: Gearing Up To Score
Graded: Understanding What It Will Take To Launch
Graded: Review of Key Strategy Concepts
Graded: Understanding a Strategy Statement
Graded: Business Startup Plan: The Strategy Statement
WEEK 2
Gearing Up Mindset: Resource Focus
This module continues the series of steps to prepare you for actually starting your business in the capstone experience of this course. Helping to complete the first step to ready your business for launch, 'to ready your mindset', this module guides your focus on resources. At the end of this module you will have formalized and finalized a resource inventory. This document details all resources at your immediate disposal or within your reach that can be dedicated towards your business.
5 videos, 4 readings
- Reading: Are Entrepreneurs Born or Made?
- Reading: Summary: The Myth of the Idea
- Video: It's Not Gambling, But There Are Risks
- Video: Effect Your Logic
- Reading: The Value of Social Capital in Starting a Business
- Reading: 4 Reasons Social Capital Trumps All
- Video: What's Your Stake - Part 2
- Video: What's Your Stake - Part 3
- Video: What's Your Stake - Part 4
Graded: Keys to Starting Upside Down
Graded: Capital Options
Graded: Resource Inventory
WEEK 3
Gearing Up Business: Funding Focus
This module continues the series of steps to prepare you for actually starting your business in the capstone experience of this course. This module is step two in that series. Having completed the first step, 'to ready your mindset', this module guides you in gearing up you business so that it is capable of creating and delivering value at launch. This required capability is threefold: finding funding to augment available resources; finalizing business model detailing execution strategy, and finalizing the operational tasks necessary to insure the business's product or service can actually be produced and delivered. This module deals with the first of these requirements. At the end of this module you will have a greater understanding of non-traditional funding sources to augment the traditional ones, putting you in the best position possible to find any additional funding you may need to launch your business.
3 videos, 9 readings
- Reading: 35 Great Ways to Fund A Small Business
- Reading: Find Financing, Even If You Don't Fit a 'Type'
- Video: Who Can Stake You - Part One?
- Reading: Startup Business Loans
- Reading: 5 Things You Should Know About Revenue-Based Financing
- Reading: The Basics of Crowdfunding
- Video: Who Can Stake You - Part Two?
- Reading: How to Finance a Business With Your 401K
- Reading: The Search Fund Model
- Reading: 10 Tips For Bootstrapping Your Startup
- Reading: Bootstrapping A Lean Startup
- Video: Who Can Stake You - Part Three
- Peer Review: Getting in with the In Crowd
Graded: Money Milestones
Graded: Who Can You Ask?
Graded: Which 'Boots' Fund Best?
WEEK 4
Gearing Up Business: Design Focus
This module continues step two of the five steps to prepare you for actually starting your business in the capstone experience of this course. Step two is gearing up business. The focus of step two is insuring that your business is capable of creating and delivering its product or service at launch. As stated earlier this required capability is threefold: finding funding to augment available resources; finalizing business model detailing execution strategy, and finalizing the operational tasks necessary to insure the business's product or service can actually be produced and delivered. This module focuses on the second of these requirements. At the end of this module you will have a a business model adjusted to fit available resources that will guide your actions in starting your business.
3 videos, 6 readings
- Reading: Business Models Business Strategy
- Reading: Reinventing Business Models Through Risk Management
- Reading: How to Identify Your Riskiest Business Model
- Video: What Game To Play?
- Reading: Blue Ocean Strategy: Creating Your Own Market
- Reading: Value Innovation - The Key to Blue Ocean Strategy
- Video: Designing For Breakthrough
- Reading: Four types of market (market maturity): Where does your startup’s product belong?
- Video: Type Cast Your Business
Graded: What Makes Your Business Model Work?
Graded: Knowing Your Market
WEEK 5
Gearing Up Business: Execution Funding
This module completes step two of the five steps to prepare you for actually starting your business in the capstone experience of this course. As discussed in modules three and four there are three areas that must be addressed to help insure that your business is capable and ready to create and deliver its product or service at launch. As stated earlier this required capability is threefold: finding funding to augment available resources; finalizing business model detailing execution strategy, This module focuses on the third and final of these requirements: finalizing the operational tasks necessary to insure the business's product or service can actually be produced and delivered. Finalizing these operational tasks not only provides a checklist for launch, but a budget for launch as well. At the end of this module you will have a production plan and accompanying budget along with a startup budget.
9 videos, 15 readings
- Reading: How to Create a Budget for Your Startup
- Video: Actions Speak Louder
- Reading: The Stederal Case
- Reading: Resource Budgeting Analysis Spreadsheets
- Video: Spreadsheet Tour - Part 1
- Video: Spreadsheet Tour - Part 2
- Video: Spreadsheet Tour - Part 3
- Video: Spreadsheet Tour - Part 4
- Reading: Top-Down-Forecasting for Pre-revenue Startups
- Reading: Buying Power Index by State
- Reading: Buying Power Index for Key Cities
- Reading: Bottom Up Forecasting for Pre-Revenue Startups
- Video: Show Yourself the Money
- Reading: What Makes A Good Production Plan
- Reading: Principal Factors in Successful Production Planning
- Reading: Retail Range Planning, Merchandise Planning and Assortment Planning
- Reading: Supply-Chain Mapping - The How To Guide
- Video: Where Truth Lives
- Reading: Cost of Goods Sold & Cost of Services
- Reading: How Do I Calculate the Direct - Cost of Sales for an Internet Startup
- Video: COGS of Success
- Reading: Ready to Start a Business? Here’s What It Will Cost
- Reading: Two Weeks to Startup-Day 3_ Calculating Startup Costs
- Video: Costs to Be The Boss
Graded: Navigating Market Potential
Graded: Operational Details
Graded: Counting the Costs
WEEK 6
Gearing Up For Market Creation & ABC Plan
This module addresses the third (Get Market Created) and fourth (Get 'ABC' Game Plan) steps of the process to prepare for your capstone experience and business launch. These two steps prepare the business to connect with individuals and organizations in its market, form and nurture relationships and create customers. There is a saying in sports that winning cures all ills. There are several reasons that lead to business failures, most if not all can be cured with enough customers. Peter Drucker, who many describe as the father of modern business consulting, is famously quoted as saying, “Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.” In essence a business is to create value, then create a customer. At the end of this model you will be able to develop a marketing plan and sales plan outlining the specific tools you will use to connect with and create customers.
10 videos, 14 readings
- Reading: Essence of Marketing
- Reading: A Case for Entrepreneurial Marketing
- Video: The Essence of Business Essentials
- Reading: Entrepreneurial Marketing for Your Business
- Reading: Use These 5 Steps to Create a Marketing Plan
- Video: Points of Distinction - Part 1
- Video: Points of Distinction - Part 2
- Reading: Getting to Grips with Content Marketing for Small Businesses
- Reading: Creating New Markets
- Video: It Takes A Village - Part 1
- Video: It Takes a Village - Part 2
- Reading: How to Create an Effective Marketing Plan
- Reading: A Simple Guide for Startups to Determine Marketing Budget
- Reading: 7 Tips to Create Facebook Ads That Convert
- Reading: Google Adwords Benchmarks
- Video: Tools of Engagement: Mar-ke-Tcccs - Part 1
- Video: Tools of Engagement: Mar-ke-Tcccs - Part 2
- Video: Tools of Engagement: Mar-ke-Tcccs - Part 3
- Video: Tools of Engagement: Mar-ke-Tcccs - Part 4
- Reading: Sales vs. Marketing -- Marketing Always Changes
- Reading: The Elements of a Successful Sales Business Plan
- Reading: 6 Growth Hacking Success Stories
- Reading: Art of Rainmaking
- Video: The Anthem: ABC
Graded: Understanding Marketing
Graded: Marketing Planning
WEEK 7
Checklist for Launch
This module presents the fifth and last step to prepare for your capstone experience and the launch of your business. At the end of this module you will have a completed a formalized final launch plan laying out the execution steps for your capstone experience.
Graded: Launch Plan
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