This course is part of the How to Start Your Own Business Specialization

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How to Start Your Own Business SpecializationMichigan State University

About this Course

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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.

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Course 5 of 6 in the

How to Start Your Own Business Specialization

Approx. 24 hours to complete

English

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Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 5 of 6 in the

How to Start Your Own Business Specialization

Approx. 24 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructors

Instructor rating

4.75/5 (15 Ratings)

Ken Szymusiak

Managing Director, Burgess Institute for Entrepreneurship & Innovation

Broad College of Business

85,441 Learners

6 Courses

Forrest S. Carter

Associate Professor, Faculty Director of Institute of Entrepreneurship and Innovation

Marketing

85,441 Learners

6 Courses

Offered by

Michigan State University

Michigan State University has been advancing the common good with uncommon will for more than 150 years.

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Syllabus - What you will learn from this course

Week1

Week 1

3 hours to complete

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.

3 hours to complete

5 videos (Total 32 min), 9 readings, 4 quizzes

5 videos

Command Center3mRevisiting Strategy7mDirecting Vision6mMission Remarkable5mGearing Up To Score9m

9 readings

Five Steps to a Strategic Plan3mWhat is a Vision Statement?5mSample Vision Statements3mReview What Is Strategy?7mInvest in Your Success4mWhy Small Businesses Should Scrap Strategic Planning4mWhat is a Mission Statement?6mUnderstanding Goals10mWhy are Goals and Objectives Important?4m

3 practice exercises

Understanding What It Will Take To Launch30mReview of Key Strategy Concepts30mUnderstanding a Strategy Statement12m

Week2

Week 2

5 hours to complete

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 hours to complete

5 videos (Total 43 min), 4 readings, 3 quizzes

Week3

Week 3

4 hours to complete

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.

4 hours to complete

3 videos (Total 26 min), 9 readings, 4 quizzes

3 videos

Who Can Stake You - Part One?5mWho Can Stake You - Part Two?7mWho Can Stake You - Part Three12m

9 readings

35 Great Ways to Fund A Small Business7mFind Financing, Even If You Don't Fit a 'Type'5mStartup Business Loans3m5 Things You Should Know About Revenue-Based Financing5mThe Basics of Crowdfunding5mHow to Finance a Business With Your 401K5mThe Search Fund Model5m10 Tips For Bootstrapping Your Startup5mBootstrapping A Lean Startup10m

3 practice exercises

Money Milestones30mWho Can You Ask?30mWhich 'Boots' Fund Best?30m

Week4

Week 4

2 hours to complete

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.

2 hours to complete

3 videos (Total 29 min), 6 readings, 2 quizzes

3 videos

What Game To Play?9mDesigning For Breakthrough9mType Cast Your Business9m

6 readings

Business Models Business Strategy10mReinventing Business Models Through Risk Management7mHow to Identify Your Riskiest Business Model5mBlue Ocean Strategy: Creating Your Own Market5mValue Innovation - The Key to Blue Ocean Strategy7mFour types of market (market maturity): Where does your startup’s product belong?10m

2 practice exercises

What Makes Your Business Model Work?30mKnowing Your Market30m

Week5

Week 5

4 hours to complete

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.

4 hours to complete

9 videos (Total 83 min), 15 readings, 3 quizzes

9 videos

Actions Speak Louder7mSpreadsheet Tour - Part 111mSpreadsheet Tour - Part 25mSpreadsheet Tour - Part 38mSpreadsheet Tour - Part 412mShow Yourself the Money7mWhere Truth Lives12mCOGS of Success8mCosts to Be The Boss8m

15 readings

How to Create a Budget for Your Startup5mThe Stederal Case10mResource Budgeting Analysis Spreadsheets12mTop-Down-Forecasting for Pre-revenue Startups10mBuying Power Index by State2mBuying Power Index for Key Cities2mBottom Up Forecasting for Pre-Revenue Startups10mWhat Makes A Good Production Plan5mPrincipal Factors in Successful Production Planning5mRetail Range Planning, Merchandise Planning and Assortment Planning3mSupply-Chain Mapping - The How To Guide5mCost of Goods Sold & Cost of Services3mHow Do I Calculate the Direct - Cost of Sales for an Internet Startup3mReady to Start a Business? Here’s What It Will Cost3mTwo Weeks to Startup-Day 3_ Calculating Startup Costs5m

3 practice exercises

Navigating Market Potential30mOperational Details30mCounting the Costs30m

Week6

Week 6

5 hours to complete

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.

5 hours to complete

10 videos (Total 118 min), 14 readings, 2 quizzes

10 videos

The Essence of Business Essentials16mPoints of Distinction - Part 17mPoints of Distinction - Part 211mIt Takes A Village - Part 18mIt Takes a Village - Part 212mTools of Engagement: Mar-ke-Tcccs - Part 111mTools of Engagement: Mar-ke-Tcccs - Part 210mTools of Engagement: Mar-ke-Tcccs - Part 310mTools of Engagement: Mar-ke-Tcccs - Part 411mThe Anthem: ABC18m

14 readings

Essence of Marketing10mA Case for Entrepreneurial Marketing5mEntrepreneurial Marketing for Your Business5mUse These 5 Steps to Create a Marketing Plan5mGetting to Grips with Content Marketing for Small Businesses10mCreating New Markets10mHow to Create an Effective Marketing Plan3mA Simple Guide for Startups to Determine Marketing Budget10m7 Tips to Create Facebook Ads That Convert10mGoogle Adwords Benchmarks3mSales vs. Marketing -- Marketing Always Changes10mThe Elements of a Successful Sales Business Plan10m6 Growth Hacking Success Stories5mArt of Rainmaking5m

2 practice exercises

Understanding Marketing30mMarketing Planning30m

Week7

Week 7

1 hour to complete

Checklist for Launch

1 hour to complete

About the How to Start Your Own Business Specialization

This specialization is a guide to creating your own business. We will cover a progression of topics necessary for successful business creation including: mindset, ideation, planning, action and strategy. Rather than just describing what to do, the focus will be on guiding you through the process of actualy doing it. The Capstone course will bring all of the tools and lessons discussed together for you to launch your business. It may not be the business of your dreams, but it will be a functional business giving you the execution capability to start something you are passionate about.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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