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Introduction: idea is not enough and other most dangerous startup mistakes
This is the course for both fresh and experienced startupers among you. Read, practice & test your skills for the growth of that #NextUnicorn! When you feel ready take the final quiz to test your knowledge and be awarded with Startup Guide's certificate of completion signed by the Head of Startup Lithuania!
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Section 1: Planning your business idea
How to brainstorm, discover and plan you next BIG idea and bring it to life.
- 1.1. The Essence: problem solving and value proposition
- Exercise 1.1.1 – Identify Problems, Jobs, and Gains
- Exercise 1.1.2 – Prioritize and Bundle the Solution
- Exercise 1.1.3 – Define Value Proposition
- 1.2. Alternative solutions & competitive analysis
- Exercise 1.2.1 – Google the Solution
- Exercise 1.2.2 – Talk to People
- Exercise 1.2.3 – Compare Offerings
- Exercise 1.2.4 – Find Blue Ocean
- Assignment/deliverable #1 – Value Proposition
- 1.3. Segmentation and potential market size
- Exercise 1.3.1 – Define Market Type
- Exercise 1.3.2 – Divide Market into Segments
- Exercise 1.3.3 – Create Scheme and Persona
- Exercise 1.3.4 – Choose Target Segments
- 1.4. Monetization Options and Financial Estimations
- Exercise 1.4.1 – Choose Revenue Model
- Exercise 1.4.2 – Calculate Your Costs
- Exercise 1.4.3 – Know Your Cash Burn Rate
- Exercise 1.4.4 – Evaluate Need for Investment
- 1.5. Business model
- Exercise 1.5.1 – Answer Key Questions
- Exercise 1.5.2 – Draft the Canvas
- Exercise 1.5.3 – Review and Clarify
- Assignment/deliverable #2 – LEAN Canvas
- 1.6. Market and business environment analysis
- Exercise 1.6.1 – Plan the Research
- Exercise 1.6.2 – Estimate Market Size and Growth
- Exercise 1.6.3 – Evaluate Your Business Environment
- Exercise 1.6.4 – Update Value Proposition
- Assignment/deliverable #3 – Market Size and Business Environment
- Self assessment quiz #1 – Business Model
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Section 2: Testing your business idea
How to approach, validate and test your idea with potential users, customers, partners.
- 2.1. Get ready for hypotheses verification
- Exercise 2.1.1 – List all the Assumptions
- Exercise 2.1.2 – Complete Experiment Cards
- Assignment/deliverable #4 – Experiment Cards
- Exercise 2.1.3 – Find Potential Customers
- Exercise 2.1.4 – Choose the Type of Engagement
- 2.2. Creating minimal viable products: purposes and types
- Exercise 2.2.1 – Select the Type of MVP
- Exercise 2.2.2 – Create Your MVP and Run Experiments
- Exercise 2.2.3 – Make Decision: Pivot or Proceed
- 2.3. Validating problem-solution-market fit
- Exercise 2.3.1 – Validate the Problem
- Exercise 2.3.2 – Validate the Solution
- Exercise 2.3.3 – Validate the Price
- Exercise 2.3.4 – Validate the Target Segment
- Exercise 2.3.5 – Update Your Business Model
- 2.4. Testing communication and distribution channels
- Exercise 2.4.1 – Decide on Distribution Strategy
- Exercise 2.4.2 – Make a Draft of Your Sales Funnel
- Exercise 2.4.3 – List Possible Channels
- Exercise 2.4.4 – Test Channels in Small Batches
- Exercise 2.4.5 – Update Your Business Model
- Self assessment quiz #2 – Experiments and Validation
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Section 3: Funding your business
How to attract initial and further investments to help your startup grow and prosper.
- 3.1. Startups challenges and the fundraising process
- Exercise 3.1.1 – Get Ready for the Process
- Exercise 3.1.2 – Turn on Fundraising Mindset
- Exercise 3.1.3 – Identify Key Milestones
- Exercise 3.1.4 – Estimate Your Financial Needs
- 3.2. Choosing the best funding source
- Exercise 3.2.1 – Personal Savings, Loan, and Other Sources
- Exercise 3.2.2 – Business Income in Advance
- Exercise 3.2.3 – Crowd Funding Platform
- Exercise 3.2.4 – Angel Investors and Seed Firms
- Exercise 3.2.5 – Accelerators and Incubators
- Exercise 3.2.6 – Venture Capital Funds
- Assignment/deliverable #5 – Milestones
- 3.3. Creating a pitch deck and other fundraising material
- Exercise 3.3.1 – Elevator Pitch and One-pager
- Exercise 3.3.3 – Investor Presentation and Pitch
- Exercise 3.3.4 – Detailed Pitch Deck
- Exercise 3.3.5 – Online Profiles and Media
- Exercise 3.3.6 – Financials and cap table
- Exercise 3.1.5 – Maximize Your Startup Valuation
- Assignment/deliverable #6 – Pitch Deck
- 3.4. Entering into an investment agreement
- Exercise 3.4.1. Is the investor a good fit for your startup
- Exercise 3.4.2. Investor-founder partnership expectations
- Exercise 3.4.3. Forms of the investment
- Self assesment quiz #3 – Fundraising
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Section 4: Go to market
How to sell the product once it is tested and ready for the world markets.
- 4.1. Craft an irresistible offer
- Exercise 4.1.1 – Draft a High ROI Offer
- Exercise 4.1.2 – Create Unique Selling Proposition
- Exercise 4.1.3 – Make Your Offer Believable
- 4.2. Prepare your go to market strategy
- Exercise 4.2.1 – Product and market relationship
- Exercise 4.2.2 – Set Strategic Direction for Growth
- Exercise 4.2.3 – Define Marketing Strategy
- Exercise 4.2.4 – Have Alternative Marketing Strategy
- Exercise 4.2.5 – Update Your Business Model
- Assignment/deliverable #7 – Go-to-Market Strategy
- 4.3. Plan your marketing and sales actions
- Exercise 4.3.1 – Define the Main Goal
- Exercise 4.3.2 – Outline the Objectives
- Exercise 4.3.3 – Break Out Objectives Into Tasks
- Exercise 4.3.4 – Tie Tasks to Dates
- 4.4. Get ready to up-sell, cross-sell, and down-sell
- Exercise 4.4.1 – Create Up-Selling Offers
- Exercise 4.4.2 – Create Cross-Selling Offers
- Exercise 4.4.3 – Create Repeat Sales Business Model
- Exercise 4.4.4 – Consider Down-Sell Strategy
- Exercise 4.4.5 – Find Partners for Affiliate Sales
- 4.5. Foundations for startup branding
- Exercise 4.5.1 – Prepare for Brand Development
- Exercise 4.5.2 – Decide on Brand Characteristics
- Exercise 4.5.3 – Create Your Brand Identity
- Exercise 4.5.4 – Make Your Brand Alive
- Assignment/deliverable #8 – Marketing Plan
- Self assesment quiz #4 – Go-to-Market
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Additional resources
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Final Quiz
Assignment/deliverable #3 – Market Size and Business Environment
- No
- 7 days
- 5 point(s)