How to Build a Startup | The Lean LaunchPad
Details
In an introduction to the basics of the famous Customer Development Process, Steve Blank provides insight into the key steps needed to build a successful startup.
The main idea in this course is learning how to rapidly develop and test ideas by gathering massive amounts of customer and marketplace feedback. Many startups fail by not validating their ideas early on with real-life customers. In order to mitigate that, students will learn how to get out of the building and search for the real pain points and unmet needs of customers. Only with these can the entrepreneur find a proper solution and establish a suitable business model.
Building a startup is not simply building an execution plan for a business model that the entrepreneur thinks will work, but rather, a search for the actual business model itself.
You will learn the business skills it takes to bring your idea from conception to market. These include:
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Actively listening and engaging your customers to find out what exactly they want in your product and how you should deliver it to them
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Gathering, evaluating and using customer feedback to make your product, marketing, and business model stronger
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Engaging your customers through the three phases of the customer relationship management lifecycle: get, keep, and grow
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Identifying key resources, partners, activities, and distribution channels required to deliver your product to your customer
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Calculating your direct and indirect costs for delivering your product
This class involves no programming. The characteristics of a budding entrepreneur: passion, tenacity, and a willingness to work hard, are essential.
We also recommend you join the class with at least a rough idea of a business model for a startup you would like to work on throughout this class.
See the Technology Requirements for using Udacity here https://www.udacity.com/tech-requirements.
Talk to customers, build a Business Model Canvas, prototype your product and pitch to coaches.
Outline
- History of the Corporation
- Startups Are Not Smaller Versions of Large Companies
- Waterfall Development
- Customer vs. Product Development
- Entrepreneurial Education
- Value Proposition
- Customer Segments
- Revenue Streams
- Key Resources
- Customer Development Processes
- Minimum Viable Product
- Market Opportunity Analysis
- Value Proposition and the Minimum Viable Product
- Customer Archetype
- MVP Physical && Web/Mobile
- Common Mistakes With Value Proposition
- Product Market Fit
- Rank and Day in the Life
- Multiple Customer Segments
- Market Types Introduction: Existing, Resegmented, New, Clone
- Consequences of Not Understanding a Market
- Distribution Channels Overview
- Web Distribution
- Physical Distribution
- Direct Channel Fit
- Indirect Channel Economics
- OEM Channel Economics
- Paid Demand Creation
- Earned Demand Creation
- Get Physical
- Viral Loop
- Web Customer Acquisition Costs
- How Do You Make Money
- Revenue Streams and Price
- Direct and Ancillary Models
- Common Startup Mistakes
- Market Types and Pricing
- Single and Multiple Side Markets
- Revenue First Companies
- Market Size and Share
- Partner Definition
- Partner Resources
- Partner Types
- Greatest Strategic Alliance
- Joint Business Development
- Four Critical Resources
- Financial Resources
- Human Resources
- Qualified Employees and Culture
- Intellectual Property Overview
Speaker/s
Steve Blank is a seasoned Silicon Valley entrepreneur. Translation: he has failed and--more often--succeeded, in a 21-year career building 8 Valley startups, including several with major IPO's. Along the way, he's learned an incredible amount, and has spent the last decade sharing what he's learned with entrepreneurs all over the world. Author of two famous books on entrepreneurship, The Four Steps to the Epiphany, and The Startup Owner's Manual. Steve teaches entrepreneurship at Udacity, Stanford, Berkeley, Columbia, and other major universities worldwide. He was named "Master of Innovation" by Harvard Business Review and is an advisor to many successful entrepreneurs. He is also an avid conservationist, contributing generously to preserve the California Coast.
Kathleen manages content development at Udacity. EP245 is the first class for which she is working as the official Course Developer. She's learned a lot from Steve while producing his class and hopes to help students with the course in any way she can!
Our mission is to bring accessible, affordable, engaging, and highly effective higher education to the world. We believe that higher education is a basic human right, and we seek to empower our students to advance their education and careers.
Education is no longer a one-time event but a lifelong experience. Education should be less passive listening (no long lectures) and more active doing. Education should empower students to succeed not just in school but in life.
