About the Course
This course assists aspiring entrepreneurs in developing great ideas into great companies. With strong economies presenting rich opportunities for new venture creation, and challenging economic times presenting the necessity for many to make their own job, the need to develop the skills to develop and act on innovative business opportunities is ever present.Using proven content, methods, and models for new venture opportunity assessment and analysis, students will learn two key skills: (1) how to use a business model approach to analyze each part of a company, and (2) a customer development orientation to see if anyone really wants the product. Value propositions, customer segments, strategic alliances, and business modeling are core elements taught in the course. The initial steps to creating a business plan, and raising financial capital to launch the firm, are examined as well. Our goal is to demystify the startup process, and to help you build the skills to identify and act on innovative opportunities now, and in the future.
About the Instructor(s)
Dr. James V. Green leads the education activities of Maryland Technology Enterprise Institute (Mtech) as the Director of Entrepreneurship Education with responsibilities for designing and teaching undergraduate and graduate courses in entrepreneurship and technology commercialization, leading seed funding programs and select business plan competitions, and managing residential entrepreneurship programs for students. In 2011, he earned first prize in the 3E Learning Innovative Entrepreneurship Education Competition presented at the United States Association for Small Business and Entrepreneurship (USASBE) annual conference to recognize college educators who have created new and challenging learning activities that actively involve students in the entrepreneurial experience.
Prior to the University of Maryland, Dr. Green held founder, executive, and operational roles with multiple startups to include WaveCrest Laboratories (an innovator in next-generation electric and hybrid-electric propulsion and drive systems), Cyveillance (a software startup and world leader in cyber intelligence and intelligence-led security), and NetMentors.Org (the first national online career development eMentoring community). Dr. Green earned a Doctor of Management and an MS in Technology Management from the University of Maryland University College, an MBA from the University of Michigan, and a BS in Industrial Engineering from the Georgia Institute of Technology.
- Entrepreneurs and strategic decisions
- Psychology of entrepreneurs
- Entrepreneurial decision-makers and the use of biases and heuristics
- Risk taking in entrepreneurial decision-making
- Exploring real market needs
- Satisfying real market needs
- Macro changes that increase new venture opportunities
- Assessing entrepreneurial opportunities
- Environmental assessment of entrepreneurial ventures
- Selecting the right industry
- Understanding customer adoption
- The business model canvas
- Patterns of business model generation
- Designing business models
- Strategies for business model generation
- Process for business model design
- Developing the business plan
- Market research and positioning
- Keys to raising financial capital
- Building financial statements
- Sources of financial capital
- Managing entrepreneurial growth
This introductory course is designed for those interested in learning about innovative idea generation and new venture creation, and does not require a background in business or any specific area. A desire to build your knowledge and capabilities are the only requirements for entry.
Although the class is designed to be self-contained, students wanting to expand their knowledge beyond what we can cover in this class can find further coverage of these topics in the recommend readings, to include “Business Model Generation” by Alexander Osterwalder and Yves Pigneur, and “Finding Fertile Ground” by Scott Shane.
The class will consist of a series of video lectures each week, which are between 8 and 12 minutes in length. These contain 1 to 2 integrated quiz questions per video. There will also be standalone assignments and a final exam to apply learning and reinforce key methods and models.