INNOVATION IN ENTREPRENEURSHIP
Ideation focuses on rapidly finding and vetting great ideas. You’ll learn important concepts such as looking at ways your organization can be a disruptive player and ways to challenge existing orthodoxies. This part will also provide you with insights into the ways innovative companies have successfully unleashed inspiration in their own organizations and how they have dealt with risk.
Incubation equips you with the tools for nurturing your corporate entrepreneurship, creating a learning plan, and initiating the prototyping phase. You will learn how Design Thinking can help you solve complex problem, receive best practices for A/B testing, and create an action plan for in-market experiences with your prototype. You’ll walk away with valuable insights into failing intelligently and prepared for a successful venture launch back at the office.
Acceleration will provide you with a powerful tool kit for innovation proficiency. You’ll start the program by identifying your entry strategy. Next, you’ll learn how to make critical decisions on pricing, promotional budget, and relationships with ecosystem partners. Finally, you’ll tackle the resource question, evaluate your launch team, and develop a strong set of external assets.
Our Venture for Creation™ program provides participants with an intensive, “hands-on” course focusing on the creation, evaluation, development, and launch readiness of a new business or social venture. Key issues are addressed in a fashion highly consistent with other formal venture planning processes including: business model development, customer discovery, product-market validation, in-depth industry and market analysis, product or service innovation, brand development and go-to-market strategies, team selection & management, profit models, financing, and legal considerations.
At the highest level, you will come away with clear answers to the following questions:
- What are the issues, tensions, and relationships faced by entrepreneurs as they build a new venture?
- What are common enablers and barriers to venture creation?
- How to develop a business model to test your assumptions about product offerings and market demand?
- How do you assess the current market and position your product offerings for competitive advantage?
- What is the most agile way to develop new product and services that will gain market traction quickly?
- What are current approaches for cost effective customer acquisition and retention?
- How to build credible financials based on reasonable, benchmarked assumptions?
- What metrics are critical to measure and monitor new venture success?
- How to build the right team and culture for successful launch and early stage growth?
The program uses a proprietary sequence of modules and tools to support the development of your new venture. Specific skill development and issues covered include:
- Opportunity Identification: Articulating the problem to be solved and the potential benefit to the customer
- Business Model Development: Turning your new venture idea into a business model
- Customer Discovery: Testing your assumptions about the alignment between your product offering and targeted customers
- Value Proposition: Synthesizing the unique benefits of new offerings and positioning against the competition in the marketplace
- Market Attractiveness: Determining how big your new markets and customer segments are and how to enter successfully
- Early Product Development: Building minimal viable products to test customer acceptance
- Key Partners: Understanding your industry ecosystem to facilitate important relationships
- Profit Models: Identifying revenue sources while minimizing cost factors
- Start-Up Metrics: Identifying critical indicators for benchmarking, measurement, & monitoring
- Team Leadership: Selecting team members with the right mix of knowledge and skills
Prof. Daniel McQuade
Director, Venture for all CBS, NY
International Applicants : USD $ 1025