Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan

Michigan State University via Coursera

Go to Course: https://www.coursera.org/learn/business-planning

Introduction

## Course Review: Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan In today's ever-evolving business landscape, the ability to effectively plan and adapt is critical for any entrepreneur or business professional. Coursera's course titled **"Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan"** offers a comprehensive framework for transforming your business idea into a scalable and replicable model. Under the guidance of industry experts, the course provides valuable insights and hands-on experience that are essential for success in the world of startups and new ventures. ### Course Overview This course is anchored on the philosophy that a startup is essentially a prototype—a concept highlighted by Steven Blank. It emphasizes that the process of starting a business is fundamentally about learning and refining your business model to meet market needs effectively. By the end of the course, learners will have the tools and skills to articulate a business model encompassing value propositions and revenue strategies while systematically testing their assumptions. ### Key Learning Outcomes Upon completing this course, participants will be equipped to: - Create a business model that outlines the values offered, the target audience, and the revenue generation methods. - Systematically validate and test these business assumptions through real-world research and engagement. ### Course Structure and Syllabus Breakdown #### 1. Introduction The course begins by establishing the ultimate goal of the business development process—the Business Franchise Model. This module lays the groundwork for understanding the components of the business development journey and highlights the importance of setting clear milestones. **Learning Goals:** - Understand the significance of the Business Franchise Model as the ultimate objective. - Identify key milestones in the business development process and the necessary steps to achieve them. #### 2. Principled Planning In this section, learners explore the importance of adopting a flexible, innovative approach to planning. Contrasting traditional pessimistic views, the "New Business Paradigm" encourages continual discovery and adaptability. **Learning Goals:** - Develop critical thinking skills regarding planning processes. - Establish a conceptual foundation for this innovative approach to business planning. #### 3. Creating Value for Customers The heart of any successful business is the customer. This module teaches participants how to identify the value they can provide and express it through a compelling value proposition. **Learning Goals:** - Break down customer needs into categories of jobs, gains, and pains. - Formulate a powerful value proposition statement that resonates with prospective customers. #### 4. Construction Zone Two: Value Proposition This unique aspect of the course allows learners extended time to engage with their market actively. The aim is to refine their understanding of value propositions through direct market interaction. #### 5. Proposing the Business Concept Statement This module guides learners in developing their Business Concept Statement—a crucial component of the business model. **Learning Goals:** - Create and assess a comprehensive Business Concept Statement. - Validate its effectiveness in addressing market needs. #### 6. The Business Model and Launch Plan The final segment of the course focuses on translating the business concept into a tangible business model and launch plan. Here, you'll understand the categorization of various business models and their implications. **Learning Goals:** - Grasp different business model frameworks and their financial impacts. - Master the creation of a Business Model Canvas as a tool for visualization and strategy development. ### Why You Should Enroll This course offers a unique blend of theoretical knowledge and practical application. Whether you're an aspiring entrepreneur or a seasoned business professional looking to refine your strategic planning skills, this course stands out for several reasons: - **Practical Application:** With real-world case studies and market engagement activities, learners gain hands-on experience that is critical for real business development. - **Expert Guidance:** The course is crafted by industry experts, ensuring you receive top-notch instruction backed by years of experience. - **Structured Learning Path:** The logical progression through various modules helps maintain clarity and focus, making the complex subject matter accessible and manageable. ### Conclusion If you're serious about turning your business ideas into reality, "Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan" is a course that should not be missed. It empowers students with the knowledge and tools needed to craft a strategic business model that is adept at navigating the challenges of the modern market. Enroll today and take the next step toward building a successful business!

Syllabus

INTRODUCTION

This module re-establishes that the ultimate goal of the business development process is the Business Franchise Model - Business Plan. It then provides an overview of the components of this business development process,and the process to create them. Learning Goals: every arduous journey needs a clear and ever-visible goal to guide it. After successfully completing this module, you will be able to do the following. 1) Explain why the 'Business Franchise Model - Business Plan is the ultimate goal of the business development process, making it your clear and ever-visible goal. 2) You will also be able to list the core milestones of this business development process process and the steps to achieve them. Thus enabling you to follow those steps to achieve those milestones towards creating your own business.

PRINCIPLED PLANNING

Planning is a critical part of the business development process. The planning required by the 'New Business Paradigm' requires a different perspective and processing than what is traditionally thought of as planning. It seeks continual discovery as opposed to a static right solution. Learning Goals: Steve Jobs famously said, "Think Different". He wasn't just referring to what you think, but also how you think. After successfully completing this module, you will be able to do the following. 1) You will be capable of thinking differently with respect to planning. 2) You will be able to provide a rationale for this different way of thinking based on your understanding of its conceptual foundations. 3) After reviewing several illustrative examples for this type of planning, and illustrative examples of its execution you will move towards mastering the principles of this new planning process. Note! Mastering the principles that underlie this planning approach is a 'profession skill' required for all professionals, not just entrepreneurs in our new economy.

CREATING THE VALUE THAT WILL CREATE A CUSTOMER

The ultimate goal of any business, in fact the only goal is to create a customer. First and foremost in creating a customer is to create value. This lesson the nature of the value you have identified for your business and how it is expressed in a value proposition. After successfully completing this module, you will be able to do the following. 1. Dissect the problem you are trying to address in the market place into three categories: jobs or tasks the prospective customer is trying to achieve; the gains or benefits they seek in through those jobs or tasks; and the pains they are trying to relieve through those jobs or tasks, or the pains they endure in trying to perform those jobs or tasks. 2. Be able to compose a value proposition statement identifying what you believe to be the critical jobs, gains, or pains prospective customers will be willing to pay for. 3. Be able to test and validate that the jobs, gains, and/or pains you have identified are in fact the one most important to prospective customers, and that they are willing to pay for them. 4. Be able to make a compelling argument for why a prospective customer should in fact be your customer through your composition of this validated value proposition statement.

Construction Zone Two: Value Proposition

We have said several times that this course is somewhat unique as a online experience. Our goals involve more than just mastery of some content, or the execution of some task. Our goals include a tangible accomplishment: an ongoing business. You can put a time limit on an exam or an assignment, you can not dictate the time frame for a successful business. With this in mind we want to give you the learner extended time to truly engage your market and develop one of the most important aspects of one of your business development milestone. That being the value proposition. After successfully completing this model you will have successfully completed a set of activities that will give you a much clearer picture of the extent to which you have created a value that can potentially create a customer.

PROPOSING THE BUSINESS CONCEPT STATEMENT

This course presented six milestones in the business development process. This module presents lessons that guide the development (proposing) and testing (proofing) of the first of these, the business concept statement which includes a detailed value proposition statement. After successfully completing this module, you will be able to do the following. 1. Develop a Business Concept Statement. 2. Assess the quality of a Business Concept Statement in terms of whether all the required components are contained. 3. Be able to determine the validity of a Business Concept Statement.In addition to these capabilities, you will have completed the first of five milestones in your journey to have a functioning business at the end of the specialization.

The Business Model and Launch Plan

This module continues with the milestones of the Quad-P planning process presented in this course. It presents lessons that guide the development (proposing) and testing (proofing) of the Business Model and Launch Plan milestones. These milestones transition the business concept into a profitable business. After successfully completing this module you will 1) be able to recognize and categorize various business models in terms of their impact on financial documents, their narrative, or their infrastructure; and 2) be proficient in developing a business model canvas.