Action-Driven Business Plan: From the ‘Classroom’ to the World

Technion - Israel Institute of Technology via Coursera

Go to Course: https://www.coursera.org/learn/startup-entrepreneurship-capstone

Introduction

### Course Review: Action-Driven Business Plan: From the 'Classroom' to the World If you’re an aspiring entrepreneur looking to turn your vision into reality, the "Action-Driven Business Plan: From the ‘Classroom’ to the World" course on Coursera is an exceptional opportunity to refine your business acumen and put theory into practice. This capstone project, part of the Startup Entrepreneurship Specialization, synthesizes all you’ve learned into a comprehensive blueprint for launching your business idea. #### Course Overview This six-week course serves as a culmination of the entrepreneurial concepts you’ve encountered throughout the specialization. It challenges you to create a detailed and actionable business plan—one that avoids the traditional, often cumbersome business plan format in favor of an action-driven approach. This method focuses on concrete steps and measurable outcomes, ensuring your project moves toward implementation rather than gathering dust on a shelf. #### Syllabus Breakdown 1. **Welcome & Make a Plan**: The first week sets the stage for your entrepreneurial journey. You'll kick things off by creating a non-business plan—a series of actionable steps with a prioritization scale from 1 to 3. This practical approach ensures that you focus on what truly matters for your idea's progress. 2. **Zoom Out**: In the second week, you’ll keep a detailed diary of insights and conversations. Recording real-world data and interactions enhances your understanding and helps you adapt your idea based on feedback and findings. 3. **Zoom In**: The focus shifts back to refining your product or service idea by leveraging the connections and insights you've gathered in the previous week. This iterative process is essential in developing a business that truly meets market needs. 4. **Shape the Business Design - Part 1**: You’ll start drafting the structural elements of your business. Creating an activity map is crucial, as it visually guides you through the process of launching your venture. 5. **Shape the Business Design - Part 2**: This week delves deeper into the financial aspects. You’ll prepare initial cash flow statements, outline your capital needs, and develop a bootstrapping strategy—it’s about making your plan viable without significant external financing. 6. **Write a Business Plan**: The final week is where everything comes together. You’ll compile a thorough business plan that covers the essential sections: the need, the product, unique features, market analysis, and future developments. Additionally, you’ll create a Gantt chart to plan your project timeline and develop a compelling two-minute video pitch—skills that are invaluable in real-world entrepreneurial settings. #### Why You Should Enroll 1. **Practical Application**: This course emphasizes real-world application over academic theory, making it ideal for those eager to implement their learning in actionable ways. 2. **Structured Guidance**: With clear weekly goals and deliverables, learners benefit from a structured environment that keeps them on track and helps manage their project timelines. 3. **Diverse Skill Development**: Participants will enhance a variety of skills, from project management to financial planning, which are essential in entrepreneurship. 4. **Networking Opportunities**: Engaging with peers who share similar aspirations might present networking opportunities, enriching your learning experience even further. 5. **Capstone Experience**: This course is the perfect capstone for those who have completed the Startup Entrepreneurship Specialization. It solidifies your understanding and prepares you for real-world challenges. #### Recommendation I highly recommend the "Action-Driven Business Plan: From the ‘Classroom’ to the World" course for any aspiring entrepreneur or business leader. It’s not just an educational experience; it’s a transformative journey that equips you with the tools and confidence to take the first steps toward launching your business. Whether you’re starting a new venture or seeking to innovate within an existing business, the course’s actionable framework will empower you to succeed in the competitive landscape of entrepreneurship. Take this opportunity to transition from theory to practice, and watch your business idea take shape in a meaningful way!

Syllabus

Welcome & Make a Plan

Create a completed non-business plan (a series of actions each of which moves your idea toward implementation), including a list of the activities to be undertaken, with degrees of importance (scale of 1 to 3, where 1 is ‘most important’).

Zoom Out

Write a diary: recording conversations, data, insights, day by day, gleaned from a variety of sources, by face-to-face chats, email, Web searches, etc.

Zoom In

A revision of the original product or service idea, in light of information gathered in the Zoom Out process

Shape the Business Design - part 1

Begin to design the business or organization that will successfully implement your creative idea. Prepare an activity map.

Shape the Business Design - part 2

Prepare an initial cash flow statement, showing money flowing out (operations; capital) and flowing in. Estimate your capital needs realistically. Prepare a bootstrapping option (self financing). Prepare a risk map.

Write a Business Plan

Prepare a business plan comprising five sections: The Need; The Product; Unique Features; The Market; Future Developments. Include a Gantt chart (project plan – detailed activities and starting and ending dates); and a project budget. Prepare an effective two-minute video describing your idea, including your ‘pitch’