NBD405 Entrepreneurship and business model design
Course Description: This course is designed to immerse students in the principles and practices of Lean Entrepreneurship, a methodology that emphasizes efficiency, customer-centricity, and rapid iteration. Students will embark on a journey through the Lean Startup framework, with each module focusing on a critical step in the entrepreneurial process. By the end of the course, students will be equipped to create and manage lean, customer-driven ventures that thrive in today's competitive landscape.
Module 1: Do you have what it takes to be an entrepreneur?
- Discuss the different types of entrepreneurs and what makes them successful
- Identify your passion, values, and skills and turn them into a business idea
- Turn your idea into an initial (tentative) business model
Module 2: Problem Identification and Customer Discovery
- Define and articulate the problem or need that the venture aims to address.
- Identify potential customer segments and validate their pain points.
Module 3: Hypothesis Testing and Lean Experimentation
- Create and test hypotheses related to the proposed solution.
- Understand the principles of Minimum Viable Products (MVPs) and rapid prototyping.
- Learn how to make data-driven decisions.
Module 4: MVP Development and Iteration
- Build and iterate on Minimum Viable Products (MVPs) based on customer feedback.
- Develop an understanding of the Build-Measure-Learn feedback loop.
- Apply continuous improvement to MVPs for product-market fit.
Module 5: Customer Acquisition and Validation
- Explore strategies for customer acquisition and growth hacking.
- Measure and validate the effectiveness of customer acquisition channels.
- Understand the importance of retention and referral strategies.
Module 6: Lean Business Model Canvas
- Create and utilize the Lean Business Model Canvas for business planning.
- Identify key business model components, including value proposition and revenue streams.
- Pivot or persevere based on business model validation.
Module 7: Scaling and Growth Strategies in Lean Startups
- Explore strategies for scaling a lean startup efficiently.
- Evaluate the challenges and opportunities of rapid growth
Module 8: Funding and Resource Optimization
- Explore lean funding options, including bootstrapping and lean investment.
- Navigate lean financial planning and fundraising strategies.
Module 9: Lean Entrepreneurship Showcase and Pitching
- Prepare a compelling lean startup pitch for potential investors and stakeholders.
- Showcase the journey from problem identification to lean execution.
- Demonstrate proficiency in lean entrepreneurship principles and practices..
Upon completing this course, the student will have gained
- The latest research and trends in the field of entrepreneurship.
- The lean startup methodology ("Build, Measure, Learn").
- Business model design (how to create and validate a business model ).
- Different types of ventures (social ventures, digital platforms, etc) and their underlying business models.
- Problem identification and customer discovery.
- Hypothesis testing and lean experimentation.
- MVP development and iteration.
- Customer acquisition and validation.
- Lean business model design.
- Securing funding.
- Presenting a lean startup pitch.
General competence in
- Advanced research ability, problem-solving, and critical reflection.
- Planning and executing project work in an international team during the length of the semester.
- Communicating findings of the project in a clear and engaging manner.
This course serves as an introductory course to Gründerskolen but can be taken by all NHH students.
This is an interactive course that requires active participation by students throughout classes. Overall, students are expected to take an active role in their own learning experience and contribute to a positive and open learning environment in class. Also, students are expected to reflect on and discuss the status of their term paper against the background of the topics covered in the classes.
Please note that registration to this course ends on 15 January 2024.
Credit reduction due to overlap
GRU401 - Gründerskolen
Groups of students are expected to hand in four deliverables throughout the teaching semester.
Course approval is valid for one semester.
Group term paper accounts for 100 % of the grade, 4-5 students in each group.
Must be written in English.
The required readings in this course will consist of a selection of articles and case study texts. A list will be published upon course start.
Spring. Will be offered spring 2024.
Associate professor Tina Saebi, Department of Strategy and Management, NHH