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How to Turn any Idea into a Business
Module 0: How to Start a Business
Welcome
Welcome Video (0:25)
Objectives for the Course
It’s time for you to become an Entrepreneur
Introduction to Module 0 (0:28)
What do you know?
MODULE 0 Introduction
Cracking the Entrepreneur Mentality
What is entrepreneurship
Entrepreneurship
Inspirational Video
The truth about Entrepreneurs (0:43)
Entrepreneurship Vs. Innovation
What's the difference?
The Entrepreneurship Stereotype
What does "being an entrepreneur" mean to you?
Types of Entrepreneurs
How many types of Entrepreneurs are there? (0:53)
Hypothesis 1
Fact 1
Hypothesis 2
Fact 2
Hypothesis 3
Fact 3
Types of Businesses
Different types of Startups
Small Businesses
Lifestyle Businesses
High Growth Startup
Intrapreneurship
Social Venture
Impact Entrepreneurship
Business Types (0:53)
What makes a business successful
Two Words:
What makes you an entrepreneur?
Don't Lose Faith
Branding yourself as an Entrepreneur
Have an immaculate LinkedIn profile!
Have an immaculate LinkedIn profile!
The power of networking
Your personal brand
The marketing plan for your personal brand
Non-Verbal Communications (0:37)
How to sound smart in your TEDx Talk
The Golden Circle
What is your Why? (0:42)
Ted Talk: Start with Why - by Simon Sinek
Conclusion
Congratulations on completing Module 0 (0:22)
Module 1: Emotional Intelligence
Welcome to Emotional Intelligence Module (1:22)
Why is Emotional Intelligence so important? (0:43)
Emotional Intelligence
An important 1st step
Before we work on your business
Introduction to Emotional Intelligence
What is….
Emotional Intelligence explained
So what are the benefits?
Four main benefits
Why is Emotional Intelligence important?
Communication
Self-Awareness
Leadership
Change
Teamwork
Culture
Compassion
Motivation
Productivity
Relationships
Question
Emotional Intelligence = Money + Success (0:29)
Quiz
Quote - Aristotle
17 Signs You Have Low Emotional Intelligence
Quiz
Work-Life Plan Activity Explanation (1:03)
Activity: Work-Life Plan. Download to complete
True or False
Fact
Meet one of the Godfathers of Emotional Intelligence: Daniel Goleman
Recommended Read
Ted Talk: The Power of Emotional Intelligence
An Emotionally Intelligent Attitude
Emotions explained
Attitude
What are emotions?
Emotions explained
Emotions and the Brain
Did you know?
Activity
Activity: Feelings Part 1 (0:21)
Activity: Feelings Part 2 (1:21)
Activity
Negative and Positive Effects of Emotions
Thoughts create Emotions
What are thoughts?
What we think impacts what we feel
Can we change our thoughts and emotions?
Our favorite mindful apps
What we believe........
How we......
Can we change our thoughts and emotions?
Accepting your Emotions
Accepting emotions is not resigning yourself to pain
Accepting emotions is not resigning yourself to pain
Recommended Movie
TedTalk: Practicing Emotional Intelligence - Jason Bridges
Emotional Health
Can you improve your Emotional Intelligence?
Using self-reflection techniques
Activity
Activity: Your SWOT Analysis (0:42)
What is a SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
The SWOT Analysis
Biohacking
What is Biohacking?
Biohack yourself
A Beginner’s Guide to biohacking
A simple example of biohacking
The Father of Biohacking
Biohacking tips
Bulletproof coffee
Light: www.justgetflux.com
Gratitude
Be thankful
And....
How to form a new habit
How to build a lifestyle
From habit to lifestyle (0:16)
Recommended Read
Ikigai (生き甲斐)
TedTalk: How to Ikigai - Tim Tamashiro
What is Ikigai (生き甲斐)
Ikigai Activity Explanation (0:34)
Find your Ikigai
Activity: Ikigai
For every problem there is a business opportunity (0:57)
Goals
Recommended Read
Video: Don't waste your life
Congratulations
It is time to start Module 2 (0:33)
Module 2: Knowing About Your Business
Knowing about your business
Startups Vs. Small Businesses
Key Differences
STARTUP ≠ SMALL BUSINESS
STARTUP = GROWTH
Breakdown of STARTUP ≠ SMALL BUSINESS
Starting a Small Business vs Starting a Startup: what's the difference?
Start with the end in mind
Activity
Activity: What is your BIG goal?
Goals (0:46)
What makes a good business idea?
A Good Business Idea
Problem
Pain Point
What is a good problem?
Solution
Unique
Solution in Search of a Problem
Insight
Your Insight
Insight for Small Business & Startups
Activity
Activity: Working on the problem
Recommended Read
Consumers as a source of opportunities
Consumers vs. Opportunities
Case Study: Starbucks
Case Study: Threadless
Case Study: C&A Marketing
Always ask Customers for Insights (0:31)
Consumers vs. Opportunities
Recommended Read
Module 3: Design Thinking & Lean Methodology
Module 3: Design Thinking & Lean Methodology (0:23)
Many business fail
Why
Focus on the problem
Fall in love with the problem
What is Design Thinking
Key Principles
Why should I use Design Thinking?
How not to design: Juicero Story
Juicero Video
Why did it fail?
How to find a problem worth solving?
Desirability (0:26)
Desirable = Human Centred
Desirability, Viability & Feasibility
Design Thinking Phases
Phase 1: Empathize
Phase 2: Define
Phase 3: Ideate
Phase 4: Prototype
Phase 5: Test
Design Thinking Process (0:24)
How It Works: Design Thinking
Identify Needs
Quote
Identify Insights
Frame the Problem
Empathy Tools to frame the problem
Brené Brown on Empathy
Understand and Solve
Design Kit IDEO
Introduction to Lean Methodology (0:32)
The Lean Methodology
Learn, Build, Measure
Sprints
Lean
Value
Customer
Waste
Lean
MVP (0:39)
Definition
Case Study
Case Study: The need
Case Study: The problem
Case Study: The idea
Case Study: The MVP
Case Study: The MVP
Case Study: The MVP
Case Study: The Outcome
Case Study: Note
Expected Benefits
3 Awesome Minimum Viable Products (MVPs)
Conclusion: Lean Methodology
Learn, Build, Measure
Recommended Read
Module 4: The Lean Canvas
MODULE 4 The Lean Canvas
Introduction to the Canvas Business Model (0:32)
What is it?
The Lean Canvas
Case study: Facebook
1. Customer Segments
Facebook Customer Segments
2. The Problem
What Problem is Facebook Solving?
3. Unique Value Proposition (UVP)
What is Facebook UVP?
4. Solution
How did Facebook Solve the problem?
5. Channels
What Channels did Facebook use?
6. Revenue Streams
What Revenue Streams did Facebook have?
7. Cost Structure
What was Facebook's Cost Structure?
8. Key Metrics
What was Facebook's Key Metrics?
9. Unfair Advantage
What was Facebook's Unfair Advantage?
Activity
How to Complete Your Canvas
Activity: Your Canvas
Congratulations (0:22)
Module 5: Understanding Your Customers
MODULE 5 Understanding your Customers (0:37)
What is the problem you are solving?
Now let’s focus on;
Target Customer
Who are your potential customers?
What is an early Adopter?
Early Adopters
How to start a movement | Derek Sivers
Adoption Lifecycle
How Do I Find My Early Adopters?
Finding Early Adopters: Airbnb Case Study
Where and How can I find Early Adopters?
Push Based Acquisition
Pull Based Acquisition: Seeking a solution
When building an Ad for Push Based Acquisition
Pull Based Acquisition
Activity
Activity: Customer & Users
Personas
What is a Persona?
Example
How Are Personas Created?
Persona Chart
Persona
Template to use
Activity
Activity: Persona
Validate Personas
What if my target is a company?
Buyer Personas
Example
Recommended Read
Proof of Concept & why is it so important?
How can you prove the need of your idea?
1. Map the Pain Points of your ideal customers
2. Develop a communication channel between you and your customers so you can get feedback
Interviews
Interview Potential Customers
Interview's Pro vs. Con
Interviewing Tip:
Interviewing Dont
Type of questions
Problem understanding
Potential solution
Problem vs Solution
Activity
Go speak to potential customers (0:13)
Next Steps
Final Step in Module 5
Module 6: Getting it done
MODULE 6 Getting it done (0:12)
Types of websites (0:27)
Conversion
Landing Page: Shopify
Corporate Page: Unilever
News / Blog Page: THE VERGE
E-commerce: WOOTTEN
Marketplace Page: EBAY
Recap on Business Idea
What makes a good business idea
The Problem
The Solution
The Insight
Small Business / Startup
Recap on The Lean Canvas
The Name
The Lean Canvas
The Lean Canvas - Template
Business Names (0:47)
Name tips
Business Name Generator
Namelix.com
Namecheckr.com
The Logo (0:41)
The Logo
Canva - Do It Yourself
How to create a logo with Canva
The Domain & Host
What is a Domain?
The Domain
godaddy.com
https://domains.google.com/m/registrar/
What is a Host?
Hosting Price Example
Always check out the Bundle UP options
The Emails
The Emails - Examples
The Website Content
The Website Design
How to write up the content
Every home page should have:
Important Note: Images (0:27)
Where to find free images & icons:
Recommended places to build your website:
S.M.A.R.T. Goals (0:18)
Achieve More by Setting Smart Goals
Module 7: Finance for Startups
MODULE 7 - Finance for Startups (0:36)
Mindset
Business Model vs. Revenue Model
Business Model
Revenue Model
Revenue Model
What revenue models can you think of?
Commission Revenue
Licensing Revenue
Arbitrage Revenue
Rent/Lease Revenue
Subscription Model
Advertising Revenue Model
Fee-for-Service
Crowdfunding
Interest-based Revenue
Donations
Choosing the right Revenue Model for your business
Important to think about:
Case Study
Uber's business model
Uber’s Revenue Model
Business Model Canvas
Note:
Recommended Read
Pricing Strategy (0:30)
What is it?
Setting the right price
Steps:
1. Know your costs
2. Have clear objectives
3. Quality Level vs. Price
4. Know your Competition
5. Demand
Note:
Determine your pricing strategy
How will you charge?
How will you charge?
How will you charge?
How will you charge?
Make it clear:
WARNING
Budget
Important:
Set up costs
Fixed costs
Cost to Acquire a Customer (CAC)
Operating Costs
How to set a Budget
Know your numbers
Step 1 - Plan for "Day One" of Your Business Startup
Step 1 - Plan for "Day One" of Your Business Startup
Step 2 - Estimate Monthly Fixed and Variable Expenses
Step 2 - Estimate Monthly Fixed and Variable Expenses
Step 3 - Estimate Monthly Sales
Step 3 - Estimate Monthly Sales
Step 4 - Create a cash flow statement
Quote:
Accounting vs. Finance
Accounting vs. Finance: explained
Choosing the right structure (in Australia) (0:40)
What is the right one for you?
Business Structure Options in Australia
Tax Rates
Company Tax (Australia)
Goods and Services Tax (GST)
Funding
Did you know?
How to get Funding
Bootstrapping
External Financing
Angel Investors
Venture Capitalist (VC)
Ways to attract investors
“Soft sell”
Show results first
Ask for advice
Have co-founders
Pitch a return on investment
Find an investor that is......
Join a startup accelerator
Follow through
Share user engagement and metrics
Take advantage of the online fundraising market
Avoid following the crowd
Series A, B, C Funding
Pre-Seed Funding
Seed Funding
Series A Funding
Series B Funding
Series C Funding
And what is an IPO?
But… How are Startups valued?
Module 8: Go to Market
MODULE 8 - Go to Market
Introduction (0:20)
What's your plan
Strategy
Distribution
Quote
Distribution:
1.Map out your customer’s ecosystem
Examples
2. Draw arrows in the direction of influence
Ask yourself
3. Design incentives for key ecosystem participants
A great distribution strategy....
What incentives can you think of?
Financial Incentives
Non-financial Incentives
Things to think about!
Can you offer additional features or services?
Social Media
Can you give out status or titles?
Example
Can you provide early/free access?
Can you throw a useful event or party?
Can you give out merchandise?
Can you tell a great story?
Think distribution first
Traction
Pirate Metrics
Aarrr
Aarrr Explained
AARRR 5 Step Startup Metrics Model
1. Acquisition
Paid, Earned, Owned
Let’s brainstorm
Where we can find you customers
How to start?
List all the possible channels for user acquisition.
Estimate how long it will take you to implement.
Case Studies (0:14)
Instagram - Simplicity and Agility
Pinterest – Sign-Up Success
Recommended Read
Getting Ready
1. Define Your Audience
There are two audiences....
Your current audience is...
Three Simple Resources
Alexa
What your ideal audience looks like?
Answer these questions
2. Create Your Landing Page
What It Needs!
Answer these questions
What channel?
It’s time for you to pick your Revenue
How many will actually become customers?
How will you......?
Subscription Business Model
Freemium Model
Direct Sales Model
On Demand Model
Franchise Model
Loss Leader Model
Ziferblat Model
Crowdsourcing Model
Congratulations (0:18)
Module 9 - Winning Pitch
Introduction to the Perfect Pitch (0:14)
Ready to pitch?
Your “listener” must
Why is it so important?
Did you know? (0:15)
How to cause a good impression
Essential concepts
The Importance of Pitching
3 C’s Clarity Confidence Connection
What makes it a great pitch
Elevator Pitch
Quote
Elevator Pitch: explained
Let's learn (0:18)
Elevator Pitch Winner
Tell us
Airbnb
Dropbox
Your Two Sentence Strategy
Slack
Activity
Practice all three pitches for your idea:
The Pitch everyone talks about
Airbnb's Perfect Pitch (0:21)
Airbnb: Welcome Page
Airbnb: Problem Page
Airbnb: Solution Page
Airbnb: Market Validation Page
Airbnb: Market Size Page
Airbnb: Product Page
Airbnb: Business Model Page
Airbnb: Adoption Strategy Page
Airbnb: Competition Page
Airbnb: Competitive Advantages Page
Airbnb: Team Page
Airbnb: Press Page
Airbnb: Testimonial Page
Airbnb: Financial Page
Pitch Deck: Y-Combinator
How to Design a great Pitch Deck?
Activity
Your Pitch Deck (0:14)
Your Pitch Deck: Slide 1
Your Pitch Deck: Slide 2
Your Pitch Deck: Slide 3
Your Pitch Deck: Slide 4
Your Pitch Deck: Slide 5
Your Pitch Deck: Slide 6
Your Pitch Deck: Slide 7
Your Pitch Deck: Slide 8
Your Pitch Deck: Slide 9
Your Pitch Deck: Slide 10
Book Recommendation
Module 10 - Business Metrics
Business Metrics
Why to use data?
Data-driven
Gut feeling
Measure the data (0:29)
Data is proof
Data-driven vs. Data-informed
Data vs. Human Judgment
Data informed
Data and your Business Model
Data vs. Human Judgment
Don’t be an entrepreneur that:
Be an entrepreneur that:
What makes a good metric?
Track your data
Metrics & your Business Model
What are your key metrics
Data vs. The Right Product
What are the characteristics of a good metric?
A good metric is understandable
A good metric changes the way you behave
Intro to types of metrics
Types of metrics:
Qualitative metrics
Quantitative metrics
Vanity metrics
Actionable metrics
Exploratory metrics
Reporting metrics
Leading metrics
Lagging metrics
Note:
Casual
Analytics frameworks
Dave McClure's AARRR
Dave McClure's AARRR
Eric Ries's Lean Startup
KPI for stickiness
Viral coefficient
CLV and CAC
Ash Maurya’s Lean Canvas
Ash Maurya’s Lean Canvas
Customer Segments
Problem
Unique value proposition
Solution
Channels
Revenue Streams
Cost Structure
Unfair Advantage
Metrics for different Business Models
e-Commerce metrics
e-Commerce metrics
e-Commerce metrics
Software as a Services metrics
Software as a Services metrics
Software as a Services metrics
Free mobile app metrics
Free mobile app metrics
Free mobile app metrics
Two-sided marketplace metrics
Two-sided marketplace metrics
Analytics tools
Google Analytics Explained
Google Analytics
Kissmetrics explained
Kissmetrics
crazy egg explained
crazy egg
hotjar explained
hotjar
mixpanel explained
mixpanel
Module 11 - Getting the First Customer
Getting the First Customer
Creating a Sales Mindset
Quote
The Bridge Between the Customer and the Product
Sales = Money
Selling is all about relationships
Listen more, Talk less
Ask the right questions
Customers care about their problems, not your product
Customers care about their problems, not your product
Buying with emotions
Price and value are sides of the same coin
Value
There is no sale unless you can close it
Slow burn, long play
Activity
Finding your first customers (0:18)
Reflect and respond below questions:
The Psychology of Sales
Why People Buy
Degrees of satisfaction
Identify a prospect’s emotional values
Consider how it will make others feel
Don’t
Gain vs. Fear
Primary Customer Needs
Psychology Triggers
Reciprocity
Reciprocity examples
Offer something in advance
Content
Commitment and consistency
Commitment and consistency
Make it frictionless
Liking
Brands & Celebrities
How to get likes;
Recommendations
Frequently Purchased
Products Researched
Authority
Authority
Authority
Is your product hand-crafted by trained artisans? Tell the world all about them
Big names sell
Social proof
Did you know?
Social proof
Top sellers
Brand endorsement
Scarcity
Scarcity
Countdown
Don’t miss out
Limited Offer
The Sales Funnel
Every step that someone has to take in order to become your customer
Why is a sales funnel important?
Sales funnel stages
A.I.D.A.
Awareness
Interest
Decision
Action
Action
Finding and Converting your First Customer
Start with a list of prospects
Look for referrals
Work your network
Show it off
When you attend industry events, remember to:
Partnerships
Build an online presence
Spread the world on social
#BossYourFuture (0:37)
Thank You
Teach online with
What was Facebook's Key Metrics?
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