From the initial spark in an entrepreneur’s eye to the establishment of a business, entrepreneurs must continuously gain skills and knowledge in a variety of realms. In this six part series, we will explore the process from ideation to business actualization in broad strokes, providing practical tips and best practices for entrepreneurial skill development. Students will work in groups and go through the steps of generating a business idea, creating a business plan for it, and pitching to their peers. Additionally, the students will take part in a negotiation skills practicum in which they will do business simulations that will help them develop skills to close the deal.
Ideation & Innovation: Creative Thinking Workshop
The first session will include an introduction to the world of creative thinking and innovation. It will include practical recommendations how to be more creative in initiating a business idea and what are the main causes that develop dependencies among humans. The second part of the session will include the teaching of an ideation method for business development.
A study case will be taught (why everything goes wrong when you do everything right!) and a second method in creative thinking will be presented. The students will exercise the new methodology in class and for homework.
Strategic Planning and Creating an Entrepeneurial Business Plan
Strategic planning starts with understanding the business environment in which you want to operate. During this class we will learn how to define the business environment in which your venture will operate and how to analyze the market in which you will compete. You will learn how to analyze potential competitors as well as other stakeholders. At the end of the lecture you will be able to define your “market story”.
Entrepreneurship is about planning your business within the environment in which you will compete. During this class we will learn about various business models, business strategy and how to examine the feasibility of your venture in financial terms. At the end of the lecture, you will be able to define your strategic focus and translate this focus in basic business numbers.
Pitching Your Idea
Money Time… how to deliver a winning presentation. 120 minutes that may change your life. From what a presentation should include thorough tips how to pitch it, all will be covered in this session.
Closing the Deal - Negotiation Skills Practicum
In this two-part negotiation practicum, we will utilize short negotiation simulations that will allow us to delve into some of the basic concepts and principles of negotiation. The tools learned in class will be useful for personal and business negotiations in both transactional and more complex negotiation settings.
In this session, we will cover some of the basic principles in integrative negotiation, in which more than one issue is available to be negotiated. Students will learn how to approach the negotiation with a creative mindset that sets out to create value for the benefit of both sides and to identify trade-offs that exceed your party’s expectations.
With a mix of theoretical knowledge and practical tools, students will both enhance their “skills toolkit” for business entrepreneurship and be able to reflect in a more serious way on their strengths and weaknesses as entrepreneurs to continue self-learning in a targeted manner.