- Students continue with Personal Entrepreneurial Development
- Students execute experiments to attract customers and evaluate which directions the business idea should be going.
- Students apply concepts of value and valuation.
- Students analyze different options in negotiations with potential investors.
By now, students have developed a business idea to the extent that they can start looking for customers. However, we want to make sure they get the best out of themselves. To measure their strengths and weaknesses for them to work on we use the MyTalentBuilder systematics. After they have a better understanding of their strengths and weaknesses they can use that in their advantage to work on these in ways that it will support the other learning goals.|
After that, the students need to further develop the notion of whom these customers could be. This they will do with experiments, based on the book by Bland and Osterwalder (Testing business ideas: a field guide for rapid experimentation). This concept will be exhaustively discussed, tested, presented and repeated when needed. Pivots in the business idea are expected (common practice, also as seen in similar honours programs at other universities).
The students will also discuss the business idea with potential investors. To be able to do so, the students will learn about negotiation tactics. In order to understand the concepts of valuation and value of their business idea, they will be introduced to the book by Wasserman (The founder’s dilemmas: Anticipating and avoiding the pitfalls that can sink a startup). Experts in the field of negotiation will help out with the teaching of these concepts.
In close consultation with the Novel-T (Mike Verkouter), we will look if there are possibilities for connecting students to a business coach so that they can ask practical questions they face. Also, they can practice the knowledge they gained from literature before going into the field. By default, this will be done during lectures but an outsider’s perspective by expert entrepreneurs is always good to include.