Module 4 – The Market: From Idea to Business

Profit in business comes from repeat customers; customers that boast about your product and service, and that bring friends with them. – W. Edwards Deming

Short Description

In Module 3 you learned how to further analyse your existing (social) business ideas in your community by asking the right questions. You have also learned how to come up with community-based entrepreneurial ideas in a creative way by combining your passions and interests with community needs and issues that need solutions.

In Module 4 we will look at how to develop a business model and think of your idea in relation to key components of the market. You will learn how to create a value proposition for your own community-based entrepreneurial idea, how to develop a business model around it and how to focus on what value potential customers get through your product or service using a business model canvas.  

The LEAN startup model will also be introduced and you will learn how to look for the necessary resources for your entrepreneurial ideas such as startup funding, investors or partners. Establishing a communications and marketing strategy and developing effective promotional and sales tools, as well as a network of partners in the community,  will also be part of Module 4. Furthermore, we will cover the importance of finances and how to make and manage a budget for your community-based entrepreneurial idea.

Learning Objectives

• Introduction to the Business Model Canvas (BMC)
• Understand how to deliver products, services and experiences to create value in the eyes of the customer
• Learn about the LEAN startup method and its feedback cycle
• Be able to establish marketing and communications strategies
• Understand and demonstrate effective promotional tactics and sales techniques
• Learn about the importance of finances and how to make a budget
• Know how to acquire the necessary resources for your entrepreneurial idea/project
• Understand how to set up partnerships and develop your network