Innovation is too often left to chance. The truth, as serial entrepreneur and innovation expert Stephen Wunker reveals, is that there is no “Eureka” moment. In this course, you’ll learn the practical strategies to sharpen your innovation efforts and successfully enter new markets.
Bust the Myths of Innovation and Capture New Markets
Why do venture capital firms have a much higher success rate with innovative ideas than other businesses? You’ll learn the answer in this course. Serial entrepreneur Stephen Wunker has launched successful companies around the globe and he will begin your course by helping you bust some common myths of innovation. Learn why it is critical to fail quickly and cheaply. Find out why it’s a huge mistake to attempt to tie innovation efforts to a single customer.
In the second class, you’ll learn that the most important question you can ask is not “what should we make?” but rather “what jobs are customers trying to do?” Wunker takes you inside the science behind why customers choose a product or service to do a particular job. He also provides outstanding insight into how to determine the criteria for success and potential obstacles an innovative idea might face.
The third class will guide you through plotting strategies to enter new markets. Wunker provides personal stories from his successful entrepreneurial efforts. You’ll learn about the factors that lead to quick adoption of a product. You’ll also discover how to identify whether it’s better to be a early mover or a fast follower in a new market. This class concludes with tips to test your ideas and capture value feedback from potential customers.
The final class will help you with one of the most difficult, misunderstood aspects of entrepreneurship: building a business plan. Wunker will teach you the best risk assessment tips from venture capital to help increase your opportunities for success. This class provides several valuable tools that will put you far ahead of your competition, including reverse financials, scenario planning and the scientific method.
WHAT YOU'LL LEARN
- Why you need to fail quickly and cheaply to succeed.
- How to discover your customers’ job drivers, pain points and criteria for success.
- Methods to test your ideas and gather feedback from your potential customers.
- The best risk assessment tips from venture capital.
- How to use reverse financials to strengthen your business plan.