Course: New Venture Creation Course: 3340 CRN: 20805 Instructor: Sylvia Robles de Viera, PhD Period: Fall 2015 Location: Main 1.508 E-mail: sylvia.roblesdeviera@utrgv.edu Phone: W (956) 882-8992 Class Day/Time: M 5:55-7:10 PM Office Location: Main 2.424 T Location: Main 1.524 Office Hours: T 3:00-4:00 pm / W 11:00-12:30 pm / Th 10:00-11:30 pm & 3:00-4:00 pm 7:20-8:30 PM COURSE DESCRIPTION AND LEARNING OBJECTIVES This course is an experience in entrepreneurial thinking and new venture creation. This course teaches productive thinking, idea generation and evaluation, finalcial analysis, and personal selling through two interactive semester-star up Project using the Business Model Canvas which provides the key steps needed to build a successful startup. The main idea in this course is learning how to rapidly develop and test ideas by gathering massive amounts of customer and Marketplace feedback. Many starups fail by not validating their ideas early on with real-life customers. In order to mitigate that, students will learn how to get out of the building and search for the real pain points and unmet needs of customers. Only with thsse can the entrepreneur find a proper solution and establish a suitable business model. You will learn the business skills it takes to bring your idea from conception to market. These learning outcomes include: Actively listening and engaging your customers to find out what exactly they want in your product and how you should deliver it to them Gathering, evaluating and using customer feedback to make your product, marketing, and business model stronger Engaging your customers through the three phases of the customer relationship management lifecycle: get, keep, and grow Identifying key resources, partners, activities, and distribution channels required to deliver your product to your customer Calculating your direct and indirect costs for delivering your product TEXT BOOK AND/OR RESOURCE MATERIAL Required text Book: Business Model Generation by Osterwalder & Pigneur Class website on Blackboard contains all materials needed for the class except the text book. This includes electronic copies of the business assignments, videos, class PPT presentations, interview templates, quizzes, and lecture notes. COURSE SCHEDULE Date/ Week 31-August 1 Topic, Business Model Canvas and Class Activities Introduction to Business Model Canvas History of the Corporation Startups Are Not Smaller Versions of Large Companies Waterfall Development Customer vs. Product Development Entrepreneurial Education Preparation and Assignment Materials from Blackboard, Textbook or Syllabus Assignments Presentation Syllabus review Email Resumes for team configuration Team configuration Projects selection Classdiscussion Assigned reading H: Read BMG pp. 14-49: The 9 Building Blocks of the Canvas H: Prepare list of customer Business Model and Customer Development Value Proposition 01/02- Sept Customer Segments 1 Revenue Streams Key Resources Customer Development Processes Minimum Viable Product Market Opportunity Analysis 07- Sept 2 Labor Day 08/09- Sept Training on LeanLaunch Central
2 14- Sept 3 15/16- Sept 3 21- Sept 4 22/23- Sept 4 28- Sept 5 29/30- Sept 5 05-Oct 6 06/07-Oct 6 Workshop 1: Customer Discovery and Practice for the real world Patent Review Value Proposition Value Proposition and the Minimum Viable Product Customer Archetype MVP Physical && Web/Mobile Common Mistakes With Value Proposition First Team presentation: Business Model Canvas Hypothesis Customer Segments Product Market Fit Rank and Day in the Life Multiple Customer Segments Market Types Introduction: Existing, Resegmented, New, Clone Consequences of Not Understanding a Market Second Team presentation: Value Proposition Channels Distribution Channels Overview Web Distribution Physical Distribution Direct Channel Fit Indirect Channel Economics OEM Channel Economics Third Team presentation: Customer Segments Customer Relationships Paid Demand Creation Earned Demand Creation Get Physical Viral Loop Web Customer Acquisition Costs FourthTeam presentation: Channels Teams integration and business ideas projects Business Canvas exercise H: Read BMG, pp. 77-107: Multisided & Freemium Markets; pp. 127-133: Customer Insights H:Watch the lessons1, 1.5 and 2 /prepare discussion questions H:Take Lesson # Quizz H:Talk to 10-15 customers H:Preparation of 1 st team presentation (10-minute Lessons Learned) Watch: Customer Discovery Checklist: Watch: How do Customer Discovery Listening to comments and suggestions from the teaching team on the H: Read BMG pp. 134-145: Ideation; 161-169: Prototyping; and pp. 200-211: Business Model Environment H:Watch Lesson 3 : Customer Segments H:Take Lesson # Quizz H:Talk to 10-15 customers. H:Preparation of 2 nd team presentation (15-minute Lessons Learned) H: Read BMG pp. 147-159: Visual Thinking H:Watch Lesson 4: Channels H: Select a channel of distribution and list 3 strong benefits and 3 strong challenges (or detriments). Are you inclined to use that channel? Why? H:Preparation of 3 th team presentation (10-minute Lessons Learned) H: Read BMG pp. H:Watch Lesson 5: Customer Relationship H:Preparation of 4 th team presentation (10-minute Lessons Learned) H: Revenue and Pricing Hypotheses; Verify Business Model; pp. 438-456: Metrics that Matter; and pp. 528: Validate Financial Model H:Watch Lesson 6: Revenue model H: List 5 different possible revenue models for your venture. Which do you prefer? Why?
12 (14)-Oct 7 13/14-Oct 7 Revenue Models How Do You Make Money Revenue Streams and Price Direct and Ancillary Models Common Startup Mistakes Market Types and Pricing Single and Multiple Side Markets Revenue First Companies Market Size and Share FifthTeam presentation: Customer Relationships H:Talking to 10-15 customer H:Preparation of 5 th team presentation (10-minute Lessons Learned) H: Read H:Watch Lesson 7: Key Activities 19-Oct 8 Key Activities Key Activities 20-21 Oct 8 26-Oct 9 27-28 Oct 9 02-Nov 10 03/04-Nov 10 SixthTeam presentation: Revenue Models Key Resources Four Critical Resources Financial Resources Human Resources Qualified Employees and Culture SeventhTeam presentation: Key Activities Cost Structure Costs Structure EigthTeam presentation: Key Resources 09-Nov Partners Partner Definition 11 Partner Resources Partner Types Greatest Strategic Alliance Joint Business Development 10/11-Nov NinethTeam presentation: Cost Structure H:Preparation of 6 th team presentation (10-minute Lessons Learned) H:Watch Lesson 7: Key Resources H:Preparation of 7 th team presentation (10-minute Lessons Learned) H: Read SOM pp. 169-175: Resources; pp. 267-269: Can We Make Money; review again pp. 437-456: Metrics that Matter; and pp. 528: Validate financial Model. H:Watch Lesson 7: Cost structure H:Preparation of 8 th team presentation (10-minute Lessons Learned) H: Read SOM pp. 176-179: Partners; pp. 406-411: Test Partners; and pp. 484: Partners Checklist. H:Watch Lesson 8: Partenrs H:Preparation of 9 th team presentation (10-minute Lessons Learned)
11 H: Read H:Watch Lesson 16-Nov 12 17/18-Nov 12 Intellectual Property Overview TenthTeam presentation:partners 23-25 Nov 13 Thanksgiving 30-Nov 14 Lessons Learned 01/02-Dec 14 Final Team presentations 7-Dec 15 Lessons Learned 08/09-Nov 15 Final Team presentations 16-Dec 16 Final grades 5:45-7:30 PM H:Preparation of 10 th team presentation (10-minute Lessons Learned) H: Read H:Watch Lesson The UTRGV academic calendar can be found at http://my.utrgv.edu at the bottom of the screen, prior to login. Important dates for Fall 2015 include: August 31 Classes Begin September 7 Labor Day Holiday; university closed September 16 Last day to drop a class before it appears on the transcript and counts toward the 6-drop limit. Last day to receive a 100% refund for dropped classes (other policies apply when a student is withdrawing from all classes). November 18 Drop/Withdrawal Deadline; last day for students to drop the course and receive a DR grade. After this date, students will be assigned a letter grade for the course that will count on the GPA. November 26-27 Thanksgiving Holiday; university closed December 10 Study Day; no classes December 11-17 Final Exams (schedule is posted at my.utrgv.edu check your scheduled time and list it on the syllabus) COURSE GRADING ACTIVITY PONDERATION Individual participation: a) quality of the written peer-to-peer comments during class presentations b) attendance at each class 15% c) timely viewing of all videos d) quizz e) a grade from your fellow teams members at the end of the course Out-of-the-building Customer Discovery progress: a) quality of weekly blog write-ups from interviews 40% b) Canvas updates and presentations Team weekly presentation. Team member must: a) State how many interviews were conducted per week b) Present detail on what the team did that week, including changes to Canvas c) Follow the assigined topics to be covered each week as outlined 20% Team final presentation 25% Final 100%
LETTER GRADE EQUIVALENCIES A 4 grade points (90-100) B 3 grade points (80-89.9) C 2 grade points (70-79.9) D 1 grade point (60-69.9) F 0 grade points (Below 60) Incomplete Grades A grade of "I" may be given when students have not completed the required course work within the allotted time of a regular semester or summer session if the instructor determines that the reasons for the work being incomplete are valid and that the grade of "I" is justified. A written agreement between the student and the instructor specifying the work to be made up and the deadline for its accomplishment must be filed in the office of the Department Chair at the time that the "I" is submitted. The work agreed upon must be satisfactorily completed and the "I" changed no later than the end of the next regular (Fall or Spring) semester from the date the "I" was received unless an extension is requested by the instructor, or the grade will automatically be recorded as "F" on the official transcript. A student will not receive a grade of "I" to allow more time to prepare course work in addition to that assigned to the entire class, time to repeat the entire course, or opportunity to raise a grade. Incomplete grades are not issued for student or faculty convenience; they may be issued only in the case of compelling, nonacademic circumstances beyond the student's control. OTHER COURSE INFORMATION Attendance Policy/ Participation Expectations Attendance and participation are mandatory to this class since the majority of the learning hinges on group work done during the class time. Attendance will be taken every class period. Participation is 15% of your course grade. Participation in class includes, but is not limited to: coming to class prepared with the required assignments completed and engaging in thoughtful and reflective class discussion and activities. Completing field based requirements. Participation is assessed daily (see Participation Rubric below). In the event of an absence, please provide advance notice of absences if possible, as well as relevant documentation regarding absences to the instructors as soon as possible following the illness or event that led to an absence. Regardless of whether an absence is excused or unexcused, you are responsible for making up all work that is missed. If the absence is excused the missed work can be made up with no penalty. Excused absences include documented illness, deaths in the immediate family and other documented crises, call to active military duty or jury duty, religious holy days, and official University activities. Accommodations for these excused absences will be made and will do so in a way that does not penalize students who have a valid excuse. Consideration will also be given to students whose dependent children experience serious illness. Please note: Missing more than two classes and having unexcused absences will result in one full letter grade reduction. Violation of the attendance and participation policy will result in a grade reduction of 3 points from the final course grade per unexcused absence after 2 free unexcused absences.
Participation Rubric Points Attendance Preparedness Participation 3 Present and prompt. 2 Arrives within the first 10 minutes of class. 1 More than 10 minutes late to class. 0 Absent from class. Has clearly read the reading assignments prior to class; has reflected upon them and is prepared to discuss them. Have clearly read the reading assignments prior to class, though has not reflected on them or is moderately prepared to discuss them. Has skimmed the reading assignments or has not read them, and is clearly unprepared to discuss them. In small and large group discussions, participates frequently and appropriately. Comments are insightful and contribute positively to the perspectives and ideas of classmates. In small and large group discussions, sometimes participates, and participation is generally appropriate. Comments are sometimes insightful and contribute positively to the discussion. Generally, though not always, respects and listens to the perspectives and ideas of classmates. Does not participate in class discussions, or participation is inappropriate. Comments are offtopic or otherwise do not contribute positively to the class discussion. UTRGV POLICIES STATEMENT UTRGV Policy Statements The UTRGV disability accommodation, mandatory course evaluation statement and sexual harassment statement are required on all syllabi. Additional policy statements are optional, such as those covering attendance, academic integrity, and course drop policies. STUDENTS WITH DISABILITIES: If you have a documented disability (physical, psychological, learning, or other disability which affects your academic performance) and would like to receive academic accommodations, please inform your instructor and contact Student Accessibility Services to schedule an appointment to initiate services. It is recommended that you schedule an appointment with Student Accessibility Services before classes start. However, accommodations can be provided at any time. Brownsville Campus: Student Accessibility Services is located in Cortez Hall Room 129 and can be contacted by phone at (956) 882-7374 (Voice) or via email at accessibility@utrgv.edu. Edinburg Campus: Student Accessibility Services is located in 108 University Center and can be contacted by phone at (956) 665-7005 (Voice), (956) 665-3840 (Fax), or via email at accessibility@utrgv.edu. MANDATORY COURSE EVALUATION PERIOD: Students are required to complete an ONLINE evaluation of this course, accessed through your UTRGV account (http://my.utrgv.edu); you will be contacted through email with further instructions. Online evaluations will be available Nov. 18 Dec. 9, 2015. Students who complete their evaluations will have priority access to their grades. ATTENDANCE: Students are expected to attend all scheduled classes and may be dropped from the course for excessive absences. UTRGV s attendance policy excuses students from attending class if they are participating in officially sponsored university activities, such as athletics; for observance of religious holy days; or for military service. Students should contact the instructor in advance of the excused absence and arrange to make up missed work or examinations. SCHOLASTIC INTEGRITY:
As members of a community dedicated to Honesty, Integrity and Respect, students are reminded that those who engage in scholastic dishonesty are subject to disciplinary penalties, including the possibility of failure in the course and expulsion from the University. Scholastic dishonesty includes but is not limited to: cheating, plagiarism, and collusion; submission for credit of any work or materials that are attributable in whole or in part to another person; taking an examination for another person; any act designed to give unfair advantage to a student; or the attempt to commit such acts. Since scholastic dishonesty harms the individual, all students and the integrity of the University, policies on scholastic dishonesty will be strictly enforced (Board of Regents Rules and Regulations and UTRGV Academic Integrity Guidelines). All scholastic dishonesty incidents will be reported to the Dean of Students. SEXUAL HARASSMENT, DISCRIMINATION, and VIOLENCE: In accordance with UT System regulations, your instructor is a responsible employee for reporting purposes under Title IX regulations and so must report any instance, occurring during a student s time in college, of sexual assault, stalking, dating violence, domestic violence, or sexual harassment about which she/he becomes aware during this course through writing, discussion, or personal disclosure. More information can be found at www.utrgv.edu/equity, including confidential resources available on campus. The faculty and staff of UTRGV actively strive to provide a learning, working, and living environment that promotes personal integrity, civility, and mutual respect in an environment free from sexual misconduct and discrimination. COURSE DROPS: According to UTRGV policy, students may drop any class without penalty earning a grade of DR until the official drop date. Following that date, students must be assigned a letter grade and can no longer drop the class. Students considering dropping the class should be aware of the 3- peat rule and the 6-drop rule so they can recognize how dropped classes may affect their academic success. The 6-drop rule refers to Texas law that dictates that undergraduate students may not drop more than six courses during their undergraduate career. Courses dropped at other Texas public higher education institutions will count toward the six-course drop limit. The 3-peat rule refers to additional fees charged to students who take the same class for the third time. General Guidelines 1. This syllabus is tentative and is subject to change anytime. 2. If you have any comments or questions, please use sylvia.roblesdeviera@utrgv.edu 3. Please include in all your mails the course number 3340-01 as well as your full name. 4. Please identify all your assigments properly, name, ID number and email. 5. If in the course of the Semester period you change your name please notify your instructor. 6. Additional information will be provided through the semester. 7. You will obtain extra 5 points by completing the Syllabus Quiz 0 located under the Weekly Modules in Blackboard