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Lean launchpad berkeley columbia syllabus rev 7

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    Lean launchpad berkeley columbia syllabus rev 7 Lean launchpad berkeley columbia syllabus rev 7 Document Transcript

    • University of California at Berkeley – Haas School of Business / Columbia Business School ADVANCED ENTREPRENEURSHIPXMBA 296T The Lean LaunchPadLead Instructor: Steve Blank Co-Instructor: Jon Feiber, Jim HornthalClass Format: Lecture and tens of hours of work talking to customersUnits of Credit: 2Required Texts: Steven Blank,Four Steps to the Epiphany http://www.stevenblank.com/books.html Alexander Osterwalder & Yves Pigneur, Business Model Generationhttp://www.businessmodelgeneration.com/order.phpOptional Text Jessica Livingston, Founders at Workhttp://www.amazon.com/gp/product/1590597141This class requires pre-class preparation and lots of out of the classroom work. Readhttp://steveblank.com/category/lean-launchpad/ from the bottom up to get an idea.Prerequisite: interest/passion in discovering how an idea can become a real company. Abilityto work insanely hard in a team environment and take critical feedback dispassionately. Build aproduct and get orders in a semester.Goal: provide anexperiential learning opportunity showing how startups really get built.Course Description:This course provides real world, hands-on learning on what it’s like to actually start a high-techcompany. This class is not about how to write a business plan. It’s not an exercise on how smartyou are in a classroom, or how well you use the research library to size markets. And the endresult is not a PowerPoint slide deck for a VC presentation. And it is most definitely not anincubator where you come to build the “hot-idea” you.This is a practical class – essentially a lab,not a theory or “book” class.Our goal, within the constraints of a classroom and a limitedamount of time, is to create an entrepreneurial experience for you with all of the pressures anddemands of the real world in an early stage start up.You will be getting your hands dirty talking to customers, partners, competitors, as youencounter the chaos and uncertainty of how a startup actually works. You’ll work in teamslearning how to turn a great idea into a great company. You’ll learn how to use a business modelto brainstorm each part of a company and customer development to get out of the classroom toXMBA 296T Syllabus Revision 7 page 1 of 21
    • see whether anyone other than you would want/use your product. Finally, based on thecustomer and market feedback you gathered, you would use agile development to rapidlyiterate your product to build something customers would actually use and buy. Each block willbe new adventure outside the classroom as you test each part of your business model and thenshare the hard earned knowledge with the rest of the class.See http://steveblank.com/category/lean-launchpad/ for a week-by-week narrative of a pastclass.Class CultureStartups communicate much differently than inside a large company. It is dramatically differentfrom a large company culture most of you are familiar with. At times it can feel brusque andimpersonal, but in reality is focused and oriented to create immediate action in time- and cash-constrained environments.We have limited time and we push, challenge, and question you inthe hope you will quickly learn. We will be direct, open, and tough – just like the real world. Wehope you can recognize that these comments aren’t personal, but part of the process.We also expect you to question us, challenge our point of view if you disagree, and engage in areal dialog with the teaching team. This approach may seem harsh or abrupt, but it is all partof our wanting you to learn to challenge yourselves quickly and objectively, and to appreciatethat as entrepreneurs you need to learn and evolve faster than you ever imagined possible.Amount of WorkThis class requires a phenomenal amount of work on your part, certainly compared to many otherclasses. Projects are treated as real start-ups, so the workload will be intense. Teams havereported up to 20 hours of work each per week. Getting out of the classroom is what the effortis about. It’s not about the lectures. You will be spending a significant amount of time inbetween each of the lectures outside your lab talking to customers. If you can’t commit thetime to talk to customers, this class is not for you.This class is a simulation of what startups and entrepreneurship is like in the realworld:chaos, uncertainly, impossible deadlines in insufficient time, conflicting input, etc.This class pushes many people past their comfort zone. Its not about you, but its also notabout the class or the teaching team. This is what startups are like (and the class is just smallpart of what it is really like.) The pace and the uncertainty pick up as the class proceeds.XMBA 296T Syllabus Revision 7 page 2 of 21
    • Team Organization:You will be admitted as a team. Teams must submit a proposal for entrybefore the class begins. Projects must be approved before the class.Proposals can be software, physical product, or service of any kind. The teams will self-organizeand establish individualroles on their own. There are no formal CEO/VP’s. Just the constantparsing and allocating of the tasks that need to be done.Besides the instructors and TA’s, each team will be assigned a mentor (an experiencedentrepreneur or VC) to provide assistance and support.Suggested Projects: While your first instinct may be a web-based startup we suggest that youconsider a subject in which you/a team member are a domain expert. In all cases, you shouldchoose something for which you have passion, enthusiasm, and hopefully some expertise.Teams that select a web-based product will have to build the website for the class. Teams thatselect a physical product must have a bill of material and a prototype.Deliverables:1) if you’re a physical product you must show us a costed bill of materials and a prototype. Ifyou’re a web product you need to build it and have customers using it. Seehttp://steveblank.com/2011/09/22/how-to-build-a-web-startup-lean-launchpad-edition/2) Your weekly blog is an integral part of your deliverables. It’s how we measure your progress(along with your in-class Powerpoint presentations.)XMBA 296T Syllabus Revision 7 page 3 of 21
    • Grading Criteria: this course is team-based and 85% of your grade will come from your teamprogress and final project. The grading criteria are broken down as follows:▪ 15% Individual participation in class. You will be giving feedback to your peers.▪ 40% out-of-the-building progress as measured by blog write-ups each week. Team members must: 1) update business model canvas each block 2) identify which team member did which portion of the work. 3) detailed report on what the team did each week 4) weekly email of team member participation▪ 20% team “lesson learned” summaries (see appendix for format)▪ 25% team final report (see Dec 1st class for format)The teaching team uses a shared Google doc during team presentations each week and has arunning, on-line dialog about team presentation and grade.Receiving Critical Feedback For many of you this is the first time in your professional careers being critiqued and challenged publicly. To a few it may be a culture shock: a respect issue. The comments and critiques provided by the teaching team is probably the kindest feedback you will ever hear in a startup or a boardroom. In our world this is considered constructive input. We want to provide you with an environment that feels safe to learn in. Understand that the teaching team is your biggest fan and cheering for your success. However, startups communicate much differently than inside a large company. We hope you can recognize that these comments aren’t personal, but part of the process. If this is not a style you feel comfortable with, and you cannot hear past what you are interpreting as personal affronts, we strongly suggest that you not apply to this class.XMBA 296T Syllabus Revision 7 page 4 of 21
    • Class RoadmapEach blocks classes are organized around: Student presentations on their “lessons learned” from getting out of the building and iterating or pivoting their business model. Comments and suggestions from other teams, and teaching teams on the lessons learned. A lecture on one of the 9 building blocks of a business model (see diagram below, taken from Business Model Generation). Each team will capture their progression in learning by keeping an on-line journal/blog/wiki. Test Hypotheses: Test Agile • Demand Hypotheses: Development Test Hypotheses: Creation •Problem • Product Test • Customer Hypotheses: • Market Type • User •Channel • Competitive • Payer • (Customer) • (Problem) Customer Development Test Hypotheses: Team • Channel Test Hypotheses: Test Hypotheses: • Size of Opportunity/Market • Pricing Model / Pricing • Validate Business Model“Genius is the ability to make the most mistakes in the shortest amount of time.” Aspiringentrepreneurs need to become fast iterators.XMBA 296T Syllabus Revision 7 page 5 of 21
    • Pre-class PreparationRead: pages 1-51 of Osterwalder’s Business Model Generation. Four Steps to the Epiphany Chapters 1-2 Review the prior class material http://steveblank.com/category/lean-launchpad/Teams: Form teams of 4 Come up with a preliminary company/product ideaIdea Approval By Monday August 29th submit your team project for approval to the teaching teamNO ONE WILL BE ADMITTED TO THE CLASS WITHOUT BEING PART OF A TEAM ANDHAVING AN APPROVED PROJECTXMBA 296T Syllabus Revision 7 page 6 of 21
    • Sept 1st 11:30-noon Speed DatingGet additional quick feedback on your initial team business concept from the teachingteam.Block 1 Sept 1st Intro/Business Model/Customer DevelopmentClass Lecture/Out of the Building Assignment:What’s a business model? What are the 9 parts of a business model? What are hypotheses?What is the Minimum Feature Set? What experiments are needed to run to test business modelhypotheses? What is market size? How to determine whether a business model is worthdoing?Deliverable: Teams in place and projects approved by start of class.Read: Business Model Generation, pp. 118-119, 135-145, skim examples pp. 56-117 Steve Blank, “What’s a Startup? First Principles,” http://steveblank.com/2010/01/25/whats-a-startup-first-principles/ Steve Blank, “Make No Little Plans – Defining the Scalable Startup,” http://steveblank.com/2010/01/04/make-no-little-plans-–-defining-the-scalable- startup/ Steve Blank, “A Startup is Not a Smaller Version of a Large Company”, http://steveblank.com/2010/01/14/a-startup-is-not-a-smaller-version-of-a-large- company/Team Deliverable for tomorrowSept 2nd: Teams to present their first business model canvas hypotheses for each of the 9 parts of the business model. Come up with ways to test: o is a business worth pursuing (market size) o each of the hypotheses Come up with what constitutes a pass/fail signal for the test (e.g. at what point would you say that your hypotheses wasn’t even close to correct)? Find a name for your team. Start your blog/wiki/journalXMBA 296T Syllabus Revision 7 page 7 of 21
    • Block 1 Sept 2nd Testing Value Proposition and Customer SegmentTeam Deliverable for Today: Team presentations 10 minutes each Business Model Canvas hypothesesClass Lecture:Value Proposition:What is your product or service? How does it differ from an idea? Why will people want it?Who’s the competition and how does your customer view these competitive offerings? Where’sthe market? What’s the minimum feature set? What’s the Market Type? What was yourinspiration or impetus? What assumptions drove you to this? What unique insight do you haveinto the market dynamics or into a technological shift that makes this a fresh opportunity?Customer Segment:Who’s the customer? User? Payer? How are they different? How can you reach them? How is abusiness customer different from a consumer?Out of the Building Assignment for Sept 22nd:Customer Segment and Value Proposition: Market Size estimates (TAM, SAM, addressable.) Get out of the building and talk to 10-15 customers face-to-face Follow-up with Survey Monkey (or similar service) to get more data What were your value proposition hypotheses? What did you discover from customers? What were your hypotheses about who your users and customers were? Did you learn anything different? Submit interview notes, present results in class. Update your blog/wiki/journal with progress customers and value prop For web teams: o Get a low-fidelity web site and running. Use a Minimum Viable Product to test the customer problemRead: Business Model Generation, pp. 161-168 and 226-231 Four Steps to the Epiphany, pp. 30-42, 65-72 and 219-223XMBA 296T Syllabus Revision 7 page 8 of 21
    • Block 2 Sept 22nd The ChannelTeam Deliverable for Today: Teams presentations 10 minutes each Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) focus on customer segment and value proposition Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass LectureWhat’s a channel? Direct channels, indirect channels, OEM. Multi-sided markets. B-to-B versusB-to-C channels and sales (business to business versus business to consumer)Block 2 Sept 23rd Customer RelationshipsClass Lecture/Out of the Building Assignment:How do you create end user demand? How does it differ on the web versus other channels?Evangelism vs. existing need or category? General Marketing, Sales Funnel, etcAction:Read: Four Steps to the Epiphany,pp. 52-53, 120-125 and 228-229 Dave McClure, “Startup Metrics for Pirates”, http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-seedcamp-2008- presentationWatch: Mark Pincus, “Quick and Frequent Product Testing and Assessment”,http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2313TeamDeliverable for Oct 13th: For everyone: o Present and explain your marketing campaign. What worked best and why? For web teams: Actually engage in “search engine marketing” (SEM) spend $20 as a team to test customer acquisition cost o Ask your users to take action, such as signing up for a newsletter o use Google Analytics to measure the success of your campaign o change messaging on site during the block to get costs lower, team that gets lowest delta costs wins. o Track where your visitors are coming from (marketing campaign, search engine, etc) and how their behavior differs. What were your hypotheses about your web site results? oXMBA 296T Syllabus Revision 7 page 9 of 21
    • If you’re assuming virality of your product, you will need to show viral propagation of your product and the improvement of your viral coefficient over several experiments. o Submit web data or customer interview notes, present results in class. o Did anything change about Value Proposition or Customers/Users? o What is your assumed customer lifetime value? Are there any proxy companies that would suggest that this is a reasonable number? For non-web teams: o Get Bill of Materials Costed, Get prototype demo working o build demand creation budget and forecast. o Interview 10-15 people in your channel (salesmen, OEM’s, etc.). o Did anything change about Value Proposition or Customers/Users? o What is your customer lifetime value? Channel incentives – does your product or proposition extend or replace existing revenue for the channel? o What is the “cost” of your channel, and it’s efficiency vs. your selling price. Everyone: Update your blog/wiki/journal. o What kind of initial feedback did you receive from your users? o What are the entry barriers? Submit interview notes, present results in class.XMBA 296T Syllabus Revision 7 page 10 of 21
    • Block 3 Oct 13th The Revenue ModelTeam Deliverable: Teams presentations 15 minutes each Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) focus on Channel and Customer Relationships Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture/Out of the Building Assignment:What’s a revenue model? What types of revenue streams are there? How does it differ on theweb versus other channels? What’s a multi-sided market? How does it effect revenue models?Action: What’s your revenue model? How will you package your product into various offerings if you have more than one? How will you price the offerings? What are the key financials metrics for your business model? Test pricing in front of 100 customers on the web, 10-15 customers non-web. What are the risks involved? What are your competitors doing?Block 3 Oct 14th Key Resources &Key ActivitiesClass Lecture/Out of the Building Assignment:What resources do you need to build this business? How many people? What kind? Anyhardware or software you need to buy? Any IP you need to license? How much money do youneed to raise? When? Why? Importance of cash flows? When do you get paid vs. when do youpay others?Deliverable for Nov 11th : Assemble an income statement for the your business model. Lifetime value calculation for customers. Draw the diagram of payment flows Did anything change about Value Proposition or Customers/Users, Channel, Demand Creation, Revenue Model? Assemble a resources assumptions spreadsheet. Include people, hardware, software, prototypes, financing, etc. Access to resources. What is the best place for your business? Where is your cash flow break-even point? Submit interview notes, present results in class. Update your blog/wiki/journalXMBA 296T Syllabus Revision 7 page 11 of 21
    • Block 4 in New York Nov 11th Cost StructureTeam Deliverable for Today: Teams presentations 15 minutes each Update Business Model Canvas (show original, then show what you changed in new slide with changes in Red.) Focus on revenue model, resources and activities Here’s What we Thought So Here’s What we Did So Here’s What we Found So Here’s What we Are Going to DoClass Lecture:Action: What’s your expense model? What are the key financials metrics for costs in your business model? Costs vs. ramp vs. product iteration?Block 4 in New York Nov 12th Fund RaisingClass Lecture/Out of the Building Assignment:Raising Money and company building. Friends and family, Seed rounds, Series A. Scalableversus buyable startups. Web versus physical products.Deliverable for December 1st Prepare 30 –minute Team Lessons Learned Presentation Read: Final presentation format document (on class web site. o Steve Blank, “Lessons Learned – A New Type of Venture Capital Pitch”, http://steveblank.com/2009/11/12/“lessons-learned”-–-a-new-type-of-vc-pitch/ o Steve Blank, “Raising Money Using Customer Development”, http://steveblank.com/2009/11/05/raising-money-with-customer-development/ o Business Model Generation,pp. 216-224XMBA 296T Syllabus Revision 7 page 12 of 21
    • Block 5 Dec 1stTeam Presentations of Lessons Learned (class starts at noon) Dec 2ndTeam Presentations of Lessons Learned (in Pescadero)Deliverable: Each team will present a 30 minute “Lessons Learned” presentation about theirbusiness.Slide 1 – Team Name, with a few lines of what you initial idea was and the size of theopportunitySlide 2 – Team members – name, background, expertise and your role for the teamSlide 3 - Business Model Canvas Version 1 (use the Osterwalder Canvas do not make up yourown).Here was our original idea.Slide 4 - So here’s what we did (explain how you got out of the building)Slide 5 – So here’s what we found (what was reality) so then, …Slide 6 - Business Model Canvas Version 2 (use the Osterwalder Canvas do not make up yourown).We iterated or pivoted… explain why and what you found.Slide 7 - So here’s what we did (explain how you got out of the building)Slide 8 – So here’s what we found (what was reality) so then,Slide 9 - Business Model Canvas Version 3 (use the Osterwalder Canvas do not make up yourown).We iterated or pivoted… explain why and what you found.Etc. ,,, Every presentation requiresat least three Business Model Canvas slides.Side n – “So here’s where we ended up.” Talk about: 1. what did you learn 2. whether you think this a viable business, 3. whether you want to purse it after the class, etc.Final Slides – Click through each one of your business model canvas slides.XMBA 296T Syllabus Revision 7 page 13 of 21
    • Welcome to XMBA 296TThis course provides real world, hands-on learning on what it’s like to actually start a high-techcompany. This class is not about how to write a business plan. It’s not an exercise on how smartyou are in a classroom, or how well you use the research library to size markets. And the endresult is not a PowerPoint slide deck for a VC presentation. Instead you will be getting yourhands dirty talking to customers, partners, competitors, as you encounter the chaos anduncertain of how a startup actually works. You’ll work in teams learning how to turn a greatidea into a great company. You’ll learn how to use a business model to brainstorm each part of acompany and customer development to get out of the classroom to see whether anyone otherthan you would want/use your product. Finally, you’ll see how agile development can help yourapidly iterate your product to build something customers will use and buy. Each week will benew adventure outside the classroom as you test each part of your business model and thenshare the hard earned knowledge with the rest of the class.The instructors, entrepreneurs and venture capitalists with decades of experience in buildingand funding startups, teach you how to be efficient with your time, and others money. Theclass must be taken for credit.Students▪ Each team must have 4 Berkeley/Columbia students.▪ Non graduates and non students can serve as extra members of the teams but our priority is providing a learning environment for Berkeley/Columbia students.▪ Exceptions for team size and external members will be made on a case-by-case basis. Note your special team needs on your application form. We will let you know on Day one of the class.▪ You must take the course for credit. You may not audit XMBA 296T.▪ This is very intense class with a very high workload.▪ You cannot miss the first class.Company IdeasWhat Kind of Startups Can We Do for the Class?Short answer - high potential, scalable startups with a bold vision.Startups come in all flavors:• Small Business Startups - provide employment for you, family, friends. Example, retail store or website, consulting, single product website. Funding through friends, family, bank loansXMBA 296T Syllabus Revision 7 page 14 of 21
    • • Scalable Startups - Can grow to $100s of millions of dollars/year. May require $10s of millions of venture funding for scale. Can return venture-scale returns 10 -100x• Buyable Startups - Can grow to $10s of millions of dollars/year. Typically a web/mobile app. Funded by angels with $100s of thousands . Happy to flip it to Facebook/Google, et al for 2-10x investment• Social Entrepreneurship Startups - either a new type of NGO or a for profit with a social brand (i.e. 7th generation)• Corporate Disruptive Innovation - the type Clayton Christenson wrote about in the The Innovators DilemmaFor the purpose of the class we are going to accept teams doing scalable or buyable startups.You need to ask yourself "can this scale past a nice business that supports me and my family?"Do They Have to Be Technology Startups?No. But they have to be able to pass the "can this massively scale" test.Can They be Web/Mobile Startups?Yes, but remember you need to get the site and/or app built, up and running, and havecustomers using it by the end of the class.If Its a Hardware Idea to I Have to Build It?At a minimum you need:1) a costed bill of materials2) proof that it is buildable (its your research or someone elses technology, etc.)Team Formation Do I need to be part of a team before I enroll in class? Yes. If you have a partial/complete team you are welcome to apply for enrollment. However, we do not guarantee all members will be admitted. Do I need to have a business idea to enroll in XMBA 296T? Yes. How do teams form? Will I be assigned to a team? We do not assign members to teams. You need to find potential team members. How many people compose a team? FOUR unless (rare) exception is applied for and approved in advance.Attendance and Participation▪ You cannot miss the first class▪ If you anticipate missing more than one class, we recommend that you take another course and wait on this one. More than one unexcused absence may result in a full letter grade penalty.▪ If you expect to miss a class, please let the TA’s and your team members know ahead of timeXMBA 296T Syllabus Revision 7 page 15 of 21
    • via email.▪ We cold call. However we don’t want to embarrass you -- if you are not prepared, let one of us know before class and we will not call on you.▪ We expect your attention. If you’re getting bored, tired or inattentive step outside for some air. If we see reading email or browsing the web we will ask you to leave the class.▪ We start and end on time. TA’s take attendance in the first five minutes of the class. Do not take this class if you are habitually late!▪ We ask that you use a name card during every session of the quarter.XMBA 296T Syllabus Revision 7 page 16 of 21
    • Help! What kind of support will our team have? The teaching team consists of three professors, two TA’s. In addition each team will be assigned a “Mentor.” A mentor is an experienced entrepreneur or venture capitalist assigned to your team. They’ve volunteered to help with the class and your team because they love startups.Their job is to guide you as you get out of the building. How often can we/should we meet with our mentors? Your mentor is expecting to meet with you at least every three weeks face-to-face. You can email them or meet with them more often as they have time for. Can I talk to a mentor not assigned to my team? By all means, do so. All the mentors are happy to help. However they cannot support your team full time unless your mentor decides to swap places with them. I have a busy schedule and my mentor can’t meet when I want them to. Mentors have day jobs. Asking them to meet or reply to you ASAP is not acceptable. So plan ahead to allow for a reasonable amount of time for a reply or meeting. Be concise with your request and be respectful of their time. I need help now. You first stop are your TA’s. Email or sit down with them during the block if you have a problem. Your professors have office hours TBD. If you need something resolved sooner, email us. Who are the Mentors? See the mentor list at the end of this document and on the class website.Team Dynamics What roles are in each team? Traditionally, each team member is part of the “customer development team”.You have to figure out how to allocate the work. What if my team becomes dysfunctional? Prepare to work through difficult issues. If the situation continues, approach the teaching team. Do not wait until the end of the semesterto raise the issue. What if one of my teammates is not "pulling his/her weight"? Try to resolve it within your team. If the situation continueslonger than a week, please approach the teaching team. Final grades will also reflect individual participation and contribution.GradingXMBA 296T Syllabus Revision 7 page 17 of 21
    • How do you determine our grade?▪ 15% Individual participation in class. You will be giving feedback to your peers.▪ 40% out-of-the-building progress as measured by blog write-ups each week. Team members must: 1) update business model canvas weekly 2) identify which team member did which portion of the work. 3) detailed report on what the team did each week 4) weekly email of team member participation▪ 20% team weekly “lesson learned” summaries (see appendix for format)▪ 25% team final report (see Dec 1st class for format)▪ Does everyone in the team get the same grade? No. Individual participation and contribution is also considered. You get to grade your team members on their contribution. What kind of feedback can I expect? Continual feedback as you blog your progress. Substandard quality work will be immediately brought to your attention. Can I take this class Pass/NoCredit? No. Letter grade only.Intellectual Property Who owns the intellectual property tested in the Business Model? 1. Youown what Intellectual Property (patents, hardware, algorithms, etc.) you brought to class with you. No one has claim to anything you brought to class. 2. You all own any intellectual property developed for the class (such as code for a web- based project) developed during class – regardless of which team member developed it. If a team is working with a Berkeley or Columbia related-technology (i.e. either research from one of the team members or a Berkeley or Columbia patent), you must check with the appropriate Technology & Licensing (OTL) offices to better understand any licensing and royalties issues. 3. However, you and your team members need to disclose to each other what IP/Licensing rights your company has to inventions you make at school. 4. If any of you decide to start a company based on the class, you own only what was written and completed in the class. You have no claim for work done before or after the class quarter. 5. If a subset of the team decides to start a company they do NOT “owe” anything to any other team members for work done in and during the class. All team members are free toXMBA 296T Syllabus Revision 7 page 18 of 21
    • start the same company, without permission of the others. (We would hope that a modicum of common sense and fairness would apply.) I feel my idea / Business Model may become a real company and the "next killer app" and I want to own it myself - what should I do? This is more than likely the wrong class to take. Your slides, notes and findings will be publically shared. Your team owns everything done in class. Discuss Intellectual Property rights with your team from the beginning. If you can’t come to agreement with the team, join another team, pick another project, or drop the class. Remember anything you do and learn in the class is public. Will my Intellectual Property rights (or my company’s) be protected when I discuss my ideas with the class? NO. This is an open class. There are no non-disclosures. All your presentations and Customer Discovery and Validation notes, business model canvas, blogs and slides can, and more likely will, be made public. This class is not an incubator. At times you will learn by seeing how previous classes solved the same class of problem by looking at their slides, notes and blogs. Keep in mind that successful companies are less about the original idea and more about the learning, discovery and execution. (That’s the purpose of this class.) Therefore you must be prepared to share your ideas openly with the class. It is a forum for you to "bounce" your ideas off your peers. I’m not comfortable sharing what I learn with others what should I do? Don’t take this class.XMBA 296T Syllabus Revision 7 page 19 of 21
    • XMBA 296TApplication FormThis application is how we choose the students who make it into the class. We’reinterested in your background and why you want to take the class.Who are you? 1. First Name, Last Name 2. Student ID Number 3. Email Address 4. Phone NumberWhat are you studying? 1. Undergraduate School, Major and Graduation Year 2. Current Work Experience 3. Prior Work Experience? 4. What unique talent or expertise do you bring to the class?Why This Class? 1. How did you hear about this course? 2. Why do want to take this class?Team/Company Idea? 1. Do you have a pre-formed team? 2. If so, who are the members, and what’s the idea? 3. List two business ideas you’d like to work on during this class. Be as specific as you can. (First Idea) 4. Second IdeaWhy You?If there was one spot left in the class and we were choosing between you and anotherapplicant, tell us why you should be the person in the class.XMBA 296T Syllabus Revision 7 page 20 of 21
    • Mentor List (as of July 4th 2011)• TBDXMBA 296T Syllabus Revision 7 page 21 of 21