Start a Business: Your 10-Step Guide
January 7, 2025
Article
Recommended experience
Intermediate level
Familiarity with basic business terms
Recommended experience
Intermediate level
Familiarity with basic business terms
Conduct the analysis of your product-market fit by designing a product that put the customer at the center of your new business idea
Avoid the risk of launching a failed product by validating your assumptions before committing significant resources
Develop insightful learning from your experiment and determine whether to pursue, pivot, or abandon your business imitative
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Only available on desktop
By the end of this guided project, you will be able to use the Minimum Viable Product (MVP) Experience Canvas to test your startup business model assumptions. An MVP is a version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. The MPV Experiment Canvas is a framework that help you determine the desirability, viability, and feasibility of your business idea. The model has 12 building blocks that help you to systematically analyze your idea from defining the targeted customers, to experimenting with the model, and to making strategic decisions with the results of the analysis conducted.
For us to practically demonstrate how to use the Canvas to conduct analysis and validate a business idea, we will analyze a Fintech startup company as a case study. Example of the case study would empower you to apply the model to startup, or any venture of your choice. The project is for entrepreneurs who want to avoid the costly mistake of launching a product that nobody needs. Also, for intrapreneurs and business leader that want to experiment and validate a business idea before making significant investment. At the end of the project, you will be able to use the canvas to determine your product-market fit
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Task 1: Introduction: By the end of this task, you will explain the MPV Experiment Canvas
Task 2: Customers and Value: By the end of this task, you will determine the customer segment, and your value proposition
Task 3: Channels and Engagement: By the end of this task, you will provide the channels to use, and how to engage your customers
Task 4: Assumptions and Experiment: By the end of this task, you will highlight your riskiest assumptions, and the experiment format
Task 5: Workflow and Matrices: By the end of the task, you will design the experiment workflow, and matrices for measurement
Task 6: Success Criteria and Results: By the end of this task, you will determine your success criteria, and the results realized
Task 7: Insights, and Next Step: By the end of this task, you will express your learning insights, and your next step of action
Familiarity with basic business terms
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Skill-based, hands-on learning
Practice new skills by completing job-related tasks.
Expert guidance
Follow along with pre-recorded videos from experts using a unique side-by-side interface.
No downloads or installation required
Access the tools and resources you need in a pre-configured cloud workspace.
Available only on desktop
This Guided Project is designed for laptops or desktop computers with a reliable Internet connection, not mobile devices.
Coursera Project Network
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UNSW Sydney (The University of New South Wales)
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Coursera Project Network
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Coursera Project Network
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