What Does MVP Stand For? It’s Not What You Think.
October 7, 2024
Article
This course is part of Entrepreneurship: Growing Your Business Specialization
Instructor: Alex Cowan
13,656 already enrolled
(295 reviews)
Recommended experience
Beginner level
Some experience with business development and innovation is helpful, but not required.
(295 reviews)
Recommended experience
Beginner level
Some experience with business development and innovation is helpful, but not required.
How to create an explicit view of a company or product strategy in 20 minutes (with a little practice!)
How to apply innovation tools from the worlds of design thinking and Lean Startup to your business model design
How to use the Canvas to organize ideas and have better discussions by driving to specifics and linkages between key business drivers
How to apply a test-driven approach to business model innovation
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Have you ever gotten really excited about reading or writing a business plan? You might have started out excited, but I’m going to bet you didn’t stay that way. Let’s be honest- business plans are boring and mostly ignored.
The beauty of the one-page Business Model Canvas is that it drives meaningful focus. It helps us organize our ideas and have better discussions by forcing specificity and bringing linkages between key business drivers to the foreground. Innovation requires one hand being very focused on a fundamental need or problem while the other hand quickly tests different solutions. For this, the Business Model Canvas is very innovation friendly: It's a lot easier to tweak the model and try things with something that's sitting on a single page In this course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, you’ll learn key tools from the worlds of design thinking and Lean Startup to approach the Canvas with thoughtfulness, focus, and above all a test-driven approach to business model innovation.
How do you avoid the distractions that keep companies from innovating their way to organic growth? The best recipe is a hyper focus on finding product/market fit and scaling it. Fortunately, the Canvas is a great way to create that focus. We’ll start the course by looking at the jobs you do for customers and how your particular propositions drive revenue. We’ll also look at how you link those with focused customer journeys to keep these customer-centric linkages healthy and growing.
18 videos1 reading1 assignment2 discussion prompts
How do you develop the team(s) and capabilities you need to find your next big thing? And then scale it before your competition catches up? This week, you’ll learn how to focus your capabilities and assets on delivering to the customer. In particular, we’ll look at three core business model types which have distinct implications for where you should focus your organization with regard to Key Activities, Key Resources, and Key Partners.
10 videos1 assignment1 discussion prompt
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A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
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Reviewed on Nov 9, 2024
Useful course for entrepreneurs and investors, and those working in innovative startups.
Reviewed on Aug 29, 2019
It was incredible. But a main thing which i took was corporate canvas. Thank you, Alex!
Reviewed on Apr 25, 2021
Great for everyone looking to start and grow a modern business! So many nuggets of wisdom, advice and practical activities for you to do to ensure maximum chances of success
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