Which Markets Should You Play In? A Free Online Course for Entrepreneurs and Innovators
Free online course first released on October 3rd, 2017
Click here to enroll
As an entrepreneur or innovator, you are trained to run fast, but…Are you running in the right direction?
Choosing the right market for your innovation is one of the most critical yet challenging decisions for innovators. As we have seen over and over in our studies, entrepreneurs don’t spend enough time assessing their possible market opportunities. They tend to focus on the first opportunity that seems interesting, and fail to evaluate other options and unleash their true potential and power. As a result, they might choose the wrong market for their business to “play in”, or simply lock their company into one specific direction.
In this course, you will learn how to discover which markets are most valuable for your business and how to set your focusing strategy properly using the Market Opportunity Navigator. This business tool provides a clear framework to help you identify, evaluate, and strategize your market opportunities through three simple steps:
- Search broadly – To generate your set of market opportunities
- Assess deeply – To evaluate your options and compare their attractiveness
- Strategize smartly – To focus on the most attractive opportunity while remaining agile
Three dedicated worksheets guide you through the process, and we illustrate it with many examples and case-studies.
The course is given by Prof Marc Gruber, a world leading researcher in entrepreneurship and the Vice President for Innovation at EPFL (Swiss Federal Institute of Technology), along with Dr. Sharon Tal, Co-Founder and former Executive Director of the Entrepreneurship Center at the Technion (Israel Institute of Technology). They developed the Market Opportunity Navigator based on 15 years of rigorous research and hundreds of real-life cases.
Who is this course for?
This hands-on course is valuable for anyone interested in commercializing innovations.
Whether you are already running your startup or only dreaming of establishing one, you will find this practical know-how extremely useful, as it will help you to set your strategic focus from the outset, or set your pivoting strategy whenever required.
The course provides novel insights and creates value for managers in established firms, just as it does for founders of newly created ventures. Whether you are the CEO, VP for Business Development, the Innovation Manager of your firm, or any other role that faces the challenge of finding new growth paths, the course will help you to better position your entrepreneurial endeavors for success! Enroll today to receive valuable business advice for your startup or for your next venture.
Overall, the Market Opportunity Navigator is an important tool that you should add to your management toolbox and turn to whenever you need to design or redesign your strategy.
Course Structure and Content
The course includes over 50 video clips, organized in 5 modules and spread across 5 weeks of learning:
Week 1 – Introduction
Presenting the challenges of choosing which markets to play in and the underlying logic behind the Market Opportunity Navigator
Week 2 – How to Generate Your Market Opportunity Set
Presenting the first step of the Market Opportunity Navigator: Using Worksheet 1, you will learn how to decouple your core abilities to identify different applications and different types of customers that need them. The output is your Market Opportunity Set.
Week 3 – How to Evaluate Your Market Opportunities
Presenting the second step of the Market Opportunity Navigator: Using Worksheet 2, you will learn how to evaluate the attractiveness of each market opportunity by estimating its potential and the challenge in capturing it. The output is your Attractiveness Map.
Week 4 – How to Design Your Agile Focus Strategy
Presenting the third step of the Market Opportunity Navigator: Using Worksheet 3, you will learn how to design a smart portfolio of Backup and Growth Options around your Primary Market Opportunity. The output is your Agile Focus Strategy.
Week 5 – Implications and benefits
Understand the implications of the Agile Focus Strategy on your venture, and how to benefit from applying the Market Opportunity Navigator over time in concert with other well-known business tools (including the Lean Startup and the Business Model Canvas).
Overall, expect to invest between 1-2 hours per week to get the most out of this learning journey.
What will you achieve with this course?
At the end of this course, you will be able to:
– Discover multiple market opportunities stemming from your core strengths
– Evaluate the attractiveness of your opportunities in a comprehensive and unbiased manner
– Make an informed choice on which markets to play in, in order to increase your chances of success
– Balance focus and flexibility, two very critical aspects that often contradict one another
– Develop an open mindset and nourish your receptiveness to change and adaptation
– Facilitate team discussions and debates on this all-important strategic choice
How to register?
The course is run on edX.
Registration is free of charge!
You can find more information and enroll here.