Now you too can take this course.
I’ve worked with the Udacity, the best online digital university on a mission to democratize education, to produce the course. They’ve done an awesome job.
The course includes lecture videos, quizzes and homework assignments. Multiple short video modules make up each 20-30 minute Lecture. Each module is roughly three minutes or less, giving you the chance to learn piece by piece and re-watch short lesson portions with ease. Quizzes are embedded within the lectures and are meant to let you check-in with how completely you are digesting the course information. Once you take a quiz, which could be a multiple-choice quiz or a fill in the blank quiz, you will receive immediate feedback.
Why This Class?
Ten years ago I started thinking about why startups are different from existing companies. I wondered if business plans and 5-year forecasts were the right way to plan a startup. I asked, “Is execution all there is to starting a company?”
Experienced entrepreneurs kept finding that no business plan survived first contact with customers. It dawned on me that the plans were a symptom of a larger problem: we were executing business plans when we should first be searching for business models. We were putting the plan before the planning.
So what would a search process for a business model look like? I read a ton of existing literature and came up with a formal methodology for search I called Customer Development.
That resulted in a new process for Search: Customer Development + traditional product management/Waterfall Engineering. It looked like this:
This meant that the Search for a business model as a process now could come before execution. So I wrote a book about this called the Four Steps to the Epiphany.
And in 2003 the Haas Business School at U.C. Berkeley asked me to teach a class in Customer Development. With Rob Majteles as a co-instructor, I started a tradition of teaching all my classes with venture capitalists as co-instructors.
In 2004 I funded IMVU, a startup by Will Harvey and Eric Ries. As a condition of my investment I insisted Will and Eric take my Customer Development class at Berkeley. Having Eric in the class was the best investment I ever made. Eric’s insight was that traditional product management and Waterfall development should be replaced by Agile Development. He called it the “Lean Startup.”
Meanwhile, I had said startups were “Searching” for a business model, I had been purposefully a bit vague about what exactly a business model looked like. For the last two decades there was no standard definition. That is until Alexander Osterwalder wrote Business Model Generation.
This book was a real breakthrough. Now we understood that the strategy for startups was to first search for a business model and then after you found it, put together an operating plan.
Now we had a definition of what it was startups were searching for. So business model design + customer and agile development is the process that startups use to search for a business model.
And the organization to implement all this was not through traditional sales, marketing and business development groups on day one. Instead the founders need to lead a customer development team.
And then to get things organized Bob Dorf and I wrote a book, The Startup Owners Manual that put all these pieces together.
But then I realized rather than just writing about it, or lecturing on Customer Development, we should have a hands-on experiential class. So my book and Berkeley class turned into the Lean LaunchPad class in the Stanford Engineering school, co-taught with two VC’s – Jon Feiber and Ann Miura-Ko. And we provided dedicated mentors for each team.
Then in the fall of 2011, the National Science Foundation read my blog posts on the Stanford version of the Lean LaunchPad class. They said scientists had already made a career out of hypotheses testing, and the Lean LaunchPad was simply a scientific method for entrepreneurship. They asked if I could adapt the class to teach scientists who want to commercialize their basic research. I modified the class and recruited another great group of VC’s and entrepreneurs – Jim Hornthal, John Burke, Jerry Engel,Bhavik Joshi and Oren Jacob – to teach with me.
We taught the first two classes of 25 teams each, and then in March of 2012 trained faculty from Georgia Tech and the University of Michigan how to teach the class at their universities. Georgia Tech and the University of Michigan faculty then taught 54 teams each in July of this year and will teach another 54 teams in October.
We then added four more schools – Columbia, Caltech, Princeton and Hosei – where our team taught the Lean LaunchPad. We also developed a 5-day version of the class to complement the full semester and quarter versions.
And now we’ve spent weeks in the Udacity studio putting the lecture portion of the Lean LaunchPad class online.
Sign up and find out how to start a company!
Listen to the post here: