Brief Introduction
Your startup needs to get cash positive as soon as possible – and ultimately, profitable. This is how you get there.
Description
Successful entrepreneurship ultimately comes down to three questions:
- Are you solving a real problem?
- Do you have a superior solution?
- Can you sustainably deliver the solution?
The course series Entrepreneurship 101, 102, and 103 addresses these questions one by one.
Entrepreneurship 103 is your guide to creating a profitable business. So you’ll learn more than just entrepreneurship here. You’ll start becoming a business leader.
We’ll expose you to case studies of MIT startup companies and interviews of their founders. So you’ll learn the vital business skills of:
- Designing a business model;
- Pricing your product;
- Building a sales process;
- Measuring your cost of customer acquisition;
- Estimating the lifetime value of your customer.
Entrepreneurship 103 should be of particular interest to you if you are:
- Creating a business-to-business (B2B) product or service;
- Building a multi-sided marketplace;
- Entering a competitive market.
This course is particularly useful for:
- Corporate entrepreneurs developing new businesses;
- Scientists and engineers commercializing new technologies;
- Creators of complex solutions that necessitate design trade-offs;
- Educators, who teach and coach entrepreneurs;
- Policymakers dedicated to strengthening innovation ecosystems
If you can, take Entrepreneurship 103 as a team, for the course will give you a common framework to make decisions, laying the foundation for your long-term success.
Give you best to this course. In return, you will gain the confidence that you can go from your first sale to a profitable business. And that’s priceless.
This course is a pre-requisite to an attend an MIT Bootcamp.
The course is taught by Bill Aulet, Managing Director of the Martin Trust Center for MIT Entrepreneurship and Erdin Beshimov, Senior Director of MIT BootCampus.
Knowledge
- Understand the Decision-Making Unit
- Navigate the Decision-Making Process
- Develop a Pricing Framework
- Map the Sales Process
- Choose or Design a Business Model
- Measure the Cost of Customer Acquisition
- Estimate the Lifetime Value of Your Customer
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