Informações sobre o curso
Who? If you’re an entrepreneur at any stage of your journey, or even an aspiring one, and you need money to start or grow your business, this course is for you. What? This course will introduce, and help you put to use in your startup, the five models through which your customers can – and will, if you ask them! – fund your business. These five time-tested models have been put to use by entrepreneurial superstars like Michael Dell, Bill Gates, Richard Branson and more. Sadly, though, the five models are rarely talked about and not widely understood. Until now! The five models will be brought to life by the real-world stories of an inspiring collection of incredibly creative entrepreneurs from around the world – including successes and failures – through a series of captivating no-holds-barred interviews with founders and others, and investors, too. Why? More than two generations ago, the venture capital community – VC’s, business angels, incubators, and others – convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor. They did so for very good reasons: the sometimes astonishing returns they’ve delivered to their investors and the incredibly large and valuable companies their ecosystem has created. But the vast majority of fast growing companies never take any angel or venture funding. Are they onto something that most of today’s entrepreneurial ecosystem has missed? Indeed, should a business angel or VC be seen as the first port of call for getting your nascent entrepreneurial venture off the ground or growing it faster? Perhaps not. How? You’ll be asked to do a series of exercises – out in the real world – to put your growing toolkit to use in your business or the one you hope to start. Hands-on, practical tools to help your business start and thrive – without venture capital. You’ll join our discussion board of fellow participants, if you like, and learn from others who are putting the tools to work, just as you are. And to suit today’s fast-paced lifestyles, we’ve broken what you’ll get – short lessons, interviews, thought-provoking questions, even some optional things to read – into bite-sized chunks, so you can log in and grab them whenever and wherever you are. And what else? If, after checking out and perhaps completing this course, you find your company in a position where seeking venture capital turns out to be the right thing to do next, John Mullins leads an inspiring and hands-on executive education course at London Business School – this one face-to-face – called Financing the Entrepreneurial Business. There, among a room full of investors and entrepreneurs, you’ll study a series of captivating real-world cases and learn everything an entrepreneur – or an investor, for that matter – needs to know to handle the person who sits across the deal table and take an entrepreneurial business from start-up to exit. See https://www.london.edu/education-and-development/executive-education/topic/finance/financing-the-entrepreneurial-business#.WIVY_FyTQ-0 for info.
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curso 100% online

Comece imediatamente e aprenda em seu próprio cronograma.
Beginner Level

Nível iniciante

Clock

Aprox. 21 horas restantes

Sugerido: 7 weeks of study, 5-6 hours/week
Comment Dots

English

Legendas: English
Globe

curso 100% online

Comece imediatamente e aprenda em seu próprio cronograma.
Beginner Level

Nível iniciante

Clock

Aprox. 21 horas restantes

Sugerido: 7 weeks of study, 5-6 hours/week
Comment Dots

English

Legendas: English

Syllabus - What you will learn from this course

1

Section
Clock
1 hour to complete

Introduction: Why this course?

A widely-held notion in entrepreneurial circles is that the way to start and grow a thriving business is to come up with a great “idea”, write a great business plan, raise capital from angels or VCs, flawlessly execute the plan, and (Voila!) get rich! But it hardly ever happens that way. In fact, the vast majority of fast-growing companies never raise any venture capital. How do they do it, and how can you do it? This MOOC holds the answer. So let's get going! ...
Reading
1 video (Total 5 min), 5 readings
Video1 videos
Reading5 readings
0.2 Glossary10m
0.3 Course outcomes10m
0.4 Assignment before starting Module 110m
0.5 Get-to-know-each-other survey10m
0.6 Getting to know you survey responses10m
Clock
5 hours to complete

Module 1: Why taking venture capital is a bad idea

Welcome to Module 1! As you can see by the title of this first module, I hope to convince you in this chunk of the course that seeking (and taking) money from an angel or VC investor, at least early in the life of your venture, is an exceedingly bad idea. Here we go!...
Reading
13 videos (Total 109 min), 1 reading, 1 quiz
Video13 videos
1.2 Introduction to Module 1, Part 2: John Mullins4m
1.3 A customer-funded success story - Thomas Knobel9m
1.4 A Silicon Valley perspective - Interview with Sramana Mitra, Part 1. Sramana Mitra on bootstrapping; on why many great companies are not VC backable; on how to go to VCs as kings, not as beggars; and more.8m
1.5 A Silicon Valley perspective - Interview with Sramana Mitra, Part 28m
1.6 A Silicon Valley perspective - Interview with Sramana Mitra, Part 39m
1.7 A growth guru's perspective - Interview with Verne Harnish, Part 1. Verne Harnish on managing cash; on scaling up; on creating rhythm in your business; and more.9m
1.8 A growth guru's perspective - Interview with Verne Harnish, Part 29m
1.9 A venture capitalist's perspective - Interview with Bruce Golden, Part 1. Bruce Golden on why capital efficiency matters; on controlling your destiny; on unicorns; and more.10m
1.10 A venture capitalist's perspective - Interview with Bruce Golden, Part 28m
1.11 A venture capitalist's perspective - Interview with Bruce Golden, Part 39m
1.12 A venture capitalist's perspective - Interview with Bruce Golden, Part 45m
1.13 Module 1: Wrap-up, lessons learned, and a look ahead: John Mullins7m
Reading1 readings
1.14 Optional reading10m

2

Section
Clock
4 hours to complete

Module 2: Matchmaker models

Welcome to Module 2! In this module we're going to focus on matchmaker models (sometimes called marketplaces - eBay, Airbnb, and Uber and the like) and how you can put them to work in your business. We'll see examples of both successes and failures and, as in Module 1, we'll get several perspectives other than mine, including that of a VC investor who knows this kind of business intimately. Ready? Let's go! ...
Reading
9 videos (Total 77 min), 1 reading, 1 quiz
Video9 videos
2.2 A matchmaker success story - Budgetplaces.com6m
2.3 A matchmaker failure story - ProFounder.6m
2.4 The 'Inside Story' - interview with Amelia Armstrong. A DogVacay dogsitter provides an inside view of life as a supplier to a matchmaker business.10m
2.5 Matchmaking: An entrepreneur's perspective - Interview with Nitzan Yudan, Part 1. Nitzan Yudan on pivoting; on the value of customer-funded traction; on building relationships with investors with lines, not dots; and more.9m
2.6 Matchmaking: An entrepreneur's perspective - Interview with Nitzan Yudan, Part 28m
2.7 Lessons for matchmakers - Interview with Ivan Nikkhoo, Part 1. Ivan Nikkhoo on the Uber phenomenon; on striking the right balance and timing between supply and demand; on choosing VCs; on building a matchmaker model in emerging markets; and more.9m
2.8 Lessons for matchmakers - Interview with Ivan Nikkhoo.8m
2.9 Module 2: Wrap-up, lessons learned, and a look ahead: John Mullins.9m
Reading1 readings
2.10 Optional reading10m

3

Section
Clock
4 hours to complete

Module 3: Pay-in-advance models

Welcome to Module 3! In this module we'll see that taking a problem-solving perspective will be useful as we look at how to put pay-in-advance models to work in your business. You're also going to learn from another failure story, this one in India - from rags to riches and back to rags again - as well as travel to Latin America to get the lay of the land there. And you'll see that social entrepreneurs can use customer-funded models, too, even one tackling a problem as challenging as youth literacy! Here we go! ...
Reading
9 videos (Total 75 min), 1 reading, 1 quiz
Video9 videos
3.2 A pay-in-advance success story - Funovation.6m
3.3 The 'Inside Story': From garage to global leader - Interview with Erick Mueller.9m
3.4 Eric Mueller on entrepreneurial teams; on why pay-in-advance works even for fledgling companies; on how to choose your first customers; and more.7m
3.5 A pay-in-advance failure story - The Loot.10m
3.6 When customer funding is all there is - Interview with Jon Smith. Jon Smith on addressing a real social problem - kids' literacy; on starting with no money; and on raising a first angel round. Part 17m
3.7 Celebrating kids' writing - Jon Smith Part 28m
3.8 Entrepreneurship in Latin America - Interview with Carlos Varela. Carlos Varela on the entrepreneurial landscape in Latin America; on government handouts for entrepreneurs; and more.10m
3.9 Module 3: Wrap-up, lessons learned, and a look ahead: John Mullins.8m
Reading1 readings
3.9 Optional reading10m

4

Section
Clock
4 hours to complete

Module 4: Subscription models

Welcome to Module 4! In this module we'll dig into the economics of subscription models, while exploring the key building blocks that underlie many other kinds of e-commerce models, too. Because subscription models have been, in my view, over-hyped, you're going to hear about a handful of failure stories in this module, along with the story of a fast-growing online wine business that's put a subscription model to work in a novel way. Are you ready for this one? Let's go! John...
Reading
11 videos (Total 84 min), 1 reading, 1 quiz
Video11 videos
4.2 Customer-funding winemakers - NakedWines.com8m
4.3 Building customer-funded SaaS Ventures - Interview with Bill Flagg, Part 1. Bill Flagg on winning your first customer; on identifying and delivering customer value; on earning ROI on new hires; on accelerators; and more.7m
4.4 Customer-Funding SaaS Ventures - Interview with Bill Flagg, Part 2.9m
4.5 Customer-Funding SaaS Ventures - Interview with Bill Flagg, Part 3.7m
4.6 Customer-Funding SaaS Ventures - Interview with Bill Flagg, Part 4.7m
4.7 A VC's perspective - Interview with Hussein Kanji, Part 1. Hussein Kanji on the hard part about SaaS models; on early metrics that matter; on proving scalability; on the trade-off between organic growth and scale; and more.9m
4.8 A VC's perspective - Interview with Hussein Kanji, Part 2.8m
4.9 A VC's perspective - Interview with Hussein Kanji, Part 3.4m
4.10 How not to do it: Lessons from failure.4m
4.11 Module 4: Wrap-up, lessons learned, and a look ahead: John Mullins.8m
Reading1 readings
4.12 Optional reading10m

5

Section
Clock
4 hours to complete

Module 5: Scarcity models

Welcome to Module 5! In this module, we're going to look at the most counter-intuitive of the five models: the scarcity model. You'll get the story of a fashion retailer that's making life difficult for others in its industry, you'll get an extensive advice-laden interview with an entrepreneur who used scarcity to his benefit, and we'll travel to India to explore today's funding environment there. Let's go! ...
Reading
9 videos (Total 73 min), 1 reading, 1 quiz
Video9 videos
5.2 Speed and scarcity wins for Zara.4m
5.3 The hands-on nitty gritty of getting customer funds - interview with Rud Browne, Part 1. Rud Browne on getting customers to pay in advance and buyers to play ball; on managing through a downturn; on advice for entrepreneurs getting started today; and more.6m
5.4 The hands-on nitty gritty of getting customer funds - Interview with Rud Browne, Part 28m
5.5 The hands-on nitty gritty of getting customer funds - Interview with Rud Browne, Part 3.7m
5.6 Easy money in India? - Interview with Ajeet Khurana, Part 1. Ajeet Khurana on 2015's easy money in India: Would it last?; on valuations in India; on mobile-first or mobile-only?; on positive cash flow; and more.9m
5.7 Easy money in India? - Interview with Ajeet Khurana, Part 2.8m
5.8 Easy money in India? - Interview with Ajeet Khurana, Part 3.9m
5.9 Module 5: Wrap-up, lessons learned, and a look ahead.9m
Reading1 readings
5.10 Optional reading10m

6

Section
Clock
3 hours to complete

Module 6: Service-to-product models

Welcome to Module 6! In this module, we're going to hear from an entrepreneur who started with nothing in 2003 and sold his business less than 8 years later for nearly $100 million. We'll also hear from his partner, whose entry into the business midway into its journey raised its sights, and from a growth capital investor who backed the business in its later days without actually putting any capital into the business. Why? The customer-funded business didn't need their money! The three sides of a deal - a very special story that will surely inspire you. Here we go! ...
Reading
8 videos (Total 55 min), 1 reading, 1 quiz
Video8 videos
6.2 A customer funded journey (Part 1) - Interviews with Claus Moseholm, Jimmy Maymann, and Hillel Zidel. Claus (co-founder), Jimmy (CEO mid-journey) and Hillel (investor) on getting started; on raising their aspirations; on growth capital as a funding source; and more.7m
6.3 A customer funded journey (Part 2) - Interview with Jimmy Maymann.9m
6.4 A customer funded journey (Part 3) - Interview with Claus Moseholm.4m
6.5 A customer funded journey (Part 4) - Interviews with Hillel Zidel.5m
6.6 A customer funded journey (Part 5) - Interview with Jimmy Maymann.4m
6.7 A customer funded journey (Part 6) - Interviews with Hillel Zidel.9m
6.8 Module 6: Wrap-up, lessons learned, and a look ahead: John Mullins.7m
Reading1 readings
6.9 Optional reading10m

7

Section
Clock
1 hour to complete

Module 7: Putting a customer-funded model to work in your business

Welcome to Module 7! In this final module we're going to draw the learning of this entire MOOC together and get started on implementing one or more of the five customer-funded models in your business. And you're going to hear an interview with someone who can get you up to speed in understanding customers well enough that you can get to what is called product-market fit - sooner instead of later! Even better, I'm going to tee up some final questions to get you started on what I hope will be a customer-funded journey that takes you wherever you'd like to go. I'm looking forward to wrapping things up and setting you off on your journey! ...
Reading
4 videos (Total 25 min), 1 reading
Video4 videos
7.2 The Mom Test - interview with Rob Fitzpatrick (Part 1)7m
7.3 The Mom Test - interview with Rob Fitzpatrick (Part 2).8m
7.4 Module 7: Wrap-up, lessons learned, and a final look ahead: John Mullins.2m
Reading1 readings
7.5 Optional reading10m
4.7

Top Reviews

By KKMay 13th 2017

It was an amazing opportunity wherein we had a great chance to both learn about various customer funded models through interviews, guest talks and practice them through assignments in parallel

By EHApr 2nd 2018

I can not recommend this course highly enough. It literally has changed my life and is from my perspective a must take for every aspiring entrepreneur and also for those already on the path.

Instructor

Avatar

John Mullins

Associate Professor of Management Practice

About University of London

The University of London is a federal University which includes 18 world leading Colleges. Our distance learning programmes were founded in 1858 and have enriched the lives of thousands of students, delivering high quality University of London degrees wherever our students are across the globe. Our alumni include 7 Nobel Prize winners. Today, we are a global leader in distance and flexible study, offering degree programmes to over 50,000 students in over 180 countries. To find out more about studying for one of our degrees where you are, visit www.london.ac.uk...

About London Business School

London Business School was founded in 1964 and joined the University of London in 1965. London Business School is a leading global business school and is one of the few in the world to have the triple crown accreditation (AACSB, EQUIS, AMBA). The School was ranked the best business school in Europe for three years in a row (2014-2016) by the Financial Times and was ranked second in the world for Business and Management Studies in 2016 by the QS Rankings. The School offers post-graduate degrees and covers seven subject areas – Accounting, Economics, Finance, Management Science and Operations, Marketing, Organisational Behaviour and Strategy and Entrepreneurship. ...

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