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| + | = Market Research for IT Startups = |
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| − | = CEO Toolkit: Strategy, Operations, Finance, HR, Legal Aspects, IP Law and Innovations = |
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| − | * '''Course name''': |
+ | * '''Course name''': Market Research for IT Startups |
* '''Code discipline''': |
* '''Code discipline''': |
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| − | * '''Subject area''': |
+ | * '''Subject area''': Technological Entrepreneurship |
== Short Description == |
== Short Description == |
||
| + | This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality |
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| − | The course is made to give a brief knowledge and skills in practical running a company in an actual environment. It is about practical management for a CEO, starting from team building, product and project management, registering a company and running it to managing growth and exiting a business by the end. |
||
| − | The course helps to understand the whole process and systematize other management and marketing topics. It would be helpful for startup founder, CEO or manager to better plan practical activities and lower the risks of running a company. |
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| − | The course is based on the principles of project-based learning and connecting theory and practice. Based on these principles, the course uses lectures to a lesser extent, more practice followed by group and individual work, as well as discussions, analysis of business cases and learning by doing. |
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== Prerequisites == |
== Prerequisites == |
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=== Prerequisite subjects === |
=== Prerequisite subjects === |
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| − | * |
+ | * N/A |
=== Prerequisite topics === |
=== Prerequisite topics === |
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| + | * N/A |
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| − | * Corporate legal support, taxation |
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| − | * History of management |
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| − | * Strategic management |
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| − | * Operational management |
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| − | * Financial planning |
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| − | * Marketing-management |
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| − | * Team building and HR |
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| − | * Innovations |
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| − | * Intellectual property |
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== Course Topics == |
== Course Topics == |
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| Line 32: | Line 22: | ||
! Section !! Topics within the section |
! Section !! Topics within the section |
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|- |
|- |
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| + | | Ideation tools || |
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| − | | Corporate legal support, taxation || |
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| + | # Art VS Creativity |
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| − | # Legal entity types and differences |
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| + | # Ability to discover |
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| − | # Fundamentals of taxation for small businesses in Russia |
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| + | # How to generate ideas |
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| − | # Possibilities of international jurisdictions |
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| + | # Creativity sources |
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| − | # Legal support of transactions with a client: competent document management |
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| + | # Ideation in groups |
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| + | # Rules for ideation for startups |
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|- |
|- |
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| + | | Market research content || |
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| − | | Introduction to management and marketing as a sphere of knowledge, skills and art || |
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| + | # Types of research: primary vs secondary |
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| − | # What is management and its functions |
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| + | # How to plan a research |
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| − | # History of management and marketing as a practical knowledge and science |
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| + | # Market research chapters content |
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| + | # Frameworks used in a market research (SWOT, Persona, etc) |
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| + | # Tools and sources to conduct a competitors analysis |
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|- |
|- |
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| − | | |
+ | | Customer development || |
| + | # Interviews are the main tool for “Get Out The Building” technique |
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| − | # Organisation types |
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| + | # The "Mum's Test" |
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| − | # Life-cycle of an organization |
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| + | # Jobs-To-Be-Done |
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| − | # Strategic management concepts and frameworks |
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| + | # Good and bad interview questions |
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| − | # Strategic planning |
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| − | # Strategic management as a function of management |
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|- |
|- |
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| − | | |
+ | | Market sizing || |
| + | # Market analysis VS market sizing |
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| − | # Leader types and management styles |
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| + | # Sizing stakeholders and their interests |
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| − | # Stages of development of the organization |
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| + | # Sizing methods |
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| − | # Differences between a startup model and a small business |
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| + | # TAM SAM SOM calculation examples |
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| − | # Choice of operational strategy |
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| − | # Value Management |
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| − | # Project management |
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| − | # Operational planning |
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| − | # Operational control and optimization of business processes |
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| − | # Communications in operational management |
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|- |
|- |
||
| − | | |
+ | | Data for a research || |
| + | # Sources and tools for competitors overview |
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| − | # Financial accounting, management and planning, accounting tools |
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| + | # Sources and tools for product and traffic analysis |
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| − | # Required financial statements for a startup: cash flow statement, income statement, balance sheet |
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| + | # Sources and tools for trend watching |
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| − | # Cross-border financial management |
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| + | # Life hacks for search |
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| − | # Basic metrics of the unit economy of a startup |
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|- |
|- |
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| − | | |
+ | | Founder motivation || |
| + | # Ways to Stay Motivated as an Entrepreneur |
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| − | # Basic concepts of marketing |
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| + | # Exercises for founders motivation |
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| − | # Marketing functions and its place in organization management |
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| − | # Marketing mix |
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| − | # Marketing strategy |
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|- |
|- |
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| + | | Pitch Day || |
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| − | | HR, Team building and hiring || |
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| + | # Market research results presentations |
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| − | # Authority and leadership |
||
| + | |} |
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| − | # Organizational culture |
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| + | |||
| − | # Group dynamics and organizational changes |
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| − | # An effective team as an element of operational management |
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| − | # Leadership and management skills, as well as control methods |
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| − | # Recruiting, motivating and retaining the project team |
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| − | # Human resources, human capital and human potential in IT-startups (trends, features, CEO-vision) |
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| − | # Recruitment and assessment for IT-startups (how CEO can do it himself/herself or check the process of his HR-specialist/partner agency) |
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| − | # Interview with a candidate: from preparation to evaluation |
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| − | # Career modeling in IT-startups: career tracks, educational tracks, corporate training. |
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| − | # Corporate culture |
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| − | # Organization of remote/online job process for the team |
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| − | # HR lifehacks for CEO: from “how to hire” to “how to fire” |
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| − | # Creation of a positive HR-brand |
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| − | |- |
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| − | | Innovations || |
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| − | # Innovation management |
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| − | # Managing complex innovation |
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| − | # Innovation management typologies |
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| − | # Entrepreneurship in innovation management |
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| − | |- |
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| − | | Intellectual property || |
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| − | # How to protect IP objects in the field of IT |
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| − | # How to manage an IP portfolio |
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| − | # How to assess risks |
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| − | # Interaction with government agencies: Rospatent, FAS and international agencies |
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| − | # How to monetize IP |
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| − | |} |
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== Intended Learning Outcomes (ILOs) == |
== Intended Learning Outcomes (ILOs) == |
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=== What is the main purpose of this course? === |
=== What is the main purpose of this course? === |
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| + | This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business. |
||
| − | The main purpose of this course is to provide the formation and development of the knowledge, skills and abilities necessary for the successful operation of the managing director of a technology company. |
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=== ILOs defined at three levels === |
=== ILOs defined at three levels === |
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| Line 110: | Line 72: | ||
==== Level 1: What concepts should a student know/remember/explain? ==== |
==== Level 1: What concepts should a student know/remember/explain? ==== |
||
By the end of the course, the students should be able to ... |
By the end of the course, the students should be able to ... |
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| + | * Market research techniques using open data, |
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| − | * Basic concepts of marketing |
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| + | * Typology of market assessment methods, |
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| − | * Innovation management |
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| + | * Types of research data and their application, |
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| − | * Leader types and management styles; |
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| + | * Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc |
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| − | * Stages of development of the organization; |
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| − | * Differences between a startup model and a small business; |
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| − | * Choice of operational strategy; |
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| − | * Value Management; |
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| − | * Operational planning; |
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| − | * Project management; |
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| − | * An effective team as an element of operational management; |
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| − | * Operational control and optimization of business processes; |
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| − | * Fundamentals of financial planning, reports and unit economics of a startup; |
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| − | * Legal support for the activities of small and medium-sized enterprises; |
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| − | * The value of intellectual property for a startup, as well as methods for protecting it. |
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==== Level 2: What basic practical skills should a student be able to perform? ==== |
==== Level 2: What basic practical skills should a student be able to perform? ==== |
||
By the end of the course, the students should be able to ... |
By the end of the course, the students should be able to ... |
||
| + | * Methods of ideation, |
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| − | * Build a value chain; |
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| + | * TAM SAM SOM method, 2 approaches, |
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| − | * Read and understand financial statements; |
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| + | * Applied tools and resources for market sizing, |
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| − | * Build a business process map; |
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| + | * Principles to work with business hypotheses |
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| − | * Choose the best management style for your company; |
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| − | * Control operational processes; |
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| − | * Understand basic concepts of marketing. |
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==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ==== |
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ==== |
||
By the end of the course, the students should be able to ... |
By the end of the course, the students should be able to ... |
||
| + | * Identify and describe the market |
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| − | * Strategic planning skills; |
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| + | * Assess market potential for any business idea |
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| − | * Marketing management skills |
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| + | * Conduct relevant market research before starting up a business |
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| − | * Financial planning and accounting skills; |
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| + | * Use the most relevant and high-quality data for a market research |
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| − | * Understanding the legal and legal support of the company's activities; |
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| + | |||
| − | * Skills to manage and protect the intellectual property of the company; |
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| − | * Leadership and management skills, as well as control methods; |
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| − | * Recruiting, motivating and retaining the project team; |
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| − | * Implement innovation management skills. |
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== Grading == |
== Grading == |
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| Line 152: | Line 99: | ||
! Grade !! Range !! Description of performance |
! Grade !! Range !! Description of performance |
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|- |
|- |
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| − | | A. Excellent || 85-100 || - |
+ | | A. Excellent || 85.0-100.0 || - |
|- |
|- |
||
| − | | B. Good || |
+ | | B. Good || 70.0-84.0 || - |
|- |
|- |
||
| − | | C. Satisfactory || |
+ | | C. Satisfactory || 50.0-69.0 || - |
|- |
|- |
||
| − | | D. Fail || 0- |
+ | | D. Fail || 0.0-50.0 || - |
|} |
|} |
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| Line 167: | Line 114: | ||
! Activity Type !! Percentage of the overall course grade |
! Activity Type !! Percentage of the overall course grade |
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|- |
|- |
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| + | | Paper #0: Market research structure || 0-10 scale (costs 10% final) |
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| − | | Weekly student reports || 20 |
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|- |
|- |
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| + | | Paper #1: TAM SAM SOM || 0-10 scale (costs 20% final) |
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| − | | Business cases || 20 |
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|- |
|- |
||
| + | | Workshops activity || 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final) |
||
| − | | Labs || 20 |
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|- |
|- |
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| + | | Paper #2: Market research || 0-10 scale (costs 30% final) |
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| − | | Multiple Choice Testing || 20 |
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|- |
|- |
||
| + | | Final Presentation || 0-10 scale (costs 20% final) |
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| − | | Oral exam || 20 |
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|} |
|} |
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=== Recommendations for students on how to succeed in the course === |
=== Recommendations for students on how to succeed in the course === |
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| + | Participation is important. Showing up and participating in discussions is the key to success in this course.<br>Students work in teams, so coordinating teamwork will be an important factor for success.<br>Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.<br>The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses |
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| − | Work out lecture notes.<br>Work out the materials of seminars (practical) classes.<br>In case of difficulty, formulate questions to the teacher.<br>To prepare for the classes, it is recommended to use the presented sources in electronic formats and additional literature.<br>Students during the course work in teams and perform tasks jointly. Teams of 2 to 5 people are allowed. It is also possible to work with a team that is not part of the study group. |
||
== Resources, literature and reference materials == |
== Resources, literature and reference materials == |
||
=== Open access resources === |
=== Open access resources === |
||
| + | * - article with reflections on the methodology book on the 55 typical business models |
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| − | * Peter F. Drucker (2011) The Practice of Management. Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN 711 Third Avenue, New York, NY 10017, USA. |
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| + | * - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear. |
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| − | * Philip Kotler, Kevin Lane Keller, Mairead Brady, Malcolm Goodman, Torben Hansen (2019) |
||
| + | * - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs. |
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| − | * Iacocca, Lee A; Whitney, Catherine (2007), Scribner, New York: |
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| + | * A selection of with a summary of key ideas from Harvard Business Review |
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| − | * Tony Hsieh (2013) Delivering Happiness: A Path to Profits, Passion, and Purpose, https://books.google.ru/books?hl=ru&lr=&id=va01AQAAQBAJ&oi=fnd&pg=PT2&dq=Delivering+happiness+&ots=AWdSHnKLeF&sig=BJGxUFx3-v0qs-FR8sM1BEmI34I&redir_esc=y#v=onepage&q=Delivering%20happiness&f=false |
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| + | * F. Sesno "" - the book on how to get information out of people through questions. |
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| − | * Emotional Intelligence for Project Managers: The People Skills You Need to Achieve Outstanding Results, Paperback https://books.google.ru/books?hl=ru&lr=&id=0Hhzn-dfXmoC&oi=fnd&pg=PP2&dq=+Emotional+Intelligence+for+Project+Managers&ots=3QgZXEEL9S&sig=y4YMlMlnN5G-npdjsAQETeyMe8Q&redir_esc=y#v=onepage&q=Emotional%20Intelligence%20for%20Project%20Managers&f=false |
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| + | * a visual guide book to dealing with your inner procrastinator |
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| − | * W. Chan Kim and Renée Mauborgne (2015), Blue Ocean Strategy, Harvard Business School Press https://books.google.ru/books?hl=ru&lr=&id=gwypBQAAQBAJ&oi=fnd&pg=PR4&dq=W.+Chan+Kim+and+Ren%C3%A9e+Mauborgne+Blue+Ocean+Strategy,+Harvard+Business+School+Press&ots=bP7dET9b2r&sig=fZwGWuuu5p1-wK5gIhjVYFyqiow&redir_esc=y#v=onepage&q=W.%20Chan%20Kim%20and%20Ren%C3%A9e%20Mauborgne%20Blue%20Ocean%20Strategy%2C%20Harvard%20Business%20School%20Press&f=false |
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| − | * Jason Fryde (2010), David Heinmeyer Hansson Rework: Business without prejudice Crown Business, https://books.google.ru/books?hl=ru&lr=&id=X8tWaXJuhkAC&oi=fnd&pg=PA11&dq=Rework+%D0%91%D0%B8%D0%B7%D0%BD%D0%B5%D1%81+%D0%B1%D0%B5%D0%B7+%D0%BF%D1%80%D0%B5%D0%B4%D1%80%D0%B0%D1%81%D1%81%D1%83%D0%B4%D0%BA%D0%BE%D0%B2&ots=IEdD3fQAqo&sig=sNZ1B0hLuFsZcByNtzxywdnHNZY&redir_esc=y#v=onepage&q=Rework%20%D0%91%D0%B8%D0%B7%D0%BD%D0%B5%D1%81%20%D0%B1%D0%B5%D0%B7%20%D0%BF%D1%80%D0%B5%D0%B4%D1%80%D0%B0%D1%81%D1%81%D1%83%D0%B4%D0%BA%D0%BE%D0%B2&f=false |
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| − | * Ichak Adizes (2014) Managing Corporate Lifecycles (Pb): How Organizations Grow, Age And Die, Embassy Books https://books.google.ru/books?hl=ru&lr=&id=pmpkgbeBNtsC&oi=fnd&pg=PR18&dq=Managing+Corporate+Lifecycles+&ots=fcKmig7dig&sig=4KnNrbFbF5BVoRapkwKeQ4S9188&redir_esc=y#v=onepage&q=Managing%20Corporate%20Lifecycles&f=false |
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| − | * Goldratt's Theory of Constraints: A Systems Approach to Continuous Improvement, Asq Pr; 1st Edition (March 13, 1997) |
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| − | * Management http://www.gidromet.edu.kh.ua/Files/downloads/%D0%9E%D1%81%D0%BD%D0%BE%D0%B2%D1%8B%20%D0%BC%D0%B5%D0%BD%D0%B5%D0%B4%D0%B6%D0%BC%D0%B5%D0%BD%D1%82%D0%B0.%20%D0%9C%D0%B5%D1%81%D0%BA%D0%BE%D0%BD%D0%9C.,%20%D0%90%D0%BB%D1%8C%D0%B1%D0%B5%D1%80%D1%82%20%D0%9C.,%20%D0%A5%D0%B5%D0%B4%D0%BE%D1%83%D1%80%D0%B8%20%D0%A4.,1997-704%20%D1%81%D1%82%D1%80.pdf |
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=== Closed access resources === |
=== Closed access resources === |
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| + | * Crunchbase.com |
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| − | * Bass, BM, Bass, R (2008) The Bass Handbook of Leadership: Theory, Research, and Application. New York: Simon & Schuster. |
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| + | * Statista.com |
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| − | * Naumov, S. A. (2017). Managing Operational Capabilities in Startup Companies. (n.p.): Massachusetts Institute of Technology, Sloan School of Management. |
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| − | * Bhimani, A. (2017). Financial Management for Technology Start-Ups: A Handbook for Growth. Индия: Kogan Page. |
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| − | * Interiano, L. (2021). Startup Recruitment Guide: Essential Tips For Hiring Employees To Your Business: Guide For Startup Hiring And Company Recruiting Companies. (n.p.): Independently Published. |
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| − | * Kotter, JP (1990) Force for Change: How Leadership Differs from Management. New York: Simon & Schuster. |
||
| − | * Pearce, CL, Conger, JA (2003) Shared Leadership: Reframing the Hows and Whys of Leadership. Thousand Oaks, CA: SAGE. |
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| − | * Tormey, P., Tormey, J. (2014). Startup Guide to Intellectual Property: Early Stage Protection of IP. Великобритания: CreateSpace Independent Publishing Platform. |
||
| − | * Brennan, K. (2018). Startup CFO: The Finance Handbook for Your Growing Business. Соединенные Штаты Америки: Amazon Digital Services LLC - KDP Print US. |
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| − | * Tom DeMarco (1997) The Deadline: A Novel About Project Management |
||
=== Software and tools used within the course === |
=== Software and tools used within the course === |
||
| + | * Boardofinnovation.com |
||
| − | * MSTeams License, |
||
| + | * Miro.com |
||
| − | * Moodle |
||
| + | * Notion.com |
||
| − | * Office software |
||
| + | * MS Teams |
||
| + | |||
= Teaching Methodology: Methods, techniques, & activities = |
= Teaching Methodology: Methods, techniques, & activities = |
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| Line 216: | Line 154: | ||
|+ Teaching and Learning Methods within each section |
|+ Teaching and Learning Methods within each section |
||
|- |
|- |
||
| − | ! Teaching Techniques !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7 |
+ | ! Teaching Techniques !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7 |
|- |
|- |
||
| − | | Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) |
+ | | Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | Project-based learning (students work on a project) |
+ | | Project-based learning (students work on a project) || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) |
+ | | Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); |
+ | | Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | Business game (learn by playing a game that incorporates the principles of the material covered within the course). |
+ | | Business game (learn by playing a game that incorporates the principles of the material covered within the course). || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | inquiry-based learning |
+ | | inquiry-based learning || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
| − | |- |
||
| − | | Just-in-time teaching || 1 || 1 || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
||
| − | |- |
||
| − | | Task-based learning || 1 || 1 || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
||
|} |
|} |
||
{| class="wikitable" |
{| class="wikitable" |
||
|+ Activities within each section |
|+ Activities within each section |
||
|- |
|- |
||
| − | ! Learning Activities !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7 |
+ | ! Learning Activities !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7 |
|- |
|- |
||
| − | | Lectures |
+ | | Interactive Lectures || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | |
+ | | Lab exercises || 1 || 1 || 1 || 1 || 1 || 1 || 0 |
|- |
|- |
||
| − | | |
+ | | Group projects || 1 || 0 || 0 || 0 || 0 || 1 || 1 |
|- |
|- |
||
| − | | |
+ | | Flipped classroom || 1 || 1 || 1 || 1 || 1 || 1 || 0 |
|- |
|- |
||
| − | | |
+ | | Discussions || 1 || 1 || 1 || 1 || 1 || 1 || 1 |
|- |
|- |
||
| − | | |
+ | | Presentations by students || 1 || 0 || 1 || 0 || 0 || 0 || 1 |
|- |
|- |
||
| − | | |
+ | | Oral Reports || 1 || 0 || 1 || 0 || 0 || 0 || 1 |
|- |
|- |
||
| − | | |
+ | | Cases studies || 0 || 1 || 0 || 1 || 1 || 1 || 0 |
|- |
|- |
||
| − | | |
+ | | Experiments || 0 || 0 || 1 || 0 || 0 || 0 || 0 |
|- |
|- |
||
| − | | |
+ | | Written reports || 0 || 0 || 1 || 0 || 0 || 1 || 0 |
|- |
|- |
||
| − | | |
+ | | Individual Projects || 0 || 0 || 0 || 1 || 0 || 0 || 0 |
|- |
|- |
||
| − | | |
+ | | Peer Review || 0 || 0 || 0 || 0 || 0 || 0 || 1 |
| − | | |
+ | |} |
| + | |||
| − | | Lab exercises || 0 || 1 || 1 || 1 || 0 || 0 || 1 || 1 || 1 |
||
| − | |- |
||
| − | | Experiments || 0 || 1 || 1 || 1 || 0 || 0 || 1 || 1 || 1 |
||
| − | |- |
||
| − | | Simulations and role-plays || 0 || 0 || 1 || 1 || 0 || 0 || 0 || 1 || 1 |
||
| − | |} |
||
== Formative Assessment and Course Activities == |
== Formative Assessment and Course Activities == |
||
| Line 279: | Line 208: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Discussion || Difference between Art and Creativity. Examples from your personal experience <br> Tools to manage your attention: work with exercises above <br> Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before? <br> Idea diary: share your experience, was it useful? How to keep motivation to continue? <br> Sharing your business ideas: is it risky for a founder? Why? <br> Name and discuss principles of hypothesis thinking <br> Name and comment on ideation tool you know. Did you have an experience with it? <br> Where to take creativity? Your advice <br> Lets find examples of “Steal like an artist” approach among startups <br> Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea. || 0 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Legal entity types and differences<br>Fundamentals of taxation for small businesses in Russia<br>Possibilities of international jurisdictions<br>Legal support of transactions with a client: competent document management<br>Testing on forms of taxation for small businesses<br>Choosing an adequate legal form for a startup || 1 |
||
| − | | |
+ | |- |
| + | | Workshop || Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams || 1 |
||
| + | |- |
||
| + | | Exercise || Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. || 0 |
||
| + | |} |
||
| + | |||
==== Section 2 ==== |
==== Section 2 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 287: | Line 221: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Discussion || What are the basic steps in market research? <br> What are the commonly used market research methods? <br> What research question types can be asked in surveys? <br> Should startup prefer primary or secondary research? || 0 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || What is management and its functions<br>History of management and marketing as a practical knowledge and science<br>Analyzing and application of management functions || 1 |
||
| − | | |
+ | |- |
| + | | Workshop || SWOT analysis: compare your business idea with competitors and market situation <br> Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry || 0 |
||
| + | |- |
||
| + | | Home written assignment || Market research doc: create a structure that is: <br> 1-2 pages long <br> Describes your business idea <br> Contains the structure of your future research <br> Contains a list of questions to answer during the research for each chapter proposed <br> Contains links and references to data sources potentilly interesting to use in a research <br> Its feasible: it should be a chance you may answer all the questions stated in the doc <br> The doc format is designed and well structured || 1 |
||
| + | |} |
||
| + | |||
==== Section 3 ==== |
==== Section 3 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 295: | Line 234: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Oral test || Good or bad interview question? <br> Useful or useless feedback? || 0 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Organisation types<br>Life-cycle of an organization<br>Strategic management concepts and frameworks<br>Strategic planning<br>Strategic management as a function of management<br>Testing concepts and planning || 1 |
||
| − | | |
+ | |- |
| + | | Workshop || Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. || 1 |
||
| + | |- |
||
| + | | Case study || Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? || 0 |
||
| + | |} |
||
| + | |||
==== Section 4 ==== |
==== Section 4 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 303: | Line 247: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Workshop || Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. || 1 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || How to turn operational tasks into an orderly and transparent process by implementing a system of metrics and continuous analysis?<br>How to manage quality and optimize costs?<br>How to build a system of effective company management and determine business growth points?<br>How to improve competitiveness?<br>How to set long-term goals and define metrics for them. You will be able to prioritize and plan short-term goals.<br>Business case on building a system of metrics and indicators, planning and goal setting for a start-up company. || 1 |
||
| − | | |
+ | |- |
| + | | Case study || Learn a market sizing case: online babysitting service || 0 |
||
| + | |} |
||
| + | |||
==== Section 5 ==== |
==== Section 5 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 311: | Line 258: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Workshop || Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) || 0 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Financial modeling for a startup: practicing in practice, compiling a financial model of a company || 1 |
||
| − | | |
+ | |- |
| + | | Oral presentation || Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. || 1 |
||
| + | |} |
||
| + | |||
==== Section 6 ==== |
==== Section 6 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 319: | Line 269: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Workshop || Exercises: <br> Personal SWOT Analysis <br> List of Personal Achievements <br> Analysis of Motivating Activities <br> Your Personal Vision || 0 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Business case on marketing mix<br>Analyzing marketing strategy of a startup<br> <br> || 1 |
||
| − | |} |
+ | |} |
| + | |||
==== Section 7 ==== |
==== Section 7 ==== |
||
{| class="wikitable" |
{| class="wikitable" |
||
| Line 327: | Line 278: | ||
! Activity Type !! Content !! Is Graded? |
! Activity Type !! Content !! Is Graded? |
||
|- |
|- |
||
| + | | Pitch session || The final Market Research report should follow the structure discussed <br> Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work || 1 |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Exchange of experience, discussion of specifics of hiring in the IT sector || 1 |
||
| − | |} |
+ | |} |
| + | |||
| − | ==== Section 8 ==== |
||
| − | {| class="wikitable" |
||
| − | |+ |
||
| − | |- |
||
| − | ! Activity Type !! Content !! Is Graded? |
||
| − | |- |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Implementation of innovations in management || 1 |
||
| − | |} |
||
| − | ==== Section 9 ==== |
||
| − | {| class="wikitable" |
||
| − | |+ |
||
| − | |- |
||
| − | ! Activity Type !! Content !! Is Graded? |
||
| − | |- |
||
| − | | Weekly student reports<br>Business cases<br>Labs<br>Multiple Choice Testing || Business case on intellectual property protection methods (influence of competitors, conflicts and division of property in a team) || 1 |
||
| − | |} |
||
=== Final assessment === |
=== Final assessment === |
||
'''Section 1''' |
'''Section 1''' |
||
| + | # For the final assessment, students should complete the Market Research paper. |
||
| − | # What taxation system to choose for an IT startup in Russia |
||
| + | # It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt. |
||
| − | # DOS features for IT companies |
||
| + | # The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc. |
||
| − | # Income tax |
||
| + | # Grading criteria for the final project presentation: |
||
| − | # Privileges |
||
| + | # Market sizing has been carried out |
||
| − | # Features of the simplified tax system for the IT-Sphere |
||
| + | # Customer segments are named |
||
| − | # Patent system |
||
| + | # Сompetitor analysis has been conducted |
||
| − | # Ways to legally save on taxes |
||
| + | # At least 2 prominent data sources are used |
||
| + | # Customer discovery interviews conducted |
||
| + | # Future steps are mapped out |
||
| + | # The final report is visualized clearly and transparent |
||
'''Section 2''' |
'''Section 2''' |
||
| + | |||
| − | # What is management: definition and its functions |
||
| − | # History of management and marketing as a practical knowledge and science |
||
| − | # Analyzing and application of management functions |
||
'''Section 3''' |
'''Section 3''' |
||
| + | |||
| − | # What are organization types? |
||
| − | # Life-cycle of an organization: characteristics |
||
| − | # Strategic planning of a company |
||
| − | # Testing concepts and planning |
||
'''Section 4''' |
'''Section 4''' |
||
| + | |||
| − | # How to turn operational tasks into an orderly and transparent process by implementing a system of metrics and continuous analysis? |
||
| − | # How to manage quality and optimize costs? |
||
| − | # How to build a system of effective company management and determine business growth points? |
||
| − | # How to improve competitiveness? |
||
| − | # How to set long-term goals and define metrics for them. You will be able to prioritize and plan short-term goals. |
||
'''Section 5''' |
'''Section 5''' |
||
| + | |||
| − | # How to analyze financial statements and foreign market |
||
| − | # How to calculate the unit-economy and determine the profitability of the company |
||
'''Section 6''' |
'''Section 6''' |
||
| + | |||
| − | # What are basic concepts of marketing? |
||
| − | # How to create a marketing strategy? |
||
'''Section 7''' |
'''Section 7''' |
||
| + | |||
| − | # How to define project goals, calculate the economy, manage people, deadlines and tasks |
||
| − | # How to create and manage teams, even if they work remotely. |
||
| − | # How to manage engagement and motivation. |
||
| − | '''Section 8''' |
||
| − | # What is innovation management? |
||
| − | # How to manage complex innovation? |
||
| − | # Innovation management typologies |
||
| − | # Innovation management in entrepreneurship |
||
| − | '''Section 9''' |
||
| − | # How to protect company innovations |
||
| − | # How to protect the company's intangible assets and keep products competitive. |
||
| − | # Features of registration of trademarks and protection of intellectual property rights |
||
| − | # How to interact with Rospatent and maintain your position in court. |
||
=== The retake exam === |
=== The retake exam === |
||
'''Section 1''' |
'''Section 1''' |
||
| + | # For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied. |
||
| − | # What taxation system to choose for an IT startup in Russia |
||
| − | # DOS features for IT companies |
||
| − | # income tax |
||
| − | # Privileges |
||
| − | # Features of the simplified tax system for the IT-Sphere |
||
| − | # patent system |
||
| − | # Ways to legally save on taxes |
||
'''Section 2''' |
'''Section 2''' |
||
| + | |||
| − | # What is management: definition and its functions |
||
| − | # History of management and marketing as a practical knowledge and science |
||
| − | # Analyzing and application of management functions |
||
'''Section 3''' |
'''Section 3''' |
||
| + | |||
| − | # What are organization types? |
||
| − | # Life-cycle of an organization: characteristics |
||
| − | # Strategic planning of a company |
||
| − | # Testing concepts and planning |
||
'''Section 4''' |
'''Section 4''' |
||
| + | |||
| − | # How to turn operational tasks into an orderly and transparent process by implementing a system of metrics and continuous analysis? |
||
| − | # How to manage quality and optimize costs? |
||
| − | # How to build a system of effective company management and determine business growth points? |
||
| − | # How to improve competitiveness? |
||
| − | # How to set long-term goals and define metrics for them. You will be able to prioritize and plan short-term goals. |
||
'''Section 5''' |
'''Section 5''' |
||
| + | |||
| − | # How to analyze financial statements and foreign market |
||
| − | # How to calculate the unit-economy and determine the profitability of the company |
||
'''Section 6''' |
'''Section 6''' |
||
| + | |||
| − | # What are basic concepts of marketing? |
||
| − | # How to create a marketing strategy? |
||
'''Section 7''' |
'''Section 7''' |
||
| − | # How to define project goals, calculate the economy, manage people, deadlines and tasks |
||
| − | # How to create and manage teams, even if they work remotely. |
||
| − | # How to manage engagement and motivation. |
||
| − | '''Section 8''' |
||
| − | # What is innovation management? |
||
| − | # How to manage complex innovation? |
||
| − | # Innovation management typologies |
||
| − | # Innovation management in entrepreneurship |
||
| − | '''Section 9''' |
||
| − | # How to protect company innovations |
||
| − | # How to protect the company's intangible assets and keep products competitive. |
||
| − | # Features of registration of trademarks and protection of intellectual property rights |
||
| − | # How to interact with Rospatent and maintain your position in court. |
||
Latest revision as of 09:50, 29 May 2023
Market Research for IT Startups
- Course name: Market Research for IT Startups
- Code discipline:
- Subject area: Technological Entrepreneurship
Short Description
This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality
Prerequisites
Prerequisite subjects
- N/A
Prerequisite topics
- N/A
Course Topics
| Section | Topics within the section |
|---|---|
| Ideation tools |
|
| Market research content |
|
| Customer development |
|
| Market sizing |
|
| Data for a research |
|
| Founder motivation |
|
| Pitch Day |
|
Intended Learning Outcomes (ILOs)
What is the main purpose of this course?
This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.
ILOs defined at three levels
Level 1: What concepts should a student know/remember/explain?
By the end of the course, the students should be able to ...
- Market research techniques using open data,
- Typology of market assessment methods,
- Types of research data and their application,
- Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc
Level 2: What basic practical skills should a student be able to perform?
By the end of the course, the students should be able to ...
- Methods of ideation,
- TAM SAM SOM method, 2 approaches,
- Applied tools and resources for market sizing,
- Principles to work with business hypotheses
Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios?
By the end of the course, the students should be able to ...
- Identify and describe the market
- Assess market potential for any business idea
- Conduct relevant market research before starting up a business
- Use the most relevant and high-quality data for a market research
Grading
Course grading range
| Grade | Range | Description of performance |
|---|---|---|
| A. Excellent | 85.0-100.0 | - |
| B. Good | 70.0-84.0 | - |
| C. Satisfactory | 50.0-69.0 | - |
| D. Fail | 0.0-50.0 | - |
Course activities and grading breakdown
| Activity Type | Percentage of the overall course grade |
|---|---|
| Paper #0: Market research structure | 0-10 scale (costs 10% final) |
| Paper #1: TAM SAM SOM | 0-10 scale (costs 20% final) |
| Workshops activity | 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final) |
| Paper #2: Market research | 0-10 scale (costs 30% final) |
| Final Presentation | 0-10 scale (costs 20% final) |
Recommendations for students on how to succeed in the course
Participation is important. Showing up and participating in discussions is the key to success in this course.
Students work in teams, so coordinating teamwork will be an important factor for success.
Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.
The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses
Resources, literature and reference materials
Open access resources
- - article with reflections on the methodology book on the 55 typical business models
- - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
- - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
- A selection of with a summary of key ideas from Harvard Business Review
- F. Sesno "" - the book on how to get information out of people through questions.
- a visual guide book to dealing with your inner procrastinator
Closed access resources
- Crunchbase.com
- Statista.com
Software and tools used within the course
- Boardofinnovation.com
- Miro.com
- Notion.com
- MS Teams
Teaching Methodology: Methods, techniques, & activities
Activities and Teaching Methods
| Teaching Techniques | Section 1 | Section 2 | Section 3 | Section 4 | Section 5 | Section 6 | Section 7 |
|---|---|---|---|---|---|---|---|
| Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Project-based learning (students work on a project) | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Business game (learn by playing a game that incorporates the principles of the material covered within the course). | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| inquiry-based learning | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Learning Activities | Section 1 | Section 2 | Section 3 | Section 4 | Section 5 | Section 6 | Section 7 |
|---|---|---|---|---|---|---|---|
| Interactive Lectures | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Lab exercises | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Group projects | 1 | 0 | 0 | 0 | 0 | 1 | 1 |
| Flipped classroom | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Discussions | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Presentations by students | 1 | 0 | 1 | 0 | 0 | 0 | 1 |
| Oral Reports | 1 | 0 | 1 | 0 | 0 | 0 | 1 |
| Cases studies | 0 | 1 | 0 | 1 | 1 | 1 | 0 |
| Experiments | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Written reports | 0 | 0 | 1 | 0 | 0 | 1 | 0 |
| Individual Projects | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Peer Review | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
Formative Assessment and Course Activities
Ongoing performance assessment
Section 1
| Activity Type | Content | Is Graded? |
|---|---|---|
| Discussion | Difference between Art and Creativity. Examples from your personal experience Tools to manage your attention: work with exercises above Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before? Idea diary: share your experience, was it useful? How to keep motivation to continue? Sharing your business ideas: is it risky for a founder? Why? Name and discuss principles of hypothesis thinking Name and comment on ideation tool you know. Did you have an experience with it? Where to take creativity? Your advice Lets find examples of “Steal like an artist” approach among startups Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea. |
0 |
| Workshop | Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams | 1 |
| Exercise | Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. | 0 |
Section 2
| Activity Type | Content | Is Graded? |
|---|---|---|
| Discussion | What are the basic steps in market research? What are the commonly used market research methods? What research question types can be asked in surveys? Should startup prefer primary or secondary research? |
0 |
| Workshop | SWOT analysis: compare your business idea with competitors and market situation Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry |
0 |
| Home written assignment | Market research doc: create a structure that is: 1-2 pages long Describes your business idea Contains the structure of your future research Contains a list of questions to answer during the research for each chapter proposed Contains links and references to data sources potentilly interesting to use in a research Its feasible: it should be a chance you may answer all the questions stated in the doc The doc format is designed and well structured |
1 |
Section 3
| Activity Type | Content | Is Graded? |
|---|---|---|
| Oral test | Good or bad interview question? Useful or useless feedback? |
0 |
| Workshop | Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. | 1 |
| Case study | Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? | 0 |
Section 4
| Activity Type | Content | Is Graded? |
|---|---|---|
| Workshop | Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. | 1 |
| Case study | Learn a market sizing case: online babysitting service | 0 |
Section 5
| Activity Type | Content | Is Graded? |
|---|---|---|
| Workshop | Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) | 0 |
| Oral presentation | Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. | 1 |
Section 6
| Activity Type | Content | Is Graded? |
|---|---|---|
| Workshop | Exercises: Personal SWOT Analysis List of Personal Achievements Analysis of Motivating Activities Your Personal Vision |
0 |
Section 7
| Activity Type | Content | Is Graded? |
|---|---|---|
| Pitch session | The final Market Research report should follow the structure discussed Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work |
1 |
Final assessment
Section 1
- For the final assessment, students should complete the Market Research paper.
- It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
- The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
- Grading criteria for the final project presentation:
- Market sizing has been carried out
- Customer segments are named
- Сompetitor analysis has been conducted
- At least 2 prominent data sources are used
- Customer discovery interviews conducted
- Future steps are mapped out
- The final report is visualized clearly and transparent
Section 2
Section 3
Section 4
Section 5
Section 6
Section 7
The retake exam
Section 1
- For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.
Section 2
Section 3
Section 4
Section 5
Section 6
Section 7