Start Your Own Business: Your Business Idea
Posted 1 year 11 months ago by The Open University
Develop your business idea into a viable business model
You’ve got an idea for your business, but how can you be sure it will work? This two-week course will encourage you to think critically about all aspects of your business idea so you can be confident it will be viable in the current market.
Understand the challenges of starting a new venture
There are some important differences between working for someone else and for yourself. On this course, you’ll discover what they are and what they mean for you. You’ll also be encouraged to think about the range of ambitions you could have for your venture.
Hone your idea using the Business Model Canvas
With guidance from Open University academics and using industry examples, you’ll assess the different ways you can make money from your idea and discover resources to improve its chances of success.
Using a framework known as the Business Model Canvas, you’ll clarify how your venture will generate a compelling value proposition. You’ll learn how to audit your resources and identify how these may need to evolve to meet your business needs.
Gain the skills to write a compelling business plan
You’ll gain practical skills to help you write a persuasive business plan, including a well-refined ‘elevator pitch’. With this, you’ll be able to confidently communicate with stakeholders such as customers, financiers, suppliers, professional advisors, and members of your personal network to bring them on board with you.
Whether you plan to create a full-time venture or part time ‘side-hustle’ alongside a day job; you’re starting a brick-and-mortar business or an online venture; or you plan to utilise established platforms such as Etsy, Amazon and the like, this course will teach you how to get started.
It is suitable for learners at all levels, whether you haven’t ventured into self-employment and entrepreneurship before or have previously run a business and wish to refresh your skills for the current landscape.
Whether you plan to create a full-time venture or part time ‘side-hustle’ alongside a day job; you’re starting a brick-and-mortar business or an online venture; or you plan to utilise established platforms such as Etsy, Amazon and the like, this course will teach you how to get started.
It is suitable for learners at all levels, whether you haven’t ventured into self-employment and entrepreneurship before or have previously run a business and wish to refresh your skills for the current landscape.
- Identify what’s at stake when starting a business
- Explore how your capabilities and mindset will contribute to the success of your business
- Perform an audit of the resources that you bring to your venture
- Develop the most appropriate business model for your venture
- Produce a business plan and promote your venture to stakeholders