Entrepreneurship 103: Show Me The Money
Your startup needs to get cash positive as soon as possible – and ultimately, profitable. This is how you get there.
Course Information
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About this Course
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 covers Entrepreneurship 101, 102, and 103 and addresses these questions one by one.
Entrepreneurship 103 is your guide to creating a profitable business. 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, the course will give you a common framework to make decisions and lay out the foundation for your long-term success.
Give your best effort to this course. In return, you will gain the confidence that need to go from your first sale to a profitable business. And that’s priceless.
This course is a prerequisite 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.
What you'll learn
- 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
Prerequisites
Meet your instructors
Bill Aulet
Managing Director of the Martin Trust Center for MIT Entrepreneurship and Professor of the Practice at the MIT Sloan School of Management
Bill Aulet is the Managing Director of the Martin Trust Center for MIT Entrepreneurship and Professor of the Practice at the MIT Sloan School of Management.
He is changing the way entrepreneurship is understood, taught, and practiced around the world. Bill is an award-winning educator and author whose current work is built off the foundation of his 25-year successful business career first at IBM and then as a three-time serial entrepreneur. During this time, he directly raised over a hundred million dollars and, more importantly, created hundreds of millions of dollars of shareholder value through his companies. Since 2009, he has been responsible for leading the development of entrepreneurship education across MIT at the Martin Trust Center. Bill's first book, Disciplined Entrepreneurship, released in August 2013, has been translated into over 18 languages and has been the content for three online edX courses which have been taken by hundreds of thousands of people in 199 different countries. The accompanying follow-on book, Disciplined Entrepreneurship Workbook, was released in April 2017. Bill has widely published in in places such as theWall Street Journal, TechCrunch, the Boston Globe, the Sloan Management Review, the Kauffman Foundation, Entrepreneur Magazine, MIT Sloan Experts and more. He has been a featured speaker on shows such as CNBC’s Squawk Box, BBC News, Bloomberg News as well as at events and conferences around the world.
He has degrees from Harvard and MIT, and is a board member of MITEK Systems (NASDAQ: MITK) andXL Fleet. (Private). He is also a Visiting Professor at University of Strathclyde (Scotland). On July 1, 2017, Bill was named a Professor of the Practice at MIT Sloan, the first at the school in the area of entrepreneurship since Alex d’Arbeloff held that title in 2003. For his efforts, Bill has earned external recognition as well including Boston 50 on Fire, 2017 Favorite MBA Professors from Poets and Quants, and 2018 Nannerl Keohane Distinguished Visiting Professorship at the University of North Carolina at Chapel Hill and Duke University
