What you will study
Throughout this course, you’ll learn about the tools and techniques that will prepare you for business success and address the key challenges faced by entrepreneurs. Practical exercises will help you to apply your new knowledge, and the social learning approach will empower you to further enhance and reflect on your understanding by sharing your thoughts and opinions with co-learners.
Delivered over four easy-to-digest sections, you will cover:
1: Your business idea
- Presenting your venture in compelling terms to others
- Defining your ambitions and the business functions you intend to perform
- Configuring your idea to launch a viable and sustainable business
- Creating a business plan and refining your elevator pitch
2: Marketing a new business
- Understanding customers’ motivation
- Product and brand development
- Customer segmentation
- Comparisons with competitors
- Promotion, pricing and distribution
3: Creativity, innovation and research
- Innovation and generating new ideas
- Networking for success
- Marketing research
4: Financial viability for a new venture
- Assessing the financial viability of your venture
- Pricing your product or service
- Sales and revenue forecasting
- Legal entities, their implications and intellectual property
- Sources of funding and support.
Please note: the content in this course also features in courses created by The Open University, which are available on FutureLearn.
You will learn
By the end of this course, you’ll have the skills to:
- develop your initial business idea into a commercially successful proposition
- engage in networking activities effectively to acquire resources, customers and opportunities
- assess the financial implications of your plans and adjust them as necessary
- design a brand that is distinctive and promotes yourself as an entrepreneur
- develop resilient plans that consider the changing business environment.
Starting a new business is very different from running an existing one because it’s likely that you’re bringing something new or unique to the market. You’ll need a wide set of skills in areas that would usually be carried out by several different people in an established workplace, including finance, marketing and networking.
This course has been designed to meet those needs by academics from the OU’s highly respected Business School, which has vast experience in the delivery of online business education. It is one of only 100 business schools in the world to hold triple-accredited status with EQUIS, AACSB and AMBA.
There is no tuition on this course, and all study is self-directed. Throughout the course, you will have the opportunity to enhance and reflect on your understanding by sharing your thoughts and opinions with co-learners.