BI’s 2nd year course in innovation and entreprenurship: Time to write a businessplan (4 ½ months)
StartUp Weekend: time to write a businessplan, develop the idea, code it, pitch it to mentors, validate it, pivot it, meet with partners, get your first fans online and pitch it to the real world: 54 hours.
Comment from an aspiring innovator who has done both: “I learned more in 54 hours of StartUp Weekend, then I did six months of entrepreneurship classes”.
Having just completed a StartUp Weekend in Stavanger, I’m left with one question, “how do we reinvent our education in innovation and entrepreneurship around the principles of StartUp Weekend thinking”.
– All action
– Get out of the building
– High Energy
– Pick your own idea/team
– MVP (minimum viable product)
– Identify customers
– Start building
Are radically different than how strategy, innovation and entreprenurship is currently being taught. Doing strategy work often leads to long discussions on models and theories, while I have yet to see a single student group go out an interview potential customers.
Same with my innovation and entrepreneurship students; while they might have great ideas, the time to market, the time to action is so long and the level of energy is just dropping by the minute…
Enter, Lean Startup.
Eric Ries, the author of “the Lean Startup”, identifies five principles:
1. ENTREPRENEURS ARE EVERWHERE
2. ENTREPRENEURSHIP IS MANAGEMENT
3. VALIDATED LEARNING
4. INNOVATION ACCOUNTING
As a business school teacher and management consultant I help leaders grow, teams grow and companies grow. While most can learn the research and theories, few are able to bridge the gap and “make it happen”. For many companies, projects dwindle on. For students, the project work takes months instead of hours (and the result is more or less the same) and for most people, things just slow down…the energy saps, the fun wears off, creativity and passion slows….and then life gets in the way of awesomeness.
The Lean Startup movement is showing one way of gearing up speed, passion, energy and creativity. These principles can be used in both education and internal corporate business development.
Now, the question is how can we apply some of these lean startup principles to our innovation and entreprenurship education in Norway…..
Next; “What I learned from StartUp Weekend”.
Blogpost coming later this week.
– Chris –