Entrepreneurship Essentials (E2): Business Model Innovation and Iteration

Starting a business is like starting on a blank canvas. Without a solid business model, your business idea can easily become a business flop. Mapping out your business allows you to test out key assumptions and refine your business before significant investment is made. Join this workshop to get an introduction to using the Business Model Canvas from Ben Schmuck who brings his experience leading innovation processes at Caterpillar and as an entrepreneur to illuminate the key parts of your business and how to develop them. In this workshop, Ben will introduce the Business Model Canvas along with examples and important considerations. The first hour of this workshop will be a training workshop, and the second hour will be a hands-on activity through Miro. There are two ticket types for this event – please sign up for “Workshop only” if you only intend to come for the first hour and sign up for “Workshop + Lab” if you would like to stay for the second hour to do the activity.

About the Facilitator:
For the past 5 years Ben has implemented the Lean Startup methodology at Caterpillar to early stage growth ideas or “startups.”  He has a structured approach to take an idea from a bar napkin to an investment-ready business. He can teach you methods to define the critical customer problem or need to solve through customer discovery, validate product-market fit through experiments and prove to investors that you have a sustainable business model.  You will more quickly identify if your idea needs to pivot, persevere or be shelved.  In only a matter of weeks, this approach will lead to lower risk for investors and a higher equity stake for the founders.

For more information contact Kate Turvy at kate.turvy@chicagobooth.edu.