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Teachers Need Tools

Teachers Need Tools

“I was never excited about how I was teaching, until I found ExEC. The tools bring the learning to life, and my students have never been more engaged!” – Doan Winkel, John Carroll University

Building a Curriculum

Like any profession, teachers need the proper tools. An entrepreneurship classroom should be buzzing, alive with active learning. Students should be:

  • experimenting
  • building
  • interviewing
  • failing
  • reflecting

Textbooks and their associated “tools” don’t deliver on that potential; slides and test banks, and case studies fall short of creating experiential learning opportunities our students deserve.  Our award-winning Experiential Entrepreneurship Curriculum (ExEC) gives you the tools. Literally!

Toolbox for Experiential Entrepreneurship Curriculum

The Tools You Need, When You Need Them

With ExEC, you get an LMS template, a full suite of detailed lesson plans and slides for each class period, an extensive assessment guide, and resource guides.

  • Our LMS templates allow you to hit the ground running so you don’t waste time organizing the course structure or assignments.
  • Our lesson plans walk you through each class period minute-by-minute to deliver every aspect of our curriculum, along with hints, tips and tricks based on years of interviews with our professors and students.
  • The assessment guide gives you a method to assess student process, not progress. This encourages skill development, meaningful learning about the market, customer, and problems, and an experimental mindset they can leverage no matter their career path.
  • With our curated resource guides, you get in-depth coverage of dozens of topics such as financials, legal issues, and team formation.

These tools are quite valuable for students, who have lifetime access to ExEC, as they navigate their entrepreneurial path post-college and find the need for this information.

Starting this fall, when you sign up for ExEC, you also get your very own experiential toolbox filled with the tools you need to deliver the experience we promise. For FREE!

Experiential Entrepreneurship Curriculum Toolbox

We provide you with:

  1. Spaghetti, marshmallows, tape and a tape measure to teach students why business plans fail.
  2. Mechanical pencils to teach students how to identify early adopters.
  3. Customer interviewing cards to teach students how to effectively interview customers.
  4. Post-it notes (because any good entrepreneurship educator needs lots of post-it notes!)

Tools Need a Process

When you sign up to teach with ExEC, you get access to a structured curriculum that engages your students  from day one in real-life learning experience. We are a team of entrepreneurs and educators who have been building this curriculum for years using the very same lean principles we train educators to teach their students.

More importantly, you get the tools necessary to engage students in practicing skills, actively. They learn:

Students should learn by doing during class time. You should not be explaining entrepreneurship topics to them, you should be inviting them to practice the skills real entrepreneurs use to deliver real value to real customer. With ExEC, the learning comes to life every class period. We enable you to guide them through practicing hard skills that entrepreneurs need to succeed.

Fall is almost here. ExEC has the tools you need to deliver an experience your students will never forget!

We built this experience for you, for your students. ExEC enables professors to easily shift away from the traditional stand-and-deliver model to a model where the real teacher is the students’ experience.

Build an Engaged Class this Fall

If you want the tools to get your students buzzing with the excitement of active learning, our Experiential Entrepreneurship Curriculum is your one-stop shop.

Dozens of professors are using the ExEC toolkit to bring entrepreneurship to life for their students. Request your preview today to get a jump on planning your Fall courses.

Missed Our Recent Articles?

Whether you are new to our community of entrepreneurship educators, or you’ve been contributing for years, we wanted to give you a list of the posts our community finds most valuable:

  • Recommended Tools for Teaching Entrepreneurship. Entrepreneurship professors need tools to teach skills. These are the best tools students can use to practice entrepreneurship.
  • “The best class I’ve taken!”  We all want a Dead Poets Society moment in our entrepreneurship class. One professor using the Experiential Entrepreneurship Curriculum got hers!
  • Why Textbooks Don’t Work. Textbooks are not an effective way to teach entrepreneurship. Experiences are. Students don’t want to read. They want to do. Engage students with the Experiential Entrepreneurship Curriculum.

Want More Tools To Engage Your Students?

We email new experiential entrepreneurship tools, techniques, and lesson plans regularly.

Subscribe here to get more tools in your inbox!

Join 6,000+ instructors. Get new lesson plans via email.

 

Faster Prep This Fall with ExEC

Faster Prep This Fall with ExEC

Prep your experiential class in days, not weeks!

A Structured Experience

Your students can learn the skills an entrepreneur uses to build something someone wants using our award-winning Experiential Entrepreneurship Curriculum (ExEC) .

Fall is coming. ExEC has the exercises your students want and the structure you need!

If you’re looking for a structured way to make your class real from day one, that engages your students, try ExEC. We built a blend of digital (for resources and assignments) and real-life learning experiences, and practice what we preach by interviewing our faculty and students, so we are continuously improving the experience for you and for your students.

An Engaging Experience

We’ve had overwhelmingly positive feedback from students and faculty, and we have grown from no schools adopting ExEC to over 50 schools adopting it in less than 2 years.

ExEC entrepreneurship curriculum at over 40 Universities including Penn State and the University of Nebraska

Here is what two of our professors had to say after experiencing ExEC in their classes:

Our Experiential Entrepreneurship Curriculum focuses on a few core topics that are essential to entrepreneurs:

Our founding team are entrepreneurs. We’ve spent years interviewing entrepreneurship faculty and students. This combined knowledge led us to build an evolving, award-winning entrepreneurship curriculum that probes topics in-depth that entrepreneurship textbooks gloss over.

We engage students in practicing skills, actively. Class time should be spent learning by doing, with professors guiding students through an experience where they can see the material come to life in a way that is meaningful for them. We built that experience for you, for your students. ExEC enables professors to easily shift from the ineffective sage-on-the-stage model of education to the guide-on-the-side model, because the real teacher with the ExEC curriculum is the students’ experience.

ExEC is the entire learning experience, giving students meaningful content and the tools to turn that content into action.

Engage your Students this Fall

If you want your entrepreneurship classroom buzzing with the nervousness and excitement of active learning, you are not alone.

There’s a community of entrepreneurial professors like you, and they’re using ExEC to bring entrepreneurship to life for their students. Request your preview today to get a jump on your fall courses.

Missed Our Recent Articles?

Whether you are new to our community of entrepreneurship educators, or you’ve been contributing for years, we wanted to give you a list of the posts our community finds most valuable:

  • “The best class I’ve taken!”  We all want a Dead Poets Society moment in our entrepreneurship class. One professor using the Experiential Entrepreneurship Curriculum got hers!
  • Why Textbooks Don’t Work. Textbooks are not an effective way to teach entrepreneurship. Experiences are. Students don’t want to read. They want to do. Engage students with the Experiential Entrepreneurship Curriculum.
  • Recommended Tools for Teaching Entrepreneurship. Entrepreneurship professors need tools to teach skills. These are the best tools students can use to practice entrepreneurship.

Want More Tools To Engage Your Students?

We email new experiential entrepreneurship tools, techniques, and lesson plans regularly.

Subscribe here to get our next lesson plan in your inbox!

Join 6,000+ instructors. Get new lesson plans via email.

 

Recommended Tools for Teaching Entrepreneurship

Recommended Tools for Teaching Entrepreneurship

“What are the best tools to teach . . .?”

It’s a question we get all the time from entrepreneurship professors. So we thought we would share the tools we recommend to teach your students critical entrepreneurship skills like:

  • Customer Interviewing
  • Prototyping
  • Financial Projection
  • General Productivity

In entrepreneurship education there are always new tools, tips, and tricks to discover and incorporate into your classroom. It’s overwhelming trying to keep up-to-date and know what is useful for your students to practice critical entrepreneurship skills.

As we prototype and refine our Experiential Entrepreneurship Curriculum (ExEC), we try hundreds of tools to determine what is useful as a learning opportunity, and what is a value for students on a very limited budget. Below are our choices for your students to learn critical skills they need to navigate the entrepreneurship landscape.

We sorted the list of tools we recommend below into categories so you can quickly learn what tools we recommend for different components of your course. We tested out hundreds of options to find the tools that provide the best value in terms of most engagement and provide a free option, at least for a short trial period.

If you have recommendations for tools your students love, please comment below with the tool and why they love it.

Customer Interviewing Tools

As we have discussed many times, customer interviews are the most critical element to validating a business model. Once your students have identified who to interview (early adopters), and where to find these people, motivating students to conduct real interviews can be challenging. As we heard from a professor who switched to using ExEC, students will often not get out of the building to interview customers each week because they are not comfortable interviewing real people.

Just like learning any skill, students need the proper tools to develop the confidence to interview customers so they can effectively validate their business model assumptions.

Here are our recommendations for customer interviewing tools you can incorporate into your classroom so your students feel confident conducting real interviews.

Otter.ai. Otter is a tool students can use to record (audio only), transcribe, and share interviews. With Otter, students can play, edit, organize, and share audio and notes from interviews from any device. This is a great tool for ensuring students do their interviews and enabling professors to review them and provide feedback very efficiently.

Interview Transcription Tools

Kahoot. As we practice what we preach, our ExEC team experiments with how exactly to teach students how to interview customers. This is a very difficult skill to effectively teach, but we think we finally nailed it!

customer interview tools

Our updated method of teaching customer interviews is using ExEC Customer Interviewing Playing Cards with an online collaborative quiz game to show students:

  • What their problem interviewing goals should and should not be, and
  • What questions they should and should not ask

Get familiar with Kahoot; watch this Kahoot demo video, and review the Kahoot questions here. Students love games, so take advantage of that and teach them interviewing through a gaming experience.

Lino. Like any good entrepreneurship professors, we are big fans of post-it notes. I mean, really big fans – we look for every way to use them to generate ideas and organize information. The problem we kept hearing from our professors with post-it notes is that it’s difficult (and expensive) for students to use them across many weeks of interviewing. So we discovered Lino, and we love it!

Think of Lino as an electronic post-it notes canvas. As students record and transcribe each customer interview, they can use Lino to map out their findings, to analyze their interview data, and to identify patterns in their qualitative data. Because it is all electronic, you can incorporate this into your LMS so you can monitor and assess your students’ progress.

Prototyping Tools

No matter what problem your students are working on solving, they need to know how to develop and iterate a prototype. This is such an important skill that in our most recent iteration of ExEC, we encourage our professors to start the semester off with students prototyping. In today’s digital world, and for most of us who do not have a maker space and staff at our disposal, prototyping is a digital affair. We found a variety of tools for prototyping websites and apps.

Website Prototyping Tools.

As we outline in our 60 Minute MVP exercise, building a functioning website with zero technical expertise is not as hard as it seems. With the following tools, any student can build a landing page (a simple, single-page website) that:

  1. Tells their customers the problem they are solving,
  2. Uses a video to demonstrate how they will solve the problem and
  3. Asks for some form of “currency” from their customers to validate demand.

Landing Page Tools. To create a simple landing page, we recommend using Wix or Weebly. Both offer free options, and both require no technical expertise as they are drag-and-drop, template website builders. There are slight differences between the two, for instance Wix offers handy tools such as photo filters and animated texts.

With either option, your students will be engaging customers in no time.

Explainer Video Tools. To engage customers on their landing page, your students should include a quick video that hints how their solution will solve the problem. We found a few tools that make creating explainer videos a breeze. These tools allow students to create engaging animated videos that are professional-looking, with a large selection of media, templates, and animation effects from which to choose.

  • Powtoon. The slide-based format of Powtoon allows students control over how to present information. Here is a much more in-depth review of Powtoon.

teaching video explainer tools

  • Animaker. This tool has one of the largest animation libraries of any comparable platform out there. Here is a much more in-depth review of Animaker.
  • Moovly. This tool contains one of the largest stock media libraries online. Here is a much more in-depth review of Moovly.

App Prototyping Tools.

Our students love ideas for apps, because they are products students constantly use throughout the day. As with websites, tools to build apps seem to be endless. We identified a few tools that students can use to develop interactive app prototypes to test our customer demand and usability. We recommend two categories – low fidelity (wireframing) and high fidelity (polished).

Low Fidelity

High Fidelity

  • inVision  (interactive prototyping tool)
  • Adobe XD (wireframe & design tool)
  • Proto.io (interactive prototyping tool)
  • Sketch (digital design platform)

teaching prototyping tools

We also recommend a few User Interface (UI) Design and User Experience (UX) Design tools.

With all these tools, students can create mockups of what they want their app idea to look and feel like, so potential customers can view and interact with it on mobile devices. Generally speaking, students may find it more difficult to work with Origami and Sketch unless they have more technical expertise.

One other useful tool is Overflow.io, which is slightly different in that it is a design tool focused on enabling user flow diagrams. User flow is the path taken by a prototypical user. Your students can map out screen-by-screen a customer journey from the entry point through a set of steps towards a successful outcome and final action, such as purchasing a product.

Financial Projection Tools

One of the most difficult aspects of entrepreneurship to teach effectively and engagingly is financials. Because students often struggle with the application of financial concepts, professors need a tool that makes financial modeling approachable and creates confidence in students. We could not find such a tool, so we built the Financial Projection Simulator to solve our problem.

teaching finance tools in entrepreneurship

This tool allows students to quickly iterate and identify a potentially viable revenue model in a rigorous way that doesn’t overwhelm them. We incorporated default values in drop down menus and instructions for researching more detailed estimates to create a more approachable way for students to experiment with assumptions in their financial models.

General Productivity Tools

We are champions of experiential education, especially in entrepreneurship. In an experiential course where students must practice idea generation, customer interviewing, prototyping, financial and business modeling, pitching, and selling, students can easily be overwhelmed and lose focus.

As we practice what we preach in building ExEC, we discovered a variety of tools that can keep students organized and engaged.

Customer interviews are the lifeblood of an entrepreneurial endeavor.

It is critical students keep every nuance and nugget of information from their interviews. Reviewing notes is an important way for them to improve their interviewing skills. And past interviews are a treasure trove of validation and potential marketing copy, so being able to capture and transcribe them is essential.

Capturing Interviews. To enhance their learning, students can record video of interviews – or meetings with cofounders, partners, investors, and other stakeholders – using Zoom. Zoom integrates with Otter, so students can very easily create transcripts of any video recordings.

When students watch videos of their interviews, they learn how to decode nonverbal reactions from customers, and also become more self-aware regarding their own nonverbal reactions. This is important because their reactions may sometimes influence the customer’s reactions, so increasing their self-awareness is very important.

Taking Notes. Students should also take notes (or have a friend take notes) while interviewing, to record their thoughts and reactions real-time. We find that taking notes on a computer creates the chatter of typing, which is a big distraction. So, we recommend going (sort of!) old school and writing notes.

One great tool for taking and sharing notes is Rocketbook, which are reusable smart notebooks. These notebooks connect to all the students’ cloud services (Google Drive, Dropbox, etc.) so they can easily send and organize their notes (if you get the Wave version, you microwave it to reuse it – how cool is that?!?!?)

Providing Context and/or Feedback. If your students (or you) need to provide feedback, Loom or Vidyard are a great way to record short video screen captures so the recipient can follow along, and can replay/revisit to fully digest the feedback. These tools is also great for students to provide context when asking for feedback.

In many situations, it is beneficial for students to be able to quickly set the stage for someone to provide feedback. For instance, when sharing documents, worksheets, notes, or assignments with professors, teammates, or customers, if a student can give some background and also make a clear and specific ask, it makes the feedback process much more efficient. A student can record a screen capture of a document, explain where they’d like feedback, why, and explain the context of the information. This context helps the reviewer provide very targeted and richer feedback.

Missed Our Recent Articles?

Whether you are new to our community of entrepreneurship educators, or you’ve been contributing for years, we wanted to give you a list of the posts our community finds most valuable:

  • “The best class I’ve taken!”  We all want a Dead Poets Society moment in our entrepreneurship class. One professor using the Experiential Entrepreneurship Curriculum got hers!
  • Textbooks Don’t Work. Textbooks are not an effective way to teach entrepreneurship. Experiences are. Students don’t want to read. They want to do. Engage students with the Experiential Entrepreneurship Curriculum.
  • Teaching Finance in Entrepreneurship. Finance is a difficult subject to teach in entrepreneurship. Our financial projection simulator is the best way to teach financial projections without overwhelming students.

Want More Tools To Engage Your Students?

We email new experiential entrepreneurship tools, techniques, and lesson plans regularly.

Subscribe here to get our next lesson plan in your inbox!

Join 6,000+ instructors. Get new lesson plans via email.

 

“The Best class I’ve taken”

“The Best class I’ve taken”

Kim Pichot, an entrepreneurship professor at Andrews University, watched a keenly intelligent student become disillusioned, before her eyes.

Kim Pichot
Assistant Professor of Marketing, Andrews University 

She’d taught him during his first year when he was eager to learn, quickly grasped complex topics, and had a perfect GPA. By the time Kim saw him again his senior year, everything had changed.

His demeanor had changed, he’d lost interest in learning, and he was on a quest to leave school, at one point asking her:

“What can I do to graduate? I just need out of here.”

Coincidentally, Kim had wanted to adopt a more experiential approach to her entrepreneurship class, so she decided to try the Experiential Entrepreneurship Curriculum (ExEC). Her disillusioned student reluctantly started working with ExEC’s structured, real-world experiences, and the result was nothing short of a Dead Poets Society moment:

Why Kim Adopted ExEC

Kim worked for the SBDC and SBI for over 20 years, helping guide and mentor over 300 founders and business owners. Along the way, she founded a consulting business. She brought that experience to entrepreneurship courses at Andrews University, where she was using a textbook, giving a midterm and a final exam, and using the Business Model Canvas, a strategic marketing plan and a business plan.

Kim knew the material wasn’t engaging her students. She wanted to improve her students’ takeaways, so she needed to update her course. Kim wanted to keep the Business Model Canvas and go much deeper with that kind of tool and approach. She doesn’t see the value in exams; they spread out the grading curve a bit, but she doesn’t believe they represent real learning. To her, experiential learning is the only effective method of education.

Kim met the TeachingEntrepreneurship.org team at the annual USASBE conference. She tried a few exercises with her students, and her classroom came alive! When she dug deeper into our award-winning curriculum, Kim thought to herself:

“I can have the type of classroom I really want without killing myself preparing for it.”

Kim was so happy with the experience she wanted to try the full ExEC curriculum on an elective course before using it in the university’s Interdisciplinary Innovation & Entrepreneurship Certificate (4 courses and a capstone ending with a demo day and real money). Next semester Kim will use ExEC in her elective course and in the Certificate!

This semester was Kim’s first using ExEC. She prepped before each class, barely staying ahead of the students. Her semester was a process of evaluating and responding based on how the students reacted to the curriculum, and the value they are getting from it. She saw students engaged in learning, developing personally meaningful concepts. At the end of each module, she thought “WOW!”

How Students Transformed

The class is a junior and senior elective, so Kim’s students are mostly taking a business minor, management major, or marketing major. The students took the course because they thought it would be an easy grade; as Kim related:

“The hardest part of this entrepreneurship class is that students are not coming in with a desire to start a business. It’s an elective.”

Students did not expect to spend time outside class working as a group, interviewing actual people, building real value. They expected the typical listen – learn – reflect/regurgitate routine. The students were in for a shock!

As Kim walked students through ExEC one step at a time, they understood the progression, the benefit they were gaining, and the skill set they were developing. Kim’s classroom became a hub of high energy every time they gathered. Music played, ideas flew around, experiments developed, feedback exchanged . . . the learning was real!

When the class got to the point of designing a landing page through the 60 Minute MVP exercise, students didn’t think they could do that in one class period. Yet at the end of the class, they all launched landing pages!

Students didn’t believe in themselves going in, and emerged having accomplished something amazing – building and launching an MVP in 60 minutes, with no technical expertise.

One group got 500 sign-ups for their concept. Another group made $300 the last week of class with a digital marketing consulting idea.

Another transformation related to financials. Kim’s previous students felt the financial lessons weren’t realistic. With ExEC, the students realized they could design pessimistic and optimistic projections based on fairly accurate assumptions. They saw how they could scale a product line or a business. Students understood how the number of clients or subscribers impacted real financial projections, and how to calculate the number of purchases necessary to cover costs given a certain percent margin.

The numbers became real! And now with our Financial Projection Simulator, we give professor’s a robust financial modeling tool that leads students through an experimentation process to find a financially sustainable business model.

Kim related that her students see how they can apply the set of entrepreneurial skills they developed in different situations. The physical therapy students commented that they can see pieces of ExEC they can use to introduce something new in the practice that will employ them. Overall, as Kim said:

“The students walk away with a much better, much deeper learning experience.”

How Kim Transformed

Kim began her journey with ExEC as an experiment. Compared to previous classes, Kim’s students using ExEC were more engaged. The business concepts her students developed were more complete, more accurately developed, and more powerfully presented. Her students walked away with more positive takeaways than previous semesters: a valuable skill set, a positive learning experience, an engaging class, and confidence in their abilities. Using ExEC, Kim provided a completely different learning experience to her students, and received a mountain of feedback about this being the best course ever!

“It’s exactly what I wanted this semester to be. I wanted it to be a higher engagement for the traditional student.”

Nothing is ever perfect, and Kim also encountered struggles. She adopted the curriculum at the last minute, so she did not have the luxury of planning in advance. (pssssst, now is the time to start planning for the fall – don’t wait, sign up now!) Many days, Kim arrived at work hours before class and used the time to familiarize herself with the lesson plan and concepts she delivered later that day. The structure of the lesson plans helped her prepare efficiently to deliver an engaging learning experience to her students:

“The way everything was laid out made it very easy for me to pick up and go.”

As with any good professor, Kim thought this group of students had endless potential. During the semester, she realized some were struggling to see the value of some experiences. To tackle this challenge, Kim began spending time each class session intentionally relating each assignment and activity to students’ career paths. This opened students to the possibility of the skills helping them create value in their specific career path, even if that path didn’t include entrepreneurship. As Kim related, students realized they mastered a lot of tools and skills they can use in their future to stand out.

“I don’t think there is a single student walking out of that classroom feeling like they wasted their time.”

Which brings us back to Kim’s intelligent, disillusioned student, and her Dead Poets moment.

When she adopted ExEC, Kim saw him perk up and get excited about learning again. At the end of the semester, she asked for written feedback, and this student asked Kim if he could provide his feedback orally (btw, tons teachers dream of a student doing this – we are all totally jealous!) He stood in front of the class and said:

“This one is by far the best class I’ve ever taken at this University!”

The rest of the class chimed in agreeing with the sentiment. Our goal is to ignite classrooms around the world with the same excitement and joy of learning!

If you have problems with students

  • Not engaging, just going through the motions of another class
  • Not understanding financial projections
  • Not believing in their potential to learn applicable skills

request a preview of our ExEC curriculum here.

teaching entrepreneurship

Missed Our Recent Articles?

Whether you are new to our community of entrepreneurship educators, or you’ve been contributing for years, we wanted to give you a list of the posts our community finds most valuable:

  • Textbooks Don’t Work. Textbooks are not an effective way to teach entrepreneurship. Experiences are. Students don’t want to read. They want to do. Engage students with the Experiential Entrepreneurship Curriculum.
  • Teaching Finance in Entrepreneurship. Finance is a difficult subject to teach in entrepreneurship. Our financial projection simulator is the best way to teach financial projections without overwhelming students.
  • Student Engagement Workshop. In this hour-long session, you will learn 4 techniques to engage all your students – those who are there to learn, and those who are there to pass!

Want More Tools To Engage Your Students?

We email new experiential entrepreneurship tools, techniques, and lesson plans regularly.

Subscribe here to get our next lesson plan in your inbox!

Join 6,000+ instructors. Get new lesson plans via email.

 

Teaching Finance in Entrepreneurship

Teaching Finance in Entrepreneurship

“When the P&L’s come out, students check out.” – Doan Winkel

We all face this problem when teaching the financial aspect of entrepreneurship. Students aren’t comfortable with the unknown, and often struggle with understanding the application of math or financial topics. This is a huge problem because financial modeling is such a crucial part of identifying and validating the business models students are working on.

So how do we balance creating a robust financial projection for a business model without overwhelming students?

Introducing the first version of ExEC’s Financial Projection Simulator (imagine fireworks going off in the background with AC/DC playing bagpipes and shooting flaming confetti!!!)

teaching finance in entrepreneurship

Incorporating feedback as we develop engaging lesson plans, we’ve added a fun way for students to experiment with their financial model to our comprehensive curriculum.

The Financial Projection Simulator leads students through an experimentation process so they can find a financially sustainable business model. Along the way, they discover the most important elements of a rigorous financial projection:

  • Customer Lifetime Value
  • Cost of Customer Acquisition
  • Cost of employee salaries (including benefits & taxes)
  • Initial capital investments
  • Unit costs
  • Legal fees
  • Etc.

Here is a quick overview of the simulator in action:

With a combination of default values in drop down menus and instructions for researching more detailed estimates, pilot students have reported this is a more approachable way to experiment with assumptions in their financial models. The simulator, “feels more like a game than a spreadsheet”, where they can quickly see the impact of their assumptions on the success of their business.

At each step along the way, we provide short, easy-to-understand tutorial videos so students understand what to input.

teaching finance in entrepreneurship

The format invites them to more deeply engage in learning about financial models.

No TAM-Based Estimates

ExEC’s financial simulator is also unique because it takes a strictly bottom-up approach to financial projections. Instead of largely inaccurate top-down/TAM estimates (e.g. “This industry is X billions of dollars and if we get Y% of it we’ll be rich”), which don’t take into account real-world difficulties and costs of customer acquisition, ExEC’s financial modeling is purely bottom-up (e.g. “Which channels will you use to acquire customers, what do you hypothesize your conversion rates will be, and how much will that cost?”) to give students a reality check on how viable their business model is.

Here’s more detail on how we approach this, and other areas of financial projections.

Revenue

As mentioned above, instead of wildly inaccurate revenue numbers based on a TAM / SAM approach, ExEC students estimate revenue based on the product price and how many times per year a customer will purchase that product. This leads to much more accurate evaluation of a business model, and an approachable way for students to get started. As we heard from a pilot  student:

“Even though it’s difficult to make our business profitable, this tool gave us ideas of concrete changes we could make in order to make it possible.” – UC Berkeley Student

Expenses

We offer an extensive set of expenses for students to consider, all of which have suggested default values, as well as instructions on how to calculate more detailed estimates to tailor those values to their business model. We’ve found this combination of default values, with pointers for more information, to make financial modeling much more approachable – allowing students to ease their way in and experiment with different combinations, without overwhelming them.

We’ve tried to make the simulator as comprehensive as possible without becoming anxiety-producing, so your students can feel confident their projections are sound.

Cost of Customer Acquisition

Students are often unsure the best channels to acquire customers, and how costly those channels are. They will want to default to social media channels, but they often do not understand the investment it requires to effectively leverage these platforms. We provide significant guidance so they understand what CAC is and the costs of various channels.

We have done extensive research to offer accurate estimates for CAC from the most likely channels students will choose. These drop-down menus offer students two benefits:

  • They don’t get overwhelmed having to calculate complicated customer acquisition costs
  • They work with realistic estimates so the conclusions about viability are more realistic

teaching finance in entrepreneurship

Of course students can also calculate and enter their own Cost of Customer acquisition estimates into the tool to get a more accurate sense of their marketing expenses.

Employee Salaries

Here we offer an expandable menu that includes accurate salary estimates for a wide variety of the most necessary jobs for a startup.

The tool also automatically calculates benefits and tax information, which are two very important aspects students often forget that have tremendous impact on a financial model.

Real Estate Costs

As with every section, the simulator  provides considerable guidance students can use to research particular markets and categories. Our goal is for students to understand the variety of financial inputs but also to understand where those estimates come from.

In every section of the simulator, we provide suggestions for ballpark costs, and also expandable menus with more detailed information and links to resources in case students want to dive deeper into a particular area.

teaching finance in entrepreneurship

The ExEC financial simulator gives students additional information in a variety of expandable menus, so they learn as they input their assumptions. One student mentioned:

“It makes it extremely easy to calculate various things. Helps you remember things that you may have forgotten.” – Northeastern Student

The power of this simulator is in the simplicity with which students interact with it, and the simplicity of the results. The ExEC Financial Simulator assesses the viability of a student’s business model as either red, yellow, or green. Students can very quickly see where they need to focus! In the example below, the simulator tells us the business model is not viable.

teaching finance in entrepreneurship

After working hard to provide what they think are accurate assumptions, most students will see red the first time they use this. Literally!

teaching finance in entrepreneurship

Students will feel disappointed that their business model is not viable.

How to WOW! Your Students

Bring a student up to the front of the class. Pull up his/her simulator on the projected screen. Walk through this example, live, in a couple minutes to turn a non-viable business model into a viable business model. Show your students in real-time how they can turn their business model from from red to green!

teaching finance in entrepreneurshipteaching finance in entrepreneurship

Students can quickly experiment by changing inputs to figure out how to achieve a viable business model. This leads to a powerful discussion in class about why they changed certain assumptions, and whether the assumptions are accurate.

Within minutes students understand how a variety of factors impact their financial, and therefore business, model! And it is fun!

This simulation lets students experiment with different revenue models very easily. This is important because it allows them to quickly iterate and identify a potentially viable revenue model in a rigorous way that doesn’t overwhelm them.

If you would like to play with the financial projection simulator, request a preview of our Experiential Entrepreneurship Curriculum (ExEC) today!


You Told Us You Want More Student Engagement

We’ve been listening!

Join us for our “4 Ways to Increase Student Engagement” webinar, where you will learn tips and techniques to engage all your students in a rich learning environment that excites and inspires them.

Register now for this webinar on 4 tips to double student engagement in your class next fall!


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2019’s Top 5 Free Entrepreneurship Lesson Plans

2019’s Top 5 Free Entrepreneurship Lesson Plans

“Your posts help me keep my students engaged – they and I thank you!” – ExEC Curriculum Professor

Based on the popularity of our 2018 Top 5 Lesson Plans article, we’ve update our list based on feedback from our fast growing community of now 4,600-strong entrepreneurship instructors.

The following are all lesson plans we’ve designed to transform your students’ experience as they learn how to generate ideas, interview customers, prototype and validate solutions.

5. Idea Generation vs. Problem Generation

Many of our students believe an idea is the heart of entrepreneurship. In this lesson, we shatter that assumption, and replace it with an appropriate focus on customer problems.

We want your students to develop ideas that are more feasible, impactful, and creative.

This is the toughest challenges entrepreneurship professors face. Student ideas tend to be a repetition of low-impact or infeasible mediocrity. You want more from them. We can help! We focus your students on problems in this lesson, because the best business ideas come from problems.entrepreneurship, teaching, problem, solution, idea

After this lesson, your students’ ideas will be:

  • More feasible because they’re focusing on serving people they care about.
  • More impactful because they’re paying more attention to problems than they are products.
  • More creative because they’ll use those problems as inspiration.

View Idea Generation vs. Problem Generation Lesson Plan

4. Personal Business Plan

In this exercise, shared with us by Rebeca Hwang from Stanford University, students create a business plan about themselves. Students approach themselves as a company, and apply the tools they learned during their entrepreneurship course to understand how they add value to the world.

Students answer questions about their future vision and about their present plans and passions. One of our professor’s favorite components of this exercise is that students choose who grades their personal business plan (and that our colleagues at Stanford provide a very robust rubric)!

teaching entrepreneurship personal business plan

Through this exercise, students:

  • Learn to see themselves as a company,
  • Learn they must continuously invest in and develop a plan for their future,
  • Embrace the tools and methodologies they learned in the course because they are applying them to their future,
  • Understand learning is meaningful when applied to a personal context

View Why Business Plans Fail Lesson Plan

3. Teaching Customer Interviewing

We consistently hear from faculty that teaching customer interviewing is their biggest challenge. In this lesson plan students use a combination of ExEC Customer Interviewing Playing Cards, with an online collaborative quiz game (Kahoot), to learn:

  • What their problem interviewing goals should be and should not be
  • What questions they should and should not ask

customer interviewing teaching entrepreneurship

Students then get an interview script template they can use as the basis for their problem discovery interviews.

This exercise teaches your students:

  • What objectives they should and should not attempt to accomplish during a problem discovery interview and why,
  • What questions they should and shouldn’t ask during a customer discovery interview and why,
  • What a comprehensive interview script book looks like

View Customer Interviewing Cards Lesson Plan

2. 60 Minute MVP

One of our most popular lesson plans is the 60 Minute MVP. During this class, students launch an MVP website, with an animated video and a way to take pre-orders, in an hour with no prior coding experience. One of our professors told us after running this exercise:

“One student described it as like a Navy Seal mental training exercise. Not sure it was that intense, but they were amazed and proud that they got it done.”

Your students will love this class period; they progress from the anxiety of the challenge confronting them (build a website in 60 minutes) to the elation of their journey (launching a website they built in 60 minutes). This exercise creates tremendous energy in your classroom. Students create something real.

On the lesson plan page you can view an example video students created in about 20 minutes, built around actual customer problem interviews:

You can also view a great example of a website built in just 60 minutes:

Your students will create landing pages like thisUpscale dining at its finest!

Some critical learnings for your students are the true meaning of Minimum Viable Product (MVP), that it’s easier to launch a product than they thought, and that the easiest thing about building a business is launching that product.

View 60 Minute MVP Lesson Plan

1. Teaching Customer Observations

During our years of research on what topics entrepreneurship professors struggle to teach, we heard “customer interviewing” over and over again. Our ExEC curriculum includes a robust method of customer interviewing, but customer observation is another great way to gather customer information. So we developed our Teaching Customer Observations lesson plan to help students learn learn the value of seeing how their customers experience problems, as opposed to imagining their customers’ problems.

In addition to our community thinking this is a powerful experience in the classroom, this exercise also won first place in the Excellence in Entrepreneurial Exercises Awards at the USASBE 2019 Annual Conference!

This exercise positions your students to observe customers in their natural settings. This allows them to discover new business opportunities and increase their empathy and behavioral analysis skills.

Our goal with this exercise is to teach students to have an empathy picture/analysis that frames the problem they are trying to solve before they jump to a solution. Having this clear picture will allow them to come up with better creative solutions.

During this two-class exercise, your students will experience customer empathy and how to plan and translate an observation experience into ideas for products and services. This will provide the following benefits:

  • Introduce students to a powerful tool to gather information on customer experience in real life situations. This allows students to avoid predicting customer behavior by actually observing it.
  • Students practice how to listen with their eyes in order to understand what people value and care about, & what they don’t.
  • Provide a common reference experience for expanding on topics later in the course.

View Teaching Customer Observations Lesson Plan

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If you are looking for a fully structured, experiential entrepreneurship curriculum, with a semesters worth of lesson plans that students love, you don’t need to reinvent the wheel.

We’ve done the work for you.

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Changing How You Teach Entrepreneurship: Georgann Jouflas

Changing How You Teach Entrepreneurship: Georgann Jouflas

It’s hard to engage students who are simply taking a class.

Like hundreds of educators, Georgann Jouflas was trained to teach entrepreneurship in Steve Blank’s Lean Launchpad methodology.

 

Like hundreds of educators, she struggled to adapt that curriculum from Stanford University and University of Berkeley MBA students to teach her students.

 

Georgann teaches at Colorado Mesa University in Grand Junction, Colorado. The views are spectacular.

So are the students! Georgann eventually came to understand that Stanford and Berkeley MBA students are trying to launch actual companies, whereas her students are taking a class. One or two every so often might want to try starting a business. Because of the different motivations and contexts, she struggled to adapt the Lean Launchpad approach to teach her course.

Georgann struggled to create meaningful learning experiences for her students.

Teaching A Typical Entrepreneurship Course

At Colorado Mesa University, like many other campuses around the world, Georgeann is teaching an entrepreneurship course, not an accelerator cohort. She needed a curriculum that was a better fit for students taking an entrepreneurship course.

She wanted to teach her students how to discover their passion and how to solve problems, not just work with ideas.

Georgann’s students needed to deeply engage with understanding the power of hidden assumptions, and how to prototype.

teach entrepreneurship

She wanted her students to understand the importance of customer interviewing, but more importantly, she wanted them to learn how to interview customers.

She knew gathering information from customers was critical, and that her students weren’t really learning that under her current course structure.

Georgann found her students faking validation; they would not get out of the building to interview customers each week because they were not comfortable interviewing people. She felt like a failure because she couldn’t get her students to get out of the building and conduct their interviews.

So, she decided to switch to teach with a new, fully experiential curriculum:

teaching entrepreneurship

Experiential Entrepreneurship Curriculum

15 weeks of structured plug-n-play experiential modules covering idea generation, problem validation, customer interviewing, prototyping, financial projections, and more!

The main value to Georgann is that ExEC coaches students into a comfort zone with interviewing customers so they actually do it, learn from it, and gain confidence.

“[I tell my students] if they get good at talking to people . . . listening to their clients, and asking questions, that’s a tremendous skill. So I’m really happy with that. Before they were doing that but they weren’t really doing it, and now we’re validating that they’re doing it.”

Why Teach with the Experiential Entrepreneurship Curriculum?

At the end of each semester using the Lean Launchpad, she was really frustrated with the experience of teaching the course. She didn’t believe her students were learning as much as they could or should, and weren’t very engaged in the learning process. A colleague of hers was sharing her excitement with Georgann about this new way she was teaching her entrepreneurship course. Her colleague was talking about a buzz of activity, about a classroom filled with engagement and excitement, about students deeply learning core entrepreneurial skills. Her colleague shared that she was using ExEC. Georgann got excited about creating this learning environment for her students.

We asked Georgann to share what she likes about using ExEC in her entrepreneurship course:

“The main thing I love is that it really gets [the students] out interviewing people. It gets them comfortable with the process.”

Georgann also shared that she enjoys working with the plug-and-play modules, because they are very easy to follow and to use. She feels empowered because she gets plenty of background material and then the applied exercise with each lesson plan. Perhaps more than anything, Georgann reports that she enjoys the experiential nature of the curriculum, because she isn’t left having to think up what exercises to use to engage the students in the learning.

“Interviewing customers is so far out of their comfort zone, but the interview script generator is tremendous. Before they didn’t know what to ask, so they just didn’t do it. Now they feel more comfortable.”

Georgann rediscovered the excitement of teaching entrepreneurship. Her students enjoyed learning the skills an entrepreneur uses to build something someone wants.

Here is the full interview with Georgann that digs much deeper into her experience searching for a new curriculum and adopting ExEC.

If you have problems with students

  • Not engaging
  • Lacking confidence doing their interviews
  • Faking their interviews

request a preview of our ExEC curriculum here.


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Entrepreneurship Syllabus: Experiential Learning Across the Curriculum

Entrepreneurship Syllabus: Experiential Learning Across the Curriculum

The nerve center of any entrepreneurship course is the syllabus.

The syllabus creates a student’s first impression. It sets a tone for the course, and for the relationship between professor and student. A syllabus conveys information about expectations. It is a contract between professor and student.

We would love to see your syllabus built in an entrepreneurial way. But we know that’s not always possible. We asked our community of over 4,000 entrepreneurship educators to share their syllabi, and based on the common courses we saw, we developed a few syllabus templates you can use. Each syllabus injects experiential learning into your course from the first day until the last.

Your students will be engaged from the first experience in your classroom!

Each sample syllabus outlined below focuses on a variety of readings, examples, discussions, and experiential exercises students can use to explore and apply the principles of entrepreneurship in a variety of courses. 

Creativity & Innovation Sample Syllabus

Creativity is one foundation of successful businesses. Whether in the for-profit, not-for-profit, or public sector, organizations need employees who are creative thinkers and can thrive in an organizational climate that fosters innovation.

DOWNLOAD YOUR SAMPLE SYLLABUS

Introduction to Entrepreneurship Sample Syllabus

Entrepreneurship can be considered a process of economic or social value creation, rather than the single event of opening a business. This course focuses on opportunity recognition, assembly of the financial and human resources needed to develop the idea, and launching the new venture.

DOWNLOAD YOUR SAMPLE SYLLABUS

New Venture Creation Sample Syllabus

Creating a venture is one manifestation of entrepreneurship. Students in this course will have the opportunity to develop an entrepreneurial toolkit that allows them to successfully innovate in whatever professional life they choose to lead. This course focuses on problem identification and solving, customer interviewing, and prototyping.

DOWNLOAD YOUR SAMPLE SYLLABUS

Social Entrepreneurship Sample Syllabus

Social entrepreneurship can be explained as the practice of identifying, starting and growing successful mission-driven for-profit and nonprofit ventures. These organizations strive to advance social change through developing innovative solutions to problems that plague communities, cities, countries, and systems.

Through experiential exercises, guest speakers, and classroom dialogue, students will learn to think and act opportunistically with a socially-conscious business mindset. Topics will include problem identification, customer interviewing, prototyping, financial projections, business modeling, and storytelling.

DOWNLOAD YOUR SAMPLE SYLLABUS

MBA Entrepreneurship & Innovation Sample Syllabus

In this experiential, hands-on course, students will learn the customer-development approach to building products and services. More specifically, students will learn how to systematically identify and test assumptions to make decisions to pivot, proceed, or restart based on customer insights and evidence gathered.

DOWNLOAD YOUR SAMPLE SYLLABUS


What’s Next?

In upcoming posts, we talk about our evolving experiential curriculum, how to teach students about financial projections, and how to enable your students to tell a story people will remember!

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More Wish Game: Entrepreneurship in Action

More Wish Game: Entrepreneurship in Action

“I look forward to The Wish Game every week – it’s so exciting to learn like this.” – J.L. (student)

A Quick Review

In my MBA course, I am running the Wish Game all semester, based on an exercise I heard about from Rebeca Hwang. Students wrote down 3 big, specific wishes on the first day, such as being able to meet a celebrity, or visiting a certain place. I choose two people to be the wish grantees each week. The rest of the class works all week to deliver those wishes at the beginning of the next class session. 

This exercise is about hyper-collaboration, so all students benefit by working together under considerable constraints. Student learn entrepreneurial skills like ideation, customer interviewing, prototyping, selling, and mobilizing resources through iteratively practicing them.

The First Wish

My students didn’t do a very good job with their first wish, which was a test one for my son (to see the Mona Lisa). When brainstorming ideas, they began to think creatively, to stretch their boundaries of what was possible. But when it came time to deliver the wish, it was disappointingly simple, non-engaging, and awkward.

We debriefed how it could have been a more impactful experience for both my son and for them. They could have created the room to match the actual room the Mona Lisa was in. Cleveland has an incredible art museum. They could have reached out to see how they could help (maybe providing space, or design help, for instance). The students felt good accomplishing the delivery, but also felt bad that it wasn’t a more powerful experience for my son. I read in their weekly reflection about the need to

  • organize and delegate more effectively,
  • share ideas quickly, and purposefully engage the entire group,
  • more quickly try (prototype) an idea
  • keep the wish grantee’s emotions in mind, as a motivating factor

“Our group wants to WOW! our classmate who we’re delivering a wish for. Now we know how hard we have to work to make that happen.” – M.A. (student)

The First “Real” Wishes

Once I split the class into two groups, I chose two wishes, one for each group to grant. The first week I chose the following:

  • pitching in a Chicago Cubs game
  • repelling down the John Carroll University clock tower
Administration Building (ca. 2003), John Carroll University

From observing groups in class, each group did a much better job of interviewing the wish grantee this time. They asked deep questions about why that particular wish, about the specific sights, sounds, smells, emotions, memories, etc. surrounding the desire for that particular wish. I could see the energy and the excitement in the students as they started to grasp how powerful this experience could be, if they gave themsevles to it!

For the wish to pitch in a Cubs game, the group created a player in the MLB The Show 18 video game, and plugged in a Playstation to the classroom screens. The grantee had requested walk-up music (country music, unfortunately!), but due to some technical glitches the group wasn’t able to play it exactly when he entered the room.

The grantee was wearing his Cubs jersey, had steamed hot dogs with ketchup and tomato waiting for him, and pitched an inning as himself on the Playstation.

For the second wish, repelling down the JCU clock tower, the group right away asked the JCU President for permission to either repel down the clock tower, or to at least take the grantee to the top of the clock tower. Both options were denied by the university’s Director of Regulatory Affairs and Risk Management. The group apparently struggled mightily after this point with how to deliver the wish if they could not get him into the clock tower, so they defaulted to purchasing him a John Carroll University flag and a framed picture of the clock tower.

Debriefing the Wishes

I could tell both groups felt a bit defeated, particularly the clock tower groups. I encouraged them, and gave them permission, to not hold themselves back. They needed a pep talk, and I delivered. I understand it is really difficult to think, within an academic course, in such a way to deliver amazing experiences. Students reminded each other that they were letting each other down, they shared that they knew they could dream bigger, and could put more effort into execution.

“We could have done more, and should have done more. We just didn’t believe in ourselves.” B.H. (student in the group delivering the clock tower wish)

The class brainstormed some ideas for them to allow themselves to share crazy ideas. Many students mentioned they didn’t want to seem too crazy, or sound stupid, or set the group up for failure. As one student opened up and was vulnerable in debriefing, others supported him or her, noting that it was good to share and that it helped them all succeed.

I left that class feeling disappointed, but also optimistic that they were catching on.  This experience is about letting go of assumptions and safety, and giving themselves permission to practice critical skills that will help them succeed in their future. I think they are starting to understand that.

Ultimately, I want to create a safe space where they can dream really big, they can try and fail, and they can give memorable moments to each other

The Next Wishes

The next wishes I pulled from the bag were:

  1. To make homemade wine
  2. To own a bottle of Pappy Van Winkle 23 Year bourbon

My hope was for the groups to continue to grow their confidence to stretch and deliver a richer, more creative experience each week. What I discovered this week was that they still, basically, hit the easy button. I can’t say I blame them – who knows what I would be comfortable doing had my MBA professor thrown this curveball course at me. I realized I have my work cut out for me to push them off the cliff so they can learn to soar.

For the make homemade wine wish, the easy button was to purchase the student a kit and directions to actually make wine at home. A few members of the group explained what everything was, where they got it, and their thought process behind the wish delivery.

From Fermented Grapes (https://www.fermentedgrape.com/making-wine/)

In the wish grantee’s reflection, I learned that his family made wine for many generations, but stopped recently. He wanted to learn more about making wine so his family could make wine together. What a fantastic experience that would be! I asked him for feedback after he received his wish. He said all the requisite pleasantries, thanked the group for the thoughtfulness, talked about how excited he was to try it out. But I knew from his reflection that he was excited to smash grapes and really dig into it. I have a feeling he was a little disappointed. I know I was; my students are stuck at easy.

Purchasing the supplies to deliver a surface-level wish is easy. Creating an emotional experience within a wish delivery is really, really, really hard.

The second wish this week was the student wanted to own a bottle of Pappy van Winkle 23 Year bourbon from the Buffalo Trace Distillery. This group could not deliver the wish on Tuesday, because they did not get a shipment of some things they needed (they and I blamed the Polar Vortex!) so they will deliver this wish the following week.

In reading their reflections, I discovered they first investigated actually purchasing this bottle of bourbon. They quickly realized it was far too expensive for their budget (NOTE: each student contributes $10 each week and I contribute $50 each week, and what isn’t spent rolls over. At this point, there is nearly $700 as teams have spent very little). The next option they investigated was very interesting.

Apparently, someone suggested they purchase an empty bottle, fill it with cheap bourbon, and seal the bottle. A long discussion of ethics ensued, and the group eventually decided they would do the right thing. I think what they ended up doing was to purchase a few empty bottles of various bourbons the student mentioned he wanted to own, and then purchase him a gift card to a local bar for a few glasses of the particular bourbon he wants. Again, they hit the easy button. They purchased empty bottles, and called around to find a bar that served this particular bourbon.

Debriefing the Wishes

We talked again about ideas for creating more value for the wish grantees. I encourage students to put themselves in the grantees shoes. I want them to imagine the excitement as the anticipation builds, not knowing exactly what the wish will look and feel like. And then I ask them to imagine the feeling when it doesn’t live up to expectations, let alone WOW! them. The looks and the nods tell me they hear what I’m saying, and they understand why I am pushing them. But I wonder if they really get the opportunity?

Again, I urge them to think big, to not keep their visions limited to the classroom space. The students keep thinking that they must deliver the wish in the classroom, but I remind them they can deliver it somewhere else, they just need to capture pictures or videos to share with everyone else because the entire class can’t go.

“We keep thinking like business students, not like entrepreneurs. I know we are too focused on executing and not enough on being creative. Between the 13 of us in our group, we have so many resources, and such a large network, but we haven’t tapped into it yet.” A.S. (student)

We don’t talk about the bottle of bourbon wish because he doesn’t know what is in store. But we brainstorm ways to push the proverbial envelope with the wine-making wish. I explain they could have had the student who wanted to make wine smashing grapes in a barrel. Or they could have sent him to a vineyard, or at least called people who run vineyards to get ideas and possibly collaborate.

The Next Wishes

The next wishes I pulled are

  1. Play in a room full of puppies (especially golden retrievers)
  2. Visit Greece

I hope they can go big. As I observed the groups interviewing, they again asked great questions of the grantee, to understand why this wish was so important, and what aspects were most important to focus on. The group working on the puppies quickly started calling kennels and shelters, and I believe even found an Uber-for-dogs kind of service that would deliver dogs. Their ideation and quick action is promising.

The group delivering the Greece wish seemed to focus on creating the Greece vibe in the classroom. I heard them talking about food, about renting furniture, about scents, about sand and sun. I’m eager to see if they actually transform the classroom into a Greek scene (particularly Santorini, which the grantee specifically mentioned).

Santorini Greece, by Pedro Szekely

What I am asking my students to do is something very new and scary for them. I want them to learn in an innovative way. Different is scary, I get that, so I do everything I can to give them the space and safety to try and to fail, to learn and to push further next time. They are still dipping their toes in the water. I hope soon they will decide to jump into the deep end, because I know they can swim. And even if they can’t, I have plenty of life preservers.

Beyond The Wish Game

I invite my students to work on a side hustle during the semester. I told them is The Wish Game is like their job, their 9-to-5 gig. They have to be there every day, it’s what pays the bills. But like an entrepreneur, they can also work on the side on an idea they want to start and grow.

Some students engaged this opportunity, others have not. I’ve given them tools to

  • identify a problem they are passionate about solving
  • identify who early adopters are for a potential solution
  • interview early adopters to validate a problem exists
  • pivot the problem and/or the early adopter segment
  • build an MVP landing page

A few students connect with me outside class asking for feedback and guidance on their side hustle. I see many of them working on something, but similar to a real scenario, they don’t spend much time on it because life takes over and this gets pushed aside. We debrief each week what some are doing, what they are learning, they ask me questions about various assumptions and curiosities they have around starting a business.

I give my students the tools through our learning management system and guide any of them who want guidance through the journey of turning their ideas into reality. This is an opportunity for them to engage or not, to make choices about how they spend their time and resources. Much like an entrepreneur must decide how to spend her time – with family or building a business – and his resources – on a vacation or building a business.

Want To Follow Doan’s Journey?

We will run a series of blog posts highlighting Doan’s journey throughout his semester-long Wish Game Course this Spring.

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Winning 1st Place at USASBE 2019

Winning 1st Place at USASBE 2019

This year’s USASBE conference, a gathering of hundreds of the best experiential entrepreneurship instructors from around the world, was a harrowing one for us.

We survived a strep throat breakout, an unimaginably poorly timed dead laptop, an all-nighter prepping exercise kits, and lost luggage.

Despite the challenges, or perhaps because of them, this was our favorite conference yet. We shared, we learned, and we got energized to improve our product and process to provide you and your students more value.

This year we:

  • Had 100+ people show up to our TeachingEntrepreneurship.org Happy Hour,
  • Interviewed Steve Blank, the godfather of evidence-based entrepreneurship,
  • Ran three sessions, featuring experiential entrepreneurship exercises from our ExEC curriculum,
  • and the highlight….

We won the Excellence in Entrepreneurial Exercises (3E) competition!

Winning the 3E competition is the highest achievement an entrepreneurship exercise designer can win – the Super Bowl for entrepreneurial pedagogy nerds (that’s us!).

This win isn’t about lower-case us (Justin, Federico, Doan and the rest of the TeachingEntrepreneurship.org team). It is about US – the first version of this exercise was inspired by our work with you, the TeachingEntrepreneurship.org community.

This award is recognition for the work we all do, for the feedback and engagement you have generously provided over the past few years.

The recognition is not an arrival point, but is validation we are on the right track, and an inflection point to co-create even more value for our students.

After winning the 3E competition, Justin and Federico quickly turned their attention (until 4am!) to assembling curriculum kits for our happy hour.

Despite just three hours of sleep, Justin (we call him The Champ!) brought his full high-fiving, chair-jumping energy to the competition the next morning, presenting our Toothbrush Design Challenge with an unparalleled passion that inspired the audience and judges. It was a sight to behold.

 

We also sat down for an hour-long, 1-on-1 interview with Steve Blank on the future of entrepreneurship education.

Thanks to your questions, we had a fantastic conversation that covered:

  • the ideal class an entrepreneurship major should include,
  • the weaknesses of customer development and Lean Startup,
  • the academic research around Lean Startup, and
  • how to balance exposing students to the harsh realities of entrepreneurship, while still making entrepreneurial skills accessible to all students

Click here for the full video as soon as it’s released!

And of course, we had a wonderful time hosting happy hour on Friday night. We celebrated our collective success, and enjoyed demoing some new ExEC lesson plans:

Thank you, for supporting us, for challenging us, and for sharing our passion with your students and colleagues. Our success doesn’t happen without you!

Florida was an amazing host, but we’re already planning for next year’s USASBE conference in New Orleans. We hope you join us!

If you want to introduce your students to the #1 Experiential Entrepreneurship Exercise, request a preview of ExEC here