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“The Best Entrepreneurship Curriculum Available”

“The Best Entrepreneurship Curriculum Available”

The Experiential Entrepreneurship Curriculum (ExEC) will help your students learn:

  • Idea generation
  • Customer Interviewing
  • Financial modeling
  • MVPs and prototyping
  • Pitching and storytelling

In a way that…

You’ll Love to Teach

entrepreneurship curriculum

Mark McNees and the Florida State University entrepreneurship teaching team have been impressed by ExEC’s award-winning approach. So much so that they’ll be adopting it at both their Tallahassee and Pensacola campuses this Fall.

online entrepreneurship lessons

Dr. Samantha Fairclough of the University of Nebraska-Lincoln knew the way she previously taught entrepreneurship “isn’t working for me. The students hate it. I hate it. I don’t enjoy the book.” She decided to ditch all textbooks and was searching for readings and articles she could use instead when she found the Experiential Entrepreneurship Curriculum (ExEC). Read more about Samantha’s experience adopting ExEC in her classroom. 

Experiential Entrepreneurship Curriculum Logo

A Winning Approach

In addition to winning praise, ExEC exercises have won USASBE’s prestigious Experiential Entrepreneurship Exercises (3E) competition, the last two years in a row.

Entrepreneurship Education

This competition is judged by entrepreneurship professors who know how hard it is to engage all students – and these exercises have won because they do precisely that.

Better experiences create better engagement.

Experiential Entrepreneurship Curriculum Logo

Peer Reviewed

The 60-Minute MVP exercise continues to be both a professor & student favorite.  Recently, it was also published in the Entrepreneurship Education and Pedagogy Journal

Academy of Management Learning & Education review of Experiential Entrepreneurship Curriculum

And ExEC has been reviewed in the Academy of Management Learning & Education, the leading journal on the study of management learning and education.

Learn more about ExEC in Academy of Management Learning & Education.

80+ Universities Now Use ExEC

Teaching experiential entrepreneurship courses is trending worldwide. We currently have 80+ universities teaching ExEC, including:

  • Virginia Tech
  • Penn State
  • Marquette University
  • TCU
  • Oklahoma State University
  • University of Nebraska-Lincoln

These diverse universities have adopted the ExEC curriculum into their classroom, and it can help your students too:

university entrepreneurship

Kim Pichot of Andrews University met the TeachingEntrepreneurship.org team at the annual USASBE conference. She tried a few exercises with her students, and her classroom came alive! Kim was so happy with the experience she wanted to try the full ExEC curriculum. Read about her experience using ExEc in her university’s Interdisciplinary Innovation & Entrepreneurship Certificate (4 courses and a capstone ending with a demo day and real money).

teaching creativity

Like hundreds of other entrepreneurship professors, Georgann Jouflas of Colorado Mesa University struggled to adapt the Lean Launchpad approach for her course. Rather than an accelerator cohort, she needed a comprehensive curriculum that was a better fit for students taking an entrepreneurship course. Learn how ExEC helped Georgann transform her students’ learning experience. 

Experiential Entrepreneurship Curriculum Logo

Online or In-Person

There are two versions of ExEC: one we’ve optimized for teaching in-person, and the other which we’ve optimized for teaching online and, especially relevant this Fall…

You can seamlessly transition between the two, even mid-term.

Don’t Reinvent the Wheel

We’ve spent years testing and iterating a structured set of comprehensive exercises that we know teach entrepreneurial skills in an engaging way – online or in-person.

Why waste your time trying to tie together a set of unrelated exercises you compile from around web? Use a set of rigorous, cohesive lessons that will engage your students.

 

Use the “Best Entrepreneurship Curriculum Available”

Check out ExEC, engage your students and give them access to the best tools available.

Experiential Entrepreneurship Curriculum Logo
60 Minute MVP [ExEC Online: Express Pack]

60 Minute MVP [ExEC Online: Express Pack]

We’ve fast-tracked the development of new online-ready exercises which you can use individually or as a set, called the ExEC Online: Express pack, available free through June!

Our final lesson, 60 Minute MVP, is ready!

60 Minute MVP ExEC Online image Free Lesson

Based on the extremely popular in-person version of this exercise, the online version of the 60 Minute MVP will have your students designing experiments to test demand just like they would if they weren’t under lockdown. They will:

  1. Create a landing page
  2. Add an explainer video and then
  3. Start accepting pre-orders

The key to thriving in the face of high uncertainty and limited resources is efficient experimentation. With that in mind, this exercise will show your students how to quickly reduce the uncertainty of their business model by helping them launch a Minimum Viable Product (MVP) to measure demand for their products/services.

Almost more important though…

This exercise is a ton of fun!

Students are excited because they’re doing something they didn’t know they had the skills to do, and it’s a great time for you because students are engaged in creating and sharing something with you and the rest of the class.

Get the 60 Minute MVP Lesson

Get All Four Free Lessons

The ExEC Online: Express Pack is a collection of free, interactive, online entrepreneurship lessons available through the rest of this term that you can easily plug into your class individually or as a set.

In addition to the 60 Minute MVP lesson plan, we’re releasing three other exercises that are not only engaging, but particularly relevant in this time of uncertainty:

  1. Problem-Inspired Idea Generation: We know customers don’t buy products, they buy solutions to problems – and right now people’s problems have changed dramatically. This exercise will show your students a systematic way to identify new opportunities inspired by their customer’s real-world problems that is particularly helpful during times of disruption like we’re experiencing right now.
  2. Financial Projection Simulator: With a global recession looming, it’s essential our students understand the elements of a robust financial model, and how to develop a sustainable one. This exercise makes finance approachable by turning what would normally be an overwhelming series of numbers, into a game-like experience that enables students to experiment with many different financial models.
  3. How to Interview Customers on Lockdown: Now that business model assumptions have been flipped on their head, it’s more critical than ever that students learn how to effectively talk to customers to discover what problems they’re facing. A person with the skills to learn about how this new world will effect people individually, is a person that will thrive during this, and any future dramatic changes. This lesson will help students understand how to find customers to talk to, what questions to ask, and most importantly, why asking them will form the basis of a successful business model.

If you’re interested in using any of the exercises from the ExEC Online: Express Pack, please click here.

Due to the accelerated pace at which we’re releasing these lessons, the first iteration of the ExEC Online: Express Pack is designed for use in colleges/universities in the US and Canada. Future iterations will be accessible to students across a wider range of environments.

Regardless of who or where you teach, we welcome you to request access and we’ll notify you if, and as soon as, we’re able to bring your students on board!

Get All the ExEC Online: Express Pack Lesson Plans (Free)

Know an Entrepreneurship Instructor?

If you know anyone who these new lessons might help, please invite them to participate! You can:

Thank you for all the work you’re doing teaching and supporting young people during this challenging time – we’re grateful to have an opportunity to support you, and look forward to helping you however we can!


Join 8,000+ instructors and get new lesson plans via email!

Virtual Workshop: Engaging Students Online

Virtual Workshop: Engaging Students Online

Let’s be honest. Teaching to a screen isn’t as fun as teaching in person. In person you can:

  • See if students are engaged
  • Have lively discussions
  • Connect with students

None of those are easy to do online, and because of it, teaching online can be more draining and less enjoyable.

Online Teaching Best Practices

Interested in learning how to teach online in a more engaging way? How about learning best practices in a live, “practice what we preach” environment with other entrepreneurship instructors from around the world?

Help launch the Engaging Students Online Virtual Workshop!

You’ll Learn

Techniques for making your online…

  • Lectures more engaging
  • Discussions more interactive
  • Lessons more experiential

…and ultimately, fostering connections between you and your students.

That said, we’d love your input so we can prioritize the topics and tailor the experience to your needs.

How Much Will it Cost?

We’re hoping to keep the cost as low as possible. Please fill out the interest form to help us figure it out!

When Will it Be?

Great question. You tell us…

Taking into account your availability, when would an Engaging Students Online Virtual Workshop be most helpful to you?

Late April

Early May

Late May

More options...


Whether you’re new to online teaching and looking to improve your experience, or a pro willing to share your wisdom, please let us know if you’re interested in a virtual workshop dedicated to increasing engagement in online classes.


Join 8,000+ instructors and get new lesson plans via email!

Interviewing Customers Remotely [ExEC Online: Express Pack]

Interviewing Customers Remotely [ExEC Online: Express Pack]

We’ve fast-tracked the development of new online-ready exercises which you can use individually or as a set, called the ExEC Online: Express pack, available free through June!

Our third lesson, Interviewing Customers Remotely, is ready!

Express Pack Entrepreneurship Lessons Online

Teach Interviews in an Engaging Way

Based on our Customer Interviewing Cards, this exercise has been adapted to teach students how to interview customers under the unique circumstances that COVID-19 has presented. Hopefully this lesson will only be applicable this term, but…

…it may be helpful in the Fall too!

This lesson is a fun way teach your students:

  1. Where to find customers to interview during a quarantine
  2. How to ask those customers for an interview
  3. What to ask during the interview

Below is a quick overview. For full details, be sure to register for the ExEC Online: Express Pack.

Easy to Integrate

We’ve made this exercise as easy to integrate as possible.

Step 1


Have your students watch this video:

If you’re teaching a synchronous class, feel free to skip showing the video and simply teach the principles yourself.

Step 2

Students complete the Digital Customer Interviewing Cards spreadsheet where they learn what their “objectives” (i.e. goals) for conducting customer interviews are, as well as the best and worst questions to ask during those interviews.

Here’s a quick look at what the spreadsheet looks like:

Step 3

Students get access to a robust interview script they can use for both remote, and in-person, problem discovery videos.

entrepreneurship lesson plans online

Get the Customer Interviewing Lesson

Get All Four Free Lessons

The ExEC Online: Express Pack is a collection of free, interactive, online entrepreneurship lessons available through the rest of this term that you can easily plug into your class individually or as a set.

In addition to the Customer Interview lesson plan, we’re releasing three other exercises that are not only engaging, but particularly relevant in this time of uncertainty:

  1. Problem-Inspired Idea Generation: We know customers don’t buy products, they buy solutions to problems – and right now people’s problems have changed dramatically. This exercise will show your students a systematic way to identify new opportunities inspired by their customer’s real-world problems that is particularly helpful during times of disruption like we’re experiencing right now.
  2. Financial Projection Simulator: With a global recession looming, it’s essential our students understand the elements of a robust financial model, and how to develop a sustainable one. This exercise makes finance approachable by turning what would normally be an overwhelming series of numbers, into a game-like experience that enables students to experiment with many different financial models.
  3. 60 Minute MVP: The key to thriving in the face of high uncertainty and limited resources is efficient experimentation. This exercise will show your students how to quickly launch a Minimum Viable Product (MVP) to measure demand for their products/services. Plus, even outside the entrepreneurial context, in a future where online, remote-enabled work will likely be in demand, this is a great opportunity for students to learn how to build websites and create animated videos.

We’ll make each lesson plan available as soon as it’s finished. So if you’re interested in using any of the exercises from the ExEC Online: Express Pack, please click here.

Due to the accelerated pace we’re releasing these lessons, the first iteration of the ExEC Online: Express Pack is designed for use in colleges/universities in the US and Canada. Future iterations will be accessible to students across a wider range of environments.

Regardless of who or where you teach, we welcome you to request access and we’ll notify you if, and as soon as, we’re able to bring your students on board!

Get All the ExEC Online: Express Pack Lesson Plans (Free)

Know an Entrepreneurship Instructor?

If you know anyone who these new lessons might help, please invite them to participate! You can:

Thank you for all the work you’re doing, teaching and supporting young people during this challenging time – we’re grateful to have an opportunity to support you, and look forward to helping you however we can!


Join 8,000+ instructors and get new lesson plans via email!

Teaching Entrepreneurship Online in Fall?

Teaching Entrepreneurship Online in Fall?

Now that we’re a couple of weeks into the “new normal”, your bookstore will soon be contacting you.

What are you going to do about Fall?

Assume You’re Teaching Online in Fall

Most of us want to get back to in-person teaching in Fall. Realistically, that may not happen:

  • This season, the US may lose more lives to COVID-19 than WWI (source)
  • The virus is expected to return in Fall (source)
  • A vaccine won’t be available for Fall (source)
  • Social distancing appears to be our best bet (source)

Given the devastating effects of the virus, and the likelihood of returning, It’s hard to see how it makes sense for schools to invite students back into dorms and classrooms in Fall.

Even if we’re able to start classes in-person, we’ll all need plans to quickly transition our class online if necessary. 

So how do you prep a class hoping it’ll be in-person, but assuming it’ll be online while knowing that…

Engagement is Harder Online

Let’s not kid ourselves…

Student engagement was a challenge before COVID-19.

But now that students are taking classes from home (i.e. bed), can attend class while watching Netflix, and know that we can’t be in every breakout room simultaneously, it’s an even bigger challenge.

Fortunately, there’s a way to prep for fall that will…

Engage Your Students: Online or In-Person

Lecture and quiz-based classes won’t cut it (they’re the antithesis of engagement), and it’s near impossible to structure a rigorous online class if you’re mixing and matching exercises from around the web.

If you want an engaging approach you can use online or in-person and don’t want to spend all summer building it.

Consider trying ExEC this Fall.

Experiential Entrepreneurship Curriculum Logo

We’ve been developing ExEC, the Experiential Entrepreneurship Curriculum, for the last 5 years and so far it’s…

…while producing outstanding student evaluations

Online or In-Person

There are two versions of ExEC: one we’ve optimized for teaching in-person, and the other which we’ve optimized for teaching online and, especially relevant this Fall…

You can seamlessly transition between the two, even mid-term.

Don’t Reinvent the Wheel

We’ve spent years testing and improving a structured set of exercises that we know teach entrepreneurial skills in an engaging way – online or in-person.

Don’t spend your summer recording lectures or compiling exercises from around the web. Make the most of your break, and your Fall, by using a set of rigorous, cohesive lessons your students will engage with.

This Fall, Try ExEC…

Whatever path you take this Fall, we wish you and your students the very best, and are happy to offer any help we can.

Experiential Entrepreneurship Curriculum Logo

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Join 8,000+ instructors and get new lesson plans via email!

Financial Projection Simulator [ExEC Online: Express Pack]

Financial Projection Simulator [ExEC Online: Express Pack]

To help with the COVID-19 crisis, we’ve fast-tracked the development of new online-ready exercises – which you can use individually or as a set – called the ExEC Online: Express pack, available free through June.

Our second lesson, Financial Projection Simulator (FPS), is ready for you to use!

Making Finance Fun

Even in the best of times, students struggle to engage with and understand the financial elements of entrepreneurship. Of course, this topic is critically important, especially during times of economic uncertainty like we’re facing now.

To help make entrepreneurial finance more accessible to all students, we designed our Financial Projection Simulator to teach financial modeling, with a fun, game-like experience.

Encourage Experimentation

The Financial Projection Simulator leads students through an experimentation process where they make different assumptions about their financial model, including their:

  • Product price
  • Cost of Customer Acquisition
  • Employee salaries (including benefits & taxes)
  • Initial capital investments
  • Etc.

And as they enter their assumptions, the simulator automatically calculates the financial sustainability of their business, giving students a Red, Yellow or Green assessment:

teaching finance in entrepreneurship

This question-based approach forces students to think through the major elements of a financial model in an approachable way. Plus, the real-time feedback encourages students to get creative, iterating their business model until they find one that’s profitable.

Engage Your Students

Like all of our lessons, the Financial Projection Simulator uses several resources to create an experiential, interactive experience for students online, including:

  • Step-by-step videos for students
  • Overview videos for you, like this:


When combined, these tools create an engaging experience for your students (even when they’re learning about finance ;).

Get the Financial Projection Simulator

Get All Four Free Lessons

The ExEC Online: Express Pack is a collection of free, interactive, online entrepreneurship lessons available through the rest of this term that you can easily plug into your class individually or as a set.

In addition to Financial Projection Simulator, we’re releasing three other exercises that are not only engaging, but particularly relevant in this time of uncertainty:

  1. Problem-Inspired Idea Generation: We know customers don’t buy products, they buy solutions to problems – and right now people’s problems have changed dramatically. This exercise will show your students a systematic way to identify new opportunities inspired by their customer’s real-world problems that is particularly helpful during times of disruption like we’re experiencing right now.
  2. How to Interview Customers: Now that business model assumptions have been flipped on their head, it’s more critical than ever that students learn how to effectively talk to customers to discover what problems they’re facing. A person with the skills to learn about how this new world will effect people individually, is a person that will thrive during this, and any future dramatic changes. This lesson will help students understand how to find customers to talk to, what questions to ask, and most importantly, why asking them will form the basis of a successful business model.
  3. 60 Minute MVP: The key to thriving in the face of high uncertainty and limited resources is efficient experimentation. This exercise will show your students how to quickly launch a Minimum Viable Product (MVP) to measure demand for their products/services. Plus, even outside the entrepreneurial context, in a future where online, remote-enabled work will likely be in demand, this is a great opportunity for students to learn how to build websites and create animated videos.

We’ll be making each lesson plan available as soon as it’s finished, so if you’re interested in using any of the exercises from the ExEC Online: Express Pack, please fill out the form below.

Due to the accelerated pace we’re releasing these lessons, the first iteration of the ExEC Online: Express Pack is designed for use in colleges/universities in the US and Canada. Future iterations will be accessible to students across a wider range of environments.

Regardless of who or where you teach, we welcome you to request access and we’ll notify you if, and as soon as, we’re able to bring your students on board!

Get All the ExEC Online: Express Pack Lesson Plans (Free)

Know an Entrepreneurship Instructor?

If you know anyone who these new lessons might help, please invite them to participate! You can:

Thank you for all the work you’re doing teaching, and supporting, young people during this challenging time – we’re grateful to have an opportunity to support you, and look forward to helping you however we can!


Join 8,000+ instructors and get new lesson plans via email!

Problem-Inspired Idea Generation [ExEC Online: Express Pack]

Problem-Inspired Idea Generation [ExEC Online: Express Pack]

To help with the COVID-19 crisis, we’ve fast-tracked the development of new online-ready exercises – which you can use individually or as a set – called the ExEC Online: Express pack, available free through June.

Our first lesson, Problem-Inspired Idea Generation, is ready for you to use!

Idea Generation is a Skill

Customers don’t buy products, they buy solutions to problems – and during this crisis, people’s problems have changed dramatically. This exercise will show your students a repeatable way to generate business ideas, inspired by their customer’s problems, that will become the foundation for opportunity identification skills they can use throughout their careers.

3 Steps to Better Ideas

Problem-Inspired Idea Generation creates an experience where students:

  1. Learn why great business ideas come from problems.
  2. Brainstorm people they’re passionate about solving problems for.
  3. Hypothesize, and prioritize, those peoples’ problems.

Those hypothesized problems kickstart your students’ customer discovery and/or solution ideation processes, resulting in more meaningful, and more feasible business ideas.

Engage Your Students

Our goal is to create highly interactive, experiential exercises. You can review this lesson to see how it can help you engage your students online with tools like:

  • Interactive Digital Worksheets your students can fill out and turn into you online
  • Video overviews for students
  • Sample slides for you to use with any live, or recorded, videos overviews you’d like to (optionally) produce for you students
  • Assessment recommendations

Get the ExEC Online: Express Pack

Get All Four Free Lessons

The ExEC Online: Express Pack is a collection of free, interactive, online entrepreneurship lessons available through the rest of this term that you can easily plug into your class individually or as a set.

In addition to Problem-Inspired Idea Generation, we’re releasing three other exercises that are not only engaging, but particularly relevant in this time of uncertainty:

  1. How to Interview Customers: Now that business model assumptions have been flipped on their head, it’s more critical than ever that students learn how to effectively talk to customers to discover what problems they’re facing. A person with the skills to learn about how this new world will effect people individually, is a person that will thrive during this, and any future dramatic changes. This lesson will help students understand how to find customers to talk to, what questions to ask, and most importantly, why asking them will form the basis of a successful business model.
  2. Financial Projection Simulator: With a global recession looming, it’s essential our students understand the elements of a robust financial model, and how to develop a sustainable one. This exercise makes finance approachable by turning what would normally be an overwhelming series of numbers, into a game-like experience that enables students to experiment with many different financial models.
  3. 60 Minute MVP: The key to thriving in the face of high uncertainty and limited resources is efficient experimentation. This exercise will show your students how to quickly launch a Minimum Viable Product (MVP) to measure demand for their products/services. Plus, even outside the entrepreneurial context, in a future where online, remote-enabled work will likely be in demand, this is a great opportunity for students to learn how to build websites and create animated videos.

We’ll be making each lesson plan available as soon as it’s finished, so if you’re interested in using any of the exercises from the ExEC Online: Express Pack, please fill out the form below.

Due to the accelerated pace we’re releasing these lessons, the first iteration will be designed for use in colleges/universities in the US and Canada. Future iterations will be accessible to students across a wider range of environments.

Regardless of who or where you teach, we welcome you to request access and we’ll notify you if, and as soon as, we’re able to bring your students on board!

Get All the ExEC Online: Express Pack Lesson Plans (Free)

Know an Entrepreneurship Instructor?

If you know anyone who these new lessons might be help, we welcome you to invite them to participate. You can:

Thank you for all the work you’re doing teaching, and supporting, young people during this challenging time – we’re grateful to have an opportunity to support you, and look forward to helping you however we can!


Join 8,000+ instructors and get new lesson plans via email!

Free Online Entrepreneurship Lesson Plans

Free Online Entrepreneurship Lesson Plans

We know the transition to teaching online can be overwhelming. We want to help.

We’ve fast-tracked a subset of the ExEC Online exercises you’ll be able to use free through June 2020!

The ExEC Online: Express Pack will be a collection of free, interactive, online entrepreneurship lessons available through the rest of this term that you can easily plug into your class.

We’re specifically releasing exercises that are not only engaging, but particularly relevant in this time of dramatic uncertainty:

  1. Problem-Inspired Idea Generation: We know customers don’t buy products, they buy solutions to problems – and right now people’s problems have changed dramatically. This exercise will show your students a systematic way to identify new opportunities inspired by their customer’s real-world problems that is particularly helpful during times of disruption like we’re experiencing right now.
  2. How to Interview Customers on Lockdown: Now that business model assumptions have been flipped on their head, it’s more critical than ever that students learn how to effectively talk to customers to discover what problems they’re facing. A person with the skills to learn about how this new world will effect people individually, is a person that will thrive during this, and any future dramatic changes. This lesson will help students understand how to find customers to talk to, what questions to ask, and most importantly, why asking them will form the basis of a successful business model.
  3. Financial Projection Simulator: With a global recession looming, it’s essential our students understand the elements of a robust financial model, and how to develop a sustainable one. This exercise makes finance approachable by turning what would normally be an overwhelming series of numbers, into a game-like experience that enables students to experiment with many different financial models.
  4. 60 Minute MVP: The key to thriving in the face of high uncertainty and limited resources is efficient experimentation. This exercise will show your students how to quickly launch a Minimum Viable Product (MVP) to measure demand for their products/services. Plus, even outside the entrepreneurial context, in a future where online, remote-enabled work will likely be in demand, this is a great opportunity for students to learn how to build websites and create animated videos.

We’ll be making each lesson plan available as soon as it’s finished. If you’re interested in using any of the exercises from the ExEC Online: Express Pack, please fill out the form below.

Due to the accelerated pace we’re releasing these lessons, the first iteration will be designed for use in colleges/universities in the US and Canada. Future iterations will be accessible to students across a wider range of environments.

Regardless of who or where you teach, we welcome you to request access and we’ll notify you if, and as soon as, we’re able to bring your students on board!

Get the ExEC Online: Express Pack

Know a Teacher?

If you know anyone who these new lessons might be help, we welcome you to invite them to participate. You can:

Thank you for all the work you’re doing teaching, and supporting, young people during this challenging time – we’re grateful to have an opportunity to support you, and look forward to helping you however we can!


Join 8,000+ instructors and get new lesson plans via email!

USASBE 3E Winner: Lottery Ticket Dilemma

USASBE 3E Winner: Lottery Ticket Dilemma

It is our pleasure to share with you the lesson plan that won the prestigious Experiential Entrepreneurship Exercises (3E) competition at USASBE this past January!
Entrepreneurship Education

If your students focus more on their products than their customers’ problems, this lesson plan is for you.!

Through this exercise, students will discover how important emotions are in the decision-making process, and the importance of understanding and fulfilling other people’s emotional needs.


Specifically, students will learn:

  • Why the majority of businesses that start end in failure, & how to avoid those failures
  • Customer decisions are driven by their emotions
  • To create products customers want to buy, we need to understand the emotional journey they want to take

Here’s how the lesson plan works…

Step 1: Set Context in Your Class

Use this exercise when students are beginning to think of ideas to develop – see the High Quality Idea Generation module in the Experiential Entrepreneurship Curriculum (ExEC) for explicit instructions to guide students to develop high quality ideas they are uniquely qualified to pursue.

Let students know there is a specific perspective that can help them develop powerful ideas that they will enjoy working on, and that today they will learn that perspective.

Step 2: Why Businesses Fail

Ask students to describe what they think the difference is between an inventor and an entrepreneur.

Inventors vs. Entrepreneurs

Walk students through the two comparisons to highlight this difference:

  • Segway vs. Razor scooters. Explain that Segway is an incredible invention, estimated to have a value of $2.5 billion, and that it was a colossal failure that reached only 1% of its market valuation. Then explain that Razor scooters (and now Bird and Lime electric scooters) are similar, but these far less “innovative” transportation options have generated far more market value – nearly $15 billion market. Point out that the Segway creator is an inventor because he focused on his emotional needs (building something technologically innovative, whereas the creator of the Razor scooter are entrepreneurs because they focused on creating products people actually decide to buy and use.
  • Google Glass vs. Warby Paker. Explain that Google Glass, like Segway, was invented as a revolutionary technology, but ended up being the butt of many jokes. Warby Parker, on the other hand, sells glasses that actually solve a problem for customers, so customers want to buy and use them.

Step 3: Setting Up the Game

Tell your students that to understand what people decide to buy, they must first understand how people make decisions. Explain they will play a game to figure that out, and the team that wins a game will get to pick their prize.

Explain that to play the game, your students will:

  • Form teams of two
  • Listen to a recording
  • Answer one question about the recording
  • The team that answers the question the best gets the prize

Let students know they will pick between a real lottery ticket worth up to $40 million, or a dime. Be sure to emphasize the potential value of the lottery ticket (e.g., a chance at $40 million) as opposed to simply describing it as a lottery ticket. Even if the jackpot is more than $40 million, tell them it’s worth $40 million to keep the math consistent for this exercise.

Tell your students that, based on the odds of winning the lottery, and the taxes they’d have to pay on any winnings, the dime is, strictly speaking, more valuable than the lottery ticket. Students should talk in their dyads and decided which prize they want.

Step 4: Lottery Ticket vs. Dime

Ask students to raise their hand if they want the dime. Then ask them to raise their hand if they want to lottery ticket.

The majority will pick the lottery ticket. Ask them

Why do you want a prize that is objectively worth less?

Probe them with questions that highlight any emotions associated with your students’ choices as you begin to hand out copies of the Emotional Palette Canvas

NOTE: Some students will indicate they want the dime instead of the lottery ticket. Be sure to dive in to understand why they want the dime. Ultimately, their preference for the dime will have an emotional component as well, even if it appears to be based entirely on logic (e.g. they want to feel confident, smart, etc.).

Step 5: Emotional Palette Canvas

Explain that this canvas is a tool to help them visualize and compare the intensity of different emotions.

Emotional Palette Canvas - Federico Mammano

Ask students to find the emotions they would feel if they won the lottery ticket. Scores should be in the +3 or +4 range. Ask your students to discuss in their dyad the following question:

Using the Emotional Palette Canvas, how can you explain why most people prefer the shot at $40 million, as opposed to an objectively more valuable dime.

NOTE: The correct answer is that while the objective value of the dime is higher than the lottery ticket, the emotional value (e.g. hope, excitement, fun, etc.) of the ticket is much higher than the dime. Teams should use the Emotional Palette Canvas to illustrate that the lottery ticket emotions “score” higher than the dime emotions.

Step 6: The Man Who Couldn’t Feel

Switch now to the questions that will determine the winning dyad. Tell students to listen carefully to the podcast you will play and think about this question:

What role do emotions play in decision making?

Play this podcast listed in the lesson plan.

Step 7: How Humans Make Decisions

After the podcast, have students answer the following to determine the prize winner:

  • They must link all of the concepts covered today:
    • The difference between inventors and entrepreneurs
    • The majority of the class wants the objectively less valuable, but emotionally more valuable, lottery ticket as a prize
    • What you learned from the podcast
  • To describe:
    • What role do emotions play in decision making?
    • Why did we, like most entrepreneurs, failed in our first experiment?
    • What we should do different next time to avoid repeating our mistakes?

For a sample answer, download the lesson plan!

It may take a few attempts for teams to get all the elements of this answer correct. After a team guesses, provide them feedback and then let another team answer. Continue until all of the elements above have been spoken to.

NOTE: So many people, including the majority of our students, think our decisions are based on logic, reason, and rational thinking. This is an opportunity to highlight that’s not the case. Drive this point home, especially if you’re teaching a large number of logically-oriented students, like engineers or scientists.

Step 8: Recap

This is your chance to drive home the main points of this lesson.

  • There’s no such thing as a human making a purely logical decision. Without emotions, we can’t make decisions.
  • Emotions influence every decision we make including what products are successful and who gets what jobs.
  • Whether one become an entrepreneur, or get a job, how much money one makes depends on how well they understand and fulfill other people’s emotional needs.

Get the “Lottery Ticket Dilemma” Lesson Plan

We’ve created a detailed “Lottery Ticket Dilemma” lesson plan. This exercise walks you, and your students, through the process, step-by-step.

Get the Lesson Plan

 

It’s free for any/all entrepreneurship teachers, so you’re welcome to share it.

This lesson is part of our fully experiential curriculum. If you’d like to see the entire curriculum, click to learn more.

 

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Teaching Entrepreneurship Online: 5 Common Mistakes (and how to Avoid Them)

Teaching Entrepreneurship Online: 5 Common Mistakes (and how to Avoid Them)

Successful Online Classes

As many of us transition our classes online, growing pains will abound. We wanted to provide a quick summary of the most common pitfalls you’re likely to run into so you know how to avoid them.

5 Online Teaching Mistakes to Avoid


Mistake #1: Weekly assignments

If you have weekly assignments, in other words just one touchpoint per week where students are expected to turn something in, you’re inviting time management challenges for your students. This can be especially true if students are new to taking online classes; they’re not used to planning out their weekly schedule around finishing assignments. Couple that with other work and class commitments and in all likelihood, they will wait until the last minute to get their work finished.

Solution: Multiple touch points each week.

When transitioning our own in-person curriculum online, we’ve found it helps set our students up for success by having at least 2 touchpoints per week. For example, we have assignments due on Tuesday and Thursday. Alternatively, you can set up your course so that assignments are due Monday, Wednesday, and Friday. Whatever you decide, break up the assignments into smaller chunks to help avoid any time management problems your students may have. This will help keep them on track and reduce their tendency to cram.


Mistake #2: Not Using Groups

We often hear from professors who teach online that they don’t feel as connected to their students, or they worry their students don’t feel connected to them. Additionally, we’ve heard from students that they don’t feel connected to other students when taking an online class. 

If you’re avoiding group work because you’re teaching online, you’re missing an effective tool for fostering a connection between your students. 

Group work can seem daunting to set up, assess and grade online, but it doesn’t have to be. And since group work is a powerful tool to combat disconnection in an online classroom, it’s worth the effort. Here are a few of our proven methods for creating a successful group.

1) Reflection Groups

Reflection Groups are small groups of students (3-4), who meet up “face-to-face” online via Zoom, Skype, Facetime, etc. to reflect on individual experiences they’ve had during the class. This provides an explicit opportunity to reflect, and take notes about their reflections, with peers from the class, helps drive student thinking deeper. It also helps them connect with other people in their class and fosters a more profound connection since it provides space for them to share their reflections of their experience, rather than simply sharing right/wrong answers.

For example, in our classes students meet with their reflection groups to discuss:

  • Their fears and curiosities about life after graduation
  • The biggest failures they’ve encountered in their lives so far, and what they’ve learned from them
  • Successes and struggles they’ve had with individual assignments

Creating groups isn’t difficult. All Learning Management Systems (e.g. Canvas, Blackboard, Moodle, Brightspace, etc.) have functionality for creating student. While technology like Zoom, WhatsApp, Facetime, and Skype make it really easy for students to meetup. This makes it simple to leverage group work and increase your student’s feeling of connection.

What can feel a little more daunting about online groups is grading/assessment. Here’s how to tackle that: 

2) Team Work + Individual (Video) Reflections

Have the students complete their exercises together, but have them turn in individual reflections. 

In our classes, we encourage students to work together but require each student to submit their own video-based reflections on the work they’ve done. These videos (which we limit to 1 – 3 minutes), speed up the assessment process, cutting down on overall assessment time while ensuring each student is developing their own skills.


Mistake #3: Not Using Webcams

Webcams establish an instant face-to-face connection which is incredibly helpful in establishing a connection with your students. We recommend, whenever possible, using your own webcam, and to encourage your students to use webcams themselves. 

When we ask for student submissions, we have them use a tool called Loom, which is an easy-to-use browser extension which allows students to simply record their screen and capture their webcam at the same time. We’ve used Loom thousands of students and have had great results.

Loom lets you see your students (establishing a connection) and gives you a real insight into what they’ve been working on. We’ve found this is an invaluable tool in discovering how well they understand the concepts being taught in class. It also leads to a deeper level of understanding of the material because students will need to be able to write about the subject as well as talk about it concisely. We do recommend setting time guidelines for the videos. For example, we have students make videos 2-3 minutes long. This reduces the amount of time needed to go through the videos.


Mistake #4: “Read and Regurgitate” Discussion Boards

Typically, discussion boards are used as a way to ensure students complete some reading by asking students to reflect on what they’ve read, and possibly comment on another student’s post. Most of the time, this leads to students simply summarizing what they read and writing similar comments on fellow students’ posts. Unfortunately, this doesn’t lead to a lot of in-depth discussion or reflection. 

Discussion boards are optimal when people are presenting diverse viewpoints as opposed to all reflecting similar ideas. 

We recommend using discussion boards for personal reflections. For example, instead of asking students to go through an experience and describe what the experience was, have them talk about their personal challenges that came up with the experience. Ask what they learned most as a result of the experience. How are they going to apply that skill going forward?

Making personal comments creates a connected feeling in the class as students read other people’s responses. They get to know each other better and you get a sense of if they’re really understanding what you want them to take away from the material.

Discussion boards can also be used for students to pitch business ideas. You can even have students form teams around pitch ideas. Any experience you can create where students are leveraging different ideas is a great place to use discussion boards.


Mistake #5: “Class-Based” Thinking

It’s hard enough to create an engaging classroom in-person. Going online can feel even more daunting because we don’t have the opportunity for real-time interaction with students.

That said, there’s a little-known benefit to teaching online that can be used to create extremely engaging experiences.

When teaching in-person classes, it’s normal to have your thinking centered on “classes.” Whether a 75-minute class, 90-minute class, etc., we know that we have X-amount of things we want to cover in that amount of time. However, an online class doesn’t have the same time constraints.

We have found that it’s helpful to shift from a “class” structure to focus on creating “ah-ha” experiences for our students. Start by thinking about the ah-ha moments you have in your in-person classes and write out all of the interactions you have with your students that lead up to that moment. Then start translating each of those interactions online. Once you start thinking on an “interaction” level, as opposed to a “class” level, it’s much easier to… 

Structure your course around creating “ah-ha” experiences.

As we created the online version of our in-person curriculum, we’ve had to tease out the interactive moments between instructor and students and rethink the time frame of these interactions. For example, in an in-person class, the professor can provide a prompt and the students respond in real-time and the entire lesson may only take 30 minutes. Online, this same lesson may span two weeks as the professor provides a prompt, awaits student responses, provides counter-discussion or reflection, etc. While this takes longer calendar-wise, we have found it is possible to create just as engaging of an experience for online students as we have in-person, by focusing primarily on these interactions.

For example, in the first class of our curriculum, we have students write out on post-it notes their fears and curiosities after they graduate. We then have them share their fears and curiosities with someone sitting next to them. We then create post-it note clouds around common themes they share. Then our instructors take those common challenges and map them into their syllabus. Some common fears are:

  • How am I going to find a job?
  • Is my job going to pay enough?
  • Am I going to like my job?

Professors then take these common problems or themes and point towards the places in the syllabus that will help address them. Students then realize, “Oh, even if I don’t want to be an entrepreneur, here’s what I’m going to get out of this class or entrepreneurial skills.” This whole process takes roughly 30 minutes in-person. 

The online version, on the other hand, is more drawn out. First students fill out a survey that says “here are my fears and curiosities.” Then they utilize the aforementioned reflection groups where they’ll talk about their challenges. Then the instructor takes the survey results and makes a video response connecting the dots between their students’ challenges, and their syllabus. So, the interaction takes longer in terms of calendar time but creates the same “ah-ha” moment as students realize the value entrepreneurship skills can have on their lives, even if they don’t see themselves becoming entrepreneurs. 

Takeaways

Transitioning to teaching online can be challenging, but it can also be extremely effective. If you want to make sure your students:

  • Avoid cramming
  • Feel connected to you and your other students
  • Engage fully in your class

We recommend:

  1. Having multiple touch points per week
  2. Group assignments w/ individual reflections
  3. Everyone record videos with webcams
  4. Use discussion boards for personal reflections
  5. Replicate your interactions, not your classes, online

If you’d like more tips on running successful online classes, subscribe here to get the next one in your inbox.

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If you have any suggestions to fix the mistakes above or want to recommend any mistakes we missed, please let us know!

In the meantime… 

We Need Your Questions!

During this time of uncertainty, we want to hear what challenges you’re running into, and questions you have. We’re eager to experiment with ways to serve the teaching community, but like good innovators, we want to make sure we’re solving real problems.

What's Your Biggest Teaching Challenge?

In my role as USASBE President-elect, I’m hosting a USASBE Virtual Town Hall on March 25th, where we’ll discuss your challenges in detail. Answering the question above, or clicking the image below, will register you for the discussion, and make sure you get the recording afterward.

United States Association for Small Business and Entrepreneurship Town Hall Discussion of Entrepreneurship Education

Register Here for the USASBE Town Hall

Our Curriculum

If you’re looking for a structured, comprehensive, and engaging experiential entrepreneurship curriculum you can run with your students in person, or online, check out the Experiential Entrepreneurship Curriculum.

Used at more than 80 colleges and universities, ExEC helps students feel connected with you, and one another, while they learn practical entrepreneurial skills regardless of their career path.

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