BUS 314 Lecture Notes - Lecture 1: Business Model Canvas, Design Thinking

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 314
• Professor: Andrew Harries

Document Summary

Ai better at optimizing and applying rules. Jobs that exist today may not exist in the future. Entrepreneurship is finding and delivering ways to create new customer/user experiences. New businesses lead in innovation, jobs & wealth. 90% of new ventures fail learn how to improve those odds. Design thinking and finding problems worth solving. Product/market fit: path to making a profit in the business. Test and adjust your bmc hypotheses with real customers: small adjustments are iterations, substantive adjustments are pivots, fail fast! Product-market fit: the magic moment when you find a problem worth solving that fits with your unique capabilities. Just enough features to solve the core problem for the persona you"re targeting. We"re copying a successful incumbent (worried how differentiated?) I think this would be great idea (no discovery, no money) Self-aware: do i know what i don"t know, willing to ask for help.