MU200 Lecture Notes - Lecture 1: Minimum Viable Product, Business Model Canvas, Making Money
Document Summary
Educate students on the market factors, best practices, research, tools, behaviours and mindsets needed to build a startup or succeed in an arts centred career. Founders that learn and track metrics and have mentors raise 7x more money, have 3. 5x user growth. Startups that pivot once or even twice raise 2. 5x more money. Pivot: when you change direction, in business pivot is a common term in the startup world. Solo founders take 3. 6x longer to reach scale stage. Startups take 3x longer to validate their market than they expect. Teams with technical/business founder balance raise 30% more money. Premature scaling (when you grow a business) is the most common reason for startups to perform worse. Premature growing = trying to move too fast without the resources or data to grow. Course breakdown: individual/team participation (20%, out of building customer discovery progress (40%, minimum viable product (20%, final project presentation (20%) Testing pieces of a product before building the whole thing.
