Module 1:

Seeking Inspiration

Welcome to Module 1: Seeking Inspiration! Please click the section headers or text to navigate to the corresponding section.

Section 1: Find a Problem

While embarking on an entrepreneurial journey may seem intimidating irrespective of one's experience, we all have the abilities to identify problems and propose solutions by leveraging our own personal experiences. In this section, we discuss asking yourself questions to determine your own skills and how you can leverage these skills for your venture. We also cover how you can identify and validate a problem or unmet need.

Section 2: Brainstorm a Solution

After identifying a problem, the next step is finding a solution. There are many popular brainstorming methods, such as mind mapping and idea funnels. After arriving at a potential solution, it is important to evaluate it in terms of desirability, viability, feasibility, and interest. We also begin looking at implementation through the business model canvas.

Section 3: Conduct Market Research

As the popular saying goes, the customer is key. In this section, we discuss how to identify your customers, what they value, and how you can add value for them. It's important to reach out to potential customers to determine these characteristics and also estimate the size of your target market, such as through top-down or bottom-up approaches.

Section 4: Network to Enhance Your Potential

Everyone has their own skills, but truly successful ventures are led by a team of individuals with complementary skill sets. In order to build your team, you must reach out and network with others. While networking may seem challenging, we offer advice on how to build these professional relationships authentically. Our podcast guests offer tips on how to network, common mistakes to avoid, and how to network in a world affected by COVID-19.

Module 1 would not have been possible without the help of our amazing reviewers, Helen McBride (SVP Translational Sciences at TORL Biotherapeutics) and Ellen Su (Chief Product Officer at Wellinks).

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