Investigating the venture

ENT301 Module 2.2 WEEK 4
Investigating the venture
The first 4 classes will not be live but will be recorded
and posted in Blackboard Collaborate
ü Week 1: no live class – access recording in Blackboard Collaborate
ü Week 2: no live class – access recording in Blackboard Collaborate
ü Week 3: no live class – access recording in Blackboard Collaborate
Week 4: no live class – access recording in Blackboard Collaborate
Week 5: 27 June, 11:30m AEDT:
our first live class – please attend!

• Value Proposition Canvas
• Business Model Canvas
• Lean Canvas
• The Big Idea Canvas
• Agile Project Methodology
Tools to build out your idea
Value Proposition Canvas
Target Market
Darus, D. (2015, November 17). Osterwalder explaining the Business
Model Canvas in 6 Minutes
[Video file]. Retrieved
• Alexander Osterwalder provides a brief
explanation of how the canvas is set
out and steps taken to complete the
business model.
• He provides examples of modern wellknown brands and the challenge
questions they ask.
• As you view the video, consider how
the process includes simple questions
at each step and each step is
Railsware. (2018, October 12). Lean Canvas Intro – Uber
[Video file]. Retrieved
• This video provides a step by step
process to use the lean canvas and uses
Uber as an example.
• As you watch, consider how this version
of the Business Model Canvas is
targeted to lean startup businesses.
• This canvas may be a tool you wish to
explore in the activity for this topic.

It is an extension of the book “Nail it then Scale it” to help entrepreneurs analyse
their ideas and objectives that if they are worth pursuing.
A step by step process for entrepreneurs to validate their idea.
The Big Ideas Canvas proposes five steps to develop a business hypothesis or
validate a business idea:
Knowing the pain of the customer
Recognising the potential of the market
Developing a prescription for the pain
Successfully positioning in the market
Thinking through a pPath to exit.
What is Big Ideas Canvas?
Big Idea Canvas. (2017, April 5). What Is The Big Idea Canvas? A
Lean Startup Canvas
[Video file]. Retrieved
Entrepreneur and creator of the Big Idea
Canvas, Paul Ahstrom explains why he
invented the canvas and how it meets
the needs of a lean start-up.
As you view the video, consider how you
also only have 24 hours in each day and
how you might ‘think big’ about your
venture idea.
The Big Idea Canvas may be a tool you
wish to explore in the activity for this

• A “creative” version of the Business Model
• Focusses on images and simple
• Designed for entrepreneurs who think
more in graphics and images rather than
text and information technology.

Agility is the ability of a business to respond to changes.
The quicker a business responds to change, the more agile it is.
Agile methodology is often used in project management,
especially in IT software.
Agile methodology can be depicted as a Waterfall or Spiral
depending upon the project.
Do you see the similarities with other Lean Startup concepts?
What it is and how do we achieve it?
Agile Methodology and Entrepreneurship
Agile: Waterfall vs Spiral Model
Waterfall Spiral
A successful Agile Software Development satisfies five key areas:
Adapt to changing customer requirements.
Deliver a solution which has to be able to cope with any future
Software quality = must be able to do what it is designed for.
Bureaucracy is required to sustain and manage the development
Human resource management = sourcing the core talent
required for successful development.
Example: Agile Software Development
LinkedIn Learning. (2013, September 16). Agile project
management tutorial: What is agile project management? |
[Video file]. Retrieved
• Brief overview of Agile project
management and the iterative process. It
covers why agile is good for projects.
• As you watch the brief overview think
about how modern project management
methodology can be complementary to
lean start-up build-measure-learn.

Holcombe, W. M. L. (2008). Running an Agile Software Development Project.
Chapter 1
Ahlstrom, P., & Standish, W. (n.d.). The Big Idea Canvas. Retrieved from
So You Want To Be An Entrepreneur!?

Number Type & Description Assessment Due Date Weighing
1 Presentation (3-5 minutes) Module 2.1
(Week 3: 19 June)
15 %
2 Business Investment Proposal
(1,000 words)
Module 3.2
(Week 6: 10 July)
3 Market Viability Analysis
(2,000 words)
Module 5.1
(Week 9: 31 July)
4 Pitch (3-5 minutes) Module 6.1
(Week 11: 14 August)

Assessments: hands on learning!
For next class: Read Assessment 2 Brief
Any Questions or Concerns?
Don’t forget!
I’m here to facilitate your journey, the rest is up to you!
• But, when in need, don’t hesitate to contact me
through Blackboard class
messages or:
[email protected]
• 1:1 appointments can be arranged by emailing me to set up a time.