PSV × NYEF Ideation Sprint
Session 1
Conception to Creation: Entrepreneurship, Ideation, and Design Thinking
Being an entrepreneur is an art and not a science. There are no hard and fast rules that ensure you become a great entrepreneur. However, getting a clear overview of what it means to be an entrepreneur and the key skills and attributes necessary for success can be a good starting point. This session aims to provide you with an overview of what it means to be an entrepreneur while fostering your ideas through ideation and harnessing the power of design thinking. The session will strongly emphasize practical insights, actionable strategies, and a comprehensive understanding of how to navigate the entrepreneurial landscape.
Session 2
Vision to Reality: Navigating Product Development and Prototyping
Once you have realized what the problem is and the solution that can potentially solve the perceived problem, the next step is product development and prototyping – the dynamic heartbeats of innovation. This session is designed to guide you through the intricate journey of product development, from conception to prototype by delving into the art of ideation, design, and testing. The session will strongly emphasize on bringing your visionary concepts to life and refining them through the iterative process of prototyping by leveraging Lean Startup methodologies such as MVP, Build-Measure-Learn feedback loop, and innovation accounting while also incorporating user feedback.
Session 3
Exploration to Engagement: Customer Discovery, Marketing, and Sales
Having a brilliant prototype is a great start but is not enough, especially when you have no idea on which customer segment to test the prototype on. What’s required at this point is understanding your niche customer segment, crafting impactful marketing strategies to generate traction, and driving sales through positive product perception. This session is designed to guide you through the realm of validating your prototype through customer research and testing, establishing your brand through key marketing channels and tactics, and driving sales through the art of customer satisfaction and retention. The session will strongly emphasize on the process of customer discovery and segmentation, the significance of targeted and measurable marketing strategy, and customer relationship management (CRM).
Session 4
Blueprint to Success: Crafting the Right Business Model
The fine line between success and failure for a startup depends on a profound understanding of the core essence and alignment of the startup within the market landscape. A brilliant business model forms the strong core for sustainable success, encompassing revenue streams, strong value propositions, and market positioning. On that note, this session is focused on curating a meticulous compass to help you navigate the terrain of business model ideation and creation. The session will strongly emphasize on defining strong value propositions, sculpting revenue streams, assessing potential risks along with value-focused design and long-term scalability.
Session 5
Cultivating Business Resilience: Legal and Financial Compliance
Having a strong foundation on business model and a great product will definitely make it easier for one to penetrate the market, but in the intricate tapestry of business endeavors, the threads of legality and finance are the backbone that supports long-term resilience and growth. Like a tree’s roots that anchor the tree in the most violent storms, a good understanding of legal and financial landscape helps anchor your business against uncertainty. This session is focused on exploring and understanding the legal compliance and financial prudence including, but not limited to, understanding the financial and legal compliance for early stage startups, untangling the complexities of regulations, simple management business finances, fostering a strong financial strategy, and exploring the financial terms required to get you startup-ready.
Session 6
Up and Beyond: Fundraising and Pitching
Navigating the labyrinth of entrepreneurial jargons and establishing a robust foundation for a great startup puts you at ease for elevating and scaling to a level above and beyond. What matters at this stage is understanding the nuances of securing funds and effectively communicating the company’s vision determining a positive trajectory of your business. This session will, hence, focus on the intricacies of securing funds, the potential sources of funds, crafting compelling narratives, the art of elevator pitching, and delivering pitches with unwavering confidence.
Session 7
Harmonizing Talents: Building and Scaling Your Team
If you look into the commonality of any thriving and successful enterprise, you will always find the right notes of talent harmonizing seamlessly bringing vision into reality at the very heart. For startups, it is important to recognize the paramount importance of efficient human resource management early to unlock the true potential. Similar to how a symphony draws from diverse instruments, a startup’s journey is enriched by the collective skills and aspirations of the team. Hence, this session will focus on building and scaling your team, as required. The session will emphasize on the nuances of identifying the right talent, nurturing a cohesive team culture, the art of team management, and strategic scaling as your vision unfolds.
Session 8
Thriving from Within: Cultivating Entrepreneurial Mindset and Well-being
If entrepreneurship is an intricate dance, the rhythm of success is guided by the sweet melodies of entrepreneurial mindset and well-being. Similar to how a garden flourishes with the right nurturing soil, your journey as an entrepreneur flourishes with the right resilient mindset and well-being. Realizing the importance of maintaining a healthy balance, the session will focus on growth-oriented mindset, stress and risk management, work-life balance, self-care, and strategies for managing the challenges and pressures of entrepreneurship.