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TRANSFORMATIVE ENTREPRENEURSHIP Spring 2020 COURSE NAME: INSTRUCTOR: E-MAIL: OFFICE HOURS: OFFICE LOCATION: CLASS LOCATION: TIME OF COURSE: DURATION: Transformative Entrepreneurship (TE1), 3 Credits Rob Kellogg rob@watson.is Thursdays 2-5 PM, virutal The Institute The Institute Tuesdays, 9:00 AM - 11:45 AM 15 Weeks, 165 minutes per week Catalog Description: their social ventures and is divided into three sections: and .
Team Building ​ This course is designed to lead students through the process of building out , Business Model Validation ​ Funder Readiness, Business Model Validation is designed to provide early and idea-stage social entrepreneurs with a ​ step-by-step methodology to rapidly and systematically validate the business model.
This section will help students identify the foundational assumptions that underpin their ventures, and d esign and run experiments to validate or invalidate those assumptions through customer discovery, rapid prototyping, and customer validation.

Funder Readiness will help students test their cost assumptions, develop a fundraising plan (for both ​ nonprofit and for-profit), master the art of closing the deal, and measure impact metrics to garner funder support.
is designed to bring students through the process of creating and sustaining an Team Building ​ effective team that can transform industries.

This section will help students assess and build out a suitable organization structure, craft their team culture, and design a hiring process.

No prerequisite is necessary; however, the course assumes that each student is working on a social entrepreneurial endeavor.

Course Learning Outcomes (L.O.

): Upon completion of the course, students will be able to: L.O.
1: Describe and apply the process of developing and refining a social enterprise idea (SE 1.1) L.O.

2: Describe, practice and apply a step-by-step methodology to rapidly and systematically validate their business model.

(SE 1.2) L.O.

3: Describe and practice the fundraising process for both for-profit and non-profit social enterprises (SE 1.3) L.O.
4: Describe best practices in building and strengthening teams for social enterprises and apply those principles to building and strengthening an actual team for a social enterprise (SE 2.3) Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE​ ​ ​ ​ ​ ​ COURSE REQUIREMENTS Students will complete a series of assignments throughout the course of the semester.

Deliverables: These are called green the quality of the submission.
All Deliverables must be submitted via Google Classroom.

are highlighted in Deliverables ​ ) and the assessment breakdown is found directly below.

Each Deliverable will be assessed for and can be found in the course outline ( Deliverables ​ Required Videos: videos are outlined below and highlighted in pink .

There is no textbook for this course, however required readings, podcasts and Exercises / Optional Readings: outside of workshops, but will not be turned in on Google Classroom.
Select exercises will be peer reviewed during the following workshop.

These are highlighted in These are suggested activities or optional readings to be completed blue .

” indicates that this can (but it is not a requirement) be submitted jointly, if in a founder-free J A red “ agent partnership, and must be accompanied by a Deliverable Division Form .
Assessment: Item I Deliverables Due -- Innovation Matrix - J Prototype - J Tues, Feb 4 Tues, Feb 25 Weight 50% 10% 10% Venture Interviews Log - J Tues, March 3 10% Lean Canvas - J Tues, March 31 10% HR/Culture Guide - J Tues, April 14 10% II Clarity Checkpoint: Interviews Takeaways Presentation Venture Tues, March 3 15% III Reflections & Do Nows Throughout IV Participation and Engagement (including discussion on readings) Total -- -- 20% 15% 100% OVERVIEW OF COURSE SCHEDULE AND ASSIGNMENTS Tues, Jan 21 - Week 1 – Orientation – No Class PART I: CLARITY Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ – The Problem Tues, Jan 28 - Week 2 During this class we will be outlining the three modules within TE: Clarity, Money, and People.
We will also utilize the Root Cause Analysis framework to unearth deeper causes of the social problems the entrepreneur seeks to address.

We will also start to design an “Innovation Matrix” to analyze the landscape of a specific sector/industry.

For next week: ● Innovation Matrix : This is a comparative assessment of the relevant organizations/businesses that have developed innovations/models in a particular field.

Due at the beginning of next week’s class.


● Reflection: Listen to the podcast: “How I Built This with Guy Raz: Tom’s Shoes and .” Assignment: Submit 200-word reflection on the following question: Blake Mycoskie What did Blake Mycoskie do wrong in launching his social venture and how could he Due by the start of next week’s class.

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have avoided the problem?

​ ● Venture Interviews I: Conduct at least 3 interviews with issue area experts.
Log in Venture Interview Log but do not turn in until week 7 (to watch) ● Techstars Toolkit: Build Your Lean Canvas ● Techstars Toolkit: Understand Your Customers ● Root Cause Analysis (to watch) The Who – Tues, Feb 4 - Week 3 During this session, we will go into the basics of the Business Model Canvas and dig into who your customer is, and we are introduced to empathy interviews.
For next week: ● Venture Interviews II: Conduct at least 7 customer empathy interviews and record interviews in Venture Interview Log but do not turn in until week 7 ● Reflection: your reflection Case Study: class.

in ​ Read “Grameen Bank” case study and come prepared to do Tues, Feb 11 - Week 4 During week 4, We dive into the vision, mission, and value proposition of the student ventures.
For next week: – The What ● Venture Interviews III: Conduct at least 8 more customer empathy interviews and record interviews in Venture Interview Log but do not turn in until week 7 ● Google for Startups: Prototyping Playlist ● Rapid Prototyping Google Glass: Tom Chi (to watch) (to watch) Prototyping Tues, Feb 18 - Week 5 – During this session, the entrepreneur will define what a prototype is, what constitutes rapid prototyping, and we will go through the process of creating prototypes of the product/service or a specific aspect of the venture.
For next week: Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ● Reflection : Read “An Anthropologist Walks into a Bar” posted on Google Classroom (PDF).

Assignment: Submit 200-word reflection on the following question: authors mean by the term “sensemaking” and how can the tool enable you to learn Due by the start of class.

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more about your customers?


​ Submit actual prototype (if digital) or a photograph (if physical) by ● Prototype: What do the beginning of next week.

Please bring your prototype to class next week.

Tues, Feb 25 - Week 6 – Customer Validation The goal of customer validation meetings is for the entrepreneur to rapidly validate (and invalidate) key assumptions that have been identified.
The intent is for the entrepreneur to get out and into the market and have the prototype of the product or service interact with real people in order to learn about the venture’s viability.

For next week: ● Venture Interviews Takeaways 3-minute presentation for Clarity Checkpoint next week.
Please come a three minute presentation about: 1) Key challenges of interviews 2) Key takeaways of interviews 3) Key action steps you have/ are planning on taking, accompanied by a visual presentation (powerpoint, prezi, etc).

You should attach the presentation to this assignment on Google Classroom.
● Final Venture Interview Log due next week (with the 28 expert and customer interviews you have conducted) ● Venture Interviews III: Conduct at least 10 customer validation interviews and record interviews in Venture Interview Log to be submitted next week - Clarity Checkpoint Tues, March 3 - Week 7 This week will be a mock press conference where you present your prototype and key takeaways from your Venture Interviews.

You will be asked questions about your process and learnings.
You will pass through the Clarity Checkpoint if you successfully present and pass the presentation, and have turned in all deliverables up until this point.

For next week: Listen to ● Reflection: “Allbirds” NPR podcast 1) What problem were the entrepreneurs/co-founders trying to solve?

and 2) How did the entrepreneurs exemplify perseverance?

Due by next class.

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​ ● Business Models for Social Impact +Acumen Answer the following two questions: .
PART II: MONEY – 8 The Business Model Tues, March 10 - Week Students will go through several tested revenue models and get feedback on their own proposed revenue streams.
For next week: ● Conduct all required readings and assignments for Funders Week Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ – - Week 9 *Thurs, March 19 This week, to complement the content in Funders Week, we will go through what Funders look for, how to interact with funders, and begin a list of relevant funders.
For next week: Fundraising [ALSO FUNDERS WEEK] ● Funder Tracker : This will guide entrepreneurs through developing out the steps needed to approach and prepare for meeting with funders.

No need to submit on Google Classroom.

– The Economics Tues, March 24 - Week 10 This week we focus on the factors that go into the cost structure and pricing of the venture’s product or service.

For next week: ● Completed Lean Canvas : At this point, all sections of LC should be completely filled out.
Please submit to Classroom by the start of next class.

● Reflection : Read “Harnassing the Power of Persuasion .” Assignment: Submit 200-word reflection answering the following questions: Robert Cialdini most resonated for you and why?

How might you develop this principle to raise money and engage stakeholders for your venture?

Due by next class.

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Which of the six principles outlined by Tues, March 31 - Week 11 - Closing This session is all about finalizing a deal.
What does it mean to close with a funder and what should an entrepreneur be on the lookout for?

For next week: ● Reflection: Watch “How Great Leaders Inspire Action with Simon Sinek” bmit 200-word reflection on the following question: Why) and su means by the “Golden Circle” and reflect on why this concept is important for you as both a social entrepreneur and as a leader.

Due by the start of next week’s class.

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Post on ​ stream.

(Start With Explain what Sinek PART III: PEOPLE Tues, April 7 - Week 12 – Leadership Principles This session is all about the key aspects of understanding your personal leadership style.

“Valve Handbook” Reflection posted on Google Classroom and come prepared will take place in class.

This case will be used throughout ● Case Study - Read to discuss in class.

the rest of the People module.


Tues, April 14 - Week 13 - Organizational Culture This session is centered around defining and creating a productive and value-driven team and culture.

We will look into case studies surrounding team culture and will synthesize best practices.
For next week: Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ● Culture Guide : Investigate admirable team cultures and create unique cultural tenets for the team, and then condense these learnings into a “culture guide” that informs the ethos of the team ● Reflection : Listen to “a16z Podcast: The Stories and Code of Culture Change” with Ben Horowitz and Sonal Chokshi.

Posted on google classroom.


200-word reflection on the stream reflecting on Due by the start of next week’s class.

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culture in your organization.
​ how you will approach the design of Assignment: Submit ● Five Questions Every Leader Should Ask About Organizational Design (Harvard Business Review) ● How to Recruit Top Talent (Unreasonable) Tues, April 21 - Week 14 - Organizational Structure & Hiring We will assess and build out a suitable organization structure for the venture, as well as different recruiting strategies, successful job descriptions, interview practices, and paradigms for selection of candidates during the hiring process.
For next week: analyze ● Roles and Responsibilities Matrix ● Job Description: This is a draft of the JD to recruit first or next hire.

This should include: Overview of venture, Position Overview, Outcomes of Role, Cultural Fit, Candidate Profile, and Compensation ● Compensation Analysis: Research competitive analysis of salaries in your country and industry, and calculate team salaries in the top 75% range.
● Calculating the Value of Impact Investing (Harvard Business Review) ● Case Study: Uncharted’s 2018 Impact Report (review and be ready for an in-class discussion) Tues, April 28 - Week 15 - Metrics We will go over both impact metrics as well as KPIs for organization ● Metrics: What will you measure?

How will you know you are succeeding in your social mission and financial goals?
Tues, May 5 - Week 16 - Strategic Planning and Next Steps A strategic road map represents the organization’s key priorities, activities, and roles over a set period of time.

It connects the mission of the organization to each priority and task and job description of each member of the team.

We will be going through the strategic roadmap for the next 6 months as the students set out on their post-Watson journeys.
A FEW GUIDING PRINCIPLES Do not use skepticism as an excuse for inaction: totally wrong, but it is a hypothesis worth disproving.” Innovation always starts with an educated We believe in the mantra: “This approach could be Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ guess - then it is a process of trial and error.
Sometimes we predict correctly from the outset, but more often, we make mistakes and stumble across unexpected findings, which lead to new questions and progress.

We do not use skepticism as a thinly veiled excuse for inaction or remaining in our comfort zones.

Students witness and go through different experiences and screw-ups throughout their time Enjoy it: at Watson.

Watson is meant to be a safe place to experiment, pivot, get things wrong, mess up, and then get things right.

Enjoy it!
Enjoy it!

We are here to throw ourselves deeply into the work we are passionate about.

Work hard and don’t forget that joy is the basis for what we do.

Feel free to disagree with something someone says or does, but first empathize with Mutual respect: them and acknowledge the merits in their point of view, and feel free to offer a respectful disagreement, taking into account the best practices of nonviolent communication.
Peer to peer feedback that students give each other has been found to be Peer to peer feedback: some of the most helpful advice.

Students will have the opportunity to receive feedback on assignment by mentors, Preceptors and the Watson team, but don’t forget that the feedback of peers will form the foundation of personal and professional development.

Statement of inclusivity: inclusive learning community, respecting those of all backgrounds and beliefs.
As a community, we aim to be respectful to all people regardless of race, ethnicity, religion, age, veteran status, ability, immigration or economic status, gender or sexual orientation.

The Preceptor and class members in this course strive to support an If students have any other needs that may require accommodations (special Other needs: arrangements) or if students will miss a class because of a religious holiday, please contact the Preceptor.
POLICIES & ASSESSMENT Late Work: credibility as a professional.

As such, deliverables will be given at maximum half credit.

Meeting deadlines is an important part of building a successful venture and establishing received by the deadline given by the Preceptor not ​ Watson Institute's Policy on Academic Honesty/Integrity: Integrity and honesty are essential to Watson Institute's mission and community standards.
Preceptors, staff and students must accept their responsibility to uphold and abide by the highest standards of integrity and honesty.

Violations of the Academic Honesty Policy include, but are not limited to, the following: : Intentionally using or attempting to use unauthorized materials 1.

Cheating ​ : The intentional and unauthorized invention or falsification of any information or 2.

Fabrication ​ citation in an academic exercise.


: Intentionally or unintentionally representing the words or ideas of another as 3.

Plagiarism ​ one’s own in any academic exercise.

Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​ ​ ​ ​ ​ ​ ​ ​ : Intentionally or knowingly helping or attempting to help another to commit an act 4.
Facilitation ​ of academic dishonesty : The intentional fabrication or distortion of an injury or illness used as an 5.

Falsification of Injury ​ excuse to miss workshops or meetings.

: The intentional embellishment of 6.

Misrepresentation of External Performances/Commitments ​ outside commitments used as an excuse to miss workshops or meetings.

Procedures: Preceptors who have evidence of a possible violation of the academic honesty policy must formally report the incident to the Director of Programs.
Simple Rubric for Assessing Deliverables: Credit Full Credit Half Credit Timeliness & Quality Turned in on time and with high quality and effort.

Complex thought process and presents original ideas and analysis Turned in on time, but with minimal effort exerted, or turned in late, with sufficient effort exerted.

No Credit Could be turned in on time, turned in late, or not turned in at al.

If turned in, entire sections are incomplete and very little effort was exerted.
Grading Scale: compared to the university grade scale.

Each student's final grade is based on the final average for the course requirements as A A- B+ B B- C+ C C- D+ D F 93 – 100 90 - 92 87 - 89 83 - 86 80 - 82 77 - 79 73 - 76 70 - 72 67 - 69 60 - 66 0 - 59 Extra credit is not applicable or available in this course.

Watson Institute • 1310 College Ave #100, Boulder, CO, 80302 USA • www.watson.is Protect your courage SAMPLE ​