Lean Startup Fundamentals
Overview
The Lean Startup method focuses on iterative development. It allows ideas to evolve, and to fail early and cheaply if they do not work. It rejects traditional business models that waste time and resources on untested concepts. This unit steps students through each aspect of this method. They will fall in love with solving problems instead of sticking to one imperfect solution, learn to minimise risk and uncertainty by testing solutions with real people, and create digital prototypes that save time and money. They will gain the agile mindset to make their startup succeed in an ever-evolving commercial landscape.
Requisites
100 credit points
01-June-2025
02-November-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Design a customer value proposition based on a thorough analysis of customer problems, needs, and wants.
- Identify and apply key principles of lean-startup methodology to assess a new business model’s desirability, viability, and feasibility.
- Critique approach to select, design, and evaluate an appropriate business model for a new venture, reflecting on lean startup methodology to be critical and reflective learners, cognisant of new technologies.
- Work and communicate effectively as an individual or as part of a team across a range of activities and contexts.
- Develop knowledge and skills to professionally pitch ideas.
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Online Lecture | 1.00 | 12 weeks | 12 |
| Unspecified Activities Various | 9.50 | 12 weeks | 114 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Assignment | Reflection Task | 15 - 20% | 3 |
| Assignment | Major Assignment | 20 - 35% | 1,2 |
| Assignment | Individual/Group | 40 - 60% | 1,2,3,4,5 |
| Assignment | Individual | 5 - 10% | 4 |
Content
- The process of entrepreneurial action
- Customer discovery and business model
- Crafting a value proposition
- Establishing problem-solution fit
- Customer validation: Prototyping, validated learning, and pivoting
- Customer creation: customer relationships and channels
- Markets and competitors
- Feasibility of the business model
- Viability of the business model
- Starting your business & protecting your business ideas
- Pitching your business idea
- Ethics and social responsibility of start-ups
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.