This course focuses on the iterative process of developing an effective business model. Startup entrepreneurs are seeking a repeatable and scalable business model. Distinct from creating a business plan, business modeling is an iterative process that 1) tests early hypotheses about what potential customers value, 2) derives feedback on early prototypes, and 3) experiments with the means by which to create value in a sustainable, profitable way. Components of the business model – the customer value proposition, the logistical model, and the profit model – are repeatedly modified to derive a more commercially viable result. In the course, students will immerse themselves in this process. As a result, they will learn how to test business model hypotheses, revise and validate a business model, or pivot to create one that differs significantly from their original concept. The resulting skills can also be applied at later stages of their business when further business model innovation may be required.