*** WELCOME TO BUS 399 *** ENTREPRENEURSHIP CAPSTONE *** WINTER 2026 *** WASHINGTON AND LEE UNIVERSITY *** LET'S BUILD SOMETHING COOL ***
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BUS 399: ENTREPRENEURSHIP CAPSTONE

~*~ Entrepreneurial Thinking Studio ~*~

Winter Term 2026 • Washington and Lee University

Instructor: Jay Margalus

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🚀 What Is This Course?

This capstone is run as a VENTURE STUDIO. You will practice entrepreneurial thinking by working through a design-thinking-style methods sequence:

  1. DISCOVER a real challenge
  2. INTERPRET it through primary research
  3. IDEATE many possible solutions
  4. PROTOTYPE and test
  5. SHOWCASE what you learned and what you'd do next

The emphasis is on EVIDENCE, ITERATION, and REFLECTION—not on having a "perfect idea" on day one!

📜 Our Classroom Mantras

Chosen by the students of Winter 2026

Classroom Mantras: 1. Listen to understand, not respond. 2. Crit = Compliment sandwich. 3. Feedback: Be kind, not nice. 4. Don't be so serious. 5. You can't overcommunicate.
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📅 Course Logistics

🕓 Meeting Times Monday & Wednesday, 8:00–9:30am
💼 Office Hours Monday 3–4pm & Wednesday 2–3pm
(by appointment only)
📆 Dates Mon Jan 12 – Fri Apr 17, 2026
📝 Make-up Class Fri Jan 23 (Monday schedule; MLK holiday week)
🎉 No Class Mon Jan 19 (MLK Day)
Washington Break: Mon Feb 23 – Fri Feb 27
🌟 Required Event Entrepreneurship Summit Booth Showcase
Fri Mar 20 (time TBA)
+ Attend 3 summit panels (with proof!)
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🎯 Learning Outcomes

By the end of the term, you will be able to demonstrate (with evidence!):

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🔄 How the Course Works

We use a flipped + studio cadence. Most "content" happens before class (short readings/videos). Class time is for workshops, critique, synthesis, prototyping, and coached decision-making.

📅 Weekly Rhythm (typical):

Before Monday Complete assigned readings + any prep noted in schedule
Monday Class Workshop + studio time + critique
Before Wednesday Complete any additional readings assigned for Wed session
Wednesday Class Workshop + studio time + critique
Friday (no class) Venture Log entry due + any major deliverables

🎁 Gift-Giving Exercise (Early Term)

You will design and deliver a small 'gift' (time, attention, introduction, prototype, or $0-$10 physical item) to someone connected to your problem space.

The goal is not generosity-as-performance; it is to learn how access, trust, and reciprocity change the quality of discovery.

🤝 Teams

You'll work in teams of 2-3 students, formed on Wed Jan 14 around shared problem interests. Teams stay together for the full term. All team deliverables receive shared credit.

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📦 Core Deliverables

📋 View detailed specs for all deliverables →

Note: Venture Log is tracked separately (10/12 entries required for C). Everything below = Core Deliverables.

Individual Work:

Team Work:

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📈 Grading (Specifications / Bundles)

Work is assessed Satisfactory / Needs Revision against clear checklists. Final grades are earned by completing bundles of work at a satisfactory level.

This rewards iteration and learning (including failed ideas that generate strong evidence)!

🪙 Flexibility Tokens

You begin with 2 tokens!

A token can be used to:

🏅 Grade Bundles

C

Up to 3 unexcused absences

All Core Deliverables
+ 9/11 Venture Log entries

B

Up to 2 unexcused absences

Everything in C
+ 2 Mastery Options

A

Up to 1 unexcused absence

Everything in B
+ 2 more Mastery Options
(4 total beyond C)

✨ Mastery Options (choose your adventure!):

Team work – shared credit. All mastery work is due with the Final Dossier (Apr 17). Suggested timing below.

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📖 Required Books (3)

Application-first: these aren't just readings, they're tools!

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Your Music and People

Derek Sivers

Creative and considerate fame

SPRINT 1: Jan 12 - Feb 6

Relationship-building, generosity, audience, distribution. Includes the Gift-Giving Exercise!

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Business Secrets of Drug Dealing

Matt Taibbi & Reggie Harris

An Almost True Account

SPRINT 2: Feb 9 - Mar 6

Operating under constraints: risk, trust, sourcing, pricing. Creates your team "Rules of the Game" list.

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Co-Intelligence

Ethan Mollick

Living and Working with AI

SPRINT 3: Mar 9 - Apr 3

Using AI as co-worker/coach for research, synthesis, prototyping—with verification!

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🗓 Course Schedule

(subject to iterative adjustment—we're entrepreneurs, after all!)

Date Module Focus In-Class Deliverable(s)
SPRINT 1: Discovery & Interpretation
Mon Jan 12 Orientation + course methods ET-7 + design-thinking modules; studio norms; Venture Log setup Prep: Read YM&P sections 1-3 (INTRO, CREATIVE, CONSIDERATE) for Wed discussion; bring 5 marked passages + 1 idea to test; sign up for X (Twitter) + follow 50 people in your area of business interest
Wed Jan 14 Opportunity identification + Claude Code Problem inventory; choose 2-3 candidate challenges; team formation around shared problems; Gift-giving exercise kickoff; Reading: YM&P sections 1-3 Prep: Read YM&P sections 4-5 (PEOPLE, INDUSTRY) for next Wed; Gift Plan + recipient rationale for Friday
Fri Jan 16 No class – deliverables only DUE: Venture Log #1 (include Gift Plan + recipient rationale)
Wed Jan 21 Discovery methods Interviewing practice; observation planning; empathy map; Reading: YM&P sections 4-5 Prep: Read YM&P sections 6-7 (RESOURCEFUL, DESCRIBE) for next Wed
Fri Jan 23 Make-up class (Mon schedule) Fieldwork kickoff; interview script critique; recruiting participants DUE: Challenge Brief + Research Plan (specs) + Gift-Giving Exercise (instructions) + Venture Log #2 (include gift response)
Mon Jan 26 Discovery synthesis I Share initial interviews; define what you don't know; research backlog
Wed Jan 28 Interpretation workshop Affinity mapping; needs vs. solutions; evidence standards; Reading: YM&P sections 6-7 Prep: Read YM&P sections 8-11 (TARGET → MINDSET) for next Wed; Fieldwork Evidence Pack for Friday
Fri Jan 30 No class – deliverables only DUE: Fieldwork Evidence Pack (specs) + Venture Log
Mon Feb 02 Interpretation workshop II Personas + customer journey; emotional/cognitive/functional needs
Wed Feb 04 Framing to action POV statements; 'How Might We'; prep for advisor panel; Reading: YM&P sections 8-11 (final) Prep: Read Business Secrets ch 1-6 for Mon Feb 9 discussion; Interpretation Pack + Book Memo #1 for Friday
Fri Feb 06 No class – deliverables only DUE: Interpretation Pack (specs) + Book Memo #1 (specs) + Venture Log
SPRINT 2: Ideation & Prototyping
Mon Feb 09 Advisor Panel (Red/Yellow/Green) Teams present framing + evidence; receive traffic-light feedback; Reading: Business Secrets ch 1-6 Prep: Read Business Secrets ch 7-11 for Wed discussion
Wed Feb 11 Decision making under uncertainty Pivot/persevere/abandon memo; experiment backlog; team role clarity; Reading: Business Secrets ch 7-11 Prep: Read Business Secrets ch 12-17 for Mar 4 discussion (read over break!)
Fri Feb 13 No class – deliverables only DUE: Venture Log — Include: What did you decide after the Advisor Panel (pivot/persevere/abandon)? What evidence drove the decision? What 3-5 experiments will you run next?
Mon Feb 16 Ideation sprint 50 solutions; divergent thinking; constraint-based creativity
Wed Feb 18 Concept selection Converge: shortlist; value props; quick concept tests Prep for Friday: Ideation Pack
Fri Feb 20 No class – deliverables only DUE: Ideation Pack (specs) + Venture Log
🏝 Washington Break: Feb 23-27 – No Class 🏝
Mon Mar 02 Prototyping sprint I Low-fi prototypes (sketch/lego/ad/pretotype); test plan
Wed Mar 04 Experiment design Build–Measure–Learn; metrics that matter; rapid outreach; Reading: Business Secrets ch 12-17 (final) Prep: Read Co-Intelligence Intro + ch 1-3 for Mon Mar 9 discussion; Prototype Pack v1 + Book Memo #2 for Friday
Fri Mar 06 No class – deliverables only DUE: Prototype Pack v1 (specs) + Book Memo #2 (specs) + Venture Log
SPRINT 3: Testing & Summit
Mon Mar 09 Prototyping sprint II Narrow 3–10 → 1; higher-fidelity build; feasibility checks; Reading: Co-Intelligence Intro + ch 1-3 Prep: Read Co-Intelligence ch 4-6 for Wed discussion
Wed Mar 11 Testing day + iteration Run tests; analyze; decide next iteration; Reading: Co-Intelligence ch 4-6 Prep: Read Co-Intelligence ch 7-9 + Epilogue for Apr 1 discussion
Fri Mar 13 No class – deliverables only DUE: Venture Log
Mon Mar 16 Summit prep I Booth narrative; poster layout; demo rehearsal; lead capture
Wed Mar 18 Summit prep II (mock booth) Full dry run; critique; logistics; risk list DUE: Booth Package (specs)
🌟 Fri Mar 20 🚨 ENTREPRENEURSHIP SUMMIT – BOOTH SHOWCASE 🚨
Required course commitment – treat it as a major field test!
SPRINT 4: Go-to-Market & Close
Mon Mar 23 Post-summit learning Debrief; pattern-find; update assumptions; next experiments
Wed Mar 25 Venture model + feasibility BMC update; revenue model; unit economics assumptions
Fri Mar 27 No class – deliverables only DUE: Venture Log — Include: What feedback did you get at Summit? What surprised you? Which assumptions were validated or invalidated? What's changing based on what you learned?
Mon Mar 30 Go-to-market experiments Acquisition channels; outreach scripts; partnerships
Wed Apr 01 Planning forward Roadmap; budget; risks; compliance; what 'next' looks like; Reading: Co-Intelligence ch 7-9 + Epilogue (final) Prep for Friday: Book Memo #3 + Venture Log (GTM focus)
Fri Apr 03 No class – deliverables only DUE: Book Memo #3 (specs) + Venture Log — Include: How will customers find you (first 10? first 100?)? What's your revenue model? What are your unit economics (cost per unit, revenue per unit, gross margin)? What financial assumptions need more testing?
Mon Apr 06 Final dossier studio Peer review; evidence gaps; revision plan
Wed Apr 08 Final studio + showcase Final share-out; course retrospective; close-out Prep for Friday: Final Dossier + Reflection + Peer Eval
Fri Apr 17 No class – deliverables only DUE: Final Dossier (specs) + any Mastery Options + Final Reflection (specs) + Peer Evaluation (specs) + Venture Log #11
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⚠ Studio Policies & Expectations

🏪 Attendance

This is a studio course; being in the room—and actively participating—matters. Critique, workshop, and discussion only work when everyone contributes. Excused absences include documented illness and verified varsity/team obligations.

🕑 Late Work

Without a token, late work is not accepted. With a token, you may submit up to 72 hours late.

🤖 AI Tools Policy

You may use generative AI for brainstorming, drafting, analysis, coding, and rapid iteration. BUT:

🎁 FREE TOOLS 🎁

You will receive paid access to the following tools for the entire course:

🤖 Claude Code
▲ Vercel

Build fast. Ship faster. On us!

📚 Academic Integrity

Follow university policies. Honesty in evidence and attribution is non-negotiable.

♿ Accessibility

If you have approved accommodations, please coordinate early so we can build them into the studio workflow.

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