With a good handle on the product and solid progress towards your MVBP (minimum viable business product), you should get ready to build knowledge about your expanded stakeholder map, including all of your buyer personas (a.k.a. decision making units, or DMU) and buying process (a.k.a. decision making process, or DMP).
Prepare
- Continue to run daily standups and weekly goal setting and wall-of-wins celebration sessions with your team.
- With seven weeks of working together, it’s time to check in with your cofounders to see how everyone is doing, and to make sure your goals are aligned. Use this discussion guide from Kit Hickey and Erin Scott, instructors of the highly popular class “Entrepreneurial Founding and Teams”, to help you get started.
Learn
- Watch this Core Skills video to learn how to find product market fit.
- Watch this Masterclass Video by our resident Entrepreneur and Hacker in Residence, Paul Cheek, on how to use online advertising advertising to test hypotheses, and gauge whether you have a good handle on your target customers’ purchase intent.
- Read this Masterclass about pitching impact driven ventures – in particular, carefully follow the stakeholder mapping process for the case mentioned to see how mapping the DMU works out in real life
Build
- Use this worksheet to define the decision making unit (DMU), or buyer personas.
- Use this worksheet to define the decision making process (DMP), or buying process.
Trivia question of the week:
- What is another commonly used name for the “full life cycle use case” in the Disciplined Entrepreneurship framework?