In Week 5, we are diving deep into the focus of the second month: Your product or service. The good work you have done in Month 1 should have provided you with an excellent understanding of your market and customer. You should also have refined your product definition and reiterated your competitive advantage.
Prepare
- You should continue to run daily standups and weekly goal setting and wall-of-wins celebration sessions with your team.
- Work on your relationship with your mentor – make sure you come to the mentor meeting well prepared and with clear asks at the end. Also make sure you appreciate their time and contributions!
- Keep doing peer checkin’s with fellow entrepreneurs, ideally on a weekly basis, to keep yourself accountable and to trade resources and best practices.
Learn
- Review eight short videos on Theme 2: What can you do for your customer? from the Disciplined Entrepreneurship Framework.
- Watch Design Thinking 101 and Lean Startup in 5 minutes (or less). These two videos will take less than 8 minutes added together.
- If these two videos intrigue you, check out more short format videos from our Coffee Break Series selection.
- Wondering what you need to do for IP protection? Check out this masterclass on Intellectual Properties.
Build
- Use this worksheet to help define your quantified value proposition.
- Define your minimum viable business product (MVBP) with this worksheet, then review your progress and program plan towards building your MVBP.
Trivia question of the week:
- Why is an obsession with the MVP (Minimum Viable Product) potentially dangerous?