Defense department's largest contractor.

The customer development process is actually a 4 step process.

Done. Last page has Bowman's clients from the U.S.

What's most important to us when we make a video is what the customer sees.

And in value proposition, the goal of this is to find out that minimum viable product.

By now, you're intimately familiar with the business model canvass.

It's not.

In customer relationships all the get keep grow metrics, some of which we talked about, some of which you'll discover, what were the customer acquistion costs?

Pricing is kind of the tactics.

So on day one, these were their initial hypothesis coming into the class.

Banks charge higher interest on loans to risky customers.

Now if you remember we started here on the left. We didn't earn and paid media.

So those are the 2 goals

Many companies have huge databases of customer information.

Now we finally come to the last part of the business model canvas.

Instead of pricing based on cost,

You cater an event where the cost to you was 200

I have no idea where my husband is.

So in our last lectures we talked about value proposition, customer segments, distribution channels, customer relationships get, keeping and growing customers.

And we did, we made a movie, which had to be the worst movie ever made in the history of movie making, but it was a blast.

Why do you want to think about keeping customers is that customers are a lot more expensive to acquire over here than they are to keep.

Guaranteed, best time you can have with your clothes on.

What's the sum of all the revenue from day 1 purchase, so you're keeping them through all the grow activities you're undertaking.

Apple is one of the few, truly cares.

As was simulated, the value proposition includes all the features of your product but also the pains and gains you're solving for the customer segment and that's where the market goes.

So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

They could tell you that I want bigger, faster, cheaper status quo.

Next, they got out of the building again.

Here's your client list.

The goal was not to use this process to find all the bugs though they might come up.

At the end of the day, not only do you know about the pains and gains of these customers, but you specifically know who they are.

Obviously you haven't had great sex yet.

This is what I called the you should be so lucky to have this problem part of the funnel, and that's how you grow the customers you have.

Let's go to month two

The only fallacy in this is that you assume that your first customers are going to be in the mainstream.

That's a big idea, because if you think about it, we have all these processes to manage the engineering process, why?

What could be everything?

JU That's a good question, and we ask ourselves that every day.

Many of our clients are AfricanAmerican.

We have recently accepted a client who is VampireAmerican.

A tech company's one of my clients.

Most of my clients are married.

Because no one, and that was a constant problem...

It's a big idea.

That's your job as the facilitator and coach.