It assumes you will be going through this multiple times.

Unexpectedly short lived code, that's pretty bad. Legacy code is actually successful, right?

Existing markets well, the customers well, they're know. We know who they are. They exist.

At clone market, the customers are possibly known because you copied an existing market

But the next step is you get out of the building.

And the fourth phase in customer discovery is you verify your pivot.

So there's another phrase called beautiful code and that's what we want you to build beautiful code.

The value proposition says, Hey, it's not about your ideal product, it's about solving a problem or a need for a customer.

Oh, I have a great Rolodex, great set of contacts.

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

Two, I've tried it. I've tried at Sciant.

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?

The next piece about customer development to understand is what is it you're actually doing outside the building?

It turns out that the answer is pretty specific.

And product market fit just simply says what is the match between what you are building and what customers need and want, and who are those customers.

Tektronix's new software perfectly responds to the needs of customers using logic analysers.

I don't care when you get in in the morning. I don't care when you leave.

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.

I have no idea where my husband is.

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

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

We want to make sure that we actually listen to the people who eventually will buy this product.

If you wanted to get fancy, this is a little bit inaccurate when the customer ordered less than 10 photos because, let's say the customer orders 10 photos.

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

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

This is where you construct your hypotheses, and you get out of the building and start testing your assumption about whether other people have the same problem or need you think they have.

And unless you're in an existing market and you happen to know which features the customers have told you are more important.

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.

Many companies have huge databases of customer information.

There's just some basic hard wired social need or I want to communicate with my friends.

Here's your client list.

I mean how do they hear of our products, how do they know about you, and as we'll see later one of the interesting things is there are some customers that are users like in Google

So, while the goal in value prop is to figure out the MVP, yes, we il see later the goal in customer segments is to figure out who and what the archetype of the customer is.

And number 4. Access to customers.

Can you expand your product line?

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

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

We have recently accepted a client who is VampireAmerican.

The next thing is you're going to test the solution, and you're going to test the solution if you're on the Web by building a low fidelity and then a high fidelity prototype, and you're going to again test your understanding of the customers' needs and whether your solution matches this.

To write the requirements and do the design, assumes on day one you know the problem or need the customer has.

One of the most important metrics to think about now that we have an end to end funnel is something called lifetime value and a lifetime value LTV is not your lifetime but your customer's lifetime.