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

Instead of pricing based on cost,

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

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

And what Christensen said is, What functional or social jobs are getting done?

Did he ever mention any particular client being unhappy?

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

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

It assumes you will be going through this multiple times.

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

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

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

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

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.

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?

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.

We still have earned and paid media driving customers into the funnel.

Many companies have huge databases of customer information.

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.

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

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.

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

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

You could say look, I performed services that will earn me 200 in the future

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

Apple is one of the few, truly cares.

And so we're in the last piece in detail is what gain are you creating.

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

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.

Let's go to month two

Next, they got out of the building again.

Here's your client list.

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

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.

So let's follow our Jersey Square team down and see what they've done for customer relationships.

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.

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

have breakfast with them... do whatever it takes to familiarize them with our packages.