But they're asking us a first time, a new customer.

Show them the grumpy employees.

One was an interview I did with one of the great American biographers.

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

Banks charge higher interest on loans to risky customers.

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

He found out emerson's client was dubaku.

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?

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

We all work on little laptops and try to move desks to change the way we think.

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

Many companies have huge databases of customer information.

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

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.

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.

In theory, understanding acquisition and activation seems pretty simple.

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

Earlier we looked at the 4 phases of the entire customer development process, but now let's take a look at the customer discovery process itself and order its phases.

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

He's not the client.

Apple is one of the few, truly cares.

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

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

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

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.

Next, they got out of the building again.

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

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

Now, the first issue that we faced was that the Dallas Theater Center had a notoriety that was beyond what you would expect of some place outside of the triumvirate of New York, Chicago and Seattle.

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

As we said earlier, you know now your customer segment's perception of the value of your value prop.

As I'm sure you know, Mr. Horn was our most important client.

I have told you how to treat customers.

And one of the things we need to understand is what's the archetype or the persona of our customers that we're actually wanting to get and so one of the things that's kind of hard for startups is to realize that getting customers isn't some abstract idea you really need to understand who your customers are and this is not just thinking about selling to consumers.

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.