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.

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

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

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

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

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?

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

Is it about time saved? New efficiency created?

There are some other things to consider in customer segments besides jobs to be done and pain and gain, and that is who's the customer?

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

Another key component of understanding customers is understanding customer gains, which is a fancy way for saying what are the benefits that customers expect, or desires, so besides the jobs they want to get done what do they want to gain by using your product or service?

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

And our product fits right here and here's why, etc.

We will take it to the potential customers.

What we now know is that the founders need to run what's called the customer development team.

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

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

Instead of pricing based on cost,

Many companies have huge databases of customer information.

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.

You cater an event where the cost to you was 200

I have no idea where my husband is.

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

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

We have recently accepted a client who is VampireAmerican.

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.

So let's follow our Jersey Square team and see what they did with customer segments.

It's a big idea.

Apple is one of the few, truly cares.

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?

Defense department's largest contractor.

He's not the client.

What could be everything?

I have told you how to treat customers.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

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

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

Next, they got out of the building again.

Here's your client list.

Everybody knew that we never give any information to the police.

And the next thing they were looking at was their target market.